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Latest Business News from Times Online | 22 Feb 2008 | 4:21 pm
SINGAPORE (Reuters) - A lack of major orders at the Singapore Airshow could point to a deeper than predicted cyclical downturn for planemakers already smarting from delivery delays on new aircraft.
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Reuters: Business News | 22 Feb 2008 | 12:05 pm
A roundup of the latest corporate earnings reports and what companies are saying about future quarters.
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MarketWatch.com - Top Stories | 22 Feb 2008 | 12:01 pm
Read full story for latest details.
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Business and financial news - CNNMoney.com | 22 Feb 2008 | 11:58 am
Among the companies whose shares are expected to see active trade in Friday’s session are PG&E, Nicor and Endo Pharmaceuticals.
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MarketWatch.com - Top Stories | 22 Feb 2008 | 11:58 am
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Business and financial news - CNNMoney.com | 22 Feb 2008 | 11:45 am
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Business and financial news - CNNMoney.com | 22 Feb 2008 | 11:43 am
Reuters - Buyout firm Terra Firma and French
utility Suez are in talks to trump an agreed 1.2
billion pound ($2.4 billion) bid for British waste firm Biffa
, a person close to the matter said on Friday.
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Yahoo! News: Business | 22 Feb 2008 | 11:43 am
LONDON (Reuters) - Buyout firm Terra Firma and French utility Suez are in talks to trump an agreed 1.2 billion pound ($2.4 billion) bid for British waste firm Biffa , a person close to the matter said on Friday.
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Reuters: Business News | 22 Feb 2008 | 11:43 am
A stronger-than-expected gauge of European private-sector activity initally pushed the euro higher Friday, but the single currency later turned narrowly mixed after a round of weaker-than-expected industrial data. Analysts said sentiment remained weak toward the dollar, which was lower against most major counterparts.
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MarketWatch.com - Top Stories | 22 Feb 2008 | 11:42 am
Reuters - Chinese aluminum giant Chinalco,
which this year led a $14 billion acquisition of 12 percent of
Rio Tinto , said in remarks in an influential
magazine that it will continue to seek acquisitions abroad.
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Yahoo! News: Business | 22 Feb 2008 | 11:38 am
Read full story for latest details.
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Business and financial news - CNNMoney.com | 22 Feb 2008 | 11:38 am
HONG KONG (Reuters) - Chinese aluminum giant Chinalco, which this year led a $14 billion acquisition of 12 percent of Rio Tinto , said in remarks in an influential magazine that it will continue to seek acquisitions abroad.
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Reuters: Business News | 22 Feb 2008 | 11:38 am
John Lewis sent a shiver through the high-street today by reporting its
biggest sales decline for almost a year.
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Latest Business News from Times Online | 22 Feb 2008 | 11:36 am
I recently interviewed with a company for a spot with a team of five women that's led by a woman. I am a man and my concern is that I would not fit in. Furthermore, I have heard recent statistics that a high percentage of the population would rather work for a man.
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Business and financial news - CNNMoney.com | 22 Feb 2008 | 11:24 am
LONDON (MarketWatch) -- U.S. stock market futures were flat Friday as investors remained cautious after the previous session's declines on downbeat economic data.
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MarketWatch.com - Top Stories | 22 Feb 2008 | 11:24 am
LONDON (MarketWatch) -- RWE AG, Germany's second-largest utility, on Friday said it plans to invest 30 billion euros in new plants and equipment in the next five years but lower-than-expected annual results and conservative guidance weighed on the shares.
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MarketWatch.com - Top Stories | 22 Feb 2008 | 11:21 am
LONDON (Reuters) - British bank Lloyds TSB reported a 6 percent rise in underlying 2007 profit and raised its dividend on Friday, absorbing a rise in its writedown on risky assets and sending its shares over 5 percent higher.
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Reuters: Business News | 22 Feb 2008 | 11:19 am
Lloyds TSB has raised its full-year dividend for the first time in five years and pledged to keep on “growing [it] over time” after shrugging off the worst of the credit crunch.
