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Jailed financier Bernard Madoff’s multibillion-dollar Ponzi scheme stretched back at least to the early 1970s, when his employees used historical information about stocks to create false trades that could be placed on customer statements, a former trader revealed as he pleaded guilty Monday to criminal charges.
David Kugel pleaded guilty in U.S. District Court in Manhattan […]
LMI Aerospace Inc., a St. Charles-based provider of engineering services and components to the aircraft industry, reported net income for the third quarter of $4.1 million, or 35 cents per share, compared with $2.6 million, or 23 cents a share, in the third quarter of 2010. Sales of $64.8 million in the third quarter were […]
One-time Sandinista revolutionary Daniel Ortega took a big early lead in presidential elections Sunday, amid reports of protests and international observers being blocked from voting stations.
Ortega, the incumbent and heavy favorite, had 66 percent of the votes compared to 25 percent for his nearest challenger, Fabio Gadea. Conservative Arnoldo Aleman, a former president, was a […]
Filed under: Uncategorized, uk by Forest
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The manufacturing disruptions from the flooding in Thailand are continuing to take their toll on Japanese automakers.
Honda Motor Co. said Friday it is still unclear when its flooded Thai auto plant that has annual capacity of 240,000 vehicles can restart production. The automaker said production reductions will continue in Japan, North America and Europe, as […]
Black Friday is shaping up to be a midnight affair this year.
Macy’s and Target have already announced that they will open at midnight this year instead of at 4 a.m. on the day after Thanksgiving as they did last year. Kohl’s will also open at midnight and not at 3 a.m. as it did last […]
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Americans’ incomes have stagnated for three straight months. Yet they boosted their spending in September 0.6 percent _ three times the increase in August.
Under normal circumstances, that would be a troubling sign for the economy.
But a closer look at Friday’s report from the Commerce Department on September income and spending suggests another possibility: Many people […]
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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 […]
Not all stocks perform poorly during a tough year for the market. Some that you might consider yawners in more robust times actually hang in there and prosper.
For example, stock for the global health and hygiene company Kimberly-Clark Corp. (KMB) and the Georgia-based electric utility Southern Co. (SO) have each posted price gains in the […]