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Moody's Raises Spain's Rating Outlook

Wall Street Journal Online - Wed, 12/04/2013 - 5:22pm
The ratings firm cited "evidence of a sustained rebalancing" in the country's economy that supports its view that public finances are slowly improving.
Categories: Financial News

Rockwell's 'Saying Grace' Fetches $46 Million

Wall Street Journal Online - Wed, 12/04/2013 - 5:12pm
Norman Rockwell's "Saying Grace," a painting that adorned the cover of the Saturday Evening Post in 1951, sold for $46 million at Sotheby's in New York, setting a record for the American Art category.
Categories: Financial News

Parts of UK wait for wind and floods

BBC News World - Wed, 12/04/2013 - 4:32pm
Large swathes of the UK are braced for a storm, bringing with it gale-force winds, possible travel disruption and the risk of coastal flooding.
Categories: World News

Meet the New Richest Person in China

Time Magazine Latest Money News - Wed, 12/04/2013 - 4:18pm
The founder of China’s largest search engine, Baidu, became the richest person in China Wednesday, according to the Bloomberg Billionaire Index. Robin Li, who took the number two spot two weeks ago as Baidu shares rallied, was worth $12.231 billion Wednesday, according to Bloomberg. That’s enough to beat out Wang Jianlin, who founded China’s largest commercial property developer and movie theater operator, by $64 million. [Bloomberg]
Categories: Financial News

Barrick Gold Upends Board

Wall Street Journal Online - Wed, 12/04/2013 - 4:14pm
Barrick, the world's largest gold miner, announced a raft of boardroom changes and the exit date of founder and chairman Peter Munk, as it looks to ease investors' concerns over corporate governance at the gold-mining giant.
Categories: Financial News

Osborne to make fresh spending cuts

BBC News World - Wed, 12/04/2013 - 4:13pm
George Osborne will announce a fresh round of spending cuts for Whitehall departments when he gives his Autumn Statement on Thursday.
Categories: World News

Stocks Fall Amid Budget Talks

Time Magazine Latest Money News - Wed, 12/04/2013 - 4:11pm
Stocks in the United States dropped for the fourth straight day Wednesday, as investors looked for clues about a possible looming policy change in the Federal Reserve and hoped for a budget deal on Capitol Hill. The S&P 500 fell 0.1 percent to 1,792.81. The four-day slump is the longest run of declines for the S&P 500 in 10 weeks in what has otherwise been a banner year that has seen it climb 26 percent, Bloomberg reports. The Dow Jones Industrial Average dropped 24.85 points, 0.2 percent, to 15,889.99. [Bloomberg]
Categories: Financial News

Sunderland 3-4 Chelsea

BBC News World - Wed, 12/04/2013 - 4:06pm
Eden Hazard scores two fine goals as Chelsea increase Sunderland's relegation fears in a seven-goal thriller.
Categories: World News

Arsenal 2-0 Hull City

BBC News World - Wed, 12/04/2013 - 3:57pm
Nicklas Bendtner's rare goal helps Arsenal sweep past Hull to maintain their lead at the Premier League summit.
Categories: World News

Rockwell painting in record sale

BBC News World - Wed, 12/04/2013 - 3:51pm
A Normal Rockwell painting sells for $46m (£28m) in New York, a new record for a piece of American art sold at auction.
Categories: World News

Martin Bashir resigns from MSNBC

BBC News World - Wed, 12/04/2013 - 3:43pm
Martin Bashir resigns from liberal US news and chat network MSNBC after "offensive" remarks about former US vice-presidential candidate Sarah Palin.
Categories: World News

Liverpool 5-1 Norwich City

BBC News World - Wed, 12/04/2013 - 3:35pm
Luis Suarez scores four goals as his virtuoso performance overwhelms Norwich at Anfield.
Categories: World News

