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IRSs Lerner to plead Fifth Amendment at hearing
WASHINGTON (MarketWatch) -- Internal Revenue Service official Lois Lerner will plead the Fifth Amendment at a House Oversight Committee hearing Wednesday about the IRS's targeting of conservative political groups, reports said Tuesday. Lerner's lawyer notified Committee Chairman Darrell Issa about her decision not to answer questions in a letter on Tuesday. The hearing is the third ...
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Intuit posts higher profit sales
-2.93% on Tuesday reported a fiscal third-profit of $822 million, or $2.71 a share, compared with a profit of $734 million, or $2.42 a share, for the year-earlier period. Revenue rose to $2.18 billion from $1.93 billion. Adjusted profit was $2.97 a share. Analysts polled by FactSet on average were expecting the company to post a profit of $2.93 a share, on revenue of $2.18 ...
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NetApp to lay off 900 workers shares rise
as part of the company's earnings report for the fourth fiscal quarter , which saw earnings slip on a slight increase in revenues. NetApp shares were up 2.1% in after-hours trades on Tuesday following the report. The company also projected a revenue range of $1.48 billion to $1.58 billion for the current quarter, slightly below Wall Street's consensus forecast of $1.6 billion for the ...
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NetApp earnings slip but in line with estimates
SAN FRANCISCO (MarketWatch) -- NetApp Inc. reported a decline in net income for its fourth fiscal quarter on Tuesday afternoon, coming largely in line with Wall Street's expectations. For the period ended April 26, ...
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U.S. stocks close higher on Fed QE comments
+0.17% hitting record highs, after comments from two Federal Reserve officials suggested that the central bank is not close to tapering its bond-buying program. The Dow gained 52.30 points, or 0.3%, to end at 15,387.58 and the S&P 500 gained 2.87 points, or 0.2%, to 1,669.16. The Nasdaq ...
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GLOBAL MARKETS-Shares end higher as eyes turn to Fed
* Investors looking for clarity on Fed stimulus program * Dollar index firmer but down from near three-year high * Yen dips after Japanese minister says seeks 'balance' for currency * Commodities fall, gold and oil weaker on the day ...
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GLOBAL MARKETS-Shares edge higher SP 500 at fresh all-time high
* Investors looking for clarity on Fed stimulus program * Dollar index firmer but down from near three-year high * Yen dips after Japan minister says seeks 'balance' for currency * Commodities fall, gold and oil weaker on the day ...
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Is China Pushing away from Diet of U.S. Treasuries Meet the New Old-Boy Network Banks Finally Draw a Line
YahooFinance ) In February, China held $1.251 trillion in U.S. Treasuries. In March, the figure dipped to $1.250 trillion. That's a billion dollar change in a month. Is that a big deal? On the surface, it may not seem like it. But if China begins to unwind from U.S. debt at the same time the Federal Reserve scales back its quantitative easing, that combination could pose trouble for ...
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Wall St gains on Fed stimulus talk
Wall Street gained, touching records, after Federal Reserve Bank of St. Louis President James Bullard said the central bank should maintain its current bond-buying program to help bolster growth. In a speech in Frankfurt, Germany, Bullard recommended the Fed "continue with the present quantitative easing program, adjusting the rate of purchases appropriately in view of incoming ...
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Wall Street stocks gain
Source: Reuters US stocks have gained today, after Home Depot raised its profit outlook and JPMorgan's chief executive won a vote of confidence from shareholders. Shares of the two companies helped lift the blue-chip Dow as the broader market picked up steam in the early afternoon, sending indexes to fresh intraday records. Comments from a top Federal Reserve official also boosted the ...
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Apples Tim Cook is Wall Street hero for a day
AAPL ) for its creative tax policies, investors were cheering on CEO Tim Cook as he defended the company and pushed Congress to overhaul the tax code. The general consensus among traders on StockTwits was that Cook looked like a capable leader compared with the elected officials doing the ...
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Obama announces nominees for electoral commission
WASHINGTON (MarketWatch) -- President Barack Obama announced his intent to appoint 10 people to the Presidential Commission on Election Administration, which is tasked with finding ways to shorten lines at polling places, promote the efficient conduct of elections, and provide better access to the polls for all voters. Obama intends to nominate Robert Bauer, a partner at Perkins Coie and ...
