Breaking Business News latest RSS headlines - Uzbekistan News.net

Workers demand more action from Italian government

Sun, 19 May 2013 10:41:41 -0400

Protesters marching in the tens of thousands rallied in Italy on Sunday to rail against the policies of the new coalition government. Around 100,000 protesters, led by trade unionists, converged on Rome to wave red flags and placards, urging changes to austerity measures. The union-led crowd called for the new government of centre-left Prime Minister, Enrico Letta, to focus on job creation ...

Americans find happiness in household wealth

Sun, 19 May 2013 10:39:30 -0400

Americans are at their most optimistic since 2007 according to a Thomson Reuters/University of Michigan index of consumer sentiment. The preliminary index has shown optimism increased to 83.7 in May as stocks surged and real estate climbed. With record stock prices boosting household wealth and unemployment down in some areas, consumers were able to see their way through the effects of ...

Construction begins on new island off Jumeirah Beach in Dubai

Mon, 20 May 2013 04:26:18 -0400

Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...

Hackers take on Financial Times web site

Sun, 19 May 2013 10:37:49 -0400

Britain's Financial Times was hacked last week by a mysterious group calling itself the Syrian Electronic Army. The newspaper's technology blog was hacked to display a slogan saying: "Hacked by the Syrian Electronic Army." Several Twitter feeds run by the Financial Times were also plastered with similar slogans. The FT later said its blogs and social media accounts had been compromised ...

Digital world creeps up on Target

Sun, 19 May 2013 10:34:21 -0400

Target Corp has opened a new office base in San Francisco in order to discover technology ideas. With the second-largest US retailer trying to grow its online commerce business, a Technology Innovation Center has been set up to develop mobile commerce, which has become a particular focus of retailers because new technology allows people to use their mobile devices to shop. With a huge ...

Hackers get into important Saudi websites

Sun, 19 May 2013 10:36:20 -0400

The Saudi Arabia state news agency has reported a coordinated attack on the country's government websites. Several government websites in Saudi Arabia came under heavy cyber attacks last week, shutting them down for a short time. The attacks have been traced to IP addresses from a number of countries. Saudi investigators found the attacks had been launched from hundreds of Internet ...

Sanders hires policy exec for chamber

Mon, 20 May 2013 09:39:45 -0400

Aimee Faucett, Sanders' former deputy chief of staff and director of policy, will now work for him in a new capacity, as vice president of domestic and international public policy and member ...

Yahoo promises not to screw it up over $1.1bn Tumblr deal

Mon, 20 May 2013 09:33:28 -0400

internet giant's biggest acquisitions was echoed in the memo sent by David Karp, Tumblr's 26-year-old founder, to his staff, in which he said "We're not turning purple" - Yahoo's corporate colour - and rounded it off "Fuck yeah."The deal, which is expected to complete in the second half of the year, is almost all cash, is equal in value to Yahoo's ...

How should a long-serving chief executive decide if it is time to go | Jill Treanor

Mon, 20 May 2013 09:33:27 -0400

Martin Gilbert, one of the longest serving chief executives of any FTSE 100 company, found himself mulling over his longevity as he spoke to a conference in London on Monday.He was there to ...

British workers feeling less secure – and more stressed

Mon, 20 May 2013 09:33:25 -0400

pay cuts and diminished control over their jobs among the biggest concerns, according to a national survey of employees' wellbeing.More than 3,000 workers aged between 20 and 60 were interviewed in 2012 for the latest in a six-yearly Skills and Employment survey, funded by the Economic and Social Research Council and the UK Commission for Employment and Skills.The first findings from the ...

Chesapeake Taps Anadarko Exec as New CEO

Mon, 20 May 2013 09:30:52 -0400

Anadarko Petroleum as chief executive, filling the post vacated by co-founder Aubrey McClendon.Lawler, who is senior vice president of international and deep-water operations at Anadarko Petroleum, will join Chesapeake on June 17, the company said.McClendon's departure on April 1 came after a tumultuous year in which a series of Reuters investigations led to civil and criminal probes of the ...

Power Rundown Lotteries a Tax On the Foolish

Mon, 20 May 2013 09:25:40 -0400

CNBC's Robert Frank and Bob Pisani discuss new rules for carry-on bags; the Buycott app, which helps you boycott a company's products; and are lotteries a tax on the ...

Yahoo says buying Tumblr for $1.1B vows not to screw it up

Mon, 20 May 2013 09:25:40 -0400

Yahoo's board has agreed to buy Tumblr for $1.1 billion cash. Yahoo CEO Marissa Mayer has acquired several social media sites, presumably to attract a younger audience. Yahoo said Monday it will buy blogging website Tumblr for $1.1 billion cash, in a bold move to make itself more relevant amid the explosion in social media on the Internet.Yahoo said it "promises not to screw it ...

Credit Suisse CEO Talks Regulation

Mon, 20 May 2013 09:25:37 -0400

Credit Suisse is among the first nanks to de-leverage to meet the demands of today's stricter regulatory environment. Brady Dougan, CEO, Credit Suisse, weighs in on the transition with CNBC's Maria ...

Wall Street advances for fourth straight week

Mon, 20 May 2013 09:25:36 -0400

Insight on the market action, with Mark Luschini, Janney Montgomery Scott; Dan Veru|Palisades Capital Management; Peter Costa, Empire Executions; and Andrew Keene, Keene on the Markets. Stocks closed out the week with strong gains, with the Dow and S&P 500 hitting fresh highs and all three major averages logging their fourth-straight weekly advance, boosted by a pair of positive economic ...

Crime at sea The worlds most pirate-infested waters

Mon, 20 May 2013 09:25:32 -0400

Where are the most pirate-infested waters in the world? CNBC gives the rundown. Like the Caribbean of old, the waters near Somalia used to be the most heavily pirated in the world. Now there's a new king of the pirates that's quickly become a headache for governments, shipping companies, cruise lines, energy firms, global conglomerates ...

Jennifer Aniston From Friend to Entrepreneur

Mon, 20 May 2013 09:25:30 -0400

Jennifer Aniston is one of Hollywood's leading stars. Aniston spoke exclusively with CNBC's Maria Bartiromo about what motivated her to get into the hair care ...

Restaurants fear tough drunk-driving law will be buzzkill for light drinkers

Mon, 20 May 2013 09:25:23 -0400

Diners have alcohol with their dinner at Paci Restaurant in Southport, Conn. on Friday, May 17, 2013. Imagine having a drink with dinner at a restaurant only to be pulled over on the way home and slapped with a DUI. That could happen under a proposed plan to toughen the drunk driving laws across the country, and it has restaurateurs alarmed.The National Transportation Safety Board wants states to ...

Tim Cook Says Corporate Taxes Too High

Mon, 20 May 2013 09:25:21 -0400

Seema Mody reports on Apple CEO Tim Cook's statement that corporate taxes are too high, ahead of his Congressional testimony next week. With Dean Garfield, Information Technology Industry Council, and Arthur Laffer, Laffer Associates ...

The IRS Takes a Grilling

Mon, 20 May 2013 09:25:19 -0400

CNBC contributor Robert Costa discusses the outgoing IRS chief's testimony in front of the House today. And Rep. Peter Roskam (R-IL), offers his take on the IRS scandal and today's testimony. With Jay Sekulow, American Center for Law & ...

Retiring baby boomers are selling their small businesses

Mon, 20 May 2013 09:25:16 -0400

Roberta Bonoff, new owner of Creative Kidstuff, a toy store chain based in Minneapolis. Bonoff said the previous owner was tired and ready to sell. Baby boomers preparing for retirement are driving a surge in small business sales, as they find more and more buyers confident enough in the improving economy to expand their own businesses through acquisitions.In the first three months of this year, ...

