Business News
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Moody's cuts credit ratings of 15 major banks
Tweet Share on Facebook 7:14PM June 21, 2012 CommentNEW YORK (AP) — Moody's Investors Service lowered the credit ratings of 15 major banks Thursday, including Bank of America, JPMorgan Chase and Goldman Sachs, saying their long-term prospects for profitability and growth are shrinking.
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Ex-Stanford executive pleads guilty to obstruction
Tweet Share on Facebook 6:51PM June 21, 2012 CommentHOUSTON (AP) — Disgraced Texas financier R. Allen Stanford's former chief investment officer for his now defunct financial empire pleaded guilty Thursday for her role in helping the once jet-setting businessman bilk investors out of more than $7 billion.
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Tesla's new sedan will make or break the company
Tweet Share on Facebook 6:32PM June 21, 2012 CommentDETROIT (AP) — It's a make or break moment for electric car maker Tesla Motors.
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What's up with Google's plan to split its stock
Tweet Share on Facebook 6:25PM June 21, 2012 CommentNEW YORK (AP) — Google's shareholders gave their support Thursday to the company's plan to issue a new class of stock. Google's co-founders, Larry Page and Sergey Brin, and Executive Chairman Eric Schmidt had pushed the move to ensure that they maintain long-term control of the company.
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Auditors: Spain bank bailout could cost up to $78B
Tweet Share on Facebook 6:17PM June 21, 2012 CommentMADRID (AP) — Spain's troubled banks could need as much as €62 billion ($78.6 billion) in new capital to protect themselves from economic shocks, according to independent auditors hired by the government to assess the country's struggling financial sector, officials said Thursday.
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The pop that wasn't: Life after Facebook's IPO
Tweet Share on Facebook 6:02PM June 21, 2012 CommentNEW YORK (AP) — It's been a month since Facebook's IPO fell flat and in that time, the market for initial public offerings has collapsed.
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Report: Southeast, Gulf need deeper port harbors
Tweet Share on Facebook 5:42PM June 21, 2012 CommentSAVANNAH, Ga. (AP) — U.S. seaports in the Southeast likely need up to $5 billion to deepen their shipping channels so they can trade with supersized cargo ships expected to arrive soon through an expanded Panama Canal, a federal agency said Thursday in a report to Congress.
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It costs just $1.36 to charge an iPad for a year
Tweet Share on Facebook 5:32PM June 21, 2012 CommentNEW YORK (AP) — That coffee you're drinking while gazing at your iPad? It cost more than all the electricity needed to run those games, emails, videos and news stories for a year.
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No hard keyboard for first of new BlackBerrys
Tweet Share on Facebook 4:49PM June 21, 2012 CommentTORONTO (AP) — The first BlackBerry device running Research In Motion Ltd.'s new operating software will not have a physical keyboard, only a touch-screen one.
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Flashy Oracle founder's next buy: Hawaiian island
Tweet Share on Facebook 4:39PM June 21, 2012 CommentHONOLULU (AP) — The billionaire poised to buy a Hawaiian island is an ostentatious and eclectic man who does everything in a big way.
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Court throws out FCC penalties for cursing, nudity
Tweet Share on Facebook 4:20PM June 21, 2012 CommentWASHINGTON (AP) — Broadcasters anticipating a major constitutional ruling on the government's authority to regulate what can be shown and said on the airwaves instead won only the smallest of Supreme Court victories Thursday.
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At US hotels, Chinese treated to comforts of home
Tweet Share on Facebook 4:15PM June 21, 2012 CommentNEW YORK (AP) — Major hotel brands are bending over backward to cater to the needs of the world's most sought-after traveler: the Chinese tourist.
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Weak US job market weighing on broader economy
Tweet Share on Facebook 4:15PM June 21, 2012 CommentWASHINGTON (AP) — The sluggish job market is weighing on the U.S. economy three years after the Great Recession ended. And the signs suggest hiring may not strengthen any time soon.
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Twitter site down for brief outage
Tweet Share on Facebook 4:08PM June 21, 2012 CommentNEW YORK (AP) — Twitter users were unable to access the micro-blogging service for part of Thursday.
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Best Buy committed to change, CEO says
Tweet Share on Facebook 4:03PM June 21, 2012 CommentNEW YORK (AP) — Best Buy's interim CEO said Thursday that the electronics seller is operating below its full potential but is committed to changing in fundamental ways.
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Gov., Dems announce deal on remaining CA budget
Tweet Share on Facebook 3:59PM June 21, 2012 CommentSACRAMENTO, Calif. (AP) — Gov. Jerry Brown and Democratic leaders reached agreement Thursday to finalize California's budget.
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Checks not guaranteed for all insurance rebates
Tweet Share on Facebook 3:53PM June 21, 2012 CommentWASHINGTON (AP) — The check may not be in the mail.
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Gannett hires former energy co exec as CFO
Tweet Share on Facebook 3:12PM June 21, 2012 CommentMcLEAN, Va. (AP) — Gannett Co. Inc., publisher of USA Today and other newspapers, on Thursday named Victoria Harker as its new chief financial officer.
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Greek gov't pledges to safeguard euro membership
Tweet Share on Facebook 2:12PM June 21, 2012 CommentATHENS, Greece (AP) — Greece's new conservative-led coalition government on Thursday pledged to try and revise the country's austerity commitments to its creditors, but insisted that would not endanger ties with the rest of Europe or Greek use of the euro currency.
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Senate Passes Five-Year Farm and Food Bill
Tweet Share on Facebook 2:12PM June 21, 2012 CommentFertile, arable farmland in California.
WASHINGTON (AP) — The Senate has passed a five-year, half-trillion-dollar farm bill that cuts farm subsidies and land conservation spending by about $2 billion a year. But the measure largely protects sugar growers and some 46 million food stamp beneficiaries.
