Ford boosts CEO pay 11% to $23.2 million

Ford CEO Alan Mulally is credited with turning the company around. NEW YORK (CNNMoney) Mulally was paid $23.2 million in 2013, up from about $21 million the previous year, Ford (F, Fortune 500) said in a regulatory filing. For 2013, the automaker's...

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S&P downgrades Target for data breach

Last year's data breach keeps hurting Target. S&P downgraded it one notch. NEW YORK (CNNMoney) The breach compromised credit card numbers and personal information of tens of millions of customers during the 2013 holiday season. Target (TGT,...

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GM adds 824,000 vehicles to recall

NEW YORK (CNNMoney) Until today the recall included the Chevrolet Cobalt and HHR, the Pontiac G5 and Solstice, and Saturn Ion and Sky through model year 2007. Now the company is including all model years of those vehicles because faulty switches could...

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Candy Crush maker prices IPO

NEW YORK (CNNMoney) King Digital Entertainment will begin trading Wednesday under the ticker KING on the New York Stock Exchange at $22.50 a share the company said on Tuesday night. The Dublin, Ireland-based game maker sold 22.2 million shares...

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First legal steps taken against Malaysia Airlines, Boeing

NEW YORK (CNNMoney) Monica Kelly, a lawyer at Ribbeck Law, asked an Illinois state judge on Tuesday to order Malaysia Airlines and Boeing, which manufactured the missing airplane, to provide documents and other information. Kelly is seeking specific...

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Pew: Online news organizations have created 5,000 jobs

A select few news organization, including Al Jazeera America, have greatly expanded their operations. NEW YORK (CNNMoney) Pew Research Center has tried to put a number on it: 5,000. The center's annual State of the News Media report, released...

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Taxpayers hit with fewer audits

NEW YORK (CNNMoney) The agency audited 1.4 million people last year, down 5% from 2012 and the lowest number of audits conducted since 2008, according to IRS statistics released Friday. The IRS blamed its shrinking budget for the drop-off, saying...

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Are Netflix users ripping off the rest of us?

Reed Hastings says Netflix is "reluctantly" paying for faster connections to broadband networks. NEW YORK (CNNMoney) Hastings sounded off Thursday on the likes of Verizon (VZ, Fortune 500), Comcast (CMCSA, Fortune 500) and others, accusing them...

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No winners for $1 billion NCAA challenge

NEW YORK (CNNMoney) The $1 billion prize for a perfect NCAA bracket that his Berkshire Hathaway (BRKA, Fortune 500) was backing will go unclaimed. None of the fans who signed up for the perfect bracket challenge sponsored by Quicken Loans and Yahoo...

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Taxpayers hit with fewer audits

NEW YORK (CNNMoney) The agency audited 1.4 million people last year, down 5% from 2012 and the lowest number of audits conducted since 2008, according to IRS statistics released Friday. The IRS blamed its shrinking budget for the drop-off, saying...

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Are Netflix users ripping off the rest of us?

Reed Hastings says Netflix is "reluctantly" paying for faster connections to broadband networks. NEW YORK (CNNMoney) Hastings sounded off Thursday on the likes of Verizon (VZ, Fortune 500), Comcast (CMCSA, Fortune 500) and others, accusing them...

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Obamacare: Some may have more time to finish applications

The administration may let some people finish their Obamacare applications after March 31 NEW YORK (CNNMoney) Administration officials have repeatedly said they are not extending the open enrollment deadline. But they are now considering giving...

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10 things about the Moto 360 smartwatch

NEW YORK (CNNMoney) Motorola chief designer Jim Wicks sat down to discuss some of the Moto 360's guiding design principles and offer up a few new bits of info on the forthcoming product. Here are 10 things from that talk we found particularly interesting....

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Starbucks CEO backs minimum wage raise

Howard Schultz applauds Obama for taking stance on minimum wage. NEW YORK (CNNMoney) "I applaud the President for taking a stance on raising the minimum wage," he told CNN's Poppy Harlow in an interview. But Schultz, known to donate to Democratic...

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Sony orders first original TV series for PlayStation

NEW YORK (CNNMoney) The company said Wednesday that it had ordered 10 one-hour episodes of "Powers," a drama based on the comic book series of the same name. It will be produced by one of Sony PlayStation's corporate sisters, the Sony Pictures Television...

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Billionaire buys $201 million life insurance policy

NEW YORK (CNNMoney) Guinness World Records, which announced the policy, said it is the largest ever issued. Neither the record keeper nor the issuer would say who is covered by the massive policy. Dovi Frances, the adviser who arranged the policy,...

