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  • Dollar steadies, shares firm as fresh gains eyed

    April 11, 2013 8:03 AM 143

    LONDON (Reuters) - The dollar hovered near a four-year high against the yen and a rally in world shares slowed on Thursday though markets remain buoyed by Japan's aggressive monetary easing and signs of a recovery in China. "No doubt the new all-time highs seen in the S&P 500 will attract new retail money into the market. There's nothing like being under-invested

  • Report: Armstrong sells Austin estate

    April 11, 2013 7:52 AM 198

    Disgraced cyclist Lance Armstrong has sold his Austin estate to an oil-and-gas rights agent. The Austin American-Statesman reports a deed of trust filed with Travis County last week showed Al Koehler obtained a $3.1 million loan to buy the property, Armstrong's home since 2004. Although county tax rolls listed the 1.7-acre property's value at $3.9 million

  • Jamie Dimon Warns Of More London Whale Actions By Regulators

    April 11, 2013 7:34 AM 182

    Jamie Dimon just warned shareholders that JPMorgan Chase will face more sanctions from regulators in the coming months. In a letter to shareholders, Dimon addressed the "London Whale" scandal that hit the bank last year. The flawed investment strategy in credit derivatives wound up losing more than $6.2 billion. "The London Whale was the stupidest and most embarrassing

  • Rate of employer-based health insurance keeps dropping

    April 11, 2013 4:07 AM 139

    WASHINGTON — The availability of employer-sponsored insurance has fallen by about 10% over the past decade, which has spurred an increase in the overall number of Americans without health insurance, according to a report released today. "This documents that in virtually every state across the country, there has been a steady decline in employers that provide

  • Schwab still roots for the small investor

    April 11, 2013 4:05 AM 156

    Like many business icons, Charles Schwab's great business idea seems like simple common sense: Give small investors the same treatment big investors have always gotten. For Schwab and his eponymously named discount brokerage firm, the first big opportunity began on May 1, 1975, when the Securities and Exchange Commission abolished fixed brokerage commissions

  • Bank of Korea Surprises With No Interest Rate Cut

    April 11, 2013 1:37 AM 128

    Text Size Published: Wednesday, 10 Apr 2013 | 9:26 PM ET South Korea's central bank surprised markets by holding interest rates steady on Thursday, resisting political pressure for a cut and opting to further assess the effects from the government's stimulus steps and tensions with North Korea. The Bank of Korea's monetary policy committee kept its base rate steady

  • N.J. Subway Idea Lives

    April 11, 2013 1:16 AM 123

    Mayor Michael Bloomberg has abruptly rejoined a debate that the Metropolitan Transportation Authority thought it had put to rest last year: whether to extend the No. 7 subway line under the Hudson River to New Jersey. The city Economic Development Corp. released a feasibility study that examined how extending the subway to Secaucus would stimulate ridership

  • GM commits to Opel long-term with $4.95 billion investment

    April 11, 2013 12:15 AM 132

    General Motors has underscored its long-term commitment to Opel with the announcement of a four billion euro ($4.95 billion) investment into the European division over the next four years. The massive financial injection forms the first part of Opel’s new ‘DRIVE!2022′ strategy – a 10-year plan through which GM plans to return Opel to profitability by the middle

  • Taco Bell promises better nutrition — by 2020

    April 10, 2013 9:37 PM 140

    The Mexican fast-food kingpin says it plans to focus on a line-up of more better-for-you food because that's what its target wants. Taco Bell – long-known as a place to load up on low-price, high-calorie and high-sodium grub – wants to fix the high-calorie and high-sodium part. The nation's largest Mexican fast-food chain on Wednesday announced new nutritional

  • Fisher: Fed's bond-buying program could spark eventual inflation

    April 10, 2013 9:05 PM 138

    EL PASO, Tex. (Reuters) - The Federal Reserve's massive bond-buying program could spark unwanted inflation unless the U.S. central bank is dexterous in how it pares back easing, a top Fed official who has long opposed the purchases warned on Wednesday. While so far there are no signs of budding U.S. inflation, the longer term inflationary consequences