Latest Breaking Business News
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Japan Bond Yields Spike – 10-Year Now at 1
Japanese government bond (JGB) yields soared to 1 percent on Thursday, their highest level in a year, prompting the Bank of Japan to hold true to its promise of taking action to stabilize an incredibly volatile bond market. Analysts expected the market volatility to last for a while, but added that buying by domestic pension funds and the central bank should help keep a lid on yields. Benchmark ...
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AIG eyes new director with regulatory experience
AIG.N ) board is looking for a new director with regulatory experience, as the insurer readies for the government to classify it as big enough to merit greater scrutiny, according to two sources familiar with the ...
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Nissan to recall 841000 vehicles due to steering wheel glitch
7201.T ) will recall about 841,000 vehicles worldwide including the Micra compact car, also known as the March, as a result of a steering wheel glitch, Japan's No.2 automaker said on ...
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BRIEF-Lloyds says St James Place divestment to raise 450 mln stg
LONDON | Thu May 23, 2013 2:09am EDT LONDON May 23 (Reuters) - Lloyds Banking Group PLC : * Placing of shares in st james's place plc * Gross proceeds of the placing are approximately 450 million * Settlement of placing will take place on 29 may. on completion, Lloyds will hold 110 million st james's place ...
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Lenovo shares jump more than 4 percent after earnings beat forecast
Reuters © A convertible Lenovo Ultrabook is displayed at an Intel news conference during the Consumer Electronics Show (CES) in Las Vegas January 7, 2013. REUTERS/Steve ...
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Path says ‘eye’ do
Get a look at what could be the most expensive catering hall in the world.The $3.74 billion World Trade Center PATH terminal - a Santiago Calatrava-designed centerpiece known as the Oculus - will be rented out for such events as charity fundraisers, art shows and, yes, maybe even weddings, The Post has learned.The eye-shaped, multistory space - so large it can fit two-and-a-half Grand Central ...
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CEO median salary $9.7M
The head of a typical large public company made $9.7 million in 2012, a 6.5 percent increase from a year earlier, aided by a rising stock market, according to an analysis of data from Equilar. CEO pay, which rose 6 percent in 2011, has never been higher.Pay for all US workers rose 1.6 percent in 2012, not enough to keep up with inflation. The median US wage was $39,900 in 2012, according to the ...
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Ratner puck luck ploy
Barclays Center owner Bruce Ratner is trying to defend against a power play.The developer, who hopes to bring six New York Islanders games a season to a slimmed-down Nassau Coliseum once the team moves to Brooklyn, said he doesn’t think Madison Square Garden can block the move."I don’t think it requires [MSG’s] approval," Ratner told Fox Business Network yesterday. ...
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Restructuring Ross now headed for trial
Billionaire Wilbur Ross is famous for restructuring failing companies - but shareholders say he crossed a line when it came to bailing out one of his own bad investments.Nearly four years after it was brought, a lawsuit accusing the legendary founder of New York-based WL Ross & Co. of double dealing and breach of fiduciary duty is headed to trial.A South Carolina state judge last week ...
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Twitter ups its security
Twitter is adding an extra security measure to prevent unauthorized log-ins.The microblogging service said yesterday that users will be able to enroll in a log-in verification program. Twitter will send a six-digit code using a text message each time the user signs in to Twitter.com. Besides their username and password, users will have to enter the code to log ...
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HP beats the Street
Hewlett-Packard raised its 2013 earnings outlook after beating expectations, as CEO Meg Whitman’s turnaround plan shored up profits and offset shrinking PC sales with enterprise computing services.Fiscal second quarter profit fell 32 percent, less than feared. Shares gained 14 percent, or $2.86, to $24.09, in extending trading after HP projected full-year earnings per share of $3.50 to ...
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Bloomberg checked out flacks for flak
Bloomberg LP, as its Spygate scandal spilled across papers around the world, sought professional help, The Post has learned.The data company weighed hiring crisis p.r. consultants, sources said.Bloomberg reached out to at least one New York-based external communications firm to get help addressing reports that its reporters were using its ubiquitous Wall Street terminals to spy on clients, the ...
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Clearwire board call for Sprint
Clearwire’s board recommended Sprint Nextel’s higher takeover bid of $3.40 a share, or about $2.5 billion, saying it’s the best offer available to the struggling wireless-service provider.The bid, which Sprint boosted from $2.97 a share, tops a $3.30 contender from Dish Network. After the terms were changed, Clearwire rescheduled the shareholders’ vote until a week from ...
