Business
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JPMorgan's Jamie Dimon: A Petulant Child Or A Leader?21 May 2013, 3:02 pm
Like a petulant child who’s been told he can’t have chocolate cake for breakfast, JPMorgan Chase & Co. Chairman and Chief Executive Officer Jamie Dimon indicated he might quit if shareholders vote today to split the roles of chairman and CEO....
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Yankees To Partner With Manchester City In New York MLS Expansion Team21 May 2013, 2:59 pm
The New York Yankees are going to be part owners of a new Major League Soccer team in New York City with the English Premier League's Manchester City....
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A Salute To Beer And The U.S. Armed Forces21 May 2013, 2:54 pm
Memorial Day is coming, and with it the traditional consumer celebrations –parades, outdoor barbeques, food, and, as is also customary, beer. American brewers will be celebrating too. Not only because this is usually a big weekend for them, but also because they’ve seen a significant increase in beer shipments, which have suffered in the recent years....
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Timing of Tumblr Deal Cost Founder David Karp Over $24 Million In Tax21 May 2013, 2:52 pm
When news broke on Sunday that Yahoo agreed to purchase the mindless ramblings of 100 million 13-year old girls Tumblr, the micro-blogging web platform, most Americans’ immediate reaction was “Great…now which punk kid just became an overnight multi-millionaire?”...
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The USGA Bans Use Of The Anchored Putter. It Should Ban A Few Other Things As Well21 May 2013, 2:52 pm
The United States Golf Association, together with the R&A, announced today that they will indeed ban the use of anchored strokes in competition, which will affect nearly all of the players who use long putters. To mix sports metaphors, the proverbial ball is now in the court of the PGA Tour and the PGA of America. Both organizations have stated their opposition to the ban, which is to begin in 2016, just in time for the Olympics in Rio de Janeiro....
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JPMorgan: Shareholders Said To Let Dimon Keep Chairman Seat21 May 2013, 2:47 pm
Jamie Dimon will get to keep both his titles, after a shareholder vote to split the chairman and chief executive roles at JPMorgan Chase reportedly fell short Tuesday morning....
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The NBA's Stars War: The Small Market Strikes Back During 2013 Playoffs21 May 2013, 2:40 pm
The NBA's Final Four in 2012-13 are Miami, Indiana, San Antonio, and Memphis....
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At Xbox Reveal, Microsoft Hides A Priceless Asset21 May 2013, 2:21 pm
On the day the new Xbox is revealed it's clear there is more to Microsoft than most people think....
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Rumsfeld's Rules: Seriously?21 May 2013, 1:57 pm
There is little in Donald Rumsfeld newest book, Rumsfeld's Rules: Leadership Lessons in Business, Politics, War and Life, that anyone in leadership would dispute....
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The Growing Epidemic of Previously Important People (PIPs) and How to Overcome It21 May 2013, 1:55 pm
Please don’t feel sorry for the person I’m about to tell you about. Peter, a long-time friend and business associate recently sold his company, and life has not been easy for him. The contrast between life as the CEO of a mid-size company and as a lone citizen without an organization to run could not be more dramatic. The adjustment will no doubt take time....
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Blu Ray Review: 'Lego Batman: The Movie' Is A Slight But Amusing Gateway Drug21 May 2013, 1:45 pm
I didn't realize it at the time, but Lego Batman: The Movie is something that I should have already seen. I purchased Lego Batman 2: DC Superheroes just under a year ago. It's a testament to how little time I've had to play video games that I haven't worked my way through it enough to even notice that the film I was watching two days ago is merely a re-purposed version of that game's cut scenes. The old bits are apparently reanimated and there are new s...
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One Final Round Up Of Every Xbox 720 Rumor To Date21 May 2013, 1:25 pm
As we head into the final hours before Microsoft premieres their next generation Xbox, I thought it would be interesting to first take a look back at everything we think we know about the system. Microsoft has taken "tight-lipped" to a whole new level in regards to the next Xbox, but as this is the age of the internet, rumors have spread like wildfire over the past months and years....
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Former IRS chief: Can't say how targeting happened21 May 2013, 2:50 pm
WASHINGTON (AP) — The former chief of the Internal Revenue Service is telling Congress he doesn't know why his agency targeted tea party and other conservative groups seeking tax exempt status....
