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Canada threatens to retaliate against change in US meat labeling rules

Thu, 23 May 2013 16:33:00 -0400

OTTAWA - Canada has threatened "retaliatory measures" against the United States move changing the so-called country of origin labeling that would track beef and hogs through the meat processing and distribution systems, stating that it is discriminatory, a view shared by the World Trade Organisation. On Thursday, the United States Department of Agriculture issued a final modification to its ...

After breaches Twitter beefs up security with two-step login

Thu, 23 May 2013 17:11:08 -0400

NEW YORK - Aiming to tackle recent high-profile breaches, popular micro-blogging site Twitter is introducing an optional two-step login for users to beef up security. The new system would try to ensure "it's really you" when a user signs in to Twitter, which transmits some 400 million messages a day. The move follows recent attacks into the twitter accounts of news organisations' such as ...

Irish biotech firm Elan rejects revised Royalty Pharma bid

Thu, 23 May 2013 17:52:46 -0400

DUBLIN/ WASHINGTON Ireland-based biotechnology firm Elan Thursday rejected Royalty Pharma's increased $6.4 billion takeover bid, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one share. Royalty raised its hostile cash bid to $12.50 per share on Monday, from $11.25 previously, but made the new offer conditional on Elan shareholders rejecting, at a ...

Import alert by USFDA hits Wockhardt shares

Thu, 23 May 2013 16:26:11 -0400

MUMBAI - Shares of Wockhardt, one of the leading Indian pharmaceutical and biotechnology companies, witnessed a sharp fall of 20% to Rs. 1,315 ($23.61) on the Bombay Stock Exchange(BSE) on Thursday after the US FDA published an import alert on one of its three manufacturing facilities near Aurangabad. The import alert, 'detention without physical examination of drugs from firms which have ...

Ford Motor to shutdown 2 units in Australia

Thu, 23 May 2013 16:26:07 -0400

MELBOURNE - Ford Motor Company Wednesday announced plans of closing its local manufacturing operations in Broadmeadows and Geelong in October 2016 thereby forcing 1,200 people out of work. Spelling the end of the iconic Ford Falcon in the country, Ford Australia president Bob Graziano announced that the carmaker would shut its Victorian facilities in October 2016, bringing an end to nearly ...

IMF warns UK against continuing austerity programme

Wed, 22 May 2013 15:53:31 -0400

LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...

Chidambaram says U.S. Federal Reserves statement misunderstood calls for calm

Thu, 23 May 2013 09:00:01 -0400

Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves. Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor ...

Immigration Bill Could Create DMZ

Fri, 24 May 2013 08:04:27 -0400

Immigration reform took a big step when a bipartisan bill passed through the Senate Judiciary Committee this week. The 844-page measure--which also gained the endorsement of a group of pro-business economists--goes to the full Senate for consideration. While traditionally pro-immigration analysts and business interests applaud the effort, the current measure as it stands has set off alarms over ...

Judge Favors US in Apple E-Books Case

Fri, 24 May 2013 08:04:26 -0400

Apple engaged in a conspiracy with publishers to increase e-book prices.U.S. District Judge Denise Cote, who is set to oversee a trial on June 3, gave her view during a pretrial hearing on Thursday.While she stressed that the view was not final and that she had read only some of the evidence so far, her comments could add to pressure on Apple to settle the lawsuit, in which the Justice Department ...

Tory MP Garnier Challenges Barclays Reforms

Fri, 24 May 2013 07:56:26 -0400

A member of the Parliamentary Commission on Banking Standards has launched a blistering attack on Barclays' efforts to rehabilitate its reputation under its new chief executive, Antony Jenkins. In comments to Sky News, Mark Garnier, a Conservative MP whose earlier career included a stint as an investment banker, said the bank was failing to deliver on a pledge to become a more ...

New PG CEO to get base salary of $2 million

Fri, 24 May 2013 07:52:05 -0400

Former Chairman of the Board, President and Chief Executive Officer of Procter & Gamble A.G. Lafley speaks during the World Business Forum in New York October 6, ...

Global shares steady but stimulus fears still present

Fri, 24 May 2013 07:52:04 -0400

LONDON (Reuters) - World share markets looked vulnerable to further falls on Friday, with better economic news from Europe doing little to encourage investors who are worried that central bank stimulus may ...

Abercrombie shares slide after earnings disappoint

Fri, 24 May 2013 07:49:51 -0400

+0.48% reported a first-quarter loss of $7.2 million, or $0.09 a share, narrower than the loss of $21.3 million, or $0.25 a share, a year earlier. Revenue fell 9% to $838.8 million, from $921.2 million a year earlier, the retailer said Friday. Analysts had expected a loss of $0.05 a share on revenue of $938 million, according to FactSet. The retailer said it expects second-quarter EPS of $0.28 to ...

EU to Restrict 3 Pesticides Suspected of Killing Bees

Fri, 24 May 2013 07:48:57 -0400

European Union authorities Friday announced broad restrictions on three insecticides suspected of causing mass bee deaths.The insecticides--clothianidin and imidacloprid, made mainly by German chemical giant Bayer AG (BAYN.XE), and thiamethoxam, made by Syngenta (SYNN.VX)--will be restricted for use on crops and seeds that attract bees. The crops include corn, cereals, sunflower and oilseed ...

European Shares Slump Amid C-Bank Worries

Fri, 24 May 2013 07:48:56 -0400

World share markets looked vulnerable to further falls on Friday, with better economic news from Europe doing little to encourage investors who are worried that central bank stimulus may curtailed. MSCI's world equity index, which shed 1.4 percent for its second biggest daily loss of the year on Thursday, was virtually unchanged, with losses in Europe cancelling out a rise of nearly one ...

Cathay Financial to Sell up to 400 Million Shares in Rights Issue

Fri, 24 May 2013 07:48:56 -0400

Cathay Financial Holdings Co. (2882.TW) said Friday that it plans to sell up to 400 million shares in a rights issue and estimates the transaction to be completed by the third quarter, pending regulatory approval.In a statement, the company said the purpose of the sale is to inject fresh capital into its banking unit.Cathay, the biggest financial conglomerate by listed assets in Taiwan, is one of ...

HSBC Actively Supporting Regulators to Improve Financial Stability

Fri, 24 May 2013 07:48:55 -0400

Financial services company HSBC Holdings PLC (HSBA.LN) Friday said it is actively supporting governments and regulators to improve financial stability, and reaffrirmed its expectation to generate a further $2 billion to $3 billion in savings over the next three years.MAIN FACTS:-Continues to manage costs and streamline processes and procedures.-Refined cost efficiency target to focus on ensuring ...

EUROPE MARKETS Europe Stocks Rebound After German Ifo Data

Fri, 24 May 2013 07:48:55 -0400

LONDON – European stock markets climbed on Friday, partly recovering from a sharp selloff the prior day, after better-than-expected German business confidence data signaled a brighter future for Europe's largest economy.The Stoxx Europe 600 index rose 0.1% to 304.17, after sinking 2.1% on Thursday.Shares of Assicurazioni Generali SpA put on 1.4%, after J.P. Morgan Cazenove raised the ...

Online learning gets fresh look from a heavyweight

Fri, 24 May 2013 07:46:16 -0400

digital badges want to know. So far, these institutions have gotten away with their leave-us-alone position, but hungry high-tech entrepreneurs and venture capitalists have trained their sites on the college classroom. An online learning revolution? A potentially revolutionary change that has garnered the most interest is online education. The biggest gorilla in this space are the MOOCs, ...

How to take a serious bite out of corporate tax avoidance | Prem Sikka

Fri, 24 May 2013 07:13:54 -0400

gnash their teeth and the corporate merry-go-round continues.It is time to completely revamp the global corporate tax system and I've got an ...

Standard Chartered defends loan book quality while HSBC slips on US worries

Fri, 24 May 2013 07:13:52 -0400

worries about its loan book. The Asia-focused bank was hit by reports that Carson Block of China specialist Muddy Waters had shorted its debt because he was concerned about loan quality, which he said could come under stress when the Chinese economy slowed down.But the bank's chief executive Peter Sands said its appetite for lending had not changed and its loan book was in good condition. As ...

