May 22, 2013

More Headlines

US Treasury Reports $113B Surplus in April

The U.S. Treasury says it took in a surplus of $113 billion in April, the largest in five years. That lowered the federal deficit through the first seven months of the budget year and kept it on pace to be the smallest since 2008.

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Obama Emphasizes Trade with Latin America

President Barack Obama says the U.S. places great importance on its trading relationships with Latin America and will keep working to improve those ties and help the region become more competitive.

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Big Weekend For Sports Books

Its been called the most exciting 2 minutes in sports. We are talking about the Kentucky Derby which runs on Saturday after 3:00 in the afternoon. Local sports books have extended that two minutes to roughly 48 hours of action.

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EPA Methane Report Further Divides Fracking Camps

A new report from the U.S. Environmental Protection Agency has dramatically lowered estimates of how much of a potent greenhouse gas is being leaked by the natural gas industry despite rapid growth in production.

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IGT Predicts 4th Year of Double-Digit Growth

International Game Technology says a strong performance in its earnings for the second quarter has the Nevada-based slot-machine maker confident it will post its fourth consecutive year of double-digit growth.

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Prom Spending Is on the Rise Again

The prom spending is on the rise again. The recession forced parents and teens to cut back on spending for the annual high school dance, but wallets are finally opening again.

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PETA Buys Shares of SeaWorld Stock

PETA

PETA has purchased newly-issued shares of SeaWorld Entertainment Inc., the theme park company that often has been the target of the animal rights group's protests.

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US Business News

  • Bidders Circle Electric-Car Maker Fisker
    At least two investor groups have expressed interest in salvaging Fisker Automotive, the troubled maker of luxury plug-in hybrid cars, but both proposals would require the Obama administration to accept pennies on the dollar for a taxpayer funded loan.
  • KKR Eyes Saks-Neiman Merger
    KKR weighing an investment in Saks, possibly with an eye toward merging the high-end department store with rival Neiman Marcus, according to a person familiar with the matter.
  • Target's Quarter Lacks Spring
    Target posted a 29% drop in quarterly earnings and lowered its outlook, citing weak sales in seasonal and weather-related categories.
  • Cooler Weather Hurts Lowe's
    Lowe's net profit rose 2.5% as the home-improvement retailer reported slightly lower expenses, but revenue was almost flat and results missed Street estimates.
  • Boeing to Reward Holders With Cash
    Boeing on Wednesday outlined plans to return to shareholders around 80% of the cash generated by its bulging aircraft order book by trimming capital and development spending and potentially boosting production rates.
  • Apple CEO Calls for Corporate Tax Reform
    Tim Cook challenged Senate investigators who reported Apple paid no corporate income tax on tens of billions of dollars in overseas income over the past four years and urged reforms.
  • Penguin to Settle in E-Book Dispute
    Pearson's book publishing business, Penguin Group, has agreed to pay $75 million to settle a dispute in the U.S. over the way it priced electronic books, drawing to a close an investigation into the publishing industry's e-book pricing tactics.
  • Wal-Mart Hires Dan Bartlett
    Wal-Mart named Dan Bartlett, a former adviser to President George W. Bush, to head its corporate and government affairs. He will succeed Leslie Dach, who led the retail giant's decadelong push to remake its corporate image.
  • CEO of Popular Seeks IOC Presidency
    The chairman and CEO of Puerto Rico's Popular declared his candidacy to become president of the International Olympic Committee.
  • Carrefour to Sell Stake in Mideast Venture
    France's Carrefour said it is selling its 25% stake in a Middle Eastern joint venture to local partner Majid Al Futtaim Holding for €530 million ($686 million).