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Business News

China allows release of critical IMF report (AFP)

Thu, 29 Jul 2010 21:20:09 GMT

AFP - China allowed an IMF report critical of its currency policy to be released Thursday for the first time in four years, signaling Beijing's confidence that it can control the debate on the yuan.

NY AG announces probe of life insurance industry (AP)

Fri, 30 Jul 2010 02:26:16 GMT

AP - State Attorney General Andrew Cuomo said Thursday that he had opened a fraud investigation into how life insurers pay out benefits after policyholders die.

SEC charges Wyly brothers with $550 million fraud (Reuters)

Thu, 29 Jul 2010 23:52:47 GMT

Reuters - The Securities and Exchange Commission charged billionaire Samuel Wyly and his brother Charles with fraud for reaping more than $550 million of illicit gains by trading stock in four companies while they were serving as directors.

Samsung says 2Q net profit surges 83 percent (AP)

Fri, 30 Jul 2010 02:01:34 GMT

AP - Samsung Electronics Co.'s net profit surged 83 percent in the second quarter to a record high amid increased sales and strength in its semiconductor and flat panel businesses.

Citigroup to pay $75 million to settle SEC charges (Reuters)

Fri, 30 Jul 2010 01:46:19 GMT

Reuters - Citigroup Inc will pay $75 million to settle charges that it failed to disclose subprime exposure to investors in 2007, the U.S. Securities and Exchange Commission said on Thursday.

Amgen 2Q net income slips on higher taxes (AP)

Thu, 29 Jul 2010 21:19:25 GMT

AP - Biotechnology company Amgen Inc. said Thursday that its second-quarter net income slipped 5 percent, mainly on higher taxes, but the results topped Wall Street expectations.

The Rebirth of Prague's Vltava River (BusinessWeek)

Thu, 29 Jul 2010 12:08:41 GMT

BusinessWeek - When Petr Vojak was deciding where to settle down with his family last year, his aim was clear. He wanted somewhere peaceful yet central. Eventually, they decided on a new flat in a northern district along the Vltava river, which flows through Prague.

FTSE 100 edges up in early deals (AFP)

Thu, 29 Jul 2010 07:27:27 GMT

AFP - London's leading shares rose slightly at the start of trading on Thursday as positive corporate earnings figures countered weak US economic data.

Florida mortgage firm settles federal charges (AP)

Thu, 29 Jul 2010 22:30:00 GMT

AP - Federal regulators say a Florida company they accused of misleading borrowers who were seeking to avoid foreclosure has agreed to repay the consumers $2.4 million to settle those charges.

MetLife posts Q2 earnings of $1.5 billion, beating Street (Reuters)

Thu, 29 Jul 2010 22:43:10 GMT

Reuters - MetLife Inc , the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by higher premium revenue from sales domestically and abroad.

Italy seeks private sponsors to restore Colosseum (AP)

Thu, 29 Jul 2010 14:59:57 GMT

AP - Italian officials are seeking to raise some euro25 million (about $32 million) in private money to finance the restoration of one of the country's iconic landmarks: the Colosseum.

US Fed official warns of 'Japanese-style' stagnation (AFP)

Thu, 29 Jul 2010 21:19:17 GMT

AFP - The US economy risks "Japanese-style" stagnation, a top Federal Reserve official warned Thursday, as a key economic report was expected to show the recovery is losing pace.

Past problems for company at heart of oil spill (AP)

Fri, 30 Jul 2010 02:41:10 GMT

AP - A Canadian company whose pipeline leaked hundreds of thousands of gallons of oil into a Michigan river has experienced leaks, an explosion and dozens of regulatory violations in the past decade throughout the Great Lakes region and elsewhere in the U.S.

Out-of-stock Kindle may mean new version coming (Reuters)

Wed, 28 Jul 2010 17:56:07 GMT

Reuters - Amazon.com said its best-selling Kindle device was currently out of stock, leading one Internet analyst to surmise the online retailer was poised to launch a new version.

Colgate, Glaxo sue over toothpaste "nurdle" (Reuters)

Thu, 29 Jul 2010 20:41:27 GMT

Reuters - Two lawsuits have been filed over a gob of toothpaste.

Wall St falls on tech outlook worries (Reuters)

Thu, 29 Jul 2010 21:06:55 GMT

Reuters - U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.

Tenneco , (Investor's Business Daily)

Thu, 29 Jul 2010 22:35:00 GMT

Investor's Business Daily - Tenneco , an auto parts maker, swung to a Q2 profit of 62 cents ex items, topping views by 18 cents. Revenue rose 36% to $1.5 bil, above views. Tenneco, which makes emission control products, shock absorbers and other components, climbed 7.6% to 25.97.