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Telegraph Business | 22 Feb 2008 | 11:15 am
Reuters - British bank Lloyds TSB reported a 6
percent rise in underlying 2007 profit and raised its dividend
on Friday, absorbing a rise in its writedown on risky assets
and sending its shares over 5 percent higher.
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Yahoo! News: Business | 22 Feb 2008 | 11:13 am
Read full story for latest details.
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Business and financial news - CNNMoney.com | 22 Feb 2008 | 11:11 am
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Business and financial news - CNNMoney.com | 22 Feb 2008 | 11:01 am
Humberts Group, the estate agency and surveyor that is part-owned by property tycoon Vincent Tchenguiz, has swung to a full-year loss, taking a £18.4m hit as Britain's once booming property market grinds to a halt.
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Telegraph Business | 22 Feb 2008 | 11:00 am
Reuters - U.S. stock index futures edged up
before the start of Wall Street trading on Friday, with the
focus on financial groups Merrill Lynch , MBIA
and Lehman Brothers .
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Yahoo! News: Business | 22 Feb 2008 | 10:54 am
FRANKFURT (Reuters) - U.S. stock index futures edged up before the start of Wall Street trading on Friday, with the focus on financial groups Merrill Lynch , MBIA and Lehman Brothers .
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Reuters: Business News | 22 Feb 2008 | 10:53 am
The former head of Volkswagen's employee council is sentenced to two years nine months in prison.
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BBC News | Business | World Edition | 22 Feb 2008 | 10:50 am
Recession has been getting so much attention lately that it's been easy to forget about the threats posed to the U.S. economy by inflation.
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Business and financial news - CNNMoney.com | 22 Feb 2008 | 10:44 am
U.S. stocks looked set for another rocky session Friday as investors remained wary of the slowing economy and crude prices pulled back further.
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Business and financial news - CNNMoney.com | 22 Feb 2008 | 10:42 am
Terra Firma and Suez could wait until the last possible moment to launch a
joint £1.5 billion counterbid for Biffa, sparking an eleventh-hour bidding
war for the the waste firm.
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Latest Business News from Times Online | 22 Feb 2008 | 10:38 am
Troubled bank Northern Rock is nationalised, with all shares coming under government control.
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BBC News | Business | World Edition | 22 Feb 2008 | 10:37 am
Turkey's military said it had launched a cross-border land offensive backed by fighter jets into northern Iraq to hunt down Kurdish PKK guerrillas, an apparent escalation described by a senior US official as 'a whole new level'
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FT.com - US homepage | 22 Feb 2008 | 10:34 am
Shares in German power company, RWE, fall sharply after its latest annual profits disappoint investors.
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BBC News | Business | World Edition | 22 Feb 2008 | 10:05 am
LONDON (MarketWatch) -- Shares in banking group Lloyds TSB rose strongly in London on Friday, with the bank making up all of February's losses as it reported higher profits and lifted its dividend payout.
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MarketWatch.com - Top Stories | 22 Feb 2008 | 10:01 am
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Business and financial news - CNNMoney.com | 22 Feb 2008 | 9:55 am
Annual profits at High Street bank Lloyds TSB fall slightly to £4bn, but it raises its dividend to shareholders.
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BBC News | Business | World Edition | 22 Feb 2008 | 9:49 am
HONG KONG (MarketWatch) -- Most Asian markets were in retreat Friday, with Japanese stocks pushed down by exporters such as Honda Motor Co. and Canon Inc., while Shanghai-listed shares ended sharply lower.
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MarketWatch.com - Top Stories | 22 Feb 2008 | 9:47 am
LONDON (MarketWatch) -- U.K. bank Lloyds TSB on Friday reassured investors with a 17% rise in net profit, beating market expectations even as it increased write-downs for the year to $545 million.
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MarketWatch.com - Top Stories | 22 Feb 2008 | 9:27 am
China’s increasingly aggressive sovereign wealth fund (SWF) is poised to
unleash a $10 billion ($£5.14 billion) investment spree in Japan and is
initially expected to set its sights on the energy sector.