How to prepare for your parents retirement

Mon, 20 May 2013 09:25:14 -0400

It may be tough, but we have to consider our parents' retirement as part of our own future. When Eileen Crehan thinks about her parents' retirement plans, she worries.The 27-year-old PhD candidate, like many young adults, knows that her parents' future finances aren't only a source of concern for them--they directly impact her life as well."They are careful spenders and ...

Big reason for stock boom Companies buying back stocks

Mon, 20 May 2013 09:25:13 -0400

Arthur Laffer, Chairman, Laffer Associates, and Dan Greenhaus, BTIG, discuss the Obama economy in light of tepid profits. Seema Mody weighs in on why the market is still the place to be. It's the narcissist rally.Sure, there are plenty of forces pushing stocks higher -- record corporate earnings, small investors finally buying again, signs the U.S. economy may be strengthening, central banks ...

Boeing Dreamliners back in the air after lengthy grounding

Mon, 20 May 2013 09:25:12 -0400

A newly delivered Boeing 787 Dreamliner touches down at the Haneda International airport in Tokyo on May 16, 2013. After 123 days being grounded and then repaired to ensure its battery systems do not catch ...

Farm waste may demand return of biofuels

Mon, 20 May 2013 09:25:12 -0400

A combine hitched with a Cob Caddy gathers corn and cobs while blowing stover back into the field on a farm near Hurley, S.D. in this October 2007 file photo. The equipment was being tested by Poet as part of the company's effort to make cellulosic ethanol out of corn cobs. Imagine a world where leftover corn, wheat and wood chips could power your car.That's the aim of cellulosic ...

Yahoo Buys Tumblr As David Karp Stays As CEO

Mon, 20 May 2013 09:23:06 -0400

Internet giant Yahoo! has bought micro-blogging site Tumblr in a deal thought to be worth around $1.1bn (723m). Yahoo! chief Marissa Mayer confirmed the anticipated takeover in a statement posted on the site - in which she also said Tumblr founder David Karp would stay on as chief executive. "I'm delighted to announce that we've reached an agreement to acquire Tumblr," ...

Former GOP Senator Judd Gregg named CEO of lobbying group SIFMA

Mon, 20 May 2013 09:18:30 -0400

NEW YORK (Reuters) - The Securities Industry and Financial Markets Association named former Republican Senator Judd Gregg as its chief executive officer, the lobbying group said ...

Campbell earnings rise on ready-made soup sales

Mon, 20 May 2013 09:16:48 -0400

-0.46% reported its third-quarter profit rose to $181 million, or 57 cents a share, from $177 million, or 55 cents a share, a year earlier. Adjusted earnings per share were at 62 cents per share, compared with 56 cents per share a year earlier. Revenue rose to $2.09 billion, from $1.82 billion a year earlier, the food company said Monday. Analysts had expected earnings of 56 cents a share on ...

Plains Exploration to Pay $3 Special Dividend if Freeport-McMoRan Deal Closes

Mon, 20 May 2013 09:16:01 -0400

Plains Exploration & Production Co.'s (PXP) board declared a special dividend of $3 a share, which is conditioned upon the oil company's completed merger with Freeport-McMoRan Copper & Gold Inc. (FCX).Plains Exploration shareholders are scheduled to vote on the deal Monday.Freeport-McMoRan agreed in December to pay the cash-and-stock equivalent of $50 a share for Plains ...

HSBC John Thornton to Resign Chairmanship Of HSBC North America

Mon, 20 May 2013 09:16:01 -0400

Banking and financial services provider HSBC Holdings PLC (HSBA.LN), said Monday that John L. Thornton has decided not to seek re-election to the board of HSBC at the Annual General Meeting on May 24, and to resign his Chairmanship of HSBC North America Holdings Inc. with effect from the same date.MAIN FACTS:-John L. Thornton, an independent non-executive Director of HSBC Holdings PLC has decided ...

Stock Futures Tick Lower

Mon, 20 May 2013 09:15:57 -0400

FOX Business: Capitalism Lives Here U.S. stock-index futures fell mildly on Monday as traders mulled a smattering of corporate news and braced for a week full of headlines on the Fed's monetary-policy stance. Today's Markets As of 8:00 a.m. ET, Dow Jones Industrial Average futures fell 11 points to 15304, S&P 500 futures dipped 1.3 points to 1662 and Nasdaq 100 futures slumped 4 ...

Cybercrime that starts with a phone call

Mon, 20 May 2013 09:13:53 -0400

phishing attacks are getting more sophisticated. And the latest trend in cybercrime appears to include a preparatory phone call. Security software company Symantec is reporting a variation on such schemes that it calls "spear phishing." The targeted company still gets a malware-packed email disguised as a legitimate business message, but the twist is that the criminal calls ahead to let ...

Yahoo Tumblr deal a play for young mobile users

Mon, 20 May 2013 09:13:53 -0400

Yahoo announced the acquisition of the blogging site Tumblr , after the Yahoo board approved the $1.1 billion purchase on Sunday. The Tumblr acquisition is said to be part of Yahoo CEO Marissa ...

Chesapeake names Robert Douglas Lawler as new CEO

Mon, 20 May 2013 09:13:52 -0400

CHK ) has named Anadarko Petroleum executive Robert Douglas Lawler as its new CEO. The appointment of the 46-year-old Lawler comes after a tough year for Chesapeake. Its former ...

Long-term care Ignore it at your own peril

Mon, 20 May 2013 09:13:50 -0400

Will good health save you money in retirement? If you've done a good job with this difficult task, congratulations! But you're not finished yet. There's one more step to this task: Protect your good plans from getting blown up by potentially ruinous long-term care expenses. Welcome to Week 14 of my ...

Yahoo buys blogging forum Tumblr for $1.1 billion in boldest move yet under CEO Marissa Mayer

Mon, 20 May 2013 08:40:12 -0400

SAN FRANCISCO - Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times. The deal announced Monday represents Mayer's boldest move yet since she left Google 10 months ago to lead Yahoo's latest comeback attempt. It marks Yahoo's most expensive acquisition since the Sunnyvale, Calif., ...

In survey economists says consumers poised to boost spending offset government cuts

Mon, 20 May 2013 08:40:11 -0400

WASHINGTON - Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists. The economists predict that the U.S. economy will grow 2.4 percent this year and 3 percent next year. That's unchanged from their forecast in February. But they are more bullish on consumer spending and housing than they were ...

Consumer Spending to Pick Up Survey

Mon, 20 May 2013 08:31:31 -0400

Consumer spending is likely to pick up this year, while government spending declines at a faster rate, according to a survey of business economists. The economists predict that the U.S. economy will grow 2.4 percent this year and 3 percent next year. That's unchanged from their forecast in February. But they are more bullish on consumer spending and housing than they were three months ago, ...

Actavis to Buy Warner Chilcott

Mon, 20 May 2013 08:31:30 -0400

Actavis , which has been the subject of intense takeover speculation, said on Monday that it had struck a deal to buy specialty pharmaceuticals ...

GE Capital to Pay Big Dividend to GE

Mon, 20 May 2013 08:31:30 -0400

General Electric , will return $6.5 billion worth of dividends back to its parent company over the course of the year, the company announced on Monday. In a statement, GE Capital said that the big dividend would constitute 30 percent of its total 2013 earnings, having already paid $447 million back to GE in the first quarter. The company also plans to pay $4.5 billion in special dividends back to ...

Dell to Icahn Cannot disclose more information

Mon, 20 May 2013 08:28:27 -0400

Dell Inc said in a letter to suitors Carl Icahn and Southeastern Asset Management that the company would not provide more information about itself unless the board determined that their proposal was "superior" to founder Michael ...

FirstGroup Shares Plunge Amid 87 Profit Drop

Mon, 20 May 2013 08:23:14 -0400

Shares in the transport company FirstGroup have plunged dramatically after it announced a 615m fund-raising rights issue in a bid to reduce its heavy debt burden. During midday trading the shares had dropped more than 20% to 179p. The move comes after the bus and train company's latest results showed that pre-tax profits dropped by a massive 87% to £37m last year. First Group ...