Markets German business confidence up in May for first time since February

Fri, 24 May 2013 07:13:26 -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 ...

U.S. ITC wont ban Microsofts Xbox as Google requests

Fri, 24 May 2013 07:11:18 -0400

IDG News Service - The U.S. International Trade Commission has turned down a request for a ban on Microsoft's Xbox after finding that the gaming device did not infringe a patent owned by Google's Motorola Mobility unit. The ITC's ruling Thursday has essentially confirmed an initial ruling by administrative law judge David P. Shaw in March that the Xbox did not infringe a Motorola ...

Bank’s Lobbyists Help in Drafting Bills

Fri, 24 May 2013 07:11:11 -0400

WASHINGTON -- Bank lobbyists are not leaving it to lawmakers to draft legislation that softens financial regulations. Instead, the lobbyists are helping to write it themselves. One bill that sailed through the House Financial Services Committee this month -- over the objections of the Treasury Department -- was ...

UK Was Six Hours From Running Out Of Gas

Fri, 24 May 2013 07:03:36 -0400

Britain was six hours from running out of gas in March, it has been reported. High demand during record cold temperatures during the month combined with a pipeline fault to drive stores of gas "dangerously low", the Crown Estate said. But National Grid, which pipes gas around the UK, insisted the nation has "substantial resilience" and diverse supply sources, including ...

European stock markets steadier after sharp losses

Fri, 24 May 2013 07:03:10 -0400

European stock markets rebounded modestly at the start of trading on Friday following sharp losses suffered the previous day. London's benchmark FTSE 100 index rose 0.23 percent to 6,712.15 points, Frankfurt's DAX 30 gained 0.46 percent to 8,390.16 points and in Paris the CAC 40 climbed 0.36 percent to 3,981.27. European stock markets had slumped on Thursday, with most indices ...

StanCharts Sands says Muddy Waters debt bet misplaced

Fri, 24 May 2013 06:59:26 -0400

STAN.L ) chief executive Peter Sands denied U.S. activist investor Muddy Waters' claim that the bank has taken on too much risk, saying its loan book was in a good condition and there is no change in risk appetite for ...

Academics back BPs fight to cap oil spill payouts

Fri, 24 May 2013 06:59:25 -0400

BP.L ) fight to cap the U.S. oil spill compensation payouts it has to fund as the cash outflow threatens to add billions of dollars to its bill for the ...

HSBC urges acceleration of banking reform

Fri, 24 May 2013 06:59:25 -0400

HSBA.L ) Chairman Douglas Flint said on Friday the pace of reform in the banking industry must be accelerated to avoid investor confidence in the sector being ...

BRIEF-Cadiz sees FY earnings of 2.2 cents per share

Fri, 24 May 2013 06:21:51 -0400

JOHANNESBURG | Fri May 24, 2013 6:21am EDT JOHANNESBURG May 24 (Reuters) - Cadiz Holdings Ltd : * FY basic and diluted earnings and headline earnings are expected to be 2.2 cents per ...

Europe needs a more European UK says ECB president

Fri, 24 May 2013 06:21:43 -0400

European Central Bank , has called for the UK to be "more European" and said the continent's key institutions could face dissolution if the UK leaves ...

As FTSE 100 slides again market historian says large falls becoming more frequent

Fri, 24 May 2013 06:21:23 -0400

is not that unusual, but they have become more frequent in recent years.On Thursday the leading index dropped 2.1%, its biggest daily percentage fall for a year, as investors fretted about a possible end to quantitative easing, especially in the US, and an economic slowdown after disappointing Chinese factory data.But stock market historian David Schwartz has been crunching the numbers and come ...

Co-operative Bank stops offering new loans to businesses

Fri, 24 May 2013 06:21:21 -0400

Co-operative Group could retrench from some parts of the financial services industry - at least temporarily - emerged on Friday when its banking arm pulled out of offering new loans to business clients.Ever since the mutual's banking arm ...

Media Talk podcast Woolwich attack coverage and Boris ban lifted

Fri, 24 May 2013 06:21:20 -0400

John Plunkett digests the week's media news with Roy Greenslade, Helen Zaltzman and Paul Robinson. Plus, Rebecca Nicholson celebrates a return to form for Mad ...

Friday Newspaper Review - - Irish Business News - - May 24 2013

Fri, 24 May 2013 06:20:53 -0400

Lessons China and Brazil Can Teach Each Other

Fri, 24 May 2013 06:18:53 -0400

"Brazil in essence needs to become more like China, with its investment growth, and China needs to learn from Brazil in how to support consumer spending," said Capital Economics' chief emerging markets economist, Neil Shearing, in a ...

UK Three Quarters Through Clearing Debt

Fri, 24 May 2013 06:10:46 -0400

Britain may be as much as three quarters of the way through working off the high levels of debt that have stifled growth since the financial crisis began, a senior Bank of England (BoE) policymaker has said. Paul Fisher, BoE Executive Director for Markets, said national growth would remain weak across both the private and public sectors until debt levels were brought under control. "In ...

Three mainland Chinese charged in HK mercantile exchange probe

Fri, 24 May 2013 06:10:29 -0400

View Photo A security guard stands at the entrance as an office worker walks inside the Hong Kong Mercantile Exchange in Hong Kong May 23, 2013. REUTERS/Bobby ...

Youre in their pockets High Court row over valuation in General Electric planes deal with Lebedev-controlled Blue Wings airline

Fri, 24 May 2013 06:09:51 -0400

One of the world's biggest aircraft valuers was accused in the High Court of being in the pockets of General Electric's vast GECAS commercial aeroplane leasing ...

Truck strike may have caused Washington state bridge collapse officials says

Fri, 24 May 2013 06:07:03 -0400

OLYMPIA, Washington (Reuters) - A colliding truck may have triggered the collapse on Thursday of part of a four-lane freeway bridge that sent vehicles and drivers tumbling into a frigid river in Washington state, officials ...

Bank of Englands Fisher says does not want U.S.-style QE pledge

Fri, 24 May 2013 06:06:33 -0400

CARDIFF (Reuters) - A Bank of England policymaker said on Friday he favored small additional amounts of bond purchases over time, but not a hard-to-manage commitment to longer-term stimulus like that of the U.S. Federal ...

Handelsbanken Completes Heartwood Acquisition in UK

Fri, 24 May 2013 06:04:01 -0400

Swedish bank Svenska Handelsbanken AB (SHB-B.SK) Friday said it is completing its acquisition of British wealth management firm Heartwood Wealth Group Ltd. as it has now received permission from the British financial supervisory authority.MAIN FACTS:-Handelsbanken announced the agreement to acquire Heartwood on February 6.-Heartwood has around 90 employees and conducts discretionary management ...

UK Firms Consumers Pay Down Debt Again In April

Fri, 24 May 2013 06:04:01 -0400

U.K. businesses and home owners continued to pay down debt in April, as confidence remains subdued despite a range of government policies to boost lending, a survey showed Friday.Data from the British Bankers Association showed non-financial U.K. businesses made a net repayment of 2.0 billion pounds ($3 billion) in April. In March they repaid GBP0.8 billion.Collectively, households also repaid ...

European stock markets recover slightly at open

Fri, 24 May 2013 05:58:19 -0400

LONDON (AFP) - European stock markets rebounded modestly at the start of trading on Friday following sharp losses suffered the previous day.London's benchmark FTSE 100 index rose 0.23 percent to 6,712.15 points, Frankfurt's DAX 30 gained 0.46 percent to 8,390.16 points and in Paris the CAC 40 climbed 0.36 percent to 3,981.27.European stock markets had slumped on Thursday, with most ...

Denny Hamlin takes Coca-Cola 600 pole with record lap

Fri, 24 May 2013 05:20:14 -0400

(AP Photo/Mike McCarn) Denny Hamlin climbs from his car after qualifying for Sunday's NASCAR Sprint Cup series Coca-Cola 600 auto race at Charlotte Motor Speedway in Concord, N.C., Thursday, May 23, 2013. Hamlin won the pole position for the ...

