Business and Finance

Recession Creates More One-Person Businesses, Less Employers

Mar 8th, 2011 | By
Recession Creates More One-Person Businesses, Less Employers

The recession has sparked a 15-year-high surge in small business start-ups, according to a study released by the Kauffman Foundation Monday. Most of these are one-person businesses rather than companies that employ others, the study found. According to the “Kauffman Index of Entrepreneurial Activity,” which measures new business creation in the United States, 0.34 percent
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Agricultural Exports Leading the Economic Recovery

Mar 5th, 2011 | By
Agricultural Exports Leading the Economic Recovery

By Agriculture Secretary Tom Vilsack As the United States and global economies work to recover from the worst recession in decades, American agriculture is helping to lead our nation’s recovery by shattering trade records, creating jobs here at home and ensuring affordable food for U.S. families. Thanks to one of the most productive eras in
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Severstal to Sell 3 US Steel Mills to Renco for $1.2 Billion

Mar 3rd, 2011 | By
Severstal to Sell 3 US Steel Mills to Renco for $1.2 Billion

The Russian steel company Severstal announced Thursday that it will sell three of its five US steel plants to Renco Group for a total of $1.2 billion. Severstal will sell its mills in Warren, Ohio; Wheeling, West Virginia; and Sparrows Point, Maryland. The move reverses a US expansion that Severstal began in 2008 and represents
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Ventas Buys Nationwide for $5.8 Billion in Health Merger

Mar 1st, 2011 | By
Ventas Buys Nationwide for $5.8 Billion in Health Merger

Chicago-based health care real estate investment trust (REIT) giant Ventas announced Monday that it is acquiring rival California REIT company Nationwide for $5.8 billion. The move creates the largest US real estate investment trust. REITs own properties and lease them out to health care service providers. Ventas and Nationwide’s combined assets will include a total
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Mobile Notary Public App for Loan Signing Agents Released

Feb 28th, 2011 | By
Mobile Notary Public App for Loan Signing Agents Released

NotaryCRM, a mobile notary software provider, has released the first mobile notary public app for loan signing agents. The app allows notaries to use their cell phone as a central location for managing client contact, appointment scheduling, driving directions, document storage, document delivery, invoicing, payment collection, and financial tracking. The app also includes team management
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Swiss Bank Secrecy No Longer Shields Financial Criminals

Feb 27th, 2011 | By
Swiss Bank Secrecy No Longer Shields Financial Criminals

Swiss bank secrecy will no longer shield tax evaders and money launderers, after the Swiss government passed historic reform legislation this month. Money stashed in Switzerland can now be returned to its original jurisdiction. Authorities in Germany, the UK, and the US have charged into the breach, yielding an international sweep of arrested and indicted
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AIG Shares Fall 5% Following 4th Quarter Report

Feb 25th, 2011 | By

American International Group shares fell 5% Friday, after AIG discussed its fourth-quarter earnings during the company’s first conference call with Wall Street analysts in two years. Early afternoon trading of AIG stock dropped to $38.24, equaling a loss of $2.20. AIG turned an overall profit of $11.2 billion for the fourth quarter. But the profit
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Boeing Wins $30 Billion Aerial Refueling Tanker Contract

Feb 24th, 2011 | By
Boeing Wins $30 Billion Aerial Refueling Tanker Contract

Boeing has won a controversial $30 billion contract to produce the Air Force’s KC-46A aerial refueling aircraft, Air Force Secretary Michael B. Donley announced at the Pentagon Thursday. The award was controversial because it followed in the wake of a corruption scandal involving previous bids. This was actually the third time this contract has been
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Distressed Property Buys Push Home Sales Up but Prices Down

Feb 23rd, 2011 | By
Distressed Property Buys Push Home Sales Up but Prices Down

Home sales rose 2.7 percent in January, the National Association of Realtors announced Wednesday. Meanwhile, home prices declined 3.9 percent during the fourth quarter of 2010, according to S&P/Case-Shiller Home Price Indices data released Tuesday. Experts interpret the combined data as reflecting a recent increase in the sale of distressed properties through foreclosures and short
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Amazon Challenges Netflix with Streaming Video

Feb 22nd, 2011 | By
Amazon Challenges Netflix with Streaming Video

Amazon announced Tuesday that it will begin offering an unlimited streaming-video service to members of its Amazon Prime service. This move will place it in direct competition with online video provider Netflix. Amazon said it will offer 5,000 movies and TV shows for unlimited online streaming to US members of Amazon Prime. Amazon Prime includes
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