government

Apple fight could escalate with demand for ‘source code’

By Joseph Menn SAN FRANCISCO (Reuters) – The latest filing in the legal war between the planet’s most powerful government and its most valuable company gave one indication of how the high-stakes confrontation could escalate even further. In what observers of the case called a carefully calibrated threat, the U.S. Justice Department last week suggested that…

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Apple fight could escalate with demand for ‘source code’

government

Buffett’s Berkshire Hathaway avoids S&P rating downgrade

Standard & Poor's on Friday left its “AA” credit ratings for Warren Buffett's Berkshire Hathaway Inc alone, saying the company's growing diversification and “modest” financial risks meant a downgrade was not necessary. Berkshire had been put on review for a possible downgrade on Aug. 11, on concern about Buffett's decision to deploy a large amount of cash toward last month's $32 billion acquisition of industrial parts maker Precision Castparts Corp. But S&P analyst Laline Carvalho said Berkshire's “consistently strong” operating profitability and “exceptional”…

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Buffett’s Berkshire Hathaway avoids S&P rating downgrade

government

Witnesses in Shkreli case worried about retaliation: U.S. prosecutors

U.S. prosecutors said several witnesses in the criminal securities fraud case against notorious former pharmaceutical executive Martin Shkreli are concerned about retaliation and have received threats from him in the past. Prosecutors cited the concern about witness intimidation in a brief filed late on Thursday…

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Witnesses in Shkreli case worried about retaliation: U.S. prosecutors

government

U.S. agency rejects Boeing protest of Northrop bomber contract

A U.S. government agency on Tuesday rejected a protest filed by Boeing Co and Lockheed Martin Corp against a multibillion-dollar bomber contract awarded to Northrop Grumman Corp by the U.S. Air Force in October. The decision by the U.S. Government Accountability Office marked another setback for Boeing, which is facing job cuts in its commercial division and a reported federal investigation into whether it properly accounted for two jetliners, the 747 and 787. Ralph White, GAO's managing associate …

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U.S. agency rejects Boeing protest of Northrop bomber contract

government

Oil loses nearly 4 percent as hopes over Saudi, Russia deal fade

Brent oil fell almost 4 percent on Tuesday, erasing early gains after top producers Russia and Saudi Arabia dashed expectations of an outright supply cut by agreeing only to freeze output …

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Oil loses nearly 4 percent as hopes over Saudi, Russia deal fade

government

Fed’s Kashkari, in first speech, suggests radical Wall St. overhaul

By Lindsay Dunsmuir and Jason Lange WASHINGTON (Reuters) – The U.S. Federal Reserve's newest policymaker and a former point man for the government's bailout of the financial industry on Tuesday called on lawmakers to take radical action to rein in banks and protect taxpayers. In his first speech as head of…

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Fed’s Kashkari, in first speech, suggests radical Wall St. overhaul

government

Corporate winners of Obama budget still face long odds

By Lewis Krauskopf NEW YORK (Reuters) – Facing a hostile Congress in an election year, President Barack Obama will be hard-pressed to push through many of the proposals in his final budget as U.S…

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Corporate winners of Obama budget still face long odds

government

Smirking Shkreli refuses lawmakers’ questions, calls them ‘imbeciles’

By Sarah N. Lynch and David Ingram WASHINGTON/NEW YORK (Reuters) – Former drug executive Martin Shkreli smirked and brushed off questions about drug prices then tweeted that lawmakers were imbeciles on Thursday, when he appeared at a U.S. congressional hearing against his will. Shkreli, 32, sparked outrage last year among patients, medical societies and Democratic presidential front-runner Hillary Clinton after his company, Turing Pharmaceuticals, raised the …

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Smirking Shkreli refuses lawmakers’ questions, calls them ‘imbeciles’

government

Boeing to cut 747-8 production in half as demand slows

Boeing Co said on Thursday it will cut production of its 747-8 jumbo jet in half and take a $569 million charge in the fourth quarter as it faces dwindling sales. “The air cargo market recovery that began in late 2013 has stalled in recent months and slowed demand for the 747-8 freighter,” Ray Conner, chief executive of Boeing Commercial Airplanes, said in a statement. Boeing has disclosed in its regulatory filings for months that the costs of making the…

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Boeing to cut 747-8 production in half as demand slows

government

Yahoo to decide next strategic steps after quarterly earnings: sources

Yahoo Inc will decide on its next strategic steps only after releasing quarterly earnings on Feb. 2, people familiar with the matter said, as the company continues to resist investor calls to explore a sale of its core Internet assets. Yahoo wants to gauge shareholder reaction after presenting its strategic vision during the earnings conference call, one of the people said. Yahoo this month rebuffed several potential buyers for its core Internet assets, including private equity firms, the three sources said this week.

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Yahoo to decide next strategic steps after quarterly earnings: sources

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