Global stock markets fall after 7 percent collapse in Japan’s Nikkei index

Fri, 24 May 2013 05:19:47 -0400

Stock markets posted significant losses worldwide, led by a one-day 7.3 percent drop in Japan's Nikkei stock index, amid signs of a growing global slump and demands for increasing attacks on the working class in Japan.The Nikkei fell 1,143 points to 14,483.98, after which major indices across Europe and Asia all fell two percent or more. The Sydney stock market fell two percent to 5062, and ...

Caterpillar CEO defends wage-cutting

Fri, 24 May 2013 05:19:44 -0400

expressing the logic behind the merciless drive for ever higher profits by the ruling class both in the United States and internationally. Since 2010, when he became CEO, Oberhelman has overseen a ruthless campaign to reduce workers' wages and dramatically increase corporate profits. This has included the lockout of workers in London, Ontario and the shutdown of their plant after because ...

Market turbulence poses first serious test for Abenomics

Fri, 24 May 2013 05:17:59 -0400

By William MallardTOKYO (Reuters) - This week's turbulence in Tokyo markets exposes a key risk of Prime Minister Shinzo Abe's all-in strategy to revive Japan's economy - if investor confidence falters, the government and the Bank of Japan may be left with few options to turn the tide.On Friday, the Nikkei share average had another tumultuous session, traversing a 7.1 percent range ...

Demand is soaring for Apple’s first product

Fri, 24 May 2013 05:15:26 -0400

The sky-high prices suggest irrational exuberance. But technology historians say there is a rational appeal to possessing an Apple-1. "It is Apple’s creation story, the physical artifact that traces this incredible success to its origins," said Spicer, a senior curator at the Computer History Museum in Mountain View, ...

Minnesota to get stricter law on home foreclosures

Fri, 24 May 2013 05:15:24 -0400

Backers hope the state's new Homeowners' Bill of Rights will reduce foreclosures in Minnesota, which, more than six years into the crisis, have been declining but remain stubbornly ...

Delta sees SP 500 in reach as rebound boosts credit ratings

Fri, 24 May 2013 05:15:23 -0400

Richard Anderson, CEO of Delta Air Lines, answers questions at a news conference to discuss the planned merger with Northwest Airlines on Tuesday, April 15, 2008 in New ...

Fed sees fierce competition among banks

Fri, 24 May 2013 05:15:22 -0400

Minnesota's community bankers are reporting "exceptionally fierce" competition for commercial loans, according to the local branch of the Federal ...

Twin Cities market for office buildings picks up

Fri, 24 May 2013 05:15:21 -0400

The market for signature office buildings in the Twin Cities has flourished in recent weeks, with large companies pursuing deals to sell, expand or ...

Stricter U.S. labeling rule on meat imports may cost $192 million

Fri, 24 May 2013 05:15:20 -0400

WASHINGTON - The United States tightened country-of-origin labeling provisions to specify where animals are born, raised and slaughtered after the World Trade Organization backed complaints from Canada and Mexico that challenged the policy. The rule also bans the mingling of meat cuts of commodities from different nations, according to U.S. Department of Agriculture regulation to be published ...

Walmart rolls out initiative to hire veterans

Fri, 24 May 2013 05:14:50 -0400

Walmart veteran associates Allan Armstrong and Pablo Ceniceros pose with Commanding Officer Scott Adams, Naval Base Point Loma at a community-wide event held on Saturday, May 18 to honor veterans and those currently ...

It bytes Google rivals demand FTC ad probe

Fri, 24 May 2013 05:11:35 -0400

Google is back on the radar of federal regulators.The Federal Trade Commission has opened a preliminary probe after, sources said, rivals complained about its display ad business.The FTC, which earlier this year cleared Google of any wrongdoing in its search business, is now being asked to look at how the search giant sells display ads, sources familiar with the inquiry said.The sources stressed ...

Icahn’s bank is in the Dell

Fri, 24 May 2013 05:11:34 -0400

Carl Icahn has hired investment bank Jefferies to help fund a planned recapitalization of computer giant Dell Inc.The billionaire financier (pictured) is said to have reached out to banks as part of an effort to raise as much as $5 billion to fund a restructuring of the Round Rock, Texas-based PC maker founded by 48-year old Michael Dell in his college dorm. Icahn’s proposal would serve as ...

Profit fills Gap in Q1

Fri, 24 May 2013 05:11:34 -0400

Gap Inc. reported a higher first-quarter profit on Thursday, helped by a rise in same-store sales at its Old Navy and namesake chains, and growth in Asia.Gap has staged a comeback in the last few years, offering hipper fashions that have found favor again with shoppers that in the interim had flocked to Zara parent Inditex and homegrown competitors such as Forever21.The company, which also owns ...

Mojo’s back for Ackman PG chief departs

Fri, 24 May 2013 05:11:34 -0400

Bill Ackman still has clout.Procter & Gamble - one of Ackman’s top investments - said last night that CEO Bob McDonald would leave the company this summer, to be replaced by former CEO A.G. Lafley.Just two weeks ago, Ackman said at the Ira Sohn investment conference that if McDonald couldn’t fix the company soon, he would have to go.Still battered by his debacle at JCPenney and ...

Targeting Visa MC

Fri, 24 May 2013 05:11:34 -0400

Target, Macy’s and 15 other retailers sued Visa and MasterCard over credit- and debit-card fees after exiting a proposed $7.25 billion settlement of a similar case, alleging it gave the firms too much leeway to raise future rates. The card firms restrained competition for interchange fees by setting default rates and imposing almost identical rules for accepting cards, the retailers said ...

Galaxy star-ship is flying

Fri, 24 May 2013 05:11:33 -0400

Samsung says it is shipping Galaxy phones at a record clip.The latest Galaxy S4 has been in stores for a month, and Samsung said it’s moved 10 million of the devices. It first started selling at AT&T and T-Mobile last month, but hit Verizon stores yesterday.Verizon representatives reported its stores had lines for Samsung’s flagship phone. The HTC One, another recent mobile ...

3 SAC execs subpoenaed

Fri, 24 May 2013 05:11:33 -0400

Three senior executives at Steven Cohen’s SAC Capital Advisors have received subpoenas as part of the US multi-year probe into insider trading at the hedge fund. Subpoenas were sent to Tom Conheeney, president of SAC; Steve Kessler, head of compliance; and Phillipp Villhauer, head trader, a source ...

Tweet this Ads aimed at users

Fri, 24 May 2013 05:11:33 -0400

Twitter plans to release a tool that makes it easier for advertisers to find their customers who also use the social-messaging service, according to three people familiar with the matter.The feature will let marketers use e-mail addresses to identify and target Twitter users who match up with a company’s own customer lists, said the people, who asked not to be identified because the plan is ...

Pandora hits $128M high note

Fri, 24 May 2013 05:11:32 -0400

Pandora Media said first-quarter revenue grew 58 percent, to $128.5 million, thanks to mobile advertising and new subscribers to the online streaming music service.Pandora also said mobile revenue nearly doubled, to $83.9 million."The mobile cap they put in place appears to be working - it’s driving lower content costs and additional subscribers," said Aaron Kessler, an analyst ...

Reborn Goldman links pay reputation

Fri, 24 May 2013 05:11:32 -0400

Lloyd Blankfein can get back to doing "God’s work."The Goldman Sachs boss said the investment bank is a better place after completing a three-year overhaul of its business practices. Blankfein, speaking at the firm’s annual meeting in Salt Lake City, Utah, yesterday, touted the steps the bank has taken to improve client relationships and avoid the conflicts of interest that ...

Tongaat Hulett earnings rise

Fri, 24 May 2013 05:07:50 -0400

Johannesburg - South Africa's Tongaat Hulett reported a 15-percent rise in full-year earnings on Friday as sugar production rose and said it expected further growth in the year ...

