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Senators Mark Warner (D-Virginia) and Saxby Chambliss (R-Georgia) emphasized the urgency of addressing the US deficit, citing it as a top priority that requires bipartisan cooperation. The senators introduced legislation based on the deficit commission report, which includes spending cuts and tax reform, despite having concerns about certain aspects of
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Eastman Kodak Co. saw its shares fall by as much as 8.6 percent in late trading on Monday after a U.S. trade agency ruled that Apple's iPhone and Research In Motion's (RIM) BlackBerry device do not infringe on Kodak's patent for a
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Sony Corp. and the major record labels are embarking on a bold new strategy to challenge Apple Inc.'s dominance in the music industry. After years of allowing startups to license their artists, the industry leaders are launching their own music streaming service, "Music Unlimited powered by Qriocity,
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Verizon Communications Inc. has asked a court to overturn the Federal Communications Commission's (FCC) new net-neutrality rules, which would bar internet service providers from blocking or slowing web content. The company claims the agency lacks authority over how companies provide web service, and that the rules go beyond
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Coca-Cola CEO Muhtar Kent joined a small group of US business executives in meeting with Chinese President Hu Jintao in November 2010, as part of a three-year investment plan to spend $2 billion in China. Kent emphasized the need for improved conditions for investment and trade between the US and
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General Motors' unveiling of new cars this week, designed to surpass rivals, may not be enough to boost market share this year, according to analysts from Credit Suisse Group, JPMorgan Chase, and Morgan Stanley. The company's lineup is deemed older and inferior to competitors, including Ford. GM
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As the world becomes increasingly connected, mobile devices have become an integral part of our daily lives. Warren East, CEO of ARM Holdings, joins Bloomberg's Emily Chang to discuss the future of mobile and computing, highlighting the company's role in powering the vast majority of mobile
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Technology companies that fueled over $100 billion in US acquisitions last year are likely to spend more in 2011 as they race to harness surging demand for cloud computing and security services. Intel, Hewlett-Packard, and IBM led purchases of over 2,700 companies, and their cash piles accumulated during the
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In a live interview with Bloomberg News, Vivek Ranadive, Founder and Chief Executive of TIBCO, emphasizes the importance of operating in real-time to stay competitive in the business world. He explains that traditional databases often provide information after the fact, making it difficult for businesses to respond to changing circumstances.
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Facebook Inc. has become the most visited website in the United States, with 8.9% of all US website visits between January and November 2010, according to Experian Hitwise. This milestone highlights the growth of social networking over search engines and Internet portals. Facebook's popularity has led to
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Facebook's massive user base continues to grow, with more than 40% of users logging on daily, according to Lou Kerner's survey. This growth is driven by an increase in daily usage among existing users, with those who log on daily spending more time on the platform.
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The value of Chrysler Financial Corp. has skyrocketed, reaching at least 33% more than its value when the U.S. Treasury Department sold its holding to Cerberus Capital Management LP seven months ago. The Treasury's decision to sell its stake in the lender, which valued Chrysler Financial at
