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US growth hits 4.1%, fastest since 2014

Bloomberg The US economy accelerated to a 4.1 percent pace of growth in the second quarter, the fastest since 2014, letting President Donald Trump claim a win for his policies even though expansion is projected to cool. The annualized rate of gains in gross domestic product was just shy of the 4.2 percent median forecast in a Bloomberg survey. It ...

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IBM wins $83mn from Groupon in ‘patent’ fight

Bloomberg A US jury awarded International Business Machines Corp. $82.5 million after finding that Groupon Inc. infringed four of its e-commerce patents. The verdict is a boon to IBM’s intellectual-property licensing business, which last year brought in $1.19 billion for the company, holder of more than 45,000 patents. Groupon fell 7.8 percent to $4.84 in New York trading. IBM sued ...

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Steinhoff’s ex-Europe CFO quits

Bloomberg Steinhoff International Holdings NV said the former head of finance in Europe has left the boards of two key units as an investigation into the scandal-hit retailer’s inaccurate accounts deepens. The owner of Conforama in France and Mattress Firm in the US, which last week won support from a majority of creditors to restructure its 9.4 billion euros ($11 ...

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