Microsoft Introduces Xbox One an All-in-1 Home Entertainment System

Fri, 24 May 2013 05:07:49 -0400

According to a release, at Microsoft headquarters in Redmond, Wash., the company showcased how Xbox One puts the user at the center of games, TV, movies, music, sports and Skype. "Xbox One is designed to deliver a whole new generation of blockbuster games, television and entertainment in a powerful, all- in-one device," said Don Mattrick, president, Interactive Entertainment Business ...

Emerging markets perk up earnings

Fri, 24 May 2013 05:07:48 -0400

SABMiller’s shares shed R12.15 to close at R496.50 yesterday following the release of results for the year to March that showed revenue and adjusted earnings growth in line with market expectations. The 2.3 percent drop in the share reflected general weakness in the market and a neutral response to the ...

Angola to start bond market this year

Fri, 24 May 2013 05:07:44 -0400

Angola planned to start a publicly traded bond market in the third quarter as it sought to boost investment, Archer Mangueira, the president of the country’s Capital Markets Commission, said ...

Next leads fallers after downgrade as FTSE edges lower

Fri, 24 May 2013 05:06:25 -0400

After volatile trading in Japan ended with the Nikkei ending marginally higher, leading UK shares are also struggling for direction.With the leading index just a few points ...

Reuters says Apple had Irish tax holiday from the start in 1980

Fri, 24 May 2013 05:05:59 -0400

Reuters says Apple had Irish tax holiday from the start in 1980 By Michael Hennigan, Finfacts founder and editor May 24, 2013 - 9:43 AM ...

Feds Bullard Wants Faster Inflation Before Tapering QE

Fri, 24 May 2013 05:03:43 -0400

Inflation is the U.S. data "wild card" and needs to move closer to target before the Federal Reserve shifts towards a tapering of its bond purchase program, St. Louis Federal Reserve Bank President James Bullard told CNBC on Friday. "One wildcard for the data in the U.S. is inflation. Numbers have come in quite low. Inflation has been, by our preferred measures been about 1 percent ...

London Markets U.K. stocks wobble as miners banks decline

Fri, 24 May 2013 04:49:59 -0400

LONDON (MarketWatch) -- U.K.'s FTSE 100 index slipped on Friday, with mining firms adding pressure as metals prices turned south and with banks building to the prior day's ...

Meat labels getting facelift under new USDA rules

Fri, 24 May 2013 04:47:07 -0400

MILWAUKEE Shoppers in the U.S. will soon have more information about where their meat comes from, due to new federal labeling rules that went into effect Thursday. The rules require labels on steaks, ribs and other cuts of meat to say where the animal was born, raised and slaughtered. Earlier U.S. Department of Agriculture rules only required that countries of origin to be noted, so a package ...

What Central Banks Can Learn From Volatility

Fri, 24 May 2013 04:12:55 -0400

If there's one thing the world's central bankers can take away from this week's market volatility, it is that they need to do a better job of communicating, say market watchers. The latest comments from the U.S. Federal Reserve about tapering its stimulus program and uncertainty about the implications of the Bank of Japan's radical monetary policy have sent markets on a ...

Dealers Hope Memorial Day Sparks Car Sales

Fri, 24 May 2013 04:12:55 -0400

After taking a pause in March and April, auto sales appear relatively strong for the month of May. Whether or not the industry ends May with the best monthly sales rate since January depends largely on whether or not dealers enjoy strong business Memorial Day Weekend. If it sales are strong, dealers believe it could signal the start of greater demand in the second half of the year. Analyst Adam ...

By taking on Apple Microsoft marketing finally nails it

Fri, 24 May 2013 04:11:13 -0400

I'd still like to see Microsoft focus more specifically on features of these products that make them better than the competition. Take the Surface commercials for example. I absolutely loved the way Microsoft first introduced us to the product: remember the commercial with the dancing school girls? Loved it. And now the company is running a slightly different twist on that with dancing ...

Europe Markets Europe stocks recoup ahead of German Ifo data

Fri, 24 May 2013 03:58:41 -0400

LONDON (MarketWatch) -- European stock markets climbed on Friday, partly recovering from a sharp selloff the prior day, with investors awaiting a reading on German business confidence to gauge if the region's powerhouse is gaining ...

Asia Markets Japan stocks end up after roller-coaster ride

Fri, 24 May 2013 03:58:37 -0400

HONG KONG (MarketWatch) -- Japanese shares ended modestly higher Friday after a roller-coaster ride that subjected the Nikkei Stock Average to a swing of more than 3% on both sides of the previous day's ...

Feds Bullard wants inflation pickup before tapering QE

Fri, 24 May 2013 03:52:52 -0400

inflation would have to pick up before he voted to scale back monetary policy stimulus and that this was unlikely to happen in the coming month. "Before I would be in favour of tapering I would like to see some reassurance that inflation was going to move back towards target," St. Louis Fed President James Bullard said in an interview. "I am concerned about this inflation number ...

Bank of England MPC member warns UK faces years of weak growth | Larry Elliott

Fri, 24 May 2013 03:23:55 -0400

MPC member Paul Fisher said UK workers had shown a 'quite remarkable' willingness to agree to cuts in real wages. Photograph: Bloomberg via Getty ...

Finding an appropriate and affordable premises for your business

Fri, 24 May 2013 03:23:53 -0400

One of the major issues for growing businesses can be finding the right accommodation. As a business grows, space can become inefficient. However, the move to bigger premises can be costly and daunting, particularly if time and money are tight.Aside from the expense, sourcing the right workspace is not a simple task. Finding the perfect place for your business objectives can be a big job and can ...

Untapped markets are the key to unlocking social enterprise investment

Fri, 24 May 2013 03:23:52 -0400

Salisbury Plain, one of the MoD's training areas, is managed by the company Landmarc which is looking to 'buy social and local'. Photograph: Leon Neal/AFP/Getty ...

Why are co-operatives such popular places to work

Fri, 24 May 2013 03:23:51 -0400

, it is sometimes easy for employees to forget their co-op privileges. She says: "Five years ago, we found from surveys conducted amongst our 10,000 employees [or "colleagues," as they are known] that we'd really been a victim of our own success. Lots of colleagues stay in the company for their entire careers, and don't realise that other companies don't operate in ...

EU to force country-by-country tax transparency on big companies

Fri, 24 May 2013 03:23:27 -0400

Big companies operating in the European Union (EU), beginning with banks, will be forced to provide breakdowns of tax paid country-by-country according to regulations being drafted by Michel Barnier, European commissioner for the internal market and financial ...

Its a Big Moment for Japan Feds Bullard

Fri, 24 May 2013 03:20:49 -0400

The huge volatility in the Japanese market is not surprising given the aggressive monetary policies put in place in the country over the last six months, St Louis Federal Reserve Chairman James Bullard told CNBC. "I wouldn't be surprised with that kind of action over that kind of timeframe that you're going to get some volatility," Bullard said Friday. The policy, which ...

Private consumption helps Germany to meager growth in Q1

Fri, 24 May 2013 03:07:58 -0400

Berlin (Reuters) - Private consumption helped Germany eke out meager economic growth of 0.1 in the first quarter of the year, compensating for declines in exports and investment in Europe's largest economy, data showed on ...

Futures Movers Oil futures below $94 on track for weekly loss

Fri, 24 May 2013 03:06:25 -0400

LOS ANGELES (MarketWatch) -- U.S. crude-oil futures Friday were on track for a fourth consecutive losing session, with concerns about lackluster energy demand following weak Chinese data also helping oil prices fall for the ...

3i Group Makes Offer to Buy Barclays Infrastructure Fund Management

Fri, 24 May 2013 03:05:33 -0400

International investor company 3i Group PLC (III.LN), said Friday that it has made an irrevocable offer to Barclays Bank PLC (BARC.LN), to acquire Barclays Infrastructure Funds Management Ltd or BIFM, its European infrastructure fund management business.MAIN FACTS:-BIFM has assets under management of 780 million pounds and an investment team based in London and Paris.-The proposed transaction is ...

Foreign selling of dollar sparks Unilever inflows talk

Fri, 24 May 2013 03:00:38 -0400

Unilever Plc plans to pay up to $5.4 billion to raise its stake in its Indian subsidiary Hindustan Unilever Ltd. The open offer will open on June 21 and close on July ...

