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World cell phone leader Nokia (NOK1V.HE: Quote, Profile, Research, Stock Buzz) is expected to bolster its offering of high-end phones at a media and industry event in Barcelona on Tuesday, where it is also due to outline a push into Internet services.
Nokia still dominates the market for smartphones — handsets with computer-like features such […]
Filed under: economics by Wolf
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Asian hedge fund managers are waiting with dread to see if tough new short selling restrictions sweep across the region after Australia and Taiwan joined U.S. and UK regulators in cracking down on the practice.
Major Asian markets, such as Japan and Hong Kong, have so far held their fire. But industry executives, many angry […]
Filed under: economics by Wolf
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Annual growth in an Australian index of leading indicators slowed in June by the most since 2000, reinforcing the central bank's assessment that the economy is cooling enough for it to cut borrowing costs.
The annualized growth rate of the leading economic index slowed to 2 percent from 2.4 percent in May, Westpac Banking […]
Filed under: economics by Wolf
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Wachovia Corp., the nation’s fourth largest-bank, said Monday that it is leaving the wholesale mortgage lending business.
Beginning July 25, the company will no longer offer mortgages through brokers, joining other lenders making similar moves to exit the troubled sector. Rival Bank of America (BAC, Fortune 500) got out of the business several months […]
Filed under: economics by Wolf
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Companies suffered $9.5 billion in damage in last week’s quake in central China, the government said Monday.
Some 14,207 companies in Sichuan province and surrounding areas were damaged by the May 12 quake and 1,387 of their employees killed, a deputy industry minister, Xi Guohua, said at a news conference.
Independent estimates have put total losses […]
Filed under: economics by Wolf
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Seven out of 10 seriously delinquent subprime mortgage borrowers are still not getting the help they need to keep their homes, according to a report released Tuesday by state officials working to stem the foreclosure crisis.
"We’re still way behind," said Iowa Attorney General Tom Miller, who helped form the State Foreclosure Prevention Working Group, […]
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Sears Holdings Corp. said Tuesday it plans on offering a 10% bonus to anyone who converts their fiscal-stimulus checks into a Sears or Kmart gift card.
The announcement came as many scrambled to turn in their taxes, which are due at midnight. The Internal Revenue Service will begin sending the checks in early May.
Customers can […]
Filed under: economics by Wolf
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Pier 1 Imports Inc. said Thursday it swung to a fiscal fourth-quarter profit, helped by improved gross profit margins, higher same-store sales and lower expenses.
The home furnishing retailer reported earnings of $13.7 million, or 16 cents per share, compared with a loss of $58.7 million, or 67 cents per share, in the prior year.
Analysts […]
Filed under: economics by Wolf
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Congress is considering dueling fiscal plans for the upcoming year that illustrate the unappetizing budget choices facing the next president.
Democrats are backing a $3 trillion budget plan that would produce a balanced budget in a few years and provide generous increases for many domestic programs, but only by assuming major tax increases when President […]
Filed under: economics by Wolf
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Solar power will be a bright investment prospect as the appetite for green energy grows, even though the global credit crisis is making banks more wary of providing financing.
In the short term, the sector will also have to contend with a shortage of silicon, a key ingredient for solar cells that turn sunlight into […]
Filed under: economics by Wolf
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