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Wall Street drifts near record, Home Depot buoys Dow21 May 2013, 2:49 pm
By Rodrigo Campos NEW YORK (Reuters) - Stocks were little changed in early trading on Tuesday with Home Depot at a record high and buoying the blue-chips while investors eyed congressional testimony from Fed chairman Ben Bernanke on Wednesday. The housing market recovery helped Home Depot report higher quarterly sales and earnings, prompting the world's largest home improvement chain to boost its sales outlook for the year. Its shares rose 2.3 percent to $78.53 after hitting a record of $79...
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Two Denso Corp executives to plead guilty to price fixing: U.S.21 May 2013, 2:48 pm
WASHINGTON (Reuters) - Two executives at auto parts maker Denso Corp have agreed to plead guilty to conspiring to fix prices and have agreed to cooperate with an ongoing criminal investigation, the U.S. Justice Department said on Tuesday. The executives, Yuji Suzuki and Hiroshi Watanabe, both Japanese nationals, agreed to serve time in U.S. prison and pay a criminal fine, the department said in a news release. Denso itself agreed to plead guilty in the conspiracy and pay a $78 million fine in Ja...
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Stock indexes flip between gains and losses21 May 2013, 2:47 pm
NEW YORK (AP) — Stock indexes fluctuated in early trading Tuesday as investors tried to predict the Fed's next move....
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Exclusive: EU wants to exclude utilities from U.S. trade talks21 May 2013, 2:47 pm
By Ethan Bilby BRUSSELS (Reuters) - The European Union wants to exclude much of the utility sector from a prospective EU-U.S. free trade agreement in order to protect government controlled infrastructure, the latest draft of the EU's mandate for the negotiations showed on Tuesday. Unlike in the United States, many national European electricity grids and power generators are state controlled, and governments fear that a deal supporting the free flow of U.S. companies and money into the sector wou...
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Sprint boosts buyout offer for Clearwire21 May 2013, 2:41 pm
OVERLAND PARK, Kan. (AP) — Sprint Nextel Corp. has raised its buyout offer for the stake in Clearwire it does not already own by 14 percent....
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Ireland rejects blame for Apple's low tax rate21 May 2013, 2:36 pm
By Conor Humphries and Padraic Halpin CORK/DUBLIN (Reuters) - Ireland said on Tuesday it was not to blame for Apple Inc's low global tax payments and had no special rate deal with the company after the U.S. Senate said it paid little or no tax on tens of billions of dollars in profits stashed in Irish subsidiaries. The Irish government, which has seen the luring of U.S. multinationals with low taxes as a key part of its economic policy since the 1960s, said its system was transparent and ot...
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Does France have right plan to revive its economy?21 May 2013, 2:34 pm
PARIS (AP) — The man charged with reviving France's shrinking economy and attracting businesses to invest here is gaining a reputation for doing the opposite....
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Sprint raises Clearwire offer, not enough for some21 May 2013, 2:19 pm
By Sinead Carew (Reuters) - Sprint Nextel Corp raised its buyout offer for wireless service provider Clearwire Corp to $3.40 per share, though some investors and analysts said the new bid was still not enough to overcome staunch opposition. Clearwire shares almost immediately traded at the new offer price, having consistently traded well above the old $2.97-per-share bid. As recently as last week, analysts and investors said the deal was unlikely to be approved unless Sprint raised its bid subst...
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JPMorgan's Dimon looks set to remain chairman after battle21 May 2013, 2:10 pm
By David Henry TAMPA, Florida (Reuters) - JPMorgan Chase & Co's Chairman and Chief Executive Jamie Dimon looks set to win a vote about whether he gets to keep his chairman title, the New York Times reported on Tuesday. A months-long and bitter shareholder campaign demanding more oversight of Dimon will end with JPMorgan's annual meeting on Tuesday. Dimon has suggested that he may eventually leave the bank if he loses the vote. The Times reported that JPMorgan appeared to have defea...
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Best Buy reports 1Q loss on restructuring costs21 May 2013, 2:09 pm
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 some stores....
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Housing recovery boosts Home Depot results; outlook raised21 May 2013, 2:09 pm
By Dhanya Skariachan (Reuters) - Home Depot Inc reported higher-than-expected quarterly results and raised its sales and profit outlook for the year on Tuesday as the world's largest home improvement chain benefited from a nascent recovery in the U.S. housing market. The news pushed the retailer's shares up as much as 3.4 percent to an all-time high and gave fresh evidence that the U.S. housing market was improving after years of weakness. ......
