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China factory activity shrinks for first time in seven months: flash PMI

admin — Thu, 23 May 2013 06:32:57 +0000

BEIJING (Reuters) – China’s factory activity shrank for the first time in seven months in May as new orders fell, a preliminary manufacturing survey showed, entrenching fears that its economic recovery has stalled and that a sharper cooldown may be imminent.

British soldier hacked to death in suspected Islamist attack

admin — Thu, 23 May 2013 05:32:26 +0000

LONDON (Reuters) – A British soldier was hacked to death by two men shouting Islamic slogans in a south London street on Wednesday, in what the government said appeared to be a terrorist attack.

Sell cheap fuel and profit – Delta Air Lines’ refining 101

admin — Thu, 23 May 2013 04:32:51 +0000

* Delta’s Trainer refinery could take 50,000 bpd of Bakken crude by end year

GM Chevy Spark electric car’s price 38 percent less than sibling hybrid Volt’s

admin — Thu, 23 May 2013 03:32:14 +0000

DETROIT (Reuters) – The Chevrolet Spark all-electric subcompact car will cost U.S. buyers as much as 38 percent less than what it takes to buy its larger sibling, the hybrid Volt, General Motors Co said on Thursday.

Bank of America praised, criticized for homeowner relief

admin — Thu, 23 May 2013 02:32:53 +0000

It is rare for a megabank to get praised these days, especially by prosecutors.

Bank of America, however, received plaudits from Iowa Attorney General Tom Miller for providing $ 27.9 billion in consumer relief under the national mortgage settlement, more than any of the other four banks signed on to the agreement.

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Australia shares extend losses on Bernanke comment, China PMI

admin — Thu, 23 May 2013 01:33:56 +0000

SYDNEY, May 23 (Reuters) – Australian shares fell 1.5 percent in late morning trade on Thursday, after Wall Street retreated over worries that the U.S. Federal Reserve may consider winding back its…

Yahoo’s Tumblr Buy Is a High-Stakes Gamble

admin — Thu, 23 May 2013 00:32:52 +0000

Commentary: Good luck with this one, Marissa Mayer.

Senate committee advances drug compounding bill

admin — Wed, 22 May 2013 23:32:32 +0000

NEW YORK (Reuters) – A U.S. Senate committee on Wednesday unanimously approved legislation that would increase federal oversight for companies that compound and sell sterile drugs across state lines.

U.S. Justice Dept tells lawmakers no bank is too big to jail

admin — Wed, 22 May 2013 22:32:50 +0000

WASHINGTON, May 22 (Reuters) – A Justice Department official insisted on Wednesday that no financial company is too big to jail, in the department’s latest effort to backpedal from statements made in…

Stop celebrating our falling deficits

admin — Wed, 22 May 2013 21:33:55 +0000

It’s time to stop celebrating last week’s Congressional Budget Office report. Our deficits aren’t dropping because we’re doing something right. They’re dropping because we’re doing everything wrong.

My initial piece on the CBO report led with the surprising news that the agency had knocked more than $ 600 billion off its projections for the deficit over the next decade. But as I wrote then, the deficit is following a weird path. It’s not a gradual decline. It’s not a temporary uptick as we spend to create jobs followed by a sharper decline as the economy recovers. It’s a sharp decline followed by a gradual rise — it looks a bit like a Nike Swoosh.

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