Latest Breaking Business News
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Truck strike may have caused Washington state bridge collapse officials says
OLYMPIA, Washington (Reuters) - A colliding truck may have triggered the collapse on Thursday of part of a four-lane freeway bridge that sent vehicles and drivers tumbling into a frigid river in Washington state, officials ...
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Bank of Englands Fisher says does not want U.S.-style QE pledge
CARDIFF (Reuters) - A Bank of England policymaker said on Friday he favored small additional amounts of bond purchases over time, but not a hard-to-manage commitment to longer-term stimulus like that of the U.S. Federal ...
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Handelsbanken Completes Heartwood Acquisition in UK
Swedish bank Svenska Handelsbanken AB (SHB-B.SK) Friday said it is completing its acquisition of British wealth management firm Heartwood Wealth Group Ltd. as it has now received permission from the British financial supervisory authority.MAIN FACTS:-Handelsbanken announced the agreement to acquire Heartwood on February 6.-Heartwood has around 90 employees and conducts discretionary management ...
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UK Firms Consumers Pay Down Debt Again In April
U.K. businesses and home owners continued to pay down debt in April, as confidence remains subdued despite a range of government policies to boost lending, a survey showed Friday.Data from the British Bankers Association showed non-financial U.K. businesses made a net repayment of 2.0 billion pounds ($3 billion) in April. In March they repaid GBP0.8 billion.Collectively, households also repaid ...
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European stock markets recover slightly at open
LONDON (AFP) - European stock markets rebounded modestly at the start of trading on Friday following sharp losses suffered the previous day.London's benchmark FTSE 100 index rose 0.23 percent to 6,712.15 points, Frankfurt's DAX 30 gained 0.46 percent to 8,390.16 points and in Paris the CAC 40 climbed 0.36 percent to 3,981.27.European stock markets had slumped on Thursday, with most ...
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Denny Hamlin takes Coca-Cola 600 pole with record lap
(AP Photo/Mike McCarn) Denny Hamlin climbs from his car after qualifying for Sunday's NASCAR Sprint Cup series Coca-Cola 600 auto race at Charlotte Motor Speedway in Concord, N.C., Thursday, May 23, 2013. Hamlin won the pole position for the ...
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Global stock markets fall after 7 percent collapse in Japan’s Nikkei index
Stock markets posted significant losses worldwide, led by a one-day 7.3 percent drop in Japan's Nikkei stock index, amid signs of a growing global slump and demands for increasing attacks on the working class in Japan.The Nikkei fell 1,143 points to 14,483.98, after which major indices across Europe and Asia all fell two percent or more. The Sydney stock market fell two percent to 5062, and ...
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Caterpillar CEO defends wage-cutting
expressing the logic behind the merciless drive for ever higher profits by the ruling class both in the United States and internationally. Since 2010, when he became CEO, Oberhelman has overseen a ruthless campaign to reduce workers' wages and dramatically increase corporate profits. This has included the lockout of workers in London, Ontario and the shutdown of their plant after because ...
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Market turbulence poses first serious test for Abenomics
By William MallardTOKYO (Reuters) - This week's turbulence in Tokyo markets exposes a key risk of Prime Minister Shinzo Abe's all-in strategy to revive Japan's economy - if investor confidence falters, the government and the Bank of Japan may be left with few options to turn the tide.On Friday, the Nikkei share average had another tumultuous session, traversing a 7.1 percent range ...
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Demand is soaring for Apple’s first product
The sky-high prices suggest irrational exuberance. But technology historians say there is a rational appeal to possessing an Apple-1. "It is Apple’s creation story, the physical artifact that traces this incredible success to its origins," said Spicer, a senior curator at the Computer History Museum in Mountain View, ...
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Minnesota to get stricter law on home foreclosures
Backers hope the state's new Homeowners' Bill of Rights will reduce foreclosures in Minnesota, which, more than six years into the crisis, have been declining but remain stubbornly ...
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Delta sees SP 500 in reach as rebound boosts credit ratings
Richard Anderson, CEO of Delta Air Lines, answers questions at a news conference to discuss the planned merger with Northwest Airlines on Tuesday, April 15, 2008 in New ...
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Fed sees fierce competition among banks
Minnesota's community bankers are reporting "exceptionally fierce" competition for commercial loans, according to the local branch of the Federal ...
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Twin Cities market for office buildings picks up
The market for signature office buildings in the Twin Cities has flourished in recent weeks, with large companies pursuing deals to sell, expand or ...
