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Fidelity Investments received permission from U.S. regulators to open its own actively managed exchange-traded funds.
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BOSTON, May 23- The average 401 retirement balance for U.S. workers hit a record high of $80,900 in the first quarter, a growth spurt of 75 percent since the stock market's nadir in March 2009, Fidelity Investments said on Thursday based on a survey of its accounts.
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BOSTON-- Eaton Vance Corp. said Wednesday its fiscal second-quarter net income jumped 20 percent, as an increase in its assets under management boosted investment and advisory fees. For the quarter ended April 30, the investment manager earned $63.7 million, or 50 cents per share, up from $52.9 million, or 44 cents per share, in the same quarter the year before.
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WASHINGTON/ BOSTON May 21- Several power utilities say they face a barrage of cyber attacks on their critical systems, a report by two Democratic lawmakers found echoing warnings from the Obama administration that foreign hackers were trying to bring down the U.S. power grid.
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WASHINGTON-- Brokerage firm LPL Financial will pay a $7.5 million fine to the Financial Industry Regulatory Authority and set aside $1.5 million to compensate clients for email system problems that kept it from retaining and retrieving millions of emails as required by law.
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*Bernanke to testify before Congress on Wednesday. The euro rose 0.2 percent to $1.2906, having reached a session peak of $1.2933 and moving away from a six-week low of $1.2795 touched on Friday, according to Reuters data. Focus now shifts to Fed Chairman Ben Bernanke's testimony to Congress at 10 a.m. 1400 GMT) on Wednesday.
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BOSTON, May 21- Several U.S. power utilities say they face constant cyber attacks on critical systems, according to a report by two Democratic lawmakers amid warnings from the Obama administration that foreign hackers are seeking to attack the electric grid.
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WESTPORT, Conn., May 20- Connecticut rail commuters endured crowded and rerouted rides in to work on Monday, as Metro-North worked to repair the busiest U.S. rail line after a two-train collision and derailment injured more than 70 people late last week.
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BOSTON-- The price of a gallon of gas in Massachusetts is up a penny. AAA Southern New England reports Monday that self-serve, regular crept up to $3.49 per gallon in the past week. AAA found self-serve, regular selling as low as $3.35 per gallon and as high as $3.69.
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WASHINGTON, May 20- In a case involving whistleblowers at Fidelity Investments, the U.S. Supreme Court on Monday agreed to consider whether mutual fund employees are subject to the same whistleblower protections as workers at publicly traded companies.
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HARTFORD, Conn.-- Traffic in southwest Connecticut could be a mess for as much as a week until service is restored to the commuter rail line affected by a derailment that injured scores of passengers, Gov. Dannel P. Malloy warned Sunday. "Tomorrow's commute will be extremely challenging," he said at a brief news conference in Hartford. "
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BOSTON, May 20- When the Patient Protection and Affordable Care Act, aka Obamacare, starts rolling out in October, it will overhaul how Americans get healthcare coverage.
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LOS ANGELES, May 20- In October 2004, then California Governor Arnold Schwarzenegger rolled up to a pioneering fueling station at Los Angeles International Airport in a hydrogen-powered metallic blue Hummer loaned to him by General Motors Corp..
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BOSTON-- Developers who are unsuccessful in their pursuit of casinos in the eastern or western regions of Massachusetts could compete in the newly opened southeastern region under a plan approved by the state's gaming commission on Thursday.
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NEW YORK, May 17- In the financial world, arbitrage is a trading strategy that earns profit by exploiting price differences between markets. "That's the way we look at it," says Prescher, who lives with his wife, Suzan Haskins, in an apartment with a view of Mount Imbabura. "
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BOSTON-- The headlines about exchange-traded funds suggest there are no limits to the growth of these low-cost, easily traded alternatives to mutual funds.
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BOSTON-- The administrator of a fund created to help victims of the Boston Marathon bombings has released final guidelines for distributing the money. Claimants can then meet with fund administrator Kenneth Feinberg before payments go out June 30. The fund has raised more than $30 million.
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WASHINGTON-- Congressional Republicans and Democrats on Wednesday challenged Attorney General Eric Holder over the Justice Department's handling of the investigation of national security leaks and its failure to talk to The Associated Press before issuing subpoenas for the news service's telephone records.
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BOSTON, May 15- Billionaire investor John Paulson bet more heavily on mortgage insurers during the first quarter, which suggests that his hedge fund expects the housing recovery to grow stronger in the months ahead.
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BOSTON, May 15- Several top stock-picking hedge funds bought about 30 million shares of PC maker Dell Inc in the first quarter, possibly increasing pressure on company founder Michael Dell to improve his bid to take the company private.
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BEACHWOOD, Ohio-- DDR Corp. is buying 30 of 44 U.S. shopping centers from a joint venture it has with private equity firm Blackstone Group LP in a deal worth $1.46 billion, saying it expects to make money by raising rents at the malls and redeveloping them. They include centers in Boston, Chicago, Washington and Minneapolis among others.