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washingtonpost.com - Business
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Consumer complaints rise as protection resources dwindle
Posted: August 1st, 2010, 12:00am EDT by MICHELLE SINGLETARY
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State and local consumer-protection agencies across the country should pool their limited resources and start an advertising campaign called "Gotcha."
Consumer Information - Home - Advocacy and Protection - United States - Governmental Help
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CEO's booze-fueled blunder puts new hire in tough spot
Posted: August 1st, 2010, 12:00am EDT by Post
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Adapted from a recent online discussion. Harassed (?) by CEO: I just started a job that I love. A few weeks ago, I was at a conference, where I was approached by our CEO as I was walking back to my hotel room late at night. He was extremely drunk; I was not. The short version is that he asked me to...
England - Business - Business and Economy - Alcoholic beverage - United States
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Two economists say in new paper that TARP worked
Posted: August 1st, 2010, 12:00am EDT by Ezra Klein
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TARP is horribly unpopular. The stimulus is pretty unpopular. But does that mean they were bad policies? Not according to a new paper by Mark Zandi, Moody's chief economist and a former adviser to both the McCain and Obama campaigns, and Alan Blinder, a Princeton economist who has served as vice...
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Insurers hold billions in federal death benefits in unprotected accounts
Posted: August 1st, 2010, 12:00am EDT by David Evans
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The package arrived at Cindy Lohman's home in Great Mills, just two weeks after she learned that her son, Ryan P. Baumann, a 24-year-old Army sergeant, had been killed by a bomb in Afghanistan. It was a thick, 9-by-12-inch envelope from Prudential Financial, which handles life insurance for the...
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Small businesses: Measuring their power and their problems
Posted: August 1st, 2010, 12:00am EDT by Edmund L. Andrews
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He may be locked in combat with Wall Street and the Business Roundtable, but President Obama spoke nostalgically last week about the virtues of small business.
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Featured Advertiser
Posted: August 1st, 2010, 12:00am EDT
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Umbrella-liability policy can protect finances from costly lawsuits
Posted: August 1st, 2010, 12:00am EDT by Kimberly Lankford
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Q We have homeowners and auto insurance with $300,000 in liability coverage, but someone suggested that we get a $1 million personal-liability umbrella policy. Why would we need this much coverage ?
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Interview with Fidelity Low-Priced Stock Fund manager Jeff Tillinghast
Posted: August 1st, 2010, 12:00am EDT by Manuel Schiffres
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Joel Tillinghast is arguably the least-celebrated superstar in the fund business. Fidelity Low-Priced Stock, which he has run since December 1989, is the third-best-performing fund over the past 20 years (with an annualized return through May 31 of 14 percent). The unusual fund, which mainly buys...
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Everyday lithium batteries at center of debate about cargo handling
Posted: July 31st, 2010, 10:44pm EDT by Jia Lynn Yang
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The lithium-ion battery quietly fuels modern life. It powers our iPhones, iPads, BlackBerrys and laptops. It's in the next round of electric cars coming to market this year.
Yahoo! News: Business
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Debris in relief well sets back work on gusher (AP)
Posted: July 31st, 2010, 1:02pm EDT
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AP - Tropical Storm Bonnie left crews working to plug the Gulf oil gusher a little memento that is expected to push their work back about a day.
NYT > Business
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Optimism That Cement Will Shut Down Gulf Oil Well
Posted: July 31st, 2010, 12:41pm EDT by By CLIFFORD KRAUSS
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An effort known as a static kill is part of a two-pronged strategy to kill the well by cementing it shut twice, from above with the static kill and then from below, using a relief well.
Yahoo! News: Business
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Movie tax cuts 'help struggling California economy' (AFP)
Posted: July 31st, 2010, 11:20am EDT
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AFP - A year-old program granting movie studios tax breaks for filming in California has saved jobs and should yield two billion dollars in direct spending, Governor Arnold Schwarzenegger said.
