Cia. Energetica de Minas Gerais, Brazil’s second-largest combined power generator and distributor, agreed to pay as much as 1.57 billion reais ($901.5 million) to triple its stake in electricity company Light SA.

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Cemig to Pay Up to 1.57 Billion Reais for Light Stake (Update1)

News Corp. said it isn’t likely to reach an agreement with Time Warner Cable and expects to pull Fox broadcasting from the cable system when their deal expires Dec. 31

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News Corp. Likely to Pull Fox From Time Warner, Carey Says

Pacific Investment Management Co., the world’s largest manager of bonds, filed with U.S. regulators to start a stock mutual fund that can also invest in bank loans, junk bonds and distressed securities.

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Pimco to Start Global Stock Fund as Firm Pushes Into Equities

General Motors Chairman and CEO Ed Whitacre is putting his stamp all over the company. It hasn’t been a month since the board fired CEO Fritz Henderson and already Whitacre has promoted a handful of executives and brought in three new hires. Today, he named John Montford and Robert Ferguson as his …

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Whitacre names two new GM lobbyists, builds his team

American International Group general counsel Anastasia Kelly, who resigned after a dispute over government-imposed pay limits, will reap about $3.8M in severance, said people familiar with the matter

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AIG Said to Pay Top Lawyer $3.8 Million in Severance

NEW YORK (Reuters) – American International Group Inc’s Anastasia Kelly will get about $2.8 million as she leaves the giant insurer, according to a source familiar with the matter.

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AIG’s Anastasia Kelly to get about $2.8 million in severance

Pfizer Inc. says the Food and Drug Administration is again extending its review of Prevnar 13, a children’s pneumococcal vaccine. The FDA’s decision was due Wednesday, but Pfizer says the agency has not completed its review. It did not say when the process…

Food and Drug Administration – Pfizer – Vaccine – United States – Health

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Pfizer says FDA is still reviewing Prevnar 13

The Fox broadcast network has rejected an offer from Time Warner Cable to submit to binding arbitration in a dispute over fees. Chase Carey, chief operating officer of Fox owner News Corp., says the issue needs to be settled at the bargaining table and not…

Time Warner Cable – Cable television – Fox Broadcasting Company – Television – Arts

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Fox rejects arbitration with Time Warner Cable

WASHINGTON (Reuters) – The Obama administration said on Wednesday it would provide GMAC Financial Services an additional $3.8 billion of government aid, and said it was raising the government’s stake in the company to 56 percent from 35 percent.

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Treasury to dole out $3.8 billion to GMAC, raise stake

ConAgra Foods Inc. says a competitor’s tea label is so similar to its Swiss Miss product labels that consumers are becoming confused. ConAgra filed a federal lawsuit against Dean Foods Co. last week after trying unsuccessfully to persuade Dean to change the…

Swiss Miss – Dean Foods – ConAgra Foods – United States – Business

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ConAgra says competitor’s label mimics Swiss Miss

Maui Land & Pineapple Co. says its auditors have found the company’s liabilities exceed its assets by more than $60 million, raising doubts about its ability to survive. The property developer, one of Maui’s biggest landowners, said in a report filed this…

Maui – Hawaii – Real estate development – United States – Business and Economy

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Audit: Maui Land & Pineapple’s future uncertain

Customers of a Paramus-based bank were proded for their account information by e-mail and text messages over the weekend in an unsuccessful phishing scam, according to an executive. Hudson City Savings Bank, a subsidiary of Hudson City Bancorp Inc., was…

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Scam targets Paramus-based bank customers

Jack Dorsey revolutionized online socializing by co-founding Twitter in 2006. Now he wants to transform the way people exchange money. Dorsey is leading a new startup called Square. Its first product resembles a cube: a tiny credit card terminal that plugs…

Jack Dorsey – Twitter – Credit card – Square – Business

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Twitter co-founder takes aim at mobile payments

GMAC, the home and auto lender that counts the U.S. taxpayer as its largest stakeholder, received $3.8 billion from the Treasury Department in a third government bailout

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GMAC Gets $3.8 Billion in Third Package of U.S. Aid

A former psychiatrist at the University of California at Santa Cruz has surrendered his medical license after admitting to an affair with a student he treated. The state’s medical board says 46-year-old Milton Huang gave up his right to practice effective…

University of California – Santa Cruz – Santa Cruz California – California – United States

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UC Santa Cruz psychiatrist surrenders license