2 More Democratic Candidates Decline to Join in Fox News Debate
Date: 01 June 2007
By Jacques Steinberg and Raymond Hernandez
Jacques Steinberg
Despite the defection of Senator Christopher J. Dodd of Connecticut and Gov. Bill Richardson of New Mexico, the forum is scheduled to go on as planned.
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Estonia: Settlements in S.E.C. Case
Date: 01 June 2007
By Bloomberg News
Bloomberg News
An investment bank in Estonia, Lohmus Haavel & Viisemann, and a former worker agreed to pay $15 million to settle Securities and Exchange Commission allegations that they had made illegal trades based on information from stolen news releases. The former employee, Oliver Peek, will forfeit $13 million in profit and will pay a $1.35 million fine. The bank will pay a $650,000 penalty, the S.E.C. said. They neither admitted nor denied wrongdoing in agreeing to the sanctions. The S.E.C.’s lawsuit accused Lohmus Haavel, which is based in Tallinn, of using a computer program to retrieve information on more than 200 United States companies from Business Wire’s secure Web site before announcements were made public from January to November 2005.
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A Wobbly Quarter for Sears and Costco
Date: 01 June 2007
By Bloomberg News
Bloomberg News
Sears reported profit that trailed analysts’ estimates while earnings at Costco Wholesale fell 4.9 percent on the cost of a new return policy.
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Dow Jones Shares Surge on Bancroft News
Date: 01 June 2007
By Dealbook
Dealbook
Dow Jones & Company‘s stock is off and running.
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Appeals Rejected in Cheating Scandal
Date: 02 June 2007
By Bloomberg News
Bloomberg News
Fuqua School of Business at Duke University in Durham, N.C., rejected appeals from 24 students who were punished earlier this year in a cheating scandal. The master’s of business administration students were given until June to appeal. In April, 34 students were punished after a professor noticed similarities among their work. Nine students faced expulsion and 15 faced a one-year suspension and a failing grade in the course. Ten others were found guilty of lesser offenses.
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Deficit Expected to Be Less Than Predicted
Date: 01 June 2007
By Bloomberg News
Bloomberg News
This year’s federal budget deficit probably will be about $200 billion, $44 billion less than the Bush administration first forecast, said the White House budget director, Rob Portman. In a briefing on budget negotiations with Congress, Mr. Portman attributed the lower number to a growing economy that is bringing in higher tax revenue combined with efforts to hold down government spending. “There’s no magic to it,” he said. “The point is the deficit is going down, and it has been going down.”.
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India: Expansion at Two-Decade High
Date: 01 June 2007
By Bloomberg News
Bloomberg News
India’s economy grew at the fastest rate in almost 20 years in its last fiscal year as companies lifted production to meet surging consumer demand. The economy expanded 9.4 percent in the year, which ended March 31, the biggest gain since 1989 and more than the government’s initial estimate of 9.2 percent, the Central Statistical Organization said. India’s economy grew 9.1 percent in the three months to March 31, according to the report, averaging a quarterly pace of 8.8 percent in the last two years compared with 5.7 percent in the 1990s. Manufacturing gained 12.4 percent while mining rose 7.1 percent and electricity output climbed 6.9 percent in the quarter. Agriculture, which accounts for a fifth of the economy, grew 3.8 percent.
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Breaking News: Clemens Will Miss Chicago Series
Date: 02 June 2007
By Tyler Kepner
Tyler Kepner
The Yankees will not start Roger Clemens on Monday in Chicago, after all. Clemens hurt his groin during his last minor league start for Class AAA Scranton/Wilkes-Barre on Monday and has been unable to shake the discomfort. He will miss the Chicago series and perhaps be lost for two more weeks. Kei Igawa, who has been in the minors for about a month as he revamps his delivery, is expected to start on Monday against the White Sox.
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How the Bancrofts Decided to Talk With Murdoch
Date: 02 June 2007
By Richard Pérez-Peña
Richard Pérez-Peña
The shift from rejecting Rupert Murdoch’s bid for Dow Jones to agreeing to meet with him occurred in many small steps.
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Some on Journal Staff Voice Wish That Different Bidder Would Emerge
Date: 02 June 2007
By Eduardo Porter and Louise Story
Eduardo Porter
A small group of reporters and editors at The Wall Street Journal raised an outcry against Rupert Murdoch’s plan to buy Dow Jones.
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