Actavis to buy Warner Chilcott in $8.5 billion stock deal

Mon, 20 May 2013 08:19:05 -0400

SAN FRANCISCO - Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash, the Wall Street Journal cited people familiar with the matter as saying on ...

Stock futures little changed after records acquisitions eyed

Mon, 20 May 2013 08:19:04 -0400

NEW YORK (Reuters) - Stock index futures were little changed in light volume on Monday as investors search for catalysts after major equity indexes closed Friday for a fourth consecutive week of ...

Unclear whether Feds bond buying has helped economy Fisher

Mon, 20 May 2013 08:19:04 -0400

Federal Reserve Bank of Dallas President Richard Fisher speaks about the concept of breaking up 'too big to fail' banks to a breakout group at the Conservative Political Action Conference (CPAC) in National Harbor, Maryland, March 16, ...

Europe Markets Europe stocks slip as miners slump

Mon, 20 May 2013 08:17:06 -0400

LONDON (MarketWatch) -- European stock markets tracked U.S. stock futures lower in choppy trade on Monday, with mining firms dropping after broad-based losses in metals ...

Campbell Soup 3Q Profit Rises

Mon, 20 May 2013 08:16:24 -0400

M – Campbell Soup Co reported higher quarterly earnings on Monday, after the company worked to improve its soup products. The world's largest soup maker said net income was $181 million, or 57 cents per share, in the fiscal third quarter ended April 28, up from $177 million, or 55 cents per share, a year ...

Banco do Brasil to Post One-Time Gain of BRL4.7 Billion in Second Quarter Due to BB Seguridade IPO

Mon, 20 May 2013 08:16:24 -0400

Banco do Brasil (BDORY, BBA3.BR), Latin America's largest bank in terms of assets, on Monday said it will post a one-time gain worth 4.7 billion Brazilian reais ($2.35 billion) in the second quarter as a result of the initial public offering of its pensions and insurance company.Earlier this year, state-run Banco do Brasil SA said it raised BRL11.47 billion in the spinoff of BB Seguridade ...

Chinas Fosun Eyes $1 Billion Private-Equity Fund

Mon, 20 May 2013 08:16:24 -0400

Chinese conglomerate Fosun International Ltd. (0656.HK) is raising a $1 billion private-equity fund that will invest in Europe and international companies seeking to expand in China, according to a person familiar with the situation.The company, which has made investments in companies like French resort operator Club Mediterranee S.A. (CU.FR), will have the first close of the China Momentum Fund ...

European Shares Stall at Five-Year High

Mon, 20 May 2013 08:16:16 -0400

European shares extended gains to set a new five-year high for a fourth straight session on Monday, with investors flocking to buy riskier assets such as equities on fresh signs of a recovery in the global economy. At 0707 GMT, the FTSEurofirst 300 index of top European shares was 0.2 percent firmer at 1,250.68 points, the highest since the middle of 2008. The index is up more than 10 percent so ...

Microsoft to unveil new Xbox Tuesday

Mon, 20 May 2013 08:16:15 -0400

Microsoft will unveil its new Xbox on Tuesday. What's underneath the hood of the latest videogame console represents a multiyear odyssey of trying to figure out how to keep the machine "cool" in the age of smartphones and tablets. Since the last Xbox debuted in 2005, Microsoft has produced multiple prototypes for a new console and experimented with different technologies for it, ...

Seeking solutions to the student aid mess

Mon, 20 May 2013 08:14:27 -0400

financial aid system in this country is broken. There are many reasons why the system needs to be overhauled, but let's start with this one: the federal government is profiting tremendously when it lends money to college students and their parents. According to a report released earlier this year by ...

Student loans -- public or private

Mon, 20 May 2013 08:14:27 -0400

(MoneyWatch) Need to borrow to finance college? You've got plenty of company. Roughly two-thirds of students do. However, it's important to understand that there are two distinct student loan ...

LinkedIn 3 tips for building a better profile

Mon, 20 May 2013 08:14:26 -0400

LinkedIn profile should constantly evolve along with your experience and interests. Frequent updates keep the content current, and new activity enables you to stay on people's digital radar. If you've already mastered the basics of LinkedIn -- ...

Can a rise in crime increase your property value

Mon, 20 May 2013 08:14:26 -0400

(MoneyWatch) It may seem strange, but crime could actually make your home more valuable. A new study reveals that when crime goes up, property values can too -- as long as the crime is happening in the next town over. It should come as no surprise that safety is a vital factor when buying a new home. For 20,000 home shoppers surveyed by researchers at John Burns Real Estate Consulting, a ...

Is Yahoo Paying Too Much for Tumblr

Mon, 20 May 2013 08:13:03 -0400

Morning Business Memo… Yahoo is spending $1.1 billion to buy the six-year-old blogging site Tumblr. The acquisition is the biggest yet for Yahoo CEO Marissa Mayer, and is part of her continuing push to give Yahoo credibility with a younger crowd, and make it a big player in the rapidly expanding world of social media and mobile devices. Tumblr is a popular site with an estimated 100 ...

Effector Therapeutics raises $45 million

Mon, 20 May 2013 07:40:58 -0400

Effector was founded on technology licensed from UC San Francisco. The company is developing small-molecule drugs to block protein synthesis mechanisms required for cancers caused by certain malfunctioning oncogenes. Effector will also use the protein synthesis technology later in other areas, Worland ...

Wall Street Turns Cautious As It Awaits Fresh Catalysts

Mon, 20 May 2013 07:40:23 -0400

Trading in the major U.S. index futures suggest a cautious start by Wall Street stocks on Monday following their record run in the previous weeks. Earlier in the global trading day, armed with optimism concerning the ...

Eliminating neglected tropical diseases how to reach the targets

Mon, 20 May 2013 07:34:31 -0400

Create synergies with other disease-specific advocates: Broadening the NTD community reach should include working with other disease-specific advocates to look at the synergies between NTDs and other diseases with high global burdens such as TB, malaria, HIV & Aids, and diarrhoea? If we can get other health advocates talking about NTDs, we stand a greater chance of increasing the pressure on ...

QE Halt Too Violent for Market Feds Fisher

Mon, 20 May 2013 07:32:09 -0400

Federal Reserve should not go from "wild turkey" monetary policy to "cold turkey" overnight, Dallas Fed President Richard Fisher told CNBC on Monday, saying that when to dial back is the key because stopping would be "too violent for the market." Fed ...

Goldman Sachs to Exit ICBC Report

Mon, 20 May 2013 07:32:09 -0400

Goldman Sachs on Monday launched the sale of about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China, offering to sell its entire remaining stake in the world's biggest bank by market value. The sale by Goldman would be the final chapter in the Wall Street bank's investment into China's ICBC. Prior to its 2006 IPO, ICBC was a technically ...

Bison Eyes London Float Amid US Fracking Boom

Mon, 20 May 2013 07:25:10 -0400

UK stock market investors are poised to gain their first exposure to the fracking boom sweeping the US energy market through the flotation of Bison Energy Services. I understand that Bison, whose operations are focused solely on the US, has begun gauging the appetite of investors to invest about £40m in the company, which would list on the junior AIM market. Bison would be the first ...

EU law key to ending too big to fail banks BoEs Tucker

Mon, 20 May 2013 07:24:42 -0400

View Photo Reuters/Reuters - The Deputy Governor of the Bank of England, Paul Tucker, addresses the International Association of Deposit Insurers Annual Conference in London October 25, 2012. REUTERS/Neil ...

Shrinking U.S. deficit reduces pressure for budget deal

Mon, 20 May 2013 07:21:41 -0400

By Jason Lange and David Lawder WASHINGTON (Reuters) - The chances of a deal between Democratic and Republican lawmakers that would overhaul the U.S. tax system, trim government spending and reform safety net spending programs appear to be fading. ...

