Latest Breaking Business News
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Apple former Washington wallflower now at center of tax fight
Apple CEO Tim Cook is pictured during a Senate homeland security and governmental affairs investigations subcommittee hearing on offshore profit shifting and the U.S. tax code, on Capitol Hill in Washington, May 21, ...
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Blackstone Prologis Acquire Industrial Portfolio for $960 Million -Sources
Blackstone Group LP (BX) and industrial landlord Prologis Inc. (PLD) agreed to acquire a warehouse portfolio that is majority owned by Lehman Brothers for $960 million, people familiar with the matter said Wednesday.The deal marks Blackstone's second acquisition of industrial properties this week. The private-equity company now owns 100 million square feet in the sector. Blackstone on ...
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In final year as Canada’s top bank watchdog Julie Dickson will make no apologies
Canada’s top banking regulator is leaving when her seven-year term expires next year, marking a significant changing of the guard. But will the departure of Julie Dickson at the helm of the Office of the Superintendent of Financial Institutions (OSFI) result in a drastic change in tone? Not likely. After all, the 55-year-old career public servant is a product of a regulatory system that ...
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Flaherty says Ottawa to move ahead with single securities regulator plan even without provinces
OTTAWA --Finance Minister Jim Flaherty says the federal government will again push ahead with the creation of a national securities regulator, with or without the agreement of the provinces and territories, to deal with areas in which Ottawa is constitutionally responsible. "I've been advocating a common securities regulator for a long time, with limited success," Mr. Flaherty ...
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Australia shares to weaken after Wall St decline
SYDNEY | Wed May 22, 2013 7:16pm EDT SYDNEY May 23 (Reuters) - Australian shares are seen easing on Thursday after falls on Wall Street over worries that the U.S. Federal Reserve may consider winding back its economic stimulus programme. * Local share price index futures fell 0.4 percent, a 14.4-point discount to the underlying S&P/ASX 200 index close. The benchmark closed 0.3 percent ...
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U.S. House votes to force approval of Keystone pipeline
WASHINGTON | Wed May 22, 2013 7:09pm EDT WASHINGTON May 22 (Reuters) - The U.S. House of Representatives approved a bill on Wednesday declaring that a presidential permit was not needed to approve the Canada-to-Nebraska leg of the proposed Keystone XL oil pipeline. The Republican-controlled House voted 241-175 with support from some Democrats. The bill, which would take authority for ...
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Corero appoints high tech executive to lead worldwide sales
HUDSON, MA, May 21, 2013 – Corero Network Security, the First Line of Defense for enterprises globally against Distributed Denial of Service (DDoS) attacks and ...
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Executives decry pressure of ‘short-termism’ in earnings targets
Senior corporate executives say they have faced growing pressure in the past five years to meet short-term earnings targets, leading to a new campaign to urge shareholders to take a longer-term outlook for stocks they own.The heads of the Canada Pension Plan fund and international consulting firm McKinsey & Co. told a Toronto audience Wednesday they are launching a campaign to convince ...
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Renting better than buying in the Twin Cites
Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet ...
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San Onofre execs in Star Trek parody
Ross Ridenoure (center facing right), chief nuclear officer of the San Onofre nuclear power plant, and workers stood by one of the two new generators that will be installed in the complex. (Charlie Neuman / ...
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Ben Bernanke tells bulls what they want to hear
Ben Bernanke's statement suggests the prospect of an imminent change of policy by the Federal Reserve is unlikely. Photograph: James Berglie/ZUMA ...
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QA with a London derivatives trader | Joris Luyendijk
interviewee who specialised in shares (equity) and who was lamenting the rise of derivatives - financial products such as options, swaps and futures that can be almost infinitely more complex than simple shares. Today's interviewee is one such derivatives ...
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Wal-Mart plans to send automated shopping lists to its mobile app
IDG News Service - Wal-Mart plans to use big data about a customer's usual shopping to automatically create shopping lists for them on its mobile app. That's one of the tools the world's largest retailer plans to use to improve the in-store shopping experience as it looks to mobile-influenced purchases outpacing e-commerce sales, said Gibu Thomas, Wal-Mart's global head of ...
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Wal-Mart Using Big Data to Power Mobile
Wal-Mart wants to tell you what to buy on your mobile device and it's using its massive collection of data to make it a reality. "Our mobile strategy is as simple as it is audacious. We want to make mobile tools that become indispensable for our customers while shopping in our stores and online," said Gibu Thomas, global head of Wal-Mart's mobile division, on Wednesday at the ...
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Tesla Pays Off $465 Million DOE Loan
Tesla has become the first automaker to repay its loan under the Energy Department's Advanced Technology Vehicle Manufacturing program. In a statement issued after the money had been wired, Tesla CEO Elon Musk said, "I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American ...
