Oil surge halts Wall Street rally as prices climb
Oil jumped to 65 dollars a barrel, eroding an early stock rally on Wall Street. The Dow fell 21.26 points while S&P 500 and Nasdaq slipped amid cautious mood after Cisco forecast disappoints and oil price pressures persist despite a Fed rate stance.
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Krispy Kreme faces probe after earnings restatement recommendation
A Krispy Kreme committee blames two former executives for earnings manipulation and urges a downward restatement of 25.6 million. The firm, facing SEC and federal probes, lawsuits, and double digit store sales declines, plans restating its financials while continuing investigations.
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N.C. C
Krispy Kreme Doughnuts Inc
Wall Street
Scott Livengood
John Tate
Morningstar
John Owens
Owens
Winston-Salem
Krispy Kreme
New York
Securities and Exchange Commission
SEC
U.S
James Morgan
Employers slow to adopt extended flex spending carryover
Washington AP report notes IRS easing the use-it-or-lose-it rule for flexible spending accounts allows a two and a half month carryover. A Deloitte study of 318 large employers shows only about half plan to let workers use the extra time, citing added administrative complexity and unclear rules.
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Internal Revenue Service
Martha Priddy Patterson
Deloitte Center For Health Solutions
Patterson
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