Posted: 22 Jun 2011 02:32 PM PDT
Reuters - Stocks dropped on Wednesday after the Federal Reserve cut its forecasts for U.S. economic growth this year and next, without hinting at further plans for stimulus.Posted: 22 Jun 2011 03:51 PM PDT
Reuters - The Federal Reserve on Wednesday cut its forecasts for U.S. economic growth, but offered no hint of further monetary support, saying the recovery should gradually pick up heading into 2012.Posted: 22 Jun 2011 06:00 PM PDT
Reuters - A Canadian consortium of banks and pension funds said late on Wednesday it raised its hostile bid to buy the operator of the Toronto Stock Exchange, just hours after the London Stock Exchange sweetened its friendly bid to some $4.1 billion.
Posted: 22 Jun 2011 08:20 AM PDT
Reuters - John Paulson's roll of the dice on a lender that rose from the wreckage of the financial crisis is emerging as one of the few big winners for the hedge fund manager in what is shaping up as a downbeat year.
Posted: 22 Jun 2011 02:33 PM PDT
Reuters - FedEx Corp's fourth-quarter earnings and outlook beat forecasts as higher shipping rates and tight cost controls more than offset a slowing economic recovery and high fuel prices.
Posted: 22 Jun 2011 12:16 AM PDT
AFP - Asian stock markets jumped on Wednesday after Greece's embattled prime minister won a confidence vote, taking him one step closer to pushing through austerity measures and avoiding a default.Posted: 22 Jun 2011 02:04 PM PDT
AP - Federal Reserve Chairman Ben Bernanke warned Wednesday that some of the problems that are slowing the U.S. economy could persist into next year.Posted: 22 Jun 2011 12:23 AM PDT
AP - Swedish fashion retailer Hennes & Mauritz AB on Wednesday blamed higher procurement costs as well as campaigns and special offers for an 18 percent drop in second-quarter profits.
Posted: 22 Jun 2011 04:01 PM PDT
Reuters - European leaders will try to convince Greeks and financial markets when they meet on Thursday and Friday that they have a workable plan to help Athens avoid a debt default and return to financial stability.
Posted: 22 Jun 2011 03:29 PM PDT
AP - Investment firm Morgan Keegan & Co. is paying $200 million to settle civil fraud charges that it overstated the value of mortgage investments just as the housing market was collapsing in 2007 and lured buyers of its funds with false sales materials.
Posted: 22 Jun 2011 01:26 PM PDT
AFP - The Greek cabinet approved Wednesday a 2012-2015 austerity budget plan as well as laws for its implementation, a key condition for further EU-IMF help to tame a massive public debt, government sources said.Posted: 22 Jun 2011 02:33 PM PDT
NewsFactor - Seems like everyone has their heads in the clouds these days. With a growing emphasis on synchronizing media purchases and applications on multiple mobile devices and computers, retailer Best Buy is launching Music Cloud.
Posted: 22 Jun 2011 02:22 PM PDT
Reuters - Regions Financial Corp agreed to pay $210 million to settle allegations that its Morgan Keegan brokerage fraudulently marketed mutual funds and said it hired Goldman Sachs Group Inc to explore strategic options for that unit.
Posted: 22 Jun 2011 01:39 PM PDT
AP - Oil prices settled higher Wednesday after the Federal Reserve said that U.S. economic growth has slowed but should pick up again soon. But they retreated in after-market trading as Fed Chairman Ben Bernanke said some of the economy's more serious problems could last into next year.Posted: 22 Jun 2011 01:27 PM PDT
AFP - Outspoken Chinese artist Ai Weiwei was released on bail in Beijing Wednesday nearly three months after he was detained during the government's biggest crackdown on activists in years.Posted: 22 Jun 2011 05:36 PM PDT
Reuters - Unions representing workers at Chrysler Group LLC and its Italian partner, Fiat SpA , are forming a "global network" to share information and best practices, United Auto Workers President Bob King said.Posted: 22 Jun 2011 05:08 AM PDT
BusinessWeek - Dartmouth College's Tuck School of Business (Tuck Full-Time MBA Profile) in Hanover, N.H., accepted 20 percent of the 2,528 people who applied to the full-time MBA program in 2010.A priority is keeping the community small and tight-knit so faculty and administrators can offer personalized attention to students, says Dawna Clarke (screen name: DawnaClarkeTuck), director of admissions at Tuck. Recently, she fielded questions about the program from the public and from Bloomberg Businessweek reporter Francesca Di Meglio (screen name: FrancescaBW). Here are edited excerpts of the conversation:
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