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AT&T, Deutsche Telekom stocks rise on takeover

NEW YORK – Investors gave the thumbs up to AT&T’s purchase of Deutsche Telekom’s T-Mobile USA Monday, sending shares in both firms higher. AT&T’s share price was up 1.2 percent at the close, as traders welcomed the prospect of the firm becoming the largest US mobile phone company. In Frankfurt,…

Microsoft says Android e-reader violates patents

SAN FRANCISCO – Microsoft on Monday accused Taiwan electronics colossus Foxconn and US book seller Barnes & Noble of using its patented technology in e-readers running on Google-backed Android software. Taiwan-based Inventec Corporation was also targeted in Microsoft’s legal filings with the US International Trade Commission and a federal court…

Supreme Court denies banking group’s appeal to withhold Fed lending data

The Supreme Court let stand a ruling that the U.S. Federal Reserve must release data on emergency loans made to Wall Street banks during the financial crisis in 2008. The high court declined to hear the appeals of the Clearing House Association, a group that represents major commercial banks such…

Trump brags about accepting money from Gaddafi

When American real estate mogul Donald Trump agreed to lease part of his private estate to a group of Libyan investors in late 2009, chances are he wasn’t aware they’d be bringing Libyan dictator Mummar Gaddafi in for a prolonged stay. In fact, at the time he sternly denied any…

Home sales dive, prices near 9-year low

WASHINGTON (Reuters) – Sales of previously owned U.S. homes plunged in February and prices hit their lowest level in nearly nine years, implying a housing market recovery was still a long way off. The National Association of Realtors said on Monday sales fell 9.6 percent month over month to an…

FDA stops short of calling for ban on menthol cigarettes

The Obama administration has shown that it is willing to consider bold new regulations on tobacco, but a recent study conducted for the Food and Drug Administration (FDA) was seen as unlikely to give the president enough rhetorical force to ban mentholated cigarettes from U.S. markets. Unlike a prior FDA…

Google accuses China of blocking Gmail

BEIJING (AFP) – Google accused the Chinese government on Monday of interfering with its Gmail service, after weeks of online disruptions that have coincided with calls for protests emulating those in the Middle East. “There is no technical issue on our side — we have checked extensively. This is a…

Boeing’s new 747 successfully completes first test flight

SEATTLE (Reuters) – Boeing Co’s 747-8 Intercontinental, the new passenger version of its legendary jumbo jet, completed its maiden flight without a hitch on Sunday, marking a key milestone for the aircraft model more closely associated with Boeing than any other plane. The behemoth began its first test flight from Boeing’s…

AT&T buying T-mobile for $39 billion

NEW YORK (Reuters) – AT&T Inc said on Sunday it would buy Deutsche Telekom AG’s T-Mobile USA, in a $39 billion cash-and-stock transaction that would create a new industry behemoth by combining two of the four largest U.S. wireless carriers. The purchase price includes a cash payment of $25 billion…

Facebook to buy mobile app developer Snaptu

NEW YORK – Facebook has agreed to buy Snaptu, an application developer for mobile devices that are less sophisticated than smartphones, as the world’s largest Internet social network focuses on expanding its mobile services. Facebook will pay up to $70 million for the London-based Snaptu, according to the Israeli newspapers…

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