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16 Sep 2014 - United States
The two hedge fund executives in bespoke suits turned to each other, winked and said, "Open sesame!" That reference to the magic words that reveal hidden treasure in the classic fairy tale failed to... impress the security guard at the private elevator taking invited guests up to the 18th-floor suite of rooms in New York's Waldorf Astoria hotel for the Alibaba investor presentations last Monday. And the two investors shrugged before strolling back to the end of the line of almost 800 investors, which wound its way through the ground floor and basement of the hotel.
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(Reuters) - Wal-Mart Stores Inc's Chief Spokesman David Tovar resigned after the company allegedly found that he had lied about his academic record in his resume, Bloomberg reported, citing a person... familiar with the matter.
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Microsoft to buy 'Minecraft'What started as a one-man project and quickly grew into a computer game phenomenon played by tens of millions of children and adults worldwide will be absorbed by Microsoft Corp. for $2.5 billion.
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This article appeared at 9:30 a.m. EDT on RealMoney Sept. 5. SAN DIEGO (RealMoney) -- Should Amazona buy RadioShacka or Best Buya ? SunTrust analyst Bob Peck is putting out the thought today that... Amazon should buy RadioShack. He has a good idea, but has the wrong company. Let me explain: In Peck's piece today, he says: "As we've been thinking about the expansion of eCommerce into local, we have also noticed the decline of several local chains. This can be for a variety of reason, including: bad locations, over build out of stores, inability to keep up with the changing consumer demands, and poor inventory. The most recent struggling chain is RadioShack. In fact, its CEO, Joe Magnacca, said last week that the company may have to seek bankruptcy and try to reorganize the company and its...
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General Motors is adding 750 workers to a Missouri factory in anticipation of high demand for two new small pickup trucks.
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Would Scotland ditch the pound?

CNN - 16 Sep 2014 06:59
CNN's Nina dos Santos looks at what currency options would be available to an independent Scotland.
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DealBook: Pressure for HighThough university officials defended her record, Jane Mendillo drew scrutiny from alumni and others over relatively high pay and lackluster investment results.
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Yahoo (NASDAQ:YHOO) has been riding the Alibaba wave, with its stock gaining in the last month due to its giant share of the Chinese e-commerce giant, whose much-anticipated initial public offering on... Sept. 19 could be the biggest tech IPO of all time. But don't expect that surge to last, say analysts.
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Regulators Are Faulted in Defects at General Motors

The New York Times - 16 Sep 2014 04:54
Federal regulators had ample information to identify the deadly ignition defect in General Motors cars as early as 2007, a House committee investigating the National Highway Traffic Safety... Administration has found.
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DealBook Column: LevensonAfter outrage over an email by the owner of the Atlanta Hawks led to his decision to sell his team, companies have begun a conversation about singling out demographic groups.
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Deliberations to decide who will get the area's lone casino license will stretch into another day.
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As Fed meets, markets fixate on 2 words

USA Today - 16 Sep 2014 03:28
As Fed meets, markets fixateSome economists anticipate new Fed signals on 2015 rate hike planning.          
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Corporate Courts -- A Big Red Flag on 'Trade' Agreements

The Huffington Post - 16 Sep 2014 03:10
Corporate Courts -- A Big RedThink about everything you understood about our system of government here in the United States. We're governed under a document that starts with the words, "We the People." Right? When We the People... agree that something should done to make our lives better, it's supposed to get done. Right? You didn't know it, but that whole system changed several years ago. Our government, in our name, signed a document that placed corporate profits above our own democracy. The "investor-state dispute settlements" chapter in NAFTA (and similar agreements) places corporate rights on above the rights of people and their governments. As a result of "NAFTA-style" investor protections that are part of so-called "trade" agreements, giant corporations can and do sue governments for trying to pass laws that...
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Under regional recalls, automakers limit notification and repairs to specific states or regions based on factors, like extreme heat, that cause a part to fail.
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Richard Branson Explains WhyBillionaire entrepreneur and Virgin Group founder Richard Branson just made it official on Monday that he became the latest investor in 3D Robotics, a commercial drone company founded by ex-Wired... Magazine chief editor Chris Anderson. The financial terms of the deal were not disclosed. Branson is pretty well-known for his affinity for flying machines. But with today's investment, he hopes more people will be able to enjoy the benefits of commercial drones. "It's amazing to see what a little flying object with a GoPro attached can do. Before they came along the alternative was an expensive helicopter and crew," Branson said in a statement. "I'm really excited about the potential 3D Robotics sees in drones. They can do a lot of good in the world, and I hope this affordable technology will...
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California bouncing back afterThe economic recovery in California struggled through the first half of the year but now is picking up speed, driven by improvements in the real estate and the job markets, according to a quarterly... report from Beacon Economics and City National Bank.
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Bits Blog: Nominee forGünther Oettinger, the E.U.'s nominee for digital economy commissioner, said that companies like Google threaten to consign European firms to roles of parts or service deliverers.
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The Fed will next need to focus on the central bank's power to set interest rates, but economic and strategic questions will shape their decisions.
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District-based Danaher on Monday announced a $2.2 billion tender offer for Nobel Biocare, a Swiss manufacturer of dental implants widely used in cosmetic surgery. The acquisition would expand... Danaher's already-significant presence in the global dental industry.
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Momentum is building for a net neutrality compromise

Washington Post - 16 Sep 2014 19:46
Internet service providers (ISPs) and net neutrality activists appear increasingly interested in a proposal that would give consumers more control over their Internet service, a hopeful sign for... compromise in the debate about whether all Internet traffic should be treated equally.
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Former Putin Aide Reinforces Dangers of Sanctions

The New York Times - 16 Sep 2014 19:42
Former Putin Aide ReinforcesEuropean Union and American sanctions have pushed Russia to a point between growth and recession, said Aleksei Kudrin, a former finance minister.
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The good news is that there are 200 million fewer people suffering from undernourishment today than there were 20 years ago. The bad news is that more than 800 million are still chronically hungry.... The latest Food and Agriculture Organization (FAO) estimates, which were included in a new report released Tuesday by the United Nations, found significant declines in the number of hungry people around the world, including more than 100 million people over the past decade alone. The global rate of undernourishment has fallen from just under 19 percent to just over 11 percent since 1992, and from 23.4 to 13.5 percent in developing countries, over the same period.
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Neither the number of Americans living in poverty nor the median U.S. household income has changed significantly since 2011, the Census Bureau said Tuesday. The bureau's report marks the latest... evidence that the economic recovery has yet to reach most Americans.
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The California Public Employees' Retirement System, the largest public pension fund in the U.S., wants out of hedge funds. The financial institution, known as Calpers, said it will divest $4 billion... from such investments because they are too costly and complex.
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The military's top officer told a Senate panel Tuesday that U.S. troops could end up fighting side by side with Iraqi troops against the Islamic State. Gen. Martin Dempsey said he would recommend... ground troops to President Barack Obama if the battle called for it while answering senators' questions on the militant group also known as ISIS.
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