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MSNBC.com: Business
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Xerox turnaround leader retiring; CEO adds role
Posted: March 30th, 2010, 2:09pm MDT
Xerox Corp.'s chief executive will try to copy the success of her predecessor now that it's her company to run.
Xerox - Business - Chief executive officer - Ursula Burns - Anne M. Mulcahy
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Jailed Texas financier Stanford wants new attorney
Posted: March 30th, 2010, 1:39pm MDT
Attorneys representing jailed Texas financier R. Allen Stanford continue falling by the wayside as he awaits trial on charges he bilked investors out of $7 billion as part of a massive Ponzi scheme.
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Netflix is the big loser in Postal Service changes
Posted: March 30th, 2010, 11:04am MDT
In the face of naysayers who have long predicted its demise, Netflix has had a remarkable few years.
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Obama signs health care ‘fixes,’ student aid bill
Posted: March 30th, 2010, 9:36am MDT
President Barack Obama has signed a law that finalizes his health care overhaul and makes the government the issuer of all federal college loans.
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Obama set to sign student aid, health care bill
Posted: March 30th, 2010, 8:42am MDT
President Barack Obama will sign into law changes to the health care bill and an overhaul of the college student loan program cutting banks out of the student aid business.
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Posted: March 30th, 2010, 8:42am MDT
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Fake caviar? Fight against ‘food fraud’ grows
Posted: March 30th, 2010, 3:59am MDT
Trickery has been documented across the food pyramid, from sturgeon caviar that’s Mississippi paddlefish to honey diluted with corn syrup.
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Postal Service to file five-day-delivery proposal
Posted: March 29th, 2010, 12:50pm MDT
The U.S. Postal Service would cut Saturday mail delivery starting in the first half of 2011 under a plan the agency will give its regulator tomorrow.
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Women run Wall Street? Geithner likes the idea
Posted: March 29th, 2010, 11:07am MDT
If women ran Wall Street, Treasury Secretary Timothy Geithner's job cleaning up the bloodied financial markets might not be so tough.
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U.S. to sell entire stake in Citigroup
Posted: March 29th, 2010, 7:22am MDT
The U.S. Treasury said on Monday it would sell the 7.7 billion Citigroup common shares it owns over the course of 2010 under a prearranged written trading plan.
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CEO pay drops, but cash is king
Posted: March 29th, 2010, 5:40am MDT
Bloomberg BusinessWeek takes an exclusive first look at the 2009 compensation of chief executives at 81 big companies.
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WaMu files Chapter 11 plan
Posted: March 28th, 2010, 11:54am MDT
Washington Mutual Inc. filed a Chapter 11 reorganization plan, two weeks after resolving a $4 billion dispute with JPMorgan Chase & Co. and the Federal Deposit Insurance Corp.
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Stormy start to weatherizing stimulus project
Posted: March 28th, 2010, 11:32am MDT
After a year of delays, a $5 billion program to install weather-tight windows and doors has retrofitted a fraction of homes and created far fewer construction jobs than expected.
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U.S. set to make $8 billion from bailing out Citi
Posted: March 27th, 2010, 2:13am MDT
Among the banks that rule Wall Street, Citigroup got a bailout that was bigger than the rest. Now the company is about to pay a king's ransom for its federal rescue.
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AT&T will take $1 billion charge for health care
Posted: March 26th, 2010, 2:35pm MDT
AT&T Inc. will take a $1 billion non-cash accounting charge in the first quarter because of the health care overhaul and may cut benefits it offers to current and retired workers.
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Winning coaches score big in March Madness
Posted: March 26th, 2010, 2:12pm MDT
No one makes more money from the annual NCAA tournament than big-time college basketball coaches. Are they worth their astronomical paychecks?
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AIG’s near-collapse yields gold for Wall Street
Posted: March 26th, 2010, 1:55pm MDT
Auctions of the bailed-out insurer's assets have generated more than half a billion dollars in fees since its near-collapse in September 2008, with every major Wall Street bank getting a piece of the action.
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Health care reform’s cost-cutting scalpel
Posted: March 26th, 2010, 6:01am MDT
One often-heard criticism of the health-care reform legislation that President Barack Obama has now signed into law is that it won't do enough to rein in the cost of treatment.
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Texas high court hears strip club ‘pole tax’ case
Posted: March 25th, 2010, 2:42pm MDT
The Texas Supreme Court is deciding whether to strip away a $5 entrance fee to watch nude dancers.
