GM made $22.6 billion. We lost $10.6 billion

In the five years since GM's bankruptcy it made $22.6 billion. But taxpayers lost $10.6 billion on bailout that saved the company. NEW YORK (CNNMoney) GM has earned a stunning $22.6 billion since the dark days of the financial crisis, when the...

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Has the U.K. become a tax haven?

U.S. firms are increasingly eyeing up London for takeover targets to benefit from low U.K. corporate tax rates. LONDON (CNNMoney) Why? Relatively low tax rates and a business-friendly environment. Pfizer (PFE, Fortune 500) was the latest high-profile...

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Jack Dorsey: Now a billionaire, always a 'punk'

NEW YORK (CNNMoney) He's taken out the earring and the blue hair is long gone, but don't call Dorsey corporate. "I'm still a punk," Dorsey insists. "What was amazing to me about the punk scene, which is why I got into it, is because there was this...

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America's growing housing affordability gap

Few can afford a home in San Francisco, while nearly all of Syracuse's residents can afford to buy a place. NEW YORK (CNNMoney) For the typical American household earning the median income, 65.5% of homes were affordable during the first quarter,...

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Stocks: 4 things to know before the open

Click on chart to track premarkets LONDON (CNNMoney) Here are 4 things you need to know before the opening bell: 1. GDP data could show a contraction: The U.S. government is set to revise its first quarter GDP figures at 8:30 a.m. ET, and...

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Google: Overwhelmingly white and male

The company released data showing its staff is weighted heavily towards white males. NEW YORK (CNNMoney) "We're not where we want to be when it comes to diversity," the report states. "And it is hard to address these kinds of challenges if you're...

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Tyson starts a bidding war for Hillshire

NEW YORK (CNNMoney) Meat processor Tyson (TSN, Fortune 500) announced Thursday that it's offering $50 a share for Hillshire Brands (HSH, Fortune 500), exceeding the bid from chicken producer Pilgrim's Pride (PPC) of $45 a share totaling $6.4 billion,...

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Netflix picks up 'DreamWorks Dragons'

NEW YORK (CNNMoney) The two companies announced the deal on Thursday. It comes about a year after DreamWorks committed to bring about 300 hours worth of original programming to Netflix, and two weeks before "How to Train Your Dragon 2" bows in theaters....

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Joe Biden is wrong. China does innovate

Joe Biden chats with his Chinese counterpart Li Yuanchao in Beijing. HONG KONG (CNNMoney) "I challenge you: Name me one innovative project, one innovative change, one innovative product that has come out of China," the vice president dared cadets...

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Stocks up. Investors shrug off weak GDP

Click for more market data. NEW YORK (CNNMoney) The Dow Jones industrial average, the S&P 500 and the Nasdaq were all modestly higher in late-morning trading. The S&P 500 shot to nearly 1,916 after the opening bell, another intraday...

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Toyota recalls 370,000 minivans

Corrosion could cause the spare tire located under the vehicle to fall off Toyota's Sienna minivan. NEW YORK (CNNMoney) The recall affects those minivans that were sold or registered in cold weather states where salt is routinely used to keep...

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Mortgage rates fall - lowest since October

NEW YORK (CNNMoney) The average rate for a 30-year, fixed-rate loan fell to 4.14% from 4.2% last week, Freddie Mac said Thursday. Interest rates have been pushed down as investors, skittish about the economy, have abandoned stocks for U.S. Treasuries,...

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Motorcycle business sees 650% revenue boost

Laura and Brian Klock at Utah's Bonneville Salt Flats. NEW YORK (CNNMoney) Crosswinds of 50 to 60 miles per hour can kick up out of nowhere, even on a sunny day, and it's especially dangerous when attempting to pass a much larger vehicle, like...

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'I made Obama's BlackBerry'

President Obama's BlackBerry was more difficult to create than you'd think. NEW YORK (CNNMoney) "It just really bothered a lot of people -- nobody wanted to put anything out there that wasn't completely secure," said retired NSA technical director...

