Business News
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Apple Tax-Dodging Hearing, in Five Quotes
Tweet Share on Facebook 2:59PM May 21, 2013 Comment
Sen. Carl Levin, D-Mich., holds up his own Apple iPhone as he presses Apple CEO Tim Cook for answers about how Apple diverts a billion dollars to an Irish subsidiary as a tax strategy.
Don't want to watch hours of hearing footage? Here's what you missed.
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Stricken Japan nuke plant struggles to keep staff
Tweet Share on Facebook 4:19AM May 23, 2013 CommentTOKYO (AP) — Keeping the meltdown-stricken Fukushima nuclear plant in northeastern Japan in stable condition requires a cast of thousands. Increasingly the plant's operator is struggling to find enough workers, a trend that many expect to worsen and hamper progress in the decades-long effort to safely decommission it.
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Birth control coverage up for federal appeal
Tweet Share on Facebook 3:49AM May 23, 2013 CommentDENVER (AP) — Contraception coverage by for-profit companies faces a prominent test in Denver.
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IMF head Lagarde in court in fraud probe
Tweet Share on Facebook 3:33AM May 23, 2013 CommentPARIS (AP) — International Monetary Fund chief Christine Lagarde has appeared at a special Paris court to face questioning over a controversial arbitrage deal that she oversaw as French finance minister.
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Oil falls below $94 as China manufacturing weakens
Tweet Share on Facebook 3:32AM May 23, 2013 CommentBANGKOK (AP) — The price of oil fell below $94 per barrel Thursday after a private survey showed manufacturing activity in China falling to its lowest level in seven months, a sign that the recovery in the world's No. 2 economy is fading.
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Between economy and trouble, Obama approval steady
Tweet Share on Facebook 3:13AM May 23, 2013 CommentWASHINGTON (AP) — The economy is recovering, the White House is dealing with multiple controversies, and President Barack Obama appears generally unaffected either way.
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Japan bond yields jump following Fed comments
Tweet Share on Facebook 2:33AM May 23, 2013 CommentTOKYO (AP) — Yields on 10-year Japanese government bonds briefly topped 1 percent for the first time in a year on Thursday, unnerving some investors at a time when Japan's already overburdened government finances are vulnerable to rises in interest rates. Japanese shares fell sharply.
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Asia stocks slide as China factory output slips
Tweet Share on Facebook 12:48AM May 23, 2013 CommentBANGKOK (AP) — Asian stock markets slid Thursday, pulled down by a contraction in China's manufacturing that adds to signs that the shaky recovery in the world's No. 2 economy is slowing.
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Ford to end auto production in Australia in 2016
Tweet Share on Facebook 11:20PM May 22, 2013 CommentSYDNEY (AP) — Ford Motor Co. said Thursday it will close its two Australian auto plants, ending production in the country in 2016, amid soaring manufacturing costs and plummeting sales.
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A divided Fed wrestles with when to slow bond buys
Tweet Share on Facebook 4:50PM May 22, 2013 CommentWASHINGTON (AP) — The Federal Reserve is torn over when to slow its aggressive efforts to stimulate the economy.
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Tesla uses stock, note sale to repay government
Tweet Share on Facebook 4:41PM May 22, 2013 CommentDETROIT (AP) — Electric car maker Tesla Motors says it has repaid a loan from the U.S. government nine years early.
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FDA panel backs experimental Merck insomnia drug
Tweet Share on Facebook 4:39PM May 22, 2013 CommentWASHINGTON (AP) — A federal panel of medical experts says that an experimental insomnia drug from Merck & Co Inc. appears safe and effective, despite evidence from company trials that the pill can cause daytime sleepiness and difficulty driving.
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HP's slumps deepens in 2Q as earnings fall 32 pct
Tweet Share on Facebook 4:23PM May 22, 2013 CommentSAN FRANCISCO (AP) — 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.
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Stocks fall on news Fed weighed cutting stimulus
Tweet Share on Facebook 4:10PM May 22, 2013 CommentNEW YORK (AP) — Stocks are closing lower on news that several Federal Reserve policymakers favored cutting back on stimulus programs as early as June if the economy continues to improve.
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Fiat Industrial aims to shift tax home to Britain
Tweet Share on Facebook 2:57PM May 22, 2013 CommentMILAN (AP) — Fiat Industrial disputed as "absolutely false" reports Wednesday that Italy would lose 500 million euros ($646 million) in tax revenues if it moves its tax base to Britain after it completes a merger with its U.S.-based subsidiary CNH Global NV.
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Fed weighed slowing its pace of bond purchases
Tweet Share on Facebook 2:01PM May 22, 2013 CommentWASHINGTON (AP) — Several Federal Reserve policymakers this month favored slowing the Fed's efforts to maintain record-low long-term interest rates as early as summer — if the economy showed strong and sustained growth. But those officials appeared at odds over what evidence would demonstrate such gains.
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House takes up GOP bill to speed pipeline approval
Tweet Share on Facebook 1:20PM May 22, 2013 CommentWASHINGTON (AP) — The House has taken up a Republican-sponsored bill that would speed approval of the proposed Keystone XL oil pipeline from Canada to Texas.
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'BOOM TOWN BABY': African stock markets see gains
Tweet Share on Facebook 12:20PM May 22, 2013 CommentNAIROBI, Kenya (AP) — The barrage of hourly tweets sent out by Aly-Khan Satchu — East Africa's version of CNBC's Mad Money host Jim Cramer — cheers on what Satchu says is a growing sentiment among investors: If you're not investing in Africa, you should be. Or as Satchu loudly proclaims on his Twitter feed or newspaper column: "ITS BOOM TOWN BABY."
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Feds open special inspection into NC nuke plant
Tweet Share on Facebook 11:59AM May 22, 2013 CommentRALEIGH, N.C. (AP) — Federal regulators said Wednesday that they are conducting a special inspection of a nuclear power plant outside North Carolina's capital city that was forced to shut down last week after operators discovered corrosion and cracking in the reactor vessel's covering.
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Stocks rise on Fed stimulus hopes, home sales
Tweet Share on Facebook 11:48AM May 22, 2013 CommentNEW YORK (AP) — Stocks are moving higher Wednesday after Federal Reserve Chairman Ben Bernanke said it was too soon for the central bank to pull back on its economic stimulus programs.
