China says Indian prime minister to visit next week

Indian Prime Minister Narendra Modi will visit China next week, the Chinese Foreign Ministry said on Tuesday, his first trip to India's northern neighbor since being elected last year. Modi will be in China from May 14-16, the ministry said in a brief statement. China and India have growing commercial links and deep historical ties, but their recent history has been overshadowed by suspicion and the two have yet to sort out a festering border dispute.

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Expedia shares soar on strong bookings despite strong U.S. dollar

Expedia Inc on Thursday reported first-quarter profit that exceeded analysts’ expectations as it earned more money from travel bookings in and outside the United States, despite foreign currencies falling relative to the U.S. dollar.

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U.S. firms lead EU lobbying league

By Alastair Macdonald BRUSSELS (Reuters) – U.S. companies, including tech rivals Microsoft and Google , were among leading spenders on corporate lobbying in Brussels last year, a Reuters review of new data showed (table below)

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Global business groups urge China to suspend bank IT rules

By Krista Hughes WASHINGTON (Reuters) – Business associations from the United States, Japan and Europe told Chinese officials on Monday they still have “strong concerns” about bank information technology rules and urged Beijing to formally suspend them. The joint letter, from 31 trade associations, increases pressure over rules pushing China's state-owned banks to buy technology from domestic vendors, which the U.S. trade office has said could breach China's international trade commitments

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EU’s Oettinger expects decision on Google case in next few days

The European Union's digital commissioner Guenther Oettinger said he expects the European Commission to make a decision in a five-year investigation over whether Google has abused its dominant position in the next few days. “We have to make or even force platforms, search engines to follow our rules in Europe,” Oettinger said an event organized by engineering association VDMA on the sidelines of the Hanover Trade Fair.

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U.S., European police break up network of 12,000 computers taken over by criminals

Law enforcement agencies in Europe and the United States have dismantled a network comprising at least 12,000 in computers that had been taken over by criminals, Europol said on Thursday. The software used to infect the computers was “very sophisticated” but the network was relatively small compared to others uncovered in the past, Europol said in a statement. Those behind the network or “botnet” infected computers with the software and may then have sold to others the right to install further malicious programs, said Paul Gillen, the head of operations at Europol’s Cybercrime Centre.

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Austrian student’s lawsuit vs Facebook bogged down in procedure

By Shadia Nasralla and Angelika Gruber VIENNA (Reuters) – Facebook presented a long list of procedural objections to an Austrian court on Thursday trying to halt a class action lawsuit for 25,000 users that accuses the social media giant of violating their privacy. The first day of hearings began with a four-hour session in which Facebook's lawyers tried to convince the judge not to admit the suit brought by law student Max Schrems, 27, who is claiming 500 euros ($538) in damages for each user

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French broadcaster TV5Monde hacked: Yahoo News

(Reuters) – French television network TV5Monde was hacked late on Wednesday by individuals claiming they support Islamic State, Yahoo News reported, citing a report by Agence France-Presse (AFP). The network was not able to broadcast from any of its channels and its social media sites and websites were “displaying claims of responsibility by Islamic State,” TV5Monde’s Director General Yves Bigot told AFP, according to the Yahoo report.

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Apple faces local battles as it prepares global payments push

By Eric Auchard FRANKFURT (Reuters) – Apple has made mobile payments look easy, after a decade of mostly failed experiments by banks, telecom operators and retailers to woo consumers away from cards and cash. Apple Pay has taken the United States by storm since its launch in September, and the company has said it already accounts for around $2 out of every $3 spent using “contactless” payments on the three big U.S. card networks

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