Category Archives: Corporate

Verizon claims sabotage, calls cops on strikers

By doris | Published: August 13, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — The rift between Verizon and its 45,000 striking employees grew wider on Friday, after the telecommunications giant called in the FBI to investigate allegations of sabotage. Verizon spokesman Rich Young said more than 90 acts of sabotage have taken place since the strike began on Sunday. Saboteurs [...]

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ExxonMobil strikes oil in Gulf of Mexico

By doris | Published: June 8, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — ExxonMobil announced on Wednesday that it struck oil in the Gulf of Mexico, a discovery that could yield 700 million barrels. The company said that its first post-moratorium deepwater exploration well struck a second new source of oil and also includes a source of natural gas. “This [...]

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Ford to build its smallest engine ever

By doris | Published: June 2, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Ford will build a three-cylinder engine — its smallest engine ever — with better fuel economy and all the power of a larger one, the company said Thursday. The new EcoBoost engine, comparable to that found in a cruiser motorcycle, is in the final phase of development. [...]

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A tug-of-war over middle-class jobs

By doris | Published: May 20, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — There’s a new battle brewing between big business and labor. A factory in South Carolina could soon be home to 1,000 new workers assembling Boeing’s newest commercial jet. But as it prepares for the first jet to roll off the line this summer, Boeing must first go [...]

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Big Oil execs hit back on tax proposal

By doris | Published: May 12, 2011

Full Story atmoney.cnn.com NEW YORK (CNNMoney) — Dragged before Congress as gas prices explode at the pump, oil executives mounted a vigorous defense of their business practices on Thursday — pushing back against plans to eliminate tax breaks for the “big five” oil and gas companies. All five executives acknowledged rising prices at the pump, [...]

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Party may be over for Big Oil stocks

By doris | Published: April 29, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Oil stocks have been gushing all year thanks to surging crude prices. But is the party almost over? Energy giants ConocoPhillips (COP, Fortune 500), Exxon Mobil (XOM, Fortune 500), Royal Dutch Shell (RDSA) and Chevron (CVX, Fortune 500) all reported enormous jumps in profits in the past [...]

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Stocks climb to 3-year highs on earnings boost

By doris | Published: April 26, 2011

Full Story at Money.cnn.com NEW YORK (CNNMoney) — U.S. stocks finished at their highest levels in three years Tuesday afternoon, as investors cheered another batch of earnings results and a better-than-expected report on consumer confidence. The Dow Jones industrial average (INDU) gained 115 points, or 0.9%, the S&P 500 (SPX) rose 12 points, or 0.9%, [...]

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Newest Volkswagen Beetle unveiled

By doris | Published: April 18, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — The 2012 New Beetle, the car that Oprah Winfrey gave away to her audience back in November, is finally ready to show itself in public. The car was unveiled Monday at events held simultaneously in New York City and Shanghai.

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Online poker companies indicted for fraud

By doris | Published: April 15, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — The founders of the three largest Internet poker companies have been indicted for running illegal gambling operations, federal law enforcement officials said Friday. The United States Attorney in New York unsealed the indictment against eleven people, including the founders of PokerStars, Full Tilt Poker, and Absolute Poker. [...]

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Stocks dragged down by oil and Alcoa

By doris | Published: April 12, 2011

Full Story at CNNMoney.com NEW YORK (CNNMoney) — U.S. stocks finished lower Tuesday, with all three major indexes losing about 1%, as a 3% drop in oil prices sparked a sell-off in energy stocks and Alcoa’s sales disappointment weighed down the Dow. Investors also were on edge after Japanese officials raised the threat level at [...]

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Google gets green light to buy airline fare tracker

By doris | Published: April 10, 2011

Full Story at msnbc.com WASHINGTON — Google Inc. won government clearance with restrictions Friday for its $700 million purchase of airline fare tracker ITA Software in a deal that will give the Internet search giant a key role in online travel. Google promises to give consumers more choices and better ways to search for plane [...]

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Johnson & Johnson reaches for a Band-Aid

By doris | Published: April 3, 2011

Full Story at msnbc.com In the split second after the blast, Lance Cpl. Cody Perkins thought he was still sitting in his unit’s Humvee, enveloped in blinding dust kicked up by the roadside bomb. It was only when he slammed with shattering force onto the pavement that the 20-year-old U.S. Marine realized he’d been ejected [...]

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IRS cracks down on millionaires

By doris | Published: March 29, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — Watch out millionaires: The IRS is coming for you. Especially if you make more than $10 million. Audits of these folks surged 73% last year, hitting more than 18% of taxpayers in the highest income bracket, according to recently released statistics from the IRS.

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Auto workers: Keep jobs on U.S. shores

By doris | Published: March 27, 2011

Full Story at money.cnn.com DETROIT (CNNMoney) — Job security for auto workers used to mean ironclad labor contracts that insured they got paid whether or not they were working. But today, as the United Auto Workers union prepares to return to the bargaining table with the Big Three after four years of painful concessions and [...]

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