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Durable goods orders rise, point to factory sector resilience

WASHINGTON - Orders for long-lasting manufactured goods rose more than expected in April, a sign of resilience in the factory sector despite belt-tightening in Washington and weakness in overseas markets.

Recent Business News

P&G CEO switch will not lead to big strategy change-CFO

- Procter & Gamble Co said on Friday the surprise return of A.G. Lafley as chairman and chief executive was not an indication of any bigger problems at the world's largest consumer products maker.

8:49am EDT

EU risks "too big to cooperate" bank supervision

BRUSSELS/LONDON - The role of the European Banking Authority must be beefed up beyond current plans to ensure that regulation of Europe's banks does not fragment into two competing systems, one of the architects of the reforms told a public hearing on Friday.

7:56am EDT

Exclusive: Malaysia tycoon plans IPO of football club Cardiff City - sources

KUALA LUMPUR - Malaysian billionaire Vincent Tan is exploring an IPO of British soccer team Cardiff City for as early as this year, people with knowledge of the matter told Reuters, in a deal that would follow the team's recent promotion to the Premier League.

Raiffeisen CEO quits over offshore deals

VIENNA - Raiffeisen Bank International Chief Executive Herbert Stepic resigned on Friday in what he called an effort to spare his bank from negative publicity over personal property deals that triggered scrutiny by the lender and regulators.

8:21am EDT

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