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  • RIO DE JANEIRO/ PARIS, Aug 27- Brazil's Grupo Oi SA unveiled plans on Wednesday to take over Telecom Italia's local mobile unit, in a move sources said was aimed at breaking up the country's second-biggest wireless carrier and upstaging merger bids by foreign rivals.

  • Correction: Obit-Sperling story Tuesday, 26 Aug 2014 | 1:44 PM ET

    PHOENIX— In a story Aug. 25 about death of University of Phoenix founder John Sperling, The Associated Press reported erroneously the day that Sperling died. John Sperling, University of Phoenix founder, dies. John Sperling, founder of for-profit University of Phoenix, dies at 93 near San Francisco.

  • TORONTO, Aug 26- Burger King Worldwide Inc announced plans to buy Canadian coffee and doughnut chain Tim Hortons Inc for C $12.64 billion in a cash-and-stock deal that would create the world's third-largest fast-food restaurant group.

  • *Jindal Steel, Hindalco shares plunge after court decision. NEW DELHI, Aug 25- India's top court on Monday declared as illegal government allocations of coal blocks since 1993, jeopardising projects built around the blocks and threatening to exacerbate a shortage of the fuel.

  • Koch 101: Some basics on the billionaire brothers Monday, 25 Aug 2014 | 4:45 AM ET

    WASHINGTON— A primer on the Koch brothers and their role in politics. A: Charles and David Koch, ages 78 and 74, are billionaire brothers who helped create a broad network of nonprofit groups that control hundreds of millions of dollars flowing into politics.

  • John Sperling, University of Phoenix founder, dies Monday, 25 Aug 2014 | 1:40 AM ET

    Enchanted by the likes of Fyodor Dostoyevsky and F. Scott Fitzgerald, Sperling began a journey through higher education that ultimately led to his founding of the University of Phoenix, a for-profit institution.

  • Koch 101: Some basics on the billionaire brothers Saturday, 23 Aug 2014 | 9:25 AM ET

    WASHINGTON— A primer on the Koch brothers and their role in politics. A: Charles and David Koch, ages 78 and 74, are billionaire brothers who helped create a broad network of nonprofit groups that control hundreds of millions of dollars flowing into politics.

  • Correction: Oil Spill-Land Conservation story Friday, 22 Aug 2014 | 5:37 PM ET

    HOUSTON— In a story Aug. 21 about a new state park planned for southeast Texas, The Associated Press erroneously reported the amount of money from a BP and Transocean fund that was used to buy the land. Conservationists team up to buy Texas bayside ranch with $30 M from BP's 2010 oil spill fund.

  • But Bridget Fitzpatrick, a lawyer for the SEC, said the proposed award was appropriate given "egregious" violations that allowed the Wylys to accumulate "staggering wealth." The companies were Sterling Software Inc, Michaels Stores Inc, Sterling Commerce Inc and Scottish Annuity& Life Holdings Ltd, now Scottish Re Group Ltd..

  • The action, part of the Elliott's quest to recover around US $1.7 bn in claims from its decade-long dispute with the sovereign, will target financial institutions including Citigroup, HSBC and Standard Chartered, the source said.

  • *Berlin fears response from Putin if eastern rebels crushed. BERLIN/ KIEV, Aug 21- After months of ratcheting up pressure on Vladimir Putin, concern is mounting in Berlin and other European capitals that an emboldened Ukraine's military successes in the east are reducing the chances of a face-saving way out of the crisis for the Russian leader.

  • NY judge scolds Argentina, but no contempt order Thursday, 21 Aug 2014 | 11:58 AM ET

    NEW YORK— A federal judge in Manhattan on Thursday said Argentina's plans to evade his orders by failing to make required payments to U.S. bondholders is illegal and cannot be carried out, but he stopped short of finding the South American nation in contempt of court. District Judge Thomas Griesa called Argentina's actions toward U.S. bondholders "lawless."

  • Ecologists team up to buy Texas bayside ranch Thursday, 21 Aug 2014 | 7:02 AM ET

    HOUSTON— A sprawling private ranch in southeast Texas will be converted into a state park with the assistance of a fund created in the wake of the 2010 Deepwater Horizon oil spill, the Texas Parks and Wildlife Foundation announced Thursday.

  • Sears 2Q loss widens on sluggish sales Thursday, 21 Aug 2014 | 6:37 AM ET

    HOFFMAN ESTATES, Ill.— Sears Holdings Inc. recorded a hefty second-quarter loss Thursday on another sales slump, raising more concerns about the future of a company that once was a staple of American shopping. Sears, controlled by billionaire hedge fund investor Edward Lampert, lost $573 million, or $5.39 per share, for the period ended Aug. 2.

  • Sears posts loss for ninth straight quarter Thursday, 21 Aug 2014 | 6:22 AM ET

    Aug 21- Sears Holdings Corp, owner of Sears department stores and Kmart discount chain, reported its ninth straight quarterly loss as sales continued their decade-long fall. Loss attributable to shareholders widened to $573 million, or $5.39 per share, in the second quarter ended Aug. 2 from $194 million, or $1.83 per share, a year earlier.

  • Aug 21- Dollar General Corp questioned whether Family Dollar Stores Inc Chief Executive Howard Levine was being driven by self-interest in his support of a proposed takeover of his company by Dollar Tree Inc..

  • Last year Hertz adopted a so-called poison pill to prevent any one shareholder from gaining control of the company as activist investors began circling.

  • Icahn reveals stake in Hertz, plans to push management Wednesday, 20 Aug 2014 | 5:04 PM ET

    BOSTON, Aug 20- Billionaire investor Carl Icahn said on Wednesday that he owns an 8.5 percent stake in Hertz Global Holdings Inc and plans to pressure the rental car company's management over accounting issues and operational failures.

  • Reward offered for former billionaire's assets Wednesday, 20 Aug 2014 | 11:44 AM ET

    HELENA, Mont.— The trustee representing Yellowstone Club creditors offered a reward Wednesday to anyone who can help uncover property or bank accounts the luxury resort's co-founder might have hidden from bankruptcy proceedings.

  • UPDATE 1-Sears Canada reports loss, revenue slides 12 pct Wednesday, 20 Aug 2014 | 8:08 AM ET

    Aug 20- Struggling department store chain Sears Canada Inc reported its ninth loss in 14 quarters as sales continued to decline. Hedge fund billionaire Eddie Lampert and his Sears Holdings Corp said in May they were looking to sell their 51 percent stake in Sears Canada.