Icahn changes tack, seeks $16B Dell stock buyback

NEW YORK — Activist investor Carl Icahn on Tuesday proposed a $16 billion share buyback in his latest effort to thwart Dell Inc. founder Michael Dell's effort to take the struggling computer maker private. Icahn, now the company's second-largest shareholder...

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Dolce and Gabbana convicted of tax evasion

MILAN — A Milan court has convicted the designers Domenico Dolce and Stefano Gabbana of tax evasion. The pair were found guilty Wednesday of failing to declare euros 1 billion ($1.3 billion) in income to authorities. The court sentenced them both to...

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Men's Wearhouse ousts founder, pitchman Zimmer

NEW YORK — Apparently, Men's Wearhouse Inc. doesn't like the way its founder looks anymore. In terse release issued Wednesday, Men's Wearhouse said it has fired the face of the company and its executive chairman, George Zimmer, who appeared in many...

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Stocks drift lower as investors wait for the Fed

NEW YORK  — Stocks are drifting lower on Wall Street as investors hold back ahead of a policy announcement from the Federal Reserve. The Dow Jones industrial average was down 10 points, or 0.1 percent, at 15,307 at midday Eastern Daylight Time...

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Bluebird Bio shares rocket higher in trading debut

NEW YORK — Shares of gene therapy developer Bluebird Bio Inc. are surging in their trading debut. Its shares climbed $9.15, or 53.8 percent, to $26.15 in morning trading Wednesday after trading as high as $27 earlier in the session. The company's initial...

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Grains futures mostly rise, livestock prices up

CHICAGO — Grains futures rose or were flat Tuesday in early trading on the Chicago Board of Trade. Wheat for July delivery rose 9.5 cents to $6.97 a bushel; July corn rose 5.75 cents to $6.79 a bushel; July oats were flat at $3.9775 a bushel; while...

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Obama warns EU over high youth unemployment

BERLIN — President Barack Obama raised the prospect Wednesday that Europe might need to adjust its economic policies to tackle high youth unemployment and make sure that some countries don't "lose a generation." Obama warned during his visit to Berlin...

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Banks fall short in helping struggling homeowners

WASHINGTON — A new report says homeowners trying to avoid foreclosure must wait too long for their loan modification applications to be reviewed by some of the nation's top mortgage servicers. Such delays can plunge borrowers deeper in debt. Joseph...

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Va. newspaper removes 'Democrat' from name

WARRENTON, Va. — A newspaper in Virginia is removing the word "Democrat" from its name because of the nation's increasingly divisive politics. In an editorial (http://bit.ly/102C4gg) published Wednesday, The Fauquier Times-Democrat announced it would...

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'Nightline' anchor Moran heading to London for ABC

NEW YORK — ABC News "Nightline" anchor Terry Moran is getting a new posting as the network's London-based chief foreign correspondent. Moran will head overseas late this summer, ABC said Wednesday. Moran was ABC's chief White House correspondent from...

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