GE Capital plans to pay $11 billion in dividends to GE

Mon, 20 May 2013 07:21:15 -0400

(Reuters) - GE Capital Corp's board has approved a plan to pay $6.5 billion in dividends and a further $4.5 billion in special dividends to parent General Electric Co ...

Monster machines fan out on U.S. farms facing slow sow

Mon, 20 May 2013 07:21:15 -0400

SHERIDAN, Illinois (Reuters) - With the U.S. spring planting season off to a historically slow start, an increasing number of farmers are counting on powerful tools to catch up: Monster machines that sow 36 rows of corn at once and feature high-tech innovations like computer-guided directional ...

Gulf wealth funds raising private equity investments study

Mon, 20 May 2013 07:21:14 -0400

DUBAI (Reuters) - Sovereign wealth funds in the Gulf Arab region are raising their allocations to private equity investments at a faster rate than other types of investment, U.S. fund manager Invesco ...

Vodafone withdraws from BT mobile partner talks sources

Mon, 20 May 2013 07:21:14 -0400

BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new ...

Goldman Sachs selling ICBC stake for $1.1 bln

Mon, 20 May 2013 07:19:37 -0400

+2.40% is selling its entire stake in Industrial & Commercial Bank of China Ltd. for around US$1.1 billion, exiting an investment it made in China's biggest bank seven years ...

HSBC Chairman Premature to Review UK Domicile

Mon, 20 May 2013 07:19:04 -0400

HSBC Holdings PLC (HBC) Chairman Douglas Flint said Monday that it's premature to review its decision to be based in London before global regulations are settled."The regulation landscape is changing, still...quite significantly," he said during a shareholders' meeting."Until that is done, it is very difficult" to decide where an international bank should be based, ...

UK Business Minister RBS Lloyds Too Risk-Averse on Loans to Firms

Mon, 20 May 2013 07:19:01 -0400

The Royal Bank of Scotland Group PLC (RBS) and Lloyds Banking Group PLC (LYG) are still detering smaller British companies from borrowing due to overly strict conditions, hindering an economic recovery, Business Secretary Vince Cable said Monday.The government controls RBS and has a minority stake in Lloyds, two of the biggest banks in the U.K., but Mr. Cable said "there isn't a simple ...

Chinese Communist Party Expels Former Agricultural Bank Executive -Xinhua

Mon, 20 May 2013 07:18:59 -0400

A former vice president of Agricultural Bank of China Ltd. (601288.SH), the country's third-largest lender by assets, has been expelled from the Chinese Communist Party for taking bribes, the state-controlled Xinhua News Agency reported Monday.Yang Kun, a former executive director and vice president of the bank, was found to have taken bribes, Xinhua reported, citing the results of an ...

Gold Slump Hits Silver

Mon, 20 May 2013 07:18:57 -0400

Gold's longest slump since the financial crisis extended for an eighth day, with the tumble spilling over into silver, which fell to its lowest level since 2010.Falling appetite for the safe haven of gold has pushed the metal down 20% since the start of the year as inflation fears faded and global growth improved. In Asia, investors have zeroed in, especially on Japan where the central ...

UK Business Leaders Say Economic Case For UK Staying In EU Is Overwhelming

Mon, 20 May 2013 07:18:57 -0400

A group of top U.K. business leaders Monday said the financial case for Britain staying within the European Union was overwhelming and accused lawmakers promoting an exit from the bloc as putting "politics before economics".In a letter to The Independent newspaper, the group called for the government to fight to deliver a more competitive Europe in order to combat the criticisms of ...

RPT-New Xbox more than a game console for Microsoft

Mon, 20 May 2013 06:59:56 -0400

Mon May 20, 2013 6:59am EDT * Microsoft set to unveil new Xbox Tuesday * Renews contest with Sony, Nintendo for $65 bln game market * Xbox key to Microsoft's broader push into consumers' lives By Malathi Nayak and Bill Rigby SAN FRANCISCO/SEATTLE, May 18 (Reuters) - Microsoft Corp is set to make a splash this week with the eagerly awaited unveiling of its new Xbox game console, eight ...

Markets solid despite Fed policy speculation

Mon, 20 May 2013 06:44:15 -0400

A man under an umbrella walks past an electronic stock board of a securities firm in Tokyo Monday, May 20, 2013. Japan's Nikkei 225 index jumped 1.4 percent to 15,352.84 as evidence of a steady economic recovery in the U.S. helped push Asian stock markets higher Monday. (AP Photo/Koji ...

Market Snapshot Stock futures flat no data Fed’s Evans to speak

Mon, 20 May 2013 06:40:47 -0400

MADRID (MarketWatch) -- U.S. stock market futures pointed to a flat open on Monday, with investors seen taking a breath after a blockbuster prior week. There's no data on the calendar, though Chicago Federal Reserve President Charles Evans is due to ...

How going pop-up helped us sell our ponchos

Mon, 20 May 2013 06:38:27 -0400

Katy Isaacs and Julia Wonke, co-founders of poncho company Rainwave, started online but jumped at the opportunity to use a pop-up space on the King's Road. Here Katy tells their ...

Monday Newspaper Review - Irish Business News and International Stories - - May 20 2013

Mon, 20 May 2013 06:38:00 -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 ...

Hedge Fund Owner Cohen Gets Subpoena to Testify

Mon, 20 May 2013 06:35:43 -0400

SAC Capital Advisors , a development that signals a newly aggressive phase in the multiyear inquiry, according to lawyers and executives briefed on the case.Issued last week, the grand jury subpoena came as part of a broader round of requests from criminal authorities. Other SAC executives were also named in the subpoenas, the lawyers and executives said, and the fund itself received requests for ...

Stocks Getting Scarce as Rally Sees No End

Mon, 20 May 2013 06:35:42 -0400

Federal Reserve and other central banks is limiting supply of stocks, as well as fueling asset bubbles, analysts warned on Monday. "We do not think investors fully grasp the degree to which the Fed's easy money policies are helping limit the supply of shares and boost the demand for shares," said David Santschi, the CEO of TrimTabs Investment Research, in a note on Monday. He ...

Help Your Kids Get A in Money Matters

Mon, 20 May 2013 06:19:23 -0400

It's graduation season. Did your teenager have to take a financial literacy course to don that cap and gown? Probably not. According to the Council for Economic Education, as of 2011, 22 states required high school students to take an economics class --the "supply and demand" type, not the "how to balance your checkbook type." Only 14 states offered personal finance as a ...

Asian Stocks Rise On Growth Optimism

Mon, 20 May 2013 05:47:16 -0400

Asian stocks rose on Monday, extending a two-week rally, as an upbeat reading on U.S. consumer confidence bolstered optimism about the economic recovery in the world's ...

FTSE 100 on course for best level since 2000

Mon, 20 May 2013 05:42:04 -0400

currently on course for its best level since 2000.If the trend in early trading continues, the index is set to beat its 2007 peak of 6732, with the next test the 6752 achieved in September 2000.At the moment the index is 12.37 points higher at 6735.43, as investors continue to take heart from the continuing actions by central banks to stimulate the global economy. Worries about what happens when ...

Chelsea Flower Show bankers network among the narcissi

Mon, 20 May 2013 05:42:01 -0400

Chelsea Flower Show is where the City hopes to cultivate new business.While the TV cameras will be trained on the Queen's visit and gardening royalty such as Alan Titchmarsh and Carol Klein for the horticultural event's centenary year, big corporates rule the rudbeckias after 7pm.The show's gala dinner attracts some of the top names in business, politics and banking, the highlight ...

Google’s chief supports corporate tax reform

Mon, 20 May 2013 05:41:37 -0400

Eric Schmidt, Google's executive chairman, on Sunday gave support to corporate tax reform - - quite a change from last December when he dismissed critics of tax ...

