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  • 3rd week for mediated talks between FairPoint, unions Tuesday, 20 Jan 2015 | 12:07 PM ET

    PORTLAND, Maine— Negotiations between FairPoint and unions representing striking workers are in a third week. More than 1,700 FairPoint workers in Maine, New Hampshire and Vermont went on strike in October after the company began imposing terms of its "final offer." North Carolina- based FairPoint provides telephone and high-speed Internet service to...

  • PITTSBURGH— Ralph Martin, the chief executive of the company that publishes the Pittsburgh Tribune-Review, has resigned to become CEO of Civitas Media. Besides the Tribune-Review, the company publishes six other dailies and more than 20 weekly newspapers across western Pennsylvania. Martin said he considered making a change following the death July 4 of...

  • SAN FRANCISCO, Jan 20- With 1.35 billion users of its Internet social network, Facebook Inc would rank as the world's second-most populous nation if it were a country. While its users may populate only a virtual country, Facebook says it generates a lot of real economic activity- $227 billion worth of economic impact and 4.5 million jobs in 2014, according to a new...

  • BofA, Citi miss forecasts as trading struggles Thursday, 15 Jan 2015 | 3:17 PM ET

    Bank of America and Citigroup reported disappointing results Thursday, hit by lower trading revenues and more legal expenses. Like JPMorgan Chase, Citigroup and Bank of America saw drops in their fixed-income trading revenue as client trading activity slowed. Citi said revenue in that part of its business fell to $2 billion in the period, a drop of 16 percent...

  • Dollar General stands firm on store divestiture figure Thursday, 15 Jan 2015 | 9:25 AM ET

    GOODLETTSVILLE, Tenn.— Dollar General said Thursday that it still believes it should not have to divest more than 1,500 stores to complete a deal with Family Dollar. Matthews, North Carolina- based Family Dollar has rejected numerous approaches from Dollar General, the latest worth $9.1 billion in cash, in favor of an $8.5 billion cash-and-stock offer from...

  • Chiquita closing North Carolina headquarters after buyout Wednesday, 14 Jan 2015 | 1:56 PM ET

    CHARLOTTE, N.C.— Chiquita Brands International is closing its corporate headquarters in North Carolina after the banana producer's buyout. The announcement comes a week after Chiquita's completed buyout for about $680 million by Brazilian juice company Cutrale Group and investment firm Safra Group, headed by Brazilian billionaire Joseph Safra.

  • Chiquita closing North Carolina headquarters after buyout Wednesday, 14 Jan 2015 | 1:15 PM ET

    CHARLOTTE, N.C.— Chiquita Brands International will close its corporate headquarters in North Carolina after its buyout, the banana producer said Wednesday. Chiquita's Charlotte operations where about 300 employees work will shut down over the next year to eighteen months, interim Chief Executive Officer Brian Kocher said. The announcement comes a week...

  • ISS encourages Family Dollar and Dollar Tree deal Wednesday, 14 Jan 2015 | 12:24 PM ET

    MATTHEWS, N.C.— Family Dollar Stores Inc. said Wednesday that a proxy advisory firm recommends shareholders vote for a buyout offer from Dollar Tree Inc.. Family Dollar has rejected numerous approaches from Dollar General, the latest worth $9.1 billion in cash, in favor of an $8.5 billion cash-and-stock offer from Dollar Tree. Family Dollar, based in Matthews,...

  • CEDAR FALLS, Iowa— Wading into a states' rights dispute over Internet access, President Barack Obama on Wednesday called for the repeal of laws that prevent local communities from creating their own broadband networks. "Today high-speed broadband is not a luxury, it's a necessity," Obama said from a storage area at Cedar Falls Utilities, with shelves full of coiled...

  • Jan 9- Argos Therapeutics Inc said its experimental immunotherapy was unsuccessful in treating HIV-infected patients, raising doubts about its technology platform and sending its stock plunging as much as 31 percent on Friday. Piper Jaffray analyst Charles Duncan also saw some encouraging signs in the trial, which was fully funded by the National...

  • WASHINGTON, Jan 9- U.S. job growth likely remained brisk in December, setting the economy up for a stronger pace of expansion this year, even as the global economy shows signs of buckling. It would be the 11th consecutive month of job gains above 200,000, the longest such stretch since 1994, and reinforce views the economy's fundamentals are strong enough to...

  • Wall Street is also punishing the sector. "The producers have to be getting murdered," said Steven Boyd, senior managing director at Sun Coast Resources Inc., a Houston- based distributor of petroleum and alternative fuels. Blue Ridge Biofuels, a small biodiesel producer in Asheville, North Carolina, that makes its product from used restaurant cooking oil, says...

  • Jan 5- Cempra Inc moved a step closer to approval for its lead antibiotic, solithromycin, after an oral version of the potential blockbuster met the main goal in a late-stage trial. Shares of Cempra, among a clutch of smaller companies developing treatments to fight super-bugs, rose as much as 18 percent to $27.10 in early trading on Monday. WBB Securities' Steve...

  • Jan 5- Cempra Inc moved a step closer to approval of its lead antibiotic, solithromycin, after an oral version of the potential blockbuster met the main goal in a late-stage trial. Data showed solithromycin actually outperformed moxifloxacin by a slight margin, Cempra said on Sunday. North Carolina- based Cempra is also evaluating an intravenous formulation of...

  • NEW YORK, Dec 31- Ambac Assurance Corp sued Bank of America Corp to recoup hundreds of millions of dollars of losses from insuring roughly $1.68 billion of securities backed at least in part by risky mortgages from the bank's Countrywide Home Loans unit. "Countrywide's fraud is borne out by the transactions' dismal performance," said Ambac, which in September 2010...

  • In a lawsuit filed on Tuesday in Manhattan federal court, Alan Meyers claimed that CEO Lorenzo Delpani accused him of raising "ghost" safety problems at recently acquired laboratories, resulting in slower production. Meyers said many of the safety issues he complained about stemmed from Revlon's $660 million acquisition of Spanish beauty care company...

  • Ambac sues Bank of America over Countrywide mortgage bonds Wednesday, 31 Dec 2014 | 11:37 AM ET

    NEW YORK, Dec 31- Ambac Assurance Corp sued Bank of America Corp to recoup hundreds of millions of dollars of losses from insuring roughly $1.68 billion of securities backed at least in part by risky mortgages from the bank's Countrywide Home Loans unit. Bank of America, the second-largest U.S. bank, bought Countrywide in July 2008. The lawsuit shows how Charlotte,...

  • Dec 31- Shares of NephroGenex Inc shot up nearly nine-fold in premarket trading, a day after the drug developer said its lead drug was found to be safe in a cardiac safety study. Pyridorin aims to work by inhibiting the underlying cause of the disease, which affects about 6 million Americans, thereby slowing its progression, NephroGenex said.

  • WASHINGTON, Dec 23- The U.S. economy grew at a 5.0 percent clip in the third quarter, its quickest pace in 11 years and the strongest sign yet that growth has decisively shifted into higher gear. "Our economy is firing on most cylinders, whereas the global economy is essentially in dire need of a spark," said Ryan Sweet, a senior economist at Moody's Analytics in West...

  • Environmental groups say the practice of storing coal ash in holding ponds supported by permeable, earthen dikes leads both to contamination of surrounding groundwater and the risk of catastrophe when those dikes fail, as happened in Tennessee and at a site in North Carolina earlier this year. The EPA has said contaminants such as arsenic, mercury and cadmium...