GLOBAL MARKET-Volatile Nikkei keeps Asian stocks on edge

Fri, 24 May 2013 02:55:09 -0400

Fri May 24, 2013 3:45am EDT * Nikkei ends a seesaw day up 0.9 pct * Asian stocks outside Japan dip to 1-month lows * Yen rises vs USD and euro on turbulent Nikkei * European stocks expected to fare better By Ian Chua SYDNEY, May 24 (Reuters) - Asian stocks fell to one-month lows on Friday and the yen rebounded broadly as extreme volatility in the Nikkei kept investors on edge. The Nikkei has ...

Earthquake Hits Russian Far East

Fri, 24 May 2013 02:29:37 -0400

A magnitude 8.2 earthquake struck Russia'a Far East in the Sea of Okhotsk off the Kamchatka Peninsula, according to the U.S. Geological Survey. The epicenter of the quake was located 244 miles west north west of Petropavlovsk-Kamchatskiy at a depth of 385 miles, the USGS said. This story is developing. Please check back for further ...

Japan’s Nikkei Goes for Wild Ride for Second Day

Fri, 24 May 2013 02:29:37 -0400

Japan's stock market witnessed a second-straight day of heightened volatility on Friday, swinging from gains of 3 percent to deep losses before bouncing back again, leaving traders puzzled as to what was going on in Asia's biggest stock market. The Nikkei, which rose about 3 percent in early trade, fell more than 3 percent in the final hour of Tokyo trade before paring those losses. The ...

Currencies Yen resumes advance vs. dollar

Fri, 24 May 2013 02:16:00 -0400

LOS ANGELES (MarketWatch) -- The Japanese yen gained Friday, resuming its advance against the U.S. dollar the previous day that was spurred in part by a sell-off in Japanese ...

Choppy Bond Markets Put Japan Banks on Edge

Fri, 24 May 2013 01:39:12 -0400

The volatility in the Japanese government debt market has unnerved investors in domestic banks, with some of the country's biggest lenders alone holding an estimated 40 trillion yen ($390 billion) worth of these bonds. A spike on Thursday in the benchmark 10-year Japanese government bond (JGB) yield ...

Woori Finance Names New Chairman Ahead of New Privatization Push

Fri, 24 May 2013 01:24:21 -0400

Woori Finance Holdings Co. (053000.SE), South Korea's largest banking group by assets, named a new chairman to help steer the government's fourth attempt to sell a 57% stake valued at $4.6 billion in the group.Lee Soon-woo, chief executive at the flagship Woori Bank, will take over as chairman, subject to shareholder approval at a meeting on June 14, Woori Finance said in a statement ...

New Bank Indonesia Governor To Focus on Keeping Inflation in Check

Fri, 24 May 2013 01:24:21 -0400

Bank Indonesia's new Governor Agus Martowardojo said Friday that keeping inflation in check would be one of the central bank's top priorities to safeguard the nation's economy amid lingering global uncertainties.Mr. Martowardojo, who began his five-year term Friday, said the bank is ready to raise interest rates, keep the rupiah's exchange rate stable and implement various ...

Sun Pharma falls after Taros earnings disappoint

Fri, 24 May 2013 01:19:03 -0400

Shares in Sun Pharmaceutical fell 3% after its unit Taro Pharmaceutical Industries Ltd posted a lower-than-expected January-March net profit, dealers ...

Kenya UNHCR Microsoft and HP to Boost Refugee Education in Dadaab

Fri, 24 May 2013 00:22:38 -0400

The UN Refugee Agency in partnership with Microsoft and HP, and with the support of the Innovation and Education units, has officially launched the Community Technology Access (CTA) project in Dadaab, a comprehensive initiative to harness the potential of ICT for the improvement of teaching and learning in the world's largest refugee settlement at the Kenya-Somalia border. Ensuring quality ...

Asia stock markets edge up after big sell-off

Thu, 23 May 2013 23:54:07 -0400

Asian stock markets staged a mild recovery Friday, a day after being routed by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary ...

Microsoft brushes off claim Xbox Live accounts were compromised

Thu, 23 May 2013 23:51:15 -0400

IDG News Service - Microsoft brushed off a dubious hacker's claim on Thursday that he stole 47 million account credentials for Microsoft's Xbox Live gaming service. The hacker, who goes by the Twitter handle ...

Microsoft did not violate Google patent ITC

Thu, 23 May 2013 23:30:39 -0400

Xbox is related to the larger smartphone patent war between Apple, Microsoft and the mobile phone makers who use Google's Android software, including its subsidiary Motorola ...

Japan Bulls Unwavered by Stock Market Rout

Thu, 23 May 2013 22:57:43 -0400

A day after Japanese equities witnessed their sharpest one-day drop in more than two years, investor optimism over the outlook for the country's stock market remains unshaken. "The market was very right for a correction. [But] longer term there is a lot of potential in Japan. Obviously markets don't move in a straight line," David Dietze, president and chief investment ...

Market Wrap for Thursday May 23 Wall Street Shrugs Off Global Slump

Thu, 23 May 2013 22:33:12 -0400

Thursday's trading session may have been the most glaring example of just how powerful the bull market in U.S. stocks is right now. Even though all of the major averages closed slightly lower on the day, the U.S. market was able to shrug off a global rout in stock prices that began with a 7.3 percent crash in the Nikkei. The catalyst for the sell-off in Japan centered on concerns ...

Worry not Less help from Fed would be good economic news

Thu, 23 May 2013 22:03:45 -0400

As the Federal Reserve slows its drive to keep interest rates low, it should be cause for celebration: It would mean policymakers think the economy is strong enough to accelerate with less help from the ...

Japan Nikkei Plunge Wont Derail Abenomics

Thu, 23 May 2013 22:00:27 -0400

The biggest plunge in Japanese stock prices since a 2011 earthquake and tsunami was a temporary pullback that will not derail the government's "Abenomics" policy of loose money and fiscal stimulus, officials said on Thursday. "It's a temporary adjustment after the rapid gains seen recently," Yasutoshi Nishimura, senior vice-minister of the Cabinet Office, told ...

Procter Gamble brings back former CEO to fix company

Thu, 23 May 2013 21:47:14 -0400

PG.N ) on Thursday brought back A.G. Lafley to run the world's largest household products maker, replacing Bob McDonald immediately in the midst of a major ...

Google like Facebook in talks to buy Waze for about $1 billion report

Thu, 23 May 2013 21:47:14 -0400

(Reuters) - Google Inc is considering buying Israeli mobile satellite navigation start-up Waze Inc, which may lead to a bidding war with Facebook Inc, Bloomberg news reported, citing people familiar with the ...

Wall St. bucks global slump

Thu, 23 May 2013 21:43:26 -0400

Nikkei plunged 7.3% on Thursday. Investor jitters then spilled over into Europe, where major stock indexes dived 2%. Wall Street opened deep into the red, with major indexes initially falling about 1%. The Dow Jones industrial average sunk more than 100 points shortly after the opening bell on the New York Stock Exchange. But as trading continued, investors flocked back, paring the day's ...

Rio Tinto Begins Cutting Jobs at Utah Copper Mine After Slide

Thu, 23 May 2013 21:42:53 -0400

Rio Tinto PLC (RIO.LN) has cut about 100 jobs at its copper operation in Utah and warned further positions will be cut later this month as it moves to reduce operating costs after a large part of the pit wall collapsed at its Bingham Canyon mine last month.The London-based company's Kennecott Utah Copper unit in a statement Thursday said it continues to take steps to reduce the impact on its ...

ASIA MARKETS Japan Stocks Recover Modestly After Steep Sell-off

Thu, 23 May 2013 21:42:53 -0400

HONG KONG – Japanese stocks jumped Friday to stage a modest recovery, with relief buying emerging after the extreme losses they suffered the previous day, amid expectations that the rally that began late last year may have further to go.The Nikkei Stock Average climbed 3% after diving 7.3% in the previous session, while the broader Topix advanced 2.6% after Thursday's 6.9% ...

