Latest Breaking Business News
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Fed uncertainty extinguishes rally
NEW YORK Stocks fell today on news that several Federal Reserve policymakers in a meeting earlier this month favored cutting back on stimulus programs as early as June if the economy continued to improve. The Dow Jones industrial average lost 80 points to 15,307, a loss of a half a percent. The release of minutes of the April 30-May 1 meeting reversed a 154 point surge in early trading after ...
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HPs second-quarter earnings fall 32 percent
SAN FRANCISCO Hewlett-Packard's slump is deepening as the world's largest personal computer maker scrambles to meet the growing demand for more versatile and less expensive mobile devices. A quarterly earnings report released Wednesday provided the evidence of Hewlett-Packard Co.'s ...
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US Stocks Wall Street extends losses SP down 1
Sources said the provision would not only badly hit Indian IT cos, but also disrupt operational capabilities of a large number of key US cos as ...
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Why Are Homeowners Being Jailed for Demanding Wall Street Prosecutions
May 22, 2013 3:00 PM ET A two-day long housing protest outside the Department of Justice this week has resulted in nearly 30 arrests and several instances of law enforcement unnecessarily using tasers on activists, according to eye-witnesses. The action – which was organized by a coalition of housing advocacy groups, including the Home Defenders League and Occupy Our Homes – called ...
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After Hours H-P shares jump after earnings outlook
SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. shares soared after the computer maker reported second-quarter results and an outlook that topped Wall Street ...
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HP earnings sink 31 percent but surpass expectations
Hewlett Packard CEO Meg Whitman Hewlett-Packard Co. reported second quarter earnings today, showing earnings per share of $0.55 or $1.1 billion, a 31 percent decline in earnings from a year ago. Adjusted earnings came in at $0.87 a share or $1.7 billion, exceeding analyst expectations of $0.81 a share. Net revenue fell 10 percent to $27.6 billion, and cash flow came in at $3.6 billion, a 44 ...
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Target Cuts Full-year Forecast on Disappointing Earnings
Target Corp., like many other retail rivals, was laid low in its first fiscal quarter by cold spring temperatures that discouraged seasonal shopping and caused the chain to underperform by even its own metrics. The Minneapolis company said sales at stores open more than a year declined 0.6% in the three months ended May 4. That's after the retailer in April amended an earlier forecast ...
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J.P. Morgan Chase Boss Keeps Both Jobs
J.P. Morgan Chase Chairman and CEO Jamie Dimon can keep both his jobs after just 32 percent of shareholders voted Tuesday in Tampa, Fla. for a non-binding measure that would have advised the global financial giant to split the roles. Last year, 40 percent of shareholders voted for the measure. In six prior annual meetings where Dimon has been both chairman and CEO, shareholders have been ...
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Letters Paying tax is absolutely a moral issue
Never mind morals, tax is all about the rules , 21 May). A great many ordinary people see payment - or rather non-payment - of tax as fundamentally a moral question. Perhaps it might be talked about as justice or fairness, but it boils down to the same thing. Christian Aid supporters have been campaigning on matters of tax justice for five years.At the heart of their concern is the moral ...
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Google boss calls for a rational and predictable international tax system
Google boss Eric Schmidt, explaining his firm's tax affairs, says: 'Virtually all the American companies have tax structures like this, and UK companies operating in the US do too.' Photograph: Olivia ...
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George Osborne warned by IMF that cuts pose headwinds to growth
George Osborne was on Wednesday urged by the International Monetary Fund to rethink his plans for a 10bn tax-and-spending squeeze this year, as part of a broad based attack on the coalition's economic policies.After a fortnight's fact-finding mission in London, the Washington-based lender warned that the planned package of spending cuts and tax rises would "pose headwinds" to ...
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Whitmans Work Continues Hewlett-Packard Rallies After Earnings Beat Outlook
reported second-quarter earnings that beat the Street's consensus estimate Wednesday, despite falling 11% from a year ago. Earnings per share of 87 cents were above HP's outlook for 80-82 cents and the 81 cents analysts anticipated. Net revenue of $27.6 billion was 10% below the prior year (9% when excluding currency impacts). Despite the declines, HP threw off $3.6 billion in cash, ...
