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Fed signals future rate cuts

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The Associated Press WASHINGTON_Federal Reserve Chairman Ben Bernanke warned Congress that the nation is in for a period of sluggish business growth and sent a fresh signal today that interest rates will again be lowered to steady the teetering economy. “The economic situation has become distinctly less favorable” since the summer, the Fed chief told… Continue Reading Fed signals future rate cuts

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Venture capital in India reaches record

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The Dow Jones VentureSource reports that venture capitalists invested $928 million via 80 deals in entrepreneurial companies in India, during 2007. The figure represents a 166 percent increase over 2006, this is the highest total on record for the region. “Service-oriented companies in India continue to attract investment and this is likely due to their… Continue Reading Venture capital in India reaches record

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Home prices slide in 17 of 20 metropolitan areas

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Home prices in 20 U.S. metropolitan areas fell in December by the most on record, a private survey showed. The S&P/Case-Shiller home-price index dropped 9.1 percent from December 2006, after a 7.7 percent decrease in November. Nationwide, home prices fell 8.9 percent in the fourth quarter from a year earlier, the biggest decline in 20… Continue Reading Home prices slide in 17 of 20 metropolitan areas

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While the Pikes Peak region didn’t make the Forbes.com “Best Places to Get Ahead” top 10 this week, it fared better than most Colorado cities. Based on data collected by the online giant’s researchers, small and large metropolitan areas were ranked on three separate criteria tracked from 2000 to today. They included: cost of doing… Continue Reading Colorado Springs fares well on “get ahead” list

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State settles pharmaceutical suit

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Attorney General John Suthers announced today the settlement of a civil law enforcement action against drug company Barr Pharmaceuticals. The suit charged Barr Pharmaceuticals and Warner Chilcott with antitrust violations that prevented generic versions of a prescription oral contraceptive, Ovcon, from reaching the marketplace. The lawsuit was filed jointly by thirty-three other states and the… Continue Reading State settles pharmaceutical suit

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New Penrose COO on the job

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Jamie Smith starts today as the Chief Operating Officer of Penrose-St. Francis Health Services. He succeeds Andrea Coleman, who resigned Jan 25. Smith has been working at the Centura Health Service Center as vice president of operations since June 2007. Prior to coming to Centura, he spent five years in hospital management as vice president… Continue Reading New Penrose COO on the job

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Small business day at the capitol

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Colorado’s small business owners are invited to Small Business day at the capitol to learn about legislation this year that could affect their businesses. The National Federation of Independent Business will host the event from 8:30 a.m. to 3 p.m. on March 11. The cost to attend for both NFIB members and nonmembers is $15… Continue Reading Small business day at the capitol

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Seeking vendors, volunteers for Dem conventions

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Experience Colorado Springs at Pikes Peak is hosting a free seminar for businesses and individuals interested in being vendors or volunteers at the Democratic State Convention and the Democratic National Convention. The seminar is scheduled from 5 to 6:30 p.m. Wednesday at the Pikes Peak Center, Studio Bee, 190 S. Cascade Ave. For more information… Continue Reading Seeking vendors, volunteers for Dem conventions

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Starbucks closing – for three hours

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For three hours this afternoon, Starbucks will shut down every one of its 7,100 company-operated stores to allow it’s nearly 135,000 employees to participate in coffee brewing training. Executives said the training seeks “to energize partners and transform the customer experience.” Among the various lessons that will be re-taught include how to wipe the steamer… Continue Reading Starbucks closing – for three hours

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The Colorado Supreme Court this morning reversed a lower court order that prevented Amendment 41, the ethics law and gift ban enacted by voters in 2006, from going into effect. Denver District Judge Christina Habas granted the preliminary injunction to suspend Amendment 41 in May. The injunction was sought by a group of elected officials,… Continue Reading Colorado Supreme Court gives gift-ban law the go ahead

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