Business News
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Global markets extend gains after US data
Tweet Share on Facebook 1:01PM July 27, 2012 CommentLONDON (AP) — Global markets rose Friday as U.S. economic growth figures were not as bad as some had feared and the European Central Bank chief's pledge to save the euro continued to bolster sentiment.
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Court leaves ruling against big tobacco intact
Tweet Share on Facebook 12:51PM July 27, 2012 CommentWASHINGTON (AP) — A federal appeals court on Friday left intact a court judgment that ordered tobacco companies to do corrective advertising about the dangers of smoking.
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Merck's 2Q net falls on charges, but sales rise
Tweet Share on Facebook 12:48PM July 27, 2012 CommentShares of drugmaker Merck & Co. surged to a new high for the year Friday as its second-quarter results easily beat Wall Street expectations — just as generic competition is set to start decimating sales of its top-selling medicine, Singulair.
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29 states settle Medicaid Rx drug overpayment case
Tweet Share on Facebook 12:39PM July 27, 2012 CommentSAN FRANCISCO (AP) — California and 28 other states have reached a $151 million settlement in a lawsuit alleging one of the country's largest drug wholesalers inflated prescription drug prices, costing the states' Medicaid programs millions in overpayments.
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France's Socialists take aim with new budget
Tweet Share on Facebook 12:19PM July 27, 2012 CommentPARIS (AP) — President Francois Hollande's new Socialist administration is starting to shake up French policy on whom to tax and how to spend —changes that would effectively roll back much of what ex-President Nicholas Sarkozy and his center-right government accomplished.
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6 UK bank workers sentenced for insider trading
Tweet Share on Facebook 11:21AM July 27, 2012 CommentLONDON (AP) — Six workers at London investment banks convicted of insider trading have received prison sentences ranging from 18 months to 3 ½ years for their roles in stealing confidential documents for use in spread betting.
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Poland's opposition to joining euro at record high
Tweet Share on Facebook 11:14AM July 27, 2012 CommentWARSAW, Poland (AP) — A survey shows that opposition to adopting the euro currency in Poland has reached its all-time high at 68 percent.
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Germany, France: determined to protect eurozone
Tweet Share on Facebook 11:09AM July 27, 2012 CommentBERLIN (AP) — The leaders of Germany and France added their weight to the battle to preserve the European single currency when they issued a joint statement Friday promising to do everything they can to stop the 17-country bloc from breaking up.
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Russian court orders BP to pay $3.1 billion
Tweet Share on Facebook 10:17AM July 27, 2012 CommentMOSCOW (AP) — An arbitration court in Siberia ruled Friday that British oil giant BP should pay $3.1 billion in compensation to its Russian joint venture TNK-BP over a failed attempt to form an alliance with Russian state-controlled oil company Rosneft.
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Total sees revenue rise 10 percent in first half
Tweet Share on Facebook 10:08AM July 27, 2012 CommentPARIS (AP) — French oil giant Total saw its revenue grow 10 percent in the first half of the year but falling oil prices and a series of interruptions to gas production helped push profit down 22 percent.
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Chevron 2Q profit slips 7 percent
Tweet Share on Facebook 9:42AM July 27, 2012 CommentNEW YORK (AP) — Chevron's net income fell nearly 7 percent in the second quarter as oil prices and production declined.
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Gov't: Great Recession bit less weak than thought
Tweet Share on Facebook 9:27AM July 27, 2012 CommentWASHINGTON (AP) — Here's a small consolation: The Great Recession wasn't quite as horrendous as previously thought.
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Barclays reports new UK inquiry, US lawsuits
Tweet Share on Facebook 8:35AM July 27, 2012 CommentLONDON (AP) — Barclays PLC said Friday that it faces a fresh investigation by financial services regulators in the United Kingdom and a new batch of class-action lawsuits in the United States, legal troubles that promise a continuing public relations headache for the British lender.
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Tough EU stance? It's in Germany's culture
Tweet Share on Facebook 8:22AM July 27, 2012 CommentBERLIN (AP) — Head to the checkout at an Ikea in Stockholm to pay for your new leather corner sofa and with the swipe of a Visa card it's yours. Don't try that in Berlin — that'll be €1,699 ($2,080) up front please.
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Greek prime minister meets austerity inspectors
Tweet Share on Facebook 7:37AM July 27, 2012 CommentATHENS, Greece (AP) — International austerity inspectors pressed Greece's prime minister Friday to implement new harsh cost-cutting reforms as the country faces the alternative of losing the rescue loans that are keeping the country afloat.
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Airbus owner EADS ups targets, delays A350
Tweet Share on Facebook 6:35AM July 27, 2012 CommentAMSTERDAM (AP) — Airbus parent company EADS NV on Friday announced a further delay to its new A350 aircraft as it reported second-quarter earnings that almost quadrupled from a year ago.
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Italian borrowing costs drop in 6-month bond sale
Tweet Share on Facebook 6:01AM July 27, 2012 CommentMILAN (AP) — Italian borrowing costs for six-month paper have dropped as pressure on the Eurozone's third-largest economy eases.
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Renault sees 39 percent drop in 1st half profit
Tweet Share on Facebook 5:40AM July 27, 2012 CommentPARIS (AP) — French carmaker Renault stuck to forecast of an increase in global sales Friday in spite of a 39 percent fall in first-half profits driven by higher production expenses.
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Danone sees sales grow 7.7 percent in first half
Tweet Share on Facebook 5:04AM July 27, 2012 CommentPARIS (AP) — French food and drink company Danone reported Friday that its revenue grew 7.7 percent in the first half of the year, as it continues to expand in Asia to offset stagnant growth in its core market of Europe.
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Galaxy phones drive Samsung to record profit again
Tweet Share on Facebook 5:01AM July 27, 2012 CommentSEOUL, South Korea (AP) — Samsung, the world's largest technology company by revenue, reported another record-high quarterly profit as customers flocked to Galaxy smartphones, helping it outdo rivals at a challenging time for the global tech industry.
