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(MENAFN - AFP) The world's largest retailer Walmart has sued credit card giant Visa for more than $5 billion for conspiring with banks to fix fees that merchants pay for accepting Visa card payments.

In the suit filed this week in Arkansas, where Walmart is based, the retailer said Visa worked with some of the largest US banks "to illegally fix the interchange fees and ...


(MENAFN - AFP) Microsoft unveiled a version of its popular Office software suite for iPad tablets Thursday as the company's new chief moved to expand its "Internet cloud" footprint.

Microsoft chief executive Satya Nadella laid out a vision of making the company the master of programs and services offered in the cloud for whatever gadgets people prefer.

The US technology ...


(MENAFN - AFP) The World Health Organisation officially certified India and 10 other Asian countries free of polio on Thursday, a milestone lauded as a "momentous victory" over an ancient scourge.

The Southeast Asian region, which includes India but excludes Afghanistan and Pakistan, was certified by a panel of experts after the countries went three years without reporting ...


(MENAFN - AFP) German Economy Minister Sigmar Gabriel has warned the EU Commission in Brussels that Berlin may withhold its approval of landmark EU-US trade talks over a contentious arbitration mechanism.

In a letter addressed to EU Trade Commissioner Karel de Gucht, Gabriel insisted that the new provision -- known as the investor-state dispute settlement (ISDS) -- be ...

27 Mar 2014   US jobless claims fall 

(MENAFN - AFP) First-time claims for US unemployment benefits fell last week, adding to signs of a firming jobs market, government data showed Thursday.

Initial jobless claims, a sign of the pace of layoffs, totaled 311,000 in the week to March 22, down from 321,000 the previous week, the Labor Department said.

The four-week moving average fell by 9,500 to 317,750 ...


(MENAFN - AFP) The US economy grew at an annual rate of 2.6 percent in the fourth quarter of last year, expanding more strongly than previously thought as consumers spent more.

The Commerce Department on Thursday revised higher its prior 2.4 percent estimate of gross domestic product growth for the period, matching analyst expectations.

"The general picture of economic ...


(MENAFN - AFP) Swedish fashion giant H&M announced strong profits Thursday amid plans for a large-scale expansion of outlets in Asia and online but shares dropped sharply as the figures missed expectations.

The group reported a 7.7-percent annualised growth in profits to $409 million (297 million euros) for the first quarter of 2014 -- running from December to February ...


(MENAFN - AFP) Jitendra Saini stares at the gleaming solar panels on his farm in Rajasthan, paid in large part by the ruling Congress party, as he considers who will get his vote in India's election.

"We will be voting for Modi... because Modi knows what real development is," said Saini, 30, as he sat on the porch of his new two-storey home with his family.

Saini's ...


(MENAFN - AFP) President Vladimir Putin on Thursday said Russia should create its own national payment settlement system, in a clear bid to become more independent of the West amid the controversy over Moscow's seizure of Crimea.

"In countries such as Japan and China these systems work, and work very well," Putin was quoted as saying by Russian news agencies. "Why should ...


(MENAFN - AFP) The Industrial and Commercial Bank of China, the country's biggest lender by assets, said on Thursday its net profit rose 10.2 percent last year, amid "still-complicated" global economic situation.

The bank, a symbol of the nation's financial might, reported in a filing to the Hong Kong Stock Exchange that its 2013 net profit to be 262.97 billion yuan ($42.32 ...

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