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Jan 25, 2012

BLOOMBERG News, Jan 25, 2012

Montag Heralds 'New Game' for BofA Investment Banking After Reducing Risk
Bloomberg
Enlarge image Bank of America Co-Chief Operating Officer Thomas K. Montag Bank of America Co-Chief Operating Officer Thomas K. Montag Jonathan Fickies/Bloomberg Bank of America Corp. co-chief operating officer Thomas K. Montag said, “We went through a ...
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Bloomberg
Fed: Benchmark Rate Will Stay Low Until Late 2014
Bloomberg
Enlarge image Fed Says Benchmark Interest Rate Will Stay Low Fed Says Benchmark Interest Rate Will Stay Low Brendan Smialowski/Bloomberg The Federal Reserve. Play Video Federal Reserve officials said their benchmark interest rate will stay low until at ...
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Bloomberg
J.C. Penney to Change Prices Amid Revamp
Bloomberg
JC Penney's same-store sales growth trailed the average rate for 17 retailers in 11 of 12 months last year, according to data compiled by Bloomberg. Net income has declined for the past three years. Johnson has brought in former Apple executives as ...
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Bloomberg
Obama Answers Bernanke Housing Pleas With Refinancing Proposal: Mortgages
Bloomberg
Enlarge image Barack Obama Barack Obama Joshua Roberts/Bloomberg President Obama delivers the State of the Union address at the Capitol on Jan. 24, 2012. Enlarge image US President Barack Obama US President Barack Obama Joshua Roberts/Bloomberg US ...
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Bloomberg
Hepatitis C Pill Race Makes BioLineRx a Buyout Target: Israel Overnight
Bloomberg
“The hepatitis C viral infection space is an area that has been particularly hot recently.” The Bloomberg Israel-US 25 Index has gained 10 percent this year, outperforming the Nasdaq Composite Index's (CCMP) 7 percent advance and the Standard & Poor's ...
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Federal Open Market Committee Jan. 25 Statement: Full Text
San Francisco Chronicle
25 (Bloomberg) -- The following is a reformatted version of the full text of the statement released today by the Federal Reserve in Washington: Information received since the Federal Open Market Committee met in December suggests that the economy has ...
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Gross Counters Gundlach Pushing U.S. Bank Bonds DoubleLine Shuns as Risky
Bloomberg
Gross had more than 1.3 percent of Pimco Total Return in the bonds of Citigroup Inc. (C) as of Sept. 30. The New York bank represented about 0.2 percent of Gundlach's fund, according to regulatory filings and data compiled by Bloomberg.
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Bloomberg
Citigroup to Weigh More Cuts in Securities Unit If Revenue Doesn't Rebound
Bloomberg
... Investment Jin Lee/Bloomberg Citigroup Inc.may make more spending cuts at its securities unit after an investment of almost $1 billion in the business last year failed to boost revenue. Citigroup Inc. (C), the third-biggest US bank, will consider ...
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Bloomberg
Africa Crop Investors Urged to Be 'Wary' of Worsening Conflicts
Bloomberg
To contact the reporter on this story: Tony C. Dreibus in London at tdreibus@bloomberg.net To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net. Tweet More Business Exchange Buzz up! Digg Print Email.
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Toyota Raises Sales Forecast on Hybrids
Bloomberg
Enlarge image Toyota Raises Sales Forecast on Hybrid Toyota Raises Sales Forecast on Hybrid Kiyoshi Ota/Bloomberg People examine Toyota Motor Corp.'s Aqua hybrid vehicl. Toyota Motor Corp. (7203), Asia's biggest carmaker, raised its global sales ...
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Bloomberg
Corn Climbs for Fifth Day on Argentina's Crop; Soybeans Advance
Bloomberg
To contact the reporters on this story: Luzi Ann Javier in Singapore at ljavier@bloomberg.net and Tony C. Dreibus in London at tdreibus@bloomberg.net To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.
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Ghizzoni Rights Offer Gamble May Win Reprieve for UniCredit
BusinessWeek
25 (Bloomberg) -- UniCredit SpA Chief Executive Officer Federico Ghizzoni is buying time to rescue Italy's biggest bank as the country teeters on the brink of recession. The lender, which will complete a 7.5 billion-euro ($9.8 billion) rights offer Jan ...
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J&J's Weldon Says Drop in Medical Spending Near a Turnaround
San Francisco Chronicle
24 (Bloomberg) -- Johnson & Johnson Chief Executive Officer William C. Weldon said the decline in medical spending that started with the global financial crisis may be nearing a bottom, leading the company to forecast a sales gain for 2012.
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Citigroup Targets Banking Basics Amid 'Anger,' Pandit Says
Bloomberg
Enlarge image Citigroup Inc. Chief Executive Officer Vikram Pandit Citigroup Inc. Chief Executive Officer Vikram Pandit Munshi Ahmed/Bloomberg Citigroup Inc. Chief Executive Officer Vikram Pandit said, "Banks have to serve clients, not serve themselves ...
