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	<title>Directorship &#124; Boardroom Intelligence &#187; Boardroom News</title>
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	<link>http://www.directorship.com</link>
	<description>Boardroom Intelligence</description>
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		<title>Wall Street Trade Group Taps Ex-Senator Gregg as CEO</title>
		<link>http://www.directorship.com/wall-street-trade-group-taps-ex-senator-gregg-as-ceo/</link>
		<comments>http://www.directorship.com/wall-street-trade-group-taps-ex-senator-gregg-as-ceo/#comments</comments>
		<pubDate>Tue, 21 May 2013 15:56:46 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[Director's Daily]]></category>

		<guid isPermaLink="false">http://www.directorship.com/?p=48558</guid>
		<description><![CDATA[<p>Former New Hampshire Senator Judd Gregg has been named CEO of the Securities Industry and Financial Markets Association, while former Rep. Ken Bentsen will become president.</p>
]]></description>
			<content:encoded><![CDATA[<p><a title="Link to article" href="http://www.usatoday.com/story/onpolitics/2013/05/20/judd-gregg-lobbying-securities-financial-markets/2327075/" target="_blank">USA Today</a> is reporting that ex-Sen. Judd Gregg (R-N.H.) has been named the new CEO of the Securities Industry and Financial Markets Association (SIFMA) and former Rep. Ken Bentsen (D-Texas) will serve as the organization&#8217;s president. SIFMA is the top trade and lobbying group for the securities industry. According to Gregg, &#8220;Our members provide the resources and expertise that make the economic engine of America work and create a more prosperous life for Americans.&#8221; It should be noted that the CEO&#8217;s job at SIFMA is one of the most lucrative in Washington. Former Chief Executive Tim Ryan was paid $2.9 million in compensation in 2010.</p>
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		<title>Citi Replaces Das With Fraser in Possible Sign of Mortgage Push</title>
		<link>http://www.directorship.com/citi-replaces-das-with-fraser-in-possible-sign-of-mortgage-push/</link>
		<comments>http://www.directorship.com/citi-replaces-das-with-fraser-in-possible-sign-of-mortgage-push/#comments</comments>
		<pubDate>Tue, 21 May 2013 15:55:37 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[Director's Daily]]></category>

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		<description><![CDATA[<p>Citigroup's mortgage unit CEO Sanjiv Das will be replaced by private bank head Jane Fraser.</p>
]]></description>
			<content:encoded><![CDATA[<p>&#8220;Citigroup is replacing Sanjiv Das, the chief executive of its mortgage unit, with private bank head Jane Fraser,&#8221; <a title="Link to article" href="http://www.americanbanker.com/issues/178_97/citigroup-shuffle-fraser-replaces-das-as-mortgage-chief-1059260-1.html" target="_blank">American Banker</a> has learned. Das took the reins at CitiMortgage five years ago and had spent much of her tenure attempting to drag it out of the financial crisis. Fraser is one of the most senior women at Citigroup, which has been criticized for its male-dominated senior ranks. In 2012, American Banker Magazine ranked her No. 11 on its annual list of the &#8220;Most Powerful Women in Banking.&#8221;</p>
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		<title>Ex-Olympus CEO Skeptical Over Japan&#8217;s Corporate Governance</title>
		<link>http://www.directorship.com/ex-olympus-ceo-skeptical-over-japans-corporate-governance/</link>
		<comments>http://www.directorship.com/ex-olympus-ceo-skeptical-over-japans-corporate-governance/#comments</comments>
		<pubDate>Tue, 21 May 2013 15:54:47 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[Director's Daily]]></category>

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		<description><![CDATA[<p>Former Olympus CEO Michael Woodford said he does not believe corporate governance in Japan has changed in the last two years.</p>
]]></description>