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After Obamacare's launch, a look ahead

(Money Magazine) Here's what the course of the Affordable Care Act looks like now. Some can still get onboard Even though the enrollment window has closed, you can add or change an individual plan in some circumstances, such as if you lose your...

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Can you afford a home in these 27 cities?

Want to buy a home? Use our calculator to figure out what your monthly mortgage payments will be. NEW YORK (CNNMoney) In Cleveland, a worker only needs to earn an annual salary of $29,800 to be able to afford a home, according to mortgage information...

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Robots will replace fast-food workers

Protesters rally outside McDonald's corporate headquarters in Oak Brook, Ill., on Wednesday to demand higher wages for workers. NEW YORK (CNNMoney) Restaurant industry backers warn that a sharp rise in wages would be counterproductive, increasing...

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Good news for Alibaba: Rival JD pops in IPO

JD Shares are off to a bullish start in their debut on the Nasdaq. NEW YORK (CNNMoney) The initial public offering of JD.com is the latest in a series of companies that are choosing to list in the United States. JD raised just under $1.8 billion...

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Why hasn't eBay emailed customers about the attack?

NEW YORK (CNNMoney) It's been more than 24 hours since eBay (EBAY, Fortune 500) revealed it was hacked. Yet the company still hasn't emailed users to notify them that they must change their passwords. Instead, eBay posted a prominent notice on...

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Stocks up; S&P 500 close to new record

Click for more market data. NEW YORK (CNNMoney) The S&P 500 was up 0.3% in midday trading, coming within a few points of its record close of 1,897 last week. The Dow Jones industrial average and the Nasdaq were both up as well with the...

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FCC moves forward with fast-lane plan

Protesters gathered outside the FCC Thursday to rally against the "fast lane" proposal. NEW YORK (CNNMoney) The Federal Communications Commission voted Thursday to move forward with a proposal that would allow broadband providers to charge companies...

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Comcast plans data limits for all customers

Comcast is attempting to merge with Time Warner Cable, a deal that would combine the two biggest cable companies in the United States. NEW YORK (CNNMoney) David Cohen, executive vice president of America's largest cable company, predicted at...

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Broadcast live video from your smartphone

Mobli allows you to broadcast video from your smartphone to a mass audience in real time. NEW YORK (CNNMoney) Mobli, an Israeli company with a $60-million dollar investment from billionaire Carlos Slim, updated their app Thursday to allow users...

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Pinch me! Europe grew faster than U.S.

LONDON (CNNMoney) Gross domestic product across the 18 countries in the eurozone grew at an annual pace of 0.9% in the first quarter, the European Union's statistical office said Thursday. That compares with growth of 0.1% in the U.S. in the first...

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Russia confirms sharp fall in growth

Russian President Vladimir Putin has seen his country's economy suffer as the Ukraine crisis intensified. LONDON (CNNMoney) Official Russian statistics showed gross domestic product grew by an annual rate of 0.9% in the first quarter. That compares...

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Fast-food workers strike across U.S.

Fast food workers gathered in New York last week to announce the global strikes that are taking place today. NEW YORK (CNNMoney) Union organizers say the strikes will reach 150 U.S. cities and several countries. Danny Rosa said he started...

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Fear is back on Wall Street: Dow down 180

Click for more market data. NEW YORK (CNNMoney) The Dow Jones industrial average was down more than 180 points in recent trading. The S&P 500 and the Nasdaq both fell more than 1%. Investors rushed into bonds, driving the yield on the...

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GM's recall total hits 10 million

NEW YORK (CNNMoney) General Motors has recalled another 3 million autos, bringing the troubled automaker's total for the year to about 10 million. GM has been under fire this year for its botched recall of millions of vehicles with an ignition...

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Wal-Mart is hurting for shoppers

NEW YORK (CNNMoney) The retail king's used the "blame it on the weather" excuse to explain its lackluster first quarter, but Wall Street viewed it with the same skepticism as the dog (or Internet virus) eating a kids' homework. That's because Wal-Mart's...

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