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HL:Surprise! Businesses bankruptcies buck the recession trend@

May 19, 2009 7:51 am | by The Associated Press | News | Comments

OTTAWA — A new report says quick action by Canadian businesses in laying off excess workers during the current recession is helping them stay solvent.The CIBC notes that unlike past recessions, when business bankruptcies soared, so far this recession has seen no such corporate destruction.Instead,...

Prospect Capital shares fall after stock offering, APFN

May 19, 2009 7:51 am | by The Associated Press | News | Comments

NEW YORK (AP) — Shares of Prospect Capital Corp. fell Tuesday after the investment firm announced a public offering of 5 million shares of common stock to raise capital.Prospect Capital Corp. stock shed 78 cents, or 8 percent, to $9.12 in early afternoon trading.In a note to investors, Sterne, Agee...

German cargo ship released off Somali coast

May 19, 2009 7:51 am | by The Associated Press | News | Comments

BERLIN (AP) — Germany's Foreign Ministry says a German-owned cargo ship captured last month in pirate-infested waters between Somalia and Yemen has been released.A Foreign Ministry spokeswoman said the Maltese-flagged MV Patriot was released Friday and that no Germans were on board. She spoke...

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Methodology on Rating Commercial Paper Business Editors/Insurance Writers

May 19, 2009 7:46 am | by The Associated Press | News | Comments

OLDWICK, N.J.-- (BUSINESS WIRE) — May 19, 2009--A.M. Best Co. is requesting comments from market participants in the insurance industry and other interested parties on its proposed update to its commercial paper methodology. The draft document is currently available in the Best's Credit Rating...

Beazer to refund millions to NC borrowers, 2nd Ld-Writethru, US

May 19, 2009 7:46 am | by MARTHA WAGGONER - Associated Press Writer - Associated Press | News | Comments

RALEIGH, N.C. (AP) — Beazer Mortgage Corp., which ceased operations more than a year ago, will refund $2.5 million to more than a thousand borrowers in North Carolina as part of a settlement over claims the Atlanta-based company violated state lending laws, state banking and company officials said...

Okla. lawmakers devise way to fund rural projects, APFN

May 19, 2009 7:46 am | by RON JENKINS - Associated Press Writer - Associated Press | News | Comments

OKLAHOMA CITY (AP) — Oklahoma House and Senate budget leaders have agreed to a plan to raise the late fees on vehicle license plate renewals as a way to fund rural infrastructure projects.The agreement came after Democratic rural lawmakers were critical Monday of a $7.2 billion budget plan that...

Sector Snap: Online brokers upgraded, APFN

May 19, 2009 7:46 am | by The Associated Press | News | Comments

NEW YORK (AP) — An analyst on Tuesday upgraded four online brokerage firms amid expectations for expansion in the sector during the coming quarters.Shares of three of the four firms upgraded — Charles Schwab Corp., optionsXpress Holdings Inc. and TD Ameritrade Holding Corp. — rose in morning...

Wife sentenced to 11 years in poisoning case, KY

May 19, 2009 7:40 am | by The Associated Press | News | Comments

OLIVE HILL, Ky. (AP) — A former McDonald's employee who was having an affair with a co-worker has been sentenced to 11 years in prison for trying to poison her husband's chicken sandwich.The Independent of Ashland reports that Patricia Valandingham received the sentence Monday in Carter County...

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Groups push for tax hikes to balance Wis. budget, 2nd Ld-Writethru, WI

May 19, 2009 7:40 am | by SCOTT BAUER - Associated Press Writer - Associated Press | News | Comments

MADISON, Wis. (AP) — The call to consider higher taxes to solve Wisconsin's budget shortfall continues to grow.More than 60 advocacy groups held a news conference Tuesday to argue that cutting the state budget without raising taxes will devastate programs helping the poor, children, the elderly,...

Dubai to get own Bellagio and MGM Grand hotels, ML

May 19, 2009 7:39 am | by The Associated Press | News | Comments

DUBAI, United Arab Emirates (AP) — A Dubai developer says it plans to build Mideast outposts of two Las Vegas icons, the Bellagio and MGM Grand, even as the hotels' parent MGM Mirage struggles under a crippling debt load.Pearl Dubai said in a joint statement with MGM Mirage on Tuesday that it will...

Michigan 90-day foreclosure bills go to Governor, US

May 19, 2009 7:39 am | by The Associated Press | News | Comments

LANSING, Mich. (AP) — Legislation that would give Michigan homeowners facing foreclosure a 90-day window to stay in their house and potentially work out a resolution with their lender is headed to Gov. Jennifer Granholm.The state Senate unanimously approved the bills Tuesday. The House passed the...

New Web site lets citizens track Fla. spending, FL

May 19, 2009 7:39 am | by The Associated Press | News | Comments

TALLAHASSEE, Fla. (AP) — Citizens can now track Florida's spending on a new Web site called "Florida's Checkbook."Chief Financial Officer Alex Sink, a Democratic candidate for governor, Tuesday said the site is part of a push to increase government transparency and accountability.But she...

Michigan 90-day foreclosure bills go to Granholm, APFN

May 19, 2009 7:39 am | by The Associated Press | News | Comments

LANSING, Mich. (AP) — Legislation that would give Michigan homeowners facing foreclosure a 90-day window to stay in their house and potentially work out a resolution with their lender is headed to Gov. Jennifer Granholm.The state Senate unanimously approved the bills Tuesday. The House passed the...

Ind. plant settles with EPA over air emissions, IN

May 19, 2009 7:34 am | by The Associated Press | News | Comments

MONTPELIER, Ind. (AP) — Federal regulators have reached a settlement with a northern Indiana automotive parts plant accused of clean air violations.The U.S. Environmental Protection Agency says BRC Rubber and Plastics Inc. will pay about $18,000 in penalties and spend $82,000 to upgrade its auto...

Quest Diagnostics starts tender offer for notes, APFN

May 19, 2009 7:34 am | by The Associated Press | News | Comments

MADISON, N.J. (AP) — Medical lab operator Quest Diagnostics Inc. said Tuesday that it started a tender offer to buy up to $200 million of senior notes due in 2010 and 2011.Quest said there are $400 million of the 2010 notes outstanding and $275 million of the 2011 notes outstanding.Those who tender...

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