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Angela Merkel’s spokesman says the head of Germany’s central bank will meet with the chancellor amid speculation that he will not pursue the European Central Bank’s top job.
Steffen Seibert told reporters that Merkel and Axel Weber would meet later Friday behind closed doors in Berlin and then issue a written statement.
Weber, who has reportedly pulled […]
Filed under: business, technology by Finance Boss
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Samsung Electronics said net profit rose 13 percent in the fourth quarter of 2010 amid higher sales of semiconductors and smartphones as the technology giant rounded out a record year for profits and revenue.
Samsung, the world’s largest manufacturer of computer memory chips and flat screen televisions, earned 3.42 trillion won ($3.1 billion) in the three […]
As concern about the economy eases, investors are increasingly optimistic about stocks and have pushed the market up more than 100 percent from early 2009 lows.
But the next few weeks could test whether continued optimism is warranted.
As companies report their profits for 2010 and chief executives provide outlooks for the months ahead, Standard & Poor’s […]
Filed under: business, technology by Finance Boss
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U.S. retailers’ 2010 holiday sales jumped 5.5 percent for the best performance in five years as shoppers snapped up clothing and jewelry at Macy’s Inc., Tiffany & Co. and other stores.
Retail sales, excluding autos, rose to $584 billion from Nov. 5 through Dec. 24, said MasterCard Advisors’ SpendingPulse, which measures retail sales by all […]
Sales of previously owned homes edged up in November, the third increase in four months after a dismal summer for home-buying.
The National Association of Realtors says people bought previously owned homes at a seasonally adjusted annual rate of 4.68 million units last month, a gain of 5.6 percent from October.
The increases follow the worst summer […]
Filed under: Small Business, business by Finance Boss
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After two Christmas seasons of pushing socks, pajamas and other basics as gifts, retailers are betting that Americans are ready to give a little more this year.
The flashy sweater is replacing the basic winter coat, jewelry is starting to sparkle again, and the gift card for gasoline is being trumped by the gift card at […]
Filed under: business, marketing by Finance Boss
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General Motors is taking a big step toward repaying taxpayers for last year’s $50 billion bailout, announcing it will repurchase $2.1 billion in preferred stock held by the Treasury Department.
The automaker has already repaid about $6.7 billion in loans. The plan to repurchase the preferred stock will leave Treasury’s 61% stake in the company’s […]
Filed under: business by Finance Boss
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Bank of America said today it was freezing foreclosures in 23 states. A BofA spokeswoman was not sure Friday whether Arizona was on that list.
The move comes after an Associated Press story reported that BofA mortgage and foreclosure officials had proceeded with some actions without reading forms and documents provided by distressed homeowners.
BofA is one […]
Filed under: business by Finance Boss
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The experts expected home sales to drop once the homebuyer tax credit lapsed at the end of April, but the depth of the decrease was shocking.
According to the National Association of Realtors (NAR), pending home sales fell a whopping 30% in May. Their index, which measures signed sales contracts but not closed sales, plunged […]
Filed under: business by Finance Boss
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KV Pharmaceutical Co. continued its purge of employees Wednesday, handing out pink slips to 289 workers — about 42 percent of its work force, company officials confirmed.
Many of the laid-off employees had worked for the Bridgeton-based drug maker for more than 10 years. Some had been with the company for decades, current and […]
Filed under: business, management by Finance Boss
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