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Business and financial news - CNNMoney.com
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From CNN and Money magazine, CNNMoney.com combines business news and in-depth market analysis with practical advice and answers to personal finance questions.
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ZUCKERBERG'S TAX BILL
Facebook's upcoming IPO will make founder and CEO Mark Zuckerberg a billionaire -- but it will also stick him with an eye-popping tax bill that could reach as high as $2 billion.
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Obama's loan program turns a profit
An Obama administration lending program set up to funnel cash to small banks was expected to cost taxpayers $1.3 billion. Instead, it will turn a profit of $80 million.The government sparked criticism for spending less on its small business lending fund for small businesses than intended, but now it says the fund will profit taxpayers.
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Who presidential candidates give their money to
President Barack Obama and Oval Office hopefuls Newt Gingrich and Mitt Romney have all released at least one year of tax returns. And they all gave big money to charity.
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University of Charleston: Cutting tuition by 22%
After seeing enrollment decline for the first time in a decade, the University of Charleston, in West Virginia, slashed tuition by 22% for the upcoming school year hoping to entice more students.
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Stocks pressured by Greek bailout uncertainty
U.S. stocks fell early Tuesday, as investors wait for Greek leaders to agree on the terms of a new bailout package, a key step to avoiding a default.
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How big chocolate plans to save its cocoa supply
FORTUNE -- A Hershey's Kiss is more complicated than it looks. Most of the cocoa in it and other chocolate candies comes from West Africa, and it makes its way through a long supply chain to get to U.S. factories. Now more than ever, Fortune 500 companies such as Hershey (HSY) have to take responsibility for every link in that chain. On January 30, Hershey announced plans to put $10 million towards solving child labor problems on West African cocoa farms by 2017. The money should also help farmers access educational programs and improve their cocoa yield. Hershey's latest move is part of a larger effort to secure the cocoa supply chain whose origins reach back to the founding of the World Cocoa Foundation (WCF) in 2000. The WCF joined big chocolate companies -- including Hershey and its competitors Mars, Nestlé, and Kraft (KFT) -- with governments and farmers in cocoa-producing nations.
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Electric car maker that got U.S. loan cuts jobs
Fisker Automotive, the electric car company that received a half-billion dollars in Energy Department loan guarantees, announced layoffs at its Delaware production facility Monday.
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Government assistance expands
More than one in three Americans lived in households that received Medicaid, food stamps or other means-based government assistance, according to a new report.
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The honeybees are dying
There's good news and bad news on the honeybee beat.
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Mining industry shaken up by $62 billion deal
In a huge consolidation of the international mining industry, Swiss company Glencore International PLC has agreed to acquire rival Xstrata PLC for $61.9 billion in stock, the companies announced Tuesday.
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