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Business - Dodd-Frank at Four

On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act became law. As with human 4-year-olds, the party parents throw may be a little duller than on the first birthday, but the toddler now appreciates the present in the box more than the box itself. Let`s look at what`s in the box.

Friday, July 25, 2014  04:01


World - England`s Lampard signs with New York of MLS

Chelsea`s all-time top scorer and England international midfielder Frank Lampard has signed to play for Major League Soccer 2015 expansion side New York City FC, the club announced Thursday. Lampard spent his first six seasons at West Ham United with only a brief loan to Swansea in his debut season. He joined Chelsea in 2001 and bagged 211 goals for the Blues as well as 29 in 106 caps for England. During Lampard`s tenure, Chelsea won Premier League titles in 2005, 2006 and 2010, the FA Cup in 2007, 2009, 2010 and 2012 as well as the 2012 Champions League crown.

Thursday, July 24, 2014  16:16


Business - Wal-Mart replaces head of struggling U.S. business

Wal-Mart Stores Inc replaced its U.S. head Bill Simon with Asia chief Greg Foran as it seeks to restore the fortunes of its largest business after a year of sluggish sales. A 35-year retail veteran who started out as a teenage part-timer stocking supermarket shelves, Foran is being moved to the United States just two months after becoming the head of Wal-Mart`s Asia business. Wal-Mart said on Thursday that Simon - who joined the retailer in 2006 and has headed its U.S. business since 2010 - would stay on as a consultant for six months and the parting was `amicable`. Foran, 53, joins Wal-Mart`s U.S. business at a time the company is struggling to retain its traditional low-income customers.

Thursday, July 24, 2014  18:02


Business - Wal-Mart replaces U.S. business head with Asia chief

(Reuters) - Wal-Mart Stores Inc replaced its U.S. business head Bill Simon with Asia chief Greg Foran to turn around its largest business, where sales have been sluggish for at least a year. Wal-Mart shares fell 1 percent in early trading on the New York Stock Exchange. Foran, 53, will assume his new role on Aug. 9 and Simon will be `transitioning out the company,` Wal-Mart said in a statement on Thursday. Simon, who has headed the world`s largest retailer`s U.S. business since 2010, will be consulting for the company for six months, Wal-Mart said.

Thursday, July 24, 2014  14:43


Business - Argentina debt mediator postpones start of New York talks

By Nate Raymond NEW YORK (Reuters) - A court-appointed mediator in the Argentina debt dispute said he had to push back by a day the start of the latest round of settlement talks on Wednesday because the Argentine delegation `could not get here in time.` Daniel Pollack, a New York lawyer appointed to oversee the settlement discussions, had scheduled a meeting for 10 a.m. EDT (1400 GMT) after a U.S. judge on Tuesday ordered the parties to meet `continuously` until a deal is reached. Pollack said in an email on Wednesday the scheduled meeting in New York `had to be postponed, because the Argentines said they could not get here in time.` He later said the meeting had been rescheduled for Thursday at 12 p.m. EDT. Argentina faces a July 30 deadline to cut a deal with bondholders who demand full payment for defaulted bonds, instead of a reduced amount. Argentina, which defaulted on about $100 billion in 2002, has been pushed to the brink of a fresh debt default by U.S. court decisions that it pay the $1.33 billion face value of the bonds plus interest to bondholders who did not participate in debt swaps in 2005 and 2010.

Wednesday, July 23, 2014  16:58


Business - With sales sputtering, Apple`s iPad looks to IBM alliance

By Christina Farr SAN FRANCISCO (Reuters) - Apple Inc`s iPad is losing steam just four years after its release, but an alliance with International Business Machines Corp could rejuvenate a flagging product by entering into a largely untapped corporate market. Apple shipped 13.2 million iPads in the June quarter, 8 percent fewer than a year earlier and lagging Wall Street`s forecast for 14 million or more. Apple helped create the tablet market in 2010 with its first iPad. Chief Executive Officer Tim Cook described iPad sales as `very bifurcated` - they continue to grow at 50 percent or above in emerging markets such as the Middle East and China, but in developed countries like the United States, the `market is weaker.`     Research firm IDC lowered its forecast for 2014 worldwide tablet demand growth to 12.1 percent - a fraction of the 51.8 percent expansion of 2013.

Wednesday, July 23, 2014  02:43


Business - Facebook`s Zuckerberg to testify at N.Y. forgery trial: prosecutors

By Joseph Ax NEW YORK (Reuters) - The government will call Mark Zuckerberg to testify against an upstate New York man accused of trying to cheat the billionaire founder of Facebook Inc out of half his stake in the social media company, a federal prosecutor said on Tuesday. Zuckerberg is expected to be a key witness against Paul Ceglia, who is charged with forging a 2003 contract with Zuckerberg that purportedly entitled him to half of Facebook. “It`s a witness that the government 100 percent knows it will be calling at trial,” Assistant U.S. Attorney Christopher Frey said at a court hearing before U.S. District Judge Andrew Carter in New York federal court. The charges stem in part from a 2010 civil lawsuit Ceglia filed against Zuckerberg and Facebook in Buffalo, New York, claiming the two men signed a contract when Zuckerberg was a freshman at Harvard University that gave Ceglia half of a planned social networking website.

Tuesday, July 22, 2014  21:38


World - U.S. court rulings create new uncertainty over Obamacare

By David Morgan and Aruna Viswanatha WASHINGTON (Reuters) - Two U.S. judicial panels on Tuesday injected new uncertainty into the future of President Barack Obama`s healthcare law, with conflicting rulings over whether the federal government can subsidize health insurance for millions of Americans. The appeals court rulings, handed down by three-judge panels in Washington, D.C., and Richmond, Virginia, augured a possible rematch before the U.S. Supreme Court, which in June 2012 narrowly upheld the Democratic president`s 2010 healthcare overhaul.

Tuesday, July 22, 2014  21:11


Business - US home sales increase 2.6 percent in June

WASHINGTON (AP) — Sales of previously owned homes rose for a third straight month in June, pushing activity to the highest level in eight months and providing evidence that housing is regaining lost momentum.

Tuesday, July 22, 2014  15:26


Business - Coke yearns for higher margins to tempt franchisees

By Anjali Athavaley NEW YORK (Reuters) - Coca-Cola Co may have annual profits of about $9.3 billion, but that princely sum could fall short of what the world`s largest soda maker needs to tempt would-be franchisees into taking over more of its regional bottling operations. North American profit margins will likely show an improvement from the roughly 14.5 percent in the year-ago period, but may still fall short of what is needed to lure more independent bottlers to bid for Coke`s North American bottling operations. Following a similar move by rival PepsiCo Inc, which reports earnings on Wednesday, Coke bought back its top bottler in the region in 2010 to streamline decision-making and cut costs. Now Coke has changed direction again and is seeking to sell the bottling operations to franchisees in a bid to shift away from the capital intensive and low-margin business of distribution to focus on what it is best at: branding and innovation.

Monday, July 21, 2014  21:21

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