RPT-Hong Kong shares to open flat Lenovo jumps after earnings

Thu, 23 May 2013 21:28:07 -0400

Thu May 23, 2013 9:28pm EDT HONG KONG May 24 (Reuters) - Hong Kong shares are set to open flat on Friday, with PC maker Lenovo Group Ltd up 4 percent to be the top percentage gainer among Hang Seng Index components, extending gains after it reported a forecast-beating quarterly profit. The Hang Seng Index was set to open flat at 22,679.36. The China Enterprises Index of the top Chinese listings ...

Hewlett-Packard profit down 32

Thu, 23 May 2013 20:59:06 -0400

Hewlett-Packard Co raised its 2013 earnings outlook after quarterly results beat low expectations , as CEO Meg Whitman's turnaround plan helped offset shrinking personal computer sales with enterprise computing services. While fiscal second-quarter profit plummeted 32 percent ...

In risky new tack Microsoft stacks Surface against iPad

Thu, 23 May 2013 20:52:10 -0400

(Credit: Microsoft) Microsoft's "iPad vs. Windows" campaign now includes iPad vs. Surface RT. Is Microsoft picking the right fight? On the back ...

Sears losses mount weighs sale of unit to shore up liquidity

Thu, 23 May 2013 20:49:21 -0400

Some on Wall Street saw D'Ambrosio's departure as adding to Sears' risks, and worried that Lampert's lack of retail sales experience could hurt the company's attempt to turn around its core Sears department stores and Kmart ...

U.S. options clearer moves to end trade type dominated by Nasdaq

Thu, 23 May 2013 20:49:10 -0400

SAN FRANCISCO (Reuters) - The clearinghouse for all stock options said Thursday it will adopt a policy aimed at abolishing a dividend-linked trading strategy that critics say could destabilize markets if left ...

Salesforce.coms quarterly results disappoint Wall Street

Thu, 23 May 2013 20:46:00 -0400

Salesforce.com Inc's quarterly earnings and outlook disappointed investors as costs rise following a spree of acquisitions, sending its shares lower. Under Marc Benioff, Salesforce's CEO and founder, the company's fast revenue growth has made it a favorite with investors eager to own part of the growing trend among businesses to outsource their information technology needs - from ...

Fed Fears Shake Global Markets but Fade on Wall St.

Thu, 23 May 2013 20:40:23 -0400

Investors are contemplating a future without support from one of the biggest engines of the global economy in recent years: the Federal Reserve. Fears that the Fed is about to reduce its stimulus helped send stock, bond and currency prices on a wild ride on Wednesday and Thursday, with Japanese stocks experiencing their worst one-day decline since the 2011 tsunami and United States ...

GLOBAL MARKETS-Asian stocks shaky Nikkei still seen vulnerable

Thu, 23 May 2013 20:29:33 -0400

Fri May 24, 2013 12:22am EDT * Nikkei down 0.6 pct, erases earlier gains * Asian stocks outside Japan dip to 1-month lows * Yen rises vs USD and euro as Nikkei trims gains By Ian Chua SYDNEY, May 24 (Reuters) - Japanese stocks turned negative on Friday and the yen reversed early losses, keeping intact worries that the Nikkei's largest one-day drop in two years may be the start of a bigger ...

Hot property Trace Water addition Savage

Thu, 23 May 2013 20:01:00 -0400

Details: The Savage City Council has approved plans for a third addition to the Trace Water subdivision, paving the way for 40 custom homes starting at ...

Kahne embraces long races like the Coca-Cola 600

Thu, 23 May 2013 20:00:41 -0400

Kasey Kahne climbs into his car for practice for Sunday's NASCAR Sprint Cup series Coca-Cola 600 auto race at Charlotte Motor Speedway in Concord, N.C., Thursday, May 23, 2013. (AP Photo/Mike ...

Art Laffers tax fix for California

Thu, 23 May 2013 20:00:39 -0400

Economist Arthur Laffer, known for advocating supply-side economics while advising former President Ronald Reagan, discusses Kansas Gov. Sam Brownback's income tax plan with reporters, Thursday, Jan. 19, 2012, at the Statehouse in Topeka, Kan. Laffer, of Nashville, Tenn., also advised the Brownback administration and calls its tax plan "beautiful." (AP Photo/John ...

UCSD gets $6.4 million to hire stem cell researcher

Thu, 23 May 2013 20:00:39 -0400

Ahrens studies cellular biology with nuclear magnetic resonance tools that let him examine the activities of living cells, including stem cells. The cells can be tracked inside whole animals, helping to establish their roles in diseases and how they respond to ...

ITC rules Microsofts Xbox doesnt infringe on Motorola patent

Thu, 23 May 2013 19:52:26 -0400

The U.S. International Trade Commission has decided to make final a judge’s preliminary ruling that Microsoft's Xbox console does not infringe on a Motorola patent. ...

Boy Scouts to Admit Gay Youth

Thu, 23 May 2013 19:50:59 -0400

The Boy Scouts of America on Thursday ended its longstanding policy of forbidding openly gay youths to participate in its activities, a landmark step its chief executive called "compassionate, caring and kind."The decision, which followed years of resistance and wrenching internal debate, was widely seen as a milestone for the Boy Scouts, a symbol of traditional America. More than 1,400 ...

PG Brings Back Lafley to Replace CEO

Thu, 23 May 2013 19:50:59 -0400

Procter and Gamble is bringing A.G. Lafley out of retirement to be its Chairman and CEO, effective immediately. He had been CEO from 2000 to 2009. He succeeds Bob McDonald, who is retiring at the end of June after 33 years with the company. In 2009, McDonald took over the CEO job from Lafley. Share of the Dow component were up slightly shortly after the surprise ...

Google Boss Fears Digital Ethnic Cleansing

Thu, 23 May 2013 19:42:51 -0400

Two of Google's most senior executives have used a lecture in London to press their belief in the transparency of the internet and warned of the dangers of "digital ethnic ...

Microsoft cleared in Xbox patent spat with Google

Thu, 23 May 2013 19:40:59 -0400

The U.S. International Trade Commission on Thursday said it won't review a final ruling that found Microsoft to be in the clear of infringing on patents held by Motorola Mobility, which Google acquired last year. The ruling ...

UPDATE 3-Former Goldman banker settles SEC pay-to-play charges

Thu, 23 May 2013 19:38:09 -0400

WASHINGTON/CHICAGO, May 23 (Reuters) - A former Goldman Sachs Group Inc. investment banker has agreed to a five-year securities industry ban and a record fine to settle U.S. Securities and Exchange Commission charges that he broke rules against influence peddling to win bond underwriting business in ...

Fed Study Rebuts Banks on Swipe Fees

Thu, 23 May 2013 19:35:06 -0400

A Federal Reserve study on debit-card transactions undercuts complaints from the banking industry that a government cap on the fees large lenders charge merchants would result in a drop in the payments for all banks.Small banks and credit unions last year were able to charge slightly more than double the average fee of large lenders for debit-card transactions in which the customer has to sign a ...

Brazil Raises FGC Bank Deposit Guarantee Coverage to BRL250000

Thu, 23 May 2013 19:35:05 -0400

Brazil's National Monetary Council authorized on Thursday an increase of the coverage of the country's FGC bank deposit guarantee fund to provide greater protection to depositors and align the country's policies with deposit guarantee practices abroad, the council said.The move had previously been approved at a board meeting of institutions participating in the FGC fund, which is a ...

OMERS considering proposal to reduce pension payouts

Thu, 23 May 2013 19:33:49 -0400

Faced with a $10-billion pension-funding deficit, one of Canada’s largest pension funds is considering a drastic proposal that would reduce benefits paid to retiring workers -- or force them to work years longer for the same retirement ...

Campbell Soup buys Plum Organics

Thu, 23 May 2013 19:32:11 -0400

NEW YORK Campbell Soup said it's buying Plum Organics, which makes food for babies and kids, for an undisclosed amount as it looks to move into faster-growing categories. The company, which also makes Prego pasta sauces and Pepperidge Farm cookies, had been struggling to grow sales of its canned soups in recent years as people increasingly look for foods with a fresher feel. To diversity its ...