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BP may sell German gas stations for $2.6 billion: report (Reuters)
Posted: July 31st, 2010, 10:35am EDT
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Reuters - BP Plc is seeking to sell its German petrol station chain Aral for around 2 billion euros ($2.6 billion), German magazine Wirtschaftswoche reported on Saturday, citing investment bankers familiar with BP's plans. -
ICICI Bank profit up 17 percent on better loans (AP)
Posted: July 31st, 2010, 7:18am EDT
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AP - ICICI Bank, India's largest private sector bank, said quarterly profit rose 17 percent as it cut costs and eliminated bad loans amid revived credit demand in India's growing economy.
NYT > Business
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U.S. Plans Trade Complaint Against Guatemala
Posted: July 31st, 2010, 3:13am EDT by By SEWELL CHAN
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The complaint, which will accuse Guatemala of labor law violations, comes as the administration is trying to revive its trade agenda.
Yahoo! News: Business
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Cleanup of Mich. river oil spill will take months (AP)
Posted: July 31st, 2010, 3:01am EDT
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AP - Officials investigating the cause of a huge oil spill along a major river in southern Michigan say it will take months to clean up the mess, and damage to wetlands and wildlife may last considerably longer.
NYT > Business
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Nuclear Woes Hurt Bottom Line at EDF
Posted: July 31st, 2010, 2:50am EDT by By MATTHEW SALTMARSH
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The French energy giant cited costs related to its U.S. nuclear ventures and the construction of its latest generation nuclear power plant in France, which will be delayed until 2014.
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Stem Cell Trial Wins Approval of F.D.A.
Posted: July 31st, 2010, 1:30am EDT by By ANDREW POLLACK
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A trial could offer the first glimpse of a technology that may hold vast medical promise but also is embroiled in controversy.
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Oil Spill Officials Talk of Shift From Emergency Work
Posted: July 31st, 2010, 1:20am EDT by By CAMPBELL ROBERTSON and CLIFFORD KRAUSS
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Officials are focusing more on long-term recovery now that some of the urgent demands of the spill are diminishing.
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With Recovery Slowing, the Jobs Outlook Fades
Posted: July 31st, 2010, 1:20am EDT by By CATHERINE RAMPELL
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With growth at an annual rate of 2.4 percent in the second quarter and the stimulus fading, an analyst says the rest of the year will feel like a recession.
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Patient Money: For Most, Implants Beat Dentures, but at a Price
Posted: July 31st, 2010, 1:10am EDT by By LESLEY ALDERMAN
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Prosthetic teeth attached to the jaw with titanium screws are preferred for replacing lost teeth, but they’re expensive, and insurance coverage is usually minimal.
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Shortcuts: The Benefits of Volunteerism, if the Service Is Real
Posted: July 31st, 2010, 12:50am EDT by By ALINA TUGEND
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Even community service done simply to build a résumé for college can be a good thing, but there needs to be a connection between the work and the overall issue.
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Chevron’s Profit Triples as Demand Grows
Posted: July 31st, 2010, 12:50am EDT by By REUTERS
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The giant oil company’s revenue grew 32 percent over the same period a year ago and it raised it’s forecast for growth as the global economy emerges from recession.
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ABC Names Paul Lee President of Entertainment Group
Posted: July 31st, 2010, 12:30am EDT
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Mr. Lee had been president of ABC’s Family Channel, a cable network that experienced rapid growth recently.
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Off the Charts: The Growing Resilience of Plastic
Posted: July 31st, 2010, 12:30am EDT by By FLOYD NORRIS
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Consumers are defaulting on credit cards at a slowing rate, and that trend is expected to continue even if the economy suffers a double-dip recession.
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Senator Seeks Data on Complaints About Artificial Joints
Posted: July 31st, 2010, 12:29am EDT by By BARRY MEIER
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Senator Charles E. Grassley requested data from Zimmer Holdings, a maker of artificial hips and knees, on how it responded to complaints from surgeons.
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Old Debts Never Die; They Are Sold to Collectors
Posted: July 31st, 2010, 12:26am EDT by By ANDREW MARTIN
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Collecting old consumer debts has become a labyrinthine industry involving buyers of secondhand debt, muddled statutes of limitation, lawsuits and, sometimes, abusive tactics.
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Your Money: Nervous About Social Security? Better Prepare Now
Posted: July 31st, 2010, 12:20am EDT by By TARA SIEGEL BERNARD
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If the government has to change Social Security, people may need to put aside a lot more money to make up for any reduction in benefits.