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Bloomberg
Canada's Currency Drops as Risk Aversion Clips Equities, Crude Oil Prices
Bloomberg
The loonie sank 0.5 percent over the past week, against nine developed-nation counterparts monitored by Bloomberg Correlation-Weighted Currency Indexes. The dollar dropped 0.4 percent, while the euro gained 0.5 percent. To contact the reporters on this ...
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Hepatitis C Pill Makes BioLineRx Buyout Target: Israel Overnight
BusinessWeek
25 (Bloomberg) -- BioLineRx Ltd. surged in New York trading, widening the premium versus its Tel Aviv shares to a record, on bets the biopharmaceutical company will be acquired following its licensing agreement for a hepatitis Ctreatment.
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General Dynamics Fourth-Quarter Profit Falls 17% on Charges for Jet Unit
Bloomberg
It missed the profit estimate of $1.99 a share, the average of 23 analysts surveyed by Bloomberg. Sales rose 6.3 percent to $9.15 billion. The company said the quarter's earnings were reduced by charges of $189 million at the company's ...
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Bloomberg
Medicines Co., Perrigo, Lauder, SOPA: Intellectual Property
BusinessWeek
24 (Bloomberg) -- Medicines Co. and Fresenius's APP Pharmaceuticals Inc. settled litigation over patents for the Angiomax anticoagulant drug, with Medicines agreeing to pay $30 million to license some APP drugs. MedicinesCo., based in Parsippany, ...
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RBS Report, U.K. Hedge Bonuses, EU Data Privacy, Austria Banks: Compliance
Bloomberg
A spokesman for Goodwin wasn't immediately available to comment when contacted by Bloomberg News. Liam Parker, an FSA spokesman, and Michael Strachan, an RBS spokesman, declined to comment. Compliance Policy Hedge Fund, Private Equity Bonus Rules ...
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Harper Builds Oil Links With China After Obama 'Slap' on Keystone Pipeline
Bloomberg
The industries make up about 47 percent of Canadian equities by market value, according to data compiled by Bloomberg. Alberta Premier Alison Redford reacted to Obama's announcement by saying the province will now focus on opening markets in the ...
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Bloomberg
Repsol Sinopec Finds Oil at Brazil's Deepest Well
Bloomberg
To contact the reporter on this story: Karen Eeuwens in London at keeuwens@bloomberg.net To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net Tweet More Business Exchange Buzz up! Digg Print Email.
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Exxon, Americas Petrogas See 'Phenomenal' Tight Gas Potential in Argentina
Bloomberg
To contact the reporter on this story: Laura Price in Buenos Aires at lprice3@bloomberg.net To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net Tweet More Business Exchange Buzz up! Digg Print Email.
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AGF Management Plunges 5% After Missing Profit Estimates: Toronto Mover
Bloomberg
... from C$30.9 million, or 34 cents, in the year-earlier period, the company said today in a statement. AGF was expected to earn 30 cents a share excluding items, according to the average estimate of eight analysts surveyed byBloomberg News.
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Canadian Natural Gas Gains on Speculation Supply Glut May Ease
Bloomberg
Alberta gas for February delivery rose 13.5 cents to C$2.4375 a gigajoule ($2.28 per million British thermal units) at noon New York time on NGX, a Canadian Internet market. NGX Alberta gas has slipped 20 percent this month. Gas traded on the exchange ...
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'Call of Duty' Answered by Canada Shoppers in November: Economy
San Francisco Chronicle
Sales rose 0.3 percent to C$38.7 billion ($38.3 billion), Statistics Canada said today in Ottawa, exceeding the 0.2 percent median estimate in a BloombergNews survey of 24 economists. Video games sales led a 2.9 percent gain at sporting goods, hobby, ...
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RBS-Highland, Commerzbank, J&J, Roche, GE, UBS in Court News
Bloomberg
To contact the reporter on this story: Elizabeth Amon in New York at eamon2@bloomberg.net To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net Tweet More Business Exchange Buzz up! Digg Print Email.
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No Deals Brewing for Beermakers After $195 Billion Buying Spree
Bloomberg
Enlarge image No Deals Brewing for Beermakers No Deals Brewing for Beermakers Simon Dawson/Bloomberg More than $21 billion changed hands for beer assets in 2011, topped by SABMiller's A$10.5 billion ($11 billion) takeover of Foster's Group Ltd. Global ...
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Bloomberg
Fed Says Key Interest Rate Will Stay Low Until Late 2014
BusinessWeek
25 (Bloomberg) -- Federal Reserve officials said their benchmark interest rate will stay low until at least late 2014 and anticipate that unemployment will remain high and inflation “subdued.” “The Committee expects to maintain a highly accommodative ...
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Achillion, BioLineRx, J&J Snack, Rubicon: U.S. Equity Movers
San Francisco Chronicle
24 (Bloomberg) -- Shares of the following companies had unusual moves in US trading. Stock symbols are in parentheses, and prices are as of 4 pm in New York. Achillion Pharmaceuticals Inc. (ACHN US) rose 17 percent to $10.75, the second biggest ...
