Business News
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CBS 4Q results fall short of expectations
Tweet Share on Facebook 6:57PM February 14, 2013 CommentLOS ANGELES (AP) — Broadcaster CBS Corp. said Thursday that revenue and earnings grew modestly in the final quarter of the year, helped by the U.S. presidential election and a growing economy.
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Filing shows Icahn holds stake in Herbalife
Tweet Share on Facebook 6:29PM February 14, 2013 CommentThe divide between billionaire investors Carl Icahn and William Ackman is getting deeper.
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J&J again recalls thousands of faulty hip implants
Tweet Share on Facebook 6:00PM February 14, 2013 CommentTRENTON, N.J. (AP) — Johnson & Johnson has again recalled thousands of its hip implants, 2 1/2 years after the problem-plagued health care giant issued a recall of two other types of its artificial hips.
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Corona-Bud revise deal to appease regulators
Tweet Share on Facebook 5:45PM February 14, 2013 CommentNEW YORK (AP) — Anheuser-Busch InBev changed the terms of its proposed $20.1 billion acquisition of Mexican brewer Grupo Modelo Thursday in an attempt to push through a deal that federal regulators say will kill competition.
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Many flood insurance claims languish after Sandy
Tweet Share on Facebook 5:36PM February 14, 2013 CommentNEW YORK (AP) — Up and down the Atlantic coast, people are telling horror stories about how long it has taken to get an insurance check for flood damage caused by Superstorm Sandy. Nearly 40 percent are still waiting for the final settlements they desperately need to rebuild.
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Sharp fall in US jobless claims boosts outlook
Tweet Share on Facebook 5:23PM February 14, 2013 CommentWASHINGTON (AP) — The outlook for the U.S. job market is brightening after a government report showed a sharp drop in the number of Americans applying for unemployment benefits.
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Airline merger could squeeze some hub airports
Tweet Share on Facebook 5:21PM February 14, 2013 CommentCHICAGO (AP) — A merged American Airlines and US Airways will carry more passengers around the world than any other, but even the biggest airline flying doesn't need eight hub airports on the ground.
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Merck settles investor suits on cholesterol drugs
Tweet Share on Facebook 5:20PM February 14, 2013 CommentTRENTON, N.J. (AP) — Merck & Co. has agreed to pay $688 million to settle two long-running lawsuits brought by investors who alleged the drugmaker delayed releasing bad news on its blockbuster cholesterol drugs to prevent a drop in sales.
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GM turns 2012 profit despite losses in Europe
Tweet Share on Facebook 5:12PM February 14, 2013 CommentDETROIT (AP) — General Motors has strung together a tidy three-year run of profits by making big dollars in its backyard.
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Stock market wavers as Europe's economy slows
Tweet Share on Facebook 4:40PM February 14, 2013 CommentNEW YORK (AP) — Renewed worries about Europe overshadowed an encouraging U.S. jobs report on Thursday, leaving major stock indexes roughly where they started.
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Horsemeat: French company blamed, UK arrests
Tweet Share on Facebook 4:37PM February 14, 2013 CommentPARIS (AP) — The price, smell and color should have been clear tipoffs something was wrong with shipments of horsemeat that were fraudulently labeled as beef, French authorities said Thursday. The government pinned the bulk of the blame on a French wholesaler at the heart of a growing scandal in Europe.
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Eurozone recession deepens as Germany falters
Tweet Share on Facebook 4:26PM February 14, 2013 CommentBERLIN (AP) — It was only a matter of time. With many of its debt-ridden euro partners in recession, Germany could only swim against the tide for so long.
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Heinz becomes perfect side to Buffett's deals
Tweet Share on Facebook 4:23PM February 14, 2013 CommentOMAHA, Neb. (AP) — Billionaire Warren Buffett remains happiest while hunting for deals like Thursday's $23.3 billion acquisition of the maker of Heinz ketchup his Berkshire Hathaway Inc. is helping finance.
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Stocks waver as Europe's economy slows
Tweet Share on Facebook 4:13PM February 14, 2013 CommentNEW YORK (AP) — Stocks are ending little changed on Wall Street as a slowdown in Europe's economy overshadowed an encouraging report on the U.S. jobs market.
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Oil rises above $97 per barrel
Tweet Share on Facebook 3:30PM February 14, 2013 CommentNEW YORK (AP) — The price of oil rose above $97 per barrel Thursday, reversing Wednesday's small drop.
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Ex-Stanford execs get 20 years for $7B swindle
Tweet Share on Facebook 3:27PM February 14, 2013 CommentHOUSTON (AP) — The last two defendants convicted for helping disgraced financier R. Allen Stanford bilk investors out of more than $7 billion in one of the biggest Ponzi schemes in U.S. history were each sentenced to 20 year prison terms by a federal judge on Thursday.
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Merger activity stirs on Wall Street
Tweet Share on Facebook 3:20PM February 14, 2013 CommentNEW YORK (AP) — Companies are buying each other again.
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Where Have All the Foreclosures Gone?
Tweet Share on Facebook 2:49PM February 14, 2013 Comment
MIAMI - SEPTEMBER 16: A Bank Owned sign is seen in front of a foreclosed home on September 16, 2010 in Miami, Florida. RealtyTrac, an online marketplace for foreclosure properties, released its U.S. Foreclosure Market Report for August 2010, which shows foreclosure filings - default notices, scheduled auctions and bank repossessions - were reported on 338,836 properties in August, a 4 percent increase from the previous month.
Not long after the national mortgage settlement was announced, I warned clients that the training wheels would come off and foreclosures would ramp up again.
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Study: Fish in drug-tainted water suffer reaction
Tweet Share on Facebook 2:18PM February 14, 2013 CommentBOSTON (AP) — What happens to fish that swim in waters tainted by traces of drugs that people take? When it's an anti-anxiety drug, they become hyper, anti-social and aggressive, a study found. They even get the munchies.
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Coach's longtime CEO Frankfort to give up title
Tweet Share on Facebook 2:03PM February 14, 2013 CommentNEW YORK (AP) — Coach's longtime CEO Lew Frankfort, who transformed what had been a small leather goods business into a global luxury brand, will step aside next year.