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DryShips posts another loss expects rates to remain weak
DRYS.O ), a drybulk shipper and offshore contract driller, posted a sixth straight quarterly loss and said it did not expect charter rates to improve this ...
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Midwest gasoline prices expected to cool after spike
(Reuters) - Gasoline prices in the Midwest should fall in the coming days after hitting record highs in several cities last week in the run up to Memorial Day, the traditional start to the summer driving season, traders and industry analysts said on ...
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LyondellBasell Raises Dividend by 25 Approves Share Buybacks
LyondellBasell Industries NV's (LYB) board has raised the plastics and chemicals company's quarterly dividend by 25% and approved the repurchase of up to 10% of its stock over the next 12 months, moves to increase shareholder return.The dividend increase to 50 cents a share will cost the company about $57.5 million more a quarter, based on roughly 575 million shares outstanding as of ...
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Whole Foods says grocer wants to open 40 more stores in Canada
MONTREAL - U.S. grocer Whole Foods Market Inc. says it could open 40 or more stores and tally $1-billion in annual sales in Canada as part of a wider expansion that continues unabated. ';By the time we actually get to the place of being able to open those stores, I expect the market will continue to evolve,'; company co-chief executive John Mackey told reporters at a business ...
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‘Get ready to deal with fear’ CP Rail chief Harrison fires back at union critics over safety concerns
Hunter Harrison, Canadian Pacific Railway Ltd. chief executive, fired back at some of the railway's union leaders Wednesday after they expressed concerns this week that a restructuring underway at the railway may be contributing to several high-profile derailments, including one in Saskatchewan on Tuesday that spilled more than 68,500 litres of crude oil on the ground before it was ...
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Assessing Detour Gold’s $153-million bought deal
There's a lot of wouldas, couldas and shouldas about the $153-million bought deal financing for Detour Gold that came to the market late Tuesday afternoon. That deal, which came a day after the shares hit a recent six-month low, was priced at $8.75 a share, or more than 5% below its then trading price of $9.23. The deal also broke a steady Detour Gold financing strategy: always finance at ...
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Amys Baking Company could face legal nightmare
(MoneyWatch) For those with a taste for reality TV, business or even disaster movies, Amy's Baking Company has become a sight to behold. A disastrous appearance on the show "Kitchen Nightmares" was quickly followed by ...
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Hewlett-Packards Q2 profit falls by $516 million
Hewlett-Packard Co. reported a second quarter profit of $1.1 billion, down $516 million, or 32 percent from the same quarter a year earlier. Palo Alto-based HP (NYSE: HPQ), led by ...
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US stocks fall as market eyes possible Fed retreat
Trader Kevin Lodewick works on the floor of the New York Stock Exchange in this May 2, 2013, file photo. US stocks Wednesday, May 22, 2013, ended lower following a choppy day of trading as the market weighed exit signals on the Federal Reserve’s exceptionally loose monetary policy. AFP PHOTO/RICHARD DREW NEW YORK--US stocks Wednesday ended lower following a choppy day of trading as the ...
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Hewlett-Packard sees profit drop but beats expectations
A Hewlett-Packard logo is seen at the company's Executive Briefing Center in Palo Alto, California in this January 16, 2013, file photo. Hewlett-Packard Co's quarterly profit slid 32 percent but the world's largest personal computer maker raised the lower end of its full-year outlook as revenue from services to corporations slightly offset shrinking PC sales in the second quarter ...
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ValueVision has first quarterly profit in seven years
Eden Prairie firm, better known as the TV channel and website ShopNBC, earned $1 million, or 2 cents a share, in the first quarter its first quarterly profit since 2006. "We cut costs and managed carefully," said Bill McGrath, chief financial officer, in an interview Wednesday. The firm reduced several lending agreements to one, and expanded its revolving line of credit to $50 million ...
Atlanta in the Spotlight
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Stand fast Atlanta, but dont be selfish
Atlanta is the capital of Georgia, therefore it is the leader of the state, and the actions and decisions of city leaders will influence the stability, or lack thereof, of the state. It is a substantial responsibility and one that should not be taken lightly. Atlanta must weather the current recession in a manner helpful to the wider region as well as itself.
Atlanta is one of the fastest growing cities in the US. It is the beating heart of Georgia, and one of the main centers for economic activity with the head quarters of several major companies located in its CBD, including Coca Cola, Delta Airlines, and AT&T. Just behind Chicago and Minneapolis, it has one of the highest concentrations of Fortune 500 companies located within the greater Atlanta Metropolitan Area. Read more
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