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02 September, 2010 18:42
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USA > Business
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The fading iPod Classic
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Its obvious omission from Jobs' presentation spooked the device's devotees On MacRumors' forums, commenters grumbled about the "kick to the teeth" to Classic fans of Jobs' showing off upgrades to all of Apple's iPods except the original "I guess it's not part of the club anymore," one fan lamented A spokesman from Apple (AAPL, Fortune...
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02 September, 2010 15:55
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USA > Business
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How trader Dick morphed into banker CEO Dick Fuld
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In May 1995 BusinessWeek magazine published an interview with Fuld, just a year after he had led Lehman Brothers into its renewed status as an independent firm "Free at Last" read the headline, mimicking the cry from the 1960s of the late civil rights leader, Martin Luther King, JrFuld reported that he had just returned from Israel, where...
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02 September, 2010 14:27
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USA > Business
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Burger King agrees to $4 billion buyout
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Shares of Burger King, which have been rallying over the past two days on speculation over the deal, surged 24% in early tradingBurger King's board of directors has already approved the deal, which is slated to close during the fourth quarter Burger King's chairman and chief executive, John Chidsey, will remain CEO during the transition and then take...
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02 September, 2010 14:01
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USA > Business
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HP tops another raised Dell bid for 3PAR
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That represents a stunning 242% premium over the value of 3PAR's stock before the bidding war between Dell and HP began on Aug 16 3PAR notified Dell that it believed HP's offer was superior Dell has three days to match or improve upon HP's bid If Dell doesn't, 3PAR will enter a merger agreement with HP and pay Dell a $72 million breakup fee to terminate...
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02 September, 2010 10:42
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USA > Business
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A new M&A boom? Not so fast.
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Global M&A volume is at $18 trillion so far in 2010, up 24% from the previous year during the same time The value of deals in Europe and Asia rose this year, but the number of deals in each region was unchanged The US came in as the unlikely bright spot amid a fragile economic recovery The value of M&A deals here increased only 5%, but unlike...
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02 September, 2010 09:56
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USA > Business
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Cisco/Skype marriage would face a major hurdle
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"If they were to own that, they'd scare all of the phone carriers in the world," said Ken Dulaney, an analyst at Gartner "Skype is in the business of selling cut-rate phone service, and Cisco sells all of its equipment to carriers That would seem like a bad idea"Dulaney said he thought the deal was unlikely to happen because of the...
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01 September, 2010 17:44
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USA > Business
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Apple introduces new iPod line
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It's so small because Apple ditched the video purchase model, dramatically reducing Apple TV's storage requirements The gadget will now instead be for movie and TV show rentals Movies can be rented the same day the DVDs go on sale for $499, and TV shows are available for 99 cents each Apple said it struck a deal with ABC and Fox for TV shows, and promised...
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01 September, 2010 17:11
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USA > Business
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Sony revamps e-readers -- and hikes prices
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The old Touch and Daily Edition Readers featured a touchscreen overlay, which some users complained was unresponsive and low-contrast The Pocket had no touchscreen Now, all three versions feature touchscreens with infrared sensors that read taps from fingers or the included stylus Sony also improved the E-Ink display's contrast for clearer text and...
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01 September, 2010 15:36
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USA > Business
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GM auto sales sink 25%
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But it wasn't all Clunkers August's sales also dropped 7% from July and fell short of forecasts from sales trackers Edmundscom and TrueCarThe soft demand for autos is seen by economists as another sign of growing weakness among nervous consumers GM officials echoed that they are seeing a tougher environment for car sales"We are realistic We do...
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31 August, 2010 15:00
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USA > Business
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For BP, post-spill advertising comes at an unknown cost
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The British newspaper Telegraph reported that BP has spent at least $1 million per week on advertising, although there's no official number yet and sources Fortune spoke with didn't know where the figure could've come from It's been over 18 weeks since the accident If that estimate is right, members of Congress will certainly make the point that the...
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31 August, 2010 14:20
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USA > Business
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Problem bank list climbs to 829
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That figure is up from 775 problem banks reported in the first quarter of the year, and is nearly double the 416 banks that were on the FDIC's watch list a year ago Banks that end up on the problem list are considered the most likely to fail But few of the lenders on the list actually reach the point of failure On average, just 13% of banks on the FDIC's...
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30 August, 2010 16:52
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USA > Business
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RIM avoids BlackBerry ban in India - for now
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Earlier this month, India said it would block BlackBerry services starting Tuesday unless RIM, based in Canada, made the messages sent through them available to the government India's Ministry of Home Affairs posted a short, cryptic statement on its website Monday saying the BlackBerry maker agreed to "certain proposals for lawful access by law...
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30 August, 2010 16:26
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USA > Business
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Clearwire unveils pay-as-you-go 4G
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Customers can buy one of two devices to connect to the service: a $150 "Puck" that serves 4G mobile broadband to up to 8 devices or a $100 USB modem called the "Stick" Users can then buy access to Clearwire's 4G network for $5 a day, $20 a week or $50 a month without a contractClearwire built the nation's first 4G network, but has...
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30 August, 2010 15:19
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USA > Business
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Politics aside, natural gas is beating up on clean coal
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Coal is still cheaper at $225 per million Btu in 2010, according to the US Energy Information Administration Even so, the coal market is starting to feel the burn from gas on its heelsCoal stocks are down, across the board Bloomberg recently reported that the largest US coal producer, Peabody Energy Corp, fell 52 %, to $4096 The second biggest producer,...
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30 August, 2010 11:51
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USA > Business
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Sanofi offers $18.5 billion for Genzyme
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"We feel we are left with no choice but to take our compelling proposal directly to your shareholders by making its terms public," said Sanofi Chief Executive Christopher Viehbacher in a letter sent to GenzymeGenzyme rebuffed the offer "It provides no new information and no improvement in price, and therefore fails to establish a basis...
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30 August, 2010 10:55
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USA > Business
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How Steel got the Wachovia deal done
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Kovacevich was one of the most respected bankers in the industry, and his reputation continued growing as rivals cratered In perhaps the biggest sign of his success, Warren Buffett was Wells Fargo's largest investorIn 2007, Kovacevich had handed the CEO title to his longtime number two, John Stumpf, but stayed on as chairman He was set to off-load that...
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29 August, 2010 17:44
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USA > Business
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3PAR bidding war: Are Dell and HP crazy?
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3PAR (PAR), which has never turned an annual profit in its three years as a public company, would need to add over $40 million in free cash flow to make the deal profitable, according to Ken Hackel, president of CreditTrendscom But that's unlikely to happen for at least three years So why are Dell (DELL, Fortune 500) and HP (HPQ, Fortune 500) so adamant...
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27 August, 2010 23:28
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USA > Business
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United and Continental deal cleared for take off
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The antitrust probe was closed after the airlines agreed to transfer takeoff and landing rights and other assets at Newark Liberty Airport to Southwest Airlines (LUV, Fortune 500), the Justice Department said in a statement "The completion of DOJ's review is an important step on our journey of creating the world's leading airline," said Jeff...
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27 August, 2010 18:50
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USA > Business
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USA Today cuts 9% of staff
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Also, the news company is establishing five new departments and appointing new management This includes a department for digital development to focus on USA Today's dotcom, mobile, iPhone and iPad platforms The company said this department will also focus on "the development as well as acquisition of digital and emerging platform space""This...
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