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Essar Likely to Sign Pact with Chinese Bank for $1 Billion Loan
Essar Oil Ltd. (500134.BY) will likely sign an initial agreement with a Chinese bank Tuesday for a $1 billion loan as part of the Indian company's efforts to tap overseas funds to refinance expensive local debt, a person with direct knowledge of the matter said Monday.The likely deal with China Development Bank will be supported by an agreement to supply fuel products from Essar's ...
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Citi Names New CEOs of CitiMortgage Private Bank and Citi Holdings -Memo
Citigroup Inc. (C) shuffled the top executives of several businesses including its private bank and mortgage unit and the unit that houses non-core businesses and assets.Jane Fraser will become chief executive officer of CitiMortgage after current chief executive Sanjiv Das decided to leave the bank for other unspecified opportunities, according to a memorandum Monday from Citi's Chief ...
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JPMorgan Dimon’s set to face shareholder reckoning over dual roles
Jamie Dimon and the 10 other directors of JPMorgan Chase take the stage in Tampa, Fla., on Tuesday, to face shareholders who can take comfort in a rising stock price and a prospering bank. But those same shareholders may also deliver a humbling rebuff to Dimon and the ...
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Seamless and GrubHub to merge
NEW YORK Rival online takeout services Seamless North America and GrubHub on Monday announced plans to combine and create a new company covering more than 20,000 restaurants in 500 cities across the ...
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Ad of the Day Coca-Cola
the smartphone app that earned Coca-Cola the inaugural Mobile Grand Prix at Cannes last year-which let users buy unsuspecting strangers around the world cans of soda. While that campaign lacked the explicit political theme of this one, both are built around making a gesture of kindness to someone you don't know, and are rooted in the global Kumbaya spirit of the brand's classic Hilltop ...
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US STOCKS-Wall St hovers near record levels as investors hesitate to jump in
Mon May 20, 2013 2:18pm EDT * U.S. Fed has right monetary accommodation in place: Fed's Evans * Dow, S&P briefly hits new session highs * Yahoo's board approves $1.1 bln Tumblr acquisition * Indexes: Dow off 0.2 pct, S&P off 0.2 pct, Nasdaq 0.3 pct By Angela Moon NEW YORK, May 20 (Reuters) - U.S. stocks slipped by afternoon trade on Monday as indexes struggled to break above their record ...
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Online takeout companies GrubHub and Seamless to merge
By Sarah McBrideSAN FRANCISCO (Reuters) - Two of the nation's biggest online food delivery businesses said they are merging in a deal that they hope will drive more orders, in more cities, through their platforms.GrubHub and Seamless, which allow consumers to easily order online from various restaurants, are part of a group of fast-growing businesses that standardize local services under a ...
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Medtronic Boston Scientific patent case heads to Supreme Court
Medtronic and Boston Scientific is headed for the U.S. Supreme Court, the high court announced Monday. The two patents involved cover cardiac resynchronization therapy, or CRT, which gives the heart an electrical shock when its two blood-pumping chambers, or ventricles, get out of sync with each other. Last September, a federal appeals court reversed the ruling of a federal court judge in ...
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Los Angeles jeweler pleads guilty in KPMG case
LOS ANGELES -; The owner of a Los Angeles jewelry store pleaded guilty Monday for his role in an insider-trading case involving a former senior partner at accounting firm ...
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Energy Stocks Energy stocks rally top gainer among SP sectors
SAN FRANCISCO (MarketWatch) -- Energy stocks rose on Monday, the top gainer in the S&P 500 Index, standing head and shoulders above other sectors and up 4.3% on the ...
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Blackstone group offers to take Pactera private
Private equity firm Blackstone Group LP, along with Pactera's CEO and other managers, have offered to take Pactera private in a deal that values the Chinese technology consulting and outsourcing firm at $680.4 million.Shares rose 31 percent Monday. Through Friday's close, before news of the offer, Pactera's stock had lost about two-thirds of its value over the past year.Blackstone ...
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Ryanair reports record profits but warns growth likely to slow this year
Ryanair has unveiled record profits but warned growth was likely to slow this year as a result of the backdrop in Europe and rising fuel costs.The Dublin-based carrier said profits after tax rose 13% to EUR569m (481m) in the year to the end of March, while revenue also rose by 13% to EUR4.9bn.Growth in ancillary revenues - extras on top of ticket prices including paying to reserve a seat - ...
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Royal Bank of Scotland leads the way as FTSE 100 hits highest level since September 2000
was the day's biggest riser.The bank ended 15.1p higher at 351.9p after analysts at Numis raised their recommendation from hold to buy and their target price from 308p to 410p. The broker said RBS's US business Citizens was undervalued while the profitability of its UK retail operations would be underpinned by its efficiency measures.Overall the FTSE ...