			<content:encoded><![CDATA[<p>&#8220;Former Olympus CEO Michael Woodford said he doesn&#8217;t believe corporate governance in Japan has changed at all in the past two years,&#8221; states <a title="Link to article" href="http://www.channelnewsasia.com/news/business/international/ex-olympus-ceo-sceptical-over-japan-s-co/681640.html" target="_blank">Channel NewsAsia</a>. Woodford&#8217;s remarks came during a speech at the 66th CFA Institute Annual Conference on Monday. Woodford used his time at the podium to talk about the lack of transparency in Japan and how it is scaring away foreign investment. &#8220;Large parts of Japan have companies that are run by mediocre boards at best,&#8221; he stated. &#8220;A lot of them are zombie companies. . . . We will see where we are in 12 months&#8217; time.&#8221;</p>
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		<title>Votes Can&#8217;t Shoot Down Golden Parachutes</title>
		<link>http://www.directorship.com/shareholders-cant-shoot-down-golden-parachutes/</link>
		<comments>http://www.directorship.com/shareholders-cant-shoot-down-golden-parachutes/#comments</comments>
		<pubDate>Tue, 21 May 2013 15:52:59 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[Director's Daily]]></category>

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		<description><![CDATA[<p>Advisory votes on "golden parachutes" are not required until just prior to investors approving a takeover.</p>
]]></description>
			<content:encoded><![CDATA[<p>&#8220;Shareholders now have a say on the lucrative severance payments many senior executives get after their companies are taken over,&#8221; states the <a title="Link to article" href="http://blogs.wsj.com/cfo/2013/05/20/shareholders-cant-shoot-down-golden-parachutes/?mod=WSJ_hps_sections_cfo" target="_blank">Wall Street Journal</a>. Unlike say-on-pay votes, though, advisory votes on so-called &#8220;golden parachutes&#8221; are not required until just prior to investors voting on approving a takeover. &#8220;That takes pressure off directors to act on the outcome,&#8221; the newspaper notes, &#8220;because they won&#8217;t have to face shareholders again if the takeover deal closes.&#8221; Institutional Shareholder Services Inc. reports that at least 11 companies have failed say-on-golden-parachute votes since the beginning of last year, including four in 2013. The list includes Ameristar Casinos Inc. and Medicis Pharmaceutical Corp.</p>
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		<title>Serafini Introduces Bills to Reduce Maryland&#8217;s Corporate Income Tax</title>
		<link>http://www.directorship.com/serafini-introduces-bills-to-reduce-marylands-corporate-income-tax/</link>
		<comments>http://www.directorship.com/serafini-introduces-bills-to-reduce-marylands-corporate-income-tax/#comments</comments>
		<pubDate>Tue, 21 May 2013 15:51:54 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[Director's Daily]]></category>

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		<description><![CDATA[<p>Del. Andrew A. Serafini introduced or co-sponsored four failed measures to reduce Maryland's corporate income tax this year, sparking conversations on the topic.</p>
]]></description>
			<content:encoded><![CDATA[<p>During the Maryland General Assembly&#8217;s 2013 session, the <a title="Link to article" href="http://www.herald-mail.com/news/hm-serafini-introduces-bills-to-reduce-marylands-corporate-income-tax-20130518,0,6565217.story" target="_blank">Herald-Mail</a> reports that Del. Andrew A. Serafini (R-Washington) either introduced or co-sponsored four measures aimed at reducing the state&#8217;s high corporate income tax in various ways. None of them passed, but Serafini is hopeful the bills at least started conversations. Maryland&#8217;s corporate income tax rate is at 8.25 percent, while neighboring Virginia&#8217;s rate is at 6 percent of the computed taxable income for corporations. According to the Tax Foundation, Maryland ranks 14th highest among states levying a corporate income tax. &#8220;Serafini predicted that any loss of revenue from a reduction in the state’s corporate income tax could be made up in about three years, because the state would be a more attractive destination for businesses,&#8221; the publication concludes.</p>
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		<title>Use of Stock as Loan Collateral Scrutinized</title>
		<link>http://www.directorship.com/executive-use-of-company-stock-as-loan-collateral-scrutinized/</link>
