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Financial News Stories

Saudis propose 10 pct foreign ownership cap for bourse

* Market to open in first half of next year * Three-month consultation period for draft rules * $580 bln market is biggest in Arab world * 20 pct cap on combined foreign holdings in any stock * Minimum $5 … Continue reading

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Hormel Foods and Hertz are big market movers

NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Hormel Foods Corp., up $2.06 to $49.92 The maker of Spam and Dinty Moore stew reported … Continue reading

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Stocks extend rally, S&P at new high as data signals growth

By Herbert Lash NEW YORK (Reuters) – Global equity markets moved higher on Thursday, with the SP 500 closing at an all-time high, as U.S. and German data drove confidence on economic growth and helped extend a stock rally. Data … Continue reading

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Stocks advance to put S&P 500 at a record high

NEW YORK (AP) — The stock market advanced for a fourth straight day Thursday, pushing the Standard Poor’s 500 index to a record high. Investors were encouraged by news that the number of people seeking unemployment benefits remains at a … Continue reading

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Feds go after Countrywide’s Mozilo…again

Angelo Mozilo, the spectacularly tan co-founder of Countrywide Financial Corp., is reportedly in trouble with prosecutors once again due to his company’s loose lending standards leading up to the financial crisis. This latest prosecution comes three years after the Justice … Continue reading

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Gap reports higher profit, plans India expansion

SAN FRANCISCO (AP) — Gap Inc. said its profit rose 10 percent in the second quarter as the clothing retailer cut expenses and managed to lift sales. The San Francisco-based company also said it plans to open Gap stores in … Continue reading

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Surprise: Obamacare is helping, not harming, traditional healthcare

Since the Affordable Care Act became law four years ago, healthcare experts have warned of sweeping changes to the U.S. healthcare system. But here’s one thing they didn’t expect. Instead of weakening the existing system of employer-provided health insurance — … Continue reading

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Global stocks extend rally, S&P at new high as data signals growth

By Herbert Lash NEW YORK (Reuters) – Global equity markets moved higher on Thursday, with the SP 500 closing at an all-time high, as U.S. and German data drove confidence on economic growth and helped extend a stock rally. Data … Continue reading

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Asian shares edge higher ahead of US Fed chief’s speech

Hong Kong (AFP) – Asian shares mostly edged higher Wednesday following a positive lead from Wall Street, where stocks picked up on encouraging US economic data before a keynote speech this week by the Federal Reserve chief. The dollar hit … Continue reading

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Walgreen CFO’s departure due to $1 billion forecasting error : WSJ

(Reuters) – Drugstore retailer Walgreen Co’s Chief Financial Officer, Wade Miquelon, and another top executive lost their jobs after a $1 billion forecasting error in the company’s Medicare-related business, the Wall Street Journal reported. Walgreen named Kraft Foods Group Inc’s … Continue reading

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Financial News

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