Latest Breaking Business News
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Restaurants Fear Tough Drunk-Driving Law
NTSB Recommends Toughening Drunken Driving Standard ) "It could have a chilling effect on sales," said Paul Gatza, the director of the Brewers Association, a trade group that represents small American brewers. For restaurants that serve alcohol, beer sales generally account for about 10 to 20 percent of their revenue while wine and spirits make up another 10 to 20 percent, Gatza said. ...
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Big banks provide cash for payday loans
Fast cash is a few clicks away for Minnesotans at the popular CashNetUSA website, where a two-week loan for $100 carries an annual percentage rate of about 390 percent. To many critics, the terms are outrageous and usurious. But they are typical in the world of high-cost short-term consumer loans, or payday lending, and legal in Minnesota. In fact, the business is supported by some of the ...
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New Microsoft CFOs compensation package disclosed
Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Janet I. ...
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Open thread for night owls Stephen Lerner on breaking Wall Streets grip
[T]o build a new anti-poverty movement will require the kind of organizing and actions that are as creative, visible and gripping as the Occupy Wall Street movement. Enter Stephen Lerner. Lerner is a labor and community organizer who has spent more than three decades organizing hundreds of thousands of janitors, farm workers, garment workers and other low-wage workers into unions. These ...
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Oil prices rise on encouraging economic data
Oil prices extended rally Friday on upbeat US economic data as well as positive performance in US commodity markets.US consumer confidence surged to a six-year high in May thanks to a rising stock market and cheaper gas prices, the monthly Thomson Reuters/University of Michigan index of consumer sentiment reported Friday.The preliminary reading of the consumer sentiment rose to 83.7 in May from ...
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China April home prices rise 4.9 percent Reuters calculation
BEIJING (Reuters) - Average new home prices in China's 70 major cities rose 4.9 percent in April from a year earlier, according to Reuters calculations based on official data published on Saturday, marking the fourth straight month of year-on-year ...
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St. Paul microlender NDC boosts small entrepreneurs
Daymn Johnson set up his St. Paul barbershop with a microloan from the Neighborhood Development Center. Here, Johnson gave his son Daymn Jr. a ...
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Wells Fargo leads bank foreclosure halt after OCC guidance
Wells Fargo & Co., the biggest U.S. home lender, halted some foreclosure sales until it can understand new federal guidelines on seizures sent to the nation's large and midsize banks. The rules from the Office of the Comptroller of the Currency dated last month laid out minimum standards that must be met before a foreclosed home can be sold. Citigroup Inc. also said Friday it's ...
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Donaldson results miss expectations
The dull global economy and falling currencies in Europe and Japan are cutting into sales at Donaldson Co., which reported a lackluster third quarter Friday that missed Wall Street expectations. ...
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UnitedHealth slow to fix military care backlog Pentagon says
UnitedHealth Group Inc. is failing to meet terms of a $20.5 billion military contract, causing lingering delays to medical care, a Pentagon official said. The backlogs occurred ...
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Report finds Gen Xers lost almost half their wealth in recession questions retirement savings
NEW YORK - A research report by the Pew Charitable Trusts says younger baby boomers and Generation Xers face an uncertain retirement because of reduced savings, high levels of debt, and losses during the Great Recession. The study found that members of Generation X, who are now between 38 and 47 years old, lost almost half their wealth between 2007 and 2010. Young baby boomers, who are between ...
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Bulls Will Drive Market but Bernanke Is Steering
Federal Reserve Board Chairman Ben Bernanke listens during a meeting of the Financial Stability Oversight Council at the Treasury Department in Washington, ...
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NYSE cancels irregular trades in Anadarko stock Bloomberg
Trading in the shares of the $45.15 billion company plunged to trade at 1 cent per share shortly before markets closed on Friday. The stock gained back its losses and closed up 2.5 pct $90.03 on the New York Stock ...
