Breaking Business News latest RSS headlines - Nigeria Sun.com

Ex-Im Bank loan guarantee to Air India upheld by US appeals court

Tue, 18 Jun 2013 17:24:35 -0400

WASHINGTON - A U.S. appeals court has upheld a decision by the U.S. Export-Import Bank to finance the sale of 30 Boeing wide-body jets to Indian state-owned carrier Air India in a legal challenge brought by Delta Air Lines to the loan guarantee. The court has however directed the government-run bank to better explain its rationale for providing loan guarantee, which Delta claimed as a victory ...

Google spending $7mn to fight child pornography

Tue, 18 Jun 2013 17:23:53 -0400

LONDON - Internet giant Google said it is spending $5 million to wipe images of child abuse off the Internet and another $2 million to create tools to find the images and eradicate them. "We're in the business of making information widely available, but there's certain 'information' that should never be created or found," wrote Jacqueline Fuller, director of Google Giving, in a blog post. "We ...

Aspen seeks to acquire GSK thrombosis drug and plant

Tue, 18 Jun 2013 17:20:31 -0400

DURBAN / LONDON - South Africa's biggest generic drug maker Aspen Pharmacare and its subsidiary Aspen Global Incorporated have made an offer to acquire thrombosis drugs and their associated manufacturing site at Notre Dame de Bondeville, France, from GlaxoSmithKline (GSK). "AGI will acquire from GSK the Arixtra and Fraxiparine/Fraxodi brands and business worldwide, except in China, Pakistan ...

Shenzen to be first Chinese city to begin carbon trading

Tue, 18 Jun 2013 17:12:35 -0400

BEIJING - China, the world's biggest carbon emitter, is set to launch Tuesday its first carbon trading scheme as a pilot project in the southern city of Shenzhen as part of efforts to cut emissions in its key cities. Carbon emissions trading schemes are meant to encourage companies to reduce their carbon dioxide emissions by setting a limit or a cap, on the level of emission that can be ...

UK inflation rises to 2.7pc in May pushed by higher transport cost

Tue, 18 Jun 2013 17:12:21 -0400

LONDON - The consumer price index (CPI) inflation increased to 2.7% in May, up from 2.4% in April, mainly due to higher fuel costs pushing up transportation costs particularly airfares, the Office for National Statistics (ONS) said Tuesday. The ONS said the rise was due to a record increase in airfares and higher fuel prices. "The inflation rate has returned to the levels seen between ...

Yahoo follows Facebook and Microsoft in publishing US govt sought snoop data

Wed, 19 Jun 2013 02:40:03 -0400

Internet corporation Yahoo has followed the league of technological companies in publishing reports about 'snoop data' requests made by the US government. According to the Guardian, Yahoo has revealed that it had received 12,000-13,000 requests, inclusive of criminal, Foreign Intelligence Surveillance Act (FISA), and other requests by the government between 1 December 2012 and 31 May 2013. ...

Earnings Watch Updates advisories and surprises

Wed, 19 Jun 2013 08:51:22 -0400

+1.09% reported its fourth-quarter profit fell to $303 million, or 95 cents a share, from $550 million, or $1.73 a share, a year earlier. Earnings adjusted for business realignment and an aircraft impairment charge were $679 million, or $2.13 a share, compared with $634 million, or $1.99 a share in 2013. Revenue rose to $11.4 billion, from $11 billion a year earlier, the shipping company said ...

G8s tough talk on tax avoidance must not ring hollow | Kevin Watkins

Wed, 19 Jun 2013 08:47:38 -0400

G8 leaders and EU delegates at the summit in Lough Erne, Northern Ireland, which has produced a communique on tax evasion. Photograph: Matt Cardy/Getty ...

Diet Coke man Andrew Cooper on the return of the iconic TV advert - Cannes Lions 2013 video

Wed, 19 Jun 2013 08:47:36 -0400

Cannes Lions International Festival of Creativity to discuss the enduring appeal of the ad's concept on the 30th anniversary of the product's launch. Matthew Charlton of BETC London who produced the ad, says the video is already a social media ...

BT chief executive exits to become trade minister

Wed, 19 Jun 2013 08:47:35 -0400

Lord Green , who has served as a minister since early 2011 and is approaching retirement.The son of a Glasgow GP, Livingston's talent was spotted early by the Dixons chairman Sir Stanley Kalms, who made Livingston the youngest FTSE 100 finance director at the age of 32. He joined BT in the same role, before becoming chief executive in June 2008 at the age of 43.Having transformed the former ...

FedEx Sends Wall Street A Surprise $679M Q4 Profit Beats Expectations

Wed, 19 Jun 2013 08:45:58 -0400

(Photo credit: erikleenaars) FedEx made a surprise delivery today, reporting quarterly figures that easily beat expectations. The company earned $303 million, 95 cents a shares, in its fiscal fourth quarter, compared to $550 million, $1.73 a share, a year earlier. Excluding one-time items, FedEx made $679 million, $2.13 a share. That's considerably more than analysts' projection for ...

FedEx Earnings Blow Past Estimates

Wed, 19 Jun 2013 08:43:50 -0400

FedEx posted a bigger than expected quarterly profit as its ground shipment business did well, and the company saw benefits from lower jet fuel prices.FedEx, considered an economic bellwether because of the massive volume of goods it moves across the world, had net income of $303 million, or 95 cents a share for its fourth quarter ended May 31, compared with $550 million or $1.73 a share a year ...

Money for a Squirrel Census Nuts

Wed, 19 Jun 2013 08:43:49 -0400

GoFundMe have become the go-to resource for projects as diverse as starting a business, turning an invention into reality or funding a personal goal or need.Talked-about tech--including the Pebble smartwatch and the vibrating HAPIfork--got a start on crowdfunding sites, and after the Boston Marathon bombings, friends and family of victims used such sites to raise money to help with medical bills. ...

QE Infinity Now 6 Months Economists

Wed, 19 Jun 2013 08:43:48 -0400

Why Fed Taper Means Tighten in Markets ) "The shift in QE forever to QE for a finite period of time is the thing" the markets are focusing on, agreed Jeff Knight, head of global asset allocation at Columbia Management with $58 billion under management. "Primarily the quantitative easing has had [more of] a financial market impact than a real economy impact." Silvia said the ...

Working from home Boss may still be peeking over your shoulder

Wed, 19 Jun 2013 08:38:36 -0400

bout 13.4 million people, or about 9.5 percent of workers, were working home at least some of the time in 2010. That's up from about 9.2 million workers in 1997. Even if you are thousands of miles away from the office and wearing your pajamas, your boss could still be watching you just as closely as if you were sitting in the next cubicle over.Some companies are monitoring employees' ...

Twist-off wine cork may make corkscrews obsolete

Wed, 19 Jun 2013 08:38:35 -0400

research project developed this, a twist off wind cork that could make corkscrews obsolete. it's easy to use. developers hope it's something that wineries might start using soon. i don't know, what do you guys think of ...

Stock futures hold recent gains as Fed statement looms

Wed, 19 Jun 2013 08:32:07 -0400

NEW YORK (Reuters) - Stock futures were little changed on Wednesday following two days of gains ahead of a highly anticipated Federal Reserve statement and news ...

Tesla recalls some Model S vehicles due to seat-mount defect

Wed, 19 Jun 2013 08:32:06 -0400

Tesla Motors CEO Elon Musk speaks next to the company's newest Model S during the Model S Beta Event held at the Tesla factory in Fremont, California October 1, ...

FedEx posts higher than expected profit

Wed, 19 Jun 2013 08:32:06 -0400

Handlers scan and affix a courier route label onto packages moving down the belt at the Marina Del Rey, California FedEx station December 12, ...

Bank of England still divided flags market impact of Fed uncertainty

Wed, 19 Jun 2013 08:32:05 -0400

LONDON (Reuters) - Bank of England policymakers acknowledged earlier this month that further market volatility could be on the way because of uncertainty about the direction of U.S. monetary policy, but came no closer to shifting their own ...

Commerzbank to cut around 3000 jobs by 2016 trade union

Wed, 19 Jun 2013 08:32:05 -0400

The trade union was negotiating job cuts in Germany. The 3,000 cuts do not include staff reductions at Hypothekenbank Frankfurt, a unit formerly known as ...

Mortgage Applications Skid as Interest Rates Jump

Wed, 19 Jun 2013 08:29:37 -0400

Interest rates on home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on Wednesday. Rates climbed 2 basis points to average 4.17 in the week ended June 14, according to the Mortgage Bankers Association. It was the highest level since March of last year. After hovering around record lows, rates have ...