Scotland Risks Cyprus-Style Crisis UK Report

Mon, 20 May 2013 05:39:53 -0400

An independent Scotland is at risk of a Cyprus-style banking crisis, as its banking sector would be "exceptionally large" compared to the size of its economy, a U.K. government report has said. "An independent Scotland would have an exceptionally large banking sector compared to the size of its economy - with banking assets of more than 1250 percent of Scottish [gross domestic ...

Empty Stores In Malls And Retail Parks Spread

Mon, 20 May 2013 05:33:32 -0400

A surge in shopping centre vacancies means almost one in every eight British stores is now empty, according to a new survey. Empty shops now account for 11.9% of retail space, after failures including Comet and Jessops knocked holes in the shopping hubs and out-of-town retail parks. The percentage of UK shop vacancies in April worsened from 10.9% in January and was the highest rate since ...

EU Eurosceptic MPs Warned By Business Leaders

Mon, 20 May 2013 05:33:32 -0400

Some of Britain's most successful business leaders have accused eurosceptic politicians of abandoning the national interest to push for an EU exit. Sir Martin Sorrell, chief executive of WPP Group, told Sky News that the business community felt "very uncomfortable" about talk of Britain leaving the European Union and that the anti-European rhetoric was "fundamentally a ...

Xbox 720 five key points about Microsofts new generation

Mon, 20 May 2013 05:27:56 -0400

Xbox machine, which still doesn't have a name - although Infinity is a frontrunner once again. Taking place at the Microsoft HQ in Redmond, the event will be live-streamed across the globe, and should ...

LONDON MARKETS U.K. Stocks Extend Gains As Banks Rise

Mon, 20 May 2013 05:27:27 -0400

LONDON – Banks led U.K. stocks higher in an upbeat session on Monday, while resource firms added pressure after oil and metals prices showed broad-based losses.The FTSE 100 index added 0.2% to 6,737.26, building on gains from Friday, when the index climbed to the highest closing level since October 2007.Shares of budget airline EasyJet PLC jumped 4.6%, after peer firm Ryanair Holdings PLC ...

Cathay Financial Signs Cooperation Pact With China Merchants Bank

Mon, 20 May 2013 05:27:27 -0400

Taiwan's Cathay Financial Holdings Co. (2882.TW) said Monday it signed a pact with China Merchants Bank (3968.HK) on possible cooperation in the future.Cathay Financial said in a statement this is the company's seventh such pact with a Chinese lender, as it is driving to expand outside its saturated home market.The pact is a framework agreement that for future cooperation in or exchange ...

ENRC Unveils Details Of Consortiums Rejected Cash and Shares Offer

Mon, 20 May 2013 05:27:27 -0400

U.K.-listed, Kazakhstan-focused miner Eurasian Natural Resources Corp. PLC (ENRC.LN) Monday unveiled the details of the indicative cash and shares offer that a consortium of buyers proposed but which ENRC rejected on the grounds that it materially undervalues the business.The consortium of buyers, which includes the company's three founding shareholders--Alexander Machkevitch, Alijan ...

United Airlines to resume 787 Dreamliner flights

Mon, 20 May 2013 05:25:38 -0400

United Airlines is getting its 787s back in the air. The planes are returning after being grounded for four months by the federal government because of smoldering batteries on 787s owned by other airlines. The incidents included an emergency landing of one plane, and a fire on another. The incidents never caused any serious injuries. But the January grounding ...

Eurozone crisis live Economic optimism drives markets higher

Mon, 20 May 2013 04:46:58 -0400

higher than in February, a somewhat encouraging sign for the future . Industrial sales (as opposed to future orders) tumbled 7.6% year-on-year, and were down 0.9% on a monthly ...

How to design your ideal life

Mon, 20 May 2013 04:46:56 -0400

Martin Bjergegaard with his daughter Mynte, when she was younger. 'I wanted to show my dad that being successful didn't mean you couldn't have a good life ...

Will Pinterest Ruin Your Wedding

Mon, 20 May 2013 04:43:55 -0400

There are certain things no one tells you when you start planning a wedding. No one mentions that much of the process - booking vendor appointments, e-mailing color swatches, creating complex Excel spreadsheets of guest lists, sending out piles of mail - is a lot like having a second job as a receptionist. No one tells you that the economics of buying a wedding dress are roughly the same as ...

North Korea fires fifth missile in three days

Mon, 20 May 2013 04:43:27 -0400

North Korea fired another short-rangemissileinto the Sea of Japan on Monday, the latest in a series ofmissiledrills that have been condemned by South Korea and UN chief Ban ...

Morgan Stanley To Sell India Wealth Management Assets to Standard Chartered Bank

Mon, 20 May 2013 04:30:21 -0400

Morgan Stanley (MS) Monday said it is selling its Indian wealth management business to Standard Chartered PLC (STAN.LN) for an undisclosed sum."Morgan Stanley will work closely with Standard Chartered over the coming months to ensure a smooth transfer of our wealth management clients currently serviced in India," the U.S. investment bank said in an emailed statement. "This process ...

Obama to address Guantanamo prison drone program

Mon, 20 May 2013 04:23:12 -0400

Obama will address the U.S. secret drone program's legality and his pledge to shut the Guantanamo Bay detention camp, a White House official said. Obama will address them in a speech Thursday at the Defense Department's National Defense University in Washington -- a speech that will focus on how he intends to bring his counter-terrorism policies in line with the legal structure and ...

India Resource Center Coca-Cola Plant Shut Down in India

Mon, 20 May 2013 04:21:04 -0400

Chinta Dewi, Coca-Cola Bhagao, Krishi Bachao Sangharsh Samiti +91 94507 79325 (Hindi) Nandlal Master, Lok Samiti +91 94153 00520 (Hindi) Amit Srivastava, India Resource Center +91 98103 46161 (India) +1 415 336 7584 ...

American Rights At Work Formal Complaint for FEC Investigation of Wal-Marts Unlawful Federal Election Activity

Mon, 20 May 2013 04:21:04 -0400

Formal Complaint for FEC Investigation of Wal-Mart's Unlawful Federal Election Activity WASHINGTON - August 14 - Today American Rights at Work, the AFL-CIO, Change to Win, and WakeUpWalmart.com will hand ...

WakeUpWalmart.com Files Official Complaint Against Wal-Mart With The FEC and Calls For An Investigation

Mon, 20 May 2013 04:21:03 -0400

WakeUpWalmart.com Files Official Complaint Against Wal-Mart With The FEC and Calls For An Investigation WASHINGTON - August 14 - WakeUpWalMart.com today, along with American Rights at Work, Change to Win, and the American Federation of Labor and Congress of Industrial Organizations, jointly filed an official complaint with the Federal Election Commission. The groups filed the complaint of ...

Microsoft office goes cloud to join cloud war with Google Docs

Mon, 20 May 2013 04:16:41 -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 ...

Metals Stocks Gold extends losing streak as bearish bets rise

Mon, 20 May 2013 03:55:17 -0400

LOS ANGELES (MarketWatch) -- Gold futures dropped Monday, facing an eighth straight session of losses, with data showing an increase in bearish bets on the precious metal, while silver futures were on track for their steepest decline in a ...

Ryanair profits and customers rise

Mon, 20 May 2013 03:53:03 -0400

Europe will dampen growth this year.The Dublin-based company, which operates on more than 1,600 routes, carried 79.3 million passengers in the year to 31 March, an increase of 5% on a year earlier as revenues improved 13% to EUR4.8bn (4.1bn).Post-tax profits rose to EUR569m and the airline is hopeful of another rise this year, albeit at a slower rate of growth as economic conditions put pressure ...

