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Facebook, Verizon power Wall Street to record levels

(Reuters) – U.S. stocks added to their record levels at the open on Thursday, driven by gains in Facebook and Verizon. Facebook (FB.O) jumped 4.23 percent, lifting both the S&P 500 and the Nasdaq Composite indexes, after the social network’s results beat Wall Street estimates. Verizon (VZ.N) surged 6 percent …

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Amazon to buy Whole Foods for $13.7 billion, wielding online might in brick-and-mortar world

Amazon.com Inc said on Friday it would buy Whole Foods Market Inc for $13.7 billion, in an embrace of brick-and-mortar stores that could turn the high-end grocer into a mass-market merchant and upend the already struggling U.S. retail industry. Amazon used aggressive pricing to become an e-commerce retail juggernaut and …

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Apple dips after report that future iPhone modems could lag rivals

Shares of Apple Inc (AAPL.O) fell more than 3 percent on Friday after Bloomberg News reported that iPhones launched later this year will use modem chips with slower download speeds than some rival smartphones. Apple is widely expected to upgrade its iPhone this year, which marks the device’s 10th anniversary, …

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Softer dollar may be stock silver lining amid Washington drama

With S&P 500 companies set to notch their strongest quarterly earnings growth in about six years, a weaker U.S. dollar may help keep the profit momentum rolling and support share prices in the weeks to come. After a dramatic week in Washington that rattled financial markets, one possible silver lining …

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Time up on Trump trade, hedge funds look abroad

Before this week’s selloff U.S. stocks had climbed roughly 10 percent since Trump’s election victory in November. “All honeymoons end and we are now learning the challenges of living with our new partner,” said Chris Henetemann, who runs structured credit specialist hedge fund 400 Capital Management. Only a few months …

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U.S. Commerce’s Ross says 3 percent GDP growth not achievable this year

The U.S. economy will fall short of the Trump administration’s goal of 3 percent growth this year and will only achieve that when its regulatory, tax, trade and energy policies are fully in place, Commerce Secretary Wilbur Ross said on Tuesday. The GDP target “is certainly not achievable this year,” …

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Twenty-First Century Fox in talks with Blackstone to buy Tribune

Twenty-First Century Fox Inc (FOXA.O) is in talks with Blackstone Group LP (BX.N) about submitting an offer to buy Tribune Media Co (TRCO.N), one of the largest U.S. television station operators, sources familiar with the matter said on Sunday. Blackstone, the largest manager of private equity and real estate assets, …

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Tom Hanks jokes Twitter CEO inspired his character in ‘The Circle’

Oscar-winning actor Tom Hanks, who plays a Silicon Valley tycoon in the new film “The Circle” about a powerful social media company, teased Twitter Inc Chief Executive Officer Jack Dorsey on Monday that he may have been inspiration for the part. Hanks appeared alongside Dorsey on Periscope, Twitter’s service for …

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Germany’s Merkel encouraged U.S. will consider EU free trade deal

German Chancellor Angela Merkel fueled expectations of a future EU-U.S trade deal on Sunday, saying she was “very encouraged” talks were being looked at after her recent trip to Washington. Merkel, speaking at the opening of the 70th annual Hannover Messe trade fair, said Germany was opposed to protectionism and …

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