U.S., China remain at loggerheads over intellectual theft issue: reports

Discussions between the U.S. and China over allegations that the latter has engaged in decades of intellectual property theft have gone nowhere, Bloomberg News reported Monday. The topic was the top of the agenda in recent trade talks between the two, but there was little in the way of constructive progress over what to do, […]

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Chinese drone maker DJI uncovers massive employee fraud scheme: report

Chinese drone maker DJI Technology Co. has discovered massive fraud by some of its employees, which may trigger a loss of around $150 million, Bloomberg News reported Sunday night. Bloomberg said the fraud was found through an internal investigation and multiple employees who inflated costs for personal gain have been fired. DJI did not say […]

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COO of Australia's Treasury Wine Estates ousted

Australia-based winemaker and distributor Treasury Wine Estates TWE, +0.07% announced Monday that Chief Operating Officer Robert Foye has left the company. In a statement, the company said Foye left “due to a breach of TWE’s internal policies unrelated to the company’s trading performance.” Deputy COO Tim Ford will replace him, the company said, reporting to […]

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Trump says stock-rallying reports of lifting Chinese trade 'sanctions' were premature

President Trump in comments Saturday said stock-rallying reports this week that trade talks with China would include the lifting of tariffs against the world’s second-largest economy weren’t true. The president referred to those tariffs as “sanctions” on Saturday. “Things are going very well with China and with trade,” he said to reporters. “There were some […]

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BlackRock accidentally exposes confidential data on advisers using popular iShares ETFs: Bloomberg

BlackRock Inc. BLK, +1.68% the world’s largest asset manager, inadvertently posted confidential information about thousands of financial adviser clients on its site, Bloomberg News reported late Friday, citing a glimpse of the released data before it was removed by the investment firm. The data were linked on one of the company’s web pages dedicated to […]

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Trump to make 'major announcement' concerning border, shutdown Saturday

President Donald Trump plans to make a “major announcement” concerning the border with Mexico and the government shutdown on Saturday, according to his Twitter feed late Friday. In a tweet, Trump said he would make the announcement at 3 p.m. Eastern time on Saturday, which will mark the 29th day of the partial government shutdown, […]

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Snap forces out two executives over inappropriate relationship: report

Snap Inc. SNAP, +7.67% forced out two of its executives because one of them had an inappropriate relationship with a contractor, according to a report late Friday. The Snapchat parent fired Francis Racioppi, its director of global security, late last year because he had hired an outside contractor, had a relationship with her, and then […]

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FedEx starts offering buyouts, says costs between $450 million to $575 million

FedEx Corp. FDX, +2.10% began offering buyouts to U.S. employees on Friday, saying in a filing it expects the program to cost between $450 million and $575 million before taxes. Actual costs will depend on acceptance, and most expenses are expected to incur in the fourth quarter of fiscal 2019, the company said. Savings were […]

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Dow logs 300-point gain as stocks string together four-day winning streak

U.S. stocks ended the week strong on Friday, booking a four-day streak of gains, after reports that Washington and Beijing were debating concessions to help secure an eventual resolution to the ongoing U.S.-China trade dispute. The S&P 500 SPX, +1.32% rose 1.3% to end around 2,671. The Dow Jones Industrial Average DJIA, +1.38% picked up […]

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Mnuchin flew on Milken's private aircraft in December: report

Treasury Secretary Steven Mnuchin flew from Washington to Los Angeles on Michael Milken’s private jet, according to a report Friday in The New York Times. Milken is the Wall Street bond trader who went to prison after pleading guilty to securities fraud charges. A Treasury spokesman said Mnuchin has already reimbursed Milken for the cost […]

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