High inflation here to stay says leading forecaster

Mon, 20 May 2013 03:53:02 -0400

inflation was here to stay.The Ernst & Young Item Club, which uses the Treasury's model of the UK economy for its forecasts, estimates that persistently high inflation has already knocked almost 3% off UK growth in the last three years.It expects inflationary pressures to peak over the summer and said it is unlikely the CPI measure will dip below 2.5% over the next four years.While the ...

Yahoo expected to announce acquisition of Tumblr for $1.1bn

Mon, 20 May 2013 03:52:36 -0400

Marissa Mayer, the former Google executive who is now chief executive of the listing web content company, is signalling a desire to give the company more social media strength and Tumblr, which was founded in 2007 by David Karp, then 21, in a bedroom in his mother's apartment in New York, is the lucky entrepreneur to ...

Some French Households Taxed at 100

Mon, 20 May 2013 03:50:58 -0400

More than 8,000 French households' tax bills topped 100 percent of their income in 2012, a French newspaper reported. Citing data from France's finance ministry, ...

UPDATE 1-Ryanair shares hit record after earnings top forecasts

Mon, 20 May 2013 03:49:53 -0400

Mon May 20, 2013 3:49am EDT * FY net 569 mln eur vs f'cast 558 mln in company poll * Buoyed by 6 pct rise fares, extras up 20 percent * Says profit growth may be flat in year ahead * High fuel, wait for new planes to weigh on profit * Shares up more than 5 pct, high record high (Updates with shares up 5 pct; CFO says guidance 'cautious') By Conor Humphries DUBLIN, May 19 (Reuters) - ...

21 most expensive U.S. zoos

Mon, 20 May 2013 03:05:34 -0400

U-T San Diego surveyed more than 40 public and nonprofit zoos to identify the most expensive in the U.S. Family admission prices, and membership costs, were based on tickets for two adults and two children, 8 and 13. ...

Zoo price is as high as its profile

Mon, 20 May 2013 03:05:34 -0400

The zoo this year costs $44 for adults and $34 for children under 13, after a series of annual increases. Since 2009, the cost of admission has gone up 26 percent for grown-ups and 31 percent for ...

Oil prices down ahead of key economic data

Mon, 20 May 2013 03:04:54 -0400

The price of oil fell today ahead of the release later this week of economic data from the US and China, the world's two largest economies, and a speech by the Federal Reserve chief. Benchmark crude for June delivery was down 25 cents to $95.77 a barrel on the New York Mercantile Exchange. The contract rose 86 cents to close at $96.02 a barrel on Friday. Brent crude, a benchmark for many ...

If CDFIs are forced to get ruthless social enterprise will suffer

Mon, 20 May 2013 02:59:18 -0400

I've worked in the social enterprise sector for 15 years and one challenge that's always been there is doing good and doing well - the balance of delivering social and financial returns.And I don't think it's getting any easier.Take community development finance institutions (CDFIs) as an example. They are social enterprises that deliver ethical financial services to those ...

Australian shares trim early rally edge higher on Wall St weak $AU

Mon, 20 May 2013 02:52:23 -0400

Mon May 20, 2013 2:52am EDT (Adds details, comments) SYDNEY May 20 (Reuters) - Australian shares finished the session 0.5 percent higher on Monday, underpinned by a broad rally as upbeat economic data propelled Wall Street to record highs. Stocks with a large exposure to the U.S. gained on the weaker Australian dollar. The Australian dollar steadied after reaching multi-month lows against the ...

Ryanair Profit Up 13 But Expects Slowdown

Mon, 20 May 2013 02:50:31 -0400

Budget carrier Ryanair has posted record full-year earnings but warned profit growth would slow sharply in the coming 12 months. It expects the slowdown to be caused by weakness in the European Union and high fuel and airport costs. Europe's largest budget airline reported net profit of 569m euros (£480m) for the 12 months to the end of March, up 13%. The full-year return beat ...

Tax Havens Cameron Warns Over Transparency

Mon, 20 May 2013 02:50:30 -0400

Britain's offshore tax havens have been warned to enforce regulations and improve transparency to avoid evasion by individuals and companies. The Prime Minister has written to nearly a dozen leaders of the havens, stressing the need to "get our own houses in order" as he pushes for international action to tackle avoidance schemes. In a message to 10 crown dependencies and ...

NY regulator questions investment firms ties to insurers WSJ

Mon, 20 May 2013 02:46:45 -0400

(Reuters) - New York's top financial regulator has sent subpoenas to several firms seeking information on investments that guarantee steady payments to hundreds of thousands of retirees and other consumers, the Wall Street Journal said on Monday, citing people familiar with the ...

Elan strikes more deals agrees second share buyback

Mon, 20 May 2013 02:46:45 -0400

DUBLIN (Reuters) - Irish drug firm Elan agreed on Monday to buy two private drug firms, spin-off its one experimental drug and buy back more shares to give a firmer idea of how the company will be reconfigured as shareholders weigh up a takeover ...

Weak economic data weigh on yields

Mon, 20 May 2013 02:44:31 -0400

Sovereign debt markets inched down early in the week but rallied at the end of the week after economic data disappointed - Greek and Portuguese yields declined sharply after the positive assessments from the Eurogroup for both countries, and after Fitch upgraded the Greek sovereign rating to B- from CCC. In the week, the Greek 10Y yield fell by 142bps, while the Portuguese decreased by 21 and the ...

Elan eyes more deals this year with $1 billion warchest

Mon, 20 May 2013 02:44:18 -0400

DUBLIN – Elan will still have $1.2 billion of cash left to spend if shareholders approve its first package of acquisitions, and plans to announce more deals in the second half of the year, chief executive Kelly Martin said on Monday. Elan agreed on Monday to buy Austrian rare drug specialist AOP Orphan for 263.5 million euros ($337 million) and pay $40 million for a 48 percent stake in ...

Wall Street betting on last-minute debt deal

Mon, 20 May 2013 02:31:14 -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 ...

Price of oil falls below $96 per barrel as traders await data Fed chief Bernankes speech

Mon, 20 May 2013 02:14:11 -0400

BANGKOK - The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world's two largest economies, and a speech by the Federal Reserve chief. Benchmark crude for June delivery was down 25 cents to $95.77 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 86 cents to close at ...

Asian stocks rise on signs of steady US recovery

Mon, 20 May 2013 02:13:57 -0400

Investors will have a slew of data to sift through this week, including U.S. homes sales and durable goods orders. Analysts are somewhat pessimistic about the strength of China's recovery but are expecting to see solid improvement in the ...

Futures Movers Oil prices decline break away from $96

Mon, 20 May 2013 02:10:13 -0400

LOS ANGELES (MarketWatch) -- U.S. crude-oil futures slipped Monday, pulling back from gains in the previous session after a firmer view of the economy by consumers raised prospects for energy ...

Tesco’s clothing brand plans expansion

Mon, 20 May 2013 02:08:59 -0400

London - The clothing brand sold by Britain's biggest retailer Tesco said on Sunday it planned to open more than 50 new franchise stores worldwide over the next five ...

Microsoft organises information technology workshop for students

Mon, 20 May 2013 02:07:28 -0400

Accra, May 20, GNA - Microsoft, a global ICT giant, has organised an information technology workshop, to motivate Ghanaian students to develop applications that can be used to solve real life problems in Ghana and the African ...

Why This Week Could See Start of of Risk-Off

Mon, 20 May 2013 02:05:29 -0400

We have seen bouts of reality emerging in phases, which have subsequently been washed over by the relentless search for yield, Slovenia's bond issue last week being a classic example. However, the deteriorating economic and political triggers in Europe appear likely to cause a bout of serious risk-off, starting early this ...

No Love for Metals - Silver Gets Slammed

Mon, 20 May 2013 02:05:28 -0400

. The metal fell victim to heavy selling on Monday, dragging gold down with it, on U.S. dollar strength and as investors turned more cautious on precious metals as an alternate investment, said experts. "We feel silver weakness has been a liquidation trade as investors grow increasingly wary of precious metals and traders are forced to close positions to meet margin calls elsewhere," ...