		<comments>http://www.directorship.com/executive-use-of-company-stock-as-loan-collateral-scrutinized/#comments</comments>
		<pubDate>Tue, 21 May 2013 15:49:58 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[Director's Daily]]></category>

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		<description><![CDATA[<p>Executives pledging stock as collateral for loans are gaining attention, with 107 companies mentioning the term "pledging policy" in proxy statements in 2013, up from eight in 2012.</p>
]]></description>
			<content:encoded><![CDATA[<p>&#8220;Corporate policies on whether executives can pledge their company stock as collateral for loans are getting a fresh look,&#8221; notes the <a title="Link to article" href="http://blogs.wsj.com/cfo/2013/05/20/executive-use-of-company-stock-as-loan-collateral-scrutinized/?mod=WSJ_hps_sections_cfo" target="_blank">Wall Street Journal</a>. An analysis by Glen Schleyer, an executive-compensation attorney at Sullivan &amp; Cromwell LLP, shows that 107 companies have specifically mentioned the term &#8220;pledging policy&#8221; in proxy statements since the first of this year &#8212; an increase from just eight in all of 2012. In last year&#8217;s fourth quarter, proxy-advisory firm Institutional Shareholder Services (ISS) said it could start looking at any hedging or pledging of company shares by executives as a &#8220;failure in risk oversight,&#8221; since a margin call could force executives to sell their stock at an inopportune time. &#8220;ISS said it would consider whether companies disclosed an anti-pledging policy in their proxies,&#8221; adds the Journal, &#8220;but could recommend that investors vote against corporate directors if there is &#8216;significant&#8217; pledging.&#8221;</p>
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		<title>Fierce Battle for Corporate Loans Sparks U.S. Bank Risk Concerns</title>
		<link>http://www.directorship.com/fierce-battle-for-corporate-loans-sparks-u-s-bank-risk-concerns/</link>
		<comments>http://www.directorship.com/fierce-battle-for-corporate-loans-sparks-u-s-bank-risk-concerns/#comments</comments>
		<pubDate>Tue, 21 May 2013 15:48:15 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[Director's Daily]]></category>

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		<description><![CDATA[<p>The amount of business loans made by U.S. banks rose to $1.55 trillion at the beginning of this month, a 10 percent increase over one year prior.</p>
]]></description>
			<content:encoded><![CDATA[<p>The <a title="Link to article" href="http://www.ft.com/intl/cms/s/0/595a0abe-c01b-11e2-b19c-00144feab7de.html#axzz2TlrJ9yaG" target="_blank">Financial Times</a> is reporting that &#8220;U.S. banks are making riskier corporate loans as they seek to boost their flatlining profits and fight off tough competition from other lenders and the booming bond market.&#8221; New Federal Reserve data shows that the amount of business loans made by U.S. banks rose to $1.55 trillion at the beginning of this month &#8212; a 10 percent increase versus the same period a year ago. However, intense competition to extend financing to U.S. businesses means that some banks are dramatically slashing the terms and interest rates at which they offer the business loans. M&amp;T Bank Vice Chairman Mike Pinto remarks, &#8220;We are worried about the competitive atmosphere. It creates the temptation to do silly things.&#8221;</p>
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		<title>Actavis Buying Warner Chilcott For $8.5 Billion</title>
		<link>http://www.directorship.com/actavis-buying-warner-chilcott-for-8-5-billion/</link>
		<comments>http://www.directorship.com/actavis-buying-warner-chilcott-for-8-5-billion/#comments</comments>
		<pubDate>Tue, 21 May 2013 15:41:38 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[Director's Daily]]></category>

		<guid isPermaLink="false">http://www.directorship.com/?p=48544</guid>
		<description><![CDATA[<p>Actavis is buying Warner Chilcott in an all-stock transaction valued at about $8.5 billion.</p>
]]></description>