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U.S. Mint unveils new national parks quarters
Posted: March 24th, 2010, 5:16pm MDT
The U.S. Mint has unveiled design of new quarters featuring four national parks and a national forest.
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Lawsuit: Goldman put me on a ‘mommy-track’
Posted: March 24th, 2010, 12:54pm MDT
Goldman Sachs was sued for alleged bias by a former vice president, who said the Wall Street bank consigned her to a "mommy-track" that led to her firing while she was on maternity leave.
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Sponsored By:
Posted: March 24th, 2010, 12:54pm MDT
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J.M. Smucker to cut 700 jobs, close plants
Posted: March 24th, 2010, 11:44am MDT
The J.M. Smucker Co. is closing four plants and cutting 700 jobs, about 15 percent of its workforce, the food maker said Wednesday.
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Starbucks to pay first dividend, expands buyback
Posted: March 24th, 2010, 7:51am MDT
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Banks to lose billions in student loan revamp
Posted: March 24th, 2010, 7:43am MDT
Industry lobbyists have watched helplessly as the Obama administration appear on the verge of shifting student lending from private banks to the federal government.
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Forbes.com: The biggest product-launch flops
Posted: March 24th, 2010, 5:59am MDT
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How the financial reform debate may play out
Posted: March 24th, 2010, 5:51am MDT
The financial regulation debate has a long way to go in the U.S. Congress, with the action shifting to the full Senate and big headlines unlikely until April.
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Financial reform diluted with bankers in mix
Posted: March 24th, 2010, 5:47am MDT
For all the proposals stuffed into its 1,336 pages, the financial reform bill that is headed to the full Senate will change very little for banks, Wall Street and financial firms.
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Pay czar cuts top earners’ pay at bailout firms
Posted: March 23rd, 2010, 1:00pm MDT
The Obama administration's pay czar slashed pay again at five firms that still depend on a U.S. lifeline. He also said the clampdowns aren’t sending workers fleeing for the exits.
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Forbes.com: The most beloved spokescreatures
Posted: March 23rd, 2010, 12:07pm MDT
One of the most enduring lessons for marketers from the Tiger Woods scandal is that, no matter how attractive celebrity spokespeople may seem, they're only human.
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Wie drives endorsement deal with McDonald's
Posted: March 23rd, 2010, 7:24am MDT
Michelle Wie has signed an endorsement deal with McDonald's, with an advertising campaign that will be launched next month in five languages.
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Time Warner leads bids for film studio MGM
Posted: March 23rd, 2010, 7:11am MDT
Time Warner put up the highest of three bids between $1.2 billion and $1.5 billion for studio Metro-Goldwyn-Mayer, sources close to the situation said Tuesday.
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NBA teams get creative to put fans in stands
Posted: March 23rd, 2010, 5:56am MDT
NBA franchises across the league are finding that they have to offer more in these difficult economic times to entice fans to spend money at their arenas.
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Widow wins rights to ‘King of the Road’ song
Posted: March 22nd, 2010, 4:20pm MDT
The widow of country music legend Roger Miller has won a protracted legal battle over the rights to some of his biggest hits, including "King of the Road."
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Unlikely ally of health care reform: business
Posted: March 22nd, 2010, 3:58pm MDT
When historians write the book on how President Barack Obama's health care overhaul became law, they'll need to leave space for some unlikely advocates.
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Olympic gymnast lands ‘Supergirl’ clothing deal
Posted: March 22nd, 2010, 2:15pm MDT
Olympic champion Nastia Liukin will sell a line under her "Supergirl by Nastia" brand at JCPenney. The inexpensively priced clothes will be geared for girls 8-12.
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Pay czar to ‘look back’ at pay at bailed-out firms
Posted: March 22nd, 2010, 1:26pm MDT
Obama administration pay czar Kenneth Feinberg plans to review past compensation at 419 firms that received bailout funds, including JPMorgan and Goldman Sachs.
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Sponsored By:
Posted: March 22nd, 2010, 1:26pm MDT
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Republicans plan assault on financial reform
Posted: March 22nd, 2010, 7:45am MDT
Democrats sent a massive Wall Street regulation bill to the full Senate on a party line vote after a temporary retreat by Republicans that still left the bill's chances for bipartisan passage in doubt.