European Markets Steady Ahead of Fed

Wed, 19 Jun 2013 08:29:37 -0400

European shares were up by mid-session on Wednesday in light and volatile trade as investors looked to the U.S. Federal Reserve for clues on the duration of its equity-friendly stimulus programme. The possibility the Fed could scale back its bond purchases has spooked global equity markets in recent weeks and, as news of such a move was not expected from the meeting which ends late on Wednesday, ...

Softbank Inches Closer to Acquiring Sprint

Wed, 19 Jun 2013 08:29:36 -0400

TOKYO/NEW YORK – Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week. SoftBank Chief Executive Masayoshi Son is now a step closer to sealing the largest overseas acquisition by a Japanese company in history, after ...

Fed Looms Large But No Action Expected

Wed, 19 Jun 2013 08:29:34 -0400

WASHINGTON – Federal Reserve policymakers will likely announce on Wednesday that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open to scale back the program later this year if the U.S. labor market continues to improve. Economic data since the 19 officials met in May has been mixed. Employment growth was steady and consumers kept spending ...

World Bank watching Fed ready to respond

Wed, 19 Jun 2013 08:28:41 -0400

LONDON (Reuters) - The World Bank is concerned about the spillover effects on developing countries of a slowing of U.S. money creation and will move to provide affordable capital when borrowing costs rise, its president said on ...

More gold investors think cost inflation has peaked

Wed, 19 Jun 2013 08:28:01 -0400

Investors are growing more bearish on the prospects for gold, as a recent survey by J.P. Morgan points out that only 44% of respondents now think bullion will move higher in the next 12 months. While that marks a sharp decline from 71% last year, investors are still bullish for the long term, with 60% of them anticipating gold will rise in the next three years. Analyst John Bridges pointed out ...

Your preview to the most anticipated Fed announcement in a long time

Wed, 19 Jun 2013 08:28:00 -0400

The whole world has been anxiously waiting for this moment. The Federal Reserve will wrap up its 2-day Federal Open Market Committee (FOMC) meeting on Wednesday. At 2:00 PM ET, it will publish its FOMC statement as well as an update to its economic forecasts. Then at 2:30 PM ET, Fed Chairman Ben Bernanke will hold a press conference, which will include a Q&A with economics ...

New Bank of Canada chief expected to signal low rate to stay in public debut

Wed, 19 Jun 2013 08:28:00 -0400

Bank of Canada Governor Stephen Poloz will probably use his first public speech since taking office Wednesday to stress that rebuilding business investment is a key challenge, suggesting he won't tighten monetary policy ...

Housing crash wouldn’t hurt Canadian banks at first

Wed, 19 Jun 2013 08:27:59 -0400

Canadian banks are well positioned to absorb credit losses arising from a housing downturn in the country, say analysts, but a collapse could have knock-on effects that will dampen future earnings growth and potentially have negative long-term implications for "Big 6" investors. "While a ‘hard’ landing for domestic housing, including a sustained decline in selling ...

Avoid social media slipups the Dunkin Donuts way

Wed, 19 Jun 2013 08:26:48 -0400

(MoneyWatch) It's increasingly common to see businesses suffer at the hands of some social media faux pas. It can come in many forms, from having ...

How to find hidden gems in real estate

Wed, 19 Jun 2013 08:26:48 -0400

(MoneyWatch) The watchword in the real estate world comes in triplicate: location, location, location. That adage can really work against you as a home buyer, particularly in today's seller's market. Homes in the most desirable locations in any city are snapped up within days of going on the market -- and at increasingly high prices. "We're already seeing multiple offers ...

Halfway through the year halfway to success

Wed, 19 Jun 2013 08:26:47 -0400

(MoneyWatch) Christmas seems is a time from now, but the end of June brings us halfway through the year. It's a good time to take stock of where you stand on your annual goals -- those things you'd like to say in a year-end performance review you'd give yourself. Are you on track? Reviewing my own list, I find I'm doing well on some things. I finished a draft of a novel. ...

Look who doesnt deserve financial aid at NYU

Wed, 19 Jun 2013 08:26:46 -0400

Commentary:(MoneyWatch) Last summer I met a woman who decided, along with her husband, to sell their home so that her daughter could attend New York University. The family concluded that this enormous sacrifice was worth it so her daughter could major in theater at a school near Broadway. I was stunned when I heard the woman confess to giving up the family home so they could afford to send their ...

Microsoft slashes Surface prices to lure buyers

Wed, 19 Jun 2013 08:26:46 -0400

MSFT ) has seen a run of poor financial results in recent years as a result of bad management choices. That seems to include the company's answer to the iPad, the Surface, which already seems to be sinking in popularity -- so much so ...

Olympian Lolo Jones Paycheck Flap

Wed, 19 Jun 2013 08:25:45 -0400

(Image credit: Jeff Kravitz/FilmMagic/Getty Images) American Olympic hurdler Lolo Jones said she wanted to show how hard bobsled athletes work when she posted a six-second clip about her paycheck on social video sharing site Vine. In the video, Jones, 30, shows her paycheck of $741.84 from her season with the USA Bobsled and Skeleton Federation, dated June 10. She says in ...

Big Boost for GM and Ford in China

Wed, 19 Jun 2013 08:25:45 -0400

Morning Business Memo … Both Ford and General Motors are revving up production in China – now the world’s largest car market. GM has started work on a new Cadillac factory as it targets China’s lucrative luxury segment. The carmaker says it hopes to triple Cadillac sales to 100,000 units by 2015. It also wants to quadruple its share of China’s luxury car market to ...

Microsoft office goes cloud to join cloud war with Google Docs

Wed, 19 Jun 2013 08:14:07 -0400

The war on cloud intensified as Microsoft Office announced its decision on Tuesday to go cloud in an attempt to compete with its immediate but not last competitor, Google Docs.Microsoft holds a virtual monopoly on office productivity software. Most computer users in the world use the Office software for word processing, spreadsheet, presentation and other purposes. However, Microsoft Office faces ...

Air France-KLM orders 25 wide-body Airbus A350s

Wed, 19 Jun 2013 07:49:32 -0400

Visitors walk among planes displayed at the 50th Paris Air Show at Le Bourget airport, north of Paris, Wednesday June 19, 2013. Visible at foreground is a Bombardier Global 6000 jet.(AP Photo/Remy de la ...

Markets steady as investors ready for Fed

Wed, 19 Jun 2013 07:49:30 -0400

The central bank wraps up a two-day policy meeting later Wednesday and investors are looking to see if policymakers are moving towards any change in its monetary policy stance. The Fed's strategy of super-low interest rates and easy money over the past few years has been designed to shore up the U.S. economy. It has also helped drive sentiment in the ...

Atul Singh Coca-Colas new deputy president Pacific Group

Wed, 19 Jun 2013 07:46:24 -0400

New Delhi, June 19 : Atul Singh, Coca-Cola's president and CEO (India and Southwest Asia), will take over as deputy president (Pacific Group) from July 1, the company said ...

US STOCKS-Futures little changed as Fed statement looms

Wed, 19 Jun 2013 07:42:10 -0400

Wed Jun 19, 2013 7:42am EDT * Fed statement, news conference in focus * Adobe shares up after results * Futures: Dow up 16 pts, S&P off 0.6 pt, Nasdaq up 4 pts NEW YORK, June 19 (Reuters) - U.S. stock index futures were little changed on Wednesday following two days of gains ahead of a highly anticipated Federal Reserve statement and news conference. * The Fed will release a policy statement at ...

Supreme court quashes Iran bank sanctions and criticises secret hearings

Wed, 19 Jun 2013 07:42:09 -0400

Supreme court president, Lord Neuberger, said: 'Having held a closed hearing, it turned out that there had been no point in the supreme court seeing the closed judgment.' Photograph: David Levene for the ...

Ed Balls calls for reform to curb bankers recklessness – video

Wed, 19 Jun 2013 07:42:09 -0400

The shadow chancellor, Ed Balls, says a report on banking standards shows the sector needs to change to dissuade bankers from 'reckless misconduct'. The report by the parliamentary commission on banking standards, suggests a new law to jail careless bankers and a 10-year delay on receiving ...

