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Australia Follows EU, U.S. in Allowing Mobile Devices in-Flight

Passengers on Qantas and Virgin Australia from Tuesday were allowed to use mobile electronic devices in-flight with limited restrictions after a relaxation of the rules by the country's aviation authority.

The Civil Aviation Safety Authority (CASA) move, which followed similar decisions by the U.S. and European Union last year, allows passengers to have their devices on "flight mode" during taxiing, take-off and landing.

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Euro under Pressure after Weak German Data

The euro was stuck around $1.32 in Asia Tuesday after falling to an 11-month low against the dollar on a weak batch of German data and hints the European Central Bank could unveil easing measures to fight off deflation.

The common European currency was at $1.3201 in Tokyo afternoon trade compared with $1.3193 in New York on Monday afternoon. The unit at one point Tuesday tumbled to as low as $1.3178 -- its lowest since September.

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Turkey's Erdogan Risks Bumpier Economic Ride during Presidency

President-elect Recep Tayyip Erdogan has based his political success on a strong Turkish economy, but a tricky external environment and concerns about the wisdom of some policies means he may have a bumpier ride ahead.

The domination of Erdogan's Justice and Development Party (AKP), which came to power in 2002, was built out of the ruins of Turkey's economic crisis in 2001 when the stock market crashed and inflation soared.

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Report: Germany Optimistic on Outlook Despite Weak Q2

The German government remains optimistic in its outlook for Europe's biggest economy, despite negative growth in the second quarter, the weekly Der Spiegel reported Sunday.

For the whole of 2014, the German economy could even notch up faster growth than the 1.8 percent it is currently predicting, the magazine said, quoting Finance Minister Wolfgang Schaeuble.

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Asia Shares Mostly Up after Yellen Speech

Asian markets mostly rose Monday, while the dollar hit multi-month highs against the yen and euro after the head of the U.S. Federal Reserve seemed to indicate a shift towards a hike in interest rates sooner than expected.

While Janet Yellen's speech Friday said slackness in the jobs market would likely staunch inflation, investors noted her acknowledgement of calls for an early rate rise that analysts said may suggest she is thinking of such a move.

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Mimicking the Airlines, Hotels Get Fee-Happy

Forget bad weather, traffic jams and kids asking, "Are we there yet?" The real headache for many travelers is a quickly-growing list of hotel surcharges, even for items they never use.

Guaranteeing two queen beds or one king bed will cost you, as will checking in early or checking out late. Don't need the in-room safe? You're likely still paying. And the overpriced can of soda may be the least of your issues with the hotel minibar.

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France's Economy Minister Slams German Austerity Measures

French Economy Minister Arnaud Montebourg on Saturday criticized German austerity measures and warned France would no longer "be pushed around" by the EU's economic powerhouse.

"You have to raise your voice. Germany is trapped in an austerity policy that it imposed across Europe," the socialist minister said in an interview with Le Monde newspaper.

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Amazon Readying an Attack on Google's Ad Business

U.S. online giant Amazon is preparing to take on Google in one of its core businesses, Internet advertising, the Wall Street Journal said Friday, citing sources familiar with the matter.

Amazon is developing its own program to target ads using the information it gathers about the preferences of its customers.

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Golddman Sachs to Pay $3.15 bn to Settle Mortgage Case

Goldman Sachs will pay $3.15 billion to resolve claims it misled Fannie Mae and Freddie Mac on mortgage-linked securities it sold them before the U.S. housing bust, officials said Friday.

The Federal Housing Finance Agency, the conservator for Fannie and Freddie, which were rescued by the government during the 2008 crisis, said that Goldman will repurchase the securities it sold to the two effectively government-backed mortgage giants between 2005 and 2007.

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Bank of America Agrees $17 bn Deal over Dodgy Mortgages

Bank of America agreed Thursday to a record nearly $17 billion deal with U.S. authorities to settle claims it sold risky mortgage securities as safe investments ahead of the 2008 financial crisis.

Under the settlement with the Department of Justice, the Securities and Exchange Commission, and other authorities including individual states, the bank will pay out $9.65 billion in cash and provide $7.0 billion in relief to consumers affected by losses tied to those securities.

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