Latest Breaking Business News
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Will park bridge close this weekend
But indications are that the bridge will not close every weekend, starting this week, and perhaps not for months to come because of legal and implementation roadblocks in its ...
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Clearwire shareholder vote postponed
Clearwire will postpone a shareholder vote on whether to approve Sprint’s $2.2 billion takeover that was set for today, The Post has learned.Shares of Clearwire rose 1.9 percent yesterday to $3.26, above Sprint’s $2.97 a share, suggesting that shareholders expect a higher price. Clearwire declined comment. ...
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Google faces new pressure over tax claims
Google's data centre in Dublin: by booking all UK sales through Ireland, the internet company handed HMRC only about 10m in corporation tax over the period 2006-11. Photograph: Niall ...
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Hawaii stocks close mixed on a slightly lower day for Wall Street
Barnwell Industries stock gained 2.5 percent to lead Hawaii stocks in gains Monday as the broader markets closed lower. The Dow Jones Industrial Average lost 19.12 points, or 0.12 percent, to close at 15,335.28. The Nasdaq lost 2.53 points, or 0.07 percent, to close at 3,496.43. Gainers: Alexander & Baldwin Inc. (NYSE: ALEX) closed at $35.74, up 44 cents, or 1.25 percent; Barnwell Industries ...
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Wal-Mart ordered to provide more documents
A U.S. judge ordered attorneys for Wal-Mart Stores to turn over more information to shareholders seeking records on how the company responded to allegations of bribery involving its operations in ...
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U.S. court ruling favors Cubist in patent case versus Hospira
The ruling, in U.S. District Court in Delaware, is a positive development for Cubist in the ongoing case, which is scheduled to go to trial in February 2014, said Cubist spokeswoman Julie DiCarlo. Cubicin, an antibiotic injection used in hospitals to treat bacterial skin infections, is the company's primary revenue ...
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Raytheon to sign $2.1 billion arms sale to Oman U.S. officials
SAN FRANCISCO/NEW YORK - Yahoo Inc will buy blogging service Tumblr for $1.1 billion cash, giving the Internet pioneer a much-needed social media platform to reach a younger generation of users and breathe new life into its ailing brand. ...
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Gas Prices Spike Ahead of Holiday
May 20, 2013 7:43pm It’s almost Memorial Day and the price of driving for the first holiday weekend of the summer just got a bit higher. The weekly average price of a gallon of regular gas is $3.67, up 7 cents from a week earlier, according to the Department of Energy. Minnesota is ground zero for the high prices with a record high of $4.28, a rise of 44 cents in the just the last week, ...
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Citigroup names Jane as new head of mortgage biz
The number two in Chinese leadership offered New Delhi a "handshake across the Himalayas" and said the world's most populous nations could become a new engine for the global ...
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Caterpillar Milwaukee workers union to resume contract talks
CHICAGO | Mon May 20, 2013 7:48pm EDT CHICAGO May 20 (Reuters) - Caterpillar Inc said late on Monday that it would resume contract talks with the union representing about 800 Milwaukee workers who make specialized mining machinery. The company said the two sides would reconvene on Thursday, May 23, ending a two-week hiatus in discussions. The existing contract covering the workers, who ...
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Alcoa warns of scammer claiming to collect utility payments
Alcoa is warning residents about a scammer who is calling residents and asking to collect money on an account. The city says it does not call customers to collect utility payments, and if there are issues with any payments, it will either come via an automated message or through an online payment system. The city asks that anyone who receives a call demanding immediate payment should ...
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Microsoft to build Australian cloud computing centres
SYDNEY (Reuters) - Microsoft Corp is expanding its services for hosting and processing online data in Australia with the establishment of two new "cloud" computing data centres in the country.The world's biggest software company said on Tuesday it was expanding its Windows Azure business to include a major new region in Australia.Data centres, renting out technology resources such ...
