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Sony chief says time needed to study proposal from US hedge fund, promises investors revival
TOKYO – Sony Corp. needs more time to study a key proposal from a U.S. hedge fund to spin off a part of its entertainment unit as a way to propel its fledgling revival, the chief executive told shareholders Thursday. Sony Chief Executive Kazuo Hirai was speaking to a Tokyo hall packed with thousands of
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US stocks slide, Treasury yields spike after Bernanke says Fed could slow bond purchases
NEW YORK, N.Y. – Financial markets in the U.S. shuddered after the Federal Reserve said it could start scaling back its huge economic stimulus program later this year and end it by the middle of next. The sharp reaction in markets, especially in the 10-year Treasury note, showed just how much investors have come to
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Sony chief says time needed to study proposal from US hedge fund, promises investors revival
TOKYO – Sony Corp.’s chief executive says time is needed to study a proposal from a U.S. major hedge fund to spin off a part of the company’s entertainment unit. Kazuo Hirai was speaking to investors packing a Tokyo hall at the Japanese electronics and entertainment company’s annual shareholders meeting Thursday. The question about a
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Most actively traded companies on the TSX, TSX Venture Exchange markets
TORONTO – Some of the most active companies traded Wednesday on the Toronto Stock Exchange and the TSX Venture Exchange: Toronto Stock Exchange (12,268.29 down 99.17 points): Bombardier Inc. (TSX:BBD.B). Plane and train maker. Up seven cents, or 1.54 per cent, at $4.63 on 8.97 million shares. Bombardier won an order from Nigerian carrier Arik
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Hudson’s Bay says it’s not just a retailer, it’s in the entertainment business
TORONTO – Hudson’s Bay Co. says the only way its business will continue to thrive is for it to move away from being seen as just a department store. “We believe we need to be in more than the business of selling commodity items,” chief executive Richard Baker said at the company’s annual general meeting
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US stocks sink and bond yields rise after Bernanke says Fed could slow its bond purchases
NEW YORK, N.Y. – Stocks are closing sharply lower and bond yields are rising after Fed Chairman Ben Bernanke said the central bank could slow its massive bond purchases this year. The Dow Jones industrial average dropped 206 points, or 1.4 per cent, to 15,112. It was the Dow’s seventh straight move of 100 points
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Bernanke declines to address his future at the Fed, says he wants focus to be on policy
WASHINGTON – Ben Bernanke declined Wednesday to address speculation that he will step down as chairman of the Federal Reserve in January when his term ends, saying he wanted to keep the attention on Fed policy. During a news conference after the Fed’s meeting, Bernanke was asked to respond to comments President Barack Obama made
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Fed sticks with bond purchases but offers slightly brighter outlook for the economy
WASHINGTON – The Federal Reserve says it will maintain the pace of its program to keep long-term interest rates at record lows, but offered a slightly more optimistic outlook for the U.S. economy and job market. The brighter outlook could be a hint that the Fed is moving closer to reducing its stimulus. But the
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Federal Reserve foresees lower US unemployment and inflation this year and next
WASHINGTON – The Federal Reserve expects the U.S. unemployment rate to fall faster this year and next than it did in March. The Fed now predicts unemployment will fall to 7.2 per cent or 7.3 per cent at the end of 2013 from 7.6 per cent now. It thinks the rate will be between 6.5
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Porsche, GMC top survey of vehicle quality; overall scores hit by glitches with tech features
DETROIT – Porsche is the top performer in an annual survey of new vehicle quality. J.D. Power questioned more than 83,000 U.S. car owners about problems with their 2013 vehicles in the first 90 days of ownership. In the results released Wednesday, Porsche, GMC, Lexus, Infiniti and Chevrolet owners reported the fewest problems. The worst