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Guinness pulls out of St. Patrick's Day parade

Revelers watch the St. Patrick's Day parade last year. NEW YORK (CNNMoney) The beer maker late Sunday announced its decision to drop its sponsorship of Monday's parade in New York City. Over the weekend, gay rights icon Stonewall Inn had threatened...

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Alibaba snub puts Hong Kong exchange on the defensive

Alibaba founder Jack Ma has decided to list his company in the U.S. after negotiations failed with Hong Kong. HONG KONG (CNNMoney) Hong Kong clocked three consecutive years as the global IPO leader between 2009 and 2011, attracting major companies...

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Weibo: China's Twitter files to go public

Weibo, a Chinese microblogging site, filed for an IPO in the U.S. on Friday. NEW YORK (CNNMoney) The Beijing-based social media company intends to list on the New York Stock Exchange and is looking to raise $500 million. Weibo, owned by Sina...

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Crimea: Economic fallout of a 'yes' vote

Crimea is voting on Sunday in a referendum to decide if the region should break from Ukraine and join Russia. LONDON (CNNMoney) The West has called the vote illegal, saying Russian military activity in Crimea violates Ukraine's sovereignty and...

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China loosens grip on its currency

HONG KONG (CNNMoney) The People's Bank of China announced Saturday that it would double the allowable trading range for the yuan against the dollar to 2% from a midpoint rate it sets every day. The change, which is effective Monday, means the yuan...

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GM raising Corvette prices

NEW YORK (CNNMoney) The base price of the sports car just went up by $2,000, going from $51,000 to $53,000. General Motors (GM, Fortune 500) also increased prices for the Stingray convertible by $2,000. It now costs $58,000. In addition, the price...

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Boeing reports wing cracks on Dreamliners

'Hairline cracks' were found on the wings of some Dreamliner jets still in production. NEW YORK (CNNMoney) "Hairline cracks" were found on the wings of some jets still in production, the company said Friday. The aerospace company is inspecting...

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How a marijuana ad went up in smoke

NEW YORK (CNNMoney) The press release in question was published Monday on behalf of MarijuanaDoctors.com, a company that says it helps connect patients with doctors who prescribe medical marijuana. The release stated that MarijuanaDoctors.com was...

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Albertsons to buy Safeway

Albertsons and Safeway, two grocery store chains, will merge. NEW YORK (CNNMoney) The move will create a network of 2,400 stores, 27 distribution facilities and 20 manufacturing plants with more than 250,000 employees. No stores will close...

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Alleged Bitcoin creator pursued in L.A. car chase

NEW YORK (CNNMoney) On Thursday, news reporters in cars sped after 64-year-old retired engineer Dorian Satoshi Nakamoto. The reason: a story in Newsweek fingered him as the probable genius behind the digital currency. Nakamoto had agreed to hop...

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Few uninsured gaining Obamacare coverage

Americans only have until March 31 to sign up for Obamacare coverage or they'll remain uninsured in 2014. NEW YORK (CNNMoney) Some 27% of respondents who picked new individual plans were previously uninsured, according to a survey conducted in...

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Ukraine crisis: Why it matters to the world economy

NEW YORK (CNNMoney) The political turmoil is rooted in the country's strategic economic position. It is an important conduit between Russia and major European markets, as well as a significant exporter of grain. But in the post-Soviet era, it's...

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Ukraine unrest sends Asian stocks lower

HONG KONG (CNNMoney) The slump in the markets was led by Japan's benchmark Nikkei, tumbling 1.8%. Korea's Kospi index dropped 0.9%, while Hong Kong's Hang Seng fell 0.7%, and Australia's ASX All Ordinaries shed 0.6%. Until now, building political...

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Free checking disappearing at the big banks

The majority of credit unions still offer free checking, but it's much harder to find at a bank. NEW YORK (CNNMoney) About 72% of credit unions offer free checking accounts with no strings attached, like required minimum account balances or direct...

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Ex-employee says Madoff "told me what to do"

Accused fraudster Annette Bongiorno said in federal court that she was merely a well-paid typist for Bernard Madoff, and that she didn't know he was running a Ponzi scheme. NEW YORK (CNNMoney) She also testified that she would go back and alter...

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The dysfunctional debate on debt

When it comes to long-term U.S. debt, Washington lawmakers and the White House aren't debating how to handle it, but rather who is ignoring the issue more. NEW YORK (CNNMoney) And both are projected to resume a northward trek in a few years....

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Online poker players get $76 million back

NEW YORK (CNNMoney) A court-appointed administrator announced the distribution Friday of $76 million to roughly 27,500 U.S. customers of the defunct poker site. Their accounts have been frozen since 2011 due to a criminal case. The Poker Players...

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