			<content:encoded><![CDATA[<p>&#8220;Actavis is buying Warner Chilcott in an all-stock transaction valued at about $8.5 billion, which would create the third-biggest specialty pharmaceutical company in the U.S.,&#8221; the <a title="Link to article" href="http://www.washingtonpost.com/business/actavis-buying-warner-chilcott-in-all-stock-transaction-valued-at-about-85-billion/2013/05/20/37e628b0-c140-11e2-9aa6-fc21ae807a8a_story.html" target="_blank">Washington Post</a> reports. The announcement follows reports that Actavis rebuffed takeover bids from such companies as Mylan Inc. and Canada&#8217;s Valeant Pharmaceuticals International Inc. &#8220;Actavis was formed last fall through a $5.6 billion combination of Watson Pharmaceuticals of New Jersey and Actavis of Switzerland,&#8221; notes the Post. &#8220;Actavis sells versions of the deep vein thrombosis treatment Lovenox, asthma medication Xopenex, attention deficit hyperactivity disorder drugs Adderall XR and Concerta, and the cholesterol fighter Lipitor.&#8221;</p>
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		<title>Funds Get Active Over Director Pay</title>
		<link>http://www.directorship.com/funds-get-active-over-director-pay/</link>
		<comments>http://www.directorship.com/funds-get-active-over-director-pay/#comments</comments>
		<pubDate>Tue, 21 May 2013 15:40:26 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[Director's Daily]]></category>

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		<description><![CDATA[<p>A growing number of mutual funds are supporting activist investors' efforts to use incentive pay packages for directors they nominate in proxy fights.</p>
]]></description>
			<content:encoded><![CDATA[<p>&#8220;Mutual-fund firms are joining activist investors in getting more aggressive over demands for change in how board members are paid at U.S. companies,&#8221; reports the <a title="Link to article" href="http://online.wsj.com/article/SB10001424127887323398204578489140831989094.html" target="_blank">Wall Street Journal</a>. A growing number of activist investors have been experimenting more frequently with incentive pay packages for the directors they nominate in proxy fights. Now, mutual-fund firms and their executives are throwing their weight behind activists&#8217; efforts. John Wakeman, portfolio manager at mutual-fund giant T. Rowe Price Group Inc., laments that current compensation structures do not give directors enough of a stake in ensuring the company performs well. He adds that boards need to be more creative about tying pay to performance. The National Association of Corporate Directors notes that the 200 largest public U.S. companies by revenue paid their outside directors a median of $244,637 last year &#8212; an increase from $231,021 in 2011. Equity, such as restricted stock, represented a majority of that pay.</p>
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		<title>Apple Avoided Taxes on Overseas Billions, Senate Panel Finds</title>
		<link>http://www.directorship.com/apple-avoided-taxes-on-overseas-billions-senate-panel-finds/</link>
		<comments>http://www.directorship.com/apple-avoided-taxes-on-overseas-billions-senate-panel-finds/#comments</comments>
		<pubDate>Tue, 21 May 2013 15:38:37 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[Director's Daily]]></category>

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		<description><![CDATA[<p>Apple paid no corporate income tax to any national government on tens of billions of dollars in overseas income in the past four years, a Senate panel disclosed hours before CEO Tim Cook is expected to testify before the Permanent Subcommittee on Investigations.</p>
]]></description>
			<content:encoded><![CDATA[<p>The <a title="Link to article" href="http://online.wsj.com/article/SB10001424127887324787004578495250424727708.html" target="_blank">Wall Street Journal</a> has learned that Senate investigators found that &#8220;Apple Inc. paid no corporate income tax to any national government on tens of billions of dollars in overseas income over the past four years&#8221; &#8212; a revelation that fuels the debate over whether the U.S. tax code is in dire need of an overhaul. The disclosure comes in the wake of a prolonged examination of the technology giant&#8217;s tax practices by the U.S. Senate&#8217;s Permanent Subcommittee on Investigations, which will likely make public its findings at a Tuesday hearing. Apple CEO