AstraZeneca suffers diabetes drug disappointment

Wed, 19 Jun 2013 07:42:08 -0400

has suffered another drug trial setback.Its diabetes drug Onglyza, developed with Bristol-Myers Squibb, failed to reduce heart risks or strokes in a large scale clinical trial. Despite investor hopes, the Savor trial showed the drug was no better than placebo or standard treatments.Panmure Gordon analyst Savvas Neophytou issued a hold recommendation on the shares, which have dipped 2.5p to 32.48, ...

Ocado climbs on talk of possible interest from Amazon

Wed, 19 Jun 2013 07:42:07 -0400

reports that Boots and Amazon may be interested in Ocado.The Amazon suggestion, which is not completely out of the blue, comes from Cantor Fitzgerald. US analyst Youssef Squali said Amazon should buy Ocado, or at least consider a joint venture, as it begins its food delivery service in the US.Ocado's shares, which have been on the rise in recent months, have added another 2.7p to ...

Markets Markets wait for Federal Reserve policy meeting

Wed, 19 Jun 2013 07:41:41 -0400

Conall Mac Coille, chief economist Davy, commented -- "US indices rose on Tuesday, benefitting from a rebound in housing starts to 914,000 in June. The S&P500 rose 0.8%. But a rise in the German ZEW investor sentiment was not sufficient to buoy European markets - the Euro Stoxx 50 fell 0.1%. Ahead of the Fed's policy decision this evening, the minutes of the Bank of ...

Microsoft Samsung HP join to stop Windows piracy

Wed, 19 Jun 2013 07:39:24 -0400

IDG News Service - Hewlett-Packard and Samsung Electronics will now ensure that their PCs in China are installed with licensed Windows and Office software as part of new agreements signed with Microsoft meant to fight ...

The Real Reason Fed Will Taper Pro

Wed, 19 Jun 2013 07:39:16 -0400

Noted Nomura bear Bob Janjuah believes he knows the reason why the Federal Reserve will begin pulling back its easing program, and it's not about unemployment, inflation or anything else directly related to the economy. Instead, he believes the central bank is worried that it is creating an asset bubble that will only get worse if it keeps following the current ...

Fed Likely to Keep Options Open on Bond Buying

Wed, 19 Jun 2013 07:39:16 -0400

Federal Reserve policymakers will likely announce on Wednesday that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open to scale back the program later this year if the U.S. labor market continues to improve. Economic data since the 19 officials met in May has been mixed. Employment growth was steady and consumers kept spending despite the drag of tax ...

IRS to Pay $70 Million in Bonuses

Wed, 19 Jun 2013 07:39:15 -0400

The Internal Revenue Service is about to pay $70 million in employee bonuses despite an Obama administration directive to cancel discretionary bonuses because of automatic spending cuts enacted this year, according to a GOP senator. Sen. Chuck Grassley of Iowa says his office has learned that the IRS is executing an agreement with the employees' union on Wednesday to pay the bonuses. ...

Should Reckless Bankers Go to Jail

Wed, 19 Jun 2013 07:39:14 -0400

The UK parliamentary banking standards report calls for jailing reckless senior bankers and handing regulators the power to claw back bonuses. Helia Ebrahimi has ...

DuckDuckGo Gets Boost from NSA Scandal

Wed, 19 Jun 2013 07:39:14 -0400

DuckDuckGo CEO Gabriel Weinberg says web traffic on his search engine, billed as an alternative to Google that doesn't store your private information, surged 33 percent after the NSA news broke. Weinberg discusses the model of his search engine, and how the company makes ...

Obama says U.S. EU free trade deal can boost jobs and growth

Wed, 19 Jun 2013 07:36:13 -0400

U.S. President Barack Obama speaks next to German Chancellor Angela Merkel during a news conference after their meeting at the Chancellery in Berlin, June 19, 2013. REUTERS/Thomas ...

Bernankes Decision Likely Data Driven Expert

Wed, 19 Jun 2013 07:33:50 -0400

Catherine Mann, Brandeis International Business School, and Julia Coronado, BNP Paribas, share their perspective on what will likely be revealed from today's FOMC minutes, and the future of the Fed's bond-buying ...

Global Markets Europe Higher in Choppy Trade

Wed, 19 Jun 2013 07:33:47 -0400

CNBC's Ross Westgate reports on all the market moving events from Europe, as investors await the Fed's policy statement following its two-day ...

Google putting consumers at risk state AGs say

Wed, 19 Jun 2013 07:33:43 -0400

Google is being accused of "assisting in the sale of prescription drugs without a prescription and intentionally ignoring reports of rogue pirate sites selling stolen music, movies, software and video ...

Chinese Go On UK Luxury Spending Spree

Wed, 19 Jun 2013 07:30:47 -0400

A Chinese conglomerate is to spend 1bn to buy British yacht maker Sunseeker and develop an upmarket London hotel. Dalian Wanda Group is taking a 91.8% stake in Sunseeker for £320m. The yacht builder, which employs 2,300 staff in Dorset, has been told its base in Poole and the workforce will be retained. Management are to purchase the remaining ...

Chancellor Orders RBS To Accelerate US Sale

Wed, 19 Jun 2013 07:30:47 -0400

George Osborne is putting pressure on Royal Bank of Scotland (RBS) to accelerate its exit from the US retail banking market, Sky News understands. People familiar with discussions between the RBS board and the Chancellor say he has urged the bank in recent weeks to accelerate a stock market flotation of Citizens, one of the largest retail banks in the US, which has been pencilled in for 2015. ...

HM says new collections selling well

Wed, 19 Jun 2013 07:26:09 -0400

At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...

Chinas Wanda aims to launch $1 billion NY hotel project this year chairman

Wed, 19 Jun 2013 07:26:09 -0400

Wang Jianlin, chairman of Dalian Wanda Group, poses for a photo during an interview at his office in the company's headquarters in Beijing December 3, ...

Mortgage applications tumble as rates rise further MBA

Wed, 19 Jun 2013 07:26:09 -0400

NEW YORK (Reuters) - Interest rates on home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on ...

Tata Motors upgrades existing cars as rivals launch new products

Wed, 19 Jun 2013 07:26:08 -0400

TAMO.NS ) on Wednesday launched eight upgrades of existing models, including a CNG-fuelled version of its low-cost Nano, but said little about plans for completely new vehicles to help reverse sliding car sales in ...

Vodafone set to trump Liberty with $10 billion cash bid for Kabel sources

Wed, 19 Jun 2013 07:26:08 -0400

The logo of Germany's biggest cable operator, Kabel Deutschland, is pictured above a monitor wall at the Kabel Deutschland playout center in Frankfurt February 25, ...

Santander says does not need to make new bad debt provisions

Wed, 19 Jun 2013 07:26:07 -0400

At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...

Europe Markets European stocks rise with Fed update in sight

Wed, 19 Jun 2013 07:23:45 -0400

LONDON (MarketWatch) -- European stock markets moved cautiously higher on Wednesday, with what is likely to be a volatile day ahead as investors waited for the much-anticipated monetary-policy decision from the U.S. Federal ...

Wall Streets lawfare strategy against regulation | Heidi Moore

Wed, 19 Jun 2013 07:23:09 -0400

already weakened state of the attempt at financial regulation - like taking a hammer to a housefly. Still, a phalanx of injured parties - 11 states, two groups dedicated to conservative economic agendas and one Texas state bank - argued that Dodd-Frank is unconstitutional. Their complaints all center around the part of Dodd-Frank that wants to solve the problem of "too big to fail" by ...

Photos Rare Painting Sold for $21M

Wed, 19 Jun 2013 07:18:42 -0400

A rare Expressionist painting by Wassily Kandinsky, "Studie zu Improvisation 3, 1909", was auctioned for $21,157,438 on June 18 in London by Christie's. It was the most expensive item sold of 44 lots in the "Impressionist and Modern Art Evening Sale". In Nov. 2012, Kandinsky's "Studie fr Improvisation 8, 1909" set a record for the artist when ...

Photos Disney Estate on Sale for $90M

Wed, 19 Jun 2013 07:18:41 -0400

The Carolwood Estate, nicknamed the Disney estate, in Los Angeles is on sale for $90 million. The property once belonged to Walt Disney, founder of the Walt Disney Company, ABC News' parent. Billionaire Gabriel Brener bought the animator's old barn on Carolwood Drive from the estate of Disney's widow in 1998, tore it down and annexed the neighboring land. An eight-bedroom home was ...