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NJ Cheap Booze Sold as Premium Liquor
New Jersey officials have seized inventory and demanded records from 29 bars and restaurants that allegedly sold low-quality liquor to patrons who thought they were buying premium ...
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HP Earnings Outlook Top Expectations
Hewlett-Packard reported fiscal second-quarter earnings excluding items of 87 cents a share on revenue of $27.58 billion. Analysts were expecting earnings of 81 cents per share on revenue of $28.01 billion, according to estimates from Thomson Reuters. For the fiscal third quarter, HP said it expects earnings of 84 to 87 cents a share vs. expectations of 83 cents a share.For the full year, HP ...
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Stanford Art Collection $2.9 Million for Victims
Former billionaire Allen Stanford, convicted last year of running one of the biggest investment frauds in history, had particularly expensive tastes in art. Wednesday in Dallas, an auction of some of his most prized possessions brought in just over $2.9 million. The proceeds are to be turned over to victims of the $7 billion scam, who thus far have recovered next to nothing. ...
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Refuse to Testify Youre Fired
Lois Lerner, the IRS official who headed the division that targeted Tea Party and other conservative groups for special tax scrutiny, invoked her Fifth Amendment right to refuse questions before Congress on Wednesday. The decision could cost her her job.And it doesn't mean that she won't be forced to answer questions. In fact, it's relatively easy for Congress to force her to ...
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US STOCKS-Wall St falters in volatile session on Fed worries
Wed May 22, 2013 4:25pm EDT * Dow, S&P both rise and fall more than 1 pct in same trading day * FOMC minutes show members open to tapering, disagreement on conditions * Bernanke touts benefits of Fed easing, but hints could act * Dow off 0.5 pct, S&P off 0.8 pct, Nasdaq off 1.1 pct By Angela Moon NEW YORK, May 22 (Reuters) - U.S. stocks fell on Wednesday with the S&P 500 posting its biggest ...
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Wall Street declines after Fed releases minutes
Source: Reuters US stocks have fallen, with a selloff accelerating in late afternoon trade, after minutes from the latest US Federal Reserve meeting showed some officials were open to tapering large-scale asset purchases as early as at the June meeting. The minutes followed comments from Chairman Ben Bernanke who said the Fed could decide to scale back the pace of bond purchases at one of ...
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Exxon Mobil Sued For Anti-Gay Employment Discrimination
There are still 29 states where a person can be fired for being gay, but Illinois is not one of them. Nevertheless, it seems that Exxon ...
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QA Microsoft Veep Phil Harrison Talks Xbox One Used Games Always-On and More
REDMOND, Washington — After Microsoft revealed the brand-new Xbox One console to the world yesterday, a common reaction wasn’t one of amazement or eagerness, but confusion. Since most of the presentation showcased fantasy football, Skype, and multimedia applications, anyone wanting to hear about games was left hungry for details. Wired sat down with Microsoft corporate vice ...
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Bob Lutz Chinese parts maker offer $20 million for Fisker sources
Wanxiang and VL Automotive are looking to buy Fisker, which has not built a car since July, through a prepackaged bankruptcy deal. A separate team of investors is looking to buy out the U.S. Department of Energy's position in ...
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PepsiCo rethinks U.S. pricing to attract more everyday buyers
The strategy, which PepsiCo refers to as "hybrid everyday value," involves narrowing the gap between soda prices on holidays and regular days. It aims to lessen the discounts on holidays, when a 12-pack of 12-ounce cans can cost as little as $2.50 to $3, and lower prices throughout the rest of the year, when the same package can cost as much as ...
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After Hours Hewlett-Packard in focus after hours
SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. shares will be in focus after hours Wednesday as the computer maker reports fiscal second-quarter ...
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The Wall Street cicada index
Super Bowl to predict stock market returns, why not a plague of locusts? There are already goldbugs, so why not bug bugs? Standard & Poor's market-data guru Howard Silverblatt agrees. When MarketWatch called to sound him out this morning, it turned out he'd already thought to check out the cicada market theory and had been pleasantly surprised by the results. Of course, that ...
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H-P earnings drop but beat Street estimates
SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. said Wednesday afternoon that earnings fell 32% for its second fiscal quarter, though the adjusted bottom line beat Wall Street's estimates. For the period ended April 30, ...
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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