Tim Cook, who is set to testify at the hearing, is expected to &#8220;propose changes to a tax code that provides American companies strong incentives to keep overseas earnings bottled up at foreign subsidiaries,&#8221; the Journal notes. According to the Senate panel&#8217;s findings, Apple used technicalities in both U.S. and Irish tax law to pay little or no corporate taxes on at least $74 billion over the last four years. It is important to note that the investigation found no proof of illegal activity, though. &#8220;Apple didn&#8217;t dispute that entities it set up didn&#8217;t pay corporate taxes,&#8221; the Journal concludes, &#8220;but denied they were designed to avoid taxes.&#8221;</p>
<p><a title="Link to article" href="http://abcnews.go.com/Business/apple-ceo-tim-cook-testifies/story?id=19219178" target="_blank">ABC News</a> notes that Apple issued an advance copy of Cook&#8217;s testimony last night. In its 17 pages of self-defense, Cook declares that his company &#8220;does not use tax gimmicks&#8221; and paid almost $6 billion in U.S. taxes last year, making it &#8220;likely the largest corporate income tax payer in the U.S.&#8221; He adds that Apple&#8217;s effective tax rate for 2012 was approximately 30.5 percent. Cook will speak on what he and others see as an outdated tax code, contending that the American corporate tax system has not kept pace with &#8220;the advent of the digital age and the rapidly changing global economy.&#8221;</p>
<p>The <a title="Link to article" href="http://www.theglobeandmail.com/report-on-business/international-business/us-business/ireland-says-it-is-not-to-blame-for-low-apple-tax-rate/article12033928/" target="_blank">Toronto Globe and Mail</a> states that &#8220;Ireland said on Tuesday it was not to blame for Apple Inc.&#8217;s low global tax payments after the U.S. Senate said the company paid little or nothing on billions of dollars in profit stashed in Irish subsidiaries.&#8221; The Irish government adds that it is pursuing the issue &#8220;very strongly&#8221; with the European Union and the Organization for Economic Co-operation and Development (OECD), which has taken the lead on anti-tax evasion initiatives. The issue will be a main topic of discussion at a meeting of European Union officials later today.</p>
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		<title>Futures Fall as Markets Await Hints From Fed</title>
		<link>http://news.yahoo.com/futures-fall-markets-await-hints-fed-115406043.html</link>
		<comments>http://news.yahoo.com/futures-fall-markets-await-hints-fed-115406043.html#comments</comments>
		<pubDate>Tue, 21 May 2013 11:54:06 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[New York Times]]></category>
		<category><![CDATA[Wall Street Journal]]></category>

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		<description><![CDATA[<p>NEW YORK (AP) — U.S. stock futures are down in light trading ahead of an appearance this week by Fed Chairman Ben Bernanke before Congress.</p>
]]></description>
			<content:encoded><![CDATA[<p><a rel="nofollow"  href="http://news.yahoo.com/futures-fall-markets-await-hints-fed-115406043.html"><img src="http://l.yimg.com/bt/api/res/1.2/_4HnU581634hVbJ7PgAQgw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http%3A//media.zenfs.com/en_us/News/ap_webfeeds/1a2c37fb06757711320f6a7067006cc2.jpg" width="130" height="86" alt="FILE - This May 14, 2012 file photo shows brochures at a Home Depot store in Danvers, Mass. The Home Depot Inc. reports quarterly financial results before the market opens on Tuesday, May 21, 2013. (AP Photo/Elise Amendola, File)" align="left" title="FILE - This May 14, 2012 file photo shows brochures at a Home Depot store in Danvers, Mass. The Home Depot Inc. reports quarterly financial results before the market opens on Tuesday, May 21, 2013. (AP Photo/Elise Amendola, File)" border="0"/></a>NEW YORK (AP) — U.S. stock futures are down in light trading ahead of an appearance this week by Fed Chairman Ben Bernanke before Congress.</p><br clear="all"/>]]></content:encoded>
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		<title>Yahoo’s Gamble</title>
		<link>http://dealbook.nytimes.com/2013/05/21/yahoos-gamble/</link>
		<comments>http://dealbook.nytimes.com/2013/05/21/yahoos-gamble/#comments</comments>
