Latest Breaking Business News
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Fed sees fierce competition among banks
Minnesota's community bankers are reporting "exceptionally fierce" competition for commercial loans, according to the local branch of the Federal ...
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Twin Cities market for office buildings picks up
The market for signature office buildings in the Twin Cities has flourished in recent weeks, with large companies pursuing deals to sell, expand or ...
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Stricter U.S. labeling rule on meat imports may cost $192 million
WASHINGTON - The United States tightened country-of-origin labeling provisions to specify where animals are born, raised and slaughtered after the World Trade Organization backed complaints from Canada and Mexico that challenged the policy. The rule also bans the mingling of meat cuts of commodities from different nations, according to U.S. Department of Agriculture regulation to be published ...
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Walmart rolls out initiative to hire veterans
Walmart veteran associates Allan Armstrong and Pablo Ceniceros pose with Commanding Officer Scott Adams, Naval Base Point Loma at a community-wide event held on Saturday, May 18 to honor veterans and those currently ...
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It bytes Google rivals demand FTC ad probe
Google is back on the radar of federal regulators.The Federal Trade Commission has opened a preliminary probe after, sources said, rivals complained about its display ad business.The FTC, which earlier this year cleared Google of any wrongdoing in its search business, is now being asked to look at how the search giant sells display ads, sources familiar with the inquiry said.The sources stressed ...
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Icahn’s bank is in the Dell
Carl Icahn has hired investment bank Jefferies to help fund a planned recapitalization of computer giant Dell Inc.The billionaire financier (pictured) is said to have reached out to banks as part of an effort to raise as much as $5 billion to fund a restructuring of the Round Rock, Texas-based PC maker founded by 48-year old Michael Dell in his college dorm. Icahn’s proposal would serve as ...
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Profit fills Gap in Q1
Gap Inc. reported a higher first-quarter profit on Thursday, helped by a rise in same-store sales at its Old Navy and namesake chains, and growth in Asia.Gap has staged a comeback in the last few years, offering hipper fashions that have found favor again with shoppers that in the interim had flocked to Zara parent Inditex and homegrown competitors such as Forever21.The company, which also owns ...
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Mojo’s back for Ackman PG chief departs
Bill Ackman still has clout.Procter & Gamble - one of Ackman’s top investments - said last night that CEO Bob McDonald would leave the company this summer, to be replaced by former CEO A.G. Lafley.Just two weeks ago, Ackman said at the Ira Sohn investment conference that if McDonald couldn’t fix the company soon, he would have to go.Still battered by his debacle at JCPenney and ...
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Targeting Visa MC
Target, Macy’s and 15 other retailers sued Visa and MasterCard over credit- and debit-card fees after exiting a proposed $7.25 billion settlement of a similar case, alleging it gave the firms too much leeway to raise future rates. The card firms restrained competition for interchange fees by setting default rates and imposing almost identical rules for accepting cards, the retailers said ...
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Galaxy star-ship is flying
Samsung says it is shipping Galaxy phones at a record clip.The latest Galaxy S4 has been in stores for a month, and Samsung said it’s moved 10 million of the devices. It first started selling at AT&T and T-Mobile last month, but hit Verizon stores yesterday.Verizon representatives reported its stores had lines for Samsung’s flagship phone. The HTC One, another recent mobile ...
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3 SAC execs subpoenaed
Three senior executives at Steven Cohen’s SAC Capital Advisors have received subpoenas as part of the US multi-year probe into insider trading at the hedge fund. Subpoenas were sent to Tom Conheeney, president of SAC; Steve Kessler, head of compliance; and Phillipp Villhauer, head trader, a source ...
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Tweet this Ads aimed at users
Twitter plans to release a tool that makes it easier for advertisers to find their customers who also use the social-messaging service, according to three people familiar with the matter.The feature will let marketers use e-mail addresses to identify and target Twitter users who match up with a company’s own customer lists, said the people, who asked not to be identified because the plan ...
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Pandora hits $128M high note
Pandora Media said first-quarter revenue grew 58 percent, to $128.5 million, thanks to mobile advertising and new subscribers to the online streaming music service.Pandora also said mobile revenue nearly doubled, to $83.9 million."The mobile cap they put in place appears to be working - it’s driving lower content costs and additional subscribers," said Aaron Kessler, an analyst ...
