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Exclusive: China Unicom counts Alibaba, Tencent among investors in drive to raise $10 billion – sources

June 22, 2017 By Julie Zhu and Kane Wu HONG KONG (Reuters) – Chinese tech giants Alibaba Group Holdings and Tencent Holdings will be among new investors pouring a total of around $10 billion into mobile carrier China Unicom, sources said, part of efforts by Beijing to rejuvenate state behemoths with private cash. Four sources with knowledge of the matter told Reuters that Alibaba and Tencent would invest in the Shanghai-listed unit of the telecoms group – China United Network Communications Ltd – as part of the capital-raising effort. One…

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bank Business Louisiana state WASHINGTON 

U.S. jobless claims rise, labor market still tight

June 22, 2017 WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits increased slightly last week, but remains at levels consistent with a tight labor market. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 241,000 for the week ended June 17, the Labor Department said on Thursday. Economists polled by Reuters had forecast first-time applications for jobless claims rising to 240,000 in the latest week. Following the report, the dollar held at slightly lower levels against a basket of currencies while U.S. Treasuries were…

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Business California case Missouri Supreme Court state 

Supreme Court ruling threatens massive talc litigation against J&J

June 20, 2017 By Nate Raymond (Reuters) – Johnson & Johnson is seizing upon a U.S. Supreme Court ruling from Monday limiting where injury lawsuits can be filed to fight off claims it failed to warn women that talcum powder could cause ovarian cancer. New Jersey-based J&J has been battling a series of lawsuits over its talc-based products, including Johnson’s Baby Powder, brought by around 5,950 women and their families. The company denies any link between talc and cancer. A fifth of the plaintiffs have cases pending in state court…

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Economy Libya OECD OPEC state Top News 

Oil prices hold near seven-month lows, glut keeps dragging

June 20, 2017 By Aaron Sheldrick TOKYO (Reuters) – Oil markets held around seven-month lows on Tuesday as investors focused on persistent signs of rising supply that are undermining attempts by OPEC and other producers to support prices. Brent futures were up 4 cents at $46.95 at 0214 GMT. On Monday, they fell 46 cents, or 1 percent, to settle at $46.91 a barrel. That was their lowest since Nov. 29, the day before the Organization of the Petroleum Exporting Countries (OPEC) and other producers agreed to cut output for…

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case court Deadlocked Cosby Entertainment state Top News 

Cosby again seeks mistrial with no end in sight for jury deliberations

June 17, 2017 By Joseph Ax NORRISTOWN, Pa. (Reuters) – Bill Cosby’s defense lawyer asked a judge to declare a mistrial in his sexual assault case for at least the sixth time on Friday night, arguing that the jury’s deliberations, which will enter a sixth day on Saturday, have dragged on too long. “We had a 36-hour trial, and this is the 52nd hour” of deliberations, a visibly frustrated Brian McMonagle told Montgomery County Court of Common Pleas Judge Steven O’Neill at about 8:45 p.m. Friday was the jury’s fourth…

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Congress House Republican state Tech Top News Trump Administration 

U.S. states could not set self-driving car rules under Republican plan

June 15, 2017 By David Shepardson WASHINGTON (Reuters) – California and other states would be barred from setting their own rules governing design and testing of self-driving cars, while federal regulators would be blocked from demanding pre-market approval for autonomous vehicle technology, according to a U.S. House Republican proposal reviewed by Reuters on Thursday. The draft legislation, while far from becoming law, still represents a victory for General Motors Co, Alphabet Inc, Tesla Inc and other automakers and technology companies seeking to persuade Congress and the Trump administration to pre-empt…

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accounts Florida Money New York state Top News 

Your Money: Money secrets of parents with multiple kids in college

June 15, 2017 By Beth Pinsker NEW YORK (Reuters) – Sometime soon after his fourth child was born, it dawned on Howard Krooks that he was going to be on the hook for 12 consecutive years of college tuition payments when they all grew up. It scared him into action. “I’m a planner. I don’t like surprises,” said Krooks, an elder law attorney in Boca Raton, Florida. Krooks figures he will spend upwards of $1 million to put four children through college. His oldest child is now 19 and attending…

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bank Business report state WASHINGTON 

U.S. jobs market firming; inflation pressures easing

June 15, 2017 By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell more than expected last week, pointing to shrinking labor market slack that could allow the Federal Reserve to raise interest rates again this year despite moderate inflation growth. Inflation is unlikely to pick up any time soon as other data on Thursday showed import prices recorded their biggest drop in 15 months in May. The Fed on Wednesday raised interest rates for the second time this year, saying it expected economic activity…

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California Commerce Committee state Tech Top News Transportation Department 

Senators unveil road map for self-driving car legislation

June 13, 2017 By David Shepardson WASHINGTON (Reuters) – A bipartisan trio of U.S. senators said on Tuesday they planned to introduce legislation to remove regulatory roadblocks to the introduction of self-driving cars, including sorting out conflicts between state and federal rules. Republican Senator John Thune, who chairs the Commerce Committee, Bill Nelson, the top Democrat on the panel, and Senator Gary Peters, a Michigan Democrat, said in a joint statement that existing federal vehicle regulations written over recent decades did not account for self-driving cars without a human driver…

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bank Business increase state WASHINGTON 

Jobless claims drop; labor market slack shrinking

June 8, 2017 By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits fell last week, unwinding half of the prior period’s jump and suggesting the labor market was tightening despite a recent slowdown in job growth. Initial claims for state unemployment benefits declined 10,000 to a seasonally adjusted 245,000 for the week ended June 3, the Labor Department said on Thursday. The report followed data on Tuesday showing job openings at a record high in April. “There is no sign of a pickup in the…

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