Cheaper Store-Brand Sunscreens Protect Better Than Costly Counterparts

Thu, 23 May 2013 19:29:53 -0400

Image credit: Getty Images You might think that a costly sunblock would be better at blocking UVA and UVB rays than a store brand at, say, Walgreens. However, according to Consumer Reports’ annual ...

Hewlett-Packard Rue21 Buckle are big movers

Thu, 23 May 2013 19:23:17 -0400

NYSEHewlett-Packard Co., up $3.63 at $24.86The computer company's second-quarter results beat Wall Street expectations. It also boosted its full-year earnings forecast.Ralph Lauren Corp., down $4.37 at $183.69The luxury company posted a 35 percent jump in its fourth-quarter profit, but economic challenges in the U.S. and abroad cut into sales.The Buckle Inc., down $1.72 at $55.42The ...

UPDATE 2-Goldman unveils checks on conflicts in bid to fix image

Thu, 23 May 2013 19:15:16 -0400

Thu May 23, 2013 7:15pm EDT By Lauren Tara LaCapra SALT LAKE City May 23 (Reuters) - After dozens of meetings with executives and regulators, 100,000 hours of employee training and an immeasurable amount of public grief, Goldman Sachs Group Inc's Lloyd Blankfein claimed success in putting the bank and his legacy as CEO back on track. At Goldman's annual meeting on Thursday, Blankfein ...

US stocks end slightly lower

Thu, 23 May 2013 18:52:24 -0400

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Intersection of Louisiana Avenue and Hwy. 7 to be rebuilt in St. Louis Park

Thu, 23 May 2013 18:49:01 -0400

The busy intersection of Louisiana Avenue and Hwy. 7 will become an interchange with on- and off-ramps. The city hopes it will spur ...

Stocks recover from an early swoon as investors reassess fears that Fed will slow stimulus

Thu, 23 May 2013 18:49:00 -0400

NEW YORK - Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower. U.S. markets plummeted immediately after the opening bell Thursday following a global slump prompted partly by an unexpected slowdown in Chinese manufacturing. Concern that the Federal Reserve might ease back on its economic stimulus program sooner than expected had also ...

Merck ends development of Parkinsons disease drug preladenant based on study results

Thu, 23 May 2013 18:48:59 -0400

WHITEHOUSE STATION, N.J. - Merck & Co. says it is ending development of an experimental Parkinson's disease drug because the drug wasn't working. Merck says it reviewed initial data from three late-stage clinical trials and did not find evidence preladenant was more effective than a placebo. The company says it doesn't plan to file for marketing approval of the drug. It says ...

Inside View Chris Garcia of CGC Commercial

Thu, 23 May 2013 18:48:58 -0400

Garcia left a stable, eight-year gig as an industrial broker at Bloomington-based Cushman & Wakefield /NorthMarq, one of the Twin Cities' largest commercial real estate brokerage firms. Despite the unsettled economic climate, he was ready to strike out on his ...

Long-term unemployed ready to work

Thu, 23 May 2013 18:48:33 -0400

All but one in the group was over 50 and had been unemployed 27 weeks or longer. They represent the part of unemployment that hasn't fallen with the rest of it -- long term joblessness. While the U.S. jobless rate has declined from a high of 10 percent in 2009 to 7.5 percent in the last four years, the percentage of people who are unemployed for six months or longer has hovered around 40 ...

Microsofts Interactive Xbox One Debuts

Thu, 23 May 2013 18:42:28 -0400

Microsoft thinks it has the one. The company unveiled the Xbox One, an entertainment console that promises to be the one system households will need for games, television, movies and other entertainment. It will go on sale later this year, for an undisclosed price. For the past two years, Microsoft has led the gaming industry in console sales with the Xbox 360. But it's been eight ...

Shakeup at Embroiled IRS Unit

Thu, 23 May 2013 18:38:34 -0400

Lois Lerner, the IRS official whose unit is at the center of the investigation into alleged Tea Party targeting, has been placed on administrative leave and a replacement has been named. Ken Corbin was named acting director of exempt organizations during Lerner's leave. He is currently deputy director of submission processing in the wage and investment division. Lerner invoked her Fifth ...

Cramer 2 Laggards Worry Bernanke

Thu, 23 May 2013 18:38:34 -0400

Fed Chairman would never admit to it, but Cramer is convinced he's worried about these two laggards. And they lie at the very heart of the biggest issue facing the recovery in US economy."We still don't have any real growth ...

House Votes for Market-Based Rates

Thu, 23 May 2013 18:38:33 -0400

The Republican-dominated House of Representatives on Thursday voted to switch federal student loan interest rates to a market-based system. Republicans said their plan is a long-term solution that will take politicians out of the business of setting student loan rates and using them as a bargaining chip. It is unclear, however, how much support the bill will get in the Democratic-led Senate, ...

Tesco rules out automatic big bonuses

Thu, 23 May 2013 18:35:13 -0400

Source: Tesco Tesco executives will not receive a bonus in the current financial year unless they can reverse a decline in profits at Britain's biggest supermarket operator, the company said in its annual report. The report rounds off a torrid year for the company, which announced a withdrawal from the United States and wrote down the value of its global operations by $3.5 billion due to ...

Wet spring weak construction drag Titan Machinery to loss

Thu, 23 May 2013 18:25:48 -0400

TITN.O ) said it expects to report a quarterly loss as demand was hit by a wet spring weather in the United States that delayed corn plantations, sending its shares down 12 percent in extended ...

Denner added as nominee to Vivus board by activist investor

Thu, 23 May 2013 18:25:47 -0400

Vivus shares rose as much as 11 percent after First Manhattan, which has nearly a 10 percent stake in Vivus, expanded its slate of proposed directors from six to nine, including ...

Ally settlement may be a boon for ResCap bondholders

Thu, 23 May 2013 18:25:42 -0400

GKM.N ) $2.1 billion contribution to the debts of mortgage lender Residential Capital LLC, hedge funds like Paulson & Co may have obtained a better ...

NYSE says AEP NextEra trades stand after crash at open

Thu, 23 May 2013 18:25:39 -0400

NEE.N ) in a crash that happened in the first minute of trading on Thursday will stand, the New York Stock Exchange said, following the latest in a flurry of unexplained sharp drops in the ...

Earnings Results Pandora gets lift on strong sales outlook

Thu, 23 May 2013 18:23:43 -0400

SAN FRANCISCO (MarketWatch) -- Shares of Pandora Media Inc. surged in after-hours trading Thursday after the online-radio company reported better-than-expected sales for the first quarter, with big gains in revenue from mobile ...

Hewlett-Packard shares soar 17 after earnings

Thu, 23 May 2013 18:23:40 -0400

Marathon Patent Group's Wholly Owned Subsidiary, Sampo IP, Files Patent Infringement Lawsuit Against Starbucks Corporation, E*Trade Financial, Hewlett-Packard Company, and ...

Direct Access Shuts Down After Traders Implicated in Bribery Probe

Thu, 23 May 2013 18:22:44 -0400

New York-based broker-dealer Direct Access Partners has closed its doors, said a person familiar with the matter, after allegations surfaced earlier this month of a multimillion dollar Venezuelan bribery scheme involving two of its traders.Goldman Sachs Execution & Clearing, the firm's clearing agent, stopped accepting trades after that probe came to light on May 8, effectively shutting ...

Money-Market Fund Inflows $19.53 Billion in Latest Week -ICI

Thu, 23 May 2013 18:22:42 -0400

Assets in money-market funds increased by $19.53 billion in the week ended Wednesday as investors added money across fund categories, led by gains in institutional government and non-government funds, according to the Investment Company Institute.Money-market funds are widely owned by retail investors, companies and others looking for a safe place to put their cash. However, ICI has reported ...

Chinas Steel Overcapacity Seen Continuing

Thu, 23 May 2013 18:22:42 -0400

Serious overcapacity in China's steel industry is unlikely to ease in 2013, which could hamper steel prices and jeopardize Chinese steelmakers' performance, a China-based analyst said Thursday.China is set to produce about 750 million metric tons of crude steel in 2013, while capacity will rise to 950 million tons a year as some 50 million tons new capacity is being built, said Jing ...

