US can have 'unlimited minimum wage': Larry Kudlow

Larry Kudlow on minimum wage White House economic adviser Larry Kudlow on $20 minimum wage. White House economic adviser Larry Kudlow said on Tuesday that the U.S. economy is thriving and the minimum wage is headed toward $20. Continue Reading Below “We have tremendous prosperity. We are growing across the board. Unemployment is down. Wages are up. Consumers are booming — it’s […]

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Martin Gilbert to step down from Standard Life Aberdeen's board: Financial Times

LONDON (Reuters) – Veteran fund manager Martin Gilbert is to step down from the board of British fund firm Standard Life Aberdeen to take up a role as the chairman of digital bank Revolut, the Financial Times reported on Tuesday, citing sources. His departure from the group, the product of an 11 billion pound merger between Standard Life Investments and […]

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Travelers profit misses as higher claims weigh on underwriting gain

(Reuters) – Insurer Travelers Cos Inc (TRV.N) missed Wall Street estimates for second-quarter profit on Tuesday, as weather-related losses led to an 18% drop in underwriting gain. Strong wind and hailstorms during the quarter tore apart homeowners’ roofs, pummeled cars and wreaked havoc, triggering a spate of claims that proved to be challenging for U.S. insurers including Travelers. Claims rose […]

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Strong Asian demand buoys sales at Birkin bag maker Hermes

PARIS (Reuters) – Surging demand in Asia and especially mainland China helped Birkin handbag maker Hermes (HRMS.PA) post better-than-expected sales growth for the second quarter, in an encouraging signal for some of its major luxury goods rivals. The industry has so far largely shrugged off any fallout from a Beijing-Washington trade war that could potentially hit consumer sentiment in its […]

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Police fire teargas to break up massive protests demanding Puerto Rico governor resign

SAN JUAN (Reuters) – Police in San Juan fired tear gas on Monday night to disperse thousands of protesters demanding Puerto Rico’s governor resign over offensive chat messages, the latest scandal to hit a bankrupt island struggling to recover from 2017 hurricanes. Police moved in at around 11 p.m. to break up protesters still on the streets of San Juan’s […]

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Bunge and BP team up in Brazil bioenergy venture, create No. 3 sugarcane processor

SAO PAULO (Reuters) – U.S. commodities trader Bunge Ltd (BG.N) and British energy company BP Plc (BP.L) said on Monday they will merge their Brazilian sugar and ethanol operations to create the world’s third-largest sugarcane processor. The joint venture is the largest deal in Brazil’s bioenergy sector since Royal Dutch Shell (RDSa.L) joined forces with Cosan (CSAN3.SA) to form industry […]

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Equifax's $700 million data breach settlement spurs calls for new rules

WASHINGTON (Reuters) – Credit-reporting company Equifax Inc (EFX.N) will pay up to $700 million to settle claims it broke the law with a massive 2017 data breach and to repay harmed consumers, in a landmark settlement that could spur new consumer data rules. The largest-ever settlement for a data breach draws to a close multiple probes into Equifax by the […]

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U.S. Congress, White House near deal on spending, debt limit: source

WASHINGTON (Reuters) – U.S. congressional and White House negotiators are close to a deal to extend the Treasury Department’s borrowing authority until July 31, 2021 and establish spending caps on a range of federal programs, a source close to the talks said on Monday. Details were still being worked out, according to the source, who said negotiators were aiming to […]

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Wall Street gains as earnings season gathers steam

(Reuters) – U.S. stocks rose on Monday, lifted by technology companies, as investors eyed fresh U.S.-China trade developments during a busy week of corporate earnings with results from marquee names including Facebook and Amazon on tap. Second-quarter earnings started off on a dour note last week as results from major banks raised concerns about profit growth in a low interest […]

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