Chesapeake Energy hires Anadarko executive as CEO WSJ

Mon, 20 May 2013 01:55:25 -0400

APC.N ) as chief executive, filling the post vacated by co-founder Aubrey McClendon, the Wall Street Journal reported, citing people familiar with the ...

Insight The road to a greener America is littered with road-kill

Mon, 20 May 2013 01:51:07 -0400

Apart from the relative success of Tesla Motors Inc in putting nearly 10,000 of its pricey luxury electric cars on the road, the electric vehicle sector has been among the biggest duds in clean ...

Expectations high for Microsofts next Xbox game system

Mon, 20 May 2013 01:48:45 -0400

In this June 18, 2012 photo, Microsoft CEO Steve Ballmer comments on Microsoft Xbox before unveiling its new Surface. With the next Xbox expected to finally be revealed Tuesday at Microsoft's headquarters in Redmond, Wash., anticipation for what the company is planning for the next iteration of its gaming console is higher than Master Chief's last spaceship. (Damian ...

New Xbox will be star of show at Microsoft event

Mon, 20 May 2013 01:12:38 -0400

The video-game industry’s health meter is blinking red, and its ammo belt is nearly depleted. Industry players are crawling through the darkness, frantically looking for first-aid kits and new weapons to get back into the action. Down one path a pulsing green light beckons, promising resuscitation, new capabilities and another round of fun. The light is coming from Redmond, where on ...

SAC Capitals Cohen gets subpoena to testify NY Times

Mon, 20 May 2013 01:03:17 -0400

Hedge fund manager Steven A. Cohen, founder and chairman of SAC Capital Advisors, responds to a question during a one-on-one interview session at the SkyBridge Alternatives (SALT) Conference in Las Vegas, Nevada May 11, ...

A Look Ahead This Weeks ETFs to Watch

Mon, 20 May 2013 00:59:50 -0400

Sell in May and go away? Try again next year. After last week's gains, the S&P 500 is sitting on a 4.4 percent gain for the month heading into Monday's trading session. The benchmark U.S. index now resides less than 40 points away from the lofty 1,700 level. Indeed, this rally has plenty of critics, but talk from the naysayers has proven to be cheap and, more importantly, wrong. In ...

Insight The fight for North Dakotas fracking-water market

Mon, 20 May 2013 00:59:21 -0400

WATFORD CITY, North Dakota (Reuters) - In towns across North Dakota, the wellhead of the North American energy boom, the locals have taken to quoting the adage: "Whiskey is for drinking, and water is for ...

Analysis At margins of shale oil boom a tempered euphoria

Mon, 20 May 2013 00:59:20 -0400

HOUSTON/NEW YORK (Reuters) - For the past three years, the boom in the U.S. shale oil industry has outstripped all expectations. Production surged far faster than any forecasts; drillers raced to secure space in new pipelines to get their crude to ...

Dreamliner Back in Action After Hiatus

Mon, 20 May 2013 00:21:53 -0400

United Airlines 787 will fly from Houston to Chicago Monday morning carrying more than 250 passengers including the CEO's of United and Boeing. Given the massive amount negative publicity, including video of one Dreamliner with smoke drifting out of it in January, there are many wondering if people will be afraid to fly the plane. "There may be some who are concerned about flying on the ...

Should You Pay Off Your Exs Debt

Mon, 20 May 2013 00:06:01 -0400

and you are flailing in the icy waters of the North Atlantic, the banks are not rescuers, they're sharks. In other words, divorces can get messy -- sometimes really messy -- and it should come as no surprise that money is often at the root of the problem. Getting through the divorce is hard enough, but the money problems don't always end when the papers are signed. In fact, joint credit ...

Stem cell tech may help mitochondrial disease

Sun, 19 May 2013 23:38:26 -0400

production of genetically matched human embryonic stem cells holds potential for treating mitochondrial disease, because the matching is not precise. Somatic cell nuclear transfer, the method that produced Dolly the sheep, duplicates nuclear DNA from the donor nucleus, but not the mitochondria, which are those of the egg cell receiving the ...

Japanese Market Trades Higher On Wall Street Lead Weaker Yen

Sun, 19 May 2013 23:37:53 -0400

The Japanese stock market hit a new five-and-a-half year high on Monday, buoyed by Wall Street's gains on Friday and a weaker yen.In late-morning trades, the benchmark Nikkei 225 Index is trading at 15,323.49, up 185.37 or 1.22 percent, after climbing to 15,297.73, the highest intraday level since December 28, 2007.In the banking space, Mitsubishi UFJ Financial (MTU) is adding 0.29 percent ...

Grill and beer it

Sun, 19 May 2013 23:36:03 -0400

When you celebrate Memorial Day by throwing some dogs on the grill, you’ll need something to wash them down. That’s where these mags can come in.If you prefer your beers micro, fruity, infused with chocolate or laced with the heat of a thousand fire-kissed jalapenos, ...

Turness in furnace Hot day at NBC News

Sun, 19 May 2013 23:36:02 -0400

Incoming NBC News boss Deborah Turness better be a quick learner - her to-do list is already overflowing.While dealing with a recently cooled MSNBC and a faltering "Meet the Press" is enough to keep the first woman to head the Peacock network’s news division busy, the hugely underperforming "Today" show is certainly at the top of the list.Ad sales at the division are ...

Park it right there

Sun, 19 May 2013 23:36:02 -0400

When Barrel, a Little Italy-based digital agency, moved and designed its new office space from scratch in August, its brass envisioned a work environment tailored to the tastes of the growing company, and at the same time lent itself well for collaboration.The company’s new work space features small purple stools scattered throughout the office so co-workers can park quickly at each ...

Oil Holds Above $96 on US Economic Data

Sun, 19 May 2013 23:29:36 -0400

U.S. crude futures were steady in early Asian trading on Monday, holding above $96 a barrel after rallying last week on positive economic data in top oil consumer the United States. U.S. consumer sentiment in early May rose more than economists had expected, with more Americans giving favorable views about their financial and economic prospects, particularly among upper-income ...

Woah Time to Slow That Yen Fall

Sun, 19 May 2013 23:29:35 -0400

steep decline and Japan's policymakers are starting to voice their concern about the pace of the currency's move. The yen pulled back from four-and-a-half year lows against the dollar on Monday following a report in the Wall Street Journal that cited Japanese economy minister Akira Amari as saying the yen's excessive strength has now been largely corrected and further weakness in ...

Goldman Sachs to Invest in Japan Green Energy

Sun, 19 May 2013 23:15:07 -0400

TOKYO – Goldman Sachs plans to pour about Y300 billion ($2.9 billion) into Japanese renewable energy projects over the next five years, having determined that a long-term scheme here to buy renewables at fixed rates will provide a stable source of income, the Nikkei reported in its Monday morning edition.The U.S. investment bank recently set up a wholly owned renewable energy management ...

BOJ may seek ways to calm bond market policy on hold

Sun, 19 May 2013 22:46:40 -0400

By Leika KiharaTOKYO (Reuters) - The Bank of Japan is expected to stand pat on monetary policy this week despite jitters over the recent volatility in bond markets, hoping it can prevent a renewed spike in yields by fine-tuning market operations.The central bank may front-load bond purchases or offer funds via market operations more frequently if the bond market turbulence persists, which are ...

Minnesotas struggling ethanol makers hope to snap back this year

Sun, 19 May 2013 22:44:45 -0400

Dwayne Ehlert, 70, stands outside the shuttered Biofuels Energy Corp. ethanol plant in Fairmont, Minn. Ehlert, 70, who has been farming since 1964, sold a truckload of corn to the plant last August for a record $8.16 per bushel as last year‚Äôs drought drove up prices. A few weeks later, the plant stopped production, citing high corn prices. Although corn had dropped in price, ...