STOCKS NEWS EUROPE-Micro Focus hits record high on earnings beat

Wed, 19 Jun 2013 07:13:50 -0400

* FY underlying pretax profit 26.4 mln euros, down 66 pct* Dividend maintained at 3.5 cents* Says confident of improved earnings in medium termBy James DaveyLONDON, June 19 (Reuters) - Darty, Europe's No. ...

Wall Street betting on last-minute debt deal

Wed, 19 Jun 2013 07:07:11 -0400

With no political deal in Washington on raising the U.S. debt limit just days before a crucial deadline, investors are increasingly worried about a downgrade of the country's top-notch credit rating, or even an actual governmnent debt default. The U.S. Treasury Department has said the Congress must act before Aug.2 to avoid a catostropic default. With the dealine drawing close fast,political ...

Average earnings up 0.5 in 2012

Wed, 19 Jun 2013 06:42:21 -0400

Average annual earnings for Irish workers rose by 0.5% last year to €36,079. Earnings were up in 9 of the 13 sectors covered by the CSO statistics for 2012. The sector which showed the biggest increase was "professional, scientific and technical" where average earnings rose 5.2% to just under ...

No NSA Spying Did NOT Prevent a Terror Attack on Wall Street

Wed, 19 Jun 2013 06:42:03 -0400

June 19, 2013 In response to the revelation that the NSA has been illegally spying on all Americans for more than a decade, NSA chief General Keith Alexander claimed that the spying prevented a terrorist attack on Wall Street and the New York subway. There's only one problem: the claim is completely false. The Christian Science ...

Indications Stock futures higher but jittery ahead of Fed

Wed, 19 Jun 2013 06:38:48 -0400

MADRID (MarketWatch) -- U.S. stock market futures moved cautiously higher on Wednesday as markets awaited the main event: a monetary-policy decision from the Federal Open Market Committee, with a press conference to follow from Federal Reserve Chairman Ben ...

Conventional markets could cure capital concern

Wed, 19 Jun 2013 06:35:48 -0400

The relationship between co-ops and capital has never been straightforward. While in theory co-ops fund their capital needs from their members' own capital and from retained profits, in practice co-ops have frequently needed to bring in external capital. ...

Savings rates lag inflation ... what are your options

Wed, 19 Jun 2013 06:35:47 -0400

savings account paying 3.38% a year, while those on a higher rate need an interest rate of at least 4.5%. And the bad news is that not a single standard savings account delivers big enough returns. Even if you do not pay tax, you will struggle to beat inflation: ...

Mervyn King outvoted on QE in his 194th and final MPC meeting

Wed, 19 Jun 2013 06:35:46 -0400

Bank of England rate-setting meeting.Minutes of the monetary policy committee (MPC) confirmed that the governor bowed out with one last call for another 25bn ...

Berkeley reports 26 jump in profits

Wed, 19 Jun 2013 06:35:44 -0400

property market in London and the south-east.Berkeley reported revenues of 1.4bn for the year ending April 2013, up more than 30% on last year, helped by advance sales of its riverside flats and detached houses.The housebuilder said activity outside the south-east had not recovered since the 2008 downturn, but was likely to pick up as a result of the government's "help to buy" ...

Wednesday Newspaper Review - Irish Business News and International Stories - - June 19 2013

Wed, 19 Jun 2013 06:35:13 -0400

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management ...

Airbus wins A350 order from Air France-KLM

Wed, 19 Jun 2013 06:21:13 -0400

Air France-KLM has been at loggerheads with suppliers over issues mainly including maintenance of the plane's Rolls-Royce engines ever since the deal was first mooted in 2011. Air France and Rolls had clashed over conflicting ideas for engine supply ...

German cartel court takes on Porsche lawsuit source

Wed, 19 Jun 2013 05:40:46 -0400

Reuters © A logo is seen on a Porsche 911 Carrera 4S displayed ahead of the annual news conference at the Porsche headquarters in Stuttgart March 15, 2013. REUTERS/Lisi ...

Asian Stocks Fall On Uncertainty Over Fed Policy

Wed, 19 Jun 2013 05:37:34 -0400

Asian stocks fell broadly on Wednesday as investors adopted a cautious stance ahead of the outcome of the two-day policy meeting of the U.S. Federal Reserve. With Fed Chairman Ben Bernanke scheduled to hold a press conference shortly after the meeting, investors wait to hear what he has to say about possible tapering of bond purchases and the future course of Fed policy. Japanese shares bucked ...

Stocks to Watch FedEx Micron are Wednesday’s stocks to watch

Wed, 19 Jun 2013 05:34:01 -0400

SAN FRANCISCO (MarketWatch) -- Among the shares expected to see active trade in Wednesday's session are those of FedEx Corp., Micron Technology Inc. and Red Hat ...

ITV buys US production company Thinkfactory Media

Wed, 19 Jun 2013 05:30:44 -0400

ITV has made its third foray into the US TV production sector, paying $30m (19m) for a controlling stake in the company behind Kevin Costner drama Hatfields & McCoys.The UK broadcaster is buying 65% of Los ...

Bankers banged up They need to return to planet Earth first | Polly Toynbee

Wed, 19 Jun 2013 05:30:42 -0400

Bang up the bankers! That has a nice ring to it, like the rioter's line in Henry VI (part two) that always gets a roar of approval, "let's kill all the lawyers". But does anyone really think any of them will land in the clink? The degree of personal recklessness would have to be extreme.The parliamentary commission on banking standards ...

Rio Tinto rises after Australian job cuts as markets await Bernanke

Wed, 19 Jun 2013 05:30:41 -0400

has moved higher after job cuts and a broker recommendation.The mining giant is cutting more than 40 office jobs in its Australian iron ore division, to reflect changing market conditions. Chief executive Sam Walsh unveiled plans earlier this year to save $5bn of costs over the next two years.Meanwhile Citigroup added the miner to its most favoured stock list, helping its shares climb 52p to ...

Dreamliner Diverted In Latest Boeing Setback

Wed, 19 Jun 2013 05:19:36 -0400

A Boeing 787 Dreamliner has landed safely after being diverted when pilots were made aware of a potential oil filter problem. In the latest of a series of setbacks for the new model, United Airlines said a Dreamliner on its way to Tokyo from Denver was forced to land in Seattle as a precaution. The planes were only recently returned to the skies after regulators grounded them worldwide due ...

Cable Presses For RBS Bonus Link To Lending

Wed, 19 Jun 2013 05:19:36 -0400

Vince Cable is to push for the new boss of Royal Bank of Scotland (RBS) to have his pay more closely-tied to its small business lending amid intensifying debate about its future. Speaking to Sky News, the Business Secretary said he was also considering the case for reinstigating formal lending targets for the state-backed bank for the first time since 2010. "I am keen for RBS to have ...

New Eurofighter chief aims to make jet cheaper

Wed, 19 Jun 2013 05:15:09 -0400

At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...

Parliamentary commission on banking standards reaction in full

Wed, 19 Jun 2013 04:26:21 -0400

major report from the parliamentary commission on banking standards calling for a new law to jail bankers for reckless misconduct, the deferral of bonuses and more measures to foster ...

G-8 leaders agree proposals on tax avoidance and evasion

Wed, 19 Jun 2013 04:25:53 -0400

The G-8 (Group of Eight - - 7 leading industrialised nations; US, Japan, Germany, UK, France Canada, Italy plus Russia) have agreed on proposals to tackle tax avoidance and evasion that call for new laws to stop businesses from shifting profits across borders, urge greater transparency about company ownership and sharing of ...

Japanese exports value jumps in May Trade deficit remains in red

Wed, 19 Jun 2013 04:25:52 -0400

HM Earnings Drop More Than Expected

Wed, 19 Jun 2013 04:23:52 -0400

H&M , the world's second-largest fashion retailer, posted a bigger than expected drop in second-quarter earnings, hit by still sluggish consumer morale and bad weather in its main European market. The Swedish company said it was entering the third quarter with higher inventories than planned and the situation remained challenging in many of its major markets, but sales had got off to a ...

UK Auditor Agrees Fine And Ban In New York

Wed, 19 Jun 2013 04:15:48 -0400

A division of one of the UK's biggest auditors, Deloitte, has been fined $10m (6.4m) by New York state for its actions in advising Standard Chartered Bank over money laundering. In addition to the fine, Deloitte's Financial Advisory Services arm was also banned for one year from taking new work in the state after officials ruled it did not carry out its duties independently. The ...

