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American Business News for 27 May 2017

7 things you probably didn'tInes Hegedus-Garcia/Flickr Costco is known for its bargains, but did you know it's also a place where you can buy a luxurious steak? The retail giant sells a number of items that you might not... consider buyingduring yourweekly shopping trip. Of course, there are some staples you should always buy in bulk at Costco, like bacon and laundry detergents. But there are also some surprisingly pricey items that may make sense to sweep up at Costco, too. Here are seven things that Costco sells that you might not know about: 1. Coffins Costco Most people probably don't realize that Costco has an entire funeral category, selling coffins in most states. Beyond caskets, which cost between $949.99 and $2,999.99, the company also sells a variety of urns. Costco's coffins, sold in partnership with...
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A Kuwaiti logistics company has agreed to pay $95 million to resolve allegations that it inflated prices and defrauded the U.S. government for contracts to feed American troops in Iraq, …
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Chipotle says hackers used malware to steal customer payment data from most stores; amount of payment cards or customers affected is unknown.
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Trump's 2018 budget will killOtto Greule Jr /Getty Should Donald Trump's 2018 budget pass, federal funding for a proposed early earthquake warning system will disappear, killing the project faster than you can say "seismograph."... According to the proposed budget, the ShakeAlert early warning system will not receive the $8.2 million in funding it needs to be implemented. TheLos Angeles Timesreports that the system would have warned people of an upcoming quake seconds or minutes before the earth began to tremble. The program needs more seismic sensors installed along the West and Pacific Northwest, as well as a staff of about 40 or 50 to monitor them. In a statement accompanying the Interior Department's budget, interior secretary Ryan Zinke lauded Trump's budget for cutting "wasteful spending" and saving$137.8 million....
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Puerto Rico governor isHedge fund managers are feeling pain during what Puerto Rico's governor said is one of the "most challenging times" in the island's financial history. At issue are the billions hedge funds such as... Aurelius Capital Management, Monarch Alternative Capital and Tilden Park Capital Management poured into the commonwealth's bonds a few years ago. As Puerto...
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It's Time for Investors to Pounce on Banks

Barron's - 27 May 2017 06:38
It's Time for Investors toCitigroup could be a big winner in this year's stress tests. Here's how to position yourself to take advantage.
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Here's how Trump's salaryBeing a world leader isn't merely about having a powerful military arsenal at your disposal or inspiring a generation of youth to become productive members of society. It's also about the delicate... balancing act between progressing one's country and defending the fundamental principles of its social or moral code -- and with so much responsibility, you can be sure to expect a democratically elected president or even a monarch to be amply compensated for their services. Of course, the buck doesn't stop there: After the end of one's term, there's always the lucrative speaking engagement circuit or book deal they could sign on to -- Hillary and Bill Clinton reportedly earned over $10 million from mostly speaking fees and royalties in 2015. Regardless, the base pay for our world leaders isn't...
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The New Starbucks CEO Seems ToThe first major initiative under new CEO Kevin Johnson, the North Star project, has landed with a thud.
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He made record profits for automaker during his short tenure at the top, but could not survive a 40% plunge in stock price
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LinkedIn founder Reid HoffmanSteve Jennings/Getty Images LinkedIn cofounder Reid Hoffman is leading a $30 million investment in Change.org, the for-profit"social change platform" that's best known as a site for activists to post... petitions to the public. Hoffman revealed that he'll be leading the round in a post to LinkedIn, with Fortune reporting that Microsoft cofounder Bill Gates and Y Combinator President Sam Altman will also be participating. All three tech leaders actually participated in the company's last $24 million investment round back in late 2014. Other existing Change.org investors include Richard Branson, Ashton Kutcher, and the rapper Nas. In his post, Hoffman refers to Change.org as "a crucial democratizing force," elaborating that "its users and petition starters hold powerful interests accountable."...
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A federally funded economic development organization that has helped bring and save hundreds of jobs in depressed areas of Maine, New Hampshire, Vermont and upstate New York is slated for …
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How to Find YourNew Census data reveals the many diverse fields--from carpet cleaning to real estate brokering--where everyday Americans are breaking $1 million in annual revenue.
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$8 billion Atlassian brings onAtlassian Atlassian, the $8 billion Aussie teamwork software titan, is a little different from most tech companies. Just for starters, when it filed for its 2015 IPO, it revealed that it had been... consistently profitable since the decade previous-- without doing a single round of traditional venture capital financing. Furthermore, Atlassian has gotten to this point without a traditional outbound sales team, instead relying largely on word-of-mouth to bring in big deals. And still, it generates free cash flow every quarter. "We really operate more like a consumer company than a typical enterprise software company," Atlassian president Jay Simons tells Business Insider. "[We're] more like Amazon, than a company like Oracle." So it's fitting that the company has brought in Robert Chatwani, a...
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Texas company sues Alabama school system

