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Yahoo launches auction process as Starboard gears up for fight

Yahoo shares jumped after the company announced its board has formed a committee of independent directors to explore strategic alternatives, and that it has hired investment banks and a law firm to run the process. The launch of the auction process, a move activist hedge fund Starboard Value and other shareholders have pushed since late last year, showed the company was moving another step closer …

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Yahoo launches auction process as Starboard gears up for fight

U.S., Apple ratchet up rhetoric in fight over encryption

By Dustin Volz and Julia Edwards WASHINGTON (Reuters) – The U.S. Department of Justice filed a motion on Friday seeking to compel Apple Inc to comply with a judge's order to unlock the encrypted iPhone belonging to one of the San Bernardino shooters, portraying the tech giant's refusal as a “marketing strategy.” In response, a senior Apple executive, speaking with reporters on condition of anonymity, characterized the Justice Department&#…

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U.S., Apple ratchet up rhetoric in fight over encryption

China removes stocks regulator head after market woes

By Adam Jourdan SHANGHAI (Reuters) – China has removed the head of its securities regulator following a turbulent period in the country's stock markets, appointing a top state banking executive as his replacement, as leaders move to restore confidence in the economy. The announcement on the official Xinhua news agency on Saturday follows a string of assurances from senior leaders following the Lunar New Year holiday that China…

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China removes stocks regulator head after market woes

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

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

Firming U.S. inflation keeps Fed rate hike on the table

By Lucia Mutikani WASHINGTON (Reuters) – Rising rents and healthcare costs lifted underlying U.S. consumer price inflation in January by the most in nearly 4-1/2 years, providing support for the view that the…

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Firming U.S. inflation keeps Fed rate hike on the table

U.S. ramps up Apple offensive with new filing in iPhone unlocking case

By Dustin Volz and Julia Edwards WASHINGTON/LOS ANGELES (Reuters) – The U.S. Department of Justice filed a motion seeking to compel Apple Inc to comply with a judge's order for the company to unlock the iPhone belonging to one of the San Bernardino shooters, portraying the tech giant's refusal as a “marketing strategy.” The filing escalated a showdown between the Obama administration and Silicon Valley over security and privacy that ignited earlier this week. …

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U.S. ramps up Apple offensive with new filing in iPhone unlocking case

S&P warns it may cut Icahn Enterprises to junk status, stock falls

By Svea Herbst-Bayliss BOSTON (Reuters) – U.S. ratings agency Standard & Poor's warned on Friday it may cut the credit rating of billionaire investor Carl Icahn's Icahn Enterprises to junk status after the portfolio absorbed heavy commodity sector losses in the last few months. S&P placed its triple-B-minus issuer credit rating and senior unsecured debt rating of Icahn Enterprises on “CreditWatch with negative implications,” the agency said in a statement. The news weighed on Icahn Enterprises' stock price…

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S&P warns it may cut Icahn Enterprises to junk status, stock falls

Boeing engineers overwhelmingly back new labor contracts

More than 70 percent of voters backed the agreements for two bargaining units of the Society of Professional Engineering Employees in Aerospace (SPEEA) that cover 20,100 workers, the union said. Professional workers voted 6,085 to accept and 2,460 to reject, while technical workers voted 2,825 to accept and 1,030 to reject, the union said. Boeing agreed to pay 15 percent more than the national average of wages for professional engineers, as

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Boeing engineers overwhelmingly back new labor contracts

Pratt & Whitney, VietJet sign $3 billion engine deal

Engine manufacturer Pratt & Whitney has signed a $3.04 billion contract to sell engines to budget airline VietJet Air for Airbus aircraft, the airline said in a statement. The engines will be installed on 63 A320 and A321 planes ordered by VietJet under the contract signed at the Singapore Airshow, Vietnam's first privately owned carrier said in the statement issued late on Wednesday. The airline said it wants to expand routes to cover all of Asia-Pacific.

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Pratt & Whitney, VietJet sign $3 billion engine deal

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