European stocks climb before Fed decision

Wed, 19 Jun 2013 04:14:18 -0400

EUROPE'S main stock markets rose at the start of trading on Wednesday, ahead of the outcome of the US Federal Reserve's latest monetary policy gathering. London's benchmark FTSE 100 index gained 0.12 per cent to 6,381.94 points, Frankfurt's DAX 30 added 0.30 per cent to 8,254.57 points and in Paris the CAC 40 advanced 0.12 per cent to 3,865.13 compared with Tuesday's closing ...

HM sales earnings slump

Wed, 19 Jun 2013 04:12:41 -0400

(20 mins ago) Swedish fashion retailer Hennes & Mauritz, which has stores in Hong Kong, says profits fell by 11 percent in the second quarter due to the strong Swedish krona and increased markdowns of its products. The company said net profit for the March-May period dropped to 4.66 billion kronor (US$720 million) from 5.22 billion a year earlier. Sales for the quarter slipped marginally to ...

Leasing firm CIT orders 30 Boeing 737 MAX planes

Wed, 19 Jun 2013 04:11:08 -0400

Visitors chat in front of models of the 777-300ER (L) and 737-8 MAX passenger planes, with a scale of 1:40, at the Boeing booth on the first day of the China International Aviation & Aerospace Exhibition in the southern Chinese city of Zhuhai November 13, ...

EADS sticks to defense business mulls options CEO

Wed, 19 Jun 2013 04:11:08 -0400

EAD.PA ) has no plans to give up its defense business but is open to seeking alternatives for parts of it, Chief Executive Tom Enders told a German ...

Revision of Cypriot bailout terms not likely euro zone officials

Wed, 19 Jun 2013 04:11:07 -0400

BRUSSELS (Reuters) - The euro zone does not intend to change the terms of Cyprus's bailout as requested by Cypriot President Nicos Anastasiades in a letter sent to euro zone leaders and its lenders, three senior euro zone officials said on ...

European stocks wobble as Fed statement near

Wed, 19 Jun 2013 04:09:18 -0400

LONDON (MarketWatch) -- European stock markets showed mixed moves at the open on Wednesday, with what is likely to be a volatile day ahead as investors wait for the much anticipated monetary-policy decision from the U.S. Federal Reserve. A statement from the Fed meeting is expected after the European markets close, followed by a press conference by Chairman Ben Bernanke. The Stoxx Europe 600 ...

UPDATE 3-Softbank closer to acquiring Sprint after Dish abandons bid for now

Wed, 19 Jun 2013 04:05:50 -0400

Wed Jun 19, 2013 4:05am EDT * Sprint shareholders meeting to determine whether SoftBank offer passes * Dish cites new hurdles in latest Sprint/SoftBank pact for decision * SoftBank shares rise, Sprint shares dip in late trade By Sophie Knight and Sinead Carew TOKYO/NEW YORK, June 19 (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint ...

George Osborne to outline plan for RBS Lloyds

Wed, 19 Jun 2013 03:28:42 -0400

The fate of Britain's two state-controlled banks will become clearer today, with the country’s finance minister George Osborne likely to start the clock ticking for the sale of the government's stakes. Britain's previous government pumped £66bn of public money into Royal Bank of Scotland and Lloyds Banking Group in 2008 to save them from collapse at the height of the ...

Metals Stocks Gold extends losses as Bernanke update nears

Wed, 19 Jun 2013 03:25:03 -0400

LOS ANGELES (MarketWatch) -- Gold futures fell Wednesday, remaining near one-month lows as the market braced for possible indication by the U.S. Federal Reserve that it will pull back the pace of monetary ...

Federal Reserve meeting dominates the markets - eurozone crisis live

Wed, 19 Jun 2013 03:21:48 -0400

After weeks of anticipation, Federal Reserve chairman Ben Bernanke will speak about the US stimulus package tonight. Photograph: Manuel Balce ...

First-rate customer care is key to making your business a success

Wed, 19 Jun 2013 03:21:47 -0400

Customers are the most important asset to your business and looking after them is essential to your success. All businesses, whatever their size, should have a carefully considered customer care plan and treat it as a core value. This means bearing your customers or clients in mind when making decisions and ensuring that they have positive experiences when dealing with your company.Offering ...

Would the threat of jail be enough to end bankers reckless behaviour

Wed, 19 Jun 2013 03:21:47 -0400

Jail threat for reckless bankers to help clean up system Commission led by Andrew Tyrie recommends jailing bankers for 'reckless misconduct' and enforcing a wait for ...

Deloitte banned from Wall Street consultancy work

Wed, 19 Jun 2013 03:21:15 -0400

The state of New York announced on Tuesday, that Deloitte, a Big 4 accounting firm, has been banned for a year from accepting Wall Street consultancy work - - in effect from hundreds of financial institutions in New York City and fined $10m for "misconduct, violations of law, and lack of autonomy during its consulting work at Standard Chartered on anti-money laundering ...

Smithfield CEO could make about $46.6 million from Shuanghui deal

Wed, 19 Jun 2013 03:06:23 -0400

SFD.N ) Chief Executive Larry Pope could receive nearly $46.6 million in merger-related payments as part of a planned takeover by China's Shuanghui International, a securities filing ...

Asian markets tense before Fed Nikkei outperforms

Wed, 19 Jun 2013 03:06:22 -0400

"It's merely a technical rebound," said Mitsushige Akino, chief fund manager at Ichiyoshi Asset Management. He said that with the market still vulnerable to selling, "most investors want to see the outcome before they take long ...

Obama to call for U.S.-Russia nuclear arms cuts

Wed, 19 Jun 2013 02:54:32 -0400

Barack Obama 's foreign-policy speech in Berlin Wednesday will call for additional U.S.-Russia nuclear-arms cuts, administration officials said. He is expected to say Washington and Moscow can shrink their nuclear arsenals by up to one-third beyond cuts mandated under the 2010 New Start, or Strategic Arms Reduction Treaty, without hurting deterrence or capabilities, the officials told The ...

UPDATE 1-Aegon cuts average earnings growth target for 2010-2015

Wed, 19 Jun 2013 02:54:09 -0400

Wed Jun 19, 2013 2:54am EDT (Releads with lower average growth target) AMSTERDAM, June 19 (Reuters) - Dutch life insurer Aegon on Wednesday lowered its average growth target for underlying earnings before tax, blaming the low interest rate environment. As recently as June 5, Aegon had stuck to its ambition of increasing underlying earnings before tax by between 7 and 10 percent on average over ...

UPDATE 1-HM earnings down more than expected in second quarter

Wed, 19 Jun 2013 02:47:06 -0400

Wed Jun 19, 2013 2:47am EDT * March-May pretax 6.1 bln SEK vs consensus 6.3 bln * Gross margin 61.1 pct, matching consensus * Says June 1-17 local-currency sales +17 pct * Inventories higher than planned end-Q2 * Says situation challenging in many big markets (Adds detail, background) STOCKHOLM, June 19 (Reuters) - H&M, the world's second-largest fashion retailer, posted a bigger than ...

Bankroller to roll film

Wed, 19 Jun 2013 02:22:55 -0400

Legendary Entertainment, the company that financed "Man of Steel" and the "Dark Knight" movies, is talking to "everybody" in Hollywood about a new production alliance, including incumbent Warner Bros. The company, led by founder and Chief Executive Officer Thomas Tull, expects to reach a decision in 60 days, the CEO said yesterday in a meeting with reporters. The ...

Rupert Murdochs hived-off newspaper company makes ASX debut

Wed, 19 Jun 2013 02:17:59 -0400

News Corporation’s split into two companies resulted in a debut share price of $15 for its publishing division, which encompasses many of Australia’s newspapers, but it began falling almost immediately. The media corporation has divided into New News Corp (NNC) and 21st Century Fox, with the latter still trading as News Corporation (NWS). NNC was valued at $15.00 per share as it ...

Bankers guilty of reckless misconduct should be jailed -- UK report

Wed, 19 Jun 2013 02:17:27 -0400

US Treasury Secretary Upgrades Signature

Wed, 19 Jun 2013 02:07:59 -0400

US Treasury Secretary Jacob Lew has upgraded his famously squiggly signature. Mr Lew's new John Hancock - which will be stamped on all newly printed paper bills - was unveiled by the Treasury Department on Tuesday. It is a marked improvement from the loopy scribble made public a few months ago when he took the post in President Barack Obama's ...

