Latest Breaking Business News
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Labor Market Divides Fed Hawks Doves
As the market awaits Congressional testimony Wednesday from Federal Reserve Chairman Ben Bernanke, it's been focusing closely on whether members of the rate-setting Federal Open Market Committee support tapering, or a reduction in Fed asset purchases. Where there has been less focus is on the debate inside the Fed that will ultimately determine the answer to that question: do members ...
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Home Sales Rise as Inventories Jump
Sales of previously-occupied U.S. homes ticked up last month to the highest level in three and a half years, helped by a jump in the number of houses for saleThe National Association of Realtors says sales rose to a seasonally adjusted annual rate of 4.97 million, up from 4.94 million in March. Home sales have risen 9.7 percent in the past 12 months. Still, sales have changed little since ...
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Target 1Q earnings fall misses estimates
Target's revenue and sales were down in the first quarter, following a retail pattern for the start of the year. Target earned $498 million, or 77 cents per share in the quarter, which is down from a profit of $697 million, or $1.04 per share in the first quarter of 2012. The discounter fell short of matching even its own estimates. In April, Target estimated its earnings would be about 87 ...
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Regulator okays RBS Lloyds funding plans
Royal Bank of Scotland and Lloyds won't need to tap investors or taxpayers for new funds to bolster their financial strength as they prepare to be returned to the private ...
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State-backed UK banks gain approval for capital plans
The regulator said on Wednesday it had finalized capital requirements for the two banks and that the lenders had submitted their plans. Both banks said they did not need to issue new equity and could raise the necessary capital by selling assets and via restructuring plans already under ...
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Clearwire recommends vote for revised Sprint bid
Wireless service provider Clearwire announced the decision just a day after Sprint raised its offer for the almost 50 percent of the company it does not already own to $3.40 per share from $2.97 per ...
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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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Boeing plans to return 80 percent of free cash to shareholders
Speaking at an investor conference, Boeing Chief Financial Officer Greg Smith said the cash deployment move, a step up from current levels of cash return, won't reduce its cash balance of about $11 ...
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Pfizer to spin off Zoetis stake to shareholders
(Reuters) - Pfizer Inc said on Wednesday it will spin off its majority stake in animal health business Zoetis Inc to shareholders by allowing them to swap Pfizer stock for Zoetis stock at a 7 percent ...
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U.S. Hot Stock Futures Hot Stocks To Watch
Among the companies with shares expected to actively trade in Wednesday's session are Saks Inc. (SKS), Zale Corp. (ZLC) and Multiband Corp. (MBND).Luxury retailer Saks has hired Goldman Sachs Group Inc. (GS) to explore strategic alternatives, including a possible sale, according to a story in the New York Post, which cited sources and people briefed on the situation. A Saks spokeswoman told ...
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International Investors Jittery Over Indonesias Rebuff of Bank Bid
JAKARTA, Indonesia – Indonesia's initial rejection of Singapore's DBS Group Holding Ltd's (D05.SG) bid to acquire a majority stake in PT Bank Danamon Indonesia (BDMN.JK) sends the wrong signal to international investors, many of whom are worried Indonesia is leaning toward more economic nationalism and protectionism, some analysts and investors say.DBS, Southeast Asia's ...
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Slovakia Hires Banks for New 2018-Dated Euro Benchmark Bond Issue
Slovakia has hired three banks as joint lead managers for the issuance of a new euro benchmark government bond due in 2018, the Slovak Debt and Liquidity Management Agency, or Ardal said Wednesday.The transaction will be launched in the near future, subject to market conditions.The banks Slovakia has mandated are Ceskoslovenska obchodna banka, a.s., which is part of the KBC Group, Tatra banka, ...
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EUROPE MARKETS Europe Stocks Slide Ahead Of Bernanke Comments
LONDON – European stock markets slid from multiyear highs on Wednesday, as investors stayed cautious ahead of comments from U.S. Federal Reserve Chairman Ben Bernanke.The Stoxx Europe 600 index lost 0.5% to 308.49, retreating from the highest closing level since June 2008, reached on Tuesday.Among the biggest decliners, shares of Kazakhmys PLC dropped 4.8%, after UBS cut the miner to ...
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Bernanke expected to stay the course on Fed policy
Chairman of the Federal Reserve Bank Ben Bernanke attends the Treasury Department's Financial Stability Oversight Council in Washington April 25, ...