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Latest Business News from Times Online | 22 Feb 2008 | 9:25 am
LONDON (MarketWatch) -- A bidding war for Biffa appeared likely Friday, with France's Suez and private equity firm Terra Firma preparing a 1.5 billion pound ($2.94 billion) counterbid for the U.K. waste-management firm that would top an already-agreed 350 pence per share offer, the Financial Times reported.
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MarketWatch.com - Top Stories | 22 Feb 2008 | 9:25 am
Arsenal, the Premier League football club being stalked by a Russian
businessman, said this morning that its move to the Emirates stadium
combined with a more lucrative TV rights deal and the £16 million sale of
Thierry Henry drove half year pre-tax profits up 55 per cent.
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Latest Business News from Times Online | 22 Feb 2008 | 9:13 am
LONDON (MarketWatch) -- European shares moved lower on Friday, pressured by losses in the oil and gas sector and from Germany's second largest utility RWE.
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MarketWatch.com - Top Stories | 22 Feb 2008 | 8:45 am
Lloyds TSB today posted a pre-tax profit of £3.9 billion for 2007, up 6 per
cent on the previous year, after escaping the worst of the US sub-prime
mortgage meltdown.
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Latest Business News from Times Online | 22 Feb 2008 | 8:36 am
MOSCOW (Reuters) - Mikhail Shishkhanov, a nephew of billionaire Mikhail Gutseriyev, has agreed to sell top 50 Russian lender Binbank to businessman and senator Vadim Moshkovich, the bank said on Friday.
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Reuters: Business News | 22 Feb 2008 | 8:28 am
RWE, Germany's second biggest utility and the owner of RWE npower in the UK,
has cut its dividend to shareholders by 10 per cent as it prepares to invest
more than €30 billion (£22.6 billion) in the next four years on power
stations and energy networks.
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Latest Business News from Times Online | 22 Feb 2008 | 8:27 am
They're paying $1.8 million for a 30-second spot to be associated with Hollywood.
This year, the advertisers are better known than the movies.
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L.A. Times - Business | 22 Feb 2008 | 8:00 am
Investors jump into Treasuries and gold as economic indicators point to a recession. Energy shares tumble.
Wall Street sank Thursday as bulging oil inventories deflated energy shares and after the weakest reading on mid-Atlantic manufacturing activity since 2001 added evidence the economy was in or near recession.
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L.A. Times - Business | 22 Feb 2008 | 8:00 am
With fewer people buying houses and with foreclosures increasing, demand is up for apartments.
If home prices are plunging, then why are rents going up?
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L.A. Times - Business | 22 Feb 2008 | 8:00 am
A trade group plan could mean the mortgage rates might stay higher than borrowers expect.
George DeAnda wants to refinance his $540,000 mortgage. So like many homeowners with so-called jumbo loans, the Yorba Linda resident has been anxiously awaiting new government rules that were expected to make big mortgages more available and less expensive.
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L.A. Times - Business | 22 Feb 2008 | 8:00 am
Larry the Cable Guy's "Witless Protection" is coming out on Academy Awards weekend, but producer J.P. Williams knows the silly crime comedy is a far better bet next year to snag a Golden Raspberry award for dubious achievement than Oscar gold.
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L.A. Times - Business | 22 Feb 2008 | 8:00 am
Federal regulators have proposed relatively minor changes to the popular Family and Medical Leave Act, a relief for advocates who had feared a sweeping rewrite that would have made it difficult for people to take advantage of it.
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L.A. Times - Business | 22 Feb 2008 | 8:00 am
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L.A. Times - Business | 22 Feb 2008 | 8:00 am
Small amounts help Anbar entrepreneurs build up businesses.
Here in western Iraq on the border with Syria, there are signs of recovery amid wreckage left from the chaos brought by insurgents in Husaybah and such major battleground cities as Fallouja and Ramadi.
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L.A. Times - Business | 22 Feb 2008 | 8:00 am
Parent company Reed Elsevier announces plans to sell its publishing unit, Reed Business Information, which oversees the publication.
