Business News
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ECB official calls for urgent financial overhaul
Tweet Share on Facebook 7:27AM May 25, 2012 CommentFRANKFURT, Germany (AP) — A top European Central Bank official says the 17 countries that use the euro need an "urgent overhaul" of their banking and financial system to deal with the debt crisis, including a multinational authority with the power to restructure and bail out banks.
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UK's Cameron again defends minister on News Corp.
Tweet Share on Facebook 7:14AM May 25, 2012 CommentLONDON (AP) — Prime Minister David Cameron said Friday he had no regrets about his decision to put Culture Secretary Jeremy Hunt in charge of deciding whether Rupert Murdoch's News Corp. could proceed with a bid to take over British Sky Broadcasting.
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On top of big salaries, companies pile on perks
Tweet Share on Facebook 6:05AM May 25, 2012 CommentIn the small world of big CEOs, the perks can be spectacular.
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Top CEO Pay Equals 3,489 Years for Typical Worker
Tweet Share on Facebook 6:05AM May 25, 2012 Comment
Berkshire Hathaway CEO Warren Buffett.
WASHINGTON (AP) — David Simon of Simon Property received a pay package worth more than $137 million for last year, and the typical CEO took home $9.6 million, according to an analysis by The Associated Press.
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Low wages test loyalty to Singapore ruling party
Tweet Share on Facebook 3:51AM May 25, 2012 CommentSINGAPORE (AP) — Khamis Neshbahri earned a salary of 700 Singapore dollars ($550) a month when he began cleaning office buildings 11 years ago. His wages haven't budged since then while his cost of living has continued to climb.
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German consumer confidence steady
Tweet Share on Facebook 3:23AM May 25, 2012 CommentBERLIN (AP) — A study shows German consumers remain cautiously confident in Europe's largest economy despite uncertainty in the wider 17-nation eurozone.
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HK tycoon Lau rejects Macau corruption charges
Tweet Share on Facebook 2:17AM May 25, 2012 CommentHONG KONG (AP) — Shares of a Hong Kong tycoon's property company tumbled Friday after he insisted he was innocent of bribery and money laundering charges filed by Macau prosecutors over a land deal in the Asian gambling hub.
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Toyota looks to growth in emerging markets
Tweet Share on Facebook 11:35PM May 24, 2012 CommentTOKYO (AP) — Toyota is looking to emerging markets for growth, targeting 50 percent of its global vehicle sales there by 2015, and rolling out eight compact models over the next few years.
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Times-Picayune to cut paper to 3 days a week
Tweet Share on Facebook 11:30PM May 24, 2012 CommentNEW ORLEANS (AP) — The Times-Picayune, one of the nation's oldest newspapers, will no longer offer print editions seven days a week and instead plans to offer three printed issues a week starting in the fall. The change means New Orleans would become the largest metro area in the nation without a daily newspaper in the digital age.
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Alibaba.com $2.5B privatization bid approved
Tweet Share on Facebook 11:11PM May 24, 2012 CommentHONG KONG (AP) — Chinese e-commerce firm Alibaba Group's $2.5 billion bid to take its Hong Kong-listed unit private was cleared Friday by minority shareholders, easing the way for CEO Jack Ma to gain more control over his company's destiny.
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Broadcasters sue Dish over ad-skipping DVR service
Tweet Share on Facebook 9:51PM May 24, 2012 CommentLOS ANGELES (AP) — Broadcasters Fox, NBC and CBS sued Dish Network Corp. on Thursday over a service that offers commercial-free TV.
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Beverly Hills subway approved after fiery films
Tweet Share on Facebook 8:59PM May 24, 2012 CommentLOS ANGELES (AP) — Flames, explosions, sophisticated soundtracks, slapstick comedy with harmonizing hillbillies.
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New Google data show Microsoft's piracy problems
Tweet Share on Facebook 8:53PM May 24, 2012 CommentSAN FRANCISCO (AP) — Google's Internet search engine receives more complaints about websites believed to be infringing on Microsoft's copyrights than it does about material produced by entertainment companies pushing for tougher online piracy laws.
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Box Office Preview: 'MB' to disassemble 'Avengers'
Tweet Share on Facebook 8:14PM May 24, 2012 CommentLOS ANGELES (AP) — Sony's debuting "Men in Black 3," starring Will Smith, Tommy Lee Jones and Josh Brolin, is expected to vaporize "The Avengers'" nearly month-long supremacy at the top of the domestic box office charts, grossing about $80 million across the long holiday weekend.
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Vatican bank chief ousted in no-confidence vote
Tweet Share on Facebook 8:00PM May 24, 2012 CommentVATICAN CITY (AP) — The president of the Vatican bank has effectively been ousted after receiving a unanimous vote of no-confidence from bank overseers for having leaked documents and failed to do his job at a critical time in the Holy See's efforts to show financial transparency, the Vatican and officials said.
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Amazon.com drops affiliation with political group
Tweet Share on Facebook 6:17PM May 24, 2012 CommentOLYMPIA, Wash. (AP) — Internet retailer Amazon.com Inc. is dropping its affiliation with a conservative political group, in part because of some of the positions the American Legislative Exchange Council has taken, a spokeswoman said Thursday.
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Morgan Stanley may refund some Facebook investors
Tweet Share on Facebook 6:17PM May 24, 2012 CommentNEW YORK (AP) — Morgan Stanley, the lead investment bank in Facebook's troubled initial public offering, will compensate retail investors who overpaid when they bought Facebook's stock in Friday's IPO, according to a source familiar with the matter.
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Tiffany's cuts outlook amid slowing demand
Tweet Share on Facebook 6:01PM May 24, 2012 CommentNEW YORK (AP) — Tiffany & Co., a bellwether of luxury spending, says its sales aren't rising as fast as last year in the U.S. or abroad, and the gift and jewelry chain cut its forecasts for sales and profit for the year.
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Facebook launches iPhone camera app
Tweet Share on Facebook 5:34PM May 24, 2012 CommentNEW YORK (AP) — Facebook's rocky initial public offering hasn't stopped life at the world's biggest online social network. On Thursday, the company unveiled a camera app for the iPhone.
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H-P leads Dow to its fourth day of gains in May
Tweet Share on Facebook 4:55PM May 24, 2012 CommentNEW YORK (AP) — Hewlett-Packard helped pull the Dow Jones industrial average to a slight gain Thursday, giving the index only its fourth gain this month.
