Latest headlines in Business News
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Oil ends little changed, below $100 a barrel(AP) (Yahoo Business 2012-01-27 21:02:02)
AP - Oil prices moved in a narrow range Friday, as Iran prepared to consider a ban on crude sales to European Union countries. Here's how energy contracts traded.
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Dow on track for 1st weekly loss of year(Reuters) (Yahoo Business 2012-01-27 20:49:33)
Reuters - The Dow was on track to post the first weekly loss this year on Friday as lackluster earnings from blue-chip companies and weaker-than-expected data on U.S. economic growth disappointed investors.
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Correction: Earns-Starbucks story(AP) (Yahoo Business 2012-01-27 20:46:23)
AP - The Associated Press, relying on information supplied by a company executive, erroneously reported Jan. 26 that Starbucks Corp. in its fiscal first quarter had its biggest quarterly revenue gain since 2007. It was the company's biggest quarterly revenue gain since the fourth-quarter of 2010.
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Obama administration bolsters homeowner lifeline(Reuters) (Yahoo Business 2012-01-27 20:44:35)
Reuters - The Obama administration on Friday said it was expanding its main foreclosure prevention program and pushing to open it up to loans backed by mortgage giants Fannie Mae and Freddie Mac.
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In Facebook IPO, bankers seek prestige over fees(Reuters) (Yahoo Business 2012-01-27 20:41:58)
Reuters - Facebook's initial public offering is likely to set a new standard for how low investment banks are willing to go on advisory fees to win big business.
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Wal-Mart puts U.S. marketing under merchandising(Reuters) (Yahoo Business 2012-01-27 20:38:47)
Reuters - Wal-Mart Stores Inc said on Friday that its U.S. marketing team would now work under the leadership of its chief merchandising officer rather than as a separate group as the world's largest retailer works on improving its communication with shoppers.
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Analysis: Banks expect to spend less on bad mortgages(Reuters) (Yahoo Business 2012-01-27 20:22:23)
Reuters - Even as President Barack Obama is calling for more assistance for struggling mortgage borrowers, major banks are looking forward to spending less to handle problem home loans.
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Oil price waver on Persian Gulf supply concerns(AP) (Yahoo Business 2012-01-27 20:06:42)
AP - Oil prices moved in a narrow range Friday as Iran prepared to consider a ban on crude sales to European Union countries.
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Exclusive: Greek PM Papademos expects debt swap deal in days(Reuters) (Yahoo Business 2012-01-27 19:46:30)
Reuters - Greece expects to conclude difficult debt talks with private creditors within days and negotiations with the EU and the IMF on a new bailout deal by the middle of next week, Prime Minister Lucas Papademos told Reuters on Friday.
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EU, IMF press Greece on reforms, Rehn upbeat on debt(Reuters) (Yahoo Business 2012-01-27 19:06:55)
Reuters - The European Union and IMF want Greece to push through more budget cuts and implement a series of long-agreed austerity reforms before they sign off on a new bailout the country needs to avert bankruptcy, a report obtained by Reuters shows.
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Facebook to file IPO documents soon as Wednesday: report(Reuters) (Yahoo Business 2012-01-27 19:06:36)
Reuters - Facebook plans to file documents as early as Wednesday for a highly anticipated IPO that will value the world's largest social network at between $75 billion and $100 billion, the Wall Street Journal cited unidentified sources as saying on Friday.
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Weekly US oil, gas rig count unchanged at 2,008(AP) (Yahoo Business 2012-01-27 19:05:58)
AP - The number of rigs actively exploring for oil and natural gas in the U.S. held steady this week at 2,008.
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Iran hits back at EU with own oil embargo threat(Reuters) (Yahoo Business 2012-01-27 19:05:54)
Reuters - Fighting sanctions with sanctions in a trial of strength with the West over its nuclear ambitions, Iran warned on Friday it may halt oil exports to Europe next week in a move calculated to hurt ailing European economies.
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AEP's 4Q profit jumps 75 percent thanks to ruling(AP) (Yahoo Business 2012-01-27 18:53:27)
AP - American Electric Power Co. said Friday that its fourth-quarter earnings surged 75 percent, largely due to a court decision in Texas that went in the company's favor.
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Greece locked in parallel talks over debt(AP) (Yahoo Business 2012-01-27 18:52:27)
AP - Greece was locked in a twin effort Friday to placate its creditors, seeking to secure a crucial debt relief deal with private investors while also tackling pressing demands from its European partners and the IMF for deeper reforms.
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Fitch cuts Italy, Spain, other euro zone ratings(Reuters) (Yahoo Business 2012-01-27 18:47:36)
Reuters - Fitch Ratings on Friday downgraded the sovereign credit ratings for Italy, Spain, Slovenia, Belgium and Cyprus indicating there is a 1-in-2 chance of further downgrades in the next two years.
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Summary Box: North America props up Ford in 4Q(AP) (Yahoo Business 2012-01-27 18:21:43)
AP - FORD EARNINGS: Ford Motor Co. earned $1.1 billion in the first quarter, excluding a big accounting gain. North American profits jumped 33 percent. They fell elsewhere because of the European debt crisis and slower sales in China.
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Wall St edges lower after GDP data(Reuters) (Yahoo Business 2012-01-27 17:17:55)
Reuters - Stocks slipped on Friday as data showed the U.S. economy grew less than expected in the fourth quarter, while some disappointing earnings added pressure to the market.
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Assets on tax forms missing on Romney financial disclosures(Reuters) (Yahoo Business 2012-01-27 16:53:52)
Reuters - A handful of financial holdings reported by U.S. Republican presidential hopeful Mitt Romney on his tax returns was not declared in earlier government financial disclosures, his campaign acknowledged on Thursday.
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Summary Box: Chevron 4Q profit down 3 pct.(AP) (Yahoo Business 2012-01-27 16:43:43)
AP - STRUGGLING REFINERIES: Rising crude prices cut into fourth-quarter profits at Chevron Corp.'s refineries, which must buy crude to make gasoline and other fuels.