Sears spins off Canada stake to focus on US stores
2012-05-17T15:43:20Z
Sears Holdings Corp. said Thursday it returned to a profit in the first quarter as it benefitted from a gain on the sale of underperforming stores. The troubled retailer also said it would spinoff a stake in its Canada unit to focus on turning around its U.S. business.
Wal-Mart's 1Q profit up 10.1 percent
2012-05-17T15:41:00Z
Wal-Mart's U.S. business finally got its groove back.
Strong Wal-Mart profit trumps bribery probe concerns
2012-05-17T15:35:48Z
(Reuters) - Wal-Mart Stores Inc's quarterly profit and sales surpassed expectations on Thursday as more people shopped its established U.S. stores and spent more, pushing its shares up more than 5 percent despite ongoing probes into possible bribery. Wal-Mart's shares have recovered all of the 8.2 percent plunge suffered after an April 21 New York Times report uncovered alleged bribes paid in Mexico and an internal investigation that was squashed by Wal-Mart executives. "Generally things seem to be very much on track," said Faye Landes, managing director at Consumer Edge Research. ...
Essence fest adds 4th day to spotlight new talent
2012-05-17T15:35:35Z
The next generation moves to the forefront at this year's Essence Music Festival, which expands to four days of concerts and sets aside a day of activities geared toward emerging talent.
Buffett's Berkshire to buy Media General papers
2012-05-17T15:35:24Z
Billionaire Warren Buffett's company is making another foray into newspapers, agreeing to buy 63 newspapers from Media General Inc. for $142 million.
UN rights chief to make first visit to Zimbabwe
2012-05-17T15:34:07Z
HARARE (Reuters) - United Nations human rights chief Navi Pillay will visit Zimbabwe next week as President Robert Mugabe seeks to dispel charges that Harare is a major rights violator. Pillay will be the first U.N. rights chief to visit the country and was invited by Mugabe's government, which in 2009 expelled Manfred Nowak, a former U.N. rights investigator. The West has imposed sanctions on Mugabe and his allies, accusing them of election violence and using state security agents to beat up and detain opponents. ...
A clown at Cannes: Bill Murray at the Riviera fest
2012-05-17T15:30:02Z
Clad in a plaid jacket that could have come out of Rodney Dangerfield's wardrobe in "Caddyshack," Bill Murray clashed with traditional Cannes fashion but made the most of the film festival in every other way.
Obama camp urges Romney to show 'moral leadership'
2012-05-17T15:28:47Z
President Obama's campaign is calling on Mitt Romney to push back harder against plans by a conservative-leaning independent group to showcase Obama's ties to his controversial pastor.
Spanish government denies Bankia deposit exit report
2012-05-17T15:27:38Z
MADRID (Reuters) - The Spanish government denied a newspaper report on Thursday that customers had withdrawn more than 1 billion euros ($1.3 billion) from the partly nationalized lender Bankia over the past week. Bankia itself said that deposit activity was normal but the government's denial helped its shares to recoup some of their heavy losses which had accelerated on Thursday. Economy Secretary Fernando Jimenez Latorre denied a deposit flight was underway. ...
Arbitrator hears arguments on NFL player penalties
2012-05-17T15:26:18Z
Arbitrator Shyam Das heard arguments Wednesday from NFL and players union lawyers on whether Commissioner Roger Goodell can discipline players for actions that occurred before the league's current labor agreement was signed last August.
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