US intelligence director defends surveillance program says plot against Wall Street thwarted

Wed, 19 Jun 2013 01:58:40 -0400

WASHINGTON - The U.S. foiled a plot to bomb the New York Stock Exchange because of the sweeping surveillance programs at the heart of a debate over national security and personal privacy, officials said Tuesday at a rare open hearing on intelligence led by lawmakers sympathetic to the spying. The House Intelligence Committee hearing provided a venue for officials to defend the once-secret ...

Fed seen keeping options open on pace of bond buying

Wed, 19 Jun 2013 01:24:20 -0400

Reuters © Federal Reserve Board Chairman Ben Bernanke testifies before the Joint Economic Committee in Washington in this May 22, 2013 file photo. REUTERS/Gary ...

‘Candy’ is dandy IPO at hand-y

Wed, 19 Jun 2013 01:19:25 -0400

The UK-based makers of "Candy Crush Saga" are reportedly planning a sweet deal for investors.King, the online gaming company also known as Midasplayer, has hired bankers and is planning a US public offering, according to a report.The price and timing of the offering have not been determined.The London company has 70 million daily users and its "Candy Crush Saga" is the most ...

Sotheby’s auctions off its headquarters

Wed, 19 Jun 2013 01:19:25 -0400

Going once, going twice, sold - and leased back. At least that’s the plan, we’ve learned, for Sotheby’s current Upper East Side world headquarters. We hear investment sales ...

Dish exits Sprint for Clearwire

Wed, 19 Jun 2013 01:19:25 -0400

Charlie Ergen’s Dish Network said yesterday it would abandon its pursuit of wireless provider Sprint and instead focus on a tender offer for Clearwire. Dish said that it wouldn’t make last night’s deadline to submit a revised offer for Sprint, leaving Japan’s SoftBank as the lone contender to acquire the mobile carrier. That means can Sprint go ahead with a June 25 vote on ...

Stars light up Eden Roc terrace

Wed, 19 Jun 2013 01:19:25 -0400

Proving that Madison Avenue still has much to roar about, the hottest party of the Cannes Lions festival went off in style last night at the Hotel du Cap Eden Roc in Antibes. Stars of the advertising and media industry mingled at sunset on the hotel terrace before being treated to a performance by Michael Buble and the band Fun. The MediaLink and Clear Channel VIP dinner included co-host ...

Police shoot kill man holding child hostage inside Wal-Mart store www.privateofficer.com

Wed, 19 Jun 2013 01:04:22 -0400

-- A man was shot and killed by a Midwest City police officer Monday afternoon after holding a toddler hostage for more than half an hour inside a grocery store, authorities said. No names were released Monday. About 3:10 p.m., a man walked into the dairy section of the Walmart Market, 7520 E Reno Ave., grabbed a 2-year-old girl and held her at knife point, Midwest City Assistant Police Chief ...

Canadian economy may see turn of fortunes in second half of 2013

Wed, 19 Jun 2013 00:55:15 -0400

OTTAWA -- If there is going to be a significant and extended recovery in the global economy, it will need to continue forming in the second half of this year and solidify in ...

Bankroller to roll film

Wed, 19 Jun 2013 00:15:04 -0400

Fresh Prince of W. 15th St.

Wed, 19 Jun 2013 00:15:04 -0400

BETWEEN THE BRICKS The last remaining unfettered development site in the Meatpacking District is going to morph from wood to wow. We’ve learned the Prince Lumber Co. at 61 Ninth Ave., on the southwest corner of West 15th St., will soon relocate to Clinton so its current valuable site can host a brand new 12-story glass office tower.Designed by Kohn Pederson Fox, the swirling glass ...

Let’s make a DELL

Wed, 19 Jun 2013 00:15:03 -0400

Icahn doesn’t know how to quit. The billionaire activist yesterday suddenly switched tactics in his high-stakes bid to upend an effort by Michael Dell and partner Silver Lake Management to take PC maker Dell Inc. private for $24.4 billion.The 77-year-old investor demanded that Dell Inc. launch a $14-a-share tender offer for about 60 percent of the PC maker’s outstanding shares. The ...

Eyes to focus on European economic data Eurogroup meeting and G8 summit

Wed, 19 Jun 2013 00:13:39 -0400

This week, the main focus will be on economic data as investors try to get clues regarding central bank stimulus which rattled markets over the previous few weeks. ‏Meanwhile, we are at an important phase as central banks will decide on their non-standard measures according to the improvement they see at their economies. ...

Wall Street opens higher boosted by New York manufacturing data

Wed, 19 Jun 2013 00:13:37 -0400

U.S. stocks opened broadly higher Monday, as investors awaited Wednesdays Fed policy meeting, with increasing confidence that the Fed wont start tapering in super-easy ...

Wall Street close in green ahead of the Feds meeting tomorrow

Wed, 19 Jun 2013 00:13:37 -0400

U.S. stocks closed higher Tuesday after U.S. housing starts and consumer inflation rose below estimates last month as investors await the end of the Federal Open Market Committee meeting ...

European stocks gain Fed policy outcome in spotlight

Wed, 19 Jun 2013 00:13:36 -0400

European stocks opened higher on Monday, rebounding from last weeks losses as investors were waiting for clues on whether the Federal Reserve might exit its quantitative easing program this ...

European stocks set another weekly loss despite ending higher for the day

Wed, 19 Jun 2013 00:13:36 -0400

European stocks finished modestly higher Friday, yet posting the fourth straight week in losses, looking ahead for U.S. Federal Reserve policy meeting next week. The Stoxx Europe 600 index closed 1.5% lower on the week, with investors worrying a reduction in central liquidity will give financial markets a heavy blow. Investors also looked to the U.S. to gauge if fresh data could strengthen or ...

Asian stocks extend losses as BoJ woes continue to weigh

Wed, 19 Jun 2013 00:13:33 -0400

Asian stocks slid further on Wednesday as Bank of Japan’s (BoJ) latest monetary policy decision revived fears that other central banks, including the U.S. Federal Reserve, could scale back stimulus ...

Asian stocks mixed ahead of Fed meeting

Wed, 19 Jun 2013 00:13:32 -0400

Asian stocks were mixed on Tuesday as caution is rising ahead of the U.S. Federal Reserve two-day convening Tuesday, which might give clues on when the central bank could start tapering monetary stimulus amid recovery ...

Asian stocks jump as Nikkei recovers some losses following strong U.S. data

Wed, 19 Jun 2013 00:13:32 -0400

Asian stocks jumped Friday as strong U.S. data lifted confidence about the ability of the U.S. economy to withstand any cut in stimulus. The upbeat retail sales and jobless claims triggered a rally on Wall Street and soothed the panicking Asian markets ahead of next weeks Federal Reserve policy ...

Bankers Should Face Jail Terms Report Says

Tue, 18 Jun 2013 23:59:37 -0400

A new criminal offence punishing bankers for "reckless misconduct" while running their institutions is the centrepiece of proposals unveiled by a group of MPs and peers aimed at reforming the industry. The Parliamentary Commission on Banking Standards (PCBS), which was set up after last summer's Libor-manipulation scandal led to Barclays being fined £290m, said in its ...

Empire State Building gets left-field $2 billion offer to sell

Tue, 18 Jun 2013 23:55:00 -0400

NEW YORK (Reuters) - A New York City real estate company offered to buy the Empire State Building for $2 billion, a written offer showed, significantly below the skyscraper's appraisal price and about three weeks after investors in the iconic building approved a plan to take the tower public in a real-estate investment ...

GM aims for 10 percent of Chinas luxury car market by 2020

Tue, 18 Jun 2013 23:54:59 -0400

GM.N ) said on Wednesday it aims to quadruple its share of China's luxury auto market to 10 percent by 2020 as the U.S. automaker launches new Cadillac models and expands its distribution network in the world's largest car ...

Asia business sentiment rises in second quarter global growth risk still dominates

Tue, 18 Jun 2013 23:51:19 -0400

SEOUL (Reuters) - Asia's top companies have become more optimistic about their business outlook with the retail and shipping industries rebounding sharply in the second quarter of 2013, the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey ...

Wells Fargo securities lending case goes to trial

Tue, 18 Jun 2013 23:11:47 -0400

A group of 11 jurors will decide whether Wells Fargo & Co. grossly mismanaged a former securities lending program and lied about its safety, or whether the financial calamity that followed the boom was to blame for millions of dollars in ...

Amazon drops blogger affiliates in Minnesota to avoid sales tax

Tue, 18 Jun 2013 23:11:45 -0400

The move, which parallels those by other Internet retailers, is a response to an upcoming change in the state’s tax law that applies to ...

