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(27-04-2011)
  • Harbinger sues U.S. government over wireless company LightSquared: report

    Falcone, the head of Harbinger Capital Partners, which owns LightSquared, arrives at the U.S. Bankruptcy Court in ManhattanPhil Falcone's governmentPartners has filed suit against the U.S. government, accusing it of reneging on an agreement regarding bankrupt Harbinger-backed wireless company LightSquared LP, the Wall Street Journal reported. Harbinger, in a suit filed on Friday in the U.S. Court of Federal Claims in Washington, said global positioning systems companies unlawfully used spectrum owned by LightSquared, the Journal said. The GPS companies and advocacy groups warned that LightSquared's network could interfere with GPS. The U.S. Federal Communications Commission's decision in 2012 to heed those warnings and stop LightSquared from deploying its network was a breach of the regulatory agency's agreement to allow Harbinger to buy LightSquared, according to the lawsuit.


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  • Fed officials debate timing of interest rate increases: WSJ

    Sun rises to the east of the U.S. Federal Reserve building in Washington(Reuters) - A debate is intensifying among the Federal Reserve's regional bank presidents about whether to push interest rates up from zero sooner than planned because of recent improvements in the U.S. job market, the Wall Street Journal reported. Most Fed officials at June's policy meeting didn't see rate increases until 2015, according to projections made before the Labor Department reported on July 3 that the jobless rate fell to 6.1 percent in June, the Journal said in an article posted late on Friday. Fed officials hadn't expected unemployment to fall to near 6.1 percent until the end of this year. "We have made more progress toward our unemployment goals than we would have thought" earlier this year, San Francisco Federal Reserve President John Williams told the Journal.


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  • Wall Street Weekahead - Tech earnings take center stage next week

    Traders work on the floor of the New York Stock Exchange (NYSE)Big tech names set to report next week include Intel Corp and Yahoo Inc on Tuesday; The tech sector has the highest projected earnings growth rate among the 10 S&P sectors for the second quarter at 12.3 percent, its best quarter since the first quarter of 2012. Goldman Sachs analysts wrote in a note that the information technology sector "appears to be the most undervalued sector," giving investors more reasons to be bullish on tech stocks. The implied earnings-per-share growth for the tech sector has been 5.4 percentage points above the S&P 500 on average over the past 10 years, but it is now just 1.0 percentage point above the benchmark index, according to the Goldman Sachs note.


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  • Tech earnings take center stage next week

    Intel processors are displayed at a store in SeoulBig tech names set to report next week include Intel Corp and Yahoo Inc on Tuesday; The tech sector has the highest projected earnings growth rate among the 10 S&P sectors for the second quarter at 12.3 percent, its best quarter since the first quarter of 2012. Goldman Sachs analysts wrote in a note that the information technology sector "appears to be the most undervalued sector," giving investors more reasons to be bullish on tech stocks. The implied earnings-per-share growth for the tech sector has been 5.4 percentage points above the S&P 500 on average over the past 10 years, but it is now just 1.0 percentage point above the benchmark index, according to the Goldman Sachs note.


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  • How the Dow Jones industrial average did Friday
    The stock market stabilized on Friday, booking a small gain, but it wasn't enough to prevent the biggest weekly drop since early April. Tobacco company Lorillard was among the biggest gainers in the Standard ...More

  • TSX ends flat after jobs report but gold miners surge

    A sign board displaying Toronto Stock Exchange stock information is seen in TorontoBy John Tilak TORONTO (Reuters) - Canada's main stock index was little changed on Friday as a rally in shares of gold miners helped overcome worries about the health of the labor market spurred by a sluggish jobs report. Government data showed that the Canadian economy unexpectedly shed 9,400 jobs in June and the unemployment rate rose to 7.1 percent from 7.0 percent in May, underlining how employment growth has stalled despite a recovery in the United States. The Toronto stock market appeared to be consolidating after concerns over whether Canadian and U.S. corporations will be able to meet earnings expectations had weighed on investor sentiment in recent days. “There is nothing fundamental that has changed here, at least not yet,” said Marcus Xu, portfolio manager at MY Capital Management Corp in Vancouver.


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  • Stocks little changed, on track for weekly loss

    FILE - This Jan. 4, 2010 file photo shows an historic marker on Wall Street in New York. U.S. stocks are opening lower Friday, July 11, 2014, and are headed for their biggest weekly loss since April. (AP Photo/Mark Lennihan, File)NEW YORK (AP) — The stock market rose slightly Friday but was still headed for its biggest weekly loss since April as investors assessed corporate news. The market ended the previous week at a record high.


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  • Bill Gates Reveals His Favorite Business Book

    Bill Gates Reveals His Favorite Business BookMicrosoft Bill Gates Bill Gates first read his favorite business book after Warren Buffet lent him his copy.  In a column for The Wall Street Journal, Gates writes that he has had Buffet’s copy of “Business Adventures,” by John Brooks since he first recieved it in 1991.  The book — a collection of 12 New Yorker articles by Brooks from the 60s — has been out-of-print since 1971, but Gates says its lessons are as applicable now as ever. He also praises Brooks for his fun, interesting writing style.  “‘Business Adventures’ is as much about the strengths and weaknesses of leaders in challenging circumstances as it is about the particulars of one business or another,” Gates writes. “In that sense, it is still relevant not despite its age but because of it. John Brooks’s work is really about human nature, which is why it has stood the test of time.” In one of the stories in the book, “The Impacted Philosophers,” Brooks uses a case of price-fixing at General Electric to explore larger issues of miscommunication.  Check out Gates’ video about the book: Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.


