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Japan's PM Abe defends policies as markets settle

CORRECTS DATE - Bank of Japan Gov. Haruhiko Kuroda speaks at the 19th International Conference on The Future of Asia in Tokyo, Friday, May 24, 2013.(AP Photo/Itsuo Inouye) TOKYO (AP) — Japan's top leaders are defending the economic strategies championed by Prime Minister Shinzo Abe, though the central bank chief acknowledged a need for better communication with financial markets, a day after Tokyo shares suffered their worst loss since the 2011 tsunami disaster.


Survey: German consumer confidence rises strongly

BERLIN (AP) — A survey is showing a significant rise in German consumer confidence as people's expectations for the economy and for their own income improve.

Asia stocks extend losses after big sell-off

A man walks past an electronic stock indicator showing the Nikkei 225 index which nosedived 1,143.28 points, or 7.3 percent to close at 14,483.98 in Tokyo Thursday, May 23, 2013. Japanese stocks plummeted Thursday after a spike in government bond yields and unexpectedly weak Chinese manufacturing spooked investors sitting atop months of massive gains in share prices. (AP Photo/Shizuo Kambayashi) BANGKOK (AP) — Asian stocks continued to retreat Friday after being routed the day before by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary stimulus.


Asian stocks shaky, Nikkei still seen vulnerable

A visitor looks at his mobile phone in front of monitors displaying market indices at the Tokyo Stock Exchange in Tokyo By Ian Chua SYDNEY (Reuters) - Japanese stocks turned negative on Friday and the yen reversed early losses, keeping intact worries that the Nikkei's largest one-day drop in two years may be the start of a bigger rout. In a sign that many are still spooked by Thursday's eye-watering 7.3 percent Nikkei drop, share markets elsewhere in Asia extended their decline to a fresh one-month low. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.6 percent, extending Thursday's 2.2 percent fall. Australian shares underperformed the region, falling 1.9 percent. "There's a lot of ...


Stricken Japan nuke plant struggles to keep staff

FILE - In this Saturday, Nov. 12, 2011 file photo, workers in protective suits and masks wait to enter the emergency operation center at the crippled Fukushima Dai-ichi nuclear power station in Okuma, Japan. Tokyo Electric Power Co., the utility that runs the Fukushima Dai-ichi plant that melted down in March 2011 after being hit by a tsunami, is finding that it can barely meet the headcount of workers required to keep the three broken reactors cool while fighting power outages and leaks of tons of radiated water, said current and former nuclear plant workers and others familiar with the situation at Fukushima. (AP Photo/David Guttenfelder, Pool) TOKYO (AP) — Keeping the meltdown-stricken Fukushima nuclear plant in northeastern Japan in stable condition requires a cast of thousands. Increasingly the plant's operator is struggling to find enough workers, a trend that many expect to worsen and hamper progress in the decades-long effort to safely decommission it.


Procter & Gamble brings back A.G. Lafley as CEO

NEW YORK (AP) — Procter & Gamble Co. is bringing back its former CEO, as the world's largest consumer-products maker tries to spur global growth.

Sears reports bigger-than-expected 1Q loss

FILE - In this Dec. 6, 2012, photo, an employee walks through the appliance department at a Sears in North Olmsted, Ohio. Sears Holdings Corp. reports quarterly financial results before the market opens on Thursday, May 23, 2013. (AP Photo/Mark Duncan, File) NEW YORK (AP) — It was another ugly quarter for Sears Holdings Corp.


Google, like Facebook, in talks to buy Waze for about $1 billion: report

Waze, an Israeli mobile satellite navigation application, is seen on a smartphone in this photo illustration taken in Tel Aviv (Reuters) - Google Inc is considering buying Israeli mobile satellite navigation start-up Waze Inc, which may lead to a bidding war with Facebook Inc, Bloomberg news reported, citing people familiar with the matter. Waze is seeking more than $1 billion and is fielding expressions of interest from multiple parties, said Bloomberg, citing a source. Other media have reported that Facebook Inc has held talks to buy Waze for as much as $1 billion. ...


Procter & Gamble brings back former CEO to fix company

Former Chairman of the Board, President and Chief Executive Officer of Procter & Gamble A.G. Lafley speaks during the World Business Forum in New York By Jessica Wohl (Reuters) - Procter & Gamble Co on Thursday brought back A.G. Lafley to run the world's largest household products maker, replacing Bob McDonald immediately in the midst of a major restructuring. Lafley is taking on the roles of chairman, president and chief executive officer, effective immediately, while McDonald is set to retire on June 30 after 33 years at P&G. The move comes as some investors have pushed for faster improvements from the maker of Tide detergent and Gillette razors. P&G unveiled a $10 billion restructuring program in February 2012. ...