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Reborn Goldman links pay reputation
Lloyd Blankfein can get back to doing "God’s work."The Goldman Sachs boss said the investment bank is a better place after completing a three-year overhaul of its business practices. Blankfein, speaking at the firm’s annual meeting in Salt Lake City, Utah, yesterday, touted the steps the bank has taken to improve client relationships and avoid the conflicts of interest that ...
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Microsofts Xbox didnt violate Google patent says ITC
Xbox One vs. PlayStation 4 vs. Wii U: Can one console ...
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Tongaat Hulett earnings rise
Johannesburg - South Africa's Tongaat Hulett reported a 15-percent rise in full-year earnings on Friday as sugar production rose and said it expected further growth in the year ...
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Microsoft Introduces Xbox One an All-in-1 Home Entertainment System
According to a release, at Microsoft headquarters in Redmond, Wash., the company showcased how Xbox One puts the user at the center of games, TV, movies, music, sports and Skype. "Xbox One is designed to deliver a whole new generation of blockbuster games, television and entertainment in a powerful, all- in-one device," said Don Mattrick, president, Interactive Entertainment ...
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Emerging markets perk up earnings
SABMiller’s shares shed R12.15 to close at R496.50 yesterday following the release of results for the year to March that showed revenue and adjusted earnings growth in line with market expectations. The 2.3 percent drop in the share reflected general weakness in the market and a neutral response to the ...
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Angola to start bond market this year
Angola planned to start a publicly traded bond market in the third quarter as it sought to boost investment, Archer Mangueira, the president of the country’s Capital Markets Commission, said ...
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Next leads fallers after downgrade as FTSE edges lower
After volatile trading in Japan ended with the Nikkei ending marginally higher, leading UK shares are also struggling for direction.With the leading index just a few points ...
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Reuters says Apple had Irish tax holiday from the start in 1980
Reuters says Apple had Irish tax holiday from the start in 1980 By Michael Hennigan, Finfacts founder and editor May 24, 2013 - 9:43 AM ...
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Feds Bullard Wants Faster Inflation Before Tapering QE
Inflation is the U.S. data "wild card" and needs to move closer to target before the Federal Reserve shifts towards a tapering of its bond purchase program, St. Louis Federal Reserve Bank President James Bullard told CNBC on Friday. "One wildcard for the data in the U.S. is inflation. Numbers have come in quite low. Inflation has been, by our preferred measures been about 1 ...
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London Markets U.K. stocks wobble as miners banks decline
LONDON (MarketWatch) -- U.K.'s FTSE 100 index slipped on Friday, with mining firms adding pressure as metals prices turned south and with banks building to the prior day's ...
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Meat labels getting facelift under new USDA rules
MILWAUKEE Shoppers in the U.S. will soon have more information about where their meat comes from, due to new federal labeling rules that went into effect Thursday. The rules require labels on steaks, ribs and other cuts of meat to say where the animal was born, raised and slaughtered. Earlier U.S. Department of Agriculture rules only required that countries of origin to be noted, so a package ...
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What Central Banks Can Learn From Volatility
If there's one thing the world's central bankers can take away from this week's market volatility, it is that they need to do a better job of communicating, say market watchers. The latest comments from the U.S. Federal Reserve about tapering its stimulus program and uncertainty about the implications of the Bank of Japan's radical monetary policy have sent markets on a ...
Arizona Digest
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Arizona may need to use prison labor
With Arizona’s budget deficit at state level soaring past $3 billion and projections for the next few years suggesting it might reach $10 billion, due to a highly controversial decision by the state legislature to sell a number of public buildings and then lease them back. Fortunately, not all financial news and outlooks for the state are negative, one small border town called Douglas, may just have a solution to the cash crisis facing some municipalities across the state.
Arizona’s financial situation in the wake of the universally destructive Great Recession has become dire. Our deficit for 2010 is many times higher than what it was a few years ago, before the crash of late 2008, and because of this the state legislature has become desperate to save money by cutting budgets and raise money by selling public buildings. Read more
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