Economy

Staples, Office Depot Scrap Merger After Judge Blocks Deal

Staples and Office Depot said Tuesday they are scrapping their planned $6.3 billion merger after a federal judge blocked the deal, saying the government had made the case that the combination would likely hurt competition…

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Creator of online money Liberty Reserve gets 20 years in prison

Before the virtual currency Bitcoin there was Liberty Reserve — and its founder just got sentenced to 20 years in prison. Arthur Budovsky, 42, ran an online digital money business out of Costa Rica called…

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Hacker Group Anonymous Has a New Target

Hacktivists affiliated with Anonymous successfully took down the Greek Central Bank’s website. They said it was the first in a series of global central banks they plan to target over the course of the month….

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Justice Department approves deal to create new cable giant

Federal regulators will impose several conditions meant to protect online video services as they back Charter’s bid to buy Time Warner Cable and create the country’s second-largest home Internet provider. The Justice Department approved the…

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Microsoft Reports $20 Billion in Revenue for Q3 of FY2016

Microsoft Corp. today announced the latest results results for the quarter ended March 31, 2016, with over 20 Billion in Revenue created. Revenue was $20.5 billion GAAP, and $22.1 billion non-GAAP Operating income was $5.3 billion…

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78 Sears, Kmart stores to close

Trying to cut its way to profitability, troubled Sears Holdings announced Thursday that it will close 68 Kmart and 10 Sears stores this summer in its latest move to cut losses. The closings will not…

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Intel to cut up to 12,000 jobs as PC industry swoons

Intel Corp (INTC.O) said on Tuesday it would cut up to 12,000 jobs globally, or 11 percent of its workforce, as it refocuses its business towards making microchips that power data centers and Internet connected…

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Intel planning for thousands of job cuts, internal sources say

Intel Reports Record Full-Year Revenue of $55.9 Billion, Generates Net Income of $11.7 Billion, Up 22 Percent Year-over-Year Intel is preparing a significant round of job cuts across business units this spring, according to multiple…

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Why businesses are not using credit card chip readers

Major credit card companies urged retailers last October to make the switch to credit cards that used chips, instead of magnetic strips to complete transactions. But many consumers have noted that they continue to swipe rather than…

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H.R. 2666, the so-called No Rate Regulation of Broadband Internet Access Act

This is how the cable and phone companies will destroy online video competition and rip you off in the process. Later this week, the House will vote on H.R. 2666, the so-called No Rate Regulation…

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