March 6th, 2010
General Motors has recalled 1.3 million Chevrolet and Pontiac models in North America for power steering failures that are tied to 14 crashes and one injury in the United States, the company said Tuesday.
The recall affects 2005-2010 Chevrolet Cobalt and 2007-2010 Pontiac G5 models sold in the United States, 2005-2006 Pontiac Pursuit vehicles […]
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February 1st, 2010
Laclede Group Inc., the owner of Missouri’s largest natural gas utility, said fiscal first-quarter profit fell 27 percent on lower margins and sales from its wholesale gas marketing unit.
Net income for the quarter ended Dec. 31 was $22.9 million, or $1.03 per share, compared with $31.3 million, or $1.41, a year earlier.
[…]
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December 29th, 2009
China’s trade surplus may slide 19 percent in 2010 as imports surge because of growing domestic demand, Bank of America-Merrill Lynch said.
The amount will narrow to $160 billion from an estimated $198 billion this year, Lu Ting, a Hong Kong-based economist for Merrill, said in an interview today.
A smaller surplus may reduce […]
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December 21st, 2009
The biggest stock market advance in seven decades is reducing the need for additional government stimulus measures, according to former Federal Reserve Chairman Alan Greenspan.
The Standard & Poor’s 500 Index’s 64 percent jump since March made Americans richer by restoring $5.4 trillion to U.S. equities and helped spur a 1.3 percent increase in […]
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December 14th, 2009
WASHINGTON–The Obama administration’s pay czar is limiting the cash compensation for executives at companies that received the largest taxpayer bailouts to $500,000.
The 25th through the 100th top earners at Citigroup, GMAC, American International Group and General Motors must also take more than half their compensation in stock, and at least half must be […]
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October 21st, 2009
International Business Machines posted third-quarter results on Thursday that met analysts’ forecasts, then raised its expectations for the rest of the year, citing improving sales trends during the quarter.
But investors were unimpressed: IBM shares dropped 5% in after-hours trading.
IBM (IBM, Fortune 500) said its net income for the quarter rose to […]
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September 26th, 2009
While the recession has affected the entire nation, members of minority groups have suffered more pain than their white counterparts, according to a report released Wednesday by a liberal think tank.
The report by the Center for American Progress says economic pain among non-whites is lasting longer than before and signaling structural problems such as […]
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September 17th, 2009
Retail sales surged in August, with the Cash for Clunkers program giving auto sales an extra boost, the government reported Tuesday.
The Commerce Department said total retail sales jumped 2.7% last month, compared with July’s revised decline of 0.2%. Economists surveyed by Briefing.com predicted August sales increased 2%.
Sales excluding autos and auto parts rose 1.1%, […]
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September 7th, 2009
The roughly $1 million in loans to Ritchies owner Ira Hopmeyer that derailed a buyout of the auction house were cited in the company’s 2007 books as "unsecured, non-interest bearing and have no specific terms of repayment."
The description comes in notes referring to the company’s balance sheet prepared by accounting firm Fuller Landau.
As of […]
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August 18th, 2009
Little Tikes Co. is recalling about 1.6 million toys because of a choking hazard, a government agency said Thursday.
The U.S. Consumer Product Safety Commission announced the recall of Little Tikes Workshop Sets and Trucks after it received a report that an 11-month-old boy was hospitalized after getting a plastic nail lodged in his throat. […]
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