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Stricter U.S. labeling rule on meat imports may cost $192 million
WASHINGTON - The United States tightened country-of-origin labeling provisions to specify where animals are born, raised and slaughtered after the World Trade Organization backed complaints from Canada and Mexico that challenged the policy. The rule also bans the mingling of meat cuts of commodities from different nations, according to U.S. Department of Agriculture regulation to be published ...
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Walmart rolls out initiative to hire veterans
Walmart veteran associates Allan Armstrong and Pablo Ceniceros pose with Commanding Officer Scott Adams, Naval Base Point Loma at a community-wide event held on Saturday, May 18 to honor veterans and those currently ...
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It bytes Google rivals demand FTC ad probe
Google is back on the radar of federal regulators.The Federal Trade Commission has opened a preliminary probe after, sources said, rivals complained about its display ad business.The FTC, which earlier this year cleared Google of any wrongdoing in its search business, is now being asked to look at how the search giant sells display ads, sources familiar with the inquiry said.The sources stressed ...
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Icahn’s bank is in the Dell
Carl Icahn has hired investment bank Jefferies to help fund a planned recapitalization of computer giant Dell Inc.The billionaire financier (pictured) is said to have reached out to banks as part of an effort to raise as much as $5 billion to fund a restructuring of the Round Rock, Texas-based PC maker founded by 48-year old Michael Dell in his college dorm. Icahn’s proposal would serve as ...
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Profit fills Gap in Q1
Gap Inc. reported a higher first-quarter profit on Thursday, helped by a rise in same-store sales at its Old Navy and namesake chains, and growth in Asia.Gap has staged a comeback in the last few years, offering hipper fashions that have found favor again with shoppers that in the interim had flocked to Zara parent Inditex and homegrown competitors such as Forever21.The company, which also owns ...
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Mojo’s back for Ackman PG chief departs
Bill Ackman still has clout.Procter & Gamble - one of Ackman’s top investments - said last night that CEO Bob McDonald would leave the company this summer, to be replaced by former CEO A.G. Lafley.Just two weeks ago, Ackman said at the Ira Sohn investment conference that if McDonald couldn’t fix the company soon, he would have to go.Still battered by his debacle at JCPenney and ...
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Targeting Visa MC
Target, Macy’s and 15 other retailers sued Visa and MasterCard over credit- and debit-card fees after exiting a proposed $7.25 billion settlement of a similar case, alleging it gave the firms too much leeway to raise future rates. The card firms restrained competition for interchange fees by setting default rates and imposing almost identical rules for accepting cards, the retailers said ...
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Galaxy star-ship is flying
Samsung says it is shipping Galaxy phones at a record clip.The latest Galaxy S4 has been in stores for a month, and Samsung said it’s moved 10 million of the devices. It first started selling at AT&T and T-Mobile last month, but hit Verizon stores yesterday.Verizon representatives reported its stores had lines for Samsung’s flagship phone. The HTC One, another recent mobile ...
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3 SAC execs subpoenaed
Three senior executives at Steven Cohen’s SAC Capital Advisors have received subpoenas as part of the US multi-year probe into insider trading at the hedge fund. Subpoenas were sent to Tom Conheeney, president of SAC; Steve Kessler, head of compliance; and Phillipp Villhauer, head trader, a source ...
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Tweet this Ads aimed at users
Twitter plans to release a tool that makes it easier for advertisers to find their customers who also use the social-messaging service, according to three people familiar with the matter.The feature will let marketers use e-mail addresses to identify and target Twitter users who match up with a company’s own customer lists, said the people, who asked not to be identified because the plan ...
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Pandora hits $128M high note
Pandora Media said first-quarter revenue grew 58 percent, to $128.5 million, thanks to mobile advertising and new subscribers to the online streaming music service.Pandora also said mobile revenue nearly doubled, to $83.9 million."The mobile cap they put in place appears to be working - it’s driving lower content costs and additional subscribers," said Aaron Kessler, an analyst ...
Buenos Aires Now
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Car manufacturing looking up for Buenos Aires
The financial crisis has been hard on Buenos Aires, but recent announcements by Ford and VW seem to herald a change in the city’s fortunes.
The financial crisis has hit cities and countries hard around the world, Buenos Aires and Argentina included. Unemployment is up by record amounts, the government, like governments across the globe, is struggling to contain a budget deficit, and international trade, on which the country so heavily relies, is down by double-digit amounts. Read more
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