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Penney CEO calls Martha Stewart deal a centerpiece

J.C. Penney Co Inc bought a 16.6 percent stake in Martha Stewart Living Omnimedia Inc and will build mini-stores under that brand in a deal new Chief Executive Officer Ron Johnson called a key centerpiece in the company's transformation.
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Europe's Markets

Europe's Markets Close Mostly Lower Tuesday on S&P Warning

European equities finished weaker in a choppy, thinly-traded session on Tuesday, led lower by retail shares after the world's No.4 retailer Metro issued a profit warning saying the Eurozone debt crisis was undermining consumer confidence.
Europe's Markets

Europe's Markets Firm Tuesday at Mid-Day Despite S&P Warning

European shares were flat on Tuesday at mid-day as strategists said they were optimistic policymakers would make progress on a solution for the region's debt crisis, though Standard & Poor's warned it might downgrade top-rated Germany and other Eurozone countries.
Jim O'Neill

India Most Disappointing in BRIC: Goldman Sachs Chairman

The growth rates of all four BRIC (Brazil, Russia, India and China) economies have surpassed expectations in the decade since the term came into existence. However, India's record in terms of productivity, Foreign Direct Investment (FDI) and reform has been the most disappointing, according to Jim O'Neil, the Chairman of Goldman Sachs Asset Management, on Tuesday.

What is Driving Construction Spending?

Total construction spending has contributed to real Gross Domestic Product (GDP) over the past two quarters and is expected to add to economic growth through 2013.
A man exits the office complex where MF Global Holdings Ltd have an office on 52nd Street in midtown Manhattan New York

MF Global Workers Sue Corzine, Other Execs

Past and present MF Global employees sued ex-CEO Jon Corzine and other executives over alleged misrepresentations they say destroyed the value of the company's stock.
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Fed Must Act Now to Boost Economy, Evans Says

The Federal Reserve must take immediate action to inject new life into a moribund U.S. recovery or risk letting the nation settle into a permanently lower growth path, a top Fed official said on Monday.
HSBC

HSBC Faces Record Fine for ill-advising the Elderly

Europe's largest bank is facing a record fine of 10.5 million pounds ($16.4 million) for inappropriately advising over 2,000 elderly customers about bond investment between 2005 and 2010.The bank is also likely to pay another 29.3 million pounds in compensation to victims, according to Reuters.
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UK Stores See 'Appy' Christmas in the Gloom

Mobile phone applications that allow online shopping on the move could give battered British retailers something to cheer about in what is otherwise set to be one of the toughest Christmas trading periods for years.

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