Latest Breaking Business News
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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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Wall St ends near flat small co stocks in limelight
US stocks ended little changed on Monday with indexes hovering near record levels as concerns about a correction cut earlier gains that were boosted by acquisition activities. Based on the latest available data, ...
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United Airlines to return all Boeing 787s to service this week
CHICAGO | Mon May 20, 2013 6:51pm EDT CHICAGO May 20 (Reuters) - United Airlines said on Monday it expects to have its entire fleet of Boeing 787 Dreamliners back in service this week, as the airline's first flight with the new jetliner in four months landed safely in Chicago. "Every new airplane has issues," United CEO Jeff Smisek said after the flight landed ahead of ...
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Apple uses companies outside US to avoid paying billions in US taxes Senate inquiry finds
WASHINGTON - Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes, a Senate investigation has found. The world's most valuable company is holding overseas some $102 billion of its $145 billion in cash, and an Irish subsidiary that earned $22 billion in 2011 paid only $10 million in taxes, according to ...
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Consumer spending will help to offset sequester economists say
WASHINGTON -- Consumers will help keep economic growth on track this year, as new projections of their spending indicate it will offset the hit to the recovery from the federal government's automatic budget cuts, a panel of economists said Monday. The National Association for Business Economics estimated that the nation's economic output would grow 2.4 percent this year, the same as ...
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Why are more pizza outlets coming to SD
"We're looking at San Diego and Los Angeles as target markets because we're so under-penetrated there," said Thomas McCord, vice president of real estate and franchise development. "We're not a high end pizza concept. We're about value. We do very well with blue collar households, with people (who) want to take their family, have a full buffet and a nice dinner ...
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US stocks dip despite MA activity
US stocks have slipped despite a flurry of merger and acquisition news this week.Investors are also looking ahead to Federal Reserve Chairman Ben Bernanke's testimony to Congress this week.Yahoo!'s $US1.1 billion ($A1.13 billion) deal to buy blogging platform Tumblr temporarily helped to lift the Nasdaq above the flat line on Monday.But the move was not enough to keep it there.The Dow ...
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Yahoo Takes space in old NY Times building
Yahoo is tumbling into the old Times Building on W. 43rd St. with a new lease for 176,000 feet on the 9th through 12th floors of the 16-story building where they will consolidate their city headquarters.Yahoo CEO Marissa Mayer announced the move as she and Mayor Bloomberg discussed the $1.1 billion Tumblr acquisition at a press event. The Post first reported the tech giant was exploring options ...
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After Tumblr Takeover Whos Next
Yahoo's announcement on Monday that it's snapping up Tumblr for $1.1 billion, the attention has shifted to other private technology companies that could be next. (A little horn-tooting: ...
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Tumblrs Issues for New Parent Yahoo
Investors are asking how the aging Internet giant plans to make money off Tumblr's feisty, fickle users--who want reassurance that the grown-ups won't barge into their clubhouse and spoil the fun. "It's not the worst idea but it's not a clear victory," said Brian Wieser, senior analyst at Pivotal Research Group. "It definitely gives us traction with a ...
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Urban Outfitters sales miss Street estimates shares fall
Urban said on Monday its profit was helped by a fall in merchandise markdowns due to improved demand at its hipster Anthropologie brand and lower store occupancy ...
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Exclusive U.S. Air Force to move forward target date for F-35 use
Workers can be seen on the moving line and forward fuselage assembly areas for the F-35 Joint Strike Fighter at Lockheed Martin Corp's factory located in Fort Worth, Texas in this October 13, 2011 handout photo provided by Lockheed ...
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Apples stateless subsidiaries lower tax bills Senate report
AAPL.O ) has held billions of dollars in profits in Irish subsidiaries to pay little or no taxes to any government, a Senate report on the company's offshore tax structure concluded on ...
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Trade group SIFMA names ex-Senator Gregg as CEO
NEW YORK – SIFMA, the U.S. securities industry's largest trade group, named former Senator Judd Gregg as chief executive officer, in a move that may signal a desire to mend fences with ordinary Americans and U.S. Congress. The Securities Industry and Financial Markets Association had been expected to give the post to interim chief executive and president Kenneth Bentsen, a veteran ...
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Solar Stocks Help ADR Shares End Higher
International companies trading in New York closed higher Monday amid rising solar stocks and positive comments out of Japan about its economy.The Bank of New York index of ADRs added 0.3% to 142.69.The Japanese government raised its assessment of the country's economy, which offset some strengthening in the yen following comments over the weekend by Japanese Economy Minister Akira Amari ...
Bangladesh in Focus
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Myanmar refugees in Bangladesh, the politics of their situation is more important than the human impact
Bangladesh and Myanmar have been disputing their sea border for years, and in recent months tensions on the land border have mounted as claims of interference and counter-claims of provocation are made by both countries, now the politics of territorial dispute have come to have a direct bearing on the respect for human life and development.
In October of 2009, the government of Bangladesh received a report from its military officials detailing a credible threat of attack from Myanmar, they feared that St Martin’s island in the Bay of Bengal, a region increasingly important economically for hydrocarbons, would be attacked and captured by Myanmar, and called for the government to strengthen the defensive capability of the island which has a circumference of just 3 miles. Read more
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