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JPMorgan Averts CEO/Chair Job Split in Early Count - CNBC.com - CNBC.com21 May 2013, 1:21 pm
CNBC.comJPMorgan Averts CEO/Chair Job Split in Early Count - CNBC.comCNBC.comA shareholder proposal to separate the roles of chairman and CEO at banking giant JPMorgan Chase appears to have been defeated, a source familiar with the preliminary tallies told CNBC, strengthening the hand of the bank's embattled chief Jamie Dimon.JPMorgan Seen to Defeat Effort to Split Top 2 Jobs at BankNew York TimesCrunch Time Comes at JP MorganWall Street JournalActivist talk down prospects Dimon voteFinancia...
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Sacking Phaneesh Murthy the right decision, says Nasscom - Business Today21 May 2013, 1:21 pm
Business TodaySacking Phaneesh Murthy the right decision, says NasscomBusiness TodayNasscom Chairman Krishnakumar Natarajan has said the iGATE board took the right decision to sack its President and CEO Phaneesh Murthy over alleged sexual harassment, emphasising that a "quick and decisive" action in such incidents augurs well for ...Thought Phaneesh Murthy learnt his lessons: Mohandas PaiMoneycontrol.comIGate Terminates CEO's Contract Citing RelationshipBloombergOutsourcer Fires In...
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Bobbing Apple: Cook Defends Apple's Offshore Tax Policy - ABC News21 May 2013, 1:13 pm
ABC NewsBobbing Apple: Cook Defends Apple's Offshore Tax PolicyABC NewsApple and congressional investigators both tried to get in a preemptive kidney-punch or two in advance of Apple CEO Tim Cook's testimony later today in Washington on the way Apple avoids paying U.S. taxes on money it earns overseas. Apple released an ...Ireland Defends Corporate Tax SystemWall Street JournalApple CEO Tim Cook testifies at Senate hearing over tax practices – liveThe GuardianApple's Irish Tax Stra...
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United's 787 Dreamliner to land at Denver International Airport Tuesday - The Denver Channel21 May 2013, 1:10 pm
The Denver ChannelUnited's 787 Dreamliner to land at Denver International Airport TuesdayThe Denver ChannelDENVER - The new Boeing 787 Dreamliner is set to land at Denver International Airport after a delay caused by battery failures. The first flight Tuesday is a United Airlines flight from Houston. The first international flight between DIA and Tokyo is scheduled for ...Dreamliner's Other Issues Draw AttentionWall Street JournalGood News For Boeing: 787 Dreamliner Deliveries Resume And...
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Yahoo CEO Offers Tour of New Flickr Site - ABC News21 May 2013, 1:00 pm
Boston GlobeYahoo CEO Offers Tour of New Flickr SiteABC NewsMarissa Mayer and Markus Spiering reveal the big changes that are coming to the photo-sharing site. 02:33 | 05/21/2013. Related Links: Watch: Tornado Survivor: 'It Was Loud, and Then a Very Eerie Calm'. Share: ABC News Live. Breaking news video as it ...RPT-Yahoo's rise in Asia offsets risk from Tumblr betReutersYahoo's Dot-Com Premium for Tumblr Tests Mayer: Real M&ABloombergYahoo Drops $1B for Tumblr, Promises Not ...
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Merger Monday -- Yahoo, GrubHub, Websense, But What About Twitter and ... - Forbes21 May 2013, 12:56 pm
ABC NewsMerger Monday -- Yahoo, GrubHub, Websense, But What About Twitter and ...ForbesWhile things have been quite of late, there is no doubt that yesterday was a Merger Monday given announcements from Yahoo Yahoo and Tumblr, Seamless North America and GrubHub, and Vista Equity Partners announced acquisition of Websense.GrubHub to Merge With Seamless as Food Orders Go MobileBloombergGrubHub And Seamless Cook Up A MergerMediaPost CommunicationsGrubHub, Seamless to combine online food ordering bu...