Jamaica Scientist Launches Medical Marijuana Firm

Time Magazine Latest Money News - Wed, 12/04/2013 - 3:22pm
(KINGSTON, Jamaica) — A prominent Jamaican scientist and entrepreneur is launching a company that aims to capitalize on the growing international market for medical marijuana. Henry Lowe is a researcher who specializes in medicinal chemistry and the chairman of an institute that develops therapeutic and cosmetic products from various plants. Lowe is calling his new venture “Medicanja.” He says it will focus on medicinal compounds in marijuana, known locally as “ganja,” and will not violate any laws or treaties. Marijuana has been pervasive but prohibited on the Caribbean island since 1913. But increasingly vocal advocates say Jamaica could give its chronically struggling economy a big boost by embracing cannabis-related investing and loosening up drug laws. Lowe asserted Wednesday that Jamaica has potential to become a powerhouse in medical marijuana and health tourism.
Categories: Financial News

Beached whales dead in Florida

BBC News World - Wed, 12/04/2013 - 3:14pm
Six whales die and as many as 40 more are stranded after a pod beached off Florida's Everglades National Park.
Categories: World News

SAC Analyst Describes How Fund Sought Information

Wall Street Journal Online - Wed, 12/04/2013 - 3:03pm
SAC Capital placed such importance on information gathered from company executives when deciding which stocks to buy or sell that it offered training sessions led by "intelligence professionals" on how to use meetings to extract clues, jurors were told.
Categories: Financial News

Three Wall Street Trade Associations Sue U.S. Regulator

Wall Street Journal Online - Wed, 12/04/2013 - 2:43pm
Three Wall Street trade groups are suing the Commodity Futures Trading Commission alleging procedural violations at the agency.
Categories: Financial News

Madoff Ex-Exec Details Alleged Forgeries

Wall Street Journal Online - Wed, 12/04/2013 - 2:43pm
Witness gives account in court of inner-workings of the giant Ponzi scheme, including techniques for forging documents.
Categories: Financial News

Lehman Brothers Estate Shopping 20% Stake in D.E. Shaw

Wall Street Journal Online - Wed, 12/04/2013 - 2:03pm
Lehman Brothers' estate is shopping its 20% stake in New York hedge-fund D.E. Shaw Group, sources say, with bids expected in December.
Categories: Financial News

Dish to Bid in Spectrum Auction

Wall Street Journal Online - Wed, 12/04/2013 - 2:02pm
Dish will bid for spectrum in an auction scheduled for next month and won't face competition from the nation's top cellphone carriers, according to an FCC list.
Categories: Financial News

TIME Exclusive: Icahn Files Apple Shareholder Proposal

Time Magazine Latest Money News - Wed, 12/04/2013 - 1:58pm
Subscribe to TIME here. Veteran investor Carl Icahn is opening a new front in his quest to persuade Apple to part with more of its massive cash stockpile. Icahn believes the technology giant should share more of its wealth with stockholders. So to push Apple, he now wants stockholders to vote on whether the company should spend more of its billions to buy back its own shares on the public market. A buyback would almost certainly drive up the price of Apple’s stock—and increase the value of Icahn’s holdings along with those of all Apple investors. Icahn tells TIME he filed a shareholder proposal with Apple on Nov. 26, three days before the deadline for measures to be voted on at the company’s next annual shareholders meeting. His measure calls for a share buyback and is in the form of a precatory proposal, which means that even if a majority of Apple shareholders approved, it would not be binding on the company’s management. That’s the typical approach for shareholder resolutions, even those coming from investors who are at odds with management. For his part, Icahn says he doesn’t consider his proposal an indictment of Apple CEO Tim Cook, or the company’s management, per se. “Tim Cook is doing a good job with the business,” Icahn tells TIME. “I think he’s good whether he does what I want or not.” But, says Icahn, referring to the company’s huge cash stockpile, “Apple is not a bank.” Photograph by Platon for TIME Icahn has the option of withdrawing his proposal if he and Apple can come to terms. If not, the situation could turn into a proxy fight against Apple, even if it is not a particularly hostile or aggressive one. The two sides would vie to persuade stockholders to vote their way. (The term proxy fight refers to the fact that shares from stockholders who cannot attend the annual meeting in person can be voted by proxy. In practice, waging a proxy fight means persuading big institutional investors to support a measure.) Apple
Categories: Financial News


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