Latest Breaking Business News
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Microsoft recruits Siri to bash Apple in new commercial
took aim at Apple and started to mock its products and users. Now, it appears Microsoft is going to try to take the same road to riches with Windows 8 and Windows RT. Alongside a new campaign that compares Windows RT tablets like the ASUS VivoTab Smart to the competition, Microsoft has debuted a clever ad that pits Apple's iPad against Windows RT. As the commercial shows off various ...
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Refinery Status Exxon Reported Pipe Leak at Baton Rouge Refinery
The following table lists planned and unplanned production outages at U.S. refineries as reported by Dow Jones Newswires. The information is compiled from both official and unofficial refining sources and does not purport to be a comprehensive list.A leak was discovered in a process pipe at Exxon Mobil Corp. (XOM) Baton Rouge, La., refinery, the company reported May 22.Motiva Enterprises LLC ...
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State Bank of India Shares Battered After Fall in Profit
State Bank of India (500112.BY) Thursday reported a sharper-than-expected fall in its fiscal fourth-quarter net profit as the country's biggest lender by assets set aside more funds against bad loans, sending its shares down 8%.The bank said its net profit fell 18.5% to 32.99 billion rupees ($590.9 million) in the January-March period from 40.50 billion rupees a year earlier. The average of ...
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J.P. Morgans McInerney Departs For Visa
J.P. Morgan Chase & Co.'s (JPM) consumer-banking head, Ryan McInerney, is joining payments company Visa Inc. (V) in the latest executive departure at the nation's largest bank.The New York bank said Thursday that it named Barry Sommers, J.P. Morgan's chief executive of wealth management, as Mr. McInerney's successor.Mr. McInerney is the second major J.P. Morgan executive ...
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Sears Canada could be turning around despite Target
After an initial few weeks of blockbuster sales in Canada, Target Corp. has to get down to the serious business of selling in the categories where it counts: the repeat-business market segments dominated by Walmart and grocery ...
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Sell cheap fuel and profit Delta Air Lines’ refining 101
NEW YORK -- Making money in the refining business is generally a pretty straightforward proposition: sell your fuel at the highest possible price relative to cost. But Delta Air Lines, the first carrier to expand into the refining business, is trying to find its profits by driving down the price of fuel as much as it can. So far, the airline is seeing the first sign of success: the ...
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U.S. House passes bill to approve Keystone XL as White House vows veto
The U.S. House of Representatives passed legislation to approve the Keystone XL oil pipeline, the eighth time congressional Republicans have advanced a measure promoting the ...
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Going gets tougher for TD as mortgage lending slows
One of the key strengths of the Canadian banks is their diversified business model, allowing them to derive earnings from operations in capital markets, wealth management, insurance and other sectors. The idea is that when one business isn’t doing so well, the others can pick up the slack. The trouble is that for the past several years the lion’s share of profits for all the players ...
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Trans-Atlantic pact between Air Canada Lufthansa and United wins EU antitrust approval
Deutsche Lufthansa AG and United Continental Holdings Inc. reached a settlement with European Union antitrust regulators, ceding airport slots in Frankfurt and New York in exchange for approval of their A++ trans- Atlantic venture also involving Air Canada. The European Commission said that the airlines also committed to reach ticketing and flight connection agreements with competitors as part ...
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New home sales climb 2.3 percent in April
WASHINGTON Sales of new homes rose in April to the second highest level since the summer of 2008 while the median price for a new home hit a record high, further signs that housing is recovering. New-home sales rose to a seasonally adjusted annual rate of 454,000 in April, the Commerce Department said Thursday. That was up 2.3 percent from March and just slightly below January's 458,000. ...
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Help My boss is promoting the wrong person
(MoneyWatch) Dear Evil HR Lady,I'm writing because I don't know how to handle my entitled, know-it-all, gets-away-with-murder coworker. I work in a small office of four people, and I've been the HR assistant (doing generalist work) for five years now. The payroll coordinator thinks that, because she has been here the same length of time and has seen what we all do and gets the ...
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Stocks open sharply lower
Jobless claims fall to 340K Stocks were down 2.7 percent in Germany and 2.6 percent in France. Japan's Nikkei plunged 7 percent but is still up 39 percent this year. Investors were spooked by minutes from the latest Fed meeting indicating that several policymakers are leaning toward slowing the central bank's bond-buying program, which has been keeping interest rates low and ...