The 103-year-old Hollywood trade paper Variety went on the auction block Thursday when Anglo-Dutch company Reed Elsevier put its publishing unit up for sale.
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L.A. Times - Business | 22 Feb 2008 | 8:00 am
The move is the software giant's response to criticism that it continues to hinder competition.
Trying to head off a European investigation of its business practices, Microsoft Corp. said Thursday that it would release an unprecedented amount of information about how its core products interact with other software developers' programs.
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L.A. Times - Business | 22 Feb 2008 | 8:00 am
Reuters - Operator BP expects to wring
at least 2 billion barrels more crude from Alaska's Prudhoe Bay
oilfield, even after the ageing giant has yielded over 11
billion barrels, far more than thought possible when it was
discovered.
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Yahoo! News: Business | 22 Feb 2008 | 7:46 am
ANCHORAGE (Reuters) - Operator BP expects to wring at least 2 billion barrels more crude from Alaska's Prudhoe Bay oilfield, even after the ageing giant has yielded over 11 billion barrels, far more than thought possible when it was discovered.
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Reuters: Business News | 22 Feb 2008 | 7:46 am
High street lender Lloyds TSB has lifted its dividend after profits emerging relatively unscathed from the credit crisis that has gripped financial markets.
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Telegraph Business | 22 Feb 2008 | 7:30 am
Coffee chain Starbucks is cutting 600 posts, with its headquarters taking the bulk of the reduction.
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BBC News | Business | World Edition | 22 Feb 2008 | 7:13 am
As a sharp aversion to all things debt-related has scotched hundreds of municipal bond auctions in recent weeks, it's become clear that the municipalities are the real losers in this crisis.
But what often has gone unmentioned during the auction rate securities meltdown is that the real winners are the very people who hold the bonds that won't sell. Provided, of course, they don't need the cash right away.
For every municipality that sees its rate raised to 8 percent, or even 20 percent in the case of the Port Authority of New York and New Jersey, there's an investor on the other end of the deal receiving it.
Individual investors and corporate treasurers alike are finding that there may not be buyers, but there sure is high yield.
But that doesn't stop some from playing victim. Already at least one class action law firm is investigating sales practices of these securities by Citigroup.
And this week, MasterCard, US Airways, 3M, Continental Airlines, Charles River Labs, and Intuitive Surgical all reported in annual reports that some of their auctions have failed since January.
But while their legal rhetoric includes the requisite amount of caution, there are signs suggesting that the liquidity problem is a temporary one. No New Yorker wants the Port Authority to be stuck with a big interest rate, but what New Yorker complains about getting a 20 percent, or even 8 percent yield in this market?
Indeed, the Port Authority bonds found a buyer at 8 percent just a week after Goldman Sachs abandoned them at auction. Institutional investors such as hedge funds and distressed bond funds see the value in these low risk securities at higher rates.
The state of Wisconsin hasn't had a failed auction yet, but it sold issues at between 10 percent and 11.5 percent last week. Yesterday, its bonds sold for 7.8 percent. It's a good sign, but Wisconsin's capital finance director Frank Hoadley isn't sure it means a beginning to the end of this crisis. "Anything at all at this point is 100 percent speculation," he says.
Still, there's reason for optimism. "Auction failures should subside in the next few weeks as fresh and existing buyers look to capture the near-extreme value now available in that market," according to Municipal Market Advisors in their weekly outlook.
In fact, some in the bond market speculate about whether that's precisely what the banks had in mind when they stopped saving the auctions several weeks ago: after a spate of failures, the buyers will come back if the yields are attractive enough, letting them off the hook.
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Portfolio.com: Top 5 | 22 Feb 2008 | 6:00 am
Is there room in the well-appointed house of Martha for another larger-than-life name brand? Martha Stewart and her new partner, the television chef Emeril Lagasse, are betting that there is. Several...
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TOKYO (Reuters) - Japan Airlines Corp is looking at buying some Airbus' mid-sized A350 XWB planes after production delays for Boeing Co's 787 planes, two company sources told Reuters.
