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Markets hope for Fed boost to U.S. economy

The Federal Reserve is widely expected to offer up some new stimulus for the sagging US economy when it closes a key policy meeting Wednesday, but many question whether it will do much. The two-day meeting of the central bank’s Federal Open Market Committee might move to further press down…

UBS board meets in Singapore amid trading scandal

Swiss banking giant UBS began a meeting of its board in Singapore on Wednesday as it faces increasing pressure from shareholders after being hit by a $2.3 billion rogue-trading scandal. UBS chief executive Oswald Gruebel declined to take questions before going into the bank’s Singapore office for the meeting, which…

Airbus aims to dominate China market

Airbus aims to have more than half the lucrative Chinese aviation market by the end of 2015, a senior executive said Wednesday, as the European giant seeks to close in on rival Boeing. The European plane maker currently holds 46 percent of the booming Chinese sector — a smaller share…

European stocks fall on Greek crisis

European equities and the euro fell on Wednesday on fresh concerns over banks’ exposure to indebted Greece, but losses were capped by expectations of more stimulus measures from the US Federal Reserve. London’s FTSE 100 index of leading shares slid 0.34 percent to 5,345.76 points in morning deals, Frankfurt’s DAX…

Asian markets mostly up ahead of Fed decision

Asian stocks mostly rose in edgy trade on Wednesday, helped by bargain buying as dealers await the end of a US Fed meeting, expecting fresh monetary easing measures to jumpstart the economy. The anticipated announcement comes amid nervousness about Europe’s sovereign debt crisis and concerns over a possible Greek default.…

Online gambling site busted in ‘Ponzi scheme’

NEW YORK — International online gambling site Full Tilt Poker stole $440 million from players around the world in a Ponzi scheme used to pay lavish fees to board members, US prosecutors said Tuesday. Full Tilt “defrauded players by misrepresenting that their funds on deposit in online gambling accounts were…

Facebook revenue estimated at $4.27 billion

WASHINGTON — Facebook’s global revenue is expected to double this year to $4.27 billion, research firm eMarketer said Tuesday. The Palo Alto, California-based social network is expected to earn $3.8 billion worldwide this year in advertising revenue, eMarketer said, up 104 percent from the $1.86 billion it raked in last…

Google opening smartphone wallets

Google has opened its smartphone wallet to the public. Shops taking part in the program began letting people pay for purchases with taps of Nexus S 4G smartphones from US telecom carrier Sprint. “With Google Wallet, you can tap, pay and save using your phone and near field communication (NFC),”…

Google under scrutiny over search dominance

Google’s executive chairman Eric Schmidt will take center stage at a Senate hearing Wednesday into whether the Internet giant is abusing its dominant position in online search. The Mountain View, California-based Google has drawn increasing scrutiny from US and European regulators as it has grown over the years from a…

Samsung seeks sales ban on iPhone 5

South Korea’s Samsung Electronics will file lawsuits to try to block the sale of Apple’s iPhone 5 as part of its global legal tussle with the US technology giant, a report said Tuesday. The two firms are at loggerheads in a series of patent lawsuits over the technology and design…

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