Archive | Business

Metro Detroit’s job sprawl is worst in US, making it difficult for poor to find work – Detroit Free Press

If it seems like it’s taking longer than ever to get to your job in metro Detroit, there’s a good reason. A new study finds that metro Detroit is the nation’s most sprawled job market, with 77% of jobs located at least 10 miles from the downtown core. Combined with an earlier Brookings Institution [...]

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Bank of America Struggles for Growth – Wall Street Journal

Article Excerpt Bank of America Struggles for Growth BY SHAYNDI RAICE, SAABIRA CHAUDHURI AND MATTHIAS RIEKER Bank of America Corp. shares dropped Wednesday after first-quarter results fell short of expectations and showed the financial giant was struggling to boost growth in its core lending business. Revenue dropped 8.4% when an accounting charge related to the [...]

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Carney Keeps Rate-Increase Bias While Chopping Forecast – Bloomberg

Bank of Canada Governor Mark Carney kept unchanged both his policy interest rate and his bias to tighten, even as he chopped his growth forecast for 2013 and said that economic slack will persist for more than two years. Policy makers held the benchmark rate on overnight loans between commercial banks at 1 percent for [...]

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Sprint, T-Mobile Risk Being Stuck in Second Tier – Wall Street Journal

Article Excerpt Sprint, T-Mobile Risk Being Stuck in Second Tier BY ANTON TROIANOVSKI, BRENT KENDALL AND THOMAS GRYTA While the U.S. wireless industry engages in an intensifying merger frenzy, antitrust authorities are emphasizing that there are limits to how far they will let it go. The Justice Department said in a regulatory filing last Friday [...]

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Fed’s Bullard Says He’s Ready To Increase QE As Inflation Is ‘Too Low’ – Forbes

IMF Warns Of ‘Dangerous’ Recovery As It Cuts U.S. And Global Growth Estimates Agustino Fontevecchia Forbes Staff Hedge Fund Billionaires John Paulson And David Einhorn Lost $640M In Gold Market Collapse Agustino Fontevecchia Forbes Staff Germany Can’t Escape Its Own Crushing Austerity As Exports Fall And Imports Tank Agustino Fontevecchia Forbes Staff :James Bullard, president [...]

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Nomura seizure order meant to stem Monte Paschi losses: document – Reuters

MILAN | Wed Apr 17, 2013 6:50am EDT MILAN (Reuters) – Italian prosecutors ordered the seizure of 1.8 billion euros in assets from Nomura (8604.T) and contracts linked to a derivative trade with Monte Paschi (BMPS.MI) to stop the Tuscan lender suffering more losses on the transaction, according to the prosecutors’ seizure warrant. The document, [...]

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Economy barely expands in fourth quarter, brighter days ahead – Reuters

By Jason Lange WASHINGTON | Thu Feb 28, 2013 12:26pm EST WASHINGTON (Reuters) – The economy barely grew in the fourth quarter as the military slashed spending and companies restocked their shelves with less gusto, but growth already appears to be picking up. The Commerce Department said on Thursday the economy expanded at a 0.1 [...]

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There’s nothing wrong with Mayer asking Yahoos to work at the office – Washington Post (blog)

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Fiat CEO sees 50 percent chance of Chrysler IPO, prefers buyout – Reuters

By Bernie Woodall KOKOMO, Indiana | Thu Feb 28, 2013 2:04pm EST KOKOMO, Indiana (Reuters) – Sergio Marchionne, the chief executive of both Fiat and its majority-owned Chrysler Group LLC unit, said he sees a 50 percent chance that Chrysler will go public but would prefer that it be fully merged with Fiat. Fiat shares [...]

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Bonus Rules May Just Reinforce, Not Overhaul, Pay Practices – New York Times

Andy Rain/European Pressphoto AgencyA proposal to limit banker bonuses has prompted an outcry in London’s financial district. European lawmakers have stirred up the ire of the financial industry by proposing rules that would limit banker bonuses. But the regulations, assuming they are passed, may not prove to be the sweeping overhaul that bankers are lamenting. [...]

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