Miami Herald - 27 May 2017 16:07
A Texas company is suing an Alabama school system over an educational program for young prisoners. Grade Results maintains the Athens Board of Education owes it more than $2 million …
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Parsons School Of DesignInnovative partnerships between students and their college alma maters can create win win collaborations for students, alumni, and the institution.
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The Pentagon is planning its first test of a system for shooting down an intercontinental-range missile. Officials say the goal is to more closely simulate a North Korean ICBM aimed …
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Rex Tillerson: The West mustREUTERS/JUNG Yeon-Je/Pool Western countries have to grapple with the problem of assimilation in addition to more direct counterterrorism tactics, Secretary ofState Rex Tillerson said on Friday. "For... whatever reason, as people immigrate into our countries, whether it be in Great Britain or in the United States or other countries, we seem to have difficulty assimilating those people so that they feel part of our society and would never consider supporting acts of violence against their fellow citizens and their fellow neighbors," Tillerson said during a press conference in London. Tillerson's remarks, in a joint press conference with UK Foreign Minister Boris Johnson, came as the UK deals with the aftermath of the suicide bombing in Manchester. That attack was carried out by a British-born...
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Be Wary of Hedge Fund ETFs

Barron's - 27 May 2017 07:03
Be Wary of Hedge Fund ETFsHedge funds are expensive, says Bill Ackman. ETFs that aim to replicate hedge fund returns are cheap, but you might get what you pay for.
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Nebraska oasis offers visitors a quiet retreat

Miami Herald - 27 May 2017 07:01
There is a place in Nebraska that you reach by bumping west down a dusty one-lane road, inching to your destination as the sun sets so brilliantly purple-red over the …
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Where driverless cars are concerned, the future is almost here. And a major player in making the groundbreaking change in our culture a reality is based in Morton. AutonomouStuff was …
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Oh, Lord, Why Won't DonaldDonald Trump should applaud, not scorn, German auto companies selling cars, investing in plants and employing workers in America.
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Arguably the best player in one of the world’s most popular games has just surpassed a huge benchmark in tournament earnings. Lee “Faker” Sang Hyeok has won over $1 million playing League of... Legends competitively, according to data-tracking site Esports Earnings. Faker is the first pro League player to surpass that barrier. Now, after 35 […]
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H1B visa: Bill seekingThe bill introduced in the House of Representatives seeking exemption for foreigners with US PhD is likely to benefit Indians given that they constitute the largest number
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The US Forest Service owns aDavid McNew/Getty Images The Forest Service oversees thousands of buildings that are unused, many that are falling apart, full of mold, and pose safety hazards, according to a new audit. The inspector... general for the US Department of Agriculture found that the Forest Service has compiled over $5 billion worth of repairs to buildings, roads, dams, and trails it operates. Officials admit they are becoming a "national junkyard" by overseeing thousands of decrepit buildings the government does not need. "During our fieldwork, we observed [Forest Service] buildings that were not inspected as well as buildings that forest officials stated had structural issues, mold growth, wide-spread rodent droppings, and other health and safety concerns including 20 buildings with concerns so severe that...
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What Bad News? Markets SurgeThe S&P 500 and the Nasdaq Composite both hit record highs, as stocks remain impervious to blaring headlines and disappointing data.
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