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The California Public Employees' Retirement System said it is pushing for governance changes at three companies it is invested in, chiefly focusing on executive compensation, supermajority and plurality voting requirements.
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International Paper Co. (IP) predicted Thursday its pretax earnings will increase by 38% over the next three years or so, as the company raised its cost reduction goal from the integration of recently acquired cardboard box marker Temple-Inland Inc.
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TOP STORIES: Argentina: Still Discussing Some GMO Corn Export Issues With China BEIJING -(Dow Jones)- Argentina government officials are still trying to resolve differences with China's Ministry of Agriculture over some strains of genetically modified corn that are impeding the passage of Argentine corn exports to China, Agriculture Minister Norberto Yauhar said Thursday.
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J.P.
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On Thursday, gold (NYSEARCA:GLD) futures for June delivery increased $9.10 to settle at $1,557.50 per ounce, while silver (NYSEARCA:SLV) futures gained 64 cents to close at $28.16.Both precious metals traded like true safe-havens, despite the U.S. dollar index climbing to as high as 82.36, its highest level all year.
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Canada's official international reserves fell $167 million in the week ended May 23, the Bank of Canada reported.
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The Federal Reserve Thursday released a set of detailed plans banks have put together to correct problems in their mortgage-servicing and foreclosure-processing operations.
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The president of the New York Federal Reserve Bank said Thursday that given his current forecast for the U.S. economy, there is an argument for further monetary easing, arguing that today's policy makers shouldn't rely solely on the Taylor rule formula to calculate rates.
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For some American money managers, food and beverage firms like Nestle SA (NSRGY, NESN.VX) and SABMiller PLC (SBMRY, SAB.LN, SAB.JO) look like a tasty way to tap growth in emerging markets.
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United Technologies Corp. (UTX) has hit the U.S. bond market with a six-part benchmark deal to help it finance its $16.5 billion takeover of Goodrich Corp. (GR).
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RG Steel said it will idle its steel mills and lay off most employees after creditors suspended funding of the cash-strapped company's day-to-day operations.
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Alfred C.
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Struggling Belgian-French lender Dexia SA (DEXB.BT) may get between $3 billion and $4 billion from the sale of its Turkish Denizbank AS (DENIZ.IS) unit to Russia's largest bank, OAO Sberbank (SBER.RS), if their exclusive talks end in a deal, a person familiar with the matter told Dow Jones Newswires on Thursday.
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Newmont Mining Corp. (NEM) has pushed back the start date of its $4.8 billion Minas Conga copper and gold project in Peru, the company said.
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United Technologies Corp. (UTX) has hit the U.S. bond market with a six-part benchmark deal to help it finance its $16.5 billion takeover of Goodrich Corp. (GR).
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RG Steel has warned employees of impending layoffs, the closely held steelmaker said in a statement Thursday.
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U.S. banks reported their highest quarterly profit since mid-2007 for the first quarter, while overall lending activity decreased for the first time in four quarters, a bank regulator said, a sign that while the industry continues to heal from the 2008 financial crisis, its willingness to lend continues to lag.
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Struggling Belgian-French lender Dexia SA (DEXB.BT) is in exclusive talks to sell its Turkish unit Denizbank AS (DENIZ.IS) to Russia's largest bank, OAO Sberbank (SBER.RS), a person familiar with the matter told Dow Jones Newswires on Thursday.
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Swedish lender Swedbank AB (SWED-A.SK) said Thursday it has decided to incorporate its mutual fund company Swedbank Robur under its support function unit to bring the mutual fund operations closer to the bank.
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The markets took a turn to the downside in cautious trade as a round of glum economic data from around the world weighed on traders' confidence.
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The blue chips managed to shed mid-day losses, ending modestly to the upside, but many traders remained on the sidelines with volume coming in below average.
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LIMA, Peru -(Dow Jones)- Peru's state-owned Petroleos del Peru (PETROBC1.VL), or Petroperu, has signed a contract with Societe Generale (SCGLY, GLE.FR) to provide financial structuring services for the modernization of the Talara refinery.
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Dow Chemical Co. (DOW) said it was awarded $2.16 billion for damages after Kuwait's Petrochemical Industries Co. dumped the chemical giant from a multibillion-dollar joint venture in 2008.
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A blockbuster initial public offering by one of China's biggest financial firms that should have been welcomed by Western banks grappling with a listing drought in Hong Kong is instead becoming a new challenge.
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Russian President Vladimir Putin said Thursday that independent oil companies should have the right to develop offshore resources as long as they don't sell those rights to foreign corporations, Interfax reported.
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Greece's central bank governor said Thursday that Greek lenders will receive a capital boost of EUR18 billion either Friday or Monday to cover losses stemming from the country's recent debt restructuring.
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India's state-run fuel retailers have no immediate plan to withdraw a record increase in the price of gasoline, the chairman of Indian Oil Corp. (530965.BY), the country's largest oil refining and marketing company by sales, said Thursday.
