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Google breakup call under consideration by European Parliament: reportExternal Link

SAN FRANCISCO (MarketWatch) -- European elected officials are preparing to call for a breakup of Google Inc. , according to a published report Friday. A draft motion from the European Parliament indicates "unbundling of Google's search engine from other commercial services" would be a solution to the company's dominance, The Financial Times reported. The European Parliament has no actual power to break up companies, but the move could pressure the European Commission to take action, according to the report.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 21 Nov 2014 23:28:32 GMT
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Obama tells Congress to avoid shutdown over immigration External Link

WASHINGTON (MarketWatch) -- Congress should not shut down the government over a disagreement on immigration policy, President Barack Obama said Friday. Speaking in Las Vegas, Obama defended his executive orders to offer work permits and reprieve from deportation to millions of unauthorized immigrants. Republicans have pledged to roll back Obama’s orders, and some GOP members want to use a government funding bill to block the president's actions. That could lead to a government shutdown, which Republican leaders want to avoid.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 21 Nov 2014 21:33:29 GMT
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First Fed hike won't come until December 2015: CitiExternal Link

WASHINGTON (MarketWatch) - Citigroup on Friday became one of the first financial institutions to push back its forecast of the Federal Reserve's first rate hike. In a research note to clients, William Lee, Citigroup's chief economist said the Fed won't move until December 2015, later than his prior estimate of September. The economy was facing a growing number of "downside risks," Lee said. He noted that the Fed staff has lowered its economic outlook for the medium term at each of the last two policy meetings.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 21 Nov 2014 21:25:05 GMT
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S&P 500 scores 45th record close this yearExternal Link

NEW YORK (MarketWatch) -- U.S. stocks rose modestly on Friday, as investors welcomed a fresh dose of liquidity from China's central bank and dovish comments from European Central Bank President Mario Draghi. China's central bank cut its one-year loan and one-year deposit rate to stimulate its economy. Meanwhile, Draghi said the ECB will do what it "must to raise inflation and inflation expectations as fast as possible," at a banking conference in Frankfurt. All three benchmarks recorded fifth-straight week of gains. Central banks' action triggered a rally in materials and energy stocks, which led the gains on the S&P 500 . The benchmark index closed 10.75 points, or 0.5% higher at 2,063.50. The Dow Jones Industrial Average jumped 91.06 points, or 0.5%, to 17,810.06. The Nasdaq Composite ended the day up 11.10 points, or 0.2%, at 4,712.97.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 21 Nov 2014 21:05:53 GMT
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ECB drops Citigroup from its working group on foreign exchangeExternal Link

NEW YORK (MarketWatch) -- Citigroup Inc. has been dropped from the European Central Bank's working group on foreign exchange, according to the latest member list, according to reports Friday. The move comes after the bank was part of a $4.3 billion global foreign exchange settlement involving five other banks and regulators from the U.S. and U.K. The banks were charged with manipulating the foreign exchange market and not adequately supervising their employees. Citi received a $1 billion fine, the highest of the group. J.P. Morgan Chase & Co. , UBS AG , Royal Bank of Scotland Plc , Bank of America Corp. and HSBC Inc. were also part of the settlement. More than $5 trillion changes hands every day in the foreign-exchange market. The ECB and Citigroup declined to comment. Of the banks that were fined, Citigroup was the only one on the ECB's list.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 21 Nov 2014 16:13:00 GMT
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