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  • Best Buy hires new Web leaders Wednesday, 3 Oct 2012 | 3:36 PM ET

    NEW YORK-- Best Buy on Wednesday named an Expedia executive as head of its e-commerce operations. Scott Durchslag, 46, will be senior vice president of Best Buy and president online and global e-commerce, effective Monday. He will be responsible for all of Best Buy's global e-commerce channels, including BestBuy.com and mobile commerce.

  • Stocks edge up; HP sinks on Whitman's outlook Wednesday, 3 Oct 2012 | 3:33 PM ET

    The market's gains were held in check by a slump in energy stocks and Hewlett-Packard' s 11 percent drop. "The price action today seems boring, but the economic data is pretty strong," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

  • NC home insurance companies request rate increase Wednesday, 3 Oct 2012 | 3:21 PM ET

    RALEIGH, N.C.-- Insurance companies want to increase North Carolina homeowner's policies by an average of nearly 18 percent next year. Insurance Commissioner Wayne Goodwin said Wednesday that consumers have until Oct. 19 to offer their views on the request by the North Carolina Rate Bureau, which represents insurance companies.

  • Louis V, Miu Miu and Elie Saab give grand finale Wednesday, 3 Oct 2012 | 3:20 PM ET

    The Louis Vuitton showman thus capped an incredibly strong Paris fashion week _ with help from artist Daniel Buren _ by building a life-size shopping mall inside the Louvre. Understatement is not a word in Jacobs' vocabulary, so a collaboration with the minimalist artist _ who made the famed striped columns in Paris' Palais Royal _ might have raised eyebrows.

  • Biolase gets US, EU approval for new dental laser Wednesday, 3 Oct 2012 | 3:19 PM ET

    NEW YORK-- Shares of Biolase Inc. soared Wednesday after the maker of medical lasers said that U.S. and European Union regulators have approved its newest dental laser.

  • *Garth Brooks to end 3-year run in Las Vegas Wednesday, 3 Oct 2012 | 3:19 PM ET
  • News Summary: Capital gains tax hike looms Wednesday, 3 Oct 2012 | 3:18 PM ET

    READY, SET, HIKE: The top tax rate on long-term capital gains rises from 15 percent to 20 percent on Jan. 1 unless Congress acts. High-income earners face an additional new 3.8 percent Medicare tax on investment income. DON'T PANIC: Consider accelerating a sale of a stock, property or business with substantial capital gains that you already were planning.

  • News Summary: Bristol-Myers, Sanofi alter alliance Wednesday, 3 Oct 2012 | 3:18 PM ET

    NEW DEAL: Bristol-Myers Squibb and France's Sanofi are revamping their longtime partnership marketing some of their best-selling medications, blood thinner Plavix and blood pressure drugs Avapro and Avalide. THE TERMS: Bristol-Myers will keep selling Plavix in the U.S. through December 2019.

  • FDA says Teva antidepressant is ineffective Wednesday, 3 Oct 2012 | 3:17 PM ET

    The Food and Drug Administration said Wednesday it asked Teva to withdraw Budeprion XL 300 after new testing showed the drug releases its key ingredient faster than the original drug Wellbutrin XL 300, made by GlaxoSmithKline. The action contradicts the FDA's previous update on the issue in 2008, when regulators said the drugs are essentially the same.

  • Historical changes in the capital gains tax rate Wednesday, 3 Oct 2012 | 3:14 PM ET

    Select changes in the top statutory tax rate on long-term capital gains in recent decades:. x- unless Congress alters a pending increase. Sources: Citizens for Tax Justice, Tax Policy Center.

  • Unemployment rates for Northeastern US cities Wednesday, 3 Oct 2012 | 3:13 PM ET
  • 5 tips for dealing with looming cap gains tax hike Wednesday, 3 Oct 2012 | 3:09 PM ET

    Less than three months remain until the maximum rate of 15 percent on long-term gains rises to 20 percent unless Congress extends the Bush-era tax cuts. On top of that, the health care reform package imposes a new 3.8 percent Medicare tax on the investment income of high-income earners.

  • Oil drops 4 pct on signs of slower growth in China Wednesday, 3 Oct 2012 | 3:08 PM ET

    Oil fell the most in five months on Wednesday as China's slowing economy raised questions about the strength of global oil demand. Benchmark oil fell $3.75, or 4.1 percent, to $88.14 per barrel Wednesday in New York.

  • MaineHousing board members discuss future Wednesday, 3 Oct 2012 | 3:00 PM ET

    AUGUSTA, Maine-- Maine Housing Authority board members say they'll continue scrutinizing the housing agency's operations and finances following a federal audit that found it failed to provide adequate oversight for its Section 8 program.

  • UConn not planning to name center for Calhoun Wednesday, 3 Oct 2012 | 2:53 PM ET

    HARTFORD, Conn.-- Connecticut's athletic director says the university is looking for a sponsor to step forward and secure the naming rights for its planned basketball training center and has no plans to name the building after newly retired basketball coach Jim Calhoun.

  • Wide-eyed Chipotle worker, Romney photo goes viral Wednesday, 3 Oct 2012 | 2:51 PM ET

    DENVER-- The manager of a Denver Chipotle restaurant has become an Internet celebrity thanks to the wide-eyed pose he struck alongside Mitt Romney when the Republican presidential candidate stopped by for lunch. Marty Arps, 20, posed for a group photo with Romney and Chipotle Mexican Grill Inc. employees Tuesday afternoon.

  • Antares Pharma aims to raise $47M from stock sale Wednesday, 3 Oct 2012 | 2:46 PM ET

    EWING, N.J.-- Antares Pharma Inc. said Wednesday that it plans to sell 12.5 million shares of its stock for $4 per share, raising about $47 million after expenses. Shares of Antares fell 37 cents, or 8.4 percent, to $4.03 in afternoon trading Wednesday. It has traded between $1.51 and $5.58 in the last 12 months.

  • Bakers shoe store chain files for Chapter 11 Wednesday, 3 Oct 2012 | 2:45 PM ET

    ST. LOUIS-- Bakers Footwear Group on Wednesday filed for Chapter 11 bankruptcy protection citing weak sales and mounting losses. Bakers filed in the Eastern District of Missouri. It plans to continue an existing plan to reorganize the company by selling up to 52 leases to Aldo U.S. Inc., closing other stores and selling off merchandise from closed stores.

  • News Summary: States weigh tax policy on drilling Wednesday, 3 Oct 2012 | 2:40 PM ET

    SLIPPERY SLOPE: Lawmakers and policymakers are weighing how to use taxes and fees on oil and gas production to bolster state budgets and economies without alienating local communities or scaring away energy development.

  • Clinton to Iran: Economic woes are your fault Wednesday, 3 Oct 2012 | 2:33 PM ET

    Clinton says Tehran is responsible for the country's economic problems and Iran's currency hitting a record low against the U.S. dollar. Speaking Wednesday beside Kazakhstan's foreign minister, Clinton acknowledged that international sanctions have contributed to Iran's economic woes.

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