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U.S. private sector job growth slows in July

WASHINGTON — The US private sector hiring slowed in July, a private survey showed Wednesday, as the economy slowed and uncertainty rose from the political battle over raising the country’s debt ceiling. Payrolls firm ADP said a net 114,000 jobs were created by private, non-farm businesses, compared to 145,000 in…

South Korea fines Apple $2,855 over location data

SEOUL (Reuters) – Apple Inc’s South Korean unit has been fined 3 million won ($2,855) by the country’s communications regulator after the iPhone and iPad maker collected location data from users without proper authorization. The fine, though small, marks the first time Apple has been punished by a regulator over…

After bruising debt battle, Obama pivots to jobs

Admitting a bruising debt-limit battle has likely hampered US recovery, President Barack Obama urged polarized lawmakers to help the job-hungry economy put out the “now hiring” sign. Stung by the bitter feud, Obama is eager to change the subject to economic growth and putting Americans back to work. “In the…

UN, U.S. targets of major cyber spying campaign: report

Over 70 organizations including the United Nations and major US defense groups have been targets of a global cyber spying effort, according to security firm McAfee, with analysts pointing to China as the culprit, the Washington Post said Wednesday. Targets for the intrusions — identified from logs tracked to a…

Moody’s upholds United States’ AAA rating, but outlook ‘negative’

WASHINGTON — Rating agency Moody’s upheld its triple-A rating for the United States on Tuesday after Congress passed new legislation to raise the debt ceiling that averted a possible default. But Moody’s added a “negative outlook” on the grade, saying a historic downgrade could still come if fiscal discipline weakens…

Google+ the fastest-growing social network ever

WASHINGTON — Google is a latecomer to social networking but its new site, Google+, is growing much more rapidly than Facebook, Myspace and Twitter did in their early days, technology experts said Tuesday. While Google+ may be the fastest-growing social network ever, it remains to be seen, however, whether it…

Saudi tycoon to build new world’s tallest tower

RIYADH — Saudi billionaire Prince Alwaleed bin Talal launched Tuesday a project to build the world’s tallest tower at more than 1,000 metres (3,281 feet) in the Red Sea city of Jeddah. The project to built a tower topping Dubai’s world’s highest building, Burj Khalifa, “will soon see the light…

Little economic impact from U.S. debt deal: analysts

Spending cuts in the new deal to slash the US deficit and raise the borrowing ceiling will not have much immediate effect on the economy — or the deficit itself, analysts said Monday. Heralded as a political success that averts the United States being forced to default on its debt,…

Pentagon lands extra $50 billion out of debt deal

Out of a bill that was supposed to cut government spending and waste wherever it is found, lawmakers managed to cobble together an additional $50 billion for the U.S. Defense Department’s budget, using an accounting trick to disguise the move. Instead of cutting $400 billion from the Pentagon’s budget over…

Google faces 9 antitrust complaints in EU probe

BRUSSELS (Reuters) – Google faces a total of nine antitrust complaints which EU regulators are now investigating, two sources said on Tuesday, as rivals ramped up the pressure on the world No. 1 search engine. The European Commission has up to now only confirmed four cases against Google. The addition…

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