Business News
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US unemployment aid applications rise to 365,000
Tweet Share on Facebook 10:57AM August 02, 2012 CommentWASHINGTON (AP) — The number of people seeking U.S. unemployment benefits rose last week, though the data was likely skewed higher by seasonal factors.
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No shoppers? Big Olympic crowds force mall closure
Tweet Share on Facebook 10:34AM August 02, 2012 CommentLONDON (AP) — Bad news for shoppers: Most won't be admitted to the Olympic mall the next two days unless they have a ticket to the games or come at night.
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U.S. Rate On 30-Year Mortgage Rises to 3.55 Percent
Tweet Share on Facebook 10:19AM August 02, 2012 Comment
Homes are seen in the Lago Vista area of south San Antonio.
WASHINGTON (AP) — The average U.S. rate on the 30-year fixed mortgage rose this week after falling to new record lows in each of the past 13 weeks.
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U.S. Factory Orders Fell 0.5 Percent in June
Tweet Share on Facebook 10:14AM August 02, 2012 Comment
MoneyHP-Carousel -- A car manufacturing plant
WASHINGTON (AP) — Companies placed fewer orders with U.S. factories in June from May, signaling further weakness with manufacturing.
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U.S. Stocks Slump With No Concrete Action In Europe
Tweet Share on Facebook 9:41AM August 02, 2012 Comment
MoneyHP-Carousel -- Closeup of a market board
NEW YORK (AP) — U.S. stocks are sliding after the European Central Bank failed to take any decisive action for solving the region's debt crisis.
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BNP Paribas takes investment banking knock in Q2
Tweet Share on Facebook 9:39AM August 02, 2012 CommentPARIS (AP) — A downturn in BNP Paribas' corporate and investment banking division contributed to a 13.2 percent fall in the French bank's second-quarter net profits to €1.8 billion ($2.2 billion).
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United Airlines raises round-trip fares by $10
Tweet Share on Facebook 9:13AM August 02, 2012 CommentDALLAS (AP) — For the second time in less than two weeks, major U.S. airlines are raising fares.
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Greece resumes debt talks with inspectors
Tweet Share on Facebook 9:10AM August 02, 2012 CommentATHENS, Greece (AP) — Greece's coalition government has resumed austerity negotiations with international debt inspectors, after narrowly avoiding a political crisis that officials said had threatened the country's future in the eurozone.
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Text of statement by ECB President Mario Draghi
Tweet Share on Facebook 8:58AM August 02, 2012 CommentFRANKFURT (AP) — Below is the full text of the speech that European Central Bank President Mario Draghi delivered at his press conference on Thursday.
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Hepatitis C Treatment Study Suspended
Tweet Share on Facebook 8:42AM August 02, 2012 Comment
Syringe and ampules
NEW YORK (AP) — Drugmaker Bristol-Myers Squibb Co. is suspending a midstage study of a potential hepatitis C treatment because of a serious patient safety issue.
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Bank of England holds off new economic stimulus
Tweet Share on Facebook 7:48AM August 02, 2012 CommentLONDON (AP) — The Bank of England on Thursday held its key lending rate at the all-time low of 0.5 percent for the 42nd month and announced no new stimulus measures as it monitors the impact of a recent injection of money into the economy.
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London listings magazine Time Out to go for free
Tweet Share on Facebook 7:36AM August 02, 2012 CommentLONDON (AP) — The London edition of popular listings magazine Time Out will become free in autumn to broaden its reach, its editor-in-chief said Thursday.
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Hong Kong's Hutchison says 1H profit drops 78 pct
Tweet Share on Facebook 7:07AM August 02, 2012 CommentHONG KONG (AP) — Hong Kong tycoon Li Ka-shing's conglomerate Hutchison Whampoa said Thursday that first-half profit tumbled 78 percent from the year before when results were boosted by a big one-time gain.
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S&P downgrades Cyprus deeper into junk
Tweet Share on Facebook 6:56AM August 02, 2012 CommentNICOSIA, Cyprus (AP) — Ratings agency Standard & Poor's lowered Cyprus' sovereign debt grade one notch deeper into junk territory on Thursday and warned of further downgrades over concerns that the country's troubled banks will continue to strain public finances.
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Generali profit up despite increase in claims
Tweet Share on Facebook 6:25AM August 02, 2012 CommentMILAN (AP) — Italian insurer Assicurazioni Generali on Thursday reported a 4.5 percent increase in first-half profits as growth in premiums offset higher claims from a pair of quakes in northern Italy and recessionary economic conditions in large parts of Europe.
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In Senegalese shoe capital, Chinese not welcome
Tweet Share on Facebook 6:08AM August 02, 2012 CommentNGAYE MEKHE, Senegal (AP) — It has taken generations for cobblers in this village to perfect the pointy-toed slippers once favored by local kings, and now considered an indispensable fashion accessory of well-dressed Senegalese men.
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Russia's Gazprom Neft inks deals with Iraqi Kurds
Tweet Share on Facebook 5:49AM August 02, 2012 CommentBAGHDAD (AP) — A Middle East subsidiary of Russia's Gazprom Neft has inked two oil deals with Iraq's self-ruled northern Kurdish region, becoming the fourth major oil company to enter into agreements with Iraqi Kurds that bypass the central government in Baghdad.
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Utility GDF Suez's H1 sales boosted by cold winter
Tweet Share on Facebook 5:43AM August 02, 2012 CommentPARIS (AP) — Franco-Belgian utility GDF Suez saw its revenue rise 10.6 percent in the first half of the year, driven in part by a late-winter cold snap and a particularly chilly spring in France.
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Sony's loss grows, cuts earnings forecast
Tweet Share on Facebook 5:20AM August 02, 2012 CommentTOKYO (AP) — Sony's red ink worsened in the April-June quarter and it lowered its full-year earnings forecast as it battles a strong yen and declining sales of liquid crystal display TVs and video game machines.
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Deutsche Post DHL earns fall on sales tax payment
Tweet Share on Facebook 4:39AM August 02, 2012 CommentFRANKFURT, Germany (AP) — German logistics company Deutsche Post DHL saw its profit fall 28 percent in the second quarter as a large tax bill took a chunk out of increased sales in emerging markets.
