Clearwire, Sprint, others launch 4G service WiMAX in Kansas City

The latest generation of wireless Internet service finally is arriving in Kansas City on a broad scale.
Clearwire Corp. (Nasdaq: CLWR), along with partners Sprint Nextel Corp. (NYSE: S), Time Warner Cable (NYSE: TWC) and Comcast Corp. (Nasdaq: CMCSA, CMCSK), on Tuesday began selling the service, which uses WiMAX technology and boasts wireless download speeds comparable […]

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Troubled KV fires 42% of workers

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 […]

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Social Security choice: Benefit cuts or tax increases

Social Security provides a majority of the income for about two-thirds of Americans over age 65, but if you’re in your mid-50s or younger, it might be time to make alternative arrangements.
Experts don’t expect Social Security to disappear in the coming decades. But they’re concerned about the benefits that will be available for […]

American Railcar Q4 profit rises 39%

American Railcar Industries saw its fourth-quarter profit rise 39 percent but booked less than half the revenue it saw in the prior year’s quarter as railcar shipments fell.
For the quarter ended Dec. 31, the company reported net earnings of $10.5 million, up from nearly $7.8 million in the fourth quarter of 2008. American Railcar said […]

President orders debt panel, names chairmen

President Obama issued an executive order on Thursday that formally creates a bipartisan fiscal commission, a first step to forcing painful decisions needed to get the U.S. debt load under control.
Raising taxes, cutting spending and reforming Medicare and Social Security are all fair game, and thought to be impossible without the backing of both […]

Daw: Worse losses may lie ahead for U.S. stocks

The past decade has been brutal for Canadian investors who doggedly held on to the top 500 U.S. stocks.
Even after last year’s government-orchestrated economic recovery, and after tallying up dividends, they would have lost about a third of the money they invested at the end of 1999.
Last year, and the first day of trading this […]

Dodd proposes bold financial overhaul

The chairman of the U.S. Senate Banking Committee introduced a financial regulation reform bill on Tuesday that leaps beyond earlier proposals, calling for new government agencies on financial stability, bank supervision and financial consumer protection.
Senator Christopher Dodd, a Democrat, released the bill after intense closed-door negotiations, raising the ante in a debate over tighter […]

Canada Job Gains Exceed Forecasts; Unemployment Falls

Canadian employers added jobs for the second straight month in September, and the unemployment rate unexpectedly fell, adding to evidence the U.S.’s largest trading partner is emerging from its recession and raising the likelihood of a central bank rate increase within the next year.
Employment rose by 30,600, Statistics Canada said today in Ottawa. […]

Darling Says U.K. Spending Cuts Must Be ‘Sensible,’ ‘Measured’

Chancellor of the Exchequer Alistair Darling said the spending cuts the U.K. Treasury will impose after the election must be “sensible” and “measured,” suggesting he’s reluctant to make major reductions.
“You have to be measured about it,” Darling said in an interview on Bloomberg Television yesterday. “You have to make sure you reduce your […]

Korea Keeps Interest Rate at Record Low a Sixth Month

South Korea’s central bank kept its benchmark interest rate unchanged at a record low for a sixth straight month amid “favorable” signs of economic recovery.
Governor Lee Seong Tae and his board left the seven-day repurchase rate at 2 percent in Seoul today, as expected by 12 of 13 economists surveyed by Bloomberg. The […]