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New Travel Arrangement with China Could Lead to Stronger Economic Growth in Taiwan

By Jason Simpkins Associate Editor After completeing their first offical talks since 1999, China and Taiwan will open the first permanent offices in each other's capitals and begin direct weekend passenger flights between their territories. The agreement is a positive step that will bring the two contentous regions closer together both politically and economically. Approximately […]

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Exxon Plans to Sell 2,220 Profit-Squeezed Gas Stations

By Mike Caggeso Associate Editor High gas prices have forced Exxon Mobil Corp. (XOM) – the world's largest oil company – from the retail gasoline business, the company said late Thursday afternoon. There are about 12,000 gas stations with the Exxon sign at the entrance, though the company owns about 2,220 of them. And Exxon […]

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Home Foreclosures Continue to Soar Delaying U.S. Economic Recovery

By Jennifer YousfiManaging Editor There's more bad news ahead for the U.S. economy as home foreclosures continue to rise. One out of every 483 U.S. households is at some stage of the foreclosure process, and with that many displaced or struggling homeowners, the economic recovery may well take longer than expected. "May was the third […]

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Yahoo Grasping at Straws with Google Deal

By Jason SimpkinsAssociate Editor Jerry Yang, Yahoo Inc.'s (YHOO) chief executive officer, finally got his wish last Thursday when his company partnered with rival Google Inc. (GOOG) to enhance its online advertisement business. But while Yang insists the deal will generate an extra $800 million a year in revenue, shareholders and analysts alike are skeptical […]

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Bank of Japan Plays Down Inflation Concerns

By Jennifer Yousfi Managing Editor Despite having the lowest overnight rate of the Group of Seven nations, Japan's central bank unanimously voted today (Friday) to keep its key interest rate steady at 0.5%. "Our judgment is that our current stance on monetary policy, under current conditions, is the best," Bank of Japan (BOJ) Governor Masaaki […]

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Stimulus Checks Push Retail Sales Rally; Economy Still Facing Uphill Battle

By Jason Simpkins Associate Editor Stimulus checks helped send retail sales up 1% in May, the Commerce Department said yesterday (Thursday), bolstering the dollar and lifted the mood on Wall Street. But the effects may not last, as unemployment continues to rise and crude oil supplies tighten. Record high gasoline prices padded the report, but […]

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InBev Offers Anheuser $46.3 Billion, a Deal That Would the Create World’s Largest Brewer

By Mike Caggeso Associate Editor After two weeks of nail-biting speculation, InBev NV pulled the trigger on its takeover offer to Anheuser-Busch Companies Inc. (BUD), putting up a $46.3 billion, or $65 per share, cash bid for the U.S. market leader. As a sign of the times, InBev's Chief Executive Carlos Brito did it with […]

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Oil Price Soars $5 on Reduced Supply, Gas Could Head Much Higher

By Jennifer YousfiManaging Editor Crude for July delivery jumped more than $5 per barrel in New York yesterday (Wednesday) to close at $136.38 per barrel on declines in U.S. supplies and refinery activity. Supplies fell further than expected, with a 4.56 million decline to 302.2 million barrels last week, the U.S. Energy Information Administration announced. […]

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Merrill: Foster's Could be Next Candidate for Beverage Buyout

By Mike Caggeso Associate Editor The whirlwind of recent beverage buyouts may continue, as Foster's Group Ltd. (OTC: FBRWY) – Australia's biggest beer and wine maker – may be a takeover target after it conducts a review of its wine business. That assessment didn't come from the company, however, but rather Merrill Lynch & Co. […]

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Big Changes for LIBOR as BBA Tries to Restore Credibility in Key Lending Rate

By Jennifer Yousfi Managing Editor After months of increasing skepticism, the British Bankers Association yesterday (Tuesday) announced changes to its London Interbank Offer Rate (LIBOR). "These changes will further strengthen BBA Libor and the confidence of its many users," BBA Chief Executive Angela Knight said. The BBA proposed a number of measures meant to restore […]

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