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Billionaire Brothers Long Suspected of Tax Evasion
Posted: July 31st, 2010, 12:20am EDT by By EDWARD WYATT
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Sam and Charles Wyly had been investigated by the I.R.S. and Congress years before the S.E.C. filed its suit.
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Dogged by a Slowdown, Obama Lauds Car Revival
Posted: July 31st, 2010, 12:20am EDT by By JACKIE CALMES
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The president emphasized that G.M. and Chrysler had returned to profitability and added jobs since the government came to their rescue over a year ago.
washingtonpost.com - Business
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Maxine Waters will go to trial rather than settling potential ethics charges
Posted: July 31st, 2010, 12:00am EDT by Ben Pershing and Paul Kane
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Rep. Maxine Waters (D-Calif.) has decided against settling potential House ethics charges for her role in helping to steer federal funds to a bank, choosing instead to proceed to a trial, a source familiar with the process said Friday night.
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Business Digest: Delta to pay $38 million settlement
Posted: July 31st, 2010, 12:00am EDT by Post
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Delta Air Lines will pay a $38 million fine to settle criminal accusations that the cargo unit of Northwest Airlines conspired to fix prices, the Justice Department said Friday.
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Wyly brothers built an empire side-by-side
Posted: July 31st, 2010, 12:00am EDT by Zachary A. Goldfarb and Philip Rucker
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Born during the Depression in a northeast Louisiana plantation town of 3,000, Charles Wyly and his younger brother Sam have been inseparable since childhood: numbers 3 and 13 on the state-championship high school football team , business partners who turned ideas into billion-dollar companies,...
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Coventry profit tumbles on litigation charge
Posted: July 31st, 2010, 12:00am EDT by Post
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Health insurer Coventry Health Care said Friday that its profit plunged in the second quarter after it set aside $278 million to cover the costs of a lawsuit against a Louisiana subsidiary.
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Study: Working mothers not necessarily harmful to child development
Posted: July 31st, 2010, 12:00am EDT by Daniel de Vise
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A new study finds that babies raised by working mothers don't necessarily suffer cognitive setbacks, an encouraging finding that follows a raft of previous reports suggesting that women with infants were wiser to stay home.
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Oil spill highlights conflict-of-interest issue within investigation agency
Posted: July 31st, 2010, 12:00am EDT by Carol D. Leonnig
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David Dykes -- the federal regulator now leading his agency's investigation of the BP oil spill -- has spent five years as a senior investigator and office chief enforcing oil industry safety in the Gulf of Mexico. For much of that time, his brother was a top executive at an energy company with...
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Threats of drug cartel attacks shut U.S. Consulate in Juarez, Mexico
Posted: July 31st, 2010, 12:00am EDT by Post
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MEXICO Threats of drug cartel attacks against authorities have prompted the United States to shut down its large consulate in Juarez, providing no indication when the building will reopen.
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GDP report: Economic growth slows with 2.4 percent rate in second quarter
Posted: July 31st, 2010, 12:00am EDT by Neil Irwin and Sonja Ryst
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The recovery is fading, and a troubling new pattern is setting in: economic growth that is too slow to put Americans back to work.
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The changes on FHA loans and how they will affect borrowers and sellers
Posted: July 31st, 2010, 12:00am EDT by Post
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Upfront insurance premium What is it? A fee the Federal Housing Administration collects from borrowers that can be paid in cash at the closing table or rolled into the loan.
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Featured Advertiser
Posted: July 31st, 2010, 12:00am EDT
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The changes on FHA loans and how they will affect borrowers and sellers
Posted: July 31st, 2010, 12:00am EDT by Post
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Seller concessions What are they? Contributions that sellers kick in to help defray a buyer's costs. They can include closing costs, inspections, appraisals and free upgrades. What's changing? The FHA proposes slashing allowable seller concessions in half, capping them at 3 percent of the home pr...
NYT > Business
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Wealth Matters: Partnerships May Aid Your Estate, but the I.R.S. Is Watching
Posted: July 30th, 2010, 11:32pm EDT by By PAUL SULLIVAN
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Family limited partnerships can help keep family interests in sync after death, but the government wants to make sure they operate as true businesses, not tax dodges.
