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RBS loss widens but CEO claims progress

May 4, 2012

LONDON (AP) — Part-nationalized Royal Bank of Scotland achieved some milestones in its recovery in the first quarter, its chief executive said Friday as the bank reported another big loss.

CEO Stephen Hester said RBS would finish repaying 75 billion pounds ($121 billion) of government-backed loans ...

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Emissions Rise As Japan Shuts Down Nuclear Power

May 4, 2012

By MALCOLM FOSTER, Associated Press

TOKYO (AP) — The Fukushima crisis is eroding years of Japanese efforts to reduce greenhouse gas emissions blamed for global warming, as power plants running on oil and natural gas fill the electricity gap left by now-shuttered nuclear reactors.

Before last year's ...

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Asset sale lifts BNP Paribas' Q1 earnings

May 4, 2012

PARIS (AP) — French bank BNP Paribas said Friday a gain on the sale of its property arm helped lift first quarter earnings, despite difficulties at its corporate and investment banking arm.

France's largest bank said it made €2.87 billion ($3.77 billion) in the first quarter, up 9.6 percent from a ...

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Geithner calls China currency reforms promising

May 3, 2012

By CHRISTOPHER BODEEN, Associated Press

BEIJING (AP) — U.S. Treasury Secretary Timothy Geithner told President Hu Jintao on Friday that China's moves toward a more market-oriented exchange rate are "very promising" and said economic relations are improving despite occasional tensions.

Geithner,

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Stocks down as focus turns to payroll figures

May 3, 2012

By PAN PYLAS, Associated Press

LONDON (AP) — Markets were on edge Friday after U.S. jobs figures pointed to a sluggish recovery in the world's largest economy and amid unease over how weekend elections in France and Greece will affect the way Europe deals with its debt problems.

Stocks were ...

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LinkedIn to buy SlideShare as 1Q beats Street

May 3, 2012

MOUNTAIN VIEW, Calif. (AP) — LinkedIn Corp. said Thursday that its first-quarter profit more than doubled, and the business networking company is buying presentation sharing website SlideShare for $118.8 million.

Shares jumped $9.29, or more than 8 percent, to $118.70 in extended trading. If that ...

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Facebook valued at up to $95B in IPO price range

May 3, 2012

By BARBARA ORTUTAY, Associated Press

NEW YORK (AP) — Facebook, the company that turned the social Web into a cultural and business phenomenon, is worth as much as $95 billion, according to the price range for its upcoming initial public offering of stock.

Facebook's IPO, expected in a couple of ...

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Hawker Beechcraft files for bankruptcy protection

May 3, 2012

By ROXANA HEGEMAN, Associated Press

WICHITA, Kan. (AP) — Hawker Beechcraft filed for bankruptcy protection Thursday in the latest blow to Wichita's beleaguered aircraft industry, with the company saying it had reached an agreement with many creditors on a plan to restructure its debt.

Hawker ...

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First Solar restructuring leads to loss of $449M

May 3, 2012

By JONATHAN FAHEY, Associated Press

NEW YORK (AP) — A shakeout that is rattling the solar panel industry has sent First Solar, once among the industry's biggest and strongest companies, to a big quarterly loss.

First Solar Inc. said Thursday that it lost $449 million in the first quarter, mostly ...

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AIG posts $3.2B profit in 1Q, up more than twofold

May 3, 2012

By ALEX VEIGA, Associated Press

LOS ANGELES (AP) — Insurer American International Group, which came close to collapsing during the financial crisis before being bailed out by the federal government, said Thursday that its profit grew more than twofold in the first quarter.

AIG reported that its ...

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UPS shrinks buyback plan to use cash for TNT offer

May 3, 2012

By JOSHUA FREED, Associated Press

UPS said it will shrink its planned share buybacks, freeing up cash for its plan to buy Dutch rival TNT Express.

The new plan from UPS will cut $2 billion from what UPS needs to borrow for the deal. Its original plan to borrow $3.8 billion for the deal had ...

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Investors say Berkshire will endure after Buffett

May 3, 2012

By JOSH FUNK, Associated Press

OMAHA, Neb. (AP) — Berkshire Hathaway shareholders make their annual pilgrimage here this weekend, and this year they have to confront an uncomfortable truth: Warren Buffett, Berkshire's CEO and the greatest celebrity in investing, can't go on forever.

Investors ...

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US economy recovering but isn't yet accelerating

May 3, 2012

By PAUL WISEMAN, Associated Press

WASHINGTON (AP) — The U.S. economy's recovery looks enduring. It's just not very strong.

Hiring, housing, consumer spending and manufacturing all appear to be improving, yet remain less than healthy. Economists surveyed by The Associated Press expect growth to ...

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Samsung reveals new flagship Galaxy smartphone

May 3, 2012

By PETER SVENSSON, Associated Press

NEW YORK (AP) — Samsung Electronics Co.'s latest Galaxy phone will have a high-definition touch screen that's nearly twice the size of the iPhone, while being thinner and lighter than Apple's phone.

The Galaxy line has emerged as the biggest competitor to the ...

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North America boosts GM's first-quarter results

May 3, 2012

By DEE-ANN DURBIN and TOM KRISHER, Associated Press

DETROIT (AP) — Strong sales in North America and China are generating big profits for General Motors. Now the company needs the rest of the world to play along.

GM's net income totaled $1 billion in the first quarter as it sold more vehicles at ...

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April retail sales worst since 2009

May 3, 2012

By ANNE D'INNOCENZIO, Associated Press

NEW YORK (AP) — Americans' spending — much like the economy — continues to yo-yo.

Major retailers such as Costco and Macy's reported on Thursday that April revenue rose less that 1 percent in the worst performance since 2009 when the U.S. economy was just ...

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US stocks fall after conflicting economic reports

May 3, 2012

By DANIEL WAGNER, Associated Press

Wall Street gnawed on a muddle of economic data and corporate earnings news Thursday, then sent stock indexes lower for a second day.

Disappointing April sales results from big retailers set the bleak tone early on. Costco, Macy's and Target, among others,

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Outgoing Nokia board chief concedes mistakes

May 3, 2012

HELSINKI (AP) — Outgoing Nokia Corp. board chairman Jorma Ollila has conceded the company made mistakes during his tenure at the helm of the cellphone maker that held the No. 1 spot for 14 years.

Ollila says Nokia cannot be satisfied with the its recent performance as it struggles in a transition ...

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U.S. Applications for Unemployment Aid Drop

May 3, 2012

By CHRISTOPHER S. RUGABER, Associated Press

WASHINGTON (AP) — The number of people seeking unemployment benefits fell last week by the most in nearly a year. The figure was a hopeful sign that hiring could pick up in coming months.

The Labor Department said Thursday that weekly unemployment ...

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Pepsi brings back Michael Jackson in promotion

May 3, 2012

By CANDICE CHOI, Associated Press

NEW YORK (AP) — PepsiCo Inc. is going on a reunion tour with The King of Pop.

The Purchase, N.Y.-based company on Thursday announced its deal with the estate of Michael Jackson to use the late pop star's image for its new global marketing push. The nature of the ...

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