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Tumblr spins $13M into $192M for lucky VCs
Tumblr’s $1.1 billion purchase by Yahoo! returned $192 million to two of its biggest venture backers, a person familiar with the matter said, disputing an estimate by PrivCo. Spark Capital and Union Square Ventures invested $13 million apiece, according to the source. That represents about a 15-fold return for Spark, based in Boston, and Union Square, in New York. PrivCo, which earlier ...
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Saks shares spike on heels of sale scoop
For Saks investors, it’s like the financial crisis never happened.Shares in the owner of Saks Fifth Avenue spiked 13 percent yesterday, after The Post first reported late Tuesday that the luxury retailer had hired Goldman Sachs to explore options, including a possible sale of the company.The stock gained $1.83 yesterday to settle at $15.50 after hitting an intraday high of $16.17 - the ...
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Farmers Demand GrainCorp Sell Assets Ahead of ADM Takeover
Australian farmers have written to the government demanding the sale of some GrainCorp Ltd. (GNC.AU) assets as a condition to its takeover by Archer Daniels Midland Co. (ADM), fearing the U.S. grain giant could squeeze the few remaining competitors out of the market.GrainCorp late last month accepted a sweetened A$3.4 billion (US$3.3 billion) takeover offer from ADM. The deal--ADM's largest ...
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China Construction Bank Buys Stake in Russian Bank
China Construction Bank Corp. (0939.HK), China's second-largest bank by assets, said Thursday that it purchased a $100 million stake in Russia's VTB Bank (VTBR.RS).The Chinese bank said in a statement on its website that it bought the newly issued shares in the Russian bank through a placement.The state-controlled Russian bank's share offer raised about $3.3 billion, China ...
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Berkshire Seeks ResCap Ally Financial Report
Berkshire Hathaway Inc. (BRKA) wants an independent examiner's report on dealings between mortgage company Residential Capital LLC and its government-owned parent Ally Financial Inc. released.Berkshire Hathaway says the report's findings can help it determine if a bankruptcy settlement involving the companies is fair. ResCap creditors including Berkshire want to see the report because ...
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Pfizer takes its shot at a vaccine for evasive superbug
Kathrin Jansen, senior vice president of Vaccine Research and Early Development at Pfizer Inc, poses for a portrait in one of her labs at Pfizer headquarters in Pearl River, New York, April 19, ...
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Exxon Mobil accused of anti-gay bias
The complaint, filed Wednesday with the Illinois Department of Human Rights by Freedom to Work, said Exxon was sent two nearly identical resumes for an opening in Illinois. The only major differences: one applicant made clear she was a gay-rights activist, and had higher grades than the other ...
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Ford grows in America shrinks in Australia
Ford Motor Co. is adding production, and 3,500 jobs, in North America as it tries to keep up with Americans’ appetite for new cars and trucks. But the automaker will end production in Australia, cutting 1,200 jobs by 2016, as high costs left it unable to ...
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Metals Stocks Gold falls after Fed talk boosts dollar
LOS ANGELES (MarketWatch) -- Gold futures fell Thursday, weighed by strength in the U.S. dollar after the head of the U.S. Federal Reserve indicated the central bank could start tapering stimulus efforts in the coming ...
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In a 3 a.m. vote Raytown gives green light to downtown Wal-Mart grocery store
After meeting for about seven and a half hours, the Raytown Board of Aldermen voted 6-4 early Wednesday to allow a change that paves the way for a Wal-Mart grocery store in its ...
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Ignore Fed Hawks Bernanke in Driving Seat
Federal Reserve Chairman Ben Bernanke would not risk a premature withdrawl of the stimlus that has underpinned the U.S. economic recovery, former vice chairman of the Fed Alan Binder told CNBC. In a testimony to Congress on Wednesday, Bernanke sounded a dovish tone, remarking that the premature tightening of monetary policy carries a "substantial risk" of slowing the economic recovery. ...
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Hackers Find China Is Land of Opportunity
Name a target anywhere in China, an official at a state-owned company boasted recently, and his crack staff will break into that person's computer, download the contents of the hard drive, record the keystrokes and monitor cellphone communications, too. Pitches like that, from a salesman for Nanjing Xhunter Software, were not uncommon at a crowded trade show this month that brought together ...
San Francisco Focus
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Hunter's Point redevelopment going forward
Hunter’s Point and the redevelopment project for the idle shipyard may or may not see a neglected part of the city transformed into a upward moving residential and commercial suburb, but the effort will be a long and costly process.
The Hunter’s Point project is an ambitious plan to redevelop a former naval shipyard and make it one of the premier residential and commercial areas of the city of San Francisco, it will cost a fortune at a time when housing prices are down and will throw up many hurdles for the company, Lennar Corporation, undertaking the project. Read more
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