Greek officials conclude meeting about creditors

Greece’s prime minister and the leaders of the three parties backing his coalition government have concluded a nearly three-hour meeting discussing the country’s negotiations with its creditors.
Premier Lucas Papademos released a statement after Sunday’s meeting, saying he and the party leaders were in “complete agreement” over the positions to adopt in subsequent talks toward a […]

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Supervalu 3rd quarter loss widens

Grocery store operator Supervalu says its fiscal third quarter net loss widened due to costs related to a turnaround plan, continued high food prices and a cautious consumer.
The company is facing high food costs as well as costs related to a restructuring plan which involves closing stores, selling off some businesses and lowering debt.
The company […]

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China’s trade weakens; December surplus $16.5B

China’s import growth showed an unexpectedly sharp drop in December in a new sign the world’s second-largest economy is slowing.
December growth in imports fell to 11.8 percent, barely above half the previous month’s 22.1 percent gain, customs data showed Tuesday. Exports rose 13.4 percent, down slightly from November’s growth rate. The country’s politically sensitive global […]

Consumers borrow more in Oct. as economy improves.

Americans stepped up their borrowing in October to buy cars and attend college, and they also charged a little more to their credit cards. The second straight monthly gain in overall borrowing suggests consumers are growing more confident in the economy ahead of the crucial holiday buying season.
Total consumer borrowing rose by $7.3 billion, the […]

Germany denies ‘elite bonds’ plan

Germany insisted Monday that it has no plans to float bonds together with the eurozone’s five other triple A rated nations and use the proceeds to provide assistance to some of the single currency bloc’s indebted members, such as Italy and Spain.
The Finance Ministry’s denial came as the International Monetary Fund also dismissed reports it […]

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Groupon’s fall to earth swifter than its fast rise

Online coupon seller Groupon Inc. is discounting its expectations for its first stock offering.
The Chicago-based company, which offers consumers daily discounts targeted toward their city and preferences, now expects net proceeds of about $478.8 million from its initial public offering of 30 million shares. In June, it said it hoped to raise up to $750 […]

Wal-Mart says China CEO stepping down

Wal-Mart Stores Inc. said Monday the president of Walmart China is stepping down. A company spokesman said the move was unrelated to a Chinese government food safety case against several Wal-Mart stores.
Ed Chan, president of Walmart China since 2007 and also the unit’s chief executive, left for personal reasons, the company said.
The departure comes after […]

GE to build large solar panel factory in Colorado

General Electric Co. will build the largest solar factory in the U.S. near Denver.
The company, which had announced in April it would build the factory, said Thursday it had selected Aurora, Colo., a suburb east of Denver, for the location.
The factory will have an annual capacity of 400 megawatts, enough to supply electricity to about […]

Census: US poverty rate swells to nearly 1 in 6

The ranks of the nation’s poor swelled to nearly 1 in 6 people last year, reaching a new high as long-term unemployment woes left millions of Americans struggling and out of work. The number of uninsured edged up to 49.9 million, the biggest in over two decades.
The Census Bureau’s annual report released Tuesday offers a […]