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Employer health care costs rise 7.3 percent
Posted: March 22nd, 2010, 6:42am MDT
Average healthcare costs for U.S. employers rose by 7.3 percent in 2009, surpassing inflation and the growth rate in overall healthcare spending, a Thomson Reuters study shows.
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‘Undercover Boss’ spurs shop-floor changes
Posted: March 22nd, 2010, 5:37am MDT
The six corporate chiefs featured so far on the CBS show “Undercover Boss” say time in the trenches taught them hard (if not humbling) lessons that will prompt company changes.
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NASCAR teams embrace unlikely sponsors
Posted: March 21st, 2010, 11:28am MDT
In these tough economic times, NASCAR teams have been forced to look beyond the base of beer companies, home improvement stores and package delivery services for sponsorships.
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Business school grads flocking to Asia for jobs
Posted: March 19th, 2010, 1:51pm MDT
BusinessWeek: New MBAs used to have just one post-grad career destination, the U.S. Not anymore. Right now, Asia is where the career velocity and opportunity are.
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Tiger Woods chooses new logo for golf bag
Posted: March 19th, 2010, 12:18pm MDT
Tiger Woods won't replace AT&T with a new corporate sponsor on his golf bag when he returns at the Masters, instead using his Nike brand.
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Icahn launches hostile bid for Lions Gate
Posted: March 19th, 2010, 8:24am MDT
Activist shareholder Carl Icahn raised the stakes in his yearlong dispute with Lions Gate Entertainment Corp. on Friday, launching an all-out bid to take over the movie studio following disagreements over its spending.
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Boeing to ramp up production of 747, 777 jets
Posted: March 19th, 2010, 7:52am MDT
Boeing Co. will speed up production plans for its 777 and 747 models in anticipation of greater demand from commercial airlines.
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Apple director, ex-auto executive York dies
Posted: March 18th, 2010, 2:58pm MDT
Jerome York, an Apple Inc. board member and a financial wizard credited with turning around Chrysler and IBM, died Thursday of a brain aneurysm. He was 71.
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Apple director, ex-auto executive York dies
Posted: March 18th, 2010, 10:58am MDT
Jerome York, a board member at Apple Inc., and a financial wizard who is credited with turning around Chrysler and IBM, died Thursday at the age of 71.
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Obama: Jobs bill to help small-business owners
Posted: March 18th, 2010, 8:41am MDT
President Barack Obama has signed into law a package of tax breaks and spending designed to give the nation a jobs boost.
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Bank watchdogs nabbed big bonuses too
Posted: March 18th, 2010, 7:14am MDT
The government handed out millions of dollars to bank regulators, rewarding "superior" work even as an avalanche of risky mortgages helped create the meltdown.
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‘Liar’s Poker’ author predicts war on Wall St.
Posted: March 18th, 2010, 6:02am MDT
Wall Street's biggest banks could be broken up by Congress in the coming year in an eventual reckoning over the financial meltdown of 2008, "Liar's Poker" author Michael Lewis said.
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UNC is college hoops’ most-valuable program
Posted: March 18th, 2010, 5:46am MDT
The Tar Heels top Forbes' third annual ranking of college basketball teams with a value of $29 million, up 12 percent from last year when they also claimed the No. 1 spot.
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Sponsored By:
Posted: March 18th, 2010, 5:46am MDT
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Madoff reportedly assaulted by another inmate
Posted: March 18th, 2010, 5:41am MDT
Bernard Madoff was attacked by another inmate at the federal prison where he is serving a 150-year sentence, the Wall Street Journal reported, citing three people.
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BofA boss admits bank made missteps in crisis
Posted: March 17th, 2010, 4:55pm MDT
Bank of America CEO Brian Moynihan conceded Wednesday that the company made a series of missteps during the credit crisis and recession.
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Tiger returns too late for sponsors to cash in
Posted: March 17th, 2010, 3:23pm MDT
Tiger Woods' return to golf at the U.S. Masters next month will generate huge interest in the tournament but almost nothing in the way of immediate revenues or profits for the event.
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Wal-Mart worker fired over medical marijuana
Posted: March 17th, 2010, 12:44pm MDT
Joseph Casias has been legally using medical marijuana to deal with the gnawing pain caused by sinus cancer and an inoperable brain tumor. But then was fired for it.
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Blockbuster hints at possible bankruptcy
Posted: March 17th, 2010, 9:46am MDT
Video-rental chain Blockbuster Inc. says for the first time it may need to file for bankruptcy protection after years of struggling to lessen its debt load.
