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Herbalife hires PricewaterhouseCoopers as auditors
+3.07% said Tuesday it has hired PricewaterhouseCoopers LLC as independent auditors. The move comes after Herbalife's previous auditor KPMG LLP resigned due to unlawful activities by a then-partner at the firm. Shares of Herbalife resumed trading after being halted briefly and are up almost ...
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Lew urges delay on bill to limit big banks
WASHINGTON (MarketWatch) - Treasury Secretary Jacob Lew urged senators to delay bringing forward a measure to limit too-big-to-fail banks until after the Dodd-Frank legislation has been fully implemented. "I think this is not the time to be enacting big changes to Dodd-Frank or to the regulatory system," Lew said at a Senate Banking Committee hearing. After the law is implemented, ...
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Google extends lead in display ads Facebook slips
-0.69% widened its lead in U.S. online display ads, capturing 24.1% of the market's $3 billion revenue in the first quarter, IDC reported Tuesday. That's a gain of 3 percentage points from the year-earlier period. Yahoo ...
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Proposal to split JP Morgan top roles defeated
+1.95% said on Tuesday that shareholders defeated a proposal to split the roles of chairman and chief executive and make the chairman of the board an independent director. The proposal received 32.2% of the vote. A similar proposal at last year's shareholder meeting received 40% of the ...
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Feds Bullard backs continuing QE program
WASHINGTON (MarketWatch) - The Federal Reserve should continue with its present bond-buying program and adjust the rate of purchases in view of incoming data on growth and inflation, said St. Louis Fed President James Bullard on Tuesday. In a speech to an economic conference in Frankfurt, Bullard said the Fed's bond buying, commonly known as quantitative easing, is the best policy option at ...
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Yahoo CEO stresses plan to keep Tumblr independent
+1.62% Chief Executive Marissa Mayer on Tuesday touted the potential of the Web portal's $1.1 billion acquisition of Tumblr telling CNBC, "We bought a growth opportunity." Mayer also reaffirmed Yahoo's intention to let Tumblr remain an independent entity, calling the blogging site "a passionate community." "We don't want to mess that up." Tumblr CEO ...
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JP Morgan director hints at risk committee change
+1.95% , suggested on Tuesday that the composition of the board's risk committee might change in the future. "On the composition of the risk committee, you should stay tuned," Raymond, the former chief executive of Exxon Mobil, said at the bank's annual shareholder meeting. The risk committee has been criticized for lack of oversight in the massive losses that stemmed from a ...
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J.P. Morgan says all businesses profitable
+1.95% said on Tuesday that the bank has consistently earned a fair profit for its shareholders and that all its businesses are currently profitable. Speaking at the company's annual shareholder meeting, Dimon said the bank had successfully navigated the recent serious financial crisis and that it would serve as a "port of safety" in the next financial storm. Dimon spoke before ...
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Public school spending sees first drop in decades
WASHINGTON (MarketWatch) -- Public education per student dropped in 2011 for the first time in nearly four decades, the Census Bureau said Tuesday. The 50 states and the District of Columbia spent $10,560 per student, a drop of 0.4%. That's the first drop since the agency began collecting data on annual basis in 1977. Property taxes accounted for 65.6% of revenue from local sources for ...
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Medical examiner cuts Moore Okla. death toll
While fears remain that the count could again rise -- the medical examiner's language retains the qualifier "at least" -- the updated figure cuts the one that had stood overnight, 51 dead, more than in ...
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Apple falls as CEO testifies but techs edge up
+0.25% fell Tuesday as Chief Executive Tim Cook prepared to testify before the U.S. Senate on corporate taxes. Apple was down 1.7 % at $436. But technology stocks were mostly higher, as shares of Advanced Micro ...
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Apple slips analyst sees more smartphone pressure
SAN FRANCISCO (MarketWatch) -- Apple Inc. saw its shares slip more than 1.5% to $436.14 on Tuesday morning. In a note to clients, Jefferies & Co. analyst Peter Misek said he sees ...
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Home Depot is the biggest Dow gainer
+2.92% shares rose 3.1% to $79.12 on Tuesday to be the biggest Dow gainer after the Atlanta-based retailer reported a better-than-expected first-quarter profit and raised its outlook for the year. The company cited strength in the housing market that boosted demand for kitchen cabinets, tools and other home-improvement ...
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J.P. Morgan up 1.7 second-biggest gainer in Dow
terms of use . Historical and current end-of-day data provided by SIX Financial Information. Intraday data delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc. All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More information ...
