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Wednesday, February 26, 2014

Business Today: Shares sluggish, semblance of calm returns to China markets

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02/26/2014
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Shares sluggish, semblance of calm returns to China markets
LONDON (Reuters) - World shares struggled to stay above water on Wednesday as concerns over opaque policy moves in China kept investors on edge amid a scarcity of major economic data.
Beyond Mt. Gox, bitcoin believers keep the faith, see more robust system
SINGAPORE (Reuters) - The apparent collapse of Tokyo-based bitcoin exchange Mt. Gox isn't bothering Anthony Hope and others who have ditched steady careers in government and finance to build bitcoin companies - and who stand to lose money they have in Mt. Gox.
Target warns data breach could hurt future profit
NEW YORK (Reuters) - Target Corp's net profit almost halved in the holiday quarter as the third-largest U.S. retailer dealt with the fallout of a massive data breach and warned that costs related to the event could hurt future profits.
China's yuan might ultimately challenge dollar: ECB's Mersch
LUXEMBOURG (Reuters) - China's yuan currency is gaining importance in international trade and investment and might ultimately challenge the U.S. dollar, European Central Bank Executive Board member Yves Mersch said on Wednesday.
U.S. mortgage applications slip in latest week: MBA
NEW YORK (Reuters) - Applications for U.S. home mortgages fell, including both new purchases and refinancings, in the latest week, an industry group said on Wednesday.
Lowe's posts strong sales growth
(Reuters) - Lowe's Cos Inc reported strong sales growth in the fourth quarter, showing that the No. 2 U.S. home improvement retailer was closing in on market leader Home Depot Inc.
Discount stores flourish as recession habits persist
BERLIN/LONDON (Reuters) - Mid-market retailers face pressure to compete on both price and quality as they battle an expansion of discount chains that is powering ahead as recession-era shopping habits become entrenched in post-crisis Europe.
Credit Suisse CEO fights back on tax evasion claims
ZURICH (Reuters) - Credit Suisse's chief executive will hit back at allegations the Swiss bank was a willing accomplice in U.S. tax evasion on Wednesday, blaming instead a small group of its private bankers for helping Americans conceal their wealth.
GE to pay $1.7 billion to Japan's Shinsei to end refund obligations
(Reuters) - General Electric Co said it would pay $1.7 billion to Japan's Shinsei Bank Ltd to end exposure to interest repayment claims related to the sale of its Japanese consumer loan business to the bank in 2008.
Exclusive: Chesapeake, Encana near settlements on Michigan collusion probe
NEW YORK/HOUSTON (Reuters) - Encana Corp and Chesapeake Energy Corp are negotiating civil settlements with the state of Michigan to try to end its criminal investigation into whether the energy companies colluded to keep oil and gas lease prices artificially low in the state.
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