Business
Lew taps government retiree pension fund
Treasury Secretary Jacob Lew said late Monday he will begin tapping into two government employee retirement funds to buy more time before the U.S. Treasury is faced with the prospect of defaulting on the national debt. In a letter to congressional leaders, Lew said that he would tap the civil ...
Judge tosses ex-BP executive's obstruction charge
A federal judge has dismissed a charge that is the backbone of the case against a former BP executive accused of concealing information from Congress about the amount of oil spewing in 2010 from the company's blown-out well in the Gulf of Mexico. Defense attorney Reid Weingarten called it a ...
Yahoo looks to regain its cool with Tumblr deal
After falling woefully out of fashion, Yahoo wants to be cool again while catering to the capitalistic demands of its shareholders. That goal led CEO Marissa Mayer to make a $1.1 billion bet on online blogging forum Tumblr in a risky acquisition that revolves around the vision and instincts of ...
Panel: Apple uses firms outside US to avoid taxes
Apple Inc. employs a group of affiliate companies located outside the United States to avoid paying billions of dollars in U.S. income taxes, a Senate investigation has found. The world's most valuable company is holding overseas some $102 billion of its $145 billion in cash, and an Irish subsidiary that ...
Should we let wunderkinds drop out of high school?
It's one thing to say tech geniuses don't need degrees. After all, Bill Gates, Steve Jobs and Mark Zuckerberg all dropped out of college. But now we've got David Karp, who doesn't even have a high school diploma. Karp, 26, founded Tumblr, the online blogging forum, and sold it to ...
Lease to Broadway's biggest theater sold
Britain's biggest theater group has reached across the Atlantic Ocean and bought the lease to Broadway's largest theater from Live Nation Entertainment for about $60 million. Ambassador Theatre Group said Monday it has acquired rights to The Foxwoods Theatre, the 2,000-seat current home of "Spider-Man: Turn Off the Dark." The ...
Warren Buffett gives young entrepreneurs 10 shares
Meeting Warren Buffett was exciting, but 10-year-old Matthew Meyer said winning $5,000 and 10 shares of stock in Buffett's company made Monday the best day of his life. Matthew said he never expected to make the finals in Omaha, much less win the entrepreneurial contest tied to "The Secret Millionaire's ...
Actavis buying Warner Chilcott in $8.5B deal
Actavis is buying Warner Chilcott in an all-stock deal valued at about $8.5 billion that would create the third-biggest specialty pharmaceutical company in the U.S. market. The announcement Monday comes after the companies said earlier this month that they were in talks about a possible pairing of one of the ...
Senators require fingerprinting at 30 airports
Senate supporters of far-reaching immigration legislation accepted minor changes in public while negotiating over more sweeping alterations in private Monday as they drove toward expected Judiciary Committee approval by mid-week. In a long day of drafting, the panel voted to begin phasing in a requirement for foreigners to undergo fingerprinting ...
Small company stock are a bright spot
Small-company stocks were a bright spot in a subdued start to the week for Wall Street. The Russell 2000, an index of small-company stocks, climbed above 1,000 points for the first time and ended higher Monday, even as the Dow Jones industrial average, the Standard & Poor's 500 index and ...
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