Google faces new federal antitrust probe: source

Google signage seen at the company's headquarters in New York WASHINGTON (Reuters) - U.S. regulators are in the early stages of an antitrust probe into whether Google Inc, the top player in Web display advertising, breaks antitrust law in how it handles some advertising sales, a source told Reuters on Thursday. The source said that it was unlikely that the Federal Trade Commission had sent out civil investigative demands in relation to the probe, which would be the sign of a formal and more serious investigation. ...


Salesforce.com's quarterly results disappoint Wall Street

Salesforce CEO Marc Benioff speaks during the Dreamforce event in San Francisco By Noel Randewich (Reuters) - Salesforce.com Inc's quarterly earnings and outlook disappointed investors as costs rise following a spree of acquisitions, sending its shares lower. Under Marc Benioff, Salesforce's CEO and founder, the company's fast revenue growth has made it a favorite with investors eager to own part of the growing trend among businesses to outsource their information technology needs - from servers to software, a phenomenon known as cloud computing. But Salesforce has struggled to earn consistent profits. ...


Sears losses mount, weighs sale of unit to shore up liquidity

Women walk past the Sears department store at Fair Oaks Mall in Fairfax By Siddharth Cavale (Reuters) - U.S. retailer Sears Holdings cast bigger doubts on the progress of its turnaround after reporting a bigger-than-expected quarterly loss, hurt by cooler spring weather. Shares of the company, which also said it was considering selling its service contracts business, fell 12 percent to $51.41 in heavy trading after the bell. The disappointing results came just months after Chairman and controlling shareholder Eddie Lampert took over as chief executive from Louis D'Ambrosio, who stepped down due to a family member's health issue. ...


Hobby Lobby tests birth-control coverage mandate

Customers are seen at a Hobby Lobby store in Denver on Wednesday, May 22, 2013. A challenge to the federal health care law faces its most prominent test yet in a full 10th Circuit hearing in Denver on Thursday. Hobby Lobby stores is challenging a federal mandate requiring it to offer employees health coverage that includes access to the morining-after birth control pill. The Oklahoma based arts and crafts chain says the mandate violates the religious beliefs of its owners. (AP Photo/Ed Andrieski) DENVER (AP) — In the most prominent challenge of its kind, Hobby Lobby Stores Inc. asked a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage that includes access to the morning-after pill.


Goldman unveils checks on conflicts in bid to fix image

A Goldman Sachs sign is seen on at the company's post on the floor of the New York Stock Exchange By Lauren Tara LaCapra SALT LAKE City (Reuters) - After dozens of meetings with executives and regulators, 100,000 hours of employee training and an immeasurable amount of public grief, Goldman Sachs Group Inc's Lloyd Blankfein claimed success in putting the bank and his legacy as CEO back on track. At Goldman's annual meeting on Thursday, Blankfein unveiled details of a three-year review and overhaul of the bank's practices in dealing with clients, following high-profile missteps that tarnished its reputation in the aftermath of the financial crisis. ...


Former Goldman banker settles SEC 'pay-to-play' charges

By Lisa Lambert and Jonathan Stempel WASHINGTON/CHICAGO (Reuters) - A former Goldman Sachs Group Inc. investment banker has agreed to a five-year securities industry ban and a record fine to settle Securities and Exchange Commission charges that he broke rules against influence peddling to win bond underwriting business in Massachusetts. Without admitting or denying wrongdoing, Neil Morrison, 38, accepted what the SEC said was the first industry ban for violating "pay-to-play" rules governing the $3.7 trillion municipal bond market. ...

Gap back in style as 1Q profit jumps 43 percent

FILE - In this Tuesday, Feb. 26, 2013, file photo, a shopper walks down the steps at a Gap store in Los Angeles. The Gap Inc. reports quarterly financial results after the market closes on Thursday, May 23, 2013. (AP Photo/Jae C. Hong, File) NEW YORK (AP) — After years of struggle, Gap is back in style.


Stocks edge lower as investors reassess Fed fears

Trader John Panin, second left, adjusts his glasses as he works on the floor of the New York Stock Exchange Thursday, May 23, 2013. A global stock market slump is continuing on Wall Street as traders worry about how committed the Federal Reserve remains to keeping up its bond-buying program. (AP Photo/Richard Drew) NEW YORK (AP) — Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower.


