Business
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AP - Australia's Westfield Group Ltd. said Wednesday it has reached agreements with British government and Olympic agencies to start building a 1.5 billion pound ($3 billion) shopping mall in east London.
Read Westfield OKs London retail development (AP) (Links)
Microsoft seeks allies for new Yahoo move: report
(Reuters)
Reuters - Microsoft Corp is preparing a new bid for Yahoo Inc's search business and has approached other media companies about joining it in a deal that would effectively lead to Yahoo's breakup, the Wall Street Journal said.
Read Microsoft seeks allies for new Yahoo move: report (Reuters) (Links)
U.S. wins court order for UBS Swiss bank records
(Reuters)
Reuters - A federal judge in Miami has authorized U.S. officials to seek information from UBS AG about U.S. taxpayers suspected of using Swiss bank accounts to evade income taxes, part of a probe that could crack open Switzerland's tradition of bank secrecy.
Read U.S. wins court order for UBS Swiss bank records (Reuters) (Links)
Wall St slides on profit worries, oil's surge
(Reuters)
Reuters - Stocks slid to session lows on Tuesday, putting the Dow on the cusp of a bear market, as investors feared that fallout from record crude oil prices will hurt corporate profits and exacerbate the impact of mounting credit losses in the financial sector.
Read Wall St slides on profit worries, oil's surge (Reuters) (Links)
Court dismisses more claims in Grasso case: report
(Reuters)
Reuters - A New York court has dismissed more claims against former New York Stock Exchange chief Richard Grasso brought by state officials who want him to return part of his $187.5 million pay package, CNBC reported on Tuesday.
Read Court dismisses more claims in Grasso case: report (Reuters) (Links)
AP - A judge has ruled against Wal-Mart in a class-action lawsuit, saying the discount retailer violated state labor laws 2 million times by cutting worker break time and forcing employees to work off the clock.
Read Minn. judge rules against Wal-Mart on work breaks (AP) (Links)
Ford U.S. sales plunge 28 percent
(Reuters)
Reuters - Ford Motor Co said on Tuesday that U.S. sales fell 28 percent in June on an unadjusted basis, driven by steep declines in sales of trucks and SUVs.
Read Ford U.S. sales plunge 28 percent (Reuters) (Links)
Inflation flare-up mars factory rebound
(Reuters)
Reuters - U.S. factory output expanded in June for the first time in five months, but inflation pressures soared to their highest since the stagflation-ravaged 1970s, according to a report that highlighted the bind facing policy-makers.
Read Inflation flare-up mars factory rebound (Reuters) (Links)
Drug chains and benefits managers team on e-prescriptions
(Reuters)
Reuters - Chain drug stores including Walgreens and pharmacy benefits managers like Medco Health Solutions are combining their electronic networks to speed adoption of computerized prescriptions.
Read Drug chains and benefits managers team on e-prescriptions (Reuters) (Links)
AP - The Justice Department said it is seeking information from Swiss bank UBS AG about U.S. taxpayers who may have used offshore accounts to avoid paying federal income taxes.
Read Justice to seek more information from Swiss bank (AP) (Links)
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