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Borders Gift Card Holders Left With Squat
(Image credit: Mandel Ngan/AFP/Getty Images) A judge ruled on Wednesday that customers who hold $210.5 million in gift cards from the defunct Borders chain aren’t eligible for refunds. About 17.7 million gift cards were outstanding when Borders began liquidating its stores in July 2011 after failing to attract offers for the company. Judge Andrew Carter for the U.S. District Court in ...
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US stocks sink after global rout
NEW YORK (AFP) - US stocks fell modestly Thursday after the plunge in the Japanese market sparked a selloff throughout Asia and Europe.A little more than an hour into trade, the Dow Jones Industrial Average was down 68.35 points (0.45 percent) to 15,238.82.The broad-based S&P 500 dropped 11.74 (0.71 percent) to 1,643.61, while the tech-rich Nasdaq Composite Index fell 13.91 (0.40 percent) to ...
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Stocks fall in early trading on Fed stimulus concern contracting Chinese manufacturing
NEW YORK - Stocks fell in early trading, extending a sell-off that began Wednesday afternoon, after Chinese manufacturing unexpectedly contracted and on concern that the Federal Reserve may ease back on its stimulus program. The Dow Jones industrial average was down 50 points at 15,256 as of 10:28 a.m., a decline of 0.3 percent. It had been down 127 points in the early going following steep ...
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What to know about refinancing
The housing market is soaring in part because mortgage rates have never been this low. However, rates have been slowly climbing back up with the improvement of the economy and better-than-expected jobless claims. Refinancing and lowering your rate can be a great way to increase cash flow if you are planning on holding onto the property as a long-term investment ...
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Apricus sets offering price at $17.1 million
The shares include warrants to buy up to 3 million shares at an exercise price of $3.40 per share. Apricus has given underwriters a 30-day option to buy up to an additional 900,000 shares and warrants to buy up to an additional 450,000 shares to cover over-allotments, if ...
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Financial Stocks Citi leads financial stocks lower
NEW YORK (MarketWatch) - Financial stocks tipped lower Thursday, tracking a drop in the broader global equities markets on concerns the Federal Reserve will reduce its bond-buying program and a drop in China's manufacturing index for ...
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Tech Stocks H-P a big gainer as other techs trim losses
SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. shares flexed their muscles, and some other tech stocks advanced as the sector tried to pull itself out from big, early losses spurred by negative reaction to a slate of economic ...
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Bond Report Treasurys benefit from flight-to-safety bid
NEW YORK (MarketWatch) -- Treasurys were beneficiaries of investors' flight to safety on Thursday as global stock markets posted sharp losses, but lost most of their gains as the day wore ...
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Market Snapshot U.S. stocks drop hit by Fed Asian selloff
NEW YORK (MarketWatch) -- U.S. stocks dropped in Thursday morning trade after Japanese equities dived overnight, as global markets reacted to weak Chinese manufacturing data and worries about the Federal Reserve's potential tapering of its bond-buying ...
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Ford Motors to Leave Australia After 90 Years
Ford Motor Company announced Thursday that it would stop making cars in Australia within two years because high costs and low volumes mean it cannot compete with imported vehicles. Ford Australia chief Bob Graziano said that closing its plant in Melbourne and the other 60 kilometres further south-west in Geelong would see 1,200 workers laid off by October 2016. "Our costs are double ...
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Savers face limited options despite fall in inflation rate
Savings for most continue to be eroded and there are only limited choices for those wanting to beat inflation. Photograph: Katherine Rose for the ...
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Markets Global shares slide Spanish bond yields rise
Asian stocks plunged Thursday with Japan's Nikkei 225 plunging almost 7.3%; markets are down by 2% on average in Europe and they have opened off in New ...
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US New Home Sales Rise Mortgage Rate Ticks Up
Sales of new homes rose in April to the second highest level since the summer of 2008 while the median price for a new home hit a record high, further signs that housing is recovering. A separate report out on Thursday showed that average rates on fixed mortgage rose for the third straight week, hitting their highest levels since mid-March. New-home sales rose to a seasonally adjusted annual ...
Mexico Feature
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Mexico has more to it than drugs and immigration
As Mexico’s image suffers damage abroad due to increasing levels of violence related to the drug crack-down by government, it may be helpful for Mexicans to remember that there is more to their country than drugs and immigration problems with the US. Some facts may be surprising and even shocking, especially to foreigners.
Mexico has been in the news frequently of late as the government carries out a crack-down on drug cartels and organized crime, the country’s murder rate is up, journalists have been killed for investigative reporting on drug gangs and our image internationally has generally been diminished by the tunnel vision of international news providers. Read more
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