Top business news

Uber caps surge pricing in winter storm
After enduring severe criticism in previous disasters, Uber is capping how much fares can be increased during the major snowstorm that's hitting the US.
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US deficit to shrink to record lows
The Congressional Budget Office says the federal budget deficit will shrink this year to $US468 billion.
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Russia investment grade rating stripped
Standard & Poor's rating agency has downgraded Russia's credit grade by one notch to junk status, citing a weakened economic outlook.
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Coinbase opens first US bitcoin exchange
Bitcoin wallet operator Coinbase has opened the first regulated US exchange for the form of e-money that can be stored virtually.
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Kuwait projects $US24billion deficit
Kuwait has projected a $US24 billion ($A30.52 billion) deficit in its new fiscal year budget despite a massive spending cut.
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MeadWestvaco, Rock-Tenn set to join
Rock-Tenn and MeadWestvaco are set to join forces to create a $US16 billion global packaging company.
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Toy maker Mattel's CEO resigns
Mattel's CEO Bryan Stockton has resigned, as the toy maker reports preliminary four-quarter earnings that missed Wall Street expectations.
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German business confidence higher
Germany's business confidence index has risen to a six-month high.
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Pakistan fuel crisis affects credit rating
Pakistan's credit worthiness may be affected by its ongoing fuel shortage that is leading to worsening power blackouts.
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Aer Lingus considering improved bid
Irish airline Aer Lingus has confirmed it is looking at an improved takeover offer from International Airlines Group worth 1.35 billion euros.
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