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NY Times By : Staff Reporting
Google is set to introduce a subscription music feature to compete against fast-growing streaming services like Spotify, according to several people briefed on its plans.
Google is planning to introduce the new service as early as Wednesday at Google I/O, the company’s annual conference for software developers. - More
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NBC News By : Staff Reporting
A federal judge has again ordered Wells Fargo to pay $203 million to settle class action litigation accusing it of imposing excessive overdraft fees on checking account customers, reviving an award that had been thrown out last year.
U.S. District Judge William Alsup reinstated on Tuesday a penalty he first imposed in August 2010, saying the fourth-largest U.S. bank violated a California law that protects consumers against fraudulent misrepresentations. - More
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The Globe and Mail By : Staff Reporting
Deere & Co. reported higher-than-expected quarterly results on Wednesday and forecast a record profit for the full year, but it said it was cautious because of weakness in the construction market.
The company, the world’s largest maker of farm equipment, slashed its forecast for sales to the construction industry, citing concerns about the outlook for U.S. economic growth and other factors. - More
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Bloomberg By : Staff Reporting
Mexican shorter-term bond yields declined to record lows on speculation policy makers will further reduce benchmark borrowing costs amid signs of slowing economic growth.
Yields on peso bonds due in December 2014 dropped two basis points, or 0.02 percentage point, to 3.77 percent at 10:22 a.m. in Mexico City, according to data compiled by Bloomberg. - More
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All Media NY By : Staff Reporting
Defense department to let Apple devices onto Pentagon network The U.S. Defense Department plans to let its employees use Apple's mobile devices on its military network.
Pentagon employees may soon start using Apple mobile devices, like iPhones and iPads, on the U.S. Defense Department's secure network.
The department expects to clear the devices for use on its network early next week, Bloomberg reported Friday. - More
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Market Watch By : Staff Reporting
The fewest Americans in more than five years applied for new unemployment benefits last week, a surprising decline that may reflect seasonal quirks more than a sudden improvement in the jobs market. Initial jobless claims — a rough gauge of layoffs — sank by 18,000 to a seasonally adjusted 324,000 in the week ended April 27, the Labor Department said Thursday.
That’s the lowest level since January 2008. - More
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eNews Reference By : Staff Reporting
In an ad titled "It's No Secret," J.C. Penney took to Facebook and YouTube to issue an apology to its customers.
A voice over states, “Some changes you liked, and some you didn't. But what matters with mistakes is what we learn. We learned a very simple thing, to listen to you.”
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eNews Reference By : Staff Reporting
The three major automakers posted their strongest sales in the month of April since 2007.
Trucks and SUV's lead the surge for Ford General Mothers and Chrysler. Ford Motor Co.'s sales rose 17.9% and both Chrysler and General Motors Co reported an 11% gain for the month.
Chrysler's Ram truck division saw sales rise 49% from a year earlier while GM's twin trucks, the GMC Sierra and the Chevrolet Silverado, were up 23.6%.
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The Dallas Morning News By : Staff Reporting
Prices of pre-owned homes in the Dallas area rose 7.1 percent in February — a record increase for North Texas in the monthly Standard & Poor’s/Case-Shiller Home Price Index. But Dallas’ prices couldn’t keep up with the nationwide 9.3 percent increase from a year ago.
Home price gains in the Dallas area are less than half what they are in places like Phoenix, San Francisco and even Detroit, according to Case-Shiller. - More
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eNews Reference By : Staff Reporting
Chief Executive Officer of J.C. Penney Co. is acted quickly to shore-up J.C. Penny's financial position.
With a $1.75 billion loan committment from Goldman Sachs Group and price hikes Ullman hopes to stanch the retailer's cash issue.
The influx of cash will be used as working capital and to addres the company's 7.125 percent notes.
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