Finance counsels

South Korea's industrial output rose less than economists expected in May, adding to signs the economy's expansion will slow this year.
Production climbed 8.3 percent from a year earlier, easing from April's revised 10.4 percent gain, the National Statistical Office said today in Gwacheon. That fell short of the 9.8 percent median estimate in […]

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Merrill Lynch & Co (MER.N: Quote, Profile, Research, Stock Buzz) will likely write down $5.4 billion of securities in the second quarter, mainly due to its exposure to bond insurers, an analyst at Lehman Brothers wrote on Friday.
The quarterly write-down estimate, one of the highest yet for Merrill Lynch, helped sink the company’s […]

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Spanish inflation accelerated to the fastest pace on record in June as oil and food prices surged.
Consumer prices rose 5.1 percent from a year ago after increasing 4.7 percent in May, based on the European Union's calculation method, the Madrid-based National Statistics Institute said today. That's the fastest inflation since the harmonized methodology […]

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The City of Houston on Thursday is expected to unveil plans for a major multi-use recreational project in South Houston adjacent to State Highway 288.
The complex, on an 80-acre site owned by the city, will include as many as 18 outdoor soccer and athletic fields with natural and artificial turf. Part of […]

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Terrence Cole, a former CFO for Heritage Mortgage, admitted on Monday to federal charges that he conspired to commit wire fraud and money laundering in connection with a wider mortgage fraud scheme that netted $14 million in illegally obtained loans.
Federal prosecutors in Kansas indicted Cole and other co-defendants in November for their […]

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Europe's manufacturing and services industries unexpectedly shrank and German business confidence slumped in June, increasing concern the European Central Bank's plan to raise interest rates next month will hurt economic growth.
Royal Bank of Scotland Group Plc's composite index fell to 49.5 from May's 51.1, the first time it dropped below 50 in five […]

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Bank of Canada Governor Mark Carney said policy makers won't be “complacent'' as inflation in the country accelerates, even if it means surprising investors as they did with last week's rate decision.
The cost of goods such as gold and wheat rose 10 percent between the bank's April forecast and its latest rate decision […]

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Amazon.com Inc. said it will open a new fulfillment center in Goodyear, Arizona, outside of Phoenix, in the third quarter of 2008.
The 500,000-square-foot center will create 600 full-time jobs and an additional 700 temporary jobs during the 2008 holiday season, according to the Seattle-based online retailer (NASDAQ: AMZN).
Amazon already operates another […]

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Glassware and porcelain sales shot up more than 30 percent last month at the downtown Tokyo housewares store Kenji Wako manages. “People wanted to get a bargain before prices went up,'' he says.
Japan, a nation that has seen mostly falling prices for years, is experiencing something it isn't used to: a “buy now'' […]

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Hoku Scientific will offer up to $54 million in shares to raise money for its polysilicon production plant.
The Kapolei-based technology company (Nasdaq: HOKU), in a filing with the Securities and Exchange Commission on Thursday, said it would offer the shares through a distribution agreement with UBS Securities. The agreement allows Hoku to sell […]

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