Business News
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American plans to hire 2,500 pilots
Tweet Share on Facebook 10:42PM October 24, 2012 CommentDALLAS (AP) — The CEO of American Airlines said the company expects to hire 2,500 pilots over the next five years as it ramps up international flights.
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Zynga posts 3Q loss, shares jump after-hours
Tweet Share on Facebook 7:28PM October 24, 2012 CommentNEW YORK (AP) — Battered shares of Zynga Inc. soared in after-hours trading Wednesday after the social gaming company posted stronger-than-expected revenue for the third quarter and said it will enter the gambling business.
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Stocks stabilize on Wall Street after a sell-off
Tweet Share on Facebook 7:09PM October 24, 2012 CommentNEW YORK (AP) — The steep losses stopped Wednesday as the stock market turned calm, a day after one of its biggest sell-offs of the year. Indexes ended with slight losses after the Federal Reserve said the U.S. economy still needs support.
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NYT defends incoming chief amid BBC scandal
Tweet Share on Facebook 6:56PM October 24, 2012 CommentLONDON (AP) — The New York Times stood by its incoming chief Wednesday, even as questions about a BBC child sex abuse scandal followed him from one of Britain's most respected news organizations to one of America's.
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Ex-Goldman exec given 2 years for inside trades
Tweet Share on Facebook 6:31PM October 24, 2012 CommentNEW YORK (AP) — A former Goldman Sachs and Procter & Gamble Co. board member was sentenced to two years in prison Wednesday, culminating a spectacular fall from grace for a man whose good deeds worldwide brought him leniency after he was convicted of feeding inside information about board dealings to a billionaire hedge fund owner who was his friend.
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Corning may make job cuts as part of cost cuts
Tweet Share on Facebook 6:24PM October 24, 2012 CommentNEW YORK (AP) — Corning said Wednesday that it will likely cut costs, which may include "modest" job cuts, to support profit in a weakening economy.
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US Airways posts record 3Q profit
Tweet Share on Facebook 6:20PM October 24, 2012 CommentDALLAS (AP) — US Airways turned in a strong performance during a three-month stretch that covers much of the peak summer vacation season.
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Boeing benefits from faster airplane deliveries
Tweet Share on Facebook 6:19PM October 24, 2012 CommentBoeing is cranking out planes faster, and it's paying off.
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Wynn Resorts' 3Q profit falls on expenses
Tweet Share on Facebook 6:08PM October 24, 2012 CommentLAS VEGAS (AP) — Wynn Resorts Ltd.'s profit fell nearly 12 percent in the third quarter, as a debt-related loss boosted expenses for the casino operator.
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Delta 3Q profit surges on fuel gains
Tweet Share on Facebook 6:06PM October 24, 2012 CommentDelta Air Lines reported a billion-dollar third-quarter profit and said demand is holding up well.
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Best Buy falls on 3Q outlook, 2 execs leaving
Tweet Share on Facebook 5:57PM October 24, 2012 CommentNEW YORK (AP) — Best Buy said Wednesday two executives, including its U.S. president, are leaving the company as it eliminates the most senior level of its U.S. operations, the latest move by CEO Hubert Joly to turn around the struggling electronics chain.
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AT&T sees fewer new customers in 3Q
Tweet Share on Facebook 5:56PM October 24, 2012 CommentNEW YORK (AP) — The flow of customers into AT&T's wireless stores slowed further in the latest quarter, putting the company far behind rival Verizon Wireless.
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Prison, $7 billion fine for French rogue trader
Tweet Share on Facebook 5:22PM October 24, 2012 CommentPARIS (AP) — A former junior trader for France's second-largest bank who was ordered Wednesday to pay back a staggering €4.9 billion (about $7 billion) in damages to his ex-employer is painting himself as the victim of a financial system that runs on greed.
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US suit alleges 'brazen' fraud at Countrywide
Tweet Share on Facebook 5:10PM October 24, 2012 CommentNEW YORK (AP) — The latest federal lawsuit over alleged mortgage fraud paints an unflattering picture of a doomed lender: Executives at Countrywide Financial urged workers to churn out loans, accepted fudged applications and tried to hide ballooning defaults.
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Daimler lowers 2012 outlook as Q3 net profit slips
Tweet Share on Facebook 4:31PM October 24, 2012 CommentBERLIN (AP) — German automaker Daimler AG lowered its full-year earnings target Wednesday after its third quarter net profit declined 11 percent to €1.20 billion ($1.6 billion) from €1.36 billion a year ago.
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Obama's New Opponent: The Fiscal Cliff
Tweet Share on Facebook 4:24PM October 24, 2012 Comment
President Barack Obama spends most of his time on the campaign trail focusing on his Republican challenger, Mitt Romney. But a third-party spoiler has entered the race: the so-called fiscal cliff.
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Bailout, layoffs: New pain ahead for EU carmakers
Tweet Share on Facebook 4:17PM October 24, 2012 CommentPARIS (AP) — The extent of the European car industry's troubles was laid bare Wednesday, when France's government tossed a financial lifeline to the continent's No. 2 automaker, Peugeot Citroen, and Ford said it would shut a plant in Belgium, cutting 9,500 jobs.
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Fed cites moderate US growth, takes no new action
Tweet Share on Facebook 3:55PM October 24, 2012 CommentWASHINGTON (AP) — Two weeks before a U.S. election focused on the economy, the Federal Reserve said Wednesday that its help is still needed to increase growth and lower unemployment.
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One Month Post-QE3, Federal Reserve Maintains Status Quo
Tweet Share on Facebook 3:50PM October 24, 2012 Comment
In this Thursday, Sept. 13, 2012 file photo, Specialist David Pologruto works at his post on the floor of the New York Stock Exchange, as Federal Reserve Chairman Ben Bernanke holds a news conference in Washington, Thursday, Sept. 13, 2012. No sooner did the Federal Reserve unveil a bold plan to juice the U.S. economy than it dangled the prospect of doing even more. Investors celebrated by sending stock prices jumping. Economists were less impressed. Many wonder how much the Fed’s action would help.
The Federal Open Market Committee made no policy changes during its October meeting.
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Best Buy offers exclusive Windows 8 deals, demos
Tweet Share on Facebook 3:36PM October 24, 2012 CommentNEW YORK (AP) — Confused by Windows 8? Best Buy hopes it can help.