		<pubDate>Tue, 21 May 2013 11:42:27 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
				<category><![CDATA[Boardroom News]]></category>
		<category><![CDATA[New York Times]]></category>
		<category><![CDATA[Wall Street Journal]]></category>

		<guid isPermaLink="false">http://dealbook.nytimes.com/2013/05/21/yahoos-gamble/</guid>
		<description><![CDATA[<p>To understand Yahoo's acquisition of Tumblr, consider Yahoo's deal for GeoCities in 1999. &#124; For technology deal makers, business is booming. &#124; SAC Capital Advisors is bracing for another round of withdrawal requests. &#124; Apple avoided bill...</p>
]]></description>
			<content:encoded><![CDATA[To understand Yahoo's acquisition of Tumblr, consider Yahoo's deal for GeoCities in 1999. &#124; For technology deal makers, business is booming. &#124; SAC Capital Advisors is bracing for another round of withdrawal requests. &#124; Apple avoided billions in taxes in the United States and around the world, Congressional investigators disclosed.]]></content:encoded>
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		<title>Housing Recovery Boosts Home Depot Results; Outlook Raised</title>
		<link>http://news.yahoo.com/home-depot-quarterly-profit-sales-rise-102221949.html</link>
		<comments>http://news.yahoo.com/home-depot-quarterly-profit-sales-rise-102221949.html#comments</comments>
		<pubDate>Tue, 21 May 2013 11:22:13 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
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		<description><![CDATA[<p>By Dhanya Skariachan (Reuters) - Home Depot Inc reported higher-than-expected quarterly results and raised its sales and profit outlook for the year as the world&#039;s largest home improvement chain benefited from a nascent recovery in the U.S. housin...</p>
]]></description>
			<content:encoded><![CDATA[<p><a rel="nofollow"  href="http://news.yahoo.com/home-depot-quarterly-profit-sales-rise-102221949.html"><img src="http://l1.yimg.com/bt/api/res/1.2/6zvEHhAgImz6T7rFQiUaDg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http%3A//media.zenfs.com/en_us/News/Reuters/2013-05-21T112213Z_1_CBRE94K0STM00_RTROPTP_2_HOMEDEPOT-RESULTS.JPG" width="130" height="86" alt="The entrance to The Home Depot store is pictured in Monrovia, California" align="left" title="The entrance to The Home Depot store is pictured in Monrovia, California" border="0"/></a>By Dhanya Skariachan (Reuters) - Home Depot Inc reported higher-than-expected quarterly results and raised its sales and profit outlook for the year as the world&#039;s largest home improvement chain benefited from a nascent recovery in the U.S. housing market. The news on Tuesday boosted Home Depot shares by 3.9 percent to $79.75 in premarket trading. A bubble in the U.S. housing market was at the core of the 2007-2009 financial crisis. During the downturn, Home Depot&#039;s sales at established stores fell more than 20 percent in such markets as Florida and California. ...</p><br clear="all"/>]]></content:encoded>
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		<title>Vodafone Keeps Verizon Payout to Make Up for European Slump</title>
		<link>http://news.yahoo.com/vodafone-posts-biggest-fall-revenue-063457270.html</link>
		<comments>http://news.yahoo.com/vodafone-posts-biggest-fall-revenue-063457270.html#comments</comments>
		<pubDate>Tue, 21 May 2013 10:56:38 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
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		<description><![CDATA[<p>By Kate Holton and Paul Sandle LONDON (Reuters) - Vodafone will reinvest a $3.2 billion dividend from its healthy U.S. arm to counter weakness in southern Europe that contributed to the largest ever quarterly fall in the group&#039;s main revenue measu...</p>
]]></description>
