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Archive: (16 Stories)

Markets, floods hit profits at Munich Re

08/06/2013 12:58am
German reinsurer Munich Re saw its first-quarter net profit fall 33 percent to 543 million euros ($722 million) as losses from floods in central Europe weighed on earnings.

Australian central bank cuts rate to record low

08/06/2013 2:42am
Australia's central bank cut its benchmark interest rate to a record low 2.5 percent Tuesday because of slower growth and weakening commodity prices.

Quality helps Americans keep old cars longer

08/06/2013 4:35am
Americans are keeping their cars and trucks longer than ever, and even with new car sales increasing, the average age will continue to rise, an industry research firm says.

Icahn ups stake in Dell

08/06/2013 5:28am
Carl Icahn's stake in Dell now stands at close to 9 percent, buttressing his claims that the fight for the embattled computer maker is not over.

Online retailing helps Deutsche Post DHL profits

08/06/2013 7:06am
Mail, express delivery and freight company Deutsche Post DHL said stronger revenue from online shopping deliveries and smaller one-time expenses helped its profits more than double in the second quarter.

JetBlue cuts coach legroom to add first class

08/06/2013 8:31am
JetBlue Airways will cut one inch of legroom from its coach seats on transcontinental flights to make room for a new first-class cabin that will feature lie-flat beds.

Washington Post sale ends Buffett's stake in paper

08/06/2013 8:51am
Warren Buffett's company's longtime stake in the Washington Post newspaper will end when the publication is sold to founder Jeff Bezos.

Fed member: Bond buys likely to slow later in year

08/06/2013 12:03pm
A Federal Reserve voting member said Tuesday the central bank is "quite likely" to start reducing its bond purchases later this year but that any change hinges on the economy showing improvement.

Smaller US trade gap could lift 2nd-quarter growth

08/06/2013 12:14pm
A sharp decline in the trade deficit with other nations suggests the U.S. economy grew this spring at a faster pace than previously estimated, helped by a record level of exports.

GM to invest $167M more at Tennessee factory

08/06/2013 2:16pm
General Motors plans to spend another $167 million at its Tennessee factory so it can build two new midsize vehicles.

GM cuts price of Volt electric car by 13 percent

08/06/2013 2:19pm
General Motors is knocking 13 percent off the sticker price of the Chevrolet Volt electric car as it tries to keep pace with rivals in the market for plug-in vehicles.

Washington Post shares rise to 5-year highs

08/06/2013 2:30pm
Shares of the longtime owner of The Washington Post briefly hit five-year highs after announcing the sale of the paper to Inc. founder Jeff Bezos for $250 million.

GE takes stake in First Solar; to share technology

08/06/2013 3:50pm
First Solar Inc. said Tuesday that it's buying a competing thin-film solar panel technology from General Electric Co in exchange for a stake in the company.

Auto industry: Young people will buy cars again

08/06/2013 4:35pm
The auto industry says people under 34 are gradually starting to buy cars again as their economic circumstances improve.

US gov't sues BofA over mortgage bond sale

08/06/2013 5:11pm
The U.S. government has accused Bank of America Corp. of civil fraud, saying the company failed to disclose risks and misled investors in its sale of $850 million of mortgage bonds during 2008.

UBS paying $50M to settle SEC charges on bond sale

08/06/2013 5:57pm
Switzerland's biggest bank, UBS, has agreed to pay about $50 million to settle federal civil charges of misleading investors in its sale of risky mortgage bonds ahead of the 2008 financial crisis.