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Summary: Yellen says U.S. job market is still in recovery; Stocks mostly lower; iPhone 6 hits production snags. Bobbi Rebell reports.
Despite being flush with cash, companies are choosing to forego long-term business investment in favor of short-term gains from stock buybacks and M&A activity. Lily Jamali reports.
Reuters has learned Apple is scrambling to get enough screens ready for the iPhone 6. Sources say it's unclear whether this could delay the launch. Fred Katayama reports.
Iceland evacuates an area north of the country's Bardarbunga volcano, as the country's civil protection agency says it cannot rule out an eruption. Authorities have already warned airlines. As Joel Flynn reports, ash from the eruption of the Eyjafjallajokull volcano in 2010 shut down much of Europe's airspace for six days.
Following its biggest ever quarterly loss, Elizabeth Arden says a slide in sales of celebrity perfumes, especially the Justin Bieber and Taylor Swift brands, is to blame. Ciara Lee asks if the market for celebrity endorsements has reached saturation point?
Rich Russians have been frequenting luxury European resorts such as St Tropez and Courchevel since the late 90s. But Russia's weakening economy due to Ukraine crisis is having a major impact on the tourist industry. Hayley Platt reports
Jeffrey Goldfarb and Martin Hutchinson discuss some of the dubious notions on wealth, money supply and regulation that have grown out of the Great Recession.
Ron Kaplan, CEO of decking manufacturer Trex, says fiscal concerns explain why many companies are foregoing capex for buybacks and M&A, but adds that the U.S. is still the safest bet in the world.
Britain's Co-operative Bank reported a narrower loss for the first six months of 2014 compared with the same period a year earlier. As Joanna Partridge reports, axing jobs and closing branches following a restructuring is beginning to pay off.
UK-based Malloy Aeronautics is preparing to test a manned quadcopter capable of out-manouvering a helicopter and presenting a new paradigm for aerial vehicles. A 1/3-sized scale model is already gaining popularity with drone enthusiasts around the world, with the full-sized manned model expected to take flight in the near future. Matthew Stock reports.
Swaha Pattanaik and Edward Hadas examine the key challenges for central bankers, now gathered for their annual Wyoming pow-wow.
Aug. 22 - China's biggest banks report earnings as investors eye a worrying rise in non-performing loans, says Tara Joseph.
Aug. 22 - The world's largest telecom operator is looking to invest a large cash pile overseas, but Breakingviews' Ethan Bilby warns that getting swift and big returns will not be easy.
Aug. 22 - The downturn in Greece is forcing businesses and entrepreneurs to seek non-traditional markets further afield, with olive plantations to tourism operators now directly targeting Chinese consumers.
Brands in the premium luxury segment are taking different approaches to manage their relationships with Amazon, and sometimes walking a fine line. Lily Jamali reports.
Summary: Upbeat economic data drives the S&P 500 to a new record; Bank of America reaches $17b settlement; Family Dollar rejects Dollar General bid in favor of Dollar Tree, Sears reports yet another loss. Bobbi Rebell reports.
Morningstar equity analyst Paul Swinand says premium luxury brands tend to avoid working with Amazon because they're reluctant to cede control.
Mabel McLean of L2 discusses thinktank's findings showing how some premium luxury brands are striking deals with Amazon, while others prefer to keep the e-commerce giant at arms length.
Ivory Coast commercial capital, Abidjan has begun to see the economic impact of the Ebola crisis ravaging neighboring nations, with many airlines cancelling routes to and from Ebola-hit countries. Gavino Garay reports.