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European Bank Stress Tests Worked: Sort Of
Posted: July 30th, 2010, 10:51pm EDT by By JACK EWING
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Market data is starting to provide an indication of whether the stress tests on the largest European banks had the desired effect on confidence.
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A Tangled Web for the Wyly Brothers
Posted: July 30th, 2010, 7:37pm EDT by By PETER J. HENNING
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White Collar Watch examines the issues and problems that the Securities and Exchange Commission faces in its case against the billionaire Wyly brothers, who are accused of securities fraud and insider trading.
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Lessons from End of the Charles River Deal
Posted: July 30th, 2010, 7:34pm EDT by By STEVEN M. DAVIDOFF
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The Deal Professor examines the termination of Charles River Laboratories' deal for WuXi PharmaTech and the lessons it provides for buyers in this post-crisis market for mergers and acquisitions.
Yahoo! News: Business
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Merck's 2Q net drops on higher costs, charges (AP)
Posted: July 30th, 2010, 7:14pm EDT
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AP - Drugmaker Merck & Co. on Friday reported a 52 percent drop in second-quarter net income, weighed down by big restructuring charges from buying Schering-Plough Corp., generic competition and other factors.
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Jobs data, earnings latest test for stocks (Reuters)
Posted: July 30th, 2010, 5:46pm EDT
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Reuters - U.S. stocks are unlikely to break above a key technical level next week unless monthly jobs data and consumer company results paint a more promising picture of the recovery. -
Obama: Detroit auto bailout was unpopular, but it worked (The Christian Science Monitor)
Posted: July 30th, 2010, 5:16pm EDT
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The Christian Science Monitor - President Obama used a visit to Michigan Friday to argue the case that despite its unpopularity, his 2009 bailout of the Detroit auto industry has worked. -
Obama hails news economy growing, wants more (Reuters)
Posted: July 30th, 2010, 4:50pm EDT
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Reuters - President Barack Obama said on Friday he welcomed news that the U.S. economy grew by 2.4 percent in the second quarter, but said more work was needed to increase that growth rate and generate jobs.
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Dollar sinks to 8-month low vs yen as growth slows (AP)
Posted: July 30th, 2010, 4:34pm EDT
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AP - Weakening U.S. economic growth and worried comments from Federal Reserve officials drove the dollar to an 8-month low Friday against the Japanese yen. -
IMF lowers Spain growth forecast, warns of 'fragile' rebound (AFP)
Posted: July 30th, 2010, 2:54pm EDT
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AFP - The IMF on Friday lowered its 2011 growth forecast for the Spanish economy to 0.6 percent from the 0.9 percent it foresaw in April and warned the recovery "is likely to be weak and fragile."
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Greece turns to military to restore fuel supplies (AP)
Posted: July 30th, 2010, 2:36pm EDT
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AP - Greece said Friday it will use military trucks, navy vessels and commandeered fuel tankers to restore gasoline supplies cut by a strike that has hurt the country's industry and vital tourism trade at the height of vacation season.
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Cuomo widens insurer probe with 6 more subpoenas (Reuters)
Posted: July 30th, 2010, 2:32pm EDT
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Reuters - New York Attorney General Andrew Cuomo has subpoenaed six more insurers as the state widens a probe into whether life insurance companies have defrauded families of deceased members of the military.
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Glimcher offering raises $96M after costs (AP)
Posted: July 30th, 2010, 1:36pm EDT
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AP - Real estate investment trust Glimcher Realty Trust said Friday a recently completed public offering of 16.1 million common shares generated about $96 million, after commissions, discounts and expenses. -
Goldman employees still enamored with firm and CEO (Reuters)
Posted: July 30th, 2010, 1:30pm EDT
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Reuters - Goldman Sachs Group Inc is the bank many Americans love to hate, but one group just plain loves it: its employees. -
Reverse Mortgages Aren't Catching On (U.S. News & World Report)
Posted: July 30th, 2010, 11:51am EDT
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U.S. News & World Report - The reverse mortgage industry, hammered for high fees and high pressure sales tactics, has steadily improved its procedures and its image. Loan fees and interest rates have been lowered, consumer disclosure has improved, and the federal government's insured reverse mortgage program has provided stability and credibility to the industry. A-list lenders have expanded their presence in the market; Wells Fargo and Bank America are the nation's top two reverse mortgage lenders. -
Arch Coal 2Q profit surges on global sales (AP)
Posted: July 30th, 2010, 8:32am EDT
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AP - Arch Coal says it reversed losses from a year ago during the second quarter thanks to strong global markets and a nearly 40 percent jump in sales. -
US gas stations: Stay BP or change name to Amoco? (AP)
Posted: July 30th, 2010, 8:12am EDT
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AP - BP gas station owners across the country are divided over whether the oil giant stained by its handling of the Gulf spill should rebrand U.S. outlets as Amoco or another name as part of its effort to repair the company's badly damaged reputation.
