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Asia shares climb on U.S. optimism, oil pressured before OPEC Tuesday, November 25, 2014 9:20 pm

A pedestrian looks at an electronic board showing Japan's Nikkei average and various stock prices outside a brokerage in TokyoBy Shinichi Saoshiro TOKYO (Reuters) - Asian stocks edged up on Wednesday after upbeat U.S. economic growth data calmed investor anxiety over a deteriorating global outlook, while the Australian dollar languished near four-year lows against the dollar. Oil prices were also under pressure as major oil producing nations failed to agree on curbs to output ahead of an OPEC meeting on Thursday. The U.S. government upgraded its reading on third quarter gross domestic product to 3.9 percent on Tuesday from 3.5 percent reported last month. ...


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U.S. economy resilient in third quarter as global growth cools Tuesday, November 25, 2014 8:40 pm

A bucket is lifted by scaffolding workers at the Washington Monument at sunrise in WashingtonBy Lucia Mutikani WASHINGTON (Reuters) - The U.S. economy grew at a much faster pace than initially thought in the third quarter, pointing to strengthening fundamentals that should help it weather slowing global demand. The Commerce Department on Tuesday raised its estimate of GDP growth to a 3.9 percent annual pace from the 3.5 percent rate reported last month, reflecting upward revisions to business and consumer spending, as well as to inventories. The rise in output followed a 4. ...


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HP fourth-quarter revenue drops on weak enterprise demand Tuesday, November 25, 2014 5:28 pm

A Hewlett-Packard logo is seen at the company's Executive Briefing Center in Palo AltoBy Sarah McBride (Reuters) - Hewlett-Packard Co said its quarterly revenue fell in almost every business segment over the year, highlighting weaknesses ahead of the company's planned 2015 separation of its enterprise services from its traditional computer and printing units. Sales fell 2.5 percent in the fourth quarter to $28.41 billion, from $29.13 billion a year earlier, HP said on Tuesday. Analysts had expected $28.76 billion. Profit declined 2.7 percent to $2.01 billion, or $1.06 cents a share, compared with $1.01 cents a share a year ago, in line with analysts' expectations. ...


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Discover Financial sues Visa over anti-competitive card practices Tuesday, November 25, 2014 10:32 pm

A Visa logo is seen during the International CTIA WIRELESS Conference & Exposition in New Orleans, Louisiana(Reuters) - Discover Financial Services Inc sued Visa Inc on Tuesday, alleging the world's largest cards company has been using anti-competitive practices in its debit card business, and sought compensation for lost profit, court documents showed. Discover, through its Pulse Network LLC unit, alleges that "in order to maintain its monopoly, Visa has undertaken a series of illegal actions that undermine competition – harming rival debit networks, merchants, acquirers, card issuers, and consumers. ...


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Carl Icahn raises stake in car rental company Hertz Tuesday, November 25, 2014 5:46 pm

Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York(Reuters) - Activist investor Carl Icahn raised his stake in U.S. car rental company Hertz Global Holdings Inc to 10.77 percent from 8.48 percent. The billionaire was already Hertz's largest shareholder and in the past few months had successfully pushed for management changes and won board seats on the company. Hertz shares rose 1.7 percent to $25.68 in trading after the bell on Tuesday. Hertz has owned up to a string of accounting errors, originating in 2011, that will require it to restate or correct its financial results for the past three years. ...


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