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Stocks close near peak for the week ... Citigroup to change executive pay process ... In China, R&D grew in 2012 ... Retail weak in Canada in December ... News from United Press International.
U.S. financial behemoth Citigroup is changing its executive compensation formula in response to disgruntled shareholders, a regulatory filing said.
U.S. banking giant Citigroup said it would pay its recently fired Chief Executive Officer Vikram Pandit $6.65 million as a bonus for his work in 2012.
Applicants for the top job at Bank of America, the largest U.S. bank, have recommended paring down the bank's size, sources close to the executive search said.
A Boston Red Sox fan who was beaten at Yankee Stadium has filed a federal lawsuit naming the New York team, its security firm and his two assailants.
The U.S. Postal Service unveiled the image of Arthur Ashe for a 37-cent stamp, during opening ceremonies Saturday at the U.S. Open in New York.
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