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AIG eyes new director with regulatory experience
ReutersBy Nadia Damouni and Paritosh Bansal May 23 (Reuters) - American International Group Inc's board is looking for a new director with regulatory experience, as the insurer readies for the government to classify it as big enough to merit greater scrutiny,...Tags: Corporate Officers, American International Group, Federal Reserve, Politics, Economy, Business and Finance
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Yuan slips, weak data challenges govt currency appreciation stance
Reuters* PBOC sets midpoint weaker after 2 days of record highs * China factory activity shrinks in April - HSBC * U.S. Fed sends mixed signal on QE exit * China official says U.S. QE exit could cause fund outflows By Lu Jianxin and Pete Sweeney SHANGHAI, May...Tags: Japan, Beijing (China), China, Central Bank, Money and Monetary Policy
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PRESS DIGEST - Wall Street Journal - May 23
ReutersMay 23 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. * Hundreds of JPMorgan Chase & Co employees have been redeployed to help the bank resolve...Tags: Ford, JPMorgan Chase & Co., Manufacturing and Engineering, Google Inc., Passenger Cars
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China's Lenovo buys and diversifies to outshine PC rivals
ReutersHONG KONG (Reuters) - Lenovo Group Ltd's bold acquisitions in its flagship PC business, a foray into mobile gadgets, and a relatively light debt load are setting it apart from PC rivals as industry shipments take their steepest fall in decades. Lenovo, a...Tags: Thomson Corporation, Quarterly or Semiannual Financial Statements, Germany, Mergers, Acquisitions and Takeovers, Hewlett-Packard Co.
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GLOBAL MARKETS-Asian markets sell off on Bernanke remarks, China PMI
Reuters* JGBs dive, 10-year JGB yield hits highest since April 2012 * Dollar index hits highest level since July 2010 * Asian shares down after China HSBC flash PMI, credit spreads wider By Masayuki Kitano and Hideyuki Sano SINGAPORE, May 23 (Reuters) -...Tags: Financial Markets, Germany, DAX, Nikkei, Federal Reserve
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Monica Ratliff's election to L.A. school board is 'huge upset'
On its face, the election this week of a Los Angeles fifth-grade teacher to the Board of Education was a stunner. Monica Ratliff's low-budget effort included her boyfriend, a film school instructor, as her campaign manager. She had no paid staff and no...
Tags: Teachers, Michael Antonovich , Michael Bloomberg, Politics, Students
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Carrefour sells stake in Middle East venture for $683 million
ReutersDUBAI (Reuters) - Carrefour , Europe's largest retailer, agreed to sell its remaining 25-percent stake in a Middle East joint venture to local partner Majid Al Futtaim (MAF) for 530 million euros ($682.45 million), MAF said in a statement on Wednesday....Tags: Carrefour S.A., Walmart, Restructuring and Recapitalization, Dubai (United Arab Emirates), United Arab Emirates
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Bernanke says more progress needed before stimulus pullback
ReutersWASHINGTON (Reuters) - The Federal Reserve's monetary stimulus is helping the economy recover but the central bank needs to see further signs of traction before taking its foot off the gas pedal, Fed Chairman Ben Bernanke said on Wednesday. A decision to...Tags: Energy, Financial Markets, Central Bank, Consumer Confidence, U.S. Congress
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Bell city manager calls state audit unfair, defends reform progress
The city manager of Bell called unfair a state report critical of the town’s progress after a massive corruption scandal. State Controller John Chiang issued his final audit on Bell on Wednesday morning, nearly three years after the scandal...
Tags: Bell City Council, Theft, John Chiang, Economy, Business and Finance
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Swiss banks fear heavy fines in U.S. tax deal: sources
ReutersZURICH (Reuters) - Swiss banks fear heavy fines they expect to pay to settle a long-running dispute with U.S. authorities over helping wealthy Americans evade tax could hit smaller lenders particularly hard, sources said. Finance Minister Eveline Widmer-...Tags: UBS AG, Fines, Financial Markets, Zurich (Swiss Confederation), Economy, Business and Finance
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Glencore shines on busier than expected Wednesday
ReutersBy Shankar Ramakrishnan NEW YORK, May 22 (IFR) - It was busier than expected on Wednesday with the much-anticipated Glencore Funding multiple trancher giving the US high-grade primary market a much-needed USD5bn volume boost. The day ended with...Tags: Credit Ratings, Memorial Day, Entergy Arkansas Inc., Mortgages, Mountain West Conference
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U.S. Justice Dept tells lawmakers no bank is too big to jail
ReutersBy Sarah N. Lynch WASHINGTON, May 22 (Reuters) - A Justice Department official insisted on Wednesday that no financial company is too big to jail, in the department's latest effort to backpedal from statements made in March by Attorney General Eric...Tags: Financial Markets, Arthur Andersen, U.S. Senate, Eric Holder, Parties and Movements
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