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Foes line up against financial regulation plan
Posted: March 16th, 2010, 6:04pm MDT
U.S financial institutions and their allies mobilized lobbyists and fueled their media campaigns Tuesday in a swift response to a Democratic plan to rein in Wall Street.
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Woods’ return could be boon for Nike, EA
Posted: March 16th, 2010, 3:06pm MDT
Tiger Woods' return to golf is a long-awaited boon to sponsors that stood by him and marketers that stand to get big exposure from the Masters audience.
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Newsweek: Why isn't Obama leading bank reform?
Posted: March 16th, 2010, 12:31pm MDT
Last year Barack Obama journeyed all the way to Copenhagen to promote his home town, Chicago, for the Olympics (with no success). So why is Capitol Hill seemingly too great a distance for the president to travel in order to rein in the robber banks of Wall Street?
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'Alice' sparks debate over quick DVD releases
Posted: March 16th, 2010, 11:47am MDT
Disney's plan to quickly release the blockbuster "Alice in Wonderland" on DVD is sparking new heat in a debate over how quickly films move from the big screen to living rooms.
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Tiger’s transgressions cost him $50 million
Posted: March 16th, 2010, 9:33am MDT
Tiger Woods' fall from grace has taken a big bite out of his endorsement income. According to one expert, the damage estimate is $50 million per year, or roughly half of his sponsorship earnings.
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Go scentless, workers warned after lawsuit
Posted: March 15th, 2010, 9:02am MDT
Detroit city workers will be urged not to wear perfume, cologne or aftershave as a result of a settlement in a federal lawsuit.
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Apple’s spat with Google is getting personal
Posted: March 15th, 2010, 5:56am MDT
It looked like the beginning of a beautiful friendship.
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Van Heusen to buy Hilfiger for about $3 billion
Posted: March 15th, 2010, 5:49am MDT
Phillips-Van Heusen has agreed to buy clothing company Tommy Hilfiger for about $3 billion.
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Reinventing America Front Page
Fetched: March 14th, 2010, 12:31pm MDT
Reinventing America Front Page -
Cheap cigars, politics and the Volcker Rule
Posted: March 14th, 2010, 12:12pm MDT
When President Obama named his financial reform plan the Volcker Rule, it catapulted the former Fed chief into the role of populist hero. But he is no populist, Paul Volcker insists.
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WaMu settles with JPMorgan, FDIC
Posted: March 12th, 2010, 5:03pm MST
Washington Mutual has tentatively resolved disputes with JPMorgan Chase and the FDIC over some $4 billion at issue in the bank holding company's Chapter 11 bankruptcy, a WaMu attorney said Friday.
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Sponsored By:
Posted: March 12th, 2010, 5:03pm MST
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Reinventing America Front Page
Fetched: March 12th, 2010, 7:31am MST
Reinventing America Front Page -
SEC head urges Congress to act on derivatives
Posted: March 11th, 2010, 4:08pm MST
The SEC is calling anew for Congress to impose oversight on derivatives, warning that allowing risky instruments like credit default swaps to continue unfettered could bring new economic damage.
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The 25 richest counties in the United States
Posted: March 11th, 2010, 3:00pm MST
The country may have started its long haul back to economic recovery — if recent news that consumer spending increased slightly in January is any indication.
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Obama outlines steps in bid to double exports
Posted: March 11th, 2010, 10:04am MST
President Barack Obama sought to put some detail behind his lofty drive to double U.S. exports over the next five years, calling the effort imperative to putting people back to work.
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Big majority wants Wall Street regulation
Posted: March 11th, 2010, 9:35am MST
An overwhelming majority of Americans wants Wall Street subjected to tougher regulation in the aftermath of the bank bailout and the bonus scandals, according to a poll.
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Financial system overhaul hits a hurdle
Posted: March 11th, 2010, 8:16am MST
Chances of a broad overhaul of U.S. financial regulation this year dimmed on Thursday after bipartisan Senate talks collapsed.
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Cable wants FCC to enter broadcast disputes
Posted: March 10th, 2010, 3:29pm MST
The most recent showdown left millions of Cablevision Systems Corp. customers around New York without an ABC station at the start of the Academy Awards.
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The demise of boutique bank Pali Capital
Posted: March 10th, 2010, 10:35am MST
The swift demise of Pali Capital surprised industry observers. But as with many firms that suddenly fail, not everything at Pali was what it seemed.