NYT > Business
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European Shares Fall Ahead of U.S. Data on Growth
Posted: July 30th, 2010, 8:11am EDT by By THE ASSOCIATED PRESS
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Investors were particularly fretful about the G.D.P. report because it comes at the end of a run of worse than expected economic data and a warning from the Fed.
Yahoo! News: Business
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Futures edges down ahead of Q2 growth data (Reuters)
Posted: July 30th, 2010, 8:06am EDT
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Reuters - U.S. stocks closed little changed on Friday, but Wall Street wrapped up its best month in a year after the earnings season rounded the final turn with a group of strong results that offset the impact of poor economic data.
NYT > Business
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Are We a Nation of Property Owners?
Posted: July 30th, 2010, 8:01am EDT by By UWE E. REINHARDT
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Whatever people's political beliefs about the role of government, they are likely to continue to rely on the government for retirement benefits and health care, an economist writes.
Yahoo! News: Business
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Aon Q2 profit tops Wall Street view (Reuters)
Posted: July 30th, 2010, 7:59am EDT
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Reuters - Aon Corp , the world's largest insurance brokerage, reported a larger-than-expected quarterly profit as contributions from recent acquisitions helped offset decline in commissions. -
Honda posts record Q1 and Renault returns to H1 profit (Reuters)
Posted: July 30th, 2010, 7:36am EDT
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Reuters - Honda Motor Co (7267.T) raised its full-year forecasts after posting a record quarterly net profit on Friday, while brisk sales returned France's Renault to profit in the first half.
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Merck profit beats Wall Street view (Reuters)
Posted: July 30th, 2010, 7:34am EDT
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Reuters - Merck & Co reported higher-than-expected second-quarter earnings on Friday, helped by strong sales of its treatments for diabetes, arthritis and
HIV.
washingtonpost.com - Business
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Obama to sell auto bailout good news in Michigan
Posted: July 30th, 2010, 7:18am EDT by CHARLES BABINGTON
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DETROIT -- The government's bailout of the American auto industry last year sparked political hand-wringing about the end of capitalism and allegations that President Obama aspired to be CEO of what critics dubbed "Government Motors."
NYT > Business
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The Owner Made a Promise: No Layoffs
Posted: July 30th, 2010, 7:00am EDT by By ADRIANA GARDELLA
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Turning the recession into a growth opportunity.
Yahoo! News: Business
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Kerry says he mishandled furor over yacht taxes (AP)
Posted: July 30th, 2010, 6:15am EDT
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AP - Sen. John Kerry said he always intended to pay taxes in Massachusetts on his $7 million yacht but conceded he mishandled the public furor over his decision to dock the vessel in tax-free Rhode Island.
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China overtakes Japan as No.2 economy: FX chief (Reuters)
Posted: July 30th, 2010, 5:41am EDT
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Reuters - China has overtaken Japan to become the world's second-largest economy, the fruit of three decades of rapid growth that has lifted hundreds of millions of people out of poverty. -
S&P raises Ukraine ratings after IMF deal (AFP)
Posted: July 30th, 2010, 3:29am EDT
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AFP - Standard and Poor's on Friday said it was raising its assessment of Ukraine's sovereign debt after the IMF agreed a 15 billion dollar package to help its economy emerge from the economic crisis.
NYT > Business
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Added to the Recall List: Millions of Frozen Mice
Posted: July 30th, 2010, 2:50am EDT by By WILLIAM NEUMAN
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Salmonella outbreaks that sickened more than 400 in the U.S. and Britain have been traced to mice sold as food for exotic pets.