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Reuters: Business News | 22 Feb 2008 | 4:08 am
NEW YORK (Reuters) - A dissident investor group that is now the largest shareholder in The New York Times Co said on Thursday it was disappointed in a board slate recommended by the publisher and was preparing a proxy battle.
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Reuters: Business News | 22 Feb 2008 | 3:54 am
SEOUL (Reuters) - LG Electronics Inc , the world's fifth-largest mobile phone maker, said on Friday difficulties at rival Motorola Inc give it a strong chance to win market share from the world No.3.
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Reuters: Business News | 22 Feb 2008 | 3:42 am
The hedge funds that hope to elect dissident directors to The New York Times Company board said Thursday that they had increased their holdings to at least 15.61 percent of the companys common stock. ...
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NZ Farming Systems Uruguay (NZFSU), which listed in December, posted a first half net loss of US$6.8 million ($8.6 million) due to a performance fee payable to parent PGG Wrightson.
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New Zealand Herald - Business | 22 Feb 2008 | 3:30 am
Three British bankers extradited to the US on Enron-related charges face sentencing in Texas.
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BBC News | Business | World Edition | 22 Feb 2008 | 3:13 am
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REDMOND, Washington (Reuters) - Microsoft Corp, faced with regulatory concerns in Europe and customers struggling with complex computer systems, said on Thursday it would publish critical...
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LONDON The surprise $2.85 billion write-down at Credit Suisse this week underscored the difficulty banks face in valuing complex investments. But the cause of the blunder may be simple: traders at the...
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Seeking to satisfy European antitrust officials, Microsoft said on Thursday that it would open up and share many more of its technical secrets with the rest of the software industry and competitors. Microsoft...
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Infocious RSS raw feed - channel BNPaperBusiness | 22 Feb 2008 | 1:35 am
FRANKFURT Dresdner Bank said on Thursday that it would bail out its investment vehicle for complex financial products, the latest bank to take the step to avoid a forced sale of assets into turbulent...
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Infocious RSS raw feed - channel BNPaperBusiness | 22 Feb 2008 | 1:35 am
LOS ANGELES (Reuters) - Starbucks Corp said on Thursday it would eliminate 600 jobs as it works to turn around stagnating U.S. coffee shops in the face of a weak economy.
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Infocious RSS raw feed - channel BNewsBusiness | 22 Feb 2008 | 1:15 am
New York hedge fund DB Zwirn & Co is winding down its principal funds after investors rattled by lapses in internal controls, including the expense of a private jet used by the firm's founder said...
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Infocious RSS raw feed - channel BNPaperBusiness | 22 Feb 2008 | 1:02 am
New York hedge fund DB Zwirn & Co is winding down its principal funds after investors – rattled by lapses in internal controls - said they would withdraw more than $2bn
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FT.com - US homepage | 22 Feb 2008 | 1:02 am
John McCain, the presumptive Republican presidential nominee, denied having a romantic relationship with a female lobbyist and insisted he did not grant favours to the woman's clients
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FT.com - US homepage | 22 Feb 2008 | 12:53 am
NEW YORK (Reuters) - A dissident investor group that is now the largest shareholder in The New York Times Co said on Thursday it was disappointed in a board slate recommended by the...
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Parent company Reed Elsevier announces plans to sell its publishing unit, Reed Business Information, which oversees the publication. ...
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Infocious RSS raw feed - channel BNPaperBusiness | 22 Feb 2008 | 12:37 am
The hedge funds that hope to elect dissident directors to The New York Times Company board said Thursday that they had increased their holdings to at least 15.61 percent of the companys common stock. ...
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Infocious RSS raw feed - channel BNPaperBusiness | 22 Feb 2008 | 12:37 am
NEW YORK (Reuters) - MBIA Inc , struggling to preserve the top-level credit ratings it needs to operate normally, said on Thursday its industry should insure municipal bonds as a separate...
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Infocious RSS raw feed - channel BNewsBusiness | 22 Feb 2008 | 12:35 am
For Western Digital, the follower has become the leader.
