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Mark Brooks

TheAssocPress

Recent Articles by Mark Brooks

Jan 29, 2013 by Mark Brooks

Oil Jumps on Home Price Data; Gasoline Up to $3.36

Benchmark oil for March delivery rose $1, or 1 percent, to $97.44 a barrel around midday on the New York Mercantile Exchange.

Jan 29, 2013 by Mark Brooks

Hostess Set to Announce Bidder for Twinkies

Hostess Brands is close to announcing that it has picked two investment firms -- C. Dean Metropoulos & Co. and Apollo Global Management -- as the lead bidders for its Twinkies and other snack cakes, according to a source close to the situation.

Jan 29, 2013 by Mark Brooks

Bernanke Keeping Foot on Stimulus Pedal

Ben Bernanke's term as chairman of the Federal Reserve expires one year from Thursday.

Jan 29, 2013 by Mark Brooks

Russia Likely to Contribute to Cyprus Bailout

Vassos Shiarly says leaders from the other 16 EU countries that use the euro are in "high level" talks with Moscow about a contribution to the bailout.

Jan 29, 2013 by Mark Brooks

Israel Central Bank Chief to Step Down in June

The Bank of Israel said Tuesday that Stanley Fischer told Prime Minister Benjamin Netanyahu that he would step down on June 30. It gave no reason for his departure, which comes two years before his term is set to end.

Jan 28, 2013 by Mark Brooks

Hostess Picks Little Debbie Maker for Drake's

According to a filing in U.S. bankruptcy court, McKee Foods has offered $27.5 million in cash for the cake brands, which include Devil Dogs, Funny Bones, and Yodels.

Jan 28, 2013 by Mark Brooks

Gold Sinks as Traders Unwind Options Contracts

Gold for February delivery fell $3.70 to settle Monday at $1,652.90 an ounce. Gold prices have dropped 1.3 percent so far this year.

Jan 28, 2013 by Mark Brooks

Oil Slightly Higher After Mixed Economic Reports

Benchmark oil rose 56 cents to finish at $96.44 a barrel on the New York Mercantile Exchange.

Jan 28, 2013 by Mark Brooks

Crucial, Long-Overdue BlackBerry Makeover Arrives

Thorsten Heins, chief executive of Research In Motion, will reveal the first phone with the new BlackBerry 10 system in New York on Wednesday.

Jan 28, 2013 by Mark Brooks

Report: Treasury OK'd Raises at Bailed-Out Firms

The three firms received a combined nearly $250 billion from the bailout fund. Only AIG has fully repaid its $182 billion bailout.

Jan 28, 2013 by Mark Brooks

Apple Updates iPhone, iPad Software

Apple says iOS version 6.1 adds the ability to access the "LTE" networks of 36 additional iPhone carriers.

Jan 28, 2013 by Mark Brooks

They're Back: J. C. Penney Adds Sales

The struggling department store chain this week is rolling out some of the hundreds of sales it ditched last year in hopes of luring back shoppers who were turned off when the discounts disappeared.

Jan 28, 2013 by Mark Brooks

Economists Growing More Upbeat About Year Ahead

A quarterly survey by the National Association for Business Economics released Monday shows half of the economists polled now expect real gross domestic product -- the value of all goods and services produced in the United States -- to grow between 2 and 4 percent in 2013.

Jan 28, 2013 by Mark Brooks

Dollar Rises After Mixed U.S. Economic Data

The euro fell to $1.3457 in afternoon trading from $1.3467. The British pound fell to $1.5690 from $1.5800.

Jan 28, 2013 by Mark Brooks

Iceland Wins Case Over Failed Bank Deposits

The Luxembourg-based European Free Trade Association Court ruled that deposit-guarantee laws did not cover "a systemic bank failure of the magnitude experienced in Iceland."

Jan 25, 2013 by Mark Brooks

Palladium, Platinum Prices Jump on Supply Concerns

Traders were reacting to a report that Russia's stockpiles of those metals are expected to be smaller this year.

Jan 25, 2013 by Mark Brooks

Billionaire Investors Square Off on Live TV

Carl Icahn and Bill Ackman traded barbs about an old investment deal and on Ackman's position in the nutritional supplements distributor Herbalife.

Jan 25, 2013 by Mark Brooks

Fitch Drives Cyprus Deeper Into Junk Status

The agency cut its rating on Cyprus to B from BB- and warned of more possible downgrades as it predicted that the banks' recapitalization needs could be as high as €10 billion ($13.5 billion).

Jan 25, 2013 by Mark Brooks

Geithner Sees U.S. Economy Strengthening Gradually

In an interview Friday on his last day in office, Geithner told The Associated Press, "The economy is stronger than people appreciate."

Jan 25, 2013 by Mark Brooks

Economist: Euro Crisis Could Erupt Again This Year

Economist Barry Eichengreen warned that the debt crisis that has shaken Europe to its core could easily erupt again this year unless European leaders move faster to solve their problems.

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