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SAN FRANCISCO VeriFone Systems Inc is set to pull back from the hot business of signing up small merchants to accept credit cards payments, reducing competition for start-up Square Inc and other companies that jumped into the space recently, according to two people familiar with the situation. VeriFone, a leading provider of card readers and payment processing services, unveiled SAIL in May, a service that lets small and individual merchants accept card payments through devices that plug into smart phones and other mobile devices. The move was a response to the success of Square, a start-up led by Jack Dorsey, [...]

SAN FRANCISCO VeriFone Systems Inc is set to pull back from the hot business of signing up small merchants to accept credit cards payments, reducing competition for start-up Square Inc and other companies that jumped into the space recently, according to two people familiar with the situation. VeriFone, a leading provider of card readers and payment processing services, unveiled SAIL in May, a service that lets small and individual merchants accept card payments through devices that plug into smart phones and other mobile devices. The move was a response to the success of Square, a start-up led by Jack Dorsey, [...]

Google’s navigation tool has returned to the iPhone, months after Apple’s home-grown mapping service flopped, prompting user complaints, the firing of an executive and a public apology from Apple’s CEO. The Google Maps app will be compatible with any iPhone or iPod Touch that runs iOS 5.1 or higher, the company said in a blog post. (http://link.reuters.com/jek64t) Apple launched its own service in early September, and dropped Google Maps, when it launched the iPhone 5 and rolled out iOS 6, an upgrade to its mobile software platform. Users complained that Apple’s new map service, based on Dutch navigation equipment and [...]

ATHENS Greece said on Wednesday it was seeking an additional 1.29 billion euros in funding from foreign lenders so it could accept all of the 31.9 billion euros of debt offered in a bond buyback scheme. The scheme, intended to put Greece’s mountainous debt on sustainable footing and unlock cash to avoid bankruptcy, had a maximum budget of 10 billion euros to buy back the bonds, which trade at a huge discount to face value. But Athens said it would need 11.29 billion euros in funding to be able to buy back all the bonds investors offered. It plans to [...]

The Obama administration has detailed spending cuts that have been public for the last year, a White House spokesman said Tuesday, disputing House Speaker John Boehner’s earlier remarks that the president had yet to outline spending cuts. Spokesman Jay Carney added that House Republicans so far have not been specific on their proposals to raise revenue as part of the deal. He refused to characterize the talks seeking a fiscal-cliff deal, saying that limiting comment was the best way to help the negotiators reach an agreement.

Dear Dave, Is it a good idea for a married couple in their early thirties, who have a lot of student loan debt, to cash out one of their 401(k)s to pay it off? -Marcy Dear Marcy, No way! You never cash out a 401(k) or IRA to pay off debt, unless it’s to avoid a foreclosure or bankruptcy. Let’s say you take $ 50,000 out of your 401(k). Do you know what happens next? They’re going to charge you a 10% penalty, plus your tax rate. If you make $ 75,000 a year, that puts you in a 25% [...]

Berlusconi listens during a debate at the Senate on December 13, 2010 in Rome, Italy.Italy’s prime minister Mario Monti is resigningAfter Mr Monti took seat last year, he pulled Italy back from a financial meltdownOn Saturday, Silvio Berlusconi announced that he will run as prime minister againMr Berlusconi was convicted for tax fraud in October(Financial Times) — Normal service is resuming. After a year of relative stability and regained market confidence, Italy is plunging back into political turmoil with the familiar sight of Silvio Berlusconi gearing up for yet another electoral campaign — his sixth in 19 years — against [...]

Cliff Ennico, Attorney, author, columnist Don’t worry, it happens to everybody. Every business will have clients that either just stop paying or slow down payments. In a recent webinar, Dealing with Deadbeats: Getting the Money You Are Owed Fast and Legally, Cliff Ennico provides tips for what to do when these situations arise. Ennico has 32 years of experience dealing with small businesses and is considered one of North America’s foremost small-business experts. Furthermore, he has authored ten books on entrepreneurship and small-business success. When a client stops paying or slows down payment, Ennico says try to stay cool and [...]

SAN FRANCISCO Shares of Demand Media Inc. rose more than 4% to $ 9 in early trades on Wednesday, bouncing back from a 6% drop in the previous session that was sparked by a downgrade from Goldman Sachs. In an early note Wednesday, Jordan Rohan of Stifel Nicolaus wrote that he believes Goldman’s “assertion is incorrect” that Demand Media is “arb-ing Google paid search to drive traffic/revenues.” He noted that paid traffic from search engine monetization, or SEM, “is roughly 1% of gross revenues and less than 1% of traffic.” He trimmed his price target on the shares to $ [...]

STOCKHOLM Loss making handset maker Nokia Corp. Tuesday said it has signed a deal to sell and lease back its headquarters in Espoo, Finland, in a bid to raise much needed cash. The building, which has been Nokia’s headquarters for the last 16 years, has been sold to Finnish property investor Exilion Capital Oy for 170 million euros ($ 220.4 million). The 48,000 square-meter (540,000 square feet) steel-and-glass building overlooks the Gulf of Finland and was completed in three phases, with the last part finished in 2001. Approximately 1,800 Nokia employees work there. Nokia is evaluating other parts of its [...]