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Ciena agreed to buy the optical networking and ethernet equipment businesses of bankrupt Nortel Networks for $769 million after trumping a bid from Nokia Siemens Networks. The deal, which ends a three-day auction, will vault Ciena to third place in the optical network equipment market, giving it a ...
New York Times · 8 hours ago
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NEW YORK (Reuters) - Playboy Enterprises Inc will outsource all its publishing operations except for editorial to American Media Inc in a bid to cut costs and return its namesake magazine to profitability in two years. The company said on Tuesday that Playboy magazine is forecast to lose $8 million ...
ABC News · 4 hours ago
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The modest recovery in home prices is beginning to falter, according to data released Tuesday. The Standard & Poors/Case-Shiller home price index, a closely watched measure of 20 metropolitan areas, barely rose in September, increasing 0.3 percent on a seasonally adjusted basis. Nine of the cities ...
New York Times · 2 hours ago
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Sales activity rises more than expected in October, by 10.1%, to 6.1 million annual units. NEW YORK (CNNMoney.com) -- Existing home sales surged in October to the highest level in more than 2-1/2 years, according to a real estate industry report issued Monday. The National Association of Realtors ...
CNN Money · 2 hours ago
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1 Large Number of Cribs to Be Recalled Tuesday » 2 Climate Skeptics See 'Smoking Gun' in Researchers' Leaked E-Mails » 3 800-Pound South Carolina Man Dies After Getting Stuck in Recliner for 8 Months » 4 Man 'Trapped in Coma' for 23 Years Was Awake Whole Time » 5 GlaxoSmithKline Recalls H1N1 ...
Fox News · 2 hours ago
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Las Vegas always wins the title for worst foreclosure rate in the country. But these 5 cities have the fastest-growing foreclosure rates. And they're not the usual suspects. After losing their homes, these 4 families thought they'd never recover. They've found it difficult to rent and their credit ...
CNN · 2 hours ago
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By Chris Isidore, CNNMoney.com senior writerLast Updated: November 24, 2009: 1:15 PM ET It turns out the day after Thanksgiving is a great day to shop for a car. Here a few deals that deserve special attention. NEW YORK (CNNMoney.com) -- The deal to sell Saab to Swedish firm Koenigsegg Group AB has ...
CNN · 1 hour ago
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Lloyds Banking Group, a troubled British lender, said Tuesday that it planned to raise £13.5 billion, in what would be the biggest rights issue in the country, to keep the government from taking a controlling stake. A London branch of the Lloyds TSB bank, part of Lloyds Banking Group, which ...
New York Times · 1 hour ago
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Hershey is smaller and brings less to the table than Kraft Foods in a potential takeover battle for Cadbury. But, Breakingviews argues, Hershey may have one distinct advantage over Kraft: a potentially irrational owner. The Milton Hershey School Trust, which controls Hershey, has exhibited a ...
New York Times · 8 hours ago
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Posted by: Justin Bachman on November 24 US Airways (LCC) has gained further financial breathing room, announcing a deal on Tuesday to defer 54 Airbus jets it had been scheduled to receive over the next three years. It will now take the planes in 2013 and later, saving the company $450 million by ...
BusinessWeek · 2 hours ago
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