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The U.S. trade gap narrowed unexpectedly in August as trade in services pushed exports slightly higher and imports fell by a fractionally larger amount, a U.S. Commerce Department report showed on Friday.
The monthly deficit was $30.7 billion, down 3.6% from a revised estimate of $31.9 billion for July. That reflected a 0.2% increase in […]
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When two former Bear Stearns hedge fund managers go on trial on Tuesday on charges they misled investors over risky securities, their attorneys may have to fight a perception that Wall Street is in the dock over the financial crisis.
Big money managers Ralph Cioffi and Matthew Tannin are the first Wall Streeters from a […]
Filed under: economics by Forest
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Antitrust regulators have opened an investigation into claims that IBM abused its dominance of the market for mainframe computers to suppress rivals, an industry group said Thursday.
Ed Black, chairman of the Computer and Communications Industry Association (CCIA), said members of the organization have received requests for information from the Justice Department regarding anti-competitive practices […]
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Google’s Android operating system for mobile phones will be available on the Verizon Wireless network under an agreement the companies announced Tuesday.
The companies said Verizon (VZ, Fortune 500) will introduce Android-based handsets within the next few weeks.
"The Android platform allows Verizon Wireless customers to experience faster and easier access to the Web from […]
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The court-appointed trustee liquidating Bernard Madoff’s business filed a $199 million lawsuit against four of his family members on Friday.
The trustee, Irving Picard, is suing: Madoff’s brother, Peter, who was the investment securities firm’s chief compliance officer; two sons, Andrew and Mark, who served as co-directors of trading; and niece, Shana, who was the […]
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Troubled lender CIT Group launched a restructuring plan aimed at shaving $5.7 billion of debt. The company warned it could file for bankruptcy if it falls short of that figure.
CIT (CIT, Fortune 500), one of the nation’s largest lenders to small businesses, said late Thursday that its board of directors and steering committee has […]
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The Toronto stock market closed lower Friday and racked up its second weekly loss in a row as a string of disappointing economic data was capped by a U.S. jobs report that widely missed expectations. Collectively, the data have raised even more doubts that the surge in stocks since early March can be sustained.
The […]
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The exit of Bank of America chief executive officer Ken Lewis may silence some of his staunchest critics, but his departure is raising more questions than answers about the fate of the nation’s largest bank.
Chief among them is who would take the reins for Lewis when he officially departs the firm at the end […]
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Most people think they pay too much to Uncle Sam, but for some people it simply is not true.
In 2009, roughly 47% of households, or 71 million, will not owe any federal income tax, according to estimates by the nonpartisan Tax Policy Center.
Some in that group will even get additional money from the government […]
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The court-appointed trustee in the Bernard Madoff case plans to sue four more of his family members for nearly $200 million this week, according to a broadcast report.
Irving Picard, the trustee appointed by the U.S. Bankruptcy Court in New York, and his lawyer David Sheehan told CBS’ "60 Minutes" that they plan to sue […]
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