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Commerzbank sues BNY Mellon, Wells Fargo, HSBC over mortgage losses

By Nate Raymond NEW YORK (Reuters) – Commerzbank AG has sued four banks in the United States, claiming that they failed to properly monitor billions of dollars in toxic mortgage-backed securities acquired by the German lender before the 2008 financial crisis. Bank of New York Mellon Corp and units of Deutsche Bank AG, Wells Fargo & Co and HSBC Holdings Plc were named in the…

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Commerzbank sues BNY Mellon, Wells Fargo, HSBC over mortgage losses

Northrop wins $93 million deal to build drone for smaller warships

Northrop Grumman Corp has won a contract worth $93.08 million to build a full-scale demonstrator of a new unmanned spy plane – a flying wing with large counter-rotating propellers – that would take off and land on destroyers and frigates, the Pentagon said on Thursday. Northrop has been working on a design for the…

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Northrop wins $93 million deal to build drone for smaller warships

Apple asks court to make Samsung pay $180 million more in patent dispute

By Andrew Chung NEW YORK (Reuters) – Just over a week after Samsung paid Apple more than $548 million for infringing the patents and designs of the iPhone, Apple has asked a U.S. court to force its biggest smartphone rival to cough up even more. In court papers filed on Wednesday, Apple Inc said Samsung Electronics Co Ltd owes nearly $180 million in supplemental damages and interest. Representatives for Samsung and Apple could not immediately be reached

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Apple asks court to make Samsung pay $180 million more in patent dispute

U.S. retailers at risk of missing modest holiday sales goals

CHICAGO/NEW YORK (Reuters) – Retailers are struggling to meet even modest forecasts for the holiday shopping season this year after the “Super Saturday” before Christmas failed to live up to its nickname, industry research groups said. The last Saturday before Christmas often sets the annual record for retail sales, vying with Thanksgiving weekend's Black Friday. This year Super Saturday weekend sales in stores and

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U.S. retailers at risk of missing modest holiday sales goals

Record highs predicted for bitcoin in 2016 as new supply halves

The reason 2016 looks set to be different is that bitcoin's price is likely to be driven in large part by similar factors to a traditional fiat currency, following the age-old principles of supply and demand. Instead of being controlled by a central bank, bitcoin relies on so-called “mining” computers that validate blocks of transactions by competing to solve mathematical

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Record highs predicted for bitcoin in 2016 as new supply halves

Exclusive: Shire closer to deal to buy Baxalta – sources

By Carl O'Donnell and Pamela Barbaglia NEW YORK/LONDON (Reuters) – Drug maker Shire Plc has made a new acquisition offer for peer Baxalta International Inc that is roughly in line with the latter's valuation expectations, making a deal…

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Exclusive: Shire closer to deal to buy Baxalta – sources

OPEC’s market share to shrink by 2020 as rivals keep pumping despite oil’s collapse

By Alex Lawler LONDON (Reuters) – Global demand for OPEC's crude will be lower in 2020 than next year as supply from rivals proves more resilient than expected, potentially fuelling a debate on the merits of its strategy to let prices fall to hurt…

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OPEC’s market share to shrink by 2020 as rivals keep pumping despite oil’s collapse

Pentagon eyes proposal for M&A changes in ‘weeks’

By Andrea Shalal WASHINGTON (Reuters) – The Pentagon and other U.S. government agencies should complete a legislative proposal in coming weeks to let regulators block proposed mergers for national security reasons, instead of just antitrust concerns, a top official said on Tuesday. Defense Undersecretary Frank Kendall, who oversees arms weapons acquisitions and industrial base issues for the Pentagon, made the comments in an interview, after first …

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Pentagon eyes proposal for M&A changes in ‘weeks’

Turing Pharma seeks CEO to replace Shkreli, plans job cuts

Shkreli, 32, resigned as CEO on Friday, a day after his arrest on charges that he had engaged in a Ponzi-like scheme. On Monday, KaloBios Pharmaceuticals said Shkreli was “terminated” as CEO and had resigned from the board. Turing did not specify the number of job cuts in a statement.

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Turing Pharma seeks CEO to replace Shkreli, plans job cuts

Panasonic buys U.S. refrigeration firm Hussmann for $1.5 billion

Japanese electronics maker Panasonic Corp is set to buy U.S. refrigeration firm Hussmann for over 186.6 billion yen ($1.5 billion) in a deal it says will leverage its technology and help it break into the U.S. food distribution industry. Panasonic, like several domestic peers, has been moving away from unprofitable smartphones and plasma television sets, focusing instead on higher margin products, such as high-end cold storage, …

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Panasonic buys U.S. refrigeration firm Hussmann for $1.5 billion

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