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BofA to end all overdraft fees on debit cards
Posted: March 10th, 2010, 5:51am MST
Bank of America customers will soon be unable to spend more than they have in the accounts linked to their debit cards.
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Guns and retail are a no-win mix
Posted: March 10th, 2010, 5:38am MST
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Lohan sues E*Trade over ‘milkaholic’ baby
Posted: March 9th, 2010, 11:21am MST
The actress Lindsay Lohan has sued E*Trade Financial Corp for $100 million, saying a "milkaholic" baby girl who appeared in a recent commercial was modeled after her.
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Chevron to shed 2,000 jobs this year
Posted: March 9th, 2010, 9:29am MST
Chevron Corp. says it will cut 2,000 jobs this year and will continue reducing its work force through 2011.
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Bankers winning financial reform battle
Posted: March 9th, 2010, 7:19am MST
As Congress inches toward a new set of rules to avert another global financial collapse, the score so far looks like Bankers 1, Consumers 0.
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Google millionaires spreading their wealth
Posted: March 9th, 2010, 5:32am MST
BusinessWeek: A group of Google millionaires are active angel investors, often working together to swap investment ideas and back startups. And the results have been impressive.
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Cablevision vs. Disney is just a debut episode
Posted: March 8th, 2010, 5:50pm MST
Stay tuned for more fee disputes threatening local television stations on cable TV lineups.
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Sponsored By:
Posted: March 8th, 2010, 5:50pm MST
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Ten cities managing to shrug off the recession
Posted: March 8th, 2010, 3:20pm MST
Jobs in Washington D.C. are growing quickly, and in 2008 the city produced more in goods and services than almost anywhere in the country.
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AIG raising more cash to reimburse taxpayers
Posted: March 8th, 2010, 6:07am MST
American International Group will sell its overseas life and health insurance unit for $15.5 billion to MetLife Inc., the insurer said Monday, as it attempts to repay billions in government aid.
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NYT: Edwards’ affair earns Enquirer respect
Posted: March 8th, 2010, 4:24am MST
In breaking the story around former presidential candidate John Edwards' infidelity, The National Enquirer has beaten mainstream papers at their own game.
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Puerto Rican parade kicks Captain Morgan out
Posted: March 7th, 2010, 4:29pm MST
Organizers of the New York Puerto Rican Day Parade, one of the largest U.S. outdoor events, said they are ending a 30-year relationship with the makers of Captain Morgan Rum.
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AIG nears $15B deal to sell unit to MetLife
Posted: March 7th, 2010, 3:57pm MST
American International Group Inc was closing in on a deal on Sunday to sell its foreign life insurance unit to MetLife Inc for about $15 billion in cash and stock.
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Glover calls for Hugo Boss boycott at the Oscars
Posted: March 7th, 2010, 3:50pm MST
Actor and activist Danny Glover is calling on Academy Awards nominees and others in the film industry to not wear Hugo Boss suits at Sunday's awards ceremony.
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With new $100 bill, Franklin gets a makeover
Posted: March 7th, 2010, 3:42pm MST
Aiming to stay a step ahead of counterfeiters, the government is planning a new design for the $100 bill that will be unveiled next month, the Treasury Department said Friday.
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3 million face Oscar night without broadcast
Posted: March 7th, 2010, 4:08am MST
Cablevision said WABC-TV's signal was switched back on for its 3.1 million subscribers in New York, New Jersey and Connecticut shortly after the Academy Awards telecast began.
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Hurry up and wait: America’s worst traffic
Posted: March 6th, 2010, 8:45am MST
The Great Recession cleared the country's roads, but a recovering economy and stimulus-fed construction projects will lead to worse delays.
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Lessons of a $618,616 death
Posted: March 5th, 2010, 4:12pm MST
Writer Amanda Bennett recounts her late husband's battle with cancer, which cost $618,616 over seven years. The case offers a window into the debate over health care.
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Oscar can mean big boost for studios
Posted: March 5th, 2010, 5:30am MST
Hollywood’s latest business woes have turned Academy Award nominations and wins into financial life buoys for many movie moguls, some industry insiders say.
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Olympics give NBC well-timed boost
Posted: March 4th, 2010, 5:37pm MST
Although NBC may have lost up to $200 million on the Winter Olympics, the network drew record viewership, helping it get past the Jay Leno-Conan O'Brien late-night fiasco.