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  • Stocks edge lower, on track for weekly loss

    FILE - This Jan. 4, 2010 file photo shows an historic marker on Wall Street in New York. U.S. stocks are opening lower Friday, July 11, 2014, and are headed for their biggest weekly loss since April. (AP Photo/Mark Lennihan, File)NEW YORK (AP) — Stocks edged mostly lower Friday as investors assessed corporate news. The stock market is headed for its biggest weekly loss since April after ending the previous week at a record high.


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  • U.S. cigarette maker Reynolds in talks to buy rival Lorillard
    U.S. cigarette maker Reynolds American Inc (RAI.N) is in talks to acquire rival Lorillard Inc (LO.N) in a multi-billion dollar deal that would reshape one of the world's biggest and most profitable tobacco markets, the companies said on Friday. A deal would also involve the sale of some brands to Britain's Imperial Tobacco Group (IMT.L) to address potential antitrust concerns, as well as the purchase of more shares in Reynolds by British American Tobacco (BATS) (BATS.L), its largest shareholder. In a statement confirming what people familiar with the matter previously told Reuters, Reynolds, No.2 player in the United States with brands including Camel and Pall Mall, said the talks were consistent with its strategy of weighing options that would help boost shareholder value. Buying Lorillard, which had a stock market value of $22.9 billion(13.39 billion pounds) on Thursday, would give Reynolds the leading U.S. menthol cigarette Newport and its leading e-cigarette blu.More

  • Asia: Mixed as eurozone debt fears return
    HONG KONG: Asian markets were mixed while the safe-haven yen edged up yesterday following a selloff on Wall Street and in Europe as fears over eurozone debt resurfaced with a payment crisis at Portugal’s biggest listed bank.More

  • Hong Kong: Flat on bargain-hunting
    SHARES ended flat yesterday as bargain-hunting pared earlier losses fuelled by a Wall Street sell-off and fears over Portugal’s biggest listed bank.More

  • US open: Stocks edge lower as Wells Fargo underwhelms
    An absence of economic data, underwhelming results from Wells Fargo & Co and comments from a number of policymakers prompted a weak start on Wall Street on Friday as investors rounded off the week in a ...More

  • US STOCKS-Wall St flat, but Internet names support Nasdaq
    * Internet names help support the Nasdaq * Dow down 0.1 pct, S&P flat, Nasdaq up 0.2 pct (Updates to open) While the Nasdaq was lifted by strength in Internet names, the S&P 500 is down for a fourth session out of the past five as recent concerns about economic growth, especially in Europe, have pushed investors to take profits.More

  • Wall Street opens flat; on track for worst week since April

    Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) - U.S. stocks opened flat on Friday after notching three declines in the prior four sessions, with the S&P 500 on track for its worst week since April. The Dow Jones industrial average fell 8.13 points or 0.05 percent, to 16,906.94, the S&P 500 lost 0.06 point to 1,964.62 and the Nasdaq Composite added 9.08 points or 0.21 percent, to 4,405.29. (Reporting by Chuck Mikolajczak; Editing by Bernadette Baum)


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  • US pre-open: US stocks to rebound amid Wells Fargo earnings
    Upbeat results from Wells Fargo & Co were expected to help US stocks rise on Friday, as markets recovered after concerns about the Portuguese banking sector hit sentiment the previous session.More

  • World Cup defeat can hurt domestic stock market

    FILE - The July 3, 2010 file photo shows Argentina's Lionel Messi, right, and Germany's Mesut Ozil during the World Cup quarterfinal soccer match between Argentina and Germany at the Green Point stadium in Cape Town, South Africa. On Sunday, July 13, 2014, Germany and Argentina will face each other again in the final of the 2014 soccer World Cup. (AP Photo/Matt Dunham, file)LONDON (AP) — Argentina and Germany face off in the World Cup final on Sunday and investors in both countries will do well to be alert to potential drops on their stock markets the day after in case of defeat.


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  • Nigeria risks scare investors out of equities into bonds
    By Chijioke Ohuocha LAGOS (Reuters) - Fund managers in Nigeria have been moving cash into government bonds this year and selling riskier assets, dampening a stock market rally as uncertainty over forthcoming elections and growing security risks hit demand for equities. Nigeria's main stock index returned 44 percent in dollar terms in 2013, thanks to a stable naira currency, making it one of the best performing African equity markets. The gains boosted its allure as an investment destination, attracting foreign investors and pension funds.More

  • Lower export prices hurt Kumba Iron Ore's H1 earnings
    JOHANNESBURG (Reuters) - South Africa's Kumba Iron Ore expects first-half headline earnings to decline by as much as 19 percent to between 19.50 and 21.50 rand per share compared to a year ago, hurt by a fall in export prices. Kumba shares turned negative on the news, losing 0.1 percent at 1034GMT. The South African mining company reported 24.13 rand per share in headline earnings per share for its first half of 2013. Earnings for the six months to end June 2014 will be released on July 22. (Reporting by Helen Nyambura-Mwaura; Editing by Stella Mapenzauswa)More

  • Tobacco companies bolster a bruised UK FTSE 100
    Britain's top equity index rebounded on Friday as merger activity lifted tobacco shares, enabling the stock market to regain some poise after four days of losses. Imperial Tobacco led the gainers with ...More