Recent Updates
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Profit Boost Perks Up Wal-Mart Shares
Business Law 10/11/2007Wal-Mart (WMT) shares climbed 3% Thursday after the giant retailer surprised Wall Street by boosting its earnings estimate for the third quarter, despite tepid sales. The Bentonville, Ark., company said it now expects to make 68 cents to 69 cents a s...
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Treasurys Dip As Rate Cut Seems Unlikely
Business Law 10/10/2007[##_1L|1353340092.jpg|width="128" height="81" alt=""|_##]Treasury prices fell Wednesday amid a growing consensus in the bond market that the Federal Reserve won't cut rates this month. Minutes from the Fed's September monetary policy meeting, release...
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GE to close some plants in Brazil
Business Law 10/07/2007General Electric Co. said Thursday it will close a number of lighting plants in Brazil and the U.S. as part of a plan to restructure its consumer and industrial division, potentially cutting more than 1,400 jobs in the process. GE Consumer & Indu...
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Ford struggling to win back sales, share
Business Law 10/03/2007Ford Motor's biggest rival, General Motors, has a tentative contract deal with the United Automobile Workers union and relatively stable sales. Ford has neither. Sales at Ford fell 18.2 percent in September, closing out its 2007 model year on a disap...
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Credit crisis strikes UBS, Citi, Credit Suisse
Business Law 10/01/2007[##_1L|1287098335.jpg|width="128" height="81" alt=""|_##]The credit crisis struck at the heart of the global financial industry on Monday as Swiss bank UBS AG said it faced a shock loss in the third quarter and Citigroup warned its profits had collap...
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Qualcomm Hires Apple Lawyer; Apple Taps Oracle Lawyer
Business Law 09/28/2007[##_1L|1017122082.jpg|width="120" height="138" alt=""|_##]Qualcomm Inc., the second-biggest maker of chips that run mobile phones, named Apple Inc. general counsel Donald Rosenberg as its new top lawyer to help defend a series of patent and antitrust...
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Disney Will Shut Down Cellphone Service
Business Law 09/28/2007[##_1L|1111371765.jpg|width="69" height="80" alt=""|_##]A year after shuttering its ESPN cellphone company, Walt Disney Co. said it is closing its Disney cellphone service. Walt Disney launched Mobile ESPN and Disney Mobile last year as mobile virtua...
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Wal-Mart expands $4 prescription drug program
Business Law 09/27/2007Wal-Mart Stores Inc said on Thursday it has added more medicine to its $4 prescription program, including certain new generic drugs, as part of its push to expand its health and wellness services.The world's largest retailer said it will make availab...
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Mutual-Fund Suit Vs Citigroup Dismissed
Business Law 09/27/2007[##_1L|1062093828.jpg|width="120" height="88" alt=""|_##]A federal judge in New York on Wednesday dismissed a lawsuit against Citigroup Inc. that alleged it didn't disclose to mutual-fund customers millions of dollars in savings allegedly pocketed by...
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Vonage Gets Another Black Eye
Business Law 09/26/2007[##_1L|1394250783.jpg|width="120" height="138" alt=""|_##]For Vonage, things have gone from bad to worse. On Sept. 25, a jury found that Vonage infringed on Sprint Nextel's patents. It asked Vonage to pay $69.5 million in damages and a 5% royalty rat...
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Fed's Bernanke predicts further mortgage turmoil
Business Law 09/20/2007More delinquencies and foreclosures can be expected in the subprime, adjustable-rate mortgage market as borrowers face interest-rate resets, Federal Reserve Chairman Ben Bernanke said Thursday. In testimony to the House Financial Services Committee, ...
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Investors await Fed decision on rate cut
Business Law 09/18/2007Federal Reserve policymakers opened a long-awaited meeting on interest rates Tuesday amid expectations of a move to revive a sputtering economy, but with some arguing against a return to easy-money conditions blamed for the problems.The Federal Open ...