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The Federal Reserve should take even small steps to show it is committed to doing "what it takes" to bring the U.S. economy back to health, a top Fed official said on Tuesday. Such steps could include cutting the interest rate it pays on excess reserves that banks keep on deposit at the Fed, Minneapolis Federal Reserve Bank President... Read more...
By Byron Kaye SYDNEY (Reuters) - South African retailer Woolworths Holdings Ltd is set to buy Australia's second-largest department store David Jones for $2 billion, trumping an offer from Australian rival Myer Holdings Ltd with a hefty premium. The deal, the biggest for Woolworths to date, creates a leading southern hemisphere retailer that will benefit from greater scale and a common fashion seasonality, and comes as Australia's... Read more...
The US government has made definitive statements about Chinese telecommunications company Huawei — a 2012 report claimed that the company's networking equipment posed a national security risk, something that caused the company to largely retreat from operating in the US market. Somewhat ironically, however, the US government appears to be doing something very similar to what it accused Huawei of. The New York Times is reporting that the NSA... Read more... Read more...