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U.S. police search for thieves in Rembrandt heist

Police were on the lookout Monday for two people suspected in the theft of a Rembrandt drawing from a luxury hotel in the California beachfront resort of Marina del Rey, Los Angeles police said. “The Judgment,” a pen and ink drawing with an estimated value of $250,000, was on display…

Hollywood film giant links with China distributor

Relativity Media, the production company behind “The Social Network”, has teamed up with two Chinese firms in a $100 million deal that gives it access to China’s rapidly expanding film market. Relativity will co-produce and distribute “cross cultural” films and television programmes with China’s Huaxia Film Distribution and SkyLand Film-Television…

Warren Buffett calls for higher taxes on wealthy Americans

Warren Buffett wants to pay more taxes. In an op-ed in the New York Times Monday, the Oracle of Omaha calls on Congress to ask him and other “super-rich” Americans to contribute more to the federal government. Buffett called for the immediate increase in the tax rate for those making more…

‘Sugar Babies’: Internet ‘dating’ for money

WASHINGTON — Pretty young women and older men of means — ‘sugar babies’ and ‘sugar daddies’ — are pairing up thanks to a US website that openly offers companionship for money, but balks at the word prostitution. SeekingArrangement.com (SA) — which bills itself as the “premier Sugar Daddy dating site”…

Google to buy Motorola Mobility for $12.5 billion

BANGALORE (Reuters) – Google Inc said it will buy Motorola Mobility Holdings Inc for about $12.5 billion in cash. The $40 a share offer is at a 63 percent premium to Motorola Mobility’s Friday close on the New York Stock Exchange. (Reporting by Sayantani Ghosh in Bangalore; Editing by Saumyadeb…

Securities and Exchange Commission to check S&P’s math on downgrade

The US Securities and Exchange Commission has launched a probe into the process by which Standard & Poor’s downgraded the US credit rating, the Wall Street Journal reported. US officials lashed out at S&P after it docked the country’s credit rating from AAA to AA+, accusing the agency of committing…

Apple ‘sued for price fixing’

Five book publishers and computer manufacturer Apple have been sued for allegedly colluding to drive up the price of e-books, lawyers for the plaintiffs said. The class-action suit, filed in the US District Court here, claims HarperCollins, Hachette, Macmillan, Penguin and Simon & Schuster had worked with Apple to break…

Apple, publishers ‘sued for price fixing’

Five book publishers and computer manufacturer Apple have been sued for allegedly colluding to drive up the price of e-books, lawyers for the plaintiffs said. The class-action suit, filed in the US District Court here, claims HarperCollins, Hachette, Macmillan, Penguin and Simon & Schuster had worked with Apple to break…

Retail sales gain while consumer confidence plunges

WASHINGTON/NEW YORK (Reuters) – U.S. consumer sentiment worsened sharply in early August, falling to the lowest level in more than three decades, after retail sales posted the biggest gain in four months in July. High unemployment, stagnant wages, gridlock in Congress, and a stock market slump all contributed to a…

U.S. consumer confidence hits three-decade low

WASHINGTON — US consumer confidence plunged to the lowest level in more than three decades in early August, according to data published Friday by Reuters and the University of Michigan. Their index of consumer sentiment tumbled to 54.9, its lowest reading since May 1980, when the index sank to 51.7.…

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