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Oscar nods aren’t translating into ticket boom
Posted: March 4th, 2010, 3:23pm MST
Spread 10 ways, the phrase "nominated for best picture" hasn't had much of a box office effect.
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Citi CEO says bailout has led to new company
Posted: March 4th, 2010, 12:21pm MST
Facing sharp questions from bailout overseers, Citigroup Inc. CEO Vikram Pandit said Thursday the bank is "fundamentally different" from before the taxpayer rescue.
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Merged voting machine company stoking fears
Posted: March 4th, 2010, 9:49am MST
The Justice Department is investigating whether to unwind a merger that put a privately held company in control of voting machines in 70 percent of the nation's precincts.
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Sponsored By:
Posted: March 4th, 2010, 9:49am MST
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Hulu, the free site, facing some difficult choices
Posted: March 3rd, 2010, 5:41pm MST
Hulu's days as a free online video site could be ending soon.
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10 films that benefited from an ‘Oscar bump’
Posted: March 3rd, 2010, 5:34am MST
Interactive: These 10 films — including “Slumdog Millionaire” and “Crash” — gained substantially from the "Oscar bump" associated with being nominated for an Academy Award.
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Postal Service mulls dropping Saturday delivery
Posted: March 2nd, 2010, 8:14am MST
The post office is renewing its effort to drop Saturday delivery — and plans a rate increase — in an effort to fend off a projected $7 billion loss this year.
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Racy jeans billboard to come down
Posted: March 2nd, 2010, 7:18am MST
Like the pair of jeans it depicts, a billboard poster in downtown Newark is coming down.
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Megaplexes freeze out some indie theaters
Posted: March 2nd, 2010, 5:40am MST
In Redmond, Wash., a tiny 130-seat theater is barred from showing many new films due to the clout of a nearby cineplex. Such deals make life hard for independent cinemas.
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Obama tapping CEOs for lunch, new ideas
Posted: March 1st, 2010, 11:24pm MST
President Barack Obama has often invited a small group of CEOs in for a lunch at the White House. He said the sessions helped him think through ways to create a "smarter economy."
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Olympics give NBC well-timed boost
Posted: March 1st, 2010, 6:04pm MST
Although NBC may have lost up to $200 million on the Winter Olympics, the network drew record viewership, helping it get past the Jay Leno-Conan O'Brien late-night fiasco.
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Recovery reaches nearly half of metros
Posted: March 1st, 2010, 5:14pm MST
Nearly half the metro areas in the U.S. began an economic recovery by the end of 2009, according to new Adversity Index data for December from Moody's Economy.com and msnbc.com. Bill Dedman reports.
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IBM cuts jobs, but won’t say how many, where
Posted: March 1st, 2010, 5:05pm MST
IBM Corp. cut more than 1,500 jobs across a number of divisions Monday, a sliver of the technology company's nearly 400,000 workers worldwide.
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AIG sale covers one-fifth of its bailout tab
Posted: March 1st, 2010, 4:36pm MST
American International Group Inc. is selling a cornerstone of its business, Asia-based life insurer AIA Group, in a government-approved $35.5 billion deal.
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Payback formula for Madoff victims upheld
Posted: March 1st, 2010, 3:20pm MST
The victims of Bernard Madoff's massive swindle are only owed the money they invested with his firm and not the $64.8 billion reflected on fictitious statements, a judge has ruled.
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Analyst downgrades Berkshire Hathaway
Posted: March 1st, 2010, 12:20pm MST
Warren Buffett's Berkshire Hathaway Inc. stock has been downgraded by an analyst concerned about the weak economy.
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States may ban credit checks on job applicants
Posted: March 1st, 2010, 11:26am MST
It's hard enough to find a job in this economy, and now some people are facing another hurdle: Potential employers are holding their credit histories against them.
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Goldman Sachs rejects executive pay inquiry
Posted: March 1st, 2010, 11:10am MST
Goldman Sachs Group Inc. said Monday it has rejected demands by shareholders to investigate the Wall Street bank's compensation practices.
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AIG sells Asian unit in bid to pay back bailout
Posted: March 1st, 2010, 7:09am MST
British insurer Prudential PLC said it will buy the Asian unit of bailed-out AIG in a deal worth $35.5 billion that will allow AIG to pay back some of the money it owes U.S. taxpayers.
