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China hits back at Romney trade jibes

China slammed US presidential hopeful Mitt Romney Thursday after he said he would end his country’s “trade surrender” to Beijing, accusing him and other would-be candidates of “scapegoating China”. An English-language commentary by the state Xinhua news agency called his remarks “old-fashioned and ill-advised”, warning: “China is no cause of…

Former CEO says Yahoo ‘f*cked me over’

Former Yahoo CEO Carol Bartz is wasting no time in making public her thoughts about the company that fired her. Less than 24 hours after chairman Roy Bostock let Bartz know that her services would no longer be needed, she was speaking out in an interview with Fortune. “These people…

Facebook doubles first-half revenue

SAN FRANCISCO (Reuters) – Facebook’s revenue doubled to $1.6 billion in 2011′s first half, a source with knowledge of its financials told Reuters, underscoring its appeal to advertisers while it grapples with intensifying competition from the likes of Google Inc. Net income in the first half of 2011 came to…

Judge sets first hearing in AT&T anti-trust case

WASHINGTON — The federal judge hearing the US government’s lawsuit seeking to block AT&T’s $39 billion takeover of T-Mobile has set a first meeting to discuss the prospects for a settlement. US District Judge Ellen Huvelle ordered lawyers for the Justice Department, AT&T and T-Mobile, the US unit of Germany’s…

U.S. economy growing at slow pace: Fed report

WASHINGTON — The US economy continues to grow slowly, with patches of weaker activity, the Federal Reserve said Wednesday in a report ahead of a key monetary policy meeting this month. Recent stock market swings and rising economic uncertainty have dampened confidence, the Fed said in its latest Beige Book…

U.S. stocks rally on Fed report

NEW YORK — US stocks jumped on Wednesday after a German court ruling helped clear the way for a eurozone bailout plan and the Federal Reserve said the US economy was still growing slowly. The Dow Jones Industrial Average rose 275.56 points (2.47 percent) to close at 11,414.86, in a…

BP finds more oil in US Gulf of Mexico field

British oil giant BP announced Wednesday a major oil find in the US Gulf of Mexico that it said underscores the development potential of the region. An appraisal well drilled in an untested northern segment of the Mad Dog field found “a significant resource extension” for the Mad Dog Field…

Yahoo CEO fired over the phone, rocky run ends

SAN FRANCISCO (Reuters) – Yahoo Inc Chairman Roy Bostock fired CEO Carol Bartz over the phone on Tuesday, ending a tumultuous tenure marked by stagnation and a rift with Chinese partner Alibaba. Chief Financial Officer Tim Morse will step in as interim CEO, and the company will search for a…

U.S. experts eye Cuba oil plans after BP spill

A group of US experts led by a former top environment official has visited Cuba to gather information on the communist country’s Gulf of Mexico oil exploration plans, according to state media. William Reilly, who led the US Environmental Protection Agency (EPA) under former president George H.W. Bush and led…

Former U.S. official to head cybersecurity at Sony

WASHINGTON — Japanese electronics giant Sony, which suffered a huge data breach this year, named a former top US Department of Homeland Security official on Tuesday to lead its cybersecurity efforts. Philip Reitinger, who worked at US software giant Microsoft before joining the US government, has been appointed Sony’s chief…

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