Bernanke’s Testimony Critical to Oil Prices

Sun, 19 May 2013 22:35:39 -0400

The U.S. dollar and its reaction to the Federal Reserve Chairman Ben Bernanke's Congress testimony on Wednesday will prove central for crude oil price direction this week, according to CNBC's weekly survey of market sentiment. Nine out of 13 respondents, or about 69 percent, expect prices to soften this week while two forecast gains and the remaining two are neutral on the market. ...

Has Hollywood Sold Out On Tibet

Sun, 19 May 2013 22:35:39 -0400

If there's one lingering sore point between Hollywood and China, it's Tibet. For years, celebrity activists have annoyed Beijing by organizing charity concerts for Tibetan independence, shouting "Free Tibet" at awards ceremonies, and palling around with the Dalai Lama, whom the People's Republic regards as a "jackal" and "a wolf in sheep's ...

Yen edges up from lows Asian shares firmer

Sun, 19 May 2013 22:25:19 -0400

SINGAPORE (Reuters) - The yen pulled up from a 4-1/2 year low against the dollar on Monday after Japan's economics minister said a further steady drop in the yen could have negative effects on households, pushing the dollar to a low of ...

Suncorp Mulls Selling Non-Core Bank - Report

Sun, 19 May 2013 22:21:18 -0400

Suncorp Group Ltd. (SUN.AU) is looking at ways to sell the "non-core" bank unit that houses its sour property loans, in a move that would free up capital and could mean higher payouts for investors, The Australian Financial Review said Monday.The regional bank and insurance group set up the unit in 2009 to house 17.5? billion Australian dollars (US$17.1 billion) of loans that could no ...

BOEs King Says More Steps Needed for Growth

Sun, 19 May 2013 21:29:54 -0400

The U.K. economy is in recovery but policy makers need to do more to lift growth, Bank of England Gov. Mervyn King said Sunday."We are seeing a recovery. But it's only a modest recovery, and we certainly can't be satisfied with it," Mr. King said in an interview with Sky News.The U.K. economy expanded 0.3% between January and March and the BOE expects it to grow 0.5% in the ...

Aust stocks higher after Wall St record

Sun, 19 May 2013 21:27:07 -0400

The Australian share market is higher as another Wall Street record buoys mining and banking stocks.IG market strategist Chris Weston says the strongest University of Michigan consumer sentiment reading since 2007 spurred the Dow Jones Industrial Average and the S&P 500 to reach fresh highs, helping Australian stocks."It's a question of a good lead from Wall Street and people buy on ...

Seoul shares up Wall St overshadows North Korea missile tests

Sun, 19 May 2013 20:12:40 -0400

SEOUL | Sun May 19, 2013 8:12pm EDT SEOUL May 20 (Reuters) - Seoul shares edged up on Monday after the rally on Wall Street boosted sentiment and helped to overcome worries about North Korea's firing of short-range missiles at the weekend. Technology heavyweights led the gains, with SK Hynix rising 2 percent and LG Electronics gaining 0.5 percent. The Korea Composite Stock Price ...

Scottish bank customers warned over deposit protection scheme

Sun, 19 May 2013 20:03:10 -0400

A Treasury report has analysed the impact of Scottish independence on the deposit protection scheme that guarantees up to 85,000 to UK bank customers. Photograph Carl Court/AFP/Getty ...

Empty shops hit record high retail study shows

Sun, 19 May 2013 20:03:08 -0400

The number of empty shops on Britain's high streets and malls has hit a record high on the back of a struggling economy and changing shopping habits, industry data released on Monday showed.Across the UK almost one in eight shops lay vacant in April 2013, according to the British Retail Consortium, the highest since it began collecting such data in July 2011. Almost one in five shops in ...

New Co-operative Group head endures rocky start at annual general meeting

Sun, 19 May 2013 20:03:08 -0400

the group's beleaguered bank .Around 250 delegates from across the country filed into New Century House to meet Euan Sutherland, the one-time head of the Kingfisher group they hope will guide them to safety.The meeting at New Century House, Manchester, was held behind closed doors, with delegates unusually tight-lipped as they arrived. A significant absentee was the Co-operative's ...

Share market set for gains on Wall St record

Sun, 19 May 2013 19:58:46 -0400

Australia The Australian dollar remains well below parity with the greenback, after positive US economic data pushed the value of its currency higher on Friday. Around 9:00am (AEST), an Aussie dollar was worth 97.42 US cents.The local currency was also fetching just under 76 euro cents, 100.25 Japanese yen and 64.23 British pence. Futures trade indicates the share market will rise today, with ...

Companies launch cyber war games to prepare for hackers

Sun, 19 May 2013 19:19:36 -0400

Clusters of corporate techies hunched over their laptops one recent evening in Mountain View, Calif., feverishly trying to figure out how RK Industries hacked into and stole critical information from its rival, EntraDyn. It’s a common occurrence, but in this case the firms were fictitious, and the event - a simulated exercise put on by security firm Symantec - featured rock music, a buffet ...

Edina boutique fulfills designers dream

Sun, 19 May 2013 19:19:35 -0400

Edina women’s boutique, a reality. Fortunately, Roth had been preparing for the opportunity for much of her life. She got her start working in her father’s textile factories and selling fashions in their native India, and for the last decade has designed and manufactured wholesale clothing, jewelry and accessories for major department stores as head ...

Trial of Petters associate to open Monday

Sun, 19 May 2013 19:19:33 -0400

The federal trial of the last foreseeable defendant in Minnesota’s largest criminal fraud begins Monday. James Fry, a dentist-turned-hedge-fund-manager from Spring Park, faces 12 counts accusing him of securities and wire fraud and making false statements to the Securities and Exchange Commission in his role as a financial conduit in the Tom Petters-directed Ponzi scheme that bilked ...

Twin Cities at center of hearing aid growth

Sun, 19 May 2013 19:19:32 -0400

Plymouth -based Miracle-Ear, which says it sells America’s most popular hearing aid, is turning up the volume for its Italian parent, Amplifon. Moreover, the Twin Cities hearing aid trade, which boasts several firms, appears to be growing thanks to aging baby boomers who need hearing help, powerful digital products and the willingness of some health insurers to cover at least some of the ...

Bloomberg terminals opened world of information to reporters

Sun, 19 May 2013 19:19:31 -0400

Today, what really connects the financial world? Money, intellect and ideology are candidates. But the best answer may be: the Bloomberg terminal. More than 315,000 of these data cockpits are in use around the world, leased for $20,000 a year. To locate a shared terminal in an office one merely needs to follow the deepest footpath in the carpeting. "Smart money" cannot live without ...

Business forum For medtech a new model is needed

Sun, 19 May 2013 19:19:29 -0400

The realities of the Affordable Care Act, longer FDA approval times and reimbursement challenges require new ways to finance medical technology ...

Movers Shakers Kyle OKeefe Robert Half International

Sun, 19 May 2013 19:19:28 -0400

Robert Half International Title: Regional vice president Age: 35 Kyle O’Keefe, who has a decade of experience at Robert Half International, has been promoted to regional vice president for the specialized staffing firm’s Twin Cities market. O’Keefe will oversee operations for Robert Half’s Accountemps and OfficeTeam staffing divisions ...

Outside consultant Exercise-product start-up needs laser focus

Sun, 19 May 2013 19:19:27 -0400

Question My start-up company has a product, the (4-in-1) Trans4mer, that was invented after my own experience with in-home physical therapy. That therapy had me using multiple exercise balls, bells and weights, which are both costly and space-consuming. Our product is a market disrupter but we have start-up financing problems. How do you effectively take advantage of this situation as a ...

Australia shares seen firmer on Wall St. records soft currency

Sun, 19 May 2013 19