Business News
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Groupon restatement sparks more worries
Tweet Share on Facebook 5:35PM April 02, 2012 CommentNEW YORK (AP) — Groupon's announcement that its revenue and earnings were lower than what it reported in February is sparking fresh worries about the young company's business model.
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US stocks rise, building on soaring first quarter
Tweet Share on Facebook 5:16PM April 02, 2012 CommentA positive report on U.S. manufacturing overshadowed concerns about weaker global growth and lifted stocks to multi-year highs Monday. The gain added to the best first quarter for stocks in more than a decade.
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Venezuela expands price controls to new products
Tweet Share on Facebook 4:43PM April 02, 2012 CommentCARACAS, Venezuela (AP) — Venezuela's government is trying to contain inflation by expanding price controls to a list of products including diapers, laundry detergent and bottled water.
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Local investors buy Philly newspapers for $55M
Tweet Share on Facebook 4:36PM April 02, 2012 CommentPHILADELPHIA (AP) — A group of powerful local business leaders announced Monday that it had bought Philadelphia's two largest newspapers from hedge funds for approximately $55 million, a fraction of what investors paid for them in 2006.
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Illumina urges shareholders to reject buyout
Tweet Share on Facebook 3:37PM April 02, 2012 CommentSAN DIEGO (AP) — Illumina urged its shareholders Monday to reject a sweetened buyout offer from the Swiss drugmaker Roche, saying that the $6.5 billion deal still undervalues the California maker of genetic analysis instruments.
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Analyst sets $1,001 price target on Apple shares
Tweet Share on Facebook 3:32PM April 02, 2012 CommentNEW YORK (AP) — A Wall Street analyst is setting the highest price target yet for Apple shares, valuing them at $1,001 each, or 63 percent more than their current price.
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Gray hair's in fashion, but what about at work?
Tweet Share on Facebook 2:26PM April 02, 2012 CommentNEW YORK (AP) — Jeanne Thompson began going gray at 23. She colored her hair for years as she worked her way into management at a large Boston-area financial services company, then gave up the dye for good about a year ago.
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Iowa governor seeks federal probe on 'pink slime'
Tweet Share on Facebook 1:51PM April 02, 2012 CommentDES MOINES, Iowa (AP) — Iowa Gov. Terry Branstad called Monday for a congressional investigation into how what he called "a smear campaign" against the meat product commonly called "pink slime" got started.
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Construction spending fell 1.1 percent in February
Tweet Share on Facebook 1:36PM April 02, 2012 CommentWASHINGTON (AP) — U.S. builders trimmed activity for a second straight month in February, pushing construction spending down by the largest amount in seven months. There was widespread weakness with spending on home building, office construction and government projects all dropping.
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A look at the unemployment rates in the eurozone
Tweet Share on Facebook 12:40PM April 02, 2012 CommentEurostat, the EU's statistics office, estimates that unemployment across the 17-country eurozone rose to 10.8 percent in February, a new record since the euro launched in 1999.
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US factory output rises, but construction falls
Tweet Share on Facebook 12:25PM April 02, 2012 CommentWASHINGTON (AP) — U.S. factories stepped up hiring and production in March, the latest evidence that manufacturing is growing at a healthy pace and fueling the recovery.
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Global Payments says Visa drops it after breach
Tweet Share on Facebook 11:46AM April 02, 2012 CommentATLANTA (AP) — Visa Inc. has dropped the card processor involved in a massive data breach from its registry of providers that meet data security standards.
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Dow shuts plants, cuts jobs as Europe struggles
Tweet Share on Facebook 11:45AM April 02, 2012 CommentMIDLAND, Mich. (AP) — Dow Chemical will cut 900 jobs and shutter plants on three continents because of weakness in Europe, which may soon tip back into recession of it has not done so already.
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Oil rises on bullish US manufacturing data
Tweet Share on Facebook 11:07AM April 02, 2012 CommentNEW YORK (AP) — The price of oil is climbing on reports that U.S. factories have cranked into a higher gear.
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Revel, Atlantic City's newest casino, opens
Tweet Share on Facebook 11:02AM April 02, 2012 CommentATLANTIC CITY, N.J. (AP) — The sun rose on a new era in Atlantic City on Monday as the $2.4 billion Revel casino resort opened its doors with a blueberry smoothie toast at sunrise and a rush of gamblers eager to try out the city's 12th casino.
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Pinnacle Airlines files for bankruptcy protection
Tweet Share on Facebook 10:26AM April 02, 2012 CommentNEW YORK (AP) — Pinnacle Airlines Corp., a regional carrier that flies under contract for Delta, United, Continental and US Airways, has filed for bankruptcy protection to deal with its mounting debt.
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UK truckers told to keep quiet during London Games
Tweet Share on Facebook 9:49AM April 02, 2012 CommentLONDON (AP) — London officials have some advice for truck drivers during the Olympics: Lay off the horns.
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Report: AirTran did the best job for passengers
Tweet Share on Facebook 9:33AM April 02, 2012 CommentWASHINGTON (AP) — For the second year in a row, low-cost carrier AirTran Airways did the best job getting passengers to their destinations with the least hassle, private researchers who have analyzed federal data on airline performance said Monday.
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Express Scripts' $29.1B deal for Medco closes
Tweet Share on Facebook 9:32AM April 02, 2012 CommentNEW YORK (AP) — Express Scripts Inc. said Monday that it completed its $29.1 billion acquisition of Medco Health Solutions Inc., creating the largest pharmacy benefits manager in the country by far.
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Total looks to put workers on leaking platform
Tweet Share on Facebook 8:02AM April 02, 2012 CommentLONDON (AP) — French energy company Total said Monday that it was working to return workers to the Elgin platform in the North Sea to try to stop a gas leak.
