Breaking Business News
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China gets blame for intellectual theft
Intellectual property theft is supposedly costing the United States more than US$300 billion each year. A study in the US has shown this is equivalent to all US exports to Asia. The 11-month study by a Congressional Commission found that software and other product theft was on an unprecedented scale. Commission co-chair Jon Huntsman, the former US ambassador to China, told reporters the ...
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Venezuela to meet toilet paper demand
The Venezuelan government has vowed to end a toilet paper shortage in the country. With the commodity in high demand, Venezuela's National Assembly has said it will agree to the importation of 39 million rolls of toilet paper. Toothpaste and soap are also on the Venezuelan shopping list following a chronic shortage brought on by currency controls, which have restricted the landing of ...
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Powerful women join Forbes list
Forbes has listed the world's most powerful woman for 2013 as Angela Merkel. She has become Forbes' number one for the 8th time. This year the list featured 8 heads of state, including the German Chancellor. Other women listed were two new billionaires to the list, women's clothing designer Tory Burch and Spanx's Sara Blakely, who both own their own companies. They were two of 24 ...
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Board approves News Corp split into two entities
WASHINGTON - Rupert Murdoch's News Corporation Friday announced the planned separation of the $76-billion conglomerate into two distinct publicly traded companies, with one to be renamed 21st Century Fox and the publishing firm to retain the News Corp brand. The split has been formally approved by the Board of Directors. The Company announced appointments to the Boards of Directors of both ...
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Italian watchdog says Vatican Bank has improved
The Vatican Bank has been the subject of a 10 page report from its newly formed financial watchdog agency. The report has revealed that there were some attempts last year to use the bank to launder money. In 2012 there were six suspicious transaction reports, two of which were passed on to Vatican prosecutors for investigation. Autorita Informazione Finanziaria, the watchdog, was ...
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Movie Review
Mr. & Mrs. Smith
Mr. and Mrs. Smith is premised on the not entirely incorrect notion that audiences will accept beautiful movie stars doing virtually anything as long as they look good doing it. The film gives us two prime specimens of movie star attractiveness in Brad Pitt and Angelina Jolie ... ...
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Dubai retailer MAF eyes at least $500 million from hybrid bond
DUBAI (Reuters) - Dubai mall developer Majid Al Futtaim Holding (MAF) is looking to raise at least $500 million from the issue of a hybrid debt sale to finance its buyout of French hypermarket chain Carrefour's ...
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BOJs Kuroda says pain from bond yield rise is manageable
TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said the country's financial institutions have sufficient buffers against losses they may incur from rises in bond yields, as long as the market moves are driven by prospects of an economic ...
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Alcoa employee devoted to job community
Friday was to be his company retirement party at Alcoa Technical Center in Upper Burrell, where he worked for almost 36 years. Bergstrom most recently was the manager of Buildings and ...
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United earnings still on the rise
PARKERSBURG- United Bank had another successful year in 2012 as it continued to increase earnings to shareholders, the chairman and CEO told shareholders Monday. United Bankshares Inc. officials, at the annual meeting of shareholders Monday at the Blennerhassett Hotel, said the company was able to continue to thrive in the economic conditions brought on by the Great Recession of 2008. "We ...
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High-end lake homes are now hot property
In Cass, St. Louis, Otter Tail and Aitkin counties -- the most active lake home markets in the state -- the average price has increased 3 to 5 percent since last spring, according to Trulia, a national real estate research and listings firm. But it's the high-end vacation home that is seeing the biggest increase in ...