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JPMorgans Dimon faces push to drop chairmans title
NEW YORK - A major shareholder vote this week has Wall Street abuzz over the power and future of Jamie Dimon, leader of the country's biggest bank. As chairman and chief executive of JPMorgan Chase & Co., Dimon burnished his reputation by steering the bank through the financial crisis virtually unscathed. Charismatic and articulate, Dimon emerged as Wall Street's most public face, ...
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Cool key to urban upsurge
Is a parade cool? It was one of the highlights of the Holiday Bowl in December but Gaslamp Quarter's rents are beyond new "cool" bars and restaurants and the coolness/rent rate figure into how an urban pocket turns itself ...
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Hispanic group asks FTC to probe Herbalife
A Hispanic consumer group has asked the Federal Trade Commission to investigate the Herbalife, citing concerns that the controversial company is targeting minorities. "It is our understanding that the company’s marketing materials promise richness for a few hours of work from home," wrote Hispanic Federation President Jose Calderon in a March 17 letter to FTC Chairwoman Edith ...
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Carnival Corp. lowers 2013 earnings forecast
The news just keeps getting worse for Carnival Corp. Late Monday afternoon, the Miami-based cruise giant lowered its earnings forecast for the year, citing the low ticket prices that have been needed to drive cruise demand while the company had endured months of negative publicity. The 24-ship Carnival Cruise Lines and its parent company, Carnival Corp., have taken a beating since mid-February, ...
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Former Apple CEO on Offshore Cash
Some explosive words were exchanged on Capitol Hill with Sen. Carl Levin, (D-MI) accusing Apple of using tax havens in Ireland to avoid paying U.S. taxes. John Scully, former Apple CEO, shares his view on the ...
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Dimon Exit Could Be ‘All Downside’ Pro
Ahead of a vote on separating JPMorgan's CEO and chairman roles that could push out Jamie Dimon, Brad Hintz of Sanford Bernstein says that a departure would have no benefit for the company's stock ...
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Stocks Dollar Move Up Is a Good Thing
The stock market and the U.S. dollar have are moving higher in tandem again, which analysts say could be a positive for U.S.-centric companies. "[The rising dollar] is one of the reasons this market is more a U.S.-focused one," said Quincy Krosby, market strategist at Prudential Financial. "Economic data in the U.S. have gained traction against other economies and with the ...
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JPMorgan under pressure gives polling information to investors
JPM.N ), under pressure from the New York Attorney General's office, has agreed to give investors information about upcoming ballot votes, after the company that collects votes on the measures stopped giving out polling information last ...
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Prosecutors subpoena of SACs Cohen puzzles defense lawyers
Hedge fund manager Steven A. Cohen, founder and chairman of SAC Capital Advisors, responds to a question during a one-on-one interview session at the SkyBridge Alternatives (SALT) Conference in Las Vegas, Nevada May 11, ...
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Rockwood pigments businesses attract private equity bids sources
LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change ...
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Gold and Silver Post Huge Turnaround
NYSEARCA:SLV ) futures for July gained 23 cents to finish at $22.58.Although the price of gold futures briefly touched $1,336 per ounce, they rebounded sharply to avoid closing lower for the eighth consecutive session. Silver futures hit as low as $20.25 per ounce, which caused some market commentators to declare the end for silver, but the precious metal also made a strong ...
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Which Market is Correct
UUP ) should be declining (as it did during the equity boom years of 1985-2007). It is actually up in value since 2008.Commodity prices should also be up, but they have been declining rather sharply since 2011.This is not your typical confirming market behavior.For five years bonds, the dollar, and stocks have all risen in price when bonds and the dollar should have done the opposite of ...
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Lawmakers say Apple dodged billions in taxes
AAPL ) of using what it called a "complex web of offshore entities" to dodge billions of dollars in U.S. income taxes.The technology giant, the world's second-largest company by market value, has used a range of offshore structures, transactions and other arrangements to shield its earnings from taxes, said the U.S. Senate permanent subcommittee on investigations in a report. ...
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