May 21, 2013

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Revival of Comstock Mining Nears Production Goals

The company that brought gold and silver mining back to the historic Comstock region around Virginia City says the operation is proving as successful as expected and new discoveries have it optimistic about the future.

Dow Hits Record High

The Dow is closing at a record, beating the previous high it set in October 2007, before the financial crisis and the Great Recession.

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Half of $1B Apple Awarded from Samsung Invalidated

A federal judge in California is erasing nearly half of the $1 billion in damages that a jury decided Samsung Electronics should pay Apple in a high-profile trial over the smartphone and tablet computer patents.

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Macy's CEO to Testify in Fight Over Martha Stewart

Macy's Chairman, President and CEO Terry Lundgren is scheduled to testify in New York State Supreme Court on Monday in a trial that pits the department store chain against rival J.C. Penney Co. over a partnership with home diva Martha Stewart.

US Futures Dip on European Data, Fed Minutes

U.S. stock futures are falling as a sell-off that began the previous day on the release of Federal Reserve minutes gains more momentum with troublesome economic data from Europe.

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Most Expensive Starbucks Drink Ever?

A Washington state man might have set a new record for the most expensive cup of Starbucks coffee. It's called the "Quadriginoctuple Frap" and it cost $47.30.

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World Stocks Mixed, Japan's Nikkei up as Yen Falls

Japan's benchmark stock index jumped today after Group of 20 finance officials refrained from directly criticizing Prime Minister Shinzo Abe's government for trying to force down the yen. Other Asian stock markets were mixed and European markets fell in early trading.

Comcast Doubles Down on TV in $16.7B Deal for NBCU

Comcast's $16.7 billion deal to buy the remaining half of NBCUniversal ahead of schedule represents a resounding vote of confidence in the future of TV, even as Internet video reshapes the entertainment landscape.

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US Business News

  • Apple Avoids Overseas Taxes, Panel Finds
    Apple paid no corporate income tax to any nation on tens of billions of dollars in income over the past four years, Senate investigators disclosed ahead of a hearing on Tuesday.
  • Sprint to Discuss Dish's Bid
    Sprint Nextel said it agreed to enter into negotiations with Dish Network Corp. about Dish's $25.5 billion bid for the wireless carrier. But Sprint stopped short of saying Dish's offer could be superior to what Japan's SoftBank has already bid.
  • G4S Chief Buckles Resigns
    Security company G4S said Chief Executive Nick Buckles, who was heavily criticized over the company's handling of the London Olympic Games last year, will resign at the end of the month.
  • Burberry Shows Signs of Rebound
    Burberry showed further signs of recovery after a midyear profit warning, as it reported a rise in full-year revenue and bucked a wider trend in the luxury industry that has seen some of its rivals lose steam in China.
  • Vodafone Keeps Verizon Dividend
    Vodafone said it will keep the $3.15 billion dividend payment it will receive from Verizon Wireless and plow it into its flagging operations in Europe, which weighed heavily on the mobile giant's full-year profit.
  • Poor Earnings Pressure M&S Boss
    British retailer Marks & Spencer reported another set of lackluster earnings, putting Chief Executive Marc Bolland under the spotlight after three years in charge.
  • Southern Executive Departs as Clean-Coal Costs Mount
    Southern Co. replaced the head of its Mississippi utility amid growing concern about the cost of a "clean coal" power plant whose estimated price tag has ballooned to $4.3 billion.
  • GrubHub and Seamless to Merge
    GrubHub and Seamless, two tech startups that make it easier to order takeout food from restaurants, are merging, although they will remain separate brands.
  • In Europe, Cutting Jobs Can Take Years
    It took Whirlpool eight months to close a 1,000-person factory in Arkansas last year amid falling sales. In Italy, the company has been trying for three years to cut 500 jobs—with only partial success.
  • Hazards of the Buzzy Startup
    Yahoo's $1.1 billion deal for Tumblr is a fairy-tale ending for the blogging site, which fetched a rich price despite its meager revenue. Many other highflying Web startups may not be as lucky.