Gold and Silver Climb Higher Stocks Remind Investors That Down Days Are Still Possible

Thu, 23 May 2013 18:22:41 -0400

NYSEARCA:SLV ) futures for July edged 4 cents higher to finish at $22.51.Both precious metals found a bid as equity markets took a hit. In Japan, the Nikkei plunged 7.3 percent, its worst single-day decline since the March 2011 earthquake and tsunami disaster. Stocks in the U.S. opened the day lower as well, but recovered most of the losses to finish the day only slightly in the ...

Proxy advisory firm settles SEC charges over data breach

Thu, 23 May 2013 18:22:04 -0400

WASHINGTON (Reuters) - Institutional Shareholder Services has settled civil charges by U.S. regulators that an employee of the prominent proxy advisory firm shared nonpublic voting data in exchange for meals and concert ...

Analysis Markets face rough summer ride as Fed pullback feared

Thu, 23 May 2013 18:22:04 -0400

NEW YORK (Reuters) - For the past few months, the U.S. Federal Reserve has been squarely in the financial markets' corner, thanks to its massive dollops of monetary stimulus. But signs that the central bank is discussing reducing that support by purchasing fewer bonds mean that trading is likely to get bumpier in coming ...

Biotech industry faces funding crunch report says

Thu, 23 May 2013 18:21:26 -0400

Despite an aging population and a growing demand for medication, the biotech industry is facing a funding crunch as investors turn to ';sexier'; industries with quicker product turnarounds and better chances of payoff, a new report suggests. Capital raised in the biotech industry in North America and Europe fell about 15% in 2012, to US$28.1-billion, the first drop since 2008, Ernst ...

Gaps first-quarter profits rise 43 percent

Thu, 23 May 2013 18:20:13 -0400

GPS ), which owns the Gap, Old Navy and Banana Republic clothing chains, reported on Thursday a 43 percent increase in its fiscal first-quarter net income as the company continues to reap benefits from the turnaround plan that it began early last year. The company, based in San Francisco, also reiterated its full-year earnings outlook. The latest results are welcome news for customers and ...

Wall Street ends down but off session lows

Thu, 23 May 2013 18:17:37 -0400

US stocks slipped on Thursday but finished sharply off their session lows as a rally in Hewlett-Packard's shares offset worries about weak Chinese manufacturing data and the prospects of ...

Pandora Stock Rises On Strong Earnings Report

Thu, 23 May 2013 18:16:29 -0400

Traders on the floor of the New York Stock Exchange walk wear an insignia for Pandora Media Inc., the online-radio company, on its first day of trading as a public company on June 15, 2011 in New York City. (Spencer Platt/Getty ...

Pizza delivery to U.S. service members in Afghanistan dubbed largest

Thu, 23 May 2013 18:12:31 -0400

Mark Evans , a retired Air Force master sergeant and founder of nonprofit group Pizza 4 Patriots, said Guinness officials notified him that last summer's massive pizza delivery to U.S. service members in Kandahar, Bagram and Camp Bastion was officially the world's largest pizza delivery, ABC News reported Thursday. Evans said he is "completely pleased and overwhelmed" by the ...

The unanswered question after earnings Will HPs bets pay off

Thu, 23 May 2013 17:36:39 -0400

Hewlett-Packard is way up. Is its salvation at hand? Hewlett-Packard Co.'s earnings yesterday weren't great, but the stock price closed up more than 17 percent at $24.86 today. A deeper dive into the financials reveals the reason why: While revenue is slipping in basically every category besides printers, HP has slashed its expenditures, increased its cash flow, paid down debt, and has ...

UPDATE 2-U.S. sees first drop in F-35 costs other programs steady

Thu, 23 May 2013 17:36:31 -0400

Thu May 23, 2013 5:36pm EDT * Pentagon report shows $4.5 bln drop in F-35 cost * Costs up $40 mln or 2.4 pct at 78 major arms programs By Andrea Shalal-Esa WASHINGTON, May 23 (Reuters) - The Pentagon on Thursday told Congress it expected a 1 percent drop in the cost of its biggest weapons program, the Lockheed Martin Corp. F-35 fighter jet, while averting the huge cost increases seen on other ...

COMMODITIES-Oil cuts loss shadowing Wall St rebound copper down

Thu, 23 May 2013 17:35:47 -0400

Thu May 23, 2013 5:35pm EDT * Oil erases bulk of early loss, rebounding with US stocks * Gold up after Fed official says no hurry to ditch stimulus * Copper slumps on weak China manufacturing activity data * Soybeans hits 8-month high; coffee, raw sugar up too By Barani Krishnan NEW YORK, May 23 (Reuters) - Oil tracked a recovery in U.S. stocks to erase the bulk of its early losses on Thursday ...

Plant restart wont wait on investigations

Thu, 23 May 2013 17:35:06 -0400

The restart of the San Onofre nuclear plant could be authorized before the conclusion of investigations into the conduct of the plant operator, the chairman of the Nuclear Regulatory Commission told a Senate committee on ...

HP Q2 earnings down 32 to USD1.1b

Thu, 23 May 2013 17:31:11 -0400

(MENAFN) Hewlett-Packard Co. (HP) CEO, Meg Whitman, announced that the PC maker's earnings during the second quarter dropped by 32 percent to USD1.1 billion from USD1.6 billion a year earlier, reported AP.However, the earnings results exceeded forecasts of the management and the analysts, due to Whitman's plan to reduce costs, overhaul the product line, and to focus on more profitable ...

After Hours Pandora jumps Sears tanks after hours

Thu, 23 May 2013 17:30:52 -0400

SAN FRANCISCO (MarketWatch) -- Shares of Pandora Media Inc. and Marvell Technology both advanced in after-hours action Thursday following their quarterly earnings reports. Sears sank on a large loss for the ...

Letters Orwellian changes to legal aid provision

Thu, 23 May 2013 17:27:23 -0400

Chris Grayling is disinterested in any contribution from the profession. It is beyond doubt that the tendering out of legal aid to private business will herald a decline in standards in a legal system that has been a model of justice for centuries. There is no provision whatsoever in the proposals to ensure standards are maintained when individuals are unable to choose their representation. Once ...

Sears Shares Drop 13 After Big Loss

Thu, 23 May 2013 17:24:43 -0400

(Click here to get the latest quotes for the company.) The department-store chain reported an adjusted loss of $1.29 a share, compared with a loss of 31 cents a share in the year-earlier period.Revenue fell ...

Gaps Earnings Beat Forecasts

Thu, 23 May 2013 17:24:42 -0400

Gap reported first-quarter earnings that beat Wall Street expectations, helped by a rise in same-store sales at its Old Navy and Gap chains and growth in Asia. What is Gap stock doing in after-hours ...

Pandora Shares Jump After Revenue Beat

Thu, 23 May 2013 17:24:42 -0400

Pandora hit its earnings target Thursday and delivered better-than-expected revenue boosted by new subscribers and growth in the mobile advertising. "Mobile listening hours and mobile ad revenue reached record highs," said Pandora CEO Joe Kennedy. The company's shares jumped after the ...

Ally Triples Offer for ResCap Claims

Thu, 23 May 2013 17:24:41 -0400

Ally Financial agreed Thursday to pay $2.1 billion to settle legal claims tied to its bankrupt Residential Capital unit--nearly triple the amount it had initially offered. Ally hopes that the deal will put an end to allegations that ResCap was stripped of choice assets such as Ally Bank before being put into bankruptcy, leaving creditors of the subprime mortgage business empty-handed. Putting the ...

Google Faces New Antitrust Probe Report

Thu, 23 May 2013 17:24:41 -0400

Google , which dominates web display advertising, has broken antitrust law in how it handles some ad sales, a source told Reuters on Thursday. The source said that it was unlikely that the Federal Trade Commission had sent out civil investigative demands in relation to the probe, which would be the sign of a formal and more serious investigation. The FTC wrapped up ...