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Investor loses suit over ABCP sales
BERTRAND MAROTTE MONTREAL ? A Quebec Superior Court Justice Richard Wagner has ruled against Hy Bloom's contention that an asset-backed commercial paper (ABCP) restructuring agreement approved last year in Ontario courts goes too far in providing a
Northern Rock losses halve to £139m
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Tanfield accelerates after US offer for its electric car business
Shares in Tanfield are motoring after the group received a conditional offer for its electric vehicles business from its US partner. Smiths Electric Vehicles US - established by Tanfield in 2009 - is now offering £37m in cash for all its electric
U.K. Manufacturing Contracts for the First Time in Five Months
March 10 (Bloomberg) -- U.K. factory production unexpectedly fell in January for the first time in five months, a sign manufacturing is struggling to shake off the recession. Prime Minister Gordon Brown, campaigning today for the election, said that the
Tullow nears Uganda tie-up with Total and Cnooc
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12 ways to cut your tax bill
Late last year, Congress extended the valuable homebuyer break beyond first-timers. So if you already owned a home but bought a new one after Nov. 6, 2009, you may be entitled to a credit worth 10% of the purchase price, up to $6,500. Even if you buy in
Eon tones down outlook for 2010
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J Crew beats in quarter, posts robust sales
SAN FRANCISCO (Reuters) - Apparel retailer J Crew Group Inc on Tuesday posted a net profit in its holiday quarter that beat Wall Street estimates, helped by tight inventory and double-digit sales growth. The company, which caters to urban
Few companies got high marks on food marketing to children
Mars Inc. did well while McDonald's Corp. got a mediocre mark in a 'report card' on food marketing to children released Tuesday by a watchdog group. But at least neither of those companies got the grade received by most other companies included in the
MGM Said to Consider Prepackaged Bankruptcy
With about 10 days to go before the next round of bids are due, Metro-Goldwyn-Mayer is still considering other options to help reorganize its almost $4 billion debt load. They include a potential stand-alone bankruptcy plan, people with direct knowledge
AIG Could Learn Fate of Taiwan Unit Deal Soon
American International Group could learn the fate of the stalled $2.2 billion sale of its Taiwan unit Nan Shan Life Insurance as early as Thursday, when Taiwan's parliament will review a report on the deal from the top financial regulator. The Financial
China's Ansteel sees iron ore benchmark deal in April
BEIJING (Reuters) - A deal on benchmark iron ore prices is expected to be reached in April, the president of China's Anshan Iron &Steel Group said on Wednesday, but urged the big ore suppliers to be more reasonable in their demands. Negotiations in 2009
FCC National Broadband Plan: Long Haul Expected
Parts of the National Broadband Plan, due Mar. 16, are already meeting with opposition and are likely to take many years to put in place Paul Karpowicz has nothing against broadband. But he has no plans to take part in a government effort to bring it to
AIG could learn fate of Taiwan unit deal soon
By Rachel Lee and Faith Hung TAIPEI (Reuters) - American International Group could learn the fate of the stalled $2.2 billion sale of its Taiwan unit Nan Shan Life Insurance as early as Thursday, when Taiwan's parliament will review a report on
Companies' appetite for investing in Britain is being sucked dry
Our anaemic trade figures come despite a weak currency which reflects the dire state of our trading partners, principally Europe. It also reflects increased competition in our overseas markets from the likes of China and India. So even the old trick of
Kroger’s Sales Rise, but Profit Slips 27%
The company also forecast a decline in profit for its current fiscal year. Fourth-quarter profit fell to $255.4 million, or 39 cents a share, from $349.2 million, or 54 cents a share, a year earlier, the company said. Sales in the period, which ended
MGM Said to Be Considering an Arranged Bankruptcy
With about 10 days to go before the next round of bids are due, Metro-Goldwyn-Mayer is still considering other options to help reorganize its almost $4 billion debt load. The options include a potential stand-alone bankruptcy plan, people with direct
Used Car Sales Down 8.5% In Feb
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Europe eyes ban on CDS contracts used against Greece
German Chancellor Angela Merkel called on Washington to back proposals for a restrictions on credit default swaps used to target countries in trouble. 'The US needs to make a gesture. We believe that the persistent speculation against the eurozone
Government's plan to cut the deficit is lacking something ... the cuts
Many dismal scientists have, of late, predicted a sterling crisis if Britain acts quickly to address its appalling public deficit none more so than those at UBS. But I wonder if any of them have noticed the recent slide in sterling? If so, they may also
Kroger’s Sales Rise, but Profit Declines 27%
The Kroger Company said on Tuesday that its fourth-quarter profit fell 27 percent as rising health care and labor costs offset a 7 percent increase in sales. The company also forecast a decline in profit for its current fiscal year. Fourth-quarter profit
MGM Said to Be Considering a Prepackaged Bankruptcy
With about 10 days to go before the next round of bids are due, Metro-Goldwyn-Mayer is still considering other options to help reorganize its almost $4 billion debt load. The options include a potential stand-alone bankruptcy plan, people with direct
Krogers Sales Rise, but Profit Declines 27%
The Kroger Company said on Tuesday that its fourth-quarter profit fell 27 percent as rising health care and labor costs offset a 7 percent increase in sales. The company also forecast a decline in profit for its current fiscal year. Fourth-quarter profit
BofA scraps overdraft fees for card users
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Former Sun CEO says Apple's Jobs threatened to sue
The former chief executive of Sun Microsystems Inc. wrote on his personal blog Tuesday that Apple Inc.'s Steve Jobs once threatened to sue the company in 2003. In addition, Microsoft Corp. later implied a legal threat related to Sun's OpenOffice, an
Toyota Down Despite 50% Growth In U.S. New Car Sales
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Toyota’s U.S. Sales May Spike 30% This Month, Edmunds.com Says
March 10 (Bloomberg) -- Toyota Motor Corp., battling a two- month slide in U.S. sales amid recalls of millions of vehicles, may post a sales spike this month after introducing an incentive campaign, Edmunds.com said. Sales in March may jump 30 percent
Merlin still open to listing
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SDI, LG Chem to Gain on Battery Sales, Korea Investment Says
March 10 (Bloomberg) -- South Korean rechargeable battery makers stocks will outperform the benchmark index on increased use in mobile devices, autos and electricity grids, according to Korea Investment Trust Management Co. Samsung SDI Co. and LG Chem
San Miguel Rises in Manila as Directors Initiate Tender Offer
March 10 (Bloomberg) -- San Miguel Corp., the Philippines largest food and drinks maker, rose to the highest in more than two years in Manila trading after a company controlled by its directors initiated a tender offer. The stocks Class B shares, which
