NEW JERSEY

Celera Stock Hits New High On Quest Diagnostics Merger

Celera, Quest Diagnostics Merger
Shares of Celera Corp. (NASDAQ: CRA) touched a new 52-week high of $8.42 on Friday, as it agreed to be acquired by Quest Diagnostics Inc. (NYSE: DGX) for $8 a share or about $344 million in cash, net of $327 million in acquired cash and short-term investments.
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File photo of New Jersey Governor-elect Christie greeting supporters before delivering his victory speech in Parsippany

New Jersey governor wants reform of teacher ratings

New Jersey Governor Chris Christie on Thursday recommended teachers be rated on the basis of student performance, adding to the debate over job evaluations as states look to layoffs to address budget gaps.
General Motors

U.S. judge to approve plan that pays GM creditors

A federal judge said on Thursday he would approve the bankruptcy plan for Old GM, wrapping up one of the most complex Chapter 11 cases in U.S. history and paving the way for a distribution of General Motors stock and warrants to creditors.
Army soldiers remove makeshift shelters and clear Tahrir Square in Cairo

Risk Aversion Has Been Well Contained

Despite the fact that volatility has increased since the start of the Egyptian crisis on January 25th, true risk aversion seems to have been well contained.
A man leans against a wall to read his newspaper before entering the subway in Grand Central Station in New York

Manhattan loses jobs as outer boroughs grow: study

Manhattan lost nearly 110,000 jobs from 2000 to 2009 while its outer boroughs were gaining jobs, thanks to the growth of two sectors, education and healthcare, a think tank's report said on Wednesday.
Anthony Hugs his Potential Knicks Teammate Stoudemire

Knicks Remain Suitors for Anthony

Despite the reported deal between Carmelo Anthony and the New Jersey Nets, the New York Knicks remain active in trade talks to acquire the Nuggets forward.
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Sony Stops One Hacker, But Others Appear

Sony Computer Entertainment America won a preliminary injunction against a hacker who publicized a method for allowing Playstation 3 consoles to install non-Sony operating systems. But others might still tinker with their machines.
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Amid crisis, US state workers say: 'Don't blame us'

When a New Jersey family with an autistic child walks into the state office seeking help, Norlande Perpignan is often the first person they see. A clerk making $41,082 a year at the Division of Developmental Disabilities, Perpignan, 40, is also on the front lines of a national debate about public spending, taxes and a fiscal crisis facing local governments.
Treasury Yields vs. S&P 500 stock prices

When interest rates rise so do stock prices

There are now increasing concerns that rising Treasury yields will begin to push stock prices lower and punish new entrants to the equity market. Our view is that there is still plenty of room for risk-free interest rates to rise without having a negative impact on the current equity rally.
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NY City to lay off teachers despite rising revenue

New York City will have to lay off more than 4,000 public school teachers even though its revenue has leaped about $2 billion since forecasts made last November, a mayoral aide said on Wednesday. New York City has around 75,000 teachers but the headcount must be reduced because Democratic Governor Andrew Cuomo wants to cut state aid by $2.1 billion, the aide said.
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NYC bank tax revenue shoots up 48 percent: source

New York City's bank tax collections ran 48 percent above a year-ago, one of several taxes whose encouraging performance might give Mayor Michael Bloomberg some extra cash to spend in next year's budget.

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