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Archive for July, 2012

LOS ANGELES Shares of Hitachi Ltd. rose in early Tuesday trading, a day after the Japanese tech and industrial conglomerate posted a more than doubling of its group net profit for the April-June quarter. Hitachi’s fiscal first-quarter profit hit 7 billion yen ($ 89.2 million), up sharply from year-earlier earnings of �2.9 billion, even as revenue fell 1.4% to �2.12 trillion. The company said a strong yen and Europe’s debt crisis weighed on the results. Shares of Hitachi traded 0.7% higher in early morning trade, outperforming a 0.4% loss for the Nikkei Stock Average , of which it is a component.

Attorney General Lori Swanson announced a legal settlement Monday that will bar a Chicago medical revenue company from doing business in Minnesota for six years after she accused Accretive Health Inc. of intrusive efforts to collect money from patients in several hospitals. The settlement requires Accretive to stop operations in Minnesota by November. Accretive will be banned for two years outright and another four years after that unless the attorney general approves. Accretive also will pay $ 2.5 million to set up a restitution fund for patients and return patient data to its client hospitals in the state, which include […]

Dear Insurance Adviser, My husband is between jobs. While he is unemployed, we have to pay the health insurance premium, which is pretty high at $ 1,300 per month for our family. Is this premium tax-deductible for us? — Needing a Break Dear Needing, I won’t respond to the question about the tax deductibility of health insurance premiums because that’s a better question for your tax accountant. I do have some suggestions that may help you ease the burden of that $ 1,300 monthly nut, however. I believe your insurance question concerns COBRA, a great federal program that guarantees people […]

A Google employee, at least five patent owners and plenty of iPhone and iPad consumers were among the potential jurors summoned to court on Monday in a high-stakes U.S. patent battle between Apple Inc and Samsung Electronics Co Ltd. U.S. District Judge Lucy Koh spent several hours examining jurors about their backgrounds and biases, as the companies began the trial after more than a year of pretrial jousting, with billions of dollars in the balance. That process was still ongoing Monday afternoon, and opening statements by the lawyers are expected to begin on Tuesday. Apple and Samsung, the world’s largest […]

The cost of nuclear power is “really hard to justify,” says the CEO of GE, a top atomic manufacturer.GE CEO: Nuclear power is so expensive compared with other forms of energy “It’s really a gas and wind world today,” Jeff Immelt told the Financial Times (Financial Times) — Nuclear power is so expensive compared with other forms of energy that it has become “really hard” to justify, according to the chief executive of General Electric, one of the world’s largest suppliers of atomic equipment.”It’s really a gas and wind world today,” said Jeff Immelt, referring to two sources of electricity […]

Click to watch videoEditor’s note: Outlook is CNNs in-depth look at business climates around the world. To August 12, 2012, we’re focusing on Singapore.Singapore – Kiat W. Tan, CEO of Gardens by the Bay, has built a “people’s garden” with solar powered “super trees” and vast glasshouses, all in the shadow of Singapore’s imposing Marina Bay Sands hotel.Tan tells Richard Quest why the only way to make the botanical garden a success in the city was to be big and bold. CNN’s Outlook series often carries sponsorship originating from the countries we feature. However CNN retains full editorial control over […]

You’ve likely known that credit scores are important since long before you got your first credit card. But when you’re just starting out in the world of credit, learning how to create a strong credit score can be tricky.Credit cards can offer the key to beginning your credit history on the right foot, but only if you use them smartly. The guidelines below can help you use your credit cards to begin establishing a great credit score from the start.Using credit cards to boost your credit scoreYou must begin using credit to establish your credit score, which for many means […]

ECB stirs hope ahead of summit

Comments from ECB President Mario Draghi have left some hopeful that the central bank will help more in the debt crisis.Deterioration in the Spanish outlook threatening to engulf ItalyComments from ECB president have left markets, some eurozone governments hopeful that central bank will provide more helpBut ECB president’s more aggressive stance has split governing council of top central bank officials(Financial Times) — With a deterioration in the Spanish outlook threatening to engulf Italy, the eurozone’s monetary guardians must set aside any thoughts of the summer break when they meet in Frankfurt this week.Comments from Mario Draghi, president of the European […]

A substantial percentage of consumers aren’t happy with their banks, but most find it too much of a hassle to switch.That’s the main finding from a new survey conducted by the Consumer Reports National Research Center. The center is affiliated with Consumers Union, an advocacy group and publisher of Consumer Reports magazine.The center found nearly 20 percent of checking-account holders had considered switching banks during the past 12 months. However, most failed to follow through, saying it is too much of a hassle to actually transfer their account to a new institution.Consumers unhappy about fees and bank ratesAccording to the […]

When it comes to retirement savings, many Americans seem to be “winging it” — or heading for retirement without a realistic plan of how to fund it.Or so suggests a recent survey by the Transamerica Center for Retirement Studies. The survey indicates that “retirement planning” is a very loose concept among Americans. In many cases, the approach could be better described as wishful thinking.The following are some points of concern raised by the study:1. Savings rates remain very low The median contribution level for workers in 401(k) or similar plans is 7 percent. This is up from 6 percent in […]

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