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G20 promises transparency on rate moves as global economy disappoints

World financial leaders will agree to calibrate and communicate monetary policy carefully to avoid triggering capital flight, but will not call an expected U.S. rate rise a risk to growth, a draft communique showed on Friday. Many emerging market economies are concerned that when the U.S. Federal Reserve raises borrowing costs, investors will withdraw from other markets and buy dollar assets, weakening other currencies and creating turbulence as capital flees.

U.S. labor market shows some muscle despite slower job growth

U.S. job growth slowed in August, but the unemployment rate dropped to a near 7-1/2-year low and wages accelerated, keeping alive prospects of a Federal Reserve interest rate hike later this month. Nonfarm payrolls increased 173,000 last month after an upwardly revised gain of 245,000 in July, the Labor Department said on Friday. August’s gain was the smallest in five months as the factory sector lost the most jobs since

BlackBerry to buy rival Good Technology for $425 million

Canada’s BlackBerry Ltd (BB.TO) said on Friday it will buy rival mobile software provider Good Technology Corp (GDTC.O) for $425 million, to boost its ability to help corporate clients manage smartphones running on different operating systems. The cash deal may help BlackBerry, a one-time smartphone pioneer, win new customers for its services business, a priority as it shifts focus to device management software for enterprise customers. More than half the

Mall developer Taubman's $500 million art collection up for auction

Works by Pablo Picasso, Jackson Pollock and Amedeo Modigliani are going up for auction from the late U.S. mall developer A. Alfred Taubman’s collection, which is valued at more than $500 million, Sotheby’s said on Friday. The auction house said the more than 500 works stretching from antiquity to contemporary art make up the most valuable private collection ever offered at auction. The collection will be auctioned in New York