Business News
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Gold slips on speculation will Fed cut stimulus
Wednesday, May 22, 12:49 pm
(AP) - Gold prices are sinking as traders weigh the possibility that the Federal Reserve will start paring back its support for the economy in the coming months. Gold for June delivery... Read more...
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Wal-Mart hires Hill & Knowlton executive
Wednesday, May 22, 12:48 pm
NEW YORK (AP) - Wal-Mart Stores Inc. named Dan Bartlett, most recently president and CEO of the U.S. arm of global business advisory firm Hill & Knowlton Strategies, as its new executive vice... Read more...
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Iceland forms center-right govt, halts EU talks
Wednesday, May 22, 12:45 pm
REYKJAVIK, Iceland (AP) - The leader of the center-right Progressive Party was chosen as Iceland's new prime minister Wednesday and promptly announced a halt to talks with the European Union about... Read more...
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How The AP and Equilar calculate CEO pay
Wednesday, May 22, 12:32 pm
(AP) - For its annual survey of CEO pay, The Associated Press uses data provided by Equilar, an executive pay research firm. This year, Equilar examined the regulatory filings detailing... Read more...
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Median CEO pay rises to $9.7 million in 2012
Wednesday, May 22, 12:29 pm
(AP) - CEO pay has been going in one direction for the past three years: up. The head of a typical large public company made $9.7 million in 2012, a 6.5 percent increase from a year earlier... Read more...
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Stocks fall on news Fed weighed cutting stimulus
Wednesday, May 22, 12:10 pm
NEW YORK (AP) - Stocks fell in afternoon trading Wednesday on news that several Federal Reserve policymakers in a meeting earlier this month favored cutting back on stimulus programs as early as... Read more...
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Oil falls near $94 on small drop in supplies
Wednesday, May 22, 12:02 pm
(AP) - The price of oil fell near $94 a barrel Wednesday as the nation's oil supply fell less than expected and demand for gasoline remained weak. Benchmark crude for July delivery declined... Read more...
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Fiat Industrial aims to shift tax home to Britain
Wednesday, May 22, 11:58 am
MILAN (AP) - Fiat Industrial disputed as "absolutely false" reports Wednesday that Italy would lose 500 million euros ($646 million) in tax revenues if it moves its tax base to Britain... Read more...
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Fed weighed slowing its pace of bond purchases
Wednesday, May 22, 11:49 am
WASHINGTON (AP) - Several Federal Reserve policymakers this month favored slowing the Fed's efforts to maintain record-low long-term interest rates as early as June _ if the economy showed strong... Read more...
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Glaxo, US partnering to develop new antibiotics
Wednesday, May 22, 11:28 am
LONDON (AP) - GlaxoSmithKline PLC says it's starting an unusual collaboration with the U.S. government to develop several antibiotics for both bioterrorism threats and bacterial infections resistant... Read more...
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AP PHOTOS: The 10 highest-paid CEOs of 2012
Wednesday, May 22, 11:27 am
(AP) - It pays to be in TV. On the list of 10-best paid CEOs of 2012 _ the exclusive club inside an already-exclusive club _ half are in the entertainment and media industry, according... Read more...
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Bernanke signals Fed to maintain stimulus efforts
Wednesday, May 22, 11:27 am
WASHINGTON (AP) - Chairman Ben Bernanke told Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to slow its extraordinary stimulus programs. Reducing... Read more...
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Pfizer plans offering to pare Zoetis stake
Wednesday, May 22, 11:03 am
TRENTON, N.J. (AP) - Drugmaker Pfizer Inc. plans to try to sell its controlling stake in its former animal health business, Zoetis Inc., through a voluntary stock exchange with Pfizer shareholders. Pfizer,... Read more...
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Target's 1Q profit drops 29 pct on weak sales
Wednesday, May 22, 10:18 am
NEW YORK (AP) - Target Corp. reported a 29 percent drop in first-quarter profit as unusually cool spring weather and financial pressures chilled customers' appetite for spending. The company,... Read more...
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Weak yen a help for Japan, but headache elsewhere
Wednesday, May 22, 10:00 am
TOKYO (AP) - A steady fall in the value of the yen is proving a godsend for exporters such as Toyota. The cheaper yen is making their products more affordable overseas. Japan's trading partners... Read more...
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