City Deli to get new owner new name

Tue, 18 Jun 2013 23:11:14 -0400

The planned change in ownership was disclosed on Tuesday to the deli's two dozen employees, who were told that the new owners plan to keep them on through the ...

Dish Focuses on Clearwire

Tue, 18 Jun 2013 23:00:42 -0400

SoftBank Corp , which is also trying to buy Sprint. Satellite TV provider Dish said in a statement that it was not practical for it to submit a revised offer by the June 18 deadline imposed by Sprint even though it "continues to see strategic value in a merger with Sprint." ...

What if Wall Street doesnt like what Fed says

Tue, 18 Jun 2013 22:55:58 -0400

One analyst's take: 'We are so screwed' when bond buying eases NEW YORK -- Ever since it began injecting cash into the financial system in 2008, the Federal Reserve has been compared to a drug dealer by critics. The Fed's bond-buying and zero-interest-rate policy, they say, is akin to a performance-enhancing, steroid-like drug with the addictive quality of crack cocaine. ...

REFILE-WRAPUP 1-Asian stocks to lead the way to years end Fed seen pulling back - poll

Tue, 18 Jun 2013 22:36:11 -0400

Member Benefits Manage your personalised Watchlist. Set up an online Virtual Portfolio. Participate in Share Chat. See more trades and director dealings. Play the Fantasy Share Trading ...

Mexican oil producer Pemex evacuates headquarters after bomb threat

Tue, 18 Jun 2013 22:12:19 -0400

MEXICO CITY, June 18 | Tue Jun 18, 2013 10:12pm EDT MEXICO CITY, June 18 (Reuters) - Mexico's state oil producer, Pemex, on Tuesday evacuated its Mexico City headquarters, the site of a deadly explosion in January that killed at least 37 people, after a bomb threat, a company spokesperson said. "In the face of the threat, we're applying security measures at the Pemex tower in ...

Kodak prepares $406 million offering as it eyes bankruptcy exit

Tue, 18 Jun 2013 22:08:17 -0400

on Tuesday said it will seek court approval for a $406 million (259.7 million pounds) rights offering that could give creditors a big equity stake in the company after it emerges from Chapter 11 bankruptcy protection.Kodak said creditors agreed to backstop an offering that would let the Rochester, New York-based company issue 34 million common shares at $11.94 each, equal to about 85 percent of ...

Judge U-T must pay former carriers

Tue, 18 Jun 2013 22:05:38 -0400

U-T San Diego must pay a group of former newspaper carriers $3.18 million because they were classified as independent contractors but given job requirements more appropriate for regular employees, a Superior Court judge said ...

Filner cedes to builder after $100000 gift

Tue, 18 Jun 2013 22:05:37 -0400

Mayor Bob Filner vetoed a builder's request to modify a Kearny Mesa development plan and then later dropped his objection after the company gave $100,000 to the ...

Australian Market Trades Higher On Wall Street Lead

Tue, 18 Jun 2013 22:04:54 -0400

The Australian stock market is trading higher on Wednesday with investors indulging in some brisk buying in mining, energy and industrial stocks, tracking positive cues from Wall Street, where the major averages surged higher overnight on the back of some encouraging economic data.The benchmark S&P/ASX 200 index, which advanced to 4,844.8 in early trades, is currently trading at 4,825, up ...

Why Yellen Should Be Next Fed Chief

Tue, 18 Jun 2013 21:54:40 -0400

Robert Heller, Former Federal Reserve Governor, tells CNBC why he sees Janet Yellen as both the best qualified and the most likely successor to Ben Bernanke if he does leave the Federal Reserve at the end of ...

Whitehaven shares jump as Tinkler cuts stake

Tue, 18 Jun 2013 21:41:37 -0400

WHC.AX ) rose as much as 9 percent on Wednesday after the company's top shareholder, embattled tycoon Nathan Tinkler, offloaded about half his stake to cut his ...

Adobe expects third-quarter Creative Cloud subscriber adds to exceed second-quarter

Tue, 18 Jun 2013 21:41:28 -0400

Shantanu Narayen, president and chief executive officer of Adobe Systems Inc., speaks during the Reuters Global Technology, Media and Telecom Summit in New York May 21, ...

Market Wrap for Tuesday June 18 Stocks Rally Ahead of Fed Statement

Tue, 18 Jun 2013 21:38:31 -0400

Risk appetite was brisk on Wall Street on Tuesday as investors purchased stocks ahead of Wednesday's FOMC statement. The Fed is expected to provide clarity on when it may begin tapering its current $85 billion per month bond buying program. Although there is uncertainty, the market seems to be pricing in the likelihood that the Fed will continue its dovish monetary policy for the foreseeable ...

Interesting Similarities Among 2013s Top-Performing ETFs

Tue, 18 Jun 2013 21:38:31 -0400

With 2013 nearly half complete, now is a good time to look at this year's top-performing ETFs to see what has worked, what might keep working and which funds could be vulnerable to second-half pullbacks. Before getting to the good stuff, some housekeeping is in order. First, 10 ETFs that will be highlighted are all plain vanilla, non-leveraged funds. Second, the list and performance data ...

Dividend ETFs No Need to Pay up For Yield

Tue, 18 Jun 2013 21:38:30 -0400

according to Treasury Department data , but the reality is even at 2.2 percent, the yield on Treasurys is nothing to write home about. Given the still anemic yields on assets that are perceived to be risk-free, it is not surprising that investors have been paying up for higher yields elsewhere. The ongoing hunt for yield has predictably ...

GLOBAL MARKETS-Nikkei outperforms Asian stocks as Fed looms

Tue, 18 Jun 2013 21:02:15 -0400

Tue Jun 18, 2013 11:38pm EDT * Asian stocks softer as Fed outcome awaited * Markets hope for clarity on any pullback in Fed stimulus * Nikkei up as softer yen boosts exporters; currencies mostly steady By Ian Chua SYDNEY, June 19 (Reuters) - Japanese stocks rose on Wednesday, thanks to a positive lead from Wall Street plus a softer yen, outperforming the rest of Asia which anxiously seeks clarity ...

Alexander Why Wi-Fi is speedier than Internet

Tue, 18 Jun 2013 20:58:42 -0400

Q You wrote that any Wi-Fi router you can buy today will be much faster than your Internet connection. Does this mean the wireless router can transmit data faster than my Internet connection can send it? If so, who ...

Statuesque San Diego County

Tue, 18 Jun 2013 20:58:12 -0400

San Diego is home to some wonderful examples of public art. Above, "Magic Carpet Ride" by artist Matthew Antichevich goes through odd transformations, as you'll see in the next slide.Did we forget your ...

Nuclear failure may show limits of computers

Tue, 18 Jun 2013 20:58:12 -0400

View inside one of the San Onofre nuclear power plant's steam generators with the steam dome cut off, looking at the top of the steam bundle. Tubes begin at the opposite end from the viewpoint of this photo, bring hot reactor water up around the tube bend shown in this photo and then end back to the other end where the water returns to the reactor. Thus the tubes are heated. Then a second ...

Tyrie report now lock up the banksters

Tue, 18 Jun 2013 20:50:48 -0400

Banks will hate large chunks of this report, which is fair indication that Andrew Tyrie's commission has understood the industry. Photograph: Felix ...

British banks must do better says standards report

Tue, 18 Jun 2013 20:50:47 -0400

The Parliamentary Commission on Banking Standards report - called Changing Banking for Good - runs to more than 500 pages and is the culmination of a year's work. It cost 850,000 to produce and took evidence from more than 250 witnesses. Its recommendations ...

Honeywell takes to skies with COMAC

Tue, 18 Jun 2013 20:48:06 -0400

/enpproperty--> Honeywell Aerospace, the United States-based aviation parts maker and a major supplier to China's domestic commercial aircraft, the C919, is upbeat about the much-anticipated jet's maiden flight in 2015, a senior executive of the company said. "We are on schedule" with the Commercial Aircraft Corp of China's plan for the first flight, John ...

Major UK Supermarkets Launch New Food Labels

Tue, 18 Jun 2013 20:45:41 -0400

Major supermarkets and food manufacturers are introducing a new labelling system to help people make healthier choices. Until now, businesses had different labels on the front of their products to try to explain the nutritional value of meals and drinks, leading to confusion for customers. This will be replaced by a standardised system across a range of products. "It's a traffic ...

