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Reuters: Business News



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Stocks rally as Fed eases rate worry, tech climbs

Fri, 23 Feb 2018 19:11:20 -0500

NEW YORK (Reuters) - U.S. stocks rallied on Friday, lifted by gains in technology stocks and a retreat in Treasury yields as the Federal Reserve eased concerns about the path of interest rate hikes this year.(image)



General Mills moves into pet food with $8 billion Blue Buffalo deal

Fri, 23 Feb 2018 16:16:46 -0500

(Reuters) - Cheerios cereal maker General Mills Inc will buy Blue Buffalo Pet Products Inc for nearly $8 billion, foraying into a fast-growing pet food market to counter declining sales of processed foods.(image)



With rates low, Fed officials fret over next U.S. recession

Fri, 23 Feb 2018 18:25:08 -0500

NEW YORK/LOS ANGELES (Reuters) - Federal Reserve policymakers are fretting that they could face the next U.S. recession with an arsenal of policies little different from that used in the last downturn but robbed of much of their punch because interest rates are still low.(image)



Dropbox files for IPO of up to $500 million

Fri, 23 Feb 2018 16:57:40 -0500

(Reuters) - Data-sharing business Dropbox Inc on Friday filed for an initial public offering of up to $500 million with the U.S. Securities and Exchange Commission.(image)



Geely chairman builds $9 billion stake in Germany's Daimler

Fri, 23 Feb 2018 15:43:14 -0500

BEIJING/FRANKFURT (Reuters) - The chairman of Chinese carmaker Geely [GEELY.UL] has built a 9.69 percent stake in Mercedes-Benz owner Daimler , filings showed on Friday, demonstrating a shift in strategy by Chinese investors seeking access to new technology.(image)



Exclusive: Nordstrom family group finalizing take-private offer - sources

Fri, 23 Feb 2018 16:32:54 -0500

(Reuters) - Nordstrom Inc's founding family group is finalizing plans to submit an offer to take the U.S. department store operator private, people familiar with the matter said on Friday.(image)



Billionaire investor Warren Buffett to retire from Kraft Heinz board

Fri, 23 Feb 2018 18:09:32 -0500

(Reuters) - Kraft Heinz Co said on Friday billionaire investor Warren Buffett has decided to retire from the company's board following the end of his term in April to reduce travel commitments.(image)



GE says it may face U.S. action over subprime mortgage operations

Fri, 23 Feb 2018 19:37:29 -0500

NEW YORK (Reuters) - General Electric Co faces potential legal action by the U.S. Department of Justice over allegations that its GE Capital unit and now-defunct WMC Mortgage Corp unit violated U.S. law in connection with subprime mortgages, according to a regulatory filing on Friday.(image)



Volkswagen settles U.S. diesel owner lawsuit on eve of trial

Fri, 23 Feb 2018 16:55:44 -0500

WASHINGTON (Reuters) - Volkswagen AG's U.S. unit on Friday resolved a lawsuit brought by a North Carolina man whose diesel emissions case was set to be the first go to trial on Monday.(image)



U.S. banks set for M&A wave as Trump cuts red tape

Fri, 23 Feb 2018 17:40:53 -0500

WASHINGTON (Reuters) - An easing of financial rules will soon unleash pent-up mergers and acquisitions among mid-sized U.S. banks, according to deal bankers, analysts and bank executives.(image)