Latest Breaking Business News
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Brazil Raises FGC Bank Deposit Guarantee Coverage to BRL250000
Brazil's National Monetary Council authorized on Thursday an increase of the coverage of the country's FGC bank deposit guarantee fund to provide greater protection to depositors and align the country's policies with deposit guarantee practices abroad, the council said.The move had previously been approved at a board meeting of institutions participating in the FGC fund, which is ...
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OMERS considering proposal to reduce pension payouts
Faced with a $10-billion pension-funding deficit, one of Canada’s largest pension funds is considering a drastic proposal that would reduce benefits paid to retiring workers -- or force them to work years longer for the same retirement ...
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Campbell Soup buys Plum Organics
NEW YORK Campbell Soup said it's buying Plum Organics, which makes food for babies and kids, for an undisclosed amount as it looks to move into faster-growing categories. The company, which also makes Prego pasta sauces and Pepperidge Farm cookies, had been struggling to grow sales of its canned soups in recent years as people increasingly look for foods with a fresher feel. To diversity ...
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Cheaper Store-Brand Sunscreens Protect Better Than Costly Counterparts
Image credit: Getty Images You might think that a costly sunblock would be better at blocking UVA and UVB rays than a store brand at, say, Walgreens. However, according to Consumer Reports’ annual ...
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Hewlett-Packard Rue21 Buckle are big movers
NYSEHewlett-Packard Co., up $3.63 at $24.86The computer company's second-quarter results beat Wall Street expectations. It also boosted its full-year earnings forecast.Ralph Lauren Corp., down $4.37 at $183.69The luxury company posted a 35 percent jump in its fourth-quarter profit, but economic challenges in the U.S. and abroad cut into sales.The Buckle Inc., down $1.72 at $55.42The ...
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UPDATE 2-Goldman unveils checks on conflicts in bid to fix image
Thu May 23, 2013 7:15pm EDT By Lauren Tara LaCapra SALT LAKE City May 23 (Reuters) - After dozens of meetings with executives and regulators, 100,000 hours of employee training and an immeasurable amount of public grief, Goldman Sachs Group Inc's Lloyd Blankfein claimed success in putting the bank and his legacy as CEO back on track. At Goldman's annual meeting on Thursday, Blankfein ...
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US stocks end slightly lower
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Intersection of Louisiana Avenue and Hwy. 7 to be rebuilt in St. Louis Park
The busy intersection of Louisiana Avenue and Hwy. 7 will become an interchange with on- and off-ramps. The city hopes it will spur ...
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Stocks recover from an early swoon as investors reassess fears that Fed will slow stimulus
NEW YORK - Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower. U.S. markets plummeted immediately after the opening bell Thursday following a global slump prompted partly by an unexpected slowdown in Chinese manufacturing. Concern that the Federal Reserve might ease back on its economic stimulus program sooner than expected had also ...
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Merck ends development of Parkinsons disease drug preladenant based on study results
WHITEHOUSE STATION, N.J. - Merck & Co. says it is ending development of an experimental Parkinson's disease drug because the drug wasn't working. Merck says it reviewed initial data from three late-stage clinical trials and did not find evidence preladenant was more effective than a placebo. The company says it doesn't plan to file for marketing approval of the drug. It ...
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Inside View Chris Garcia of CGC Commercial
Garcia left a stable, eight-year gig as an industrial broker at Bloomington-based Cushman & Wakefield /NorthMarq, one of the Twin Cities' largest commercial real estate brokerage firms. Despite the unsettled economic climate, he was ready to strike out on his ...
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Long-term unemployed ready to work
All but one in the group was over 50 and had been unemployed 27 weeks or longer. They represent the part of unemployment that hasn't fallen with the rest of it -- long term joblessness. While the U.S. jobless rate has declined from a high of 10 percent in 2009 to 7.5 percent in the last four years, the percentage of people who are unemployed for six months or longer has hovered around 40 ...
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Microsofts Interactive Xbox One Debuts
Microsoft thinks it has the one. The company unveiled the Xbox One, an entertainment console that promises to be the one system households will need for games, television, movies and other entertainment. It will go on sale later this year, for an undisclosed price. For the past two years, Microsoft has led the gaming industry in console sales with the Xbox 360. But it's been eight ...
