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JPMorgan to close 5% of bank branches to cut costs

Feb 25, 2015

JPMorgan to close 5% of bank branches to cut costs

JPMorgan Chase plans to close 300 bank branches over the next two years, about 5 percent of the total, as more customers move online and the bank seeks to cut costs. The closures are part of a $1.4 billion cost-cutting plan the bank announced ...

Feb 25, 2015

U.S. consumer confidence slides after big January gain

U.S. consumers are feeling a bit less confident this month, but their spirits are still at the highest levels since before the Great Recession. The Conference Board reported Tuesday that its consumer confidence index dropped this month to 96.4 from a revised 103.8 in ...

Panel proposes cutting solar tariff by as much as 16%

Feb 24, 2015

Panel proposes cutting solar tariff by as much as 16%

The government is considering reducing incentives for developers of solar power projects by as much as 16 percent to reflect lower operating and maintenance costs. The tariff for applications approved between April 1 and June 30 could be cut to ¥29 per kilowatt hour ...

Hitachi agrees to buy two Finmeccanica rail businesses

Feb 24, 2015

Hitachi agrees to buy two Finmeccanica rail businesses

Hitachi Ltd. is set to buy Finmeccanica SpA’s rail business and a signals affiliate in its largest ever overseas acquisition as it seeks growth abroad. The Japanese industrial group, which makes nuclear power plant turbines, electronic equipment and industrial machinery will close the acquisitions ...

Greece submits reform documents in bid to secure bailout extension

Feb 24, 2015

Greece submits reform documents in bid to secure bailout extension

Caught between its own defiant campaign pledges and pressure from creditors, Greece’s left-wing government will deliver a list of reforms Tuesday to debt inspectors involved in the final approval of extended rescue loans, officials said. Prime Minister Alexis Tsipras was already facing dissent within ...

Feb 24, 2015

U.S. home sales plunged 4.9% in January

U.S. home sales hit a snow drift in January, plunging to the slowest pace in nine months. The National Association of Realtors said Monday that sales of existing homes tumbled 4.9 percent last month to a seasonally adjusted annual rate of 4.82 million. That ...

Feb 24, 2015

U.S. Supreme Court hands victory to Cuban cigar company

The U.S. Supreme Court handed a victory to a state-owned Cuban cigar company on Monday by declining to intervene in its long-running battle with a U.S.-based rival over the Cohiba trademark that both use for their products. By refusing to hear an appeal filed ...