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Target’s Canadian stores open big as retailer posts lower earnings
Target Corp.'s first Canadian stores rang up big sales in the first few weeks of business. The company, which opened its first 24 Canadian stores in March, saw first-quarter sales of US$86-million in its Canadian unit in the period ended May 4. But Walmart's biggest U.S. rival posted lower than expected earnings in its overall business due to soft sales and lowered its annual ...
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Ontario Teachers’ Pension Plan to open Hong Kong office
The Ontario Teachers’ Pension Plan says it open up an office in Hong Kong within months, as it pushes to increase their exposure to emerging markets from 15% to 20%. James Leech, the chief executive of the largest-single profession pension plan in Canada, says the plan on Tuesday received notification that it received the appropriate licensing to open an office in Hong Kong to cover ...
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Xbox One Microsofts game changer
09/11/2012 20:27 CET The Xbox One – which Microsoft has just unveiled – is its strongest push so far to dominate consumers’ living rooms with a complete entertainment system designed for the whole family. The new device interacts with a television, responds to voice and gesture commands and is intended to be simple and intuitive. Jim Yin, Analyst, S&P Capital IQ said it ...
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Targets profit drops 26 percent on weak sales
TGT ) reported a 26 percent drop in first-quarter profit as cool temperatures and financial pressures limited customers' appetite for spending. The company, based in Minneapolis, also cut its annual profit outlook, sending its stock down in premarket trading. Target is the latest in a string of companies including rival Wal-Mart Stores Inc. that underscore how weather and other pressures on ...
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Top 10 cities where renting is better than buying
(MoneyWatch) You've been told time and time again that buying a home is a better financial option than renting. But that's not true everywhere. Despite the affordability of today's homes, there are a few cities around the U.S. where renting might be a better bet, at least in the short run. Comparing buying versus renting costs is all about identifying the break-even point. ...
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Getting the Most Out of Travel Rewards
Airline miles are some of the most coveted credit-card rewards out there, but they're also among the least understood. That's simply because they're hard to pin down. The value of the traditional reward mile is fickle, changing from one booking to the next and with each swipe of your credit card. To get a handle on your miles and how to use them best, read on below, where we ...
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US STOCKS-Wall St opens higher ahead of Bernanke
Wed May 22, 2013 9:40am EDT * Saks rallies on report it could sell itself * Bernanke seen hitting dovish note in testimony * Dow, S&P, Nasdaq up 0.1 pct By Rodrigo Campos NEW YORK, May 22 (Reuters) - U.S. stocks edged higher at the open on Wednesday, ahead of highly anticipated testimony in Congress by Federal Reserve Chairman Ben Bernanke on the economy and monetary policy. Bernanke is expected ...
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Intuit posts 3Q profits that narrowly beat Wall Street estimates
TurboTax currently represents about a third of Intuit's annual revenue. Sales of TurboTax are expected to grow just 4 percent this year, prompting the company to invest more time and money into its online and mobile products. Shares of Mountain View-based Intuit are trading flat in early trading today, after the company posted quarterly earnings that mostly met Wall Streets expectations. The ...
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US STOCKS SNAPSHOT-Wall St firms at open before Bernanke testimony
NEW YORK | Wed May 22, 2013 9:33am EDT NEW YORK May 22 (Reuters) - U.S. stocks rose slightly at the open, ahead of highly anticipated testimony in Congress by Federal Reserve Chairman Ben Bernanke on the economy and monetary policy. The Dow Jones industrial average gained 18.20 points, or 0.12 percent, to 15,405.78. The Standard & Poor's 500 Index added 1.97 points, or 0.12 ...
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Whats best U.S. city for engineering jobs
A study released Tuesday by the job-search engine Monster.com listed San Diego as the fourth best place in the country for engineers, based on the frequency of job ads from February to ...
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Stocks Moving Modestly Higher On Upbeat Earnings News - U.S. Commentary
Stocks have moved modestly higher in early trading on Tuesday, benefiting from a positive reaction to some upbeat earnings news. The major averages have all moved to the upside, offsetting the slim losses posted in the previous session.The major averages are currently posting modest gains, near their highs for the young session. The Dow is up 59.36 points or 0.4 percent at 15,394.64, the Nasdaq ...
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Bond Report Treasurys edge up ahead of Bernanke testimony
NEW YORK (MarketWatch) -- Treasurys traded slightly higher on Wednesday as the market waited for Federal Reserve Chairman Ben Bernanke to appear before ...
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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