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Jury Urged to Convict 'Pharma Bro' Shkreli of Fraud, Stealing

NEW YORK — A U.S. prosecutor on Thursday urged jurors to convict former drug company executive Martin Shkreli of defrauding investors in his hedge funds and stealing from his old company to repay them. In a five-hour closing argument capping off a month-long trial, Assistant U.S. Attorney Alixandra Smith told jurors in Brooklyn federal court that Shkreli told “lies upon ...

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Shell Prepares for 'Lower Forever' Oil Prices

LONDON—Royal Dutch Shell PLC presented a pessimistic vision for the future of oil on Thursday, even as the company reported success in generating cash during a prolonged energy downturn. Shell has cut costs and said it is preparing for a world in which crude prices may never regain precrash levels and petroleum demand eventually declines. Shell Chief Executive Ben van ...

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Libor Brought Scandal, Cost Billions — and May Be Going Away

LONDON — The benchmark is one of the most important in the world. It underpins trillions of dollars in financial products. It was the center of a huge scandal when banks were accused of rigging it. Now Libor is going away. British regulators said on Thursday that they wanted to phase out the scandal-plagued interest rate by 2021, replacing it ...

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Field services provider Cityside Management pays $4.3M to settle False Claims Act allegations

Cityside Management Corporation, a field services provider, paid $ 4.3 million to settle allegations that the company lied to the Department of Housing and Urban Development about supervising rehab work on HUD-owned houses. The settlement was announced Thursday by the U.S. Attorney’s Office for the Eastern District of California and the Office of the Inspector General of HUD. According to ...

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Is Working From Home Not Working Out?

With companies such as Yahoo, Bank of America, Aetna — and, most recently, IBM — reducing or completely eliminating their telecommuting programs, what’s behind the removal of a perk that many managers admit enables workers to increase their productivity? New data from the Bureau of Labor Statistics American T… NBC News Business

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US Stocks Rise, Led by Media and Phone Companies

NEW YORK — U.S. stocks are on track to set more records Thursday as media companies and phone companies rise. Verizon Communications and Comcast are climbing after their second-quarter reports, while Facebook jumps as investors are pleased with its earnings, advertising revenue, and spending. Health care companies are lagging the rest of the market. KEEPING SCORE: The Standard & Poor’s ...

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Jeff Bezos Surpasses Bill Gates as the World's Richest Man

Jeff Bezos is now the richest person in the world, with a fortune of more than $ 90 billion. The Amazon CEO took the title previously held by Microsoft founder Bill Gates when markets opened Thursday and Amazon stocks edged up 1.6 percent — adding $ 1.4 billion to Bezos’ net worth, according to Forbes. <img class="img-responsive img_inline" src="" alt="Im… ...

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