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Reichardt named chairman emeritus of Holmes Murphy

J. Douglas Reichardt will become chairman emeritus of Holmes Murphy & Associates effective Jan. 1, as part of the organization’s planned leadership perpetuation strategy, the company announced today. No other leadership changes have been announced.…

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Employment losses smallest in more than a year

Companies in the United States cut an estimated 203,000 jobs in October, according to a private report based on payroll data, Bloomberg reported.

The drop was the smallest in more than a year and followed …

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Measure would exempt small businesses from SOX reporting

Small businesses would be granted a permanent reprieve from complying with part of the Sarbanes-Oxley corporate reform laws, under a draft U.S. House of Representatives bill discussed on Tuesday, Reuters reported.

Small companies have not …

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Ticker: Nov. 4

Marsh & McLennan Cos. Inc. (MMC) today reported net income of $221 million, or 41 cents per share, for the third quarter, compared with a net loss of $8 million, or 2 cents per share, …

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Retail store closures could peak early next year

James Goldstein, a retail analyst with CreditSights Inc., predicted last week that retail store closures will peak within the first six months of 2010.

Those closures will be in addition to the loss of 69 …

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Ticker: Nov. 3

ING Groep NV reached an agreement to sell three of its U.S. independent retail broker-dealer units, which make up 75 percent of ING Advisors Network, to Lightyear Capital LLC, the company announced today. The move …

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U.S. dethroned by Britain in Financial Development Index

And down goes the United States.

The United States was knocked out of the top spot of the World Economic Forum’s Financial Development Index, by the United Kingdom, making London the top financial center in …

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Buffett makes big bet on U.S. economy

The final table of the World Series of Poker is still a week away, but Warren Buffett is going all-in now – with a bet on the U.S. economy.

Buffett, chairman and CEO of Berkshire …

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Questions and answers

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Business lender’s bankruptcy bad for taxpayers

CIT Group Inc.’s decision to seek bankruptcy court protection probably will keep money flowing to bondholders and 1 million customers of the 101-year-old commercial lender. Shareholders and taxpayers won’t be as fortunate, Bloomberg reported.

CIT’s …