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This newspaper page contains 6 articles. Subscribers can read the full text of each article.
Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Nov 20, 2010
Page
6
GM shares rose 0.2 percent to close at 34.26 after a volatile second trading day on the NYSE. Early losses gave way to buying as investors weighed the government bailout and future IPOs, with 107 million shares traded and government stakes under discussion.
American Greetings Corp., based in Cleveland, narrowed its headquarters search to seven sites including Brooklyn, with four suburbs Beachwood Brecksville Independence and Westlake plus two Chicago area locations. A decision is due early next year after Brooklyn raised its income tax. The firm is the largest U.S. publicly traded greeting card company.
Beijing ordered banks to hold more reserves in a second move in two weeks to cool lending and inflation amid U S Chinese tensions over currency policy. Analysts expect another rate rise later this year as Beijing seeks to steady the economy.
Harrah’s Entertainment aborted its planned initial public offering three years after a $17.1 billion private buyout by Apollo and Texas Pacific. The move underscores a cautious market for debt laden gaming firms despite a broader IPO rebound. Harrah’s revenue fell 18 percent from 2007 to last year and the Las Vegas based firm posted a $634.4 million nine month loss through September 30.
Washington reports the maker of the painkiller Dar ren is removing the drug from the market at the behest of public health officials who warn the 50 year old pill can trigger potentially deadly heart rhythms.
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