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U.S. stocks open higher with Fed speakers on tap
NEW YORK (MarketWatch) -- U.S. stocks opened higher on Tuesday, with investors expected to scrutinize speeches by two Federal Reserve officials for any clues as to when the central bank may begin to scale back its $85-billion-a-month asset-purchase program. St. Louis Fed President James Bullard and New York Fed President William Dudley will give speeches on Tuesday. The Dow Jones Industrial ...
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Lew sees loosening of underwriting standards
WASHINGTON (MarketWatch) -- Regulators have noticed a loosening of underwriting standards in some markets, in particular in certain real-estate investment trusts, Treasury Secretary Jacob Lew said on ...
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GLOBAL MARKETS-Shares edge higher but crude oil weakens
* Investors looking for clarity on Fed stimulus program * Dollar index firmer, but down from near 3-year high * Yen dips after Japanese minister says seeks 'balance' for currency * Commodities fall, gold and oil weaker on the day By Ryan Vlastelica NEW YORK, May 21 (Reuters) - Stock markets around the world edged higher on Tuesday amid signs of improving growth, even though questions ...
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Transition to higher interest rates ‘could be very painful’ OSFI’s Julie Dickson
Canada's banking watchdog says the transition to higher interest rates - when it comes - could be "very painful."Like those in most developed countries, interest rates have been at emergency lows for years. And the Bank of Canada is not expected to raise its benchmark rate from its current level of 1 per cent until late next year or early ...
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Indexes edge higher on Wall Street in early trade
Mizzou basketball coach Frank Haith had high hopes for versatile recruit Negus Webster-Chan. He played him extensively early on, before ...
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ADHD co Alcobra to raise $25m on Nasdaq today
Sources inform ''Globes'' that Alcobra Pharmaceuticals Inc., which is developing a treatment for attention deficit hyperactivity disorder (ADHD) will hold its Nasdaq IPO tonight (Israel time) and announce the results tomorrow. Sources said that the company obtained positive feedback during its road show. Just before the road show, the company expanded its prospectus from ...
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Home Depot Main Streets Housing Recovery Helps Impress Wall Street
Wall Street 's predictions. So good were the figures that Home Depot raised its forecast for the year. Looking ahead, Home Depot expects to make $3.52 a share in 2013, up from an earlier forecast of $3.37 a share. Sales should increase by 2.8%, the company says, again more than the previous forecast of 2%. Given that Home Depot favors conservative guidance, those numbers could easily be ...
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GLOBAL MARKETS-Shares flat ahead of Bernanke euro edges lower
* Shares flat ahead of Bernanke testimony on Wednesday, Home Depot rallies * Dollar index firmer, but down from near 3-year high * Yen dips after Japanese minister says seeks 'balance' for currency * Commodities fall, gold and oil weaker on the day By Ryan Vlastelica NEW YORK, May 21 (Reuters) - Stock markets around the world were little changed on Tuesday as investors awaited an update ...
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Wall Street starts slightly higher eyes on Fed
US stocks opened slightly stronger on Tuesday after the S&P 500 hit yet another intraday record in the previous session, with markets expected to drift sideways ahead of Congressional testimony ...
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European shares erase losses after Wall St open
LONDON | Tue May 21, 2013 10:05am EDT LONDON May 21 (Reuters) - European shares reversed earlier losses to trade flat on Tuesday, taking heart from solid opening gains on Wall Street. The FTSEurofirst 300 was flat at 1,251.59 points at 1400 GMT , recovering from a session low of 1,243.96 after U.S. stock markets shrugged off concerns about a possible end to the Federal Reserve's ...
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African Development Bank to host Innovative Financing Seminar on Infrastructure and Diaspora bonds
AfDB's annual meetings in Morocco on May 29, 2013. One of the main objectives of the seminar to be at held at the Palmeraie Golf Palace in Marrakech, themed "Financing African Structural Change - Infrastructure and Diaspora Bonds" is to raise awareness of all stakeholders in the role that infrastructure and diaspora bonds can play in catalyzing financing to address the existing ...
Kyrgyzstan Featured
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Kyrgyzstan must stick to long-term development plans
While news of the political unrest and government change in early 2010 dominates the world headlines, Kyrgyzstan faces an uncertain future as long-term plans for infrastructure development are thrown into disarray and uncertainty.
Kyrgyzstan is one of the poorest countries in Central Asia and stands to benefit greatly from long-term development plans initiated under the auspices of the Central Asian Regional Economic Cooperation (CAREC) Program, if the interim government can move on from the current political crisis and stabilize the country’s economy and political future. Read more
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