Business News
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AIG launches PR push to repair image
Tweet Share on Facebook 2:43PM July 26, 2012 CommentNEW YORK (AP) — AIG is launching a public relations campaign to repair its reputation.
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Weaker demand pressures Dow Chemical 2Q
Tweet Share on Facebook 2:32PM July 26, 2012 CommentDow Chemical CEO Andrew N. Liveris has a pretty bleak assessment of the world's economy, predicting that it could take until 2014 for growth to return to a normal pace.
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A look at Greece's key financial figures
Tweet Share on Facebook 2:28PM July 26, 2012 CommentATHENS, Greece (AP) — Greece's government started new talks Thursday with international debt inspectors to determine whether the country keeps receiving rescue loans or is forced to default and potentially leave the euro currency union.
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Senate panel debates living spaces for egg-layers
Tweet Share on Facebook 2:24PM July 26, 2012 CommentWASHINGTON (AP) — The freedom of a hen to flap its wings and move around became an issue of congressional concern Thursday as a Senate committee discussed legislation to set national standards for the treatment of egg-laying hens.
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Irish sell long-term bonds for 1st time in 2 years
Tweet Share on Facebook 2:06PM July 26, 2012 CommentLONDON (AP) — Ireland sold more than €5.2 billion ($6.4 billion) in long-term bonds Thursday for the first time in nearly two years, passing a major test of investor sentiment toward the bailed-out nation and improving its chances of returning full time to normal borrowing next year.
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PPR's first half income rises 5.9 percent
Tweet Share on Facebook 1:59PM July 26, 2012 CommentPARIS (AP) — Luxury brands did it again for fashion giant PPR, pushing net income up 5.9 percent to €477 million ($585 million) in the first half of the year despite struggles at sportswear brand Puma.
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LVMH earnings grow by 28 percent
Tweet Share on Facebook 1:56PM July 26, 2012 CommentMILAN (AP) — LVMH Moet Hennessy Louis Vuitton, the luxury goods empire based in Paris, on Thursday reported that first-half net profit rose 28 percent thanks to its Louis Vuitton and Bulgari brands and on growth in Asia and the United States.
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House committee approves normal trade with Russia
Tweet Share on Facebook 1:49PM July 26, 2012 CommentWASHINGTON (AP) — A House committee on Thursday approved legislation to end Cold War restrictions and normalize trade with Russia as U.S. business groups pressed for quick congressional action.
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Greece faces huge hurdles in road to reform
Tweet Share on Facebook 1:45PM July 26, 2012 CommentATHENS, Greece (AP) — Inspectors overseeing Greece's faltering financial recovery have returned to Athens to push the country back on the road to painful reform. But as Greece's economic problems pile higher, the task appears insurmountable.
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Barclays employees boost Romney campaign
Tweet Share on Facebook 1:18PM July 26, 2012 CommentLONDON (AP) — The former chief executive of Barclays dropped out of Mitt Romney's Thursday night fundraiser in London, but Bob Diamond had already sent a check for $2,500.
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House GOP passes latest anti-regulation bill
Tweet Share on Facebook 1:09PM July 26, 2012 CommentWASHINGTON (AP) — The Republican-led House on Thursday passed legislation that would freeze major government regulations until the unemployment rate, now at 8.2 percent, drops to 6 percent or below.
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US economy looks weaker, business confidence dims
Tweet Share on Facebook 12:39PM July 26, 2012 CommentWASHINGTON (AP) — Businesses placed fewer orders for most long-lasting manufactured goods in June, suggesting many are losing confidence in the slumping U.S. economy.
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Starwood Hotels 2Q net income falls, revenue up
Tweet Share on Facebook 12:23PM July 26, 2012 CommentNEW YORK (AP) — Starwood Hotels & Resorts Worldwide Inc. said Thursday that its second-quarter net income slipped 7 percent as charges including those to pay off debt early offset the impact of higher revenue.
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Roche profits drop on one-off costs
Tweet Share on Facebook 12:08PM July 26, 2012 CommentGENEVA (AP) — One-off charges at Swiss drugmaker Roche Holding AG on Thursday pushed first-half net profits down 17 percent, but strong sales of cancer drugs and cost-cutting contributed to a rise in core operating figures.
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Glance: A look at JC Penney's new pricing system
Tweet Share on Facebook 12:05PM July 26, 2012 CommentJ.C. Penney is revamping its pricing strategy six months after the mid-priced department store operator made a sweeping overhaul of its pricing structure, getting rid of hundreds of sales it offers in favor of a three-tier pricing approach. Now the company has decided to eliminate one of the tiers and bringing back the word "clearance," effective Aug. 1. Here's a breakdown of the structure.
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Soda taste test: How the new diets stack up
Tweet Share on Facebook 11:55AM July 26, 2012 CommentNEW YORK (AP) — Ask five strangers to taste five new diet sodas and you might get one opinion: Try again.
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Alcatel-Lucent to cut 5,000 jobs after loss in Q2
Tweet Share on Facebook 11:08AM July 26, 2012 CommentPARIS (AP) — Telecoms equipment maker Alcatel-Lucent plans to eliminate 5,000 jobs in a multimillion-euro drive to cut costs announced Thursday after it reported a second-quarter net loss of €254 million ($308 million).
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Contracts to buy US homes fell slightly in June
Tweet Share on Facebook 10:44AM July 26, 2012 CommentWASHINGTON (AP) — Americans signed fewer contracts to buy previously occupied homes last month, the latest sign the housing market recovery is uneven.
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US rate on 30-year mortgage: 3.49 pct., new record
Tweet Share on Facebook 10:15AM July 26, 2012 CommentWASHINGTON (AP) — The average rate on the 30-year fixed mortgage fell again, this time dropping below 3.50 percent for the first time on records dating back 60 years.
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United Technologies merger will require asset sale
Tweet Share on Facebook 9:59AM July 26, 2012 CommentWASHINGTON (AP) — The Justice Department said Thursday that United Technologies Corp. must sell some assets in order to proceed with its purchase of aerospace-parts maker Goodrich Corp. in an $18.4 billion deal that is the largest merger in aircraft industry history.