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Ahead of the Bell: Carnival - Businessweek21 May 2013, 12:35 pm
Dividend.comAhead of the Bell: CarnivalBusinessweekNEW YORK (AP) — Carnival slumped 8 percent in premarket trading as steep discounts for cruises pressure its revenue. The Miami company cut its outlook for the year late Monday as it wrestles with a string of high-profile incidents in which ships have ...Trouble On The High Seas: Carnival's Guidance Cut Scuttles StockForbesCarnival Corporation (CCL) Ex-Dividend Date Scheduled for May 22, 2013NASDAQCarnival flounders after profit warningCNNM...
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Best Buy's sales come up short - CNNMoney21 May 2013, 12:29 pm
BloombergBest Buy's sales come up shortCNNMoneyBest Buy's sales fell more than expected in its fiscal first quarter, creating a speed bump for one of the year's best performing stocks among the S&P 500. The electronics retailer reported that revenue fell 9.6% to $9.4 billion, far below the sales of $10.7 billion ...The Best Buy Turnaround Won't Be Pain FreeForbesBest Buy reports US sales dropFinancial TimesBest Buy Earnings: Retailer Swings to Loss on Lower RevenueWall Street...
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SAC Capital Aims to Stem Withdrawal Requests - New York Times21 May 2013, 10:36 am
New York TimesSAC Capital Aims to Stem Withdrawal RequestsNew York TimesAbout $9 billion of the $15 billion invested at SAC Capital belongs to Steven A. Craig Barritt/Getty Images for the Robin Hood FoundationAbout $9 billion of the $15 billion invested at SAC Capital belongs to Steven A. Cohen, who could wind down SAC and ...Before you blame Cohen, blame yourselfMarketWatchTurning up the heat on SAC's Cohen (Video)New York Business JournalCriminal Charges Weighed Against SACWall Street Jour...
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Court rules for Fannie Mae, Freddie Mac in Oakland County lawsuit; Meisner ... - Oakland Press21 May 2013, 6:02 am
Court rules for Fannie Mae, Freddie Mac in Oakland County lawsuit; Meisner ...Oakland PressTop Oakland County officials said they will be continuing the fight against national mortgage giants Fannie Mae and Freddie Mac in a years-long court battle accusing the lenders of owing Michigan millions of dollars tied to state transfer tax. After a lawsuit ...Fannie Mae, Freddie Mac Exempt From Michigan Transfer TaxBloombergMichigan county will ask US Supreme Court to force Fannie Mae and Freddie ...MLi...
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Pound falls after dip in inflation21 May 2013, 1:01 pm
The pound falls after lower fuel prices lead to a lower-than-expected inflation rate of 2.4% for April....
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Discounts hit cruise firm Carnival21 May 2013, 12:50 pm
Shares in cruise company Carnival have fallen 10% after it issued a profit warning - its second in just three months....
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Apple 'among US's big tax avoiders'21 May 2013, 12:42 pm
Apple is accused of being "among America's largest tax avoiders" by senators, who say the company avoided paying billions of dollars in taxes....
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Asia boost to Burberry profits21 May 2013, 12:00 pm
UK fashion brand Burberry reports a larger-than-expected rise in annual profits after a strong performance in Asia....
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Letter from Africa: A brighter future in Dubai?21 May 2013, 11:41 am
The young Africans who seek a brighter future in the Gulf...
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Marks and Spencer sees profits fall21 May 2013, 11:13 am
Marks and Spencer reports a big fall in annual profits, as troubles in its clothing division continue....
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Rubber bullets fired at SA miners21 May 2013, 11:00 am
Ten South African miners are injured after rubber bullets were fired at a crowd of striking workers, police say....
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Former Saab cars chiefs arrested21 May 2013, 10:31 am
Three former top executives from car maker Saab Automobile have been arrested in Sweden on suspicion of accounting fraud charges....
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Clock ticks on Swiss banking secrecy21 May 2013, 8:43 am
Swiss banks creak under pressure to end trademark secrecy...
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Games numbers 50% below target21 May 2013, 8:21 am
The organisers of the World Police and Fire Games confirm the number of athletes who have signed up to take part so far is almost 50% below the 10,000 target....
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Is Apple's tax avoidance rational?21 May 2013, 7:55 am
Is the company’s tax avoidance rational, asks Robert Peston...
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Vodafone sales hit by European slump21 May 2013, 7:27 am
Vodafone's full-year sales slip for the first time in eight years as tough economic conditions in Europe take their toll on customers....