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Obama Will Create Unit to Investigate Mortgage Misconduct After Protests
Bloomberg
Photo: Jewel Samad/AFP/Getty Images Enlarge image US President Barack Obama US President Barack Obama Joshua Roberts/Bloomberg US President Barack Obama. President Barack Obama said he will create a mortgage crisis unit that includes federal and state ...
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Bloomberg
Rio Gains Majority Stake in Ivanhoe After Poison Pill Scrapped
Bloomberg
To contact the reporters on this story: Jesse Riseborough in London at jriseborough@bloomberg.net; Christopher Donville in Vancouver at cjdonville@bloomberg.net To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net ...
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Consumer Bureau Mulling Rule Exemptions for Smaller Banks
Bloomberg
Photo: Joshua Roberts/Bloomberg The US Consumer Financial Protection Bureau may weigh size or market share in exempting community banks from its rules to shield them from the greater regulatory burdens facing their larger rivals.
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Bloomberg
Canadian Stocks Decline as Greece Debt Talks Reach Stalemate
BusinessWeek
Canadian National retreated 4.7 percent to C$75.86 after forecasting earnings of as much as C$5.32 a share, excluding certain items, in 2012. Analysts had estimated profit of C$5.39, according to the average estimate in a Bloombergsurvey.
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TSX down as Greek debt talks reach stalemate
Montreal Gazette
Investors were reacting to its 2012 forecasted earnings of $5.32 a share, below analysts' estimates of $5.39, according to the average estimate in aBloomberg survey. Meanwhile, the financials sub-index slipped 0.91 per cent after Greek debt ...
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Dow, Gevo, Google, EA, Louboutin, Dotcom: Intellectual Property
Bloomberg
To contact the reporter on this story: Victoria Slind-Flor in San Francisco at vslindflor@bloomberg.net. To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net. Tweet More Business Exchange Buzz up! Digg Print Email.
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Brazil's Ribeiro 'Not Worried' by US Orange Juice Tests
BusinessWeek
By Tony C. Dreibus Jan. 24 (Bloomberg) -- Brazilian Agriculture Minister Jorge Mendes Ribeiro Filho said he is “not worried” about US testing of orange juice imports for fungicide. The US Food and Drug Administration has detained juice imports to check ...
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Poloncarz gushes over Cuomo budget as local case is made
Buffalo News
New York City Mayor Michael R. Bloomberg, who has had his battles with Cuomo, was lavish in his praise of the governor's plan. And Buffalo Mayor Byron W. Brown checked through a number of items he hopes the lawmakers could change, ...
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Bristol-Myers Hepatitis C Pills Clear Virus Without ... - Bloomberg
Combining two experimental Bristol- Myers Squibb Co. pills cleared the hepatitis C virus in 36 percent of patients not helped by a standard treatment, in a small ...
www.bloomberg.com/.../bristol-myers-hepatitis-c-pills-clear-vi...
Apple to bolster iPad's educational content
Adam Satariano,Peter Burrows, Bloomberg News ... content in a digital format, similar to what Amazon.com does with its direct publishing tools, said the people.
www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/18/...
Montag Heralds 'New Game' for BofA Investment Banking After ...
Enlarge image Bank of America Co-Chief Operating Officer Thomas K. Montag... Jonathan Fickies/Bloomberg Bank of America Corp. co-chief operating officer ...
www.bloomberg.com/.../montag-vows-new-game-for-bofa-in...
Siemens to Pump $1.3 Billion Into Gas Turbines to Fend Off GE
Siemens AG has earmarked more than 1 billion euros ($1.3 billion) to expand production of gas- turbines and fend off General Electric Co. as they jostle for...
www.bloomberg.com/.../siemens-to-pump-1-3-billion-into-gas...
Kodak In Talks With Citi For Bankruptcy Financing ... - Nasdaq.com
NASDAQ news: Kodak In Talks With Citi For Bankruptcy Financing: Sources -Bloomberg News.
www.nasdaq.com/.../kodak-in-talks-with-citi-for-bankruptcy-f...
China Said to Consider Relaxing Capital Rules for Banks as ...
China's banking regulator is weighing a plan to relax capital requirements for lenders after the world's second-largest economy expanded at the slowest pace in ...
www.bloomberg.com/.../china-said-to-consider-relaxing-capit...
Citigroup Inc. : Tanzania Power Utility Seeks $257 Million Loan ...
DOW JONES NEWSWIRES Tanzania's state-run power utility Tanzania Electricity Supply Co. is in talks with a group of banks, including Citigroup Inc. 's ...
www.4-traders.com/.../CITIGROUP-INC-Tanzania-Power-Utili...
Kodak In Talks With Citi For Bankruptcy Financing: Sources ...
Kodak In Talks With Citi For Bankruptcy Financing: Sources - Bloomberg News.
www.morningstar.com/.../kodak-in-talks-with-citi-for-bankrup...
  
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