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S.E.C. Charges Billionaire Dallas Brothers With Securities Fraud
Posted: July 30th, 2010, 2:50am EDT by By EDWARD WYATT
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The two Dallas billionaires, large donors to conservative causes, were charged with an extensive securities fraud.
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Small-Business Bill Falters on Senate Partisanship
Posted: July 30th, 2010, 2:50am EDT by By DAVID M. HERSZENHORN
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The procedural blockade underscored how determined Republicans are to deny Democrats any further victories.
Yahoo! News: Business
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Asia stocks slip on U.S. worries (Reuters)
Posted: July 30th, 2010, 2:49am EDT
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Reuters - Asian stocks sagged on Friday as worries U.S. growth data may surprise on the downside and downbeat comments from a Federal Reserve official gave investors reason to book profits from a steady rally this month.
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EADS Q2 net profit decline 61 percent (AP)
Posted: July 30th, 2010, 2:45am EDT
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AP - EADS NV, the parent company of plane-maker Airbus, on Friday raised its outlook for 2010 — despite a 61 percent drop in second quarter earnings — as its commercial aviation business takes off.
NYT > Business
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Disney Sells Miramax for $660 Million
Posted: July 30th, 2010, 2:15am EDT by By BROOKS BARNES and MICHAEL CIEPLY
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The deal ends a laborious bidding process that saw the label’s co-founders, Harvey and Bob Weinstein, fall short in their attempt to regain control.
Yahoo! News: Business
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Disney sells Miramax for $600 million to investor group (Reuters)
Posted: July 30th, 2010, 2:13am EDT
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Reuters - Walt Disney Co said on Friday it had sold film studio Miramax for about $660 million to an investor group, ending months of talks between the media group and various bidders.
NYT > Business
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Silicon Valley Venture Capitalists Are Feeling Glum
Posted: July 30th, 2010, 1:56am EDT by By CYRUS SANATI
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Confidence among venture capitalists in Silicon Valley weakened in the second quarter, according to a new industry report, as concerns over financing, the economy and new regulations added to an already tough working environment.
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Avis Goes to War for Dollar Thrifty
Posted: July 30th, 2010, 1:49am EDT by By STEVEN M. DAVIDOFF
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The Deal Professor examines Avis's opening salvo in its takeover war with Hertz for Dollar Thrifty.
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Asia Stocks Fall as Data Takes Shine Off Earnings
Posted: July 30th, 2010, 1:46am EDT by By THE ASSOCIATED PRESS
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Asian markets fell, overlooking strong earnings from some of the region’s biggest companies as Japanese shares tumbled on dour economic figures and a strong yen.
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Advertising: Barnes & Noble Plans Big Push for Nook E-Reader
Posted: July 30th, 2010, 1:30am EDT by By JULIE BOSMAN
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In-house boutiques are Barnes & Noble’s latest front in the battle with Amazon over their competing e-reader devices.
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Cloned Livestock Gain a Foothold in Europe
Posted: July 30th, 2010, 1:30am EDT by By JAMES KANTER
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The Continent has generally resisted genetically modified food, but small amounts of meat and dairy from cloned animals are already being consumed.
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Justice Joins Suit Accusing Oracle of Fraud
Posted: July 30th, 2010, 1:30am EDT by By ASHLEE VANCE
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In a civil suit, the department said Oracle failed its contractual duty to give the government the same discounts it gave commercial customers.
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High & Low Finance: In Basel, an Eternal Work in Progress
Posted: July 30th, 2010, 1:30am EDT by By FLOYD NORRIS
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The Basel committee that was supposed to toughen banking regulations seems caught in a battle to do so.
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Motorola’s Profit Beats Estimates
Posted: July 30th, 2010, 1:20am EDT by By BLOOMBERG NEWS
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Strong demand for a line of smartphones using Google’s Android operating system helped sales.
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Production Growth Lifts Profits at Exxon and Shell
Posted: July 30th, 2010, 1:10am EDT by By REUTERS
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Strong results raised hopes that the oil companies could offer investors meaningful growth again.
