Most interesting finance and busines news.
South Korea's central bank is likely to cut interest rates further to protect the economy from the global slowdown, according to the head of the Korea Development Institute.
“I believe the Bank of Korea will cut rates; the central bank has already said it can,'' Hyun Jung Taik, president of the state-run researcher, said […]
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Shares of Morgan Stanley and Goldman Sachs, the last two big investment banks, plunged again Friday as fears about the fate of the banking sector remained front and center in the ongoing global financial crisis.
The two companies have been among the hardest hit stocks during this devastating market decline. But shares of several other […]
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The American Planning Association has named the Wilson Boulevard-Clarendon Boulevard corridor in Arlington one of 10 great streets in the U.S. for 2008.
The second annual award, sponsored by Chicago-based APA’s Great Places in America program, recognizes the role planning plays in creating communities.
Arlington’s implementation of smart growth measures in the area have resulted in above-average […]
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European retail sales fell for a fourth month in September as higher consumer prices and the worsening credit squeeze sapped confidence, the Bloomberg purchasing managers index showed.
The measure of sales in the euro area fell to 46.2 from 47.7 in August. A reading below 50 indicates contraction. The index is based on a […]
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China's central bank may cut the amount of cash it requires lenders to set aside as reserves as inflation slows and economic growth weakens.
Inflation was the weakest in 14 months in August, export growth cooled and industrial output grew by the least in six years, according to data released this week.
The government […]
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Longs Drug Stores Corp. agreed to settle some class action lawsuits connected to its proposed sale to CVS Caremark Corp.
A court must still approve any settlement, which would dismiss the claims. Complaints had been filed against Longs (NYSE: LDG) on behalf of the Louisiana Municipal Police Employees' Retirement System, Steamfitters Local 449 Pension Fund […]
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Hawaii is among the top 10 states where taxpayers bear the heaviest state-local tax burdens, according to a recent study by The Tax Foundation.
Hawaii ranked fifth, with residents paying 10.6 percent of their income in taxes.
The Tax Foundation ranks states based on state and local tax collections, including out-of-state tax […]
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South Korea posted a current-account surplus for the first time in seven months as exports gained.
The surplus was $1.82 billion in June, compared with a deficit of $377.5 million in May, the Bank of Korea said in Seoul today. The current account is the broadest measure of trade, tracking goods, services and investment […]
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The Federal Communications Commission headed to Carnegie Mellon University Monday to take public and expert input on the future of Internet access.
In an uncommon public appearance together outside of Washington, D.C., the federal agency's five commissioners headed two panels at the university on issues related to digital media and broadband access. Participants […]
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Starbucks Corp.’s plan to close several hundred stores is a step in the right direction but analysts say it may not be enough to solve the problems facing the company.
Starbucks did not give details about which locations will be closed, but Stephen Kron of Goldman Sachs said he thinks the closings will be weighted […]
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