UNITED STATES

Coach Store

Chinese Tourists on Global Luxury Spending Spree Driving Revenue at U.S. Retailers

In what appears to be a rapidly developing trend, Chinese visitors to the United States are being noticed more for the flash of their newly-bought designer bags than that of their Nikons. Tiffany & Co. (NYSE:TIF), Coach, Inc. (NYSE:COH) and Ralph Lauren (NYSE:RL) are just a few of the companies in the luxury retail sector that have recently noted how higher revenue at their North American operations has largely been boosted by Chinese shoppers on vacation.

Former Madoff trader to plead guilty next week

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A former trader at Bernard Madoff Investment Securities is expected to plead guilty next week to defrauding Madoff's customers by helping falsify records and fake trades starting in the early 1970s, federal prosecutors said in a letter Wednesday.
South African rand note

S.Africa's rand recovers ground, bonds softer

South Africa's rand nudged higher against the dollar in late Johannesburg trade on Thursday as risk appetite received a boost from favourable U.S. data but further weakness still lurks while euro zone debt worries remain, traders said.
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Auto sales rate may be 14 million by mid-2012: study

U.S. auto sales may have their strongest month of 2011 in November, spurred by consumers' growing need to replace aging cars and trucks and a wider selection on dealer lots, according to a study released on Thursday.
Google launches music service

Google launches music service

Google Inc has turned on the music at its new online store, aiming to wrest the lead from Apple Inc and Amazon.com Inc in audio entertainment distribution despite the absence of a major record label.
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GameStop upbeat on holiday sales

GameStop Corp said holiday sales were off to a strong start, easing concerns that recent data showing a slowdown in the industry would hurt the video game retailer.
Canada's banks may still be best TSX bet for 2012

TSX falls as euro zone fears hit gold price

Toronto's main stock index was lower on Thursday morning, but well off its 1 percent fall shortly after the open, as gold-mining shares fell along with bullion prices after weak European bond sales sparked fears of a worsening euro-zone debt crisis.
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Jobs, housing data bolster growth outlook

New U.S. claims for jobless benefits hit a seven-month low last week and permits for future home construction rebounded strongly in October, the latest data to suggest the economy was gaining traction.
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Delphi Automotive shares fall on market debut

Delphi Automotive Plc's shares fell on debut, a day after the former General Motors auto parts unit priced its initial public offering at the low end of its estimated price range.
Healthcare educator Rainelle White (rear) checks the weight of client Norma Ferguson in the Family Van in Boston

Super Committee Should Not Be Bamboozled By Sham Medical Claims

The drum beat to limit medical care for the elderly grows louder. President Barack Obama's health law reduces future funding for Medicare by over $500 billion in the next decade and shifts most of those resources to fund a vast expansion of Medicaid. It's like robbing grandma to spread the wealth. To bamboozle the public, advocates for limiting health care spending on the elderly are distorting science to make their case.
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Delphi IPO prices at low end of range

Delphi Automotive Plc raised $530 million in its initial public offering -- in a deal that values the company much less than it had hoped for when IPO plans were first being formed.
AngloGold Ashanti mine in Ghana

Gold Prices Fall to One-Week Low on Eurozone Fears

Gold fell to a one week low on Thursday as fears that the euro zone debt crisis could spread from peripheral to core economies kept investors nervous and prompted some to liquidate profitable positions to cover losses in other asset classes.

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