Icahn seeks up to $7 billion for Dell bid

File photo of investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange By Michelle Sierra NEW YORK (Reuters) - Activist investor Carl Icahn and Southeastern Asset Management Inc have initiated talks with banks and asset managers to line up commitments for as much as $7 billion in bridge loans to back their leveraged recapitalization proposal for Dell Inc, banking sources told Thomson Reuters LPC on Thursday. Jefferies & Co is leading the deal. Icahn and Southeastern are looking to lock in the financing before Dell shareholders meet in July to vote on a rival take-private offer from CEO Michael Dell and Silver Lake Partners. ...


Wall Street sags, but ends off session lows; HP hits 52-week high

Traders work on the floor at the New York Stock Exchange By Angela Moon NEW YORK (Reuters) - Stocks slipped on Thursday but finished sharply off their session lows as a rally in Hewlett-Packard's shares offset worries about weak Chinese manufacturing data and the prospects of the Federal Reserve reducing its monetary stimulus. Trading was choppy as many traders were adjusting their positions ahead of the long holiday weekend. Markets will be closed on Monday for Memorial Day. Hewlett-Packard shares jumped more than 17 percent to a fresh 52-week high a day after the world's largest PC maker raised its outlook. ...


Between economy and trouble, Obama approval steady

President Barack Obama and first lady Michelle Obama watch as singer-songwriter Carole King performs after being presented the Library of Congress Gershwin Prize for Popular Song during an East Room concert honoring King Wednesday, May 22, 2013, at the White House in Washington. (AP Photo/Jacquelyn Martin) WASHINGTON (AP) — The economy is recovering, the White House is dealing with multiple controversies, and President Barack Obama appears generally unaffected either way.


Photos: Frank Lloyd Wright Homes For Sale

Frank Lloyd Wright may have died in 1959, but his architecture is alive and well. A recent story in the Wall Street Journal revealed the cost to upkeep some of his historic homes may be more than buyers bargain for, but others clamor to invest in history.        

Martha Stewart Case Judge Ruling Favors JCP

The judge presiding over the lawsuit against Martha Stewart and J.C. Penney ruled on Friday allowing the sale of Martha Stewart merchandise in J.C. Penney stores.        

Couple Finds $100,000 in Safe Deposit Box

An elderly couple in Brooklyn, N.Y., found a huge pile of cash–what they reckon was $100,000–in cash in a bank’s safe deposit box. Joe Valinoti, 82, and his companion, Kathleen Ricigliano, 81, said they opened a safe deposit box account with Sovereign Bank in February....        

3 Indicted for Millions of Fake Marlboros

Three men were indicted this week for shipping millions of packs of untaxed contraband Marlboro cigarettes that were part of a sting conducted by the FBI. Jia Yongming, Yazhou Wu, and Ricky Le were indicted by the U.S. Attorney’s Office on Monday in a U.S....        

Men Charged for Millions of Fake Marlboros

Three men were indicted this week for shipping millions of packs of untaxed contraband Marlboro cigarettes that were part of a sting conducted by the FBI. Jia Yongming, Yazhou Wu, and Ricky Le were indicted by the U.S. Attorney’s Office on Monday in a U.S....        

Holy Grail of Books Could Fetch $30M

A rare psalm book from 1640 could fetch between $15 million to $30 million at a Sotheby’s auction on Nov. 26 in New York. “It’s going to be far and away the most expensive book ever sold,” David Redden, vice chairman of Sotheby’s auction house,...        

Holy Grail of Rare Books, Hymnal Could Fetch $30M

A rare psalm book from 1640 could fetch between $15 million to $30 million at a Sotheby’s auction on Nov. 26 in New York. “It’s going to be far and away the most expensive book ever sold,” David Redden, vice chairman of Sotheby’s auction house,...        

McDonald's Apologizes for Sad Big Mac Ad

McDonald’s has apologized for a Big Mac ad that enflamed the fast food giant in a whopper-sized controversy. The ad, a poster placed on Boston mass transit, featured a photo of a seemingly despondent woman with her head buried in her hands next to the...        

Retail Sales Fall, Sending Stocks Down

Retail sales fell by 0.4 percent in March, according to the Commerce Department, the biggest drop in nine months. The major stock market indexes slid on the news. Taxes went up at the beginning of the year for everyone who gets a paycheck and that...        

Photos: Rock Icon's Former Home on Sale

A former home of rock legend Stevie Nicks and silent-movie star Vilma Banky is on sale for $1.625 million. The 4-bedroom home in the Hollywood Hills has a guest apartment, sunset views and spans 3,538-square feet. Nicks purchased the property in the late '70s and recorded numerous demos there, according to Curbed. Banky reportedly lived there after it was built in the late '20s. The home was last purchased in December 2000 for $1.15 million.        
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