St. Louis-based CPI Corp. sued for allegedly misleading investors

A pension fund has sued St. Louis-based CPI Corp., alleging that the portrait studio operator broke federal securities laws by misleading investors about the company’s financial health.
The suit, filed by IBEW Local 98 Pension Fund, is seeking class action status for shareholders who purchased the company’s common stock between April 20, 2010 and December 21, […]

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Stocks sell off as banks tank

U.S. stocks closed sharply lower Monday as bank shares took a beating amid fresh concerns about the debt crisis in Europe.
The Dow Jones industrial average () fell 100 points, or 0.8%, to end at 11,766. The S&P 500 () sank 14 points, or 1.2%, to 1,205. The Nasdaq () slid 32 points, or […]

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Clinton meets flood victims on quick Thailand trip

U.S. Secretary of State Hillary Rodham Clinton played with a toddler and asked a little girl if she misses school during a quick visit Thursday to an evacuation center for Thai flood victims, a day after announcing a $10 million aid package.
Clinton exchanged the traditional Thai greeting known as “wai” _ bowing deeply while pressing […]

Staples 3Q net income rises, lowers 2011 outlook

Staples Inc. says its third-quarter profit climbed 13 percent, helped in part by better sales of office and break room supplies to businesses as well as promotional products.
But the nation’s biggest office supply company cut its full-year adjusted earnings forecast on Tuesday as its international performance weakened a bit.
Office suppliers have suffered during the recession […]

Ameren offers buyouts to 715 employees

Ameren Corp. announced Friday that it is offering buyouts to 715 employees at its Missouri utility and support services units.
The offer is being extended to 5,700 full-time union employees and managers at Ameren Missouri and Ameren Services who will be 58 or older at end of the year.
The employees are being offered two weeks of […]

Dow falls more than 400 on fears about economy

Investors on Wall Street and around the world sold stocks with abandon Thursday, more convinced than ever that the United States and perhaps the globe are headed for a new recession.
The Dow Jones industrial average fell as much as 527 points, the second consecutive rout in the stock market since the Federal Reserve announced a […]

Scotiabank taps into China

Bank of Nova Scotia is taking a stake in China

Stock futures rise after Irene weaker than feared

U.S. stock futures are rising after the damage from Tropical Storm Irene wound up being less than many analysts had anticipated.
The storm ripped through the East Coast and caused widespread flooding. Millions were without power. However a consulting firm predicted that insured damages would range between $2 billion and $3 billion, lower than initially estimated.
Insurer […]

$103M to expand broadband Internet in rural US

Telecommunications companies in 16 states will share more than $103 million in federal funding to help expand broadband Internet access to those areas of rural America that haven’t been reached by the high-speed service or are underserved, the U.S. Department of Agriculture announced Monday.
Policymakers, public interest groups and telecom companies are seeking to bridge the […]

Wrong numbers can lead volatile markets astray

Gross domestic product, the labour market, industrial production, housing starts