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Study: Phone co customer satisfaction evens out

May 15, 2012

By PETER SVENSSON, Associated Press

NEW YORK (AP) — A study of customer satisfaction at the Big 4 wireless carriers finds no significant difference between them. That's because of improvements in customer service at Sprint Nextel Corp. and AT&T Inc.

The American Customer Satisfaction Index puts ...

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With Avon not calling, Coty slams the door

May 14, 2012

NEW YORK (AP) — Avon shares plunged 14 percent in premarket trading Tuesday after Coty dropped its $10.7 billion takeover bid for the cosmetics company.

Coty Inc., a privately held rival, had raised its original offer last week by about 6.5 percent, but set a deadline of Monday for the company to ...

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West Coast spike in gas prices tied to refineries

May 14, 2012

By STEVEN DuBOIS, Associated Press

PORTLAND, Ore. (AP) — Motorists across most of the country have been getting a break on the price of gas, but not on the West Coast.

The average price for a gallon of regular gasoline in Oregon was $4.17 Monday, up 16 cents from last week. The average was $4.20 ...

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Best Buy Chairman steps down after CEO probe

May 14, 2012

By MAE ANDERSON, Associated Press

NEW YORK (AP) — Best Buy's founder Richard Schulze is stepping down as chairman of the beleaguered consumer-electronics chain after the company's investigation revealed that he failed to alert the board of directors when he learned that the CEO was having an ...

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No sign of shareholder revolt against Dimon

May 14, 2012

By PALLAVI GOGOI, Associated Press

NEW YORK (AP) — JPMorgan Chase CEO Jamie Dimon owned up to stock analysts and went on TV to accept blame for a $2 billion trading mistake. Next he faces shareholders, who are considerably less wealthy since the blunder was disclosed.

While Dimon may be greeted ...

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Revolving door: Yahoo ushers out another CEO

May 14, 2012

By MICHAEL LIEDTKE, Associated Press

SAN FRANCISCO (AP) — Yahoo still has credibility issues, even after casting aside CEO Scott Thompson because his official biography included a college degree that he never received.

The troubled Internet company's next challenge will be convincing its restless ...

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Larry Kramer named publisher of USA Today

May 14, 2012

MCLEAN, Va. (AP) — Gannett Co. has named media industry veteran Larry Kramer as USA Today's new president and publisher.

Kramer is replacing David Hunke, who announced last month that he will become chairman of the newspaper until September, when he retires.

Kramer, 62, has four decades of ...

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Yahoo soap opera features new cast of leaders

May 14, 2012

By MICHAEL LIEDTKE, Associated Press

SAN FRANCISCO (AP) — Yahoo's dysfunctional turnaround efforts have morphed into a Silicon Valley soap opera, one that has taken another strange twist with the Internet company's ousting of CEO Scott Thompson just four months after his arrival.

Thompson's hasty ...

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Groupon reports smaller 1Q loss, higher revenue

May 14, 2012

By BARBARA ORTUTAY, Associated Press

NEW YORK (AP) — Signaling a change of fortunes, online deals company Groupon Inc. posted a smaller net loss and sharply higher revenue in the first quarter, helped by increased demand from a growing customer base.

Its revenue surpassed Wall Street's ...

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Yahoo sends CEO packing without severance package

May 14, 2012

SAN FRANCISCO (AP) — Yahoo ended Scott Thompson's four-month stint as its CEO without giving him a severance package, according to documents filed Monday.

Thompson, 54, left Sunday in a management shake-up triggered by inaccurate information in his official biography. He would have been entitled ...

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Senate nears vote on Export-Import Bank renewal

May 14, 2012

WASHINGTON (AP) — The Senate is nearing a final vote on legislation to reauthorize the Export-Import Bank for three years and raise its lending cap from the current $100 billion to $140 billion.

Senate Majority Leader Harry Reid said the Senate would take up five Republican amendments before ...

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Mid-Atlantic wind transmission line clears hurdle

May 14, 2012

By MATTHEW DALY, Associated Press

WASHINGTON (AP) — A huge underwater power line to serve wind farms planned off the East Coast cleared a regulatory hurdle Monday, although construction is still years away.

The project, known as the Atlantic Wind Connection, would enable up to 7,000 megawatts of ...

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BPI laying off 86 after 'pink slime' controversy

May 14, 2012

By GRANT SCHULTE, Associated Press

LINCOLN, Neb. (AP) — The maker of the beef product dubbed "pink slime" by critics said Monday it was laying off 86 employees from its corporate office in South Dakota, citing what it calls a misinformation campaign about a product that food-industry experts agree ...

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Greek negotiations over govt to continue

May 14, 2012

By NICHOLAS PAPHITIS, Associated Press

ATHENS, Greece (AP) — Marathon efforts to break Greece's post-electoral paralysis are lurching into a ninth day amid the country's worst crisis in decades, with fractious party leaders summoned to a yet another emergency meeting Tuesday that could see the ...

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French trial opens in diabetes-diet drug scandal

May 14, 2012

NANTERRE, France (AP) — Lawyers for a French pharmaceutical group suspected in the deaths of at least 500 people argued Monday that a trial against their client should be halted as two separate cases should be rolled into one before the court can proceed.

The trial of Servier on charges of ...

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Stocks, euro drop as deadlock continues in Greece

May 14, 2012

By MATTHEW CRAFT, Associated Press

NEW YORK (AP) — A political stalemate in Greece rattled financial markets worldwide on Monday, driving U.S. stocks lower.

The euro sank to a three-month low against the dollar and borrowing costs for Spain and Italy jumped as bond traders anticipated that ...

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Wireless startup LightSquared files for bankruptcy

May 14, 2012

By PETER SVENSSON, Associated Press

NEW YORK (AP) — LightSquared Inc., which hoped to create an independent wireless broadband network in the U.S., filed for bankruptcy protection on Monday.

Regulators blocked its plan this winter because of concerns that its transmissions would interfere with ...

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Oil down slightly, nears $94 per barrel

May 14, 2012

By CHRIS KAHN, Associated Press

NEW YORK (AP) — The price of oil is down slightly as Europe managed to avoid falling into recession thanks to slight economic growth in Germany.

Benchmark West Texas Intermediate crude gave up 56 cents to $94.23 per barrel in New York while Brent crude added 46 ...

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Residential Capital seeks Chapter 11 protection

May 14, 2012

By TOM KRISHER, Associated Press

DETROIT (AP) — The U.S. government is hoping that Monday's bankruptcy filing by Ally Financial Inc.'s troubled mortgage business will help the company repay its government bailout faster.

Residential Capital LLC, or ResCap, filed for Chapter 11 bankruptcy ...

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Sen. McCain: US slow to seek trade pacts in Asia

May 14, 2012

By MATTHEW PENNINGTON, Associated Press

WASHINGTON (AP) — Republican Sen. John McCain called for the Obama administration to ramp up its free trade agenda in Asia and suspend U.S. economic sanctions on Myanmar, although retain an arms embargo.

Describing the administration's record on trade as ...

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