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Citi's long run of stumbles, successes, near-death

Submitted by Fox First at Ten on October 16th

By JONATHAN FAHEYAP Business Writer NEW YORK (AP) - The bank Michael Corbat will take over made its first mark helping the U.S. government repay its debts after the War of 1812. Two centuries later, when the 2008 financial crisis struck, the bank needed a federal rescue from its own debts. In

Baggage handler at NYC airport gets life in prison

Submitted by Fox First at Ten on October 16th

By TOM HAYSAssociated Press NEW YORK (AP) - The testimony at a federal drug trafficking trial was chilling: Jurors heard how bribed baggage handlers at John F. Kennedy International Airport concealed cocaine on commercial jets inside sensitive wing assembly compartments. Saying the tactic

Bio Box: Michael Corbat, the new CEO of Citigroup

Submitted by Fox First at Ten on October 16th

By The Associated Press NAME: Michael Corbat BORN: May 2, 1960. EDUCATION: Harvard University. Bachelor's in economics, 1983. All-American in football. CAREER: Corbat held several roles at Salomon Brothers, a company that eventually combined with Citi. At Citi, he was head of a division

Investors counting on big 3rd quarter from Google

Submitted by Fox First at Ten on October 16th

By MICHAEL LIEDTKEAP Technology Writer SAN FRANCISCO (AP) - The pressure is on Google to deliver stellar third-quarter earnings to justify a sharp rise in its stock price during the past three months. WHAT TO WATCH FOR: Investors probably will be focusing on how much Google's advertising

Man who falsely confessed to NY murders dies at 68

Submitted by Fox First at Ten on October 16th

NEW YORK (AP) - A man who confessed to three New York City murders he did not commit and spent more than three years in prison has died at age 68. George Whitmore Jr. died Oct. 8 in a Wildwood, N.J., nursing home. The Radzieta Funeral Home in Cape May Courthouse, N.J., said services will be

Battery maker A123 files for bankruptcy protection

Submitted by Fox First at Ten on October 16th

By TOM KRISHERAP Auto Writer DETROIT (AP) - After years of struggling in the nascent market for electric cars, battery maker A123 Systems Inc. filed for bankruptcy protection Tuesday. The filing drew criticism from Republicans who claim the Obama administration has wasted millions of taxpayer

In a surprise, Pandit steps down as Citigroup CEO

Submitted by Fox First at Ten on October 16th

By DANIEL WAGNERAP Business Writer Vikram Pandit, who steered Citigroup through the 2008 financial crisis and the choppy years that followed, abruptly left the bank on Tuesday, stepping down as CEO and as a director. The move shocked Wall Street, and Citigroup offered no explanation. There had

In a surprise, Pandit steps down as Citigroup CEO

Submitted by Fox First at Ten on October 16th

Squirrel population boom frustrates fruit growers

Submitted by Fox First at Ten on October 16th

By WILSON RINGAssociated Press MONTPELIER, Vt. (AP) - Don't let the bright eyes and bushy tails fool you. These squirrels are up to no good. Last year's mild winter and a bumper crop of nuts have caused an apparent explosion in the squirrel population in patches of the country,

Fiat Industrial: CNH rejects merger proposal

Submitted by Fox First at Ten on October 15th

By COLLEEN BARRYAP Business Writer MILAN (AP) - U.S. farm and industrial vehicle group CNH has rejected a merger proposal from its parent, Fiat Industrial, the Italian company said in a statement Monday. Fiat Industrial, which already owns 88 percent of CNH, said in a statement that it has