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Investor's Business Daily: BUSINESS | 22 Feb 2008 | 12:30 am
It's getting taxing to hold real estate, especially if one has means to.
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Investor's Business Daily: BUSINESS | 22 Feb 2008 | 12:30 am
MGM Mirage (MGM), the world's No. 2 casino operator, said its Q4 EPS fell 22.6% to 41 cents ex items, missing views by 3 cents. Revenue rose more...
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Investor's Business Daily: BUSINESS | 22 Feb 2008 | 12:30 am
New sites display places to stay
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Investor's Business Daily: BUSINESS | 22 Feb 2008 | 12:30 am
Prices, production boost Denbury
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Investor's Business Daily: BUSINESS | 22 Feb 2008 | 12:30 am
GFI GROUP (GFIG), a brokerage, said its Q4 EPS rose 49% to 85 cents ex items, beating views by 7 cents. Revenue jumped 27% to $247 mil. Shares fell.
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Investor's Business Daily: BUSINESS | 22 Feb 2008 | 12:30 am
The US branded Serbia's behaviour as "unacceptable" and condemned the country's government for what it said was the incitement of violence after scores of protesters broke into the US embassy in Belgrade and set part of it ablaze
Source:
FT.com - US homepage | 22 Feb 2008 | 12:16 am
Internet shoppers spent 75% more this January than last, driven by sales in clothes and electrical goods.
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BBC News | Business | World Edition | 22 Feb 2008 | 12:12 am
The UK's third-largest pharmaceutical group, Shire, confounded critics with better-than-expected fourth-quarter results.
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Telegraph Business | 22 Feb 2008 | 12:01 am
AstraZeneca has pledged to appeal after it was landed with a $215m fine by US state Alabama which found that it inflated drug prices charged to its Medicaid program.
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Telegraph Business | 22 Feb 2008 | 12:01 am
Ian Cheshire, the new chief executive of B&Q-owner Kingfisher, will restructure the company's senior management team as part of his plan to improve performance at the struggling retailer.
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Telegraph Business | 22 Feb 2008 | 12:01 am
The Financial Services Authority (FSA) is set to clear a path for widespread retail investment in hedge funds with a key policy statement expected as early as today.
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Telegraph Business | 22 Feb 2008 | 12:01 am
Colt Telecom ended a 15-year wait for its investors by reporting its first full financial year of profitability.
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Telegraph Business | 22 Feb 2008 | 12:01 am
Britain's biggest defence contractor, BAE Systems, insisted yesterday that massive spending cuts at the Ministry of Defence will not hit its bottom line as it announced a 43pc increase in profits.
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Telegraph Business | 22 Feb 2008 | 12:01 am
Investment bank Goldman Sachs will take a minority stake in sandwich chain Pret a Manger as part of the sale of the business.
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Telegraph Business | 22 Feb 2008 | 12:01 am
Apax Partners is considering making an offer for Reed Business Information,
the £1.25 billion company behind New Scientist and Computer Weekly. The news
followed the announcement that Reed Business Information's parent company,
Reed Elsevier, is planning to sell off the publisher.
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Latest Business News from Times Online | 22 Feb 2008 | 12:00 am
The relentless rise of house prices has robbed many workers of the hope of
home ownership - and even easing house prices will do little to restore
affordability. But throughout the UK, local councils, developers and housing
associations or co-operatives are busy pouring government money into
building or buying “affordable homes” to be sold or rented to such worthy
cases. What many people may not realise is that they, too, may have the
right to be in one of these homes.
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Latest Business News from Times Online | 22 Feb 2008 | 12:00 am
The timing is unfortunate. Just weeks after lifting heating costs by 15 per
cent for a third of the population, British Gas announces a sixfold increase
in profits. But it is a vast leap to conclude therefore that BG is
profiteering and that its 13 million customers are being ripped off.
Source:
Latest Business News from Times Online | 22 Feb 2008 | 12:00 am
Amid worries of further write-downs, Wall Street banks are looking to get their costs in line, reports CNBC's Charlie Gasparino. 