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Rich I.P.O. Brings Controversy to Microlender, SKS Microfinance
Posted: July 30th, 2010, 1:10am EDT by By STEPHANIE STROM and VIKAS BAJAJ
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The founder and early investors in the microlender will reap millions from the share deal, but it was unclear how donors would benefit.
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Obama to Promote Auto Bailout as a Success
Posted: July 30th, 2010, 1:10am EDT by By DAVID E. SANGER and JACKIE CALMES
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The White House has decided to argue more forcefully that investing in the auto industry helped keep workers employed and laid the groundwork for a rebound.
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New Rules Move to Restrict Debt Settlement Industry
Posted: July 30th, 2010, 1:10am EDT by By EDWARD WYATT
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Companies that promise to settle debt problems for consumers will no longer be allowed to charge an upfront fee.
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DeGeneres Steps Down From ‘American Idol’
Posted: July 30th, 2010, 1:08am EDT by By BRIAN STELTER
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Fox said the talk show host was leaving immediately, despite having four years remaining on her contract.
Yahoo! News: Business
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House to take up offshore drilling reform bill (Reuters)
Posted: July 30th, 2010, 1:02am EDT
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Reuters - Three months after the catastrophic oil rig explosion that sent millions of gallons of crude spewing into the Gulf of Mexico, the U.S. House of Representatives was poised on Friday to debate legislation clamping down on the industry's offshore drilling practices.
NYT > Business
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Economists Expect Slower Growth in 2nd Half
Posted: July 30th, 2010, 1:01am EDT by By MOTOKO RICH
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Economists are tempering their outlook ahead of a report on Friday on the nation’s output in the second quarter.
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Citigroup Pays $75 Million to Settle Subprime Claims
Posted: July 30th, 2010, 1:01am EDT by By ERIC DASH and LOUISE STORY
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Besides the bank, two executives were singled out for not disclosing information about mortgage investments.
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Britain Plans to Scrap Mandatory Retirement Age in 2011
Posted: July 30th, 2010, 12:35am EDT by By JULIA WERDIGIER
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The government says it wants to give people the chance to work beyond 65. But business leaders warned that a sudden change would create serious problems.
Yahoo! News: Business
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Economic growth seen slower in Q2 on imports (Reuters)
Posted: July 30th, 2010, 12:02am EDT
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Reuters - U.S. economic growth slowed in the second quarter as companies invested heavily in equipment from abroad and the pace of consumer spending eased, raising concerns about the recovery in the rest of 2010.
washingtonpost.com - Business
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Small, midsize U.S. banks need to raise more capital, IMF financial study finds
Posted: July 30th, 2010, 12:00am EDT by Neil Irwin
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The U.S. financial system remains under stress, with small and midsize banks in particular potentially needing to raise more capital, according to a new report from the International Monetary Fund that shows the continuing strains facing the U.S. economy.
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Commonwealth Fund analysis highlights benefits for women in health-care overhaul
Posted: July 30th, 2010, 12:00am EDT by Amy Goldstein
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The law Congress adopted this spring to reshape the nation's health-care system will be especially beneficial to women, because they traditionally have relied on health care more than men, faced more insurance problems and had greater difficulty paying medical bills, according to a new analysis.
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Few in U.S. move for new jobs, fueling fear the economy might get stuck, too
Posted: July 30th, 2010, 12:00am EDT by Michael A. Fletcher
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PALM COAST, FLA. -- The recession is claiming yet another victim: Americans' near-constitutional right to pick up and move to a better job.
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SEC charges billionaire Texas brothers who donate to GOP with fraud
Posted: July 30th, 2010, 12:00am EDT by Zachary A. Goldfarb and Philip Rucker
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Sam and Charles Wyly, billionaire Texas brothers who gained prominence spending millions of dollars on conservative political causes, committed fraud by using secret overseas accounts to generate more than $550 million in profit through illegal stock trades, the Securities and Exchange Commission...
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Featured Advertiser
Posted: July 30th, 2010, 12:00am EDT
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Foreclosure activity rises in most major metropolitan areas
Posted: July 30th, 2010, 12:00am EDT by Dina ElBoghdady
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Foreclosure activity climbed in three-quarters of the largest U.S. metropolitan areas in the first half of 2010, compared with the same period a year ago, but declined in some of the nation's hardest-hit regions, according to data released Thursday.