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Citigroup says 360,000 affected by hackers

June 15, 2011 10:50 pm | by The Associated Press | News | Comments

Hackers stole account information of more than 360,000 of Citigroup Inc.'s U.S. credit card customers in a recent data breach, the bank said Wednesday, almost double the number initially thought.Citi said last week that about 1 percent of its credit card customers had account information hacked...

IMB Reaches 100 Years of 'Think'

June 15, 2011 8:50 pm | by Jordan Robertson, Associated Press | News | Comments

Google, Apple and Facebook get all the attention. But the forgettable everyday tasks of technology — saving a file on your laptop, swiping your ATM card to get 40 bucks, scanning a gallon of milk at the checkout line — that's all IBM.

Australia buys 24 naval helicopters for $3.2B

June 15, 2011 6:50 pm | by The Associated Press | News | Comments

Australia will buy 24 MH-60R Seahawk "Romeo" naval combat helicopters at a cost of more than 3 billion Australian dollars ($3.2 billion).Defense Minister Stephen Smith said in a statement Thursday that the first two helicopters built by Sikorsky-Lockheed Martin will arrive in mid-2014 for...

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Honda headquarters is hot for delayed model launch

June 15, 2011 6:50 pm | by The Associated Press | News | Comments

Honda headquarters is sweltering, executives are without ties and reporters are fanning themselves in a scene illustrative of Japan's struggles to conserve electricity after the March 11 earthquake and tsunami sent a nuclear plant into meltdown.Honda Motor Co. was launching the Fit Shuttle...

Report: Renault-Nissan takes over Russian carmaker

June 15, 2011 5:50 pm | by The Associated Press | News | Comments

A news report says the Renault-Nissan alliance will take a controlling stake in Russia's biggest automaker, AvtoVAZ.Japan's top business daily, Nikkei, said Thursday that Nissan Motor Co. will invest up to $1 billion for a 25 percent stake in the Russian carmaker. Nissan's alliance partner...

Feds, state team up to investigate Calif explosion

June 15, 2011 5:50 pm | by The Associated Press | News | Comments

Federal, state and local prosecutors have formed a task force to investigate a deadly gas pipeline explosion in a San Francisco suburb, Pacific Gas & Electric Corp. revealed in a filing Monday.The utility said it was told last week about the task force's probe into the September blast that...

Evergreen Energy CEO to resign July 1

June 15, 2011 5:50 pm | by The Associated Press | News | Comments

Evergreen Energy Inc. said Wednesday that CEO Thomas H. Stoner Jr. will resign July 1, but remain on the company's board of directors.In a statement, Stoner said he believes it's time to step aside and for the company to build a management team with more relevant experience in the coal...

HP sues Oracle as tech big shots' animosity grows

June 15, 2011 4:50 pm | by JORDAN ROBERTSON - AP Technology Writer - Associated Press | News | Comments

Hewlett-Packard Co. has sued its friend-turned-foe Oracle Corp. in another sign of how badly the relationship between the information technology big shots has frayed.The lawsuit, filed Wednesday in Santa Clara County Superior Court, accuses Oracle of behaving illegally in deciding that future...

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CEO of chip maker Ikanos Communications resigns

June 15, 2011 3:50 pm | by The Associated Press | News | Comments

Ikanos Communications Inc., which makes chips for DSL modems, on Wednesday said its CEO has resigned and its chairman has taken over as interim CEO.John Quiqley, the resigning CEO, said he will be "pursuing interests more aligned to my passion for change management and enabling both individuals...

LightSquared gets extension for GPS test results

June 15, 2011 3:50 pm | by JOELLE TESSLER - AP Technology Writer - Associated Press | News | Comments

Federal regulators have granted a Virginia company called LightSquared a two-week extension to report on recent tests that aimed to determine whether its proposed high-speed wireless broadband network would cripple GPS systems around America.A technical working group created to study the extent...

GE unit gets $200 million Petrobras contract

June 15, 2011 3:50 pm | by The Associated Press | News | Comments

General Electric Co. said on Wednesday that its Wellstream unit has signed a contract that could be worth more than $200 million with Brazilian oil company Petrobras to perform flexible pipe and subsea equipment logistics.GE said it will start by building a $90 million base in Niteroi, near Rio de...

IHS reaffirms earnings predictions

June 15, 2011 2:50 pm | by The Associated Press | News | Comments

IHS Inc., a provider of risk analysis and industry forecasting services, on Wednesday reaffirmed its earnings and revenue outlook for the year.The Colorado-based company in early May forecast revenue of nearly $1.28 billion to $1.31 billion for the year that ends Nov. 30. It also expects...

Ford executive preps Wall Street for lower profits

June 15, 2011 2:50 pm | by TOM KRISHER - AP Auto Writer - Associated Press | News | Comments

A top Ford Motor Co. executive said Wednesday that the company's second-quarter pretax profit could fall below the first quarter because of rising raw material and factory production costs.Vice President and Controller Robert Shanks also said Ford expects pretax profit to be lower in the second...

Canadian finance minister urges US to cut deficit

June 15, 2011 2:50 pm | by JOSEPH PISANI - AP Business Writer - Associated Press | News | Comments

Canadian Finance Minister Jim Flaherty said on Wednesday that the U.S. should come up with a clear plan to reduce its deficit and balance its budget quickly in order to ensure the health of the Canadian and global economy."The United States is a major recipient of Canadian exports. Any...

As bank fees escalate, prepaid cards go mainstream

June 15, 2011 1:50 pm | by PALLAVI GOGOI - AP Business Writer - Associated Press | News | Comments

Rising fees have chased millions of people away from banks and into prepaid debit cards.In just a handful of years, prepaid cards have become the fastest growing payment method in the U.S. Just this week, American Express became the first mainstream financial company to offer a prepaid card.But the...

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