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Shakeup at Embroiled IRS Unit
Lois Lerner, the IRS official whose unit is at the center of the investigation into alleged Tea Party targeting, has been placed on administrative leave and a replacement has been named. Ken Corbin was named acting director of exempt organizations during Lerner's leave. He is currently deputy director of submission processing in the wage and investment division. Lerner invoked her Fifth ...
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Cramer 2 Laggards Worry Bernanke
Fed Chairman would never admit to it, but Cramer is convinced he's worried about these two laggards. And they lie at the very heart of the biggest issue facing the recovery in US economy."We still don't have any real growth ...
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House Votes for Market-Based Rates
The Republican-dominated House of Representatives on Thursday voted to switch federal student loan interest rates to a market-based system. Republicans said their plan is a long-term solution that will take politicians out of the business of setting student loan rates and using them as a bargaining chip. It is unclear, however, how much support the bill will get in the Democratic-led Senate, ...
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UPDATE 1-ITC says Microsoft did not violate Google patent
Thu May 23, 2013 6:37pm EDT WASHINGTON May 23 (Reuters) - Microsoft Corp won a round in a complex patent war on Thursday when the International Trade Commission said the company's popular Xbox entertainment system did not violate a patent owned by Google subsidiary Motorola Mobility. If the ITC had found that Microsoft infringed, it could have barred the Xbox from being imported into the ...
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Tesco rules out automatic big bonuses
Source: Tesco Tesco executives will not receive a bonus in the current financial year unless they can reverse a decline in profits at Britain's biggest supermarket operator, the company said in its annual report. The report rounds off a torrid year for the company, which announced a withdrawal from the United States and wrote down the value of its global operations by $3.5 billion due to ...
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Wet spring weak construction drag Titan Machinery to loss
TITN.O ) said it expects to report a quarterly loss as demand was hit by a wet spring weather in the United States that delayed corn plantations, sending its shares down 12 percent in extended ...
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Denner added as nominee to Vivus board by activist investor
Vivus shares rose as much as 11 percent after First Manhattan, which has nearly a 10 percent stake in Vivus, expanded its slate of proposed directors from six to nine, including ...
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Ally settlement may be a boon for ResCap bondholders
GKM.N ) $2.1 billion contribution to the debts of mortgage lender Residential Capital LLC, hedge funds like Paulson & Co may have obtained a better ...
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NYSE says AEP NextEra trades stand after crash at open
NEE.N ) in a crash that happened in the first minute of trading on Thursday will stand, the New York Stock Exchange said, following the latest in a flurry of unexplained sharp drops in the ...
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Earnings Results Pandora gets lift on strong sales outlook
SAN FRANCISCO (MarketWatch) -- Shares of Pandora Media Inc. surged in after-hours trading Thursday after the online-radio company reported better-than-expected sales for the first quarter, with big gains in revenue from mobile ...
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Hewlett-Packard shares soar 17 after earnings
Marathon Patent Group's Wholly Owned Subsidiary, Sampo IP, Files Patent Infringement Lawsuit Against Starbucks Corporation, E*Trade Financial, Hewlett-Packard Company, and ...
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Direct Access Shuts Down After Traders Implicated in Bribery Probe
New York-based broker-dealer Direct Access Partners has closed its doors, said a person familiar with the matter, after allegations surfaced earlier this month of a multimillion dollar Venezuelan bribery scheme involving two of its traders.Goldman Sachs Execution & Clearing, the firm's clearing agent, stopped accepting trades after that probe came to light on May 8, effectively shutting ...
Manila Spotlight
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Metro Manila takes first steps into the 'future'
The greater region of Manila, Metro Manila, will in a few years posses a futuristic community that its developers claim will redefine the way humans live, providing a glimpse of what is to come in terms of the integration of technology with lifestyles and sustainable environmental practices. The community will essentially be “future-ready” according to developers, but the details on how this will be achieved are murky.
Metro Manila is one of the most populated and developed regions of the country, with the capital city, Manila, responsible in large part for the regions progress compared to the rest of the Phillipines. It makes sense then that the Greenfield Development Corporation and Cisco have teamed up to develop the most futuristic residential community in the country ever. Read more
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