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Wall Street gains for third day on signs of trade talk progress

(Reuters) - U.S. stocks rose on Tuesday, as industrial stocks and Amazon helped extend Wall Street’s rebound for a third day on rising hopes of progress in U.S.-China trade talks. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 7, 2019. REUTERS/Brendan McDermidThough little details emerged, a member of the U.S. delegation said the talks will continue for an unscheduled third day. U.S. President Donald Trump earlier tweeted that the talks were going “very well”. Trade-sensitive stocks such as Boeing Co (BA.N) and Caterpillar Inc (CAT.N) rose more than 2 percent, boosting the Dow Jones Industrial Average…

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Monsanto patent victory seen as a boost for biotech investment in India

NEW DELHI/MUMBAI (Reuters) - India’s Supreme Court ruled on Tuesday that Monsanto can claim patents on its genetically modified (GM) cotton seeds, a victory for the U.S. company that is expected to encourage biotechnology firms to step up investment in the country. FILE PHOTO - Monsanto logo is displayed on a screen where the stock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. on May 9, 2016. REUTERS/Brendan McDermid/File PhotoThe decision on appeal overturns an earlier ruling by the Delhi High Court that Monsanto - the world’s biggest seed maker, which has been bought by Germany’s Bayer AG…

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Nissan’s Ghosn claims innocence in first appearance since November arrest

TOKYO (Reuters) - Ousted Nissan Chairman Carlos Ghosn declared his innocence in his first public appearance since his November arrest, telling a Tokyo court on Tuesday that he had been wrongly accused of financial misconduct. Ghosn, credited with rescuing Nissan Motor Co from near-bankruptcy two decades ago, was brought into the courtroom in handcuffs and a rope around his waist. He was wearing a navy suit and white shirt without a tie, and looked thinner than before his arrest, with his dark hair showing gray roots. “I have been wrongly accused and unfairly detained based on meritless and unsubstantiated accusations,” the 64-year-old executive told the Tokyo District…

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Delay Brexit? Ireland would not stand in the way

LONDON/DUBLIN (Reuters) - Ireland said on Tuesday it would not block a possible request to delay Brexit after a newspaper reported that British and European officials had discussed the possibility of extending the formal divorce process from the bloc. Ireland's Minister for Foreign Affairs Simon Coveney speaks at a 'Global Ireland' news conference in Dublin, Ireland January 8, 2019. REUTERS/Clodagh KilcoyneThe future of Brexit remains deeply uncertain - with options ranging from a disorderly exit to another referendum - because British lawmakers are expected on Jan. 15 to vote down the deal that Prime Minister Theresa May struck with the EU in November. May has repeatedly ruled…

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PG&E falls further after S&P cuts credit rating to junk

(Reuters) - PG&E Corp’s shares fell 14 percent on Tuesday, after S&P Global stripped the California power company of its investment-grade credit rating in the face of massive claims stemming from deadly wildfires. PG&E crew work on power lines to repair damage caused by the Camp Fire in Paradise, California, U.S. November 21, 2018. REUTERS/Elijah Nouvelage S&P cut the rating on PG&E and its Pacific Power & Gas Co unit on Monday to “B” from “BBB-,” the lowest tier of so-called investment-grade ratings, citing political and regulatory pressure and uncertainty over its potential liabilities. The utility, whose roughly $18 billion in bonds fell on Monday due to…

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Stocks rally again as U.S.-China trade hopes build

LONDON (Reuters) - A strong day for Europe and a jump in Wall Street futures kept world stocks at a three-week high on Tuesday, after Asia was knocked back by a shock profit warning from tech giant Samsung. FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby MelvilleHopes that Washington and Beijing may be moving toward a trade deal helped the mood again and also gave the dollar a lift in the currency markets after its shaky start to the year. That rise, along with the alarm from South Korea’s Samsung that it would badly miss…

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Exclusive: Sears to ask bankruptcy judge for approval to liquidate – sources

NEW YORK (Reuters) - Sears Holdings Corp will ask a bankruptcy judge on Tuesday if it can proceed with liquidation after it could not reach an agreement on Chairman Edward Lampert’s $4.4 billion takeover bid, casting doubt on the survival of the 126-year-old U.S. department store chain, people familiar with the matter said. Should Sears liquidate its assets, it would become one of the most high-profile victims in the wave of bankruptcies that has swept the retail sector in the last few years, as the popularity of online shopping exacerbates the fierce price competition facing brick-and-mortar stores. In a stark contrast of the diverging fortunes of e-commerce…

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‘We are down, but not out’: Sears gets feisty on social media

(Reuters) - The clock may be fast running out on Sears Holdings Corp, but you wouldn’t know it from the company’s feisty posts on Twitter. FILE PHOTO: A dismantled sign sits leaning outside a Sears department store one day after it closed as part of multiple store closures by Sears Holdings Corp in the United States in Nanuet, New York, U.S., January 7, 2019. REUTERS/Mike Segar/File Photo“We are down, but not out... - SMT,” Sears, via its official Twitter account (@Sears), said in reply to one of the many posts Monday morning about the 126-year-old company potentially going out of business. The optimistic tweets come ahead of…

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Afghan Taliban call off peace talks with U.S. over ‘agenda differences’

PESHAWAR, Pakistan (Reuters) - The Afghan Taliban said on Tuesday they had called off peace talks with U.S. officials in Qatar this week due to an “agenda disagreement”, especially over the involvement of Afghan officials as well as a possible ceasefire and prisoner exchange. FILE PHOTO: Taliban walk as they celebrate ceasefire in Ghanikhel district of Nangarhar province, Afghanistan June 16, 2018.REUTERS/ParwizTwo days of peace talks had been set to start on Wednesday, Taliban officials told Reuters earlier, but the hardline Islamic militant group had refused to allow “puppet” Afghan officials to join. The war in Afghanistan is America’s longest overseas military intervention. It has cost Washington…

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German Man Confesses to Hacking of Public Figures’ Data, Officials Say

BERLIN — A young German man admitted to stealing and publishing online the personal data of hundreds of lawmakers, journalists and other public figures out of anger at their political statements, the authorities said Tuesday.They did not give any information about the political views of the 20-year-old suspect, who they said had acted alone. But the cyberattack targeted members of every leading political party except the far-right Alternative for Germany, or AfD.The leaked information — which included private email addresses, credit card information, personal chat exchanges and pictures of the subjects’ children — was available for a month before the federal cybersecurity services noticed it. The attacks…

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