			<content:encoded><![CDATA[<p><a rel="nofollow"  href="http://news.yahoo.com/vodafone-posts-biggest-fall-revenue-063457270.html"><img src="http://l3.yimg.com/bt/api/res/1.2/rWoBN5XkpXDJVonKUm2_Kw--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http%3A//media.zenfs.com/en_us/News/Reuters/2013-05-21T105518Z_3_CBRE94K0IB700_RTROPTP_2_CZECH.JPG" width="130" height="86" alt="The Vodafone logo is seen at the counter of the shop in Prague" align="left" title="The Vodafone logo is seen at the counter of the shop in Prague" border="0"/></a>By Kate Holton and Paul Sandle LONDON (Reuters) - Vodafone will reinvest a $3.2 billion dividend from its healthy U.S. arm to counter weakness in southern Europe that contributed to the largest ever quarterly fall in the group&#039;s main revenue measure. The British firm is trying to decide whether to sell Verizon Wireless, its profitable U.S. unit in what could be the world&#039;s third largest deal to support its struggling core operations. ...</p><br clear="all"/>]]></content:encoded>
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		<title>Board at J.P. Morgan Faces Shake-Up</title>
		<link>http://online.wsj.com/article/SB10001424127887323463704578495562962198502.html?mod=rss_management</link>
		<comments>http://online.wsj.com/article/SB10001424127887323463704578495562962198502.html?mod=rss_management#comments</comments>
		<pubDate>Tue, 21 May 2013 10:20:42 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
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		<description><![CDATA[<p>J.P. Morgan is preparing for  a shake-up of its board even if every director wins re-election at Tuesday's shareholder meeting and James Dimon keeps his dual job as chairman and chief executive.</p>
]]></description>
			<content:encoded><![CDATA[J.P. Morgan is preparing for  a shake-up of its board even if every director wins re-election at Tuesday's shareholder meeting and James Dimon keeps his dual job as chairman and chief executive.]]></content:encoded>
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		<title>IT Firm iGate Sacks CEO Over Undisclosed Relationship</title>
		<link>http://news.yahoo.com/igate-sacks-chief-executive-murthy-sexual-harassment-claim-022626936.html</link>
		<comments>http://news.yahoo.com/igate-sacks-chief-executive-murthy-sexual-harassment-claim-022626936.html#comments</comments>
		<pubDate>Tue, 21 May 2013 10:02:46 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
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		<description><![CDATA[<p>By Sumeet Chatterjee and Harichandan Arakali MUMBAI/BANGALORE (Reuters) - IT outsourcing company iGate Corp said it had sacked its chief executive, Phaneesh Murthy, for not disclosing a relationship with a subordinate after investigating one of the ind...</p>
]]></description>
			<content:encoded><![CDATA[<p><a rel="nofollow"  href="http://news.yahoo.com/igate-sacks-chief-executive-murthy-sexual-harassment-claim-022626936.html"><img src="http://l2.yimg.com/bt/api/res/1.2/1yv8925jmAxQaAB2fC7WMg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http%3A//media.zenfs.com/en_us/News/Reuters/2013-05-21T022626Z_1_CBRE94K06SC00_RTROPTP_2_INDIA-IGATE.JPG" width="130" height="86" alt="Phaneesh Murthy, president and CEO of iGate, poses during the World Economic Forum (WEF) in Davos" align="left" title="Phaneesh Murthy, president and CEO of iGate, poses during the World Economic Forum (WEF) in Davos" border="0"/></a>By Sumeet Chatterjee and Harichandan Arakali MUMBAI/BANGALORE (Reuters) - IT outsourcing company iGate Corp said it had sacked its chief executive, Phaneesh Murthy, for not disclosing a relationship with a subordinate after investigating one of the industry&#039;s best-known executives for sexual harassment. Murthy had led several initiatives to improve the performance of the Fremont, California-based company, including charging clients for business results instead of man hours, the billing method more commonly used by IT outsourcing firms. ...</p><br clear="all"/>]]></content:encoded>
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		<title>May 21: Embattled Ambercrombie CEO&#8217;s Day of Reckoning?</title>
		<link>http://www.forbes.com/sites/barbarathau/2013/05/21/may-21-embattled-ambercrombie-fitch-ceos-day-of-reckoning/</link>
		<comments>http://www.forbes.com/sites/barbarathau/2013/05/21/may-21-embattled-ambercrombie-fitch-ceos-day-of-reckoning/#comments</comments>
		<pubDate>Tue, 21 May 2013 08:30:25 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
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		<description><![CDATA[<p>Mike Jeffries, The CEO of Abercrombie &#38; Fitch, whose resurrected 2006 comments about the teen chain’s exclusive courtship of “cool, good-looking” kids sparked a firestorm of objections and protests this month, might just be changing his ways.</p>
