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The U.S. government will boost its control over Citigroup under a deal to convert up to $25 billion in government-held preferred shares in the bank to common equity, a person familiar with the deal said Friday.
Under the deal to bolster the bank’s capital base, Citigroup (C, Fortune 500) will receive no new government funds […]

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Jewelry retailer Zale Corp. posted quarterly results that missed Wall Street estimates Wednesday as aggressive price cuts in the face of lower consumer spending ate into profit margins, and its shares fell more than 11%.
The company outlined additional cost cuts that include the closure of 115 stores and said margins had improved from January […]

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A group of more than 75 Web-focused companies and organizations, including such heavyweights as Google, eBay and Amazon, are calling on Canadian regulators to develop a "nuanced" approach when it comes to the thorny issue of phone and cable companies that manage Internet traffic on their networks.
In filings this week to the Canadian Radio-television Telecommunications […]

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Toronto-area steel distributor Russel Metals Inc. is eliminating 500 jobs, reducing executive and white collar salaries and slashing its dividend nearly in half to deal with what the company called an abrupt and severe drop in steel demand.
The Toronto-area steel distributor (TSX: RUS) said today the cuts affect about 16 per cent of […]

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Small businesses owners struggling to keep up with their bills may see some relief from a new $255 million emergency loan program authorized this week as part of the economic recovery bill.
Congress is pushing for the money to start flowing fast: It gave the Small Business Administration just 15 days to issue guidelines for […]

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Yahoo announced a new mobile service on Tuesday that will deliver an iPhone-like experience for people who cannot or will not splash out for the iconic but pricey Apple device as times get hard.
Yahoo Mobile will launch at the end of March in a form downloadable to any phone with a Web browser and […]

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Harvard University, the world’s richest school with a roughly $29 billion endowment, cut its bets on U.S. stocks in the fourth quarter, according to a regulatory filing.
The filing shows that the university’s investment unit, Harvard Management Co., held roughly 70 stocks at the end of the fourth quarter, down from about 200 at the […]

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Now is a good, no, great, time to buy a house.
That’s what real estate leaders in St. Charles County were saying Wednesday, anyway. They held a luncheon to tout the county’s strong fundamentals and to argue that stable house prices and low low mortgage rates mean now is the time for buyers to […]

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U.S. Treasury Secretary Timothy Geithner will lay out a bank-rescue plan on Tuesday that will rely on public and private funds to take $500 billion of bad assets off banks’ books, sources said.
The plan would also extend a Federal Reserve program aimed at shoring up consumer lending to the troubled mortgage sector, allowing the […]

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Pacific Office Properties said Friday that it has told federal regulators it would issue up to $350 million in new shares of senior common stock.
The Los Angeles-based real estate investment trust, an affiliate of Honolulu-based The Shidler Group, said the filing with the Securities and Exchange Commission outlines the plan to sell up to $300 […]

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