Business News
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Burberry's profit hit by perfume deal's demise
Tuesday, May 21, 9:59 am
LONDON (AP) - British luxury brand Burberry said Tuesday that rapidly improving business in developing markets was offset by the end of a perfume licensing deal, dragging net profit down 3 percent... Read more...
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Herbalife names Pricewaterhouse new auditor
Tuesday, May 21, 9:53 am
LOS ANGELES (AP) - Herbalife Ltd. says it has hired PricewaterhouseCoopers to be its new auditor. The nutrition company's previous auditor KPMG resigned last month after insider trading allegations... Read more...
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JPMorgan's Dimon survives shareholder referendum
Tuesday, May 21, 9:46 am
TAMPA, Fla. (AP) - Shareholders at JPMorgan Chase voted to let Jamie Dimon, the chairman and CEO, keep both his jobs. At the bank's annual meeting, just 32 percent of shareholders voted... Read more...
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Oil slips as traders wait for Fed, supply data
Tuesday, May 21, 9:18 am
NEW YORK (AP) - The price of oil fell Tuesday as investors waited for the Federal Reserve's latest views on the U.S. economy. Benchmark crude for June delivery was down 47 cents to $96.24... Read more...
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Stock indexes flip between gains and losses
Tuesday, May 21, 9:02 am
NEW YORK (AP) - Stock indexes fluctuated in midday trading Tuesday as investors tried to predict the Fed's next move. The Dow Jones industrial average rose 32 points to 15,366 shortly before... Read more...
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Indexes edge higher on Wall Street in midday trade
Tuesday, May 21, 8:57 am
NEW YORK (AP) - Stock indexes are edging higher in midday trading on Wall Street as investors look ahead to the Federal Reserve's next moves. The Dow Jones industrial average was up 32 points... Read more...
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Housing recovery boosts Home Depot 1Q results
Tuesday, May 21, 8:49 am
NEW YORK (AP) - Home Depot Inc.'s first-quarter net income rose 18 percent, thanks to the ongoing housing recovery, despite a chilly and wet spring. Its quarterly results topped Wall Street... Read more...
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Lew: IRS actions "unacceptable and inexcusable"
Tuesday, May 21, 8:49 am
WASHINGTON (AP) - Treasury Secretary Jacob Lew says the Internal Revenue Service's targeting of conservative political groups was "unacceptable and inexcusable" and he has directed the... Read more...
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GM to invest $44.5M in Lansing Cadillac factory
Tuesday, May 21, 8:43 am
DETROIT (AP) - General Motors says it will invest $44.5 million at a Lansing, Mich., factory, creating 200 new jobs. The automaker says it will build a 400,000-square-foot building next to the... Read more...
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Best Buy reports 1Q loss on restructuring costs
Tuesday, May 21, 7:08 am
MINNEAPOLIS (AP) - Best Buy Co. on Tuesday reported a loss in its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing... Read more...
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Indexes edge higher on Wall Street in early trade
Tuesday, May 21, 6:47 am
NEW YORK (AP) - Stock indexes are edging higher in early trading on Wall Street as investors look ahead to the Federal Reserve's next moves. The Dow Jones industrial average was up 54 points... Read more...
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German central bank: Economy to improve 'markedly'
Tuesday, May 21, 6:20 am
FRANKFURT, Germany (AP) - Germany's central bank expects the country's economy to improve "markedly" in the second quarter _ a development that could boost the wider eurozone as it struggles... Read more...
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Futures fall as markets await hints from Fed
Tuesday, May 21, 4:54 am
NEW YORK (AP) - U.S. stock futures are down in light trading ahead of an appearance this week by Fed Chairman Ben Bernanke before Congress. Dow Jones industrial futures slipped 4 points to 15,315.... Read more...
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Vodafone annual profits up 1.9 percent
Tuesday, May 21, 4:37 am
LONDON (AP) - U.K.-based mobile telecoms company Vodafone has reported a 1.9 increase in annual profits despite a slowdown in much of its European operations. It reported Tuesday net profits... Read more...
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Average credit card debt, late payments fall in 1Q
Tuesday, May 21, 3:12 am
LOS ANGELES (AP) - Americans got better about paying their credit card debt on time in the first three months of the year, a period when many borrowers use income tax returns to tackle their holiday... Read more...
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