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Ex-Goldman Sachs boss quits HSBC role
citing his "expanded responsibilities" at other businesses where he has senior roles.His departure leaves a vacancy at HSBC for a chairman of the remuneration committee, and comes weeks after shareholders in Barrick Gold voted against the $12m (7.8m) signing-on fee he received from the Canadian miner after he became co-chairman.HSBC said Thornton's resignation was entirely due to ...
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Forbes Earnings Preview Hewlett-Packard
is expected to report poor second quarter earnings on Wednesday, May 22, 2013 with analysts expecting a 17.3% drop in earnings from a year ago. The consensus estimate is 82 cents per share, down from earnings of 98 cents per share a year ago. Over the past month, the consensus estimate has fallen from 82 cents, but it's still up from the consensus estimate of 77 cents three months ago. For ...
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Forbes Earnings Preview Lowes
when the company reports its first quarter results on Wednesday, May 22, 2013. The consensus estimate is calling for profit of 51 cents a share, a rise from 43 cents per share a year ago. The consensus estimate has declined from 52 cents over the past three months. For the fiscal year, analysts are projecting earnings of $2.08 per share. Revenue is expected to be $13.45 billion for the quarter, ...
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Ex-EA CEO John Riccitiello Warns Sony And Microsoft Not To Forget Gamers
jockey for attention in the upcoming console war, it's easy to see this is a two-horse race. There is a console market, there are two major players releasing next-gen consoles, and one of them will win. There is one point of view that wonders whether both consoles might fail, because the era of dedicated gaming systems is coming to a close. That point of view of talks about the quickly ...
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Forbes Earnings Preview L Brands
when the company reports its first quarter results on Wednesday, May 22, 2013. The consensus estimate is calling for profit of 46 cents a share, a rise from 41 cents per share a year ago. The consensus estimate has declined from 51 cents over the past three months. Analysts are expecting earnings of $3.10 per share for the fiscal year. Revenue is projected to eclipse the year-earlier total of ...
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Forbes Earnings Preview Staples
when the company reports its results for the first quarter on Wednesday, May 22, 2013. Staples reported profit of 30 cents a year ago, but the consensus estimate calls for earnings per share of 27 cents this time around. The consensus estimate has declined from 31 cents over the past three months. Analysts are expecting earnings of $1.33 per share for the fiscal year. Analysts look for revenue ...
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Forbes Earnings Preview PetSmart Inc.
, expecting it to report earnings that are up 12.9% from a year ago when it reports its first quarter earnings on Wednesday, May 22, 2013. The consensus estimate is 96 cents per share, up from earnings of 85 cents per share a year ago. The consensus estimate has gone up from 94 cents over the past three months. Analysts are projecting earnings of $3.92 per share for the fiscal year. Revenue is ...
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Forbes Earnings Preview Target
announcement of its first quarter earnings on Wednesday, May 22, 2013 analysts have become more wary as expectations have fallen over the past month to earnings of 86 cents per share from earnings of 91 cents per share. Analysts' estimates are down 17.3% from the year-ago quarter, when Target reported earnings of $1.04 per share. The consensus estimate has dipped over the past three ...
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Forbes Earnings Preview American Eagle Outfitters
before it reports its first quarter earnings on Wednesday, May 22, 2013. Analysts are expecting American Eagle to come in with earnings of 17 cents per share, 15% less than a year ago when it reported earnings of 20 cents per share. Over the past three months, the consensus estimate has sagged from 25 cents. For the fiscal year, analysts are projecting earnings of $1.49 per share. After being ...
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Forbes Earnings Preview Medtronic
reports its fourth quarter earnings on Tuesday, May 21, 2013. The consensus estimate is $1.03 per share, up 4% from a year ago when Medtronic reported earnings of 99 cents per share. Analysts are expecting earnings of $3.69 per share for the fiscal year. Revenue is projected to be $4.39 billion for the quarter, 2.2% above the year-earlier total of $4.3 billion. For the year, revenue is ...
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Forbes Earnings Preview Toll Brothers
is expected to report poor second quarter earnings on Wednesday, May 22, 2013 with analysts expecting a 30% drop in earnings from a year ago. The consensus estimate is 7 cents per share, down from earnings of 10 cents per share a year ago. The consensus estimate has moved down from 20 cents over the past three months. Analysts are projecting earnings of 73 cents per share for the fiscal year. ...
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SAC Capital Settlement Talks Fall Apart Source
CNBC's Kate Kelly reports SAC Capital had expressed confidence they were close to resolving remaining issues connected with alleged insider trading. Those talks appear to have broken down as of last ...
Philadelphia Spotlight
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Philadelphia expands recycling, but not all is well
Philadelphia is expanding the range of recyclable products its accepts in the refuse disposal systems and in effort to increase recycling rates and save money for the city council during current lean times. But, there is a concern among environmentalists that increased recycling may actually have negative side effects.
Recycling across the country is not entirely mainstreamed yet, according to figures from 2007 to 2008 (the most recent available), just 11% of all the USA’s garbage was recycled. Environmentalists point to figures such as these for the reason why landfills are running out, pollution is increasing and the environment is suffering. Read more
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