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Amazon cuts price of large-screen Kindle Fire

Amazon.com on Wednesday ramped up its challenge to Apple’s iPads by trimming the price of its large-screen Kindle Fire and making the tablets available in Japan and Europe. The online retailer cut $100 from the price of the Kindle Fire HD with 8.9-inch screens and connectivity to the latest-generation wireless…

Egypt plans big rise in price of gas to Israel

Egypt will substantially raise the price of its gas exports to Israel, which have stopped after militants blew up a Sinai desert pipeline, an Egyptian newspaper reported on Tuesday. Oil minister Abdullah Ghurab said there would be “a large increase in the price” after the revision which would be announced soon, the state-owned Al-Ahram…

U.S. Air Force hopes to use biofuels by 2012

WASHINGTON — The US Air Force is ready to switch to biofuels to help power its warplanes but the price of alternative fuels remains too high, military officials said Tuesday. Anxious to reduce its reliance on oil, the Air Force has approved the use of synthetic fuels for nearly all…

Senate bill would kill stock option tax break

WASHINGTON (Reuters) – A tax code loophole that gives corporations large deductions on executive stock options would be closed under legislation unveiled on Friday. As Congress and the White House struggled with budget issues, Democratic Senator Carl Levin offered the measure, calling it a promising revenue-raiser that would discontinue “a…

Netflix price hike draws user ire, investor glee

LOS ANGELES (Reuters) – Netflix Inc’s hefty price increase provoked an unprecedented outpouring of outrage on the Internet, but Wall Street cautiously welcomed the move, sending its shares up nearly 3 percent on Wednesday. Thousands of subscribers complained on Netflix’s official blog with many threatening to cancel subscriptions after the…

Wal-Mart hikes branded diabetes drug prices: study

SAN DIEGO (Reuters) – Big-box retailers Wal-Mart Stores and Kmart, pioneers in the push to cut consumer prices for generic drugs, have been raising prices for the most popular brand-name diabetes drugs, according to a new study. Wal-Mart, the world’s largest retailer began in 2006 to sell some generic drugs…

G20 ministers agree to tame food commodity speculation

PARIS (AFP) – Farm ministers from the world’s top economies agreed on action on Thursday to tame market speculation blamed for the food price spikes that have hit consumers’ pockets and sparked unrest. “The consensus… marks an historic union of resolve in combating the pressing challenges of hunger and food…

Food prices to be ‘high and volatile’ until 2020

PARIS — Food prices will be high and volatile for the next decade, driven by rising incomes in emerging nations and demand for biofuel, a joint OECD and FAO report forecast on Friday. Although prices will probably fall from high levels reached earlier this year, long-term price increases of up…

‘Perfect storm’ looms for world’s food supplies: Oxfam

PARIS (AFP) – Oxfam called on Tuesday for an overhaul of the world’s food system, warning that in a couple of decades, millions more people would be gripped by hunger due to population growth and climate-hit harvests. A “broken food system” means that the price of some staples will more…

Beck’s $5,697 Israel trip doesn’t include tickets to the main event

For only $5,697 you can go with Glenn Beck to Israel, but don’t expect to actually attend his rally for that price. The Fox News host announced Friday the first of two travel agencies that will be providing tours to his August 24 “Restoring Courage” rally at the Southern Wall…

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