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Oil futures close lower after four-session climb
SAN FRANCISCO (MarketWatch) -- Oil futures to log their first decline in five sessions. Traders awaited this week's updates on U.S. petroleum supplies and the June crude futures contract expired at the session's close. June ...
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Gensler acted against advice on MF Global
found that Chairman Gary Gensler acted against the advice of the CFTC's general counsel and ethics official when he decided to recuse himself from the MF Global investigation because of his relationship with Jon Corzine when the pair both were at Goldman Sachs. The report, released by Sen. Richard Shelby of Alabama, also raised concerns that the CFTC staff and management didn't learn ...
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P.M. Kitco Roundup Gold Ends Down But Up From Daily Low U.S. Federal Reserve Events Loom
Comex gold futures prices ended the U.S. day session moderately lower Tuesday. The market saw a downside technical correction and some chart consolidation following a surge higher in late trading Monday. Comex June gold last traded down $9.30 at $1,374.80 an ounce. Spot gold was last quoted down $17.00 at $1,377.50. July Comex silver last traded down $0.147 at $22.44 an ounce. The gold market ...
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Herbalife hires new auditors
Investors seemed pleased with the progress, sending shares of Herbalife up sharply in afternoon trading. Herbalife has been in the spotlight for several months, after hedge fun ...
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Stocks Investors shift focus to Bernanke
Investors are eager to hear what he has to say about the central bank's stimulus policies, which have been a big driver of the stock rally. A number of Fed officials ...
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Welcome to the new Wall Street where back-office work trumps backslapping
$17 billion bond, it eschewed Wall Street's traditional tactics. Instead of flying well-groomed bankers to Cupertino, Calif., to charm Apple's top executives with PowerPoint presentations, Deutsche relied on iTunes. The German bank has handled the back-office work for Apple's online store in recent years, according to people familiar with the ...
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Gold ends lower market looks for Fed policy cues
fell on Tuesday , giving back a portion of the previous session's gain as the market awaited further hints from the Federal Reserve on when the central bank might start easing back on its stimulus plan. On Wednesday, Fed Chairman Ben Bernanke will testify before Congress and the FOMC will release minutes from its latest policy meeting. June ...
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Microsoft announces Xbox One game console
-0.16% announced its new videogame console called the Xbox One on Tuesday. At an event at its Redmond, Wash., headquarters, the company introduced the new console, which it dubbed as the "ultimate all-in-one home entertainment system." The system will come with a new generation of the Kinect sensor. No launch date or price has yet been given at the ...
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Feds Bullard No tapering with inflation so low
WASHINGTON (MarketWatch) - There is no case for slowing down the pace of the Federal Reserve's bond-buying program given the low level of inflation, said St. Louis Fed President James Bullard, on Tuesday. "Inflation is pretty low in the U.S. I can't envision a good case to be made for tapering unless the inflation situation turns around and we are more confident than we are today ...
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J.P. Morgan declares a 38-cent quarterly dividend
+1.85% announced a quarterly dividend on Tuesday of 38 cents a share on outstanding common shares. The dividend will be paid on July 30, 2013. This is an increase from 30 cents a share from the previous quarter. Five management proposals were approved, including the election of the directors and the four shareholder proposals were rejected, including splitting the chairman and CEO role, at the ...
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PayPal will be in 2M retailers by end of year
-1.12% president David Marcus said Tuesday that the provider of online payment processor would have 2 million locations using its services in retail outlets by the end of the year. Speaking at a company event at PayPal's San Jose, Calif. headquarters, Marcus also said Radio ...
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Feds Dudley unsure if next QE move up or down
WASHINGTON (MarketWatch) - New York Fed President William Dudley said Tuesday that he is not sure which way the central bank will adjust the size of its bond purchase program given the uncertain economic outlook. In a speech to the Japan Society, Dudley said he expects to see, at some point, enough evidence of a substantial improvement in the labor market to reduce the pace of asset purchases. ...
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Coming up St. Louis Fed Bullards speech
WASHINGTON (MarketWatch) - St. Louis Fed President James Bullard will discuss monetary policy in a low-rate environment at a conference in Frankfurt at 11:30 a.m. Eastern. Bullard, a voting member of the Fed's interest-rate committee this year, has been an independent voice at the central bank. Prior to the last Fed meeting, he was one of a handful of Fed officials to express concern about ...
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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