Business News
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Ghost Town: London Businesses Bemoan Olympic Slump
Tweet Share on Facebook 1:45PM August 01, 2012 Comment
Olympics rings flag flies over Tower Bridge. The logo of five rings, linked to show unity between athletes on five continents, was designed in 1912 by the founder of the International Olympic Committee, Pierre de Coubertin.
LONDON (AP) — It is the best of times, it is the worst of times.
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IMF chief: European bank can do more to aid euro
Tweet Share on Facebook 1:41PM August 01, 2012 CommentWASHINGTON (AP) — International Monetary Fund chief Christine Lagarde on Wednesday urged the European Central Bank to take further steps to stabilize the eurozone's economy.
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Greece's Eurobank mulling offer for Emporiki
Tweet Share on Facebook 11:57AM August 01, 2012 CommentATHENS, Greece (AP) — Greece's Eurobank says it is considering buying Emporiki Bank, a local subsidiary of French lender Credit Agricole that at least one other Greek bank is eyeing.
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Monti faults markets for high borrowing costs
Tweet Share on Facebook 11:44AM August 01, 2012 CommentHELSINKI (AP) — Italian Premier Mario Monti slammed bond market investors Wednesday for failing to appreciate the reforms being undertaken by a number of euro countries.
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Defense Official: Cuts Hit Warfighters, Weapons
Tweet Share on Facebook 11:37AM August 01, 2012 Comment
This Sept. 7, 2011 file photo shows a U.S. Marine sweeping for land mines in the Helmand Province of southern Afghanistan. U.S. troops in Afghanistan have quietly achieved one small but important victory over the past year: They are finding and avoiding more improvised explosive devices, or IEDs, than a year ago. That's thanks to a surge in training, equipment and intelligence.
WASHINGTON (AP) — Warfighters heading to Afghanistan would receive less training while the Navy would be forced to buy fewer ships if lawmakers fail in the next five months to come up with an alternative deficit-reduction plan, a Pentagon official said Wednesday.
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U.S. Manufacturing Sector Shrank For Second Month
Tweet Share on Facebook 11:33AM August 01, 2012 Comment
Assembly line
WASHINGTON (AP) — U.S. manufacturing shrank for the second straight month in July, further evidence of an economy growing at a sluggish pace.
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Class of 2012: Europe's young pursue dreams abroad
Tweet Share on Facebook 11:26AM August 01, 2012 CommentMADRID (AP) — Santiago Oviedo, a lanky 24-year-old from Madrid, is on track to get his master's in physics in October — a crucial milestone in his dream of becoming a researcher probing the origins of the universe.
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Haribo fined $2.9 million by competition watchdog
Tweet Share on Facebook 10:59AM August 01, 2012 CommentBERLIN (AP) — Germany's competition watchdog says it has imposed a €2.4 million ($2.9 million) fine on confectionary company Haribo for improperly sharing information on sales negotiations with three rivals.
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Spanish regions rebel against deficit targets
Tweet Share on Facebook 10:52AM August 01, 2012 CommentMADRID (AP) — The president of Spanish region Andalusia led protests Wednesday against central government attempts to control the spending of the country's 17 semiautonomous authorities in an outcry that threatens to undermine the ailing country's efforts to convince investors it can put its finances back in order.
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U.S. Construction Spending Rises 0.4 Percent
Tweet Share on Facebook 10:33AM August 01, 2012 Comment
A worker stands in the early-morning sunlight on a home construction project in Newtown, Pa., on June 20, 2012.
WASHINGTON (AP) — Another strong gain in homebuilding pushed U.S. construction spending up for a third straight month in June, a further indication that the battered housing industry is showing signs of life.
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Private survey: US economy added 163K jobs in July
Tweet Share on Facebook 8:47AM August 01, 2012 CommentWASHINGTON (AP) — A private survey shows U.S. businesses kept hiring at a modest pace in July, suggesting the job market could be improving after three sluggish months.
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Oil hovers above $88 as hopes fade for Fed easing
Tweet Share on Facebook 8:12AM August 01, 2012 CommentOil hovered above $88 a barrel Wednesday as hopes dimmed the Federal Reserve will announce a further loosening of monetary policy to boost the flagging U.S. economy and China's manufacturing stayed weak.
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Gulf's booming airlines forge new links abroad
Tweet Share on Facebook 6:48AM August 01, 2012 CommentDUBAI, United Arab Emirates (AP) — During a demonstration flight of Boeing's new 787 high above the United Arab Emirates this summer, one of the plane-maker's representatives jokingly asked an Etihad Airways executive what was next on the airline's shopping list.
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Dutch: unknown if Delta-Air Canada needles related
Tweet Share on Facebook 6:39AM August 01, 2012 CommentAMSTERDAM (AP) — A spokesman for Dutch police investigating how needles got into six turkey sandwiches on Delta Air Lines flights from Amsterdam to U.S. cities last month says it's too early to say whether there is any connection with a new incident on Air Canada.
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Macau casino revenue growth at slowest since 2009
Tweet Share on Facebook 6:16AM August 01, 2012 CommentHONG KONG (AP) — Casino revenue in Macau, the world's biggest gambling market, grew last month at the slowest pace since the global recession in 2009 as China's economic slowdown crimped demand from high-rolling gamblers.
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BMW earnings fall 28 percent
Tweet Share on Facebook 6:04AM August 01, 2012 CommentFRANKFURT, Germany (AP) — German luxury automaker BMW AG said earnings fell 28 percent in the second quarter due to higher costs for staff and investments in new technology and warned that a worsening of Europe's debt crisis or a slowdown in China could hurt its business.
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Italian firm Eni announces gas find off Mozambique
Tweet Share on Facebook 5:55AM August 01, 2012 CommentJOHANNESBURG (AP) — Italian oil company Eni SpA said Wednesday it discovered more natural gas off the coast of Mozambique, expanding the yield of a major field off the southeast African nation that's the company's largest find.
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Siemens builds $450 million wind farm in Australia
Tweet Share on Facebook 4:50AM August 01, 2012 CommentBERLIN (AP) — German engineering company Siemens says it has secured its first contract to build a major wind farm in Australia — a facility that will supply electricity to some 180,000 homes in the country's south.
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Dubai port firm: H1 trade volume up 7.5 percent
Tweet Share on Facebook 4:38AM August 01, 2012 CommentDUBAI, United Arab Emirates (AP) — Dubai-based port operator DP World on Wednesday said business at its docks rose 7.5 percent in the first half of the year, driven by strong gains in emerging markets.
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Apple Claims Samsung Copied iPhone Technology
Tweet Share on Facebook 3:40AM August 01, 2012 CommentSAN JOSE, California (AP) — Apple Inc. designer Christopher Stringer spent many of his 17 years at the company developing the company's iconic iPhone and iPad.
