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SAN FRANCISCO (MarketWatch) — Standard & Poor’s Ratings Services on Friday raised Hanover Insurance Group’s counterparty credit rating by one notch to BBB- from BB+. The rating is now investment grade. “The rating actions reflect the company’s good competitive position and the successful execution of management’s strategy to refocus the company on its […]

SAN FRANCISCO (MarketWatch) — Standard & Poor’s Ratings Services on Friday raised Hanover Insurance Group’s counterparty credit rating by one notch to BBB- from BB+. The rating is now investment grade. “The rating actions reflect the company’s good competitive position and the successful execution of management’s strategy to refocus the company on its […]

SAN FRANCISCO (MarketWatch) — Shares of Novell Inc. rose more than 5% Friday, one day after the software company said it swung to a profit in its fiscal second quarter. Novell , which provides open source software and services to businesses, posted quarterly results late Thursday including $235.67 million in revenue. Analysts had been estimating […]

SAN FRANCISCO (MarketWatch) — Crude oil for July delivery closed at $127.35 a barrel on the New York Mercantile Exchange Friday, up 73 cents for the day. It recovered from a two-week low set earlier in the session with traders eyeing Sunday’s official start of the Atlantic hurricane season. The June crude contract, which expired […]

SAN FRANCISCO (MarketWatch) — Analog Devices Inc. and Chief Executive Jerald Fishman finalized their settlement with the Securities and Exchange Commission on its investigation into the company’s stock option granting practices, the company said Friday. Without elaborating further, Analog Devices noted the SEC did not charge either the company or Fishman in regard to […]

SAN FRANCISCO (MarketWatch) — Dish Network and EchoStar Corp. filed a lawsuit against TiVo Inc. on Friday, claiming that their DVR software does not infringe on TiVo’s patent. “This action is independent of Tivo’s anticipated motion for contempt in the Eastern District of Texas. We believe any contempt motion by Tivo should […]

NEW YORK (MarketWatch) — American Airlines parent AMR Corp. said Friday it will layoff about 400 employees at its San Juan, Puerto Rico, location. Additionally, American Airlines will reduce its daily flights to Puerto Rico to 18 from 38, and American Eagle’s schedule will go to 33 from 55, said spokeswoman Minnette Velez, […]

SAN FRANCISCO (MarketWatch) — Delta Air Lines Inc. will cut at least 1,000 more jobs than originally planned because more workers than expected took the company’s voluntary severance packages, The Associated Press reported Friday. Delta told the AP that more than 3,000 employees took the package. Earlier in the year, the airline had said […]

SAN FRANCISCO (MarketWatch) — August gold closed at $891.50 an ounce Friday, up $9.80 for the session, but it was still 4.2% lower for the week with moves in the U.S. dollar and oil key to the precious metal’s level of investment demand. The contract finished the month with a gain of more than $22.
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NEW YORK ( MarketWatch) - The British Bankers’ Association said Friday it made no changes to which banks contribute to its panels to set the daily London inter-bank offered rate, or Libor, which is the benchmark for borrowing costs ranging from interest-rate futures to mortgage loans. In a press release distributed at about 6 p.m. […]