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Finance

Workers buying businesses from boomer bosses

NEW YORK — As retiring baby boomers look to sell the small businesses they have run for years, top employees are often becoming the boss. The new owners are likely to be general managers, chief operating officers or foremen who ...

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Landed your first job? Tips for managing your money

NEW YORK — Landing that first job out of college calls for a celebration. But when the party is over, it’s time to sit down and figure out how to make your money work for you. “First jobs give you ...

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Poll shows few in US have received credit cards with chips

Even as an Oct. 1 deadline approaches to replace Americans’ out-of-date credit cards with new cards embedded with computer chips, the vast majority of Americans still have not received their new cards and only a small minority are using the ...

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School tax clothing exemptions

The New York State Department of Taxation and Finance kicked off back-to-school shopping season this week by reminding New Yorkers that qualifying clothing and footwear purchases are exempt from New York sales tax year-round. While many states offer “sales tax ...

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Total reboot: How to fix Greece’s economy

ATHENS, Greece — After so much pain, Greece must now figure out how to get its economy back on its feet. The scale of the country’s financial problems is mind boggling — a full quarter of the economy evaporated in ...

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Pros and cons of five years of Dodd-Frank

It has been five years since the Dodd-Frank Act was signed into law but if its critics have their way, it will not see a sixth anniversary. The law — aimed at preventing a financial crisis like the one in ...

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Fed edges toward its first rate hike since 2006

WASHINGTON — The Federal Reserve is getting close to raising interest rates for the first time in nearly a decade, perhaps in September. When it meets this week, though, don’t expect any timetable for a rate hike to be spelled ...

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Radiologist admits to fraud

Dr. Thomas F. Stephenson, 72, of Rochester, has pleaded guilty before U.S. District Court Chief Judge Frank P. Geraci Jr. to committing health care fraud. The charge carries a maximum penalty of 10 years in prison and a fine of ...

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Investors hope earnings lift markets as fears fade

NEW YORK — After fretting over a Greek bailout, a collapse in Chinese stocks and the timing of an interest rate increase, investors are hoping U.S. corporate earnings will bring more reassuring news this month. Companies have started to report ...

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Yellen: Fed still on track to raise rates this year

WASHINGTON — Federal Reserve Chair Janet Yellen said the Fed is on track to start raising interest rates later this year but expressed multiple concerns over headwinds that are still holding back the U.S. economy. She described the outlook for ...

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State aims at high-interest loans to soldiers

ALBANY (AP) — New York state has taken steps to stop lenders from giving high-interest loans to service members. Gov. Andrew Cuomo said Monday that his administration will subject all loans to military personal to the same state regulations already ...

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