]]></description>
			<content:encoded><![CDATA[Mike Jeffries, The CEO of Abercrombie &amp; Fitch, whose resurrected 2006 comments about the teen chain’s exclusive courtship of “cool, good-looking” kids sparked a firestorm of objections and protests this month, might just be changing his ways.]]></content:encoded>
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		<title>Sprint receives SoftBank waiver to consider Dish offer</title>
		<link>http://news.yahoo.com/sprint-gets-waiver-softbank-permitting-discussions-dish-010741743.html</link>
		<comments>http://news.yahoo.com/sprint-gets-waiver-softbank-permitting-discussions-dish-010741743.html#comments</comments>
		<pubDate>Tue, 21 May 2013 04:16:00 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
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		<description><![CDATA[<p>By Mari Saito TOKYO (Reuters) - Sprint Nextel Corp said its Japanese suitor SoftBank Corp granted it a waiver allowing it to consider a $25.5 billion rival bid by Dish Network Corp, as pressure mounts on SoftBank to sweeten its offer for the No. 3 U.S....</p>
]]></description>
			<content:encoded><![CDATA[<p><a rel="nofollow"  href="http://news.yahoo.com/sprint-gets-waiver-softbank-permitting-discussions-dish-010741743.html"><img src="http://l.yimg.com/bt/api/res/1.2/Yxcgm7OtFXwELzmDGLOCLg--/YXBwaWQ9eW5ld3M7Zmk9ZmlsbDtoPTg2O3E9ODU7dz0xMzA-/http%3A//media.zenfs.com/en_us/News/Reuters/2013-05-21T010741Z_1_CBRE94K035C00_RTROPTP_2_CTECH-US-SPRINT-SOFTBANK.JPG" width="130" height="86" alt="A woman walks past logos of Softbank Corp at its branch in Tokyo" align="left" title="A woman walks past logos of Softbank Corp at its branch in Tokyo" border="0"/></a>By Mari Saito TOKYO (Reuters) - Sprint Nextel Corp said its Japanese suitor SoftBank Corp granted it a waiver allowing it to consider a $25.5 billion rival bid by Dish Network Corp, as pressure mounts on SoftBank to sweeten its offer for the No. 3 U.S. wireless carrier. Sprint said its recommendation in favor of the SoftBank agreement had not changed, although some major Sprint shareholders including Paulson &amp; Co and Omega Advisors have publicly said the Dish offer looks better than SoftBank&#039;s deal. SoftBank, which agreed last October to pay $20. ...</p><br clear="all"/>]]></content:encoded>
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		<title>New Chesapeake CEO Was Latecomer to Search</title>
		<link>http://online.wsj.com/article/SB10001424127887323463704578495403033434668.html?mod=rss_management</link>
		<comments>http://online.wsj.com/article/SB10001424127887323463704578495403033434668.html?mod=rss_management#comments</comments>
		<pubDate>Tue, 21 May 2013 02:17:05 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
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		<description><![CDATA[<p>Doug Lawler, the Anadarko Petroleum executive picked to be Chesapeake Energy's second-ever CEO, was hired after Chesapeake shifted strategy in its search to replace Aubrey McClendon.</p>
]]></description>
			<content:encoded><![CDATA[Doug Lawler, the Anadarko Petroleum executive picked to be Chesapeake Energy's second-ever CEO, was hired after Chesapeake shifted strategy in its search to replace Aubrey McClendon.]]></content:encoded>
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		<title>The Tax Costs for Tumblr’s Owners</title>
		<link>http://dealbook.nytimes.com/2013/05/20/the-tax-costs-for-tumblrs-owners/</link>
		<comments>http://dealbook.nytimes.com/2013/05/20/the-tax-costs-for-tumblrs-owners/#comments</comments>
		<pubDate>Tue, 21 May 2013 00:07:41 +0000</pubDate>
		<dc:creator>News Editor</dc:creator>
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		<description><![CDATA[<p>One downside of a deal to sell to Yahoo is that it creates an immediate taxable gain for Tumblr’s shareholders, the author writes.</p>
]]></description>
			<content:encoded><![CDATA[One downside of a deal to sell to Yahoo is that it creates an immediate taxable gain for Tumblr’s shareholders, the author writes.]]></content:encoded>
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