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Wyly Brothers Face SEC Fraud Charges
Billionaire brothers Sam Wyly and Charles Wyly hid $550 million in trading profits by using an "elaborate sham system" of offshore entities, the Securities and Exchange Commission charged Thursday.
Thu, 29 Jul 2010 22:30:37 EDT |
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Citi Pays for Subprime Feint
Citigroup will pay $75 million to settle regulatory charges that it failed to disclose $40 billion in subprime exposure to investors in the second and third quarters of 2007.
Thu, 29 Jul 2010 22:41:18 EDT |
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Droid Sales Drive Motorola
Motorola reported higher profit and stabilized its long revenue decline, as the company's wager on smart-phones running Google's software began to pay off.
Thu, 29 Jul 2010 23:43:32 EDT |
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Justice Department Sues Oracle
The U.S. Justice Department accused Oracle of defrauding the federal government on a software contract that involved more than $1 billion in sales.
Thu, 29 Jul 2010 21:36:27 EDT |
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Google: Service in China Operating Normally
Google said its Internet services in China are functioning properly after a minor overnight disruption.
Thu, 29 Jul 2010 23:15:10 EDT |
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Cheung Kong Buys EDF's U.K. Assets
A consortium led by Cheung Kong Infrastructure agreed to pay $9.05 billion for Electricite de France's U.K. electricity distribution networks, a person familiar with the situation said.
Fri, 30 Jul 2010 03:07:56 EDT |
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Asia Slips on U.S. Sentiment
Asian stocks were mostly lower Friday on Wall Street's weakness. The Nikkei fell 1.9% despite strong earnings from Sony and Nissan Motor.
Fri, 30 Jul 2010 00:32:26 EDT |
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Trustee Seeks Madoff Family Funds
The trustee recovering assets for victims of convicted Ponzi-scheme operator Bernard Madoff filed suits alleging customer assets were diverted to businesses to enrich Mr. Madoff's family members.
Thu, 29 Jul 2010 21:32:52 EDT |
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Charles River, WuXi End Deal
Charles River Laboratories and China's WuXi PharmaTech have mutually agreed to terminal their $1.6 billion deal because of opposition by Charles River shareholders, the companies said.
Thu, 29 Jul 2010 22:34:42 EDT |
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Higher Oil Prices Lift Total's Net Profit
French oil major Total posted a 43% increase in second-quarter net profit, boosted by stronger production, higher oil prices and a stronger dollar.
Fri, 30 Jul 2010 02:49:38 EDT |
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Stocks: Down Day, Strong July
The Dow industrials fell 30.72 points amid disappointing revenues from utilities and consumer companies. But blue chips remain on track for their best month since July 2009.
Thu, 29 Jul 2010 16:55:18 EDT |
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Strong Profits. Weak Economy. Odd Couple?
The dichotomy of a weak economy and strong corporate profits isn't as odd as it seems.
Thu, 29 Jul 2010 20:01:29 EDT |
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Toyota Recalls: How Bad Is The Damage?
Forecasts of Toyota's results for July hint at how much damage the recalls have done and at how deep the company's troubles may run.
Thu, 29 Jul 2010 16:33:28 EDT |
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Exxon Profit Soars 91%
Exxon earnings jumped as the oil giant rebounded from the prior year's weak performance on higher commodities prices and improved refining margins.
Thu, 29 Jul 2010 20:00:28 EDT |
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Reliance, Universal Studios in Talks
Indian conglomerate Reliance is in talks with Universal Studios about building a $1.5 billion integrated theme park and resort in India.
Fri, 30 Jul 2010 01:30:47 EDT |
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Intel Wins Ruling in Antitrust Class-Action Case
Intel won a key ruling in a suit against the company on behalf of computer buyers, which found no evidence that consumers have been hurt by the company's discounting practices in the market for computer chips.
Fri, 30 Jul 2010 01:55:59 EDT |
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Microsoft Working on iPad's Rivals
CEO Steve Ballmer said Microsoft needs to do better in the market for tablet computers that Apple has found success in with the iPad.
Thu, 29 Jul 2010 23:01:35 EDT |
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Cuomo Probing MetLife, Prudential Financial
Cuomo launched a fraud investigation into the life-insurance industry for practices that allegedly denied families of deceased military personnel and others from collecting cash from their policies.
Thu, 29 Jul 2010 22:54:42 EDT |
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Vale Tightens Grip With Copper Bid
Brazilian mining giant Vale SA tightened its grip on the domestic metals market with a bid to acquire copper refiner Paranapanema SA.
Thu, 29 Jul 2010 20:04:42 EDT |
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Republicans Press FDA Head on Chinese Heparin
Two Texas Republicans want FDA Commissioner Peggy Hamburg to press Beijing on what Chinese health authorities did to track the contaminated heparin linked 81 deaths in the U.S. in 2008.
Thu, 29 Jul 2010 16:15:47 EDT |
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Jobless Claims Fall
Initial jobless claims declined by 11,000 to 457,000 last week, but that followed a big rise the previous period, signaling little improvement in the job market.
Thu, 29 Jul 2010 11:47:10 EDT |
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From Tiananmen Square to Possible Buffett Successor
Li Lu, a student leader at Tiananmen Square, founded a hedge fund that has garnered a 26% return since 1998, and is now a leading candidate to run a chunk of Berkshire's $100 billion portfolio.
Fri, 30 Jul 2010 01:02:59 EDT |
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BP's Hayward Defends Tenure, Spill Response
Tony Hayward, the departing chief executive of BP, is unrepentant about how the energy giant responded to the U.S.'s largest offshore oil spill.
Fri, 30 Jul 2010 02:53:23 EDT |
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Top Mexican Trafficker Killed in Raid
The Mexican army said Ignacio "Nacho" Coronel, a key ally of Mexico's powerful Sinaloa drug cartel, was killed Thursday during a raid in the Mexican state of Jalisco.
Fri, 30 Jul 2010 00:22:30 EDT |
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