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Yahoo to vote on $1.1 billion Tumblr buy AllThingsD
SAN FRANCISCO (Reuters) - Yahoo Inc's board will meet on Sunday to vote on whether to offer $1.1 billion in cash for New York-based blogging service Tumblr, tech blog AllThingsD cited sources close to the situation as saying on ...
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CORRECTED-UPDATE 2-Investor group calls on SEC to review change in JPMorgan voting
Fri May 17, 2013 9:08pm EDT (Changes "letter" to "call" in eighth paragraph) By David Henry NEW YORK May 17 (Reuters) - Pension and endowment managers on Friday called on U.S. regulators to review the rules for shareholder voting after a firm collecting ballots for JPMorgan Chase & Co cut off the bank's opponents from polling information. The Council of Institutional ...
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Village Voice tosses veteran columnists Musto Feingold
Turmoil continued to grip the Village Voice today, with owners of the free weekly axing two of its most well-known columnists - Michael Musto, who had penned the gossipy La Dolce Vita for 20 years, and veteran theater critic and 2009 Pulitzer Prize finalist Michael Feingold.Feingold was a staffer for 30 years. "As of next week, veteran gossip columnist Michael Musto and longtime theater ...
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Mugabe’s party accuses Coca Cola of promoting rival party ahead of election
A man waits to obtain his national identity card during a voter registration drive in Harare ahead of the general election. Photograph: Philimon ...
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San Diegos export potential problematic
The choice is not whether we compete but whether we do it well or not, and the cost or risk of competing poorly is falling behind. San Diego is faced with trade-related infrastructure capacity constraints in four of the five ways to move people and goods in and out of the region, forcing us to depend upon the increasingly constrained infrastructure located in the greater Los Angeles area. To ...
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Northrop Grumman lands $555.6 million contract
Northrop Grumman's San Diego division has been awarded a two-year Air Force contract potentially valued at $555.6 million to modernize its Global Hawk unmanned aerial vehicles, the Defense Department ...
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San Diego firms report March quarter results
Envision Solar, a San Diego maker of solar tree structures for parking lots and other uses, posted lower sales and larger loss for the quarter ended March 31 compared with the prior ...
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Europe investors bow to Africa Asia in U.S. real estate deals
The panel analyzing capital investment in U.S. real estate, from left, were: John R. Miller, Charles H. Fedalen Jr., Christopher R. Ludeman, J. Michael Stedman and Jon H. ...
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Seattles Tableau goes from bedroom startup to Wall Street darling
The data-visualization company burst onto the public markets Friday with a steller public offering, jumping 64 percent to close at $50.75, up from its initial $31 price. Nearly 100 employees were in New York to celebrate while parties were held at its offices, including its headquarters in Fremont. Ten years earlier the future wasn't so clear, though Chief Executive Christian Chabot ...
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Lloyds’ shares rise above break-even level raising hopes for sell-off of taxpayers’ stake
The prospect of the Government getting rid of its stake in Lloyds moved closer yesterday as shares in the bank broke the level set as the break-even price for ...
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Kudlow The Only Fix for IRS Mess
When you get right down to it, the political targeting and stalling of tax-exempt applications by the IRS was an effort to defund the Tea Party. Rick Santelli, one of the Tea Party founders and my CNBC colleague, was the first to make this point. I've taken it a step further: The IRS was taking the Tea Party out of play for the 2012 election, as it looked to avoid a repeat of 2010 and ...
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This Week on Wall Street 517
BOSTON (CBS) – How high can the markets go? Dave Caruso from Coastal Capital in Danvers looks into that question as he reviews the Week on Wall Street, with WBZ's Anthony ...
Scotland Feature
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Scotland's waterways seeing revival
Scotland’s waterways, the canals used to transport bulky goods and vast quantities of coal in the days before the development of the railways, are of great significance in terms of their role in the development of the country, new projects are making sure they remain so.
Scotland recently began investing heavily in its canal system with the introduction of the Millennium Link, a project to restore the Union Canal and Forth and Clyde Canals for use by recreational boaters, tourists and to encourage investment in the tourism, retail and commercial sectors. Read more
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