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Silver and Gold Prices Rise Anticipating Chinese Demand

Apr 26th, 2011 | By
Silver and Gold Prices Rise Anticipating Chinese Demand

Silver and gold prices rose to record levels in London Monday in anticipation of increased Chinese demand. A report from the Chinese news site Century Weekly, citing unidentified sources, helped push silver for immediate delivery to a record $49.79 an ounce, and gold to $1,518.32 an ounce. According to the Century Weekly report, the Chinese
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Netflix Second Quarter Shortfall Prediction Sends Stock Down

Apr 26th, 2011 | By
Netflix Second Quarter Shortfall Prediction Sends Stock Down

Mail-order and online movie rental service Netflix released its first-quarter results Monday and announced second-quarter profit projections that fell short of analyst expectations. The announcement sent Netflix stock falling $12.52, or 5 percent, to $239.15 in extended trading, as shares lost 55 cents to $251.67 at 4 pm New York time in Nasdaq Stock Market
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Tablet Sales to Top $49 Billion by 2015, Analysts Predict

Apr 23rd, 2011 | By

Sales of tablet computer devices like iPads will top $49 billion by 2015, predicts the market research firm Strategy Analytics in a new report. If this prediction holds, it will make tablets one of the best-selling consumer electronics items, just behind TVs and personal computers. Demand for tablets is rising as consumers accustomed to smartphones
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GE First Quarter Earnings Soar

Apr 21st, 2011 | By
GE First Quarter Earnings Soar

GE announced strong first-quarter earnings Thursday. Large gains stemmed partly from the performance of GE’s commercial lending and leasing service, GE Capital, which was able to set aside less money to cover bad loans, and a result tripled its profit to $1.8 billion after taxes. GE reported revenue of $38.4 billion, an increase of 6
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Yahoo Closing Buzz Social News Site Thursday

Apr 20th, 2011 | By
Yahoo Closing Buzz Social News Site Thursday

Yahoo announced Tuesday that it will be discontinuing its Yahoo! Buzz news site Thursday. “Yahoo! Buzz will be discontinued as of April 21, 2011,” the statement read. “As of this date, you will be unable to access the Yahoo! Buzz site. This was a hard decision. However this will help us focus on our core
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Perella Weinberg Buys AIG Rail Services for $600 Million

Apr 19th, 2011 | By
Perella Weinberg Buys AIG Rail Services for $600 Million

An affiliate of the Asset Based Value strategy unit of financial services firm Perella Weinberg Partners has agreed to buy AIG Rail Services from insurer American International Group (AIG), the companies announced Monday. Financial details were not disclosed, but inside sources place the value of the transaction at $600 million. The transaction will make Perella
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Stocks Dragged by US Credit, Chinese Inflation, Euro Debt

Apr 18th, 2011 | By
Stocks Dragged by US Credit, Chinese Inflation, Euro Debt

Concerns about US government overspending sent US stock plunging the most in a month Monday, following a negative credit assessment by Standard & Poor (S&P). Fiscal ripples from the assessment pushed the price of oil down and raised the price of gold to record levels. Meanwhile global stocks fell following an announcement from China’s central
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IMF Says US Urgently Needs Credible Measures to Reduce Debt

Apr 14th, 2011 | By
IMF Says US Urgently Needs Credible Measures to Reduce Debt

The United States urgently needs a credible strategy to reduce public debt, the International Monetary Fund announced Tuesday ahead of its spring meeting in Washington this weekend, to be held in follow-up to meetings of G20 and the World Bank. The statement preceded President Obama’s debt reduction plan speech Wednesday and the House’s passage of
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Japanese Gains and Chinese Slowdown Offset Asian Stock Slump

Apr 14th, 2011 | By
Japanese Gains and Chinese Slowdown Offset Asian Stock Slump

Asian stocks fell Thursday following news that Chinese banks may have to raise about 860 billion yuan ($131 billion) of stock over six years to meet stricter capital rules. But the Asian stock market quickly rebounded, with reports of Chinese inflationary tendencies slowing down, and Japan’s Isuzu Motors and Toshiba Corporation posting big gains. China
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Ho Family Sells Macau Casino Stake to MGM Resorts

Apr 13th, 2011 | By
Ho Family Sells Macau Casino Stake to MGM Resorts

Las Vegas billionaire Kirk Kerkorian’s MGM Resorts International announced Wednesday that it will buy a controlling interest in MGM China from Ms. Pansy Ho, daughter of Hong Kong billionaire Stanley Ho. The transaction will give MGM Resorts International control of a resort that earns four times more revenue than its Las Vegas operation. Following resolution
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