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  • A New Era of Branch Wars at Nation's Big Banks

    April 10, 2013 11:55 AM 147

    Text Size Published: Wednesday, 10 Apr 2013 | 6:40 AM ET Even in the face of real estate and transaction costs, bank branches are a critical tool to attract new customers—if only serving as expensive billboards for the company in a choice-heavy world. "It's going to be very difficult, to convince people…that you're a major presence in a market and you're

  • The real reason corporate tax reform is going nowhere fast

    April 10, 2013 11:44 AM 147

    Imagine being a brain surgeon given the job of fixing a tumor without being able to see its true size or shape. That wouldn't work too well, would it? It would be even worse if you thought you knew the tumor's size and shape but you had it wrong. Sure, that sounds ridiculous. But that's the situation in which we find ourselves when it comes to fixing

  • India's Kingfisher submits plan to regulator to restart airline: CEO

    April 10, 2013 11:40 AM 157

    NEW DELHI – India's grounded Kingfisher Airlines has submitted a plan to the country's aviation regulator to restart operations, asking for its license to be renewed with the help of funds from its parent UB Group, its Chief Executive said on Wednesday. "We have given a complete plan ... which includes our schedule that we plan to operate, the aircraft

  • Major Dell shareholder favours recent buyout offers

    April 10, 2013 11:20 AM 135

    Southeastern Asset Management expressed its preliminary support for the alternative offers in a letter sent Tuesday to the four-person committee overseeing the negotiations. The development doesn't come as surprise, given that Southeastern has been the most vocal opponent to Dell Inc.'s plan to sell itself to Michael Dell and Silver Lake Partners for $13.65 per share

  • WTO cuts 2013 trade forecast after record slow growth in 2012

    April 10, 2013 10:36 AM 105

    GENEVA (Reuters) - The World Trade Organization slashed its forecast for global trade growth in 2013 to 3.3 percent from 4.5 percent on Wednesday and said 2012 saw only a 2.0 percent increase, the smallest annual rise since records began in 1981. WTO Director General Pascal Lamy warned that 2013 could turn out worse than expected, especially because

  • Cargo piles up as two-week Hong Kong port strike drags on

    April 10, 2013 9:12 AM 133

    HONG KONG (Reuters) - Striking dock workers at a port operator backed by Hong Kong's richest man Li Ka-shing failed to reach a deal for higher pay on Wednesday, prolonging a dispute that could cost the city its position as the world's third-largest container port. Roughly 500 workers, who say they have not had a pay rise in 10 years even as the cost of living

  • Sequestration doesn’t slow DOJ’s tax oversight

    April 10, 2013 9:00 AM 139

    Tax day is less than a week away, and the Justice Department is firing a warning shot at would-be tax evaders: We’re still on to you. The DOJ Tax Division announced Tuesday that federal attorneys have collected more than $290 million in fiscal 2012 and prevented more than $1.1 billion in illegal refunds. Those numbers are up from the $112 million collected

  • Stock futures point to higher start

    April 10, 2013 8:14 AM 155

    LONDON (Reuters) - Stock index futures pointed to a higher open on Wall Street on Wednesday, with the Dow Jones set to scale new peaks after hitting a record closing high in the previous session. Futures for the Dow, the S&P 500 and the Nasdaq 100 were up between 0.2 percent and 0.3 percent at 2.50 a.m. ET. European shares advanced, propped up by miners

  • Flags to fly at half-staff for Thresher victims

    April 10, 2013 8:09 AM 126

    CONCORD, N.H. (AP) — New Hampshire Gov. Maggie Hassan has directed flags to fly at half-staff in recognition of the 50th anniversary of the loss of the USS Thresher submarine. The 278-foot-long submarine sank in 8,500 feet of water 220 miles off Cape Cod, where it remains. The USS Thresher, built at Portsmouth Naval Shipyard and based in Connecticut

  • NY: More companies to release political spending

    April 10, 2013 7:03 AM 155

    ALBANY, N.Y. — Snapple, Harley-Davidson and Southwest Airlines are among the Fortune 500 companies that are agreeing to disclose more information about spending on political causes. A month ago, PepsiCo agreed to the disclosures sought by New York state Comptroller Thomas DiNapoli. DiNapoli had been using his authority as the trustee of New York's $152 billion