Microsoft says it freed millions of computers worldwide from criminal botnet

Tue, 18 Jun 2013 20:44:46 -0400

said that an assault it led earlier this month on one of the world's biggest cyber crime rings has freed at least 2 million PCs infected with a virus believed to have been used to steal more than US$500 million from bank accounts worldwide. "We definitely have liberated at least 2 million PCs globally. That is a conservative estimate," Richard Domingues Boscovich, assistant general ...

Stimulus Program Is Noise In Economy Gilder

Tue, 18 Jun 2013 20:42:49 -0400

All eyes are on the Fed as they kick off their 2-day meeting. Jon Hilsenrath, WSJ, and George Gilder, author of "Knowledge and Power," discuss what's ahead for Fed Chairman Bernanke, and the U.S. ...

Small Business Economic Uncertainty

Tue, 18 Jun 2013 20:42:48 -0400

Many small businesses are still struggling in this economy. Sen. Bob Casey, Joint Economic Committee (D), and Sen. Susan Collins, Appropriations & Intelligence Committee (R), discuss ways in which small business can be ...

Gilders Knowledge and Power

Tue, 18 Jun 2013 20:42:47 -0400

Texas Gov. Rick Perry will be CNBC's Larry Kudlow's guest on Wednesday night. Also, George Gilder, author of "Knowledge and Power," discusses the gap between knowledge and power, and how to solve the "paralysis of our ...

DuckDuckGo Search Engine Surges 33

Tue, 18 Jun 2013 20:42:46 -0400

Chrysler agrees to recall 1.56 million Jeeps

Tue, 18 Jun 2013 20:42:44 -0400

The NHTSA's concerns over older-model Jeep Grand Cherokees and Libertys has prompted a recall after investigations found a crash from behind could puncture the fuel tank, possibly causing a fire. NBC's Brian Williams ...

Ex-Lockheed official joins board of Norwegian titanium firm

Tue, 18 Jun 2013 20:35:17 -0400

LMT.N ) incoming CEO after having an affair with a subordinate, said he has joined the board of directors of a Norwegian titanium producer that works closely with Spirit AeroSystems Inc ...

United Dreamliner lands safely after possible oil filter problem

Tue, 18 Jun 2013 20:35:17 -0400

SEATTLE (Reuters) - United Airlines said on Tuesday that a Boeing Co 787 on its way to Tokyo from Denver was diverted to Seattle after an indication of a problem with an oil filter, but said the plane landed without ...

Tinkler gives up half of Whitehaven stake to lender

Tue, 18 Jun 2013 20:35:16 -0400

The U.S. fund, Farallon Capital Management picked up a 9.9 percent stake from Tinkler and entities associated with him, taking its holding in Whitehaven to 16.6 percent, it said in a shareholding notice to the Australian stock ...

Vodafone raises Kabel Deutschland offer after rival bid report

Tue, 18 Jun 2013 20:35:16 -0400

The logo of Germany's biggest cable operator, Kabel Deutschland, is written on a door bell at the Kabel Deutschland playout center in Frankfurt February 25, ...

Quake studies cut short by nuke shutdown

Tue, 18 Jun 2013 19:52:20 -0400

The operator of the San Onofre Nuclear Generating Station is likely to scale back a robust slate of earthquake studies as it moves forward with retiring the coastal power ...

We were not leaned on over branch sale says Lloyds

Tue, 18 Jun 2013 19:45:41 -0400

The bosses of Lloyds Banking Group have denied that they were told by politicians to favour the sale of more than 600 branches to the Co-op over rival ...

Banking reform after the crash

Tue, 18 Jun 2013 19:45:05 -0400

Today's parliamentary report on the flaws and failure of banking and banking regulation is nearly 600 pages long and the product of months of work, but it needs to be read in the light of one big fact. At the height of the banking crisis, every man, woman and child in Britain stuck 19,271 each behind the banking sector. According ...

Andrew Tyrie carves out role as inquisitor-in-chief of financial crisis

Tue, 18 Jun 2013 19:45:04 -0400

Andrew Tyrie, a former adviser to Conservative chancellors Nigel Lawson and John Major, joined parliament in 1997. Photograph: Kirsty ...

Pay cuts imposed on top civil servants could lead to exodus of talent – auditor

Tue, 18 Jun 2013 19:45:03 -0400

pay and conditions of senior civil servants have deterred private sector managers from taking up Whitehall jobs and could result in an exodus of talent, the government's independent auditor has warned.A report by the National Audit Office concludes that there are "clear capability gaps" in the ...

Jail threat for reckless bankers among proposals to clean up banking system

Tue, 18 Jun 2013 19:45:02 -0400

George Osborne is facing pressure to radically overhaul Britain's banks by introducing a new law to jail bankers for "reckless misconduct" and force bankers to wait up to 10 years to receive their bonuses.The proposals, among the key measures recommended in a major report by the parliamentary commission on banking standards, also include a call on him to consider breaking up the ...

Jo Swinson proposes streamlined appeals system for businesses

Tue, 18 Jun 2013 19:45:01 -0400

regulators from introducing consumer-friendly measures will be curbed under proposals published by the government on Wednesday.The Business minister, Jo Swinson, is proposing a streamlined appeals system for challenging decisions by the UK's economic regulators, which ...

Food packaging traffic lights to signal healthy choices on salt fat and sugar

Tue, 18 Jun 2013 19:45:00 -0400

Research found consumers ignored food labels when more than one system was used, such as traffic lights and guideline daily amounts. Photo: Press ...

Microsoft Dynamics ERP software now available on the Azure cloud

Tue, 18 Jun 2013 19:42:36 -0400

IDG News Service - Microsoft is upping the stakes in the growing market for cloud-based ERP, with its Dynamics GP 2013 and NAV 2013 products now available for deployment on its Azure service. The launch, announced Tuesday, gives customers another option for cloud-based ERP (enterprise resource planning) services besides NetSuite, SAP Business ByDesign and others. It's a bit late in coming, ...

Fed May Not Be Able to Tame Volatile Trading

Tue, 18 Jun 2013 19:42:24 -0400

"That's how I see it. Tomorrow is dangerous," said Art Cashin, director of NYSE floor operations at UBS. Financial markets always watch the Fed, and they always hang on every word of Fed policy. But the Fed's ...

Thomas Jackson Judge who tried to split up Microsoft

Tue, 18 Jun 2013 19:33:27 -0400

Thomas Penfield Jackson, who died of cancer on 16 June at the age of 76, was a federal judge in Washington who presided over a Microsoft antitrust case and ordered the software giant to be split up. He also presided over the the drug possession trial of the former Mayor of Washington, Marion ...

REFILE-PM Abe says G8 welcomed Japans economic policies

Tue, 18 Jun 2013 19:30:06 -0400

BELFAST, June 18 (Reuters) - Japanese Prime Minister Shinzo Abe said on Tuesday G8 leaders expressed strong support for his "Abenomics" economic policies and he has heard no concerns about Japan's radical monetary ...

UKs Osborne to unveil future of state-controlled banks

Tue, 18 Jun 2013 19:30:03 -0400

Britain's Chancellor of the Exchequer George Osborne speaks at the Confederation of British Industry (CBI) annual dinner in London May 15, ...

Dolce and Gabbana face verdict on alleged tax evasion

Tue, 18 Jun 2013 19:30:02 -0400

MILAN (Reuters) - An Italian court is expected to rule on Wednesday on whether legendary fashion duo Domenico Dolce and Stefano Gabbana should be sent to prison for allegedly hiding hundreds of millions of euros from the tax ...

The equity markets have been in a seesaw recently

Tue, 18 Jun 2013 19:27:38 -0400

The appetite for risk improved cautiously in the US on Tuesday, as the market hunted for clues from the Fed meeting ending Wednesday. The equity markets have been in a seesaw recently while trying to gauge the Fed's pace of tempering its quantitative easing.The foreign currencies ended divergently again on Tuesday. Euro and franc ended higher, and the yen, pound and the commodity currencies ...

Fewer Canadian businesses forecasting more losses Conference Board

Tue, 18 Jun 2013 19:26:05 -0400

OTTAWA -- Many Canadian businesses are still struggling to turn a profit, although fewer are forecasting more losses, according to the Conference Board of Canada. The Ottawa-based think-tank said Tuesday its profitability index rose by 0.1 points in May -- the smallest increase in nine months. The board said profit increases, while meager, are being supported by "stronger performances in ...