Lawsuit on hotels' internet advertising tactics moves forward

WASHINGTON (Reuters) – A class action lawsuit filed against Hyatt Hotels Corp, Marriott International, Wyndham Hotel Group and two other companies accusing them of conspiring to not compete online as well as harming consumers, survived a motion to dismiss on Thursday. Judge Rebecca Pallmeyer of the U.S. District Court for the Northern District of Illinois rebuffed a request by the […]

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House panel interviews Sater, holds hearing in Russia probe

WASHINGTON (Reuters) – The House of Representatives intelligence committee said on Thursday it will hold an open hearing and an interview with Felix Sater, a Russian-American involved in negotiations to build a Trump Tower in Moscow, next week as part of its Russia investigation. The intelligence panel’s open hearing next Thursday will focus on the Kremlin’s use of money, oligarchs […]

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White House rejects Democrats' demands for information on Trump-Putin talks: reports

WASHINGTON (Reuters) – The White House has rejected a request by Democratic lawmakers to provide information about President Donald Trump’s communications with Russian President Vladimir Putin, according to media reports on Thursday. The White House sent its denial in a letter to Congress, according to reports by The Hill newspaper and CNN. U.S. Representatives Adam Schiff, Eliot Engel and Elijah […]

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Biogen scraps Alzheimer drug trials, wiping $17 billion off its market value

(Reuters) – Biogen and partner Eisai Co Ltd are ending two late-stage trials for the experimental Alzheimer’s drug aducanumab, in a setback to efforts to find treatments for the disease and for Biogen’s stock, which lost more than $17 billion of its value on Thursday. Without the potential revenue from an Alzheimer’s drug, the company has poor growth prospects as […]

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Stocks attempt post-Fed bounce as Wall digests dovish stance; Levi Strauss set for its IPO

U.S. stocks opened lower on Thursday but soon cut early losses, as investors digest the Federal Reserve’s downgrade of the domestic economic outlook for 2019, citing sluggish global expansion. As expected, the central bank kept its key rate at a range of 2.25% and 2.50%, but a more dovish policy stance than investors has undercut the buying appetite on Wall […]

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Solar and wind firms call the 'Green New Deal’ too extreme

WASHINGTON/LOS ANGELES (Reuters) – U.S. solar and wind power companies may have the most to gain from the Green New Deal, an ambitious proposal backed by several Democratic presidential candidates to end U.S. fossil fuel consumption within a decade. But do not expect the renewable energy firms to endorse it. Representatives of America’s clean energy companies are withholding their support […]

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Bank of England keeps rates on hold as businesses brace for no-deal Brexit

LONDON, March 21 – The Bank of England kept interest rates steady on Thursday and said most businesses felt as ready as they could be for a no-deal Brexit that would likely hammer economic growth and jobs. The BoE said its nine rate-setters voted unanimously to keep interest rates on hold at 0.75 percent, just days before the world’s fifth-biggest […]

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Google's new gaming service will let game makers use rival clouds, executive says

SAN FRANCISCO (Reuters) – A Google executive offered new details on Wednesday about the company’s upcoming video game streaming service, telling Reuters that game makers may use competing cloud providers and must avoid some inappropriate content. Google, owned by Alphabet Inc, unveiled Stadia on Tuesday, saying the service launching this year would make playing high-quality video games in an internet […]

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Fed sees no rate hikes in 2019, plans balance sheet reduction slowdown

WASHINGTON (Reuters) – The Federal Reserve took a sharply less aggressive policy posture on Wednesday, signaling it will not hike interest rates this year amid a slowing economy and announcing a plan to end its balance sheet reduction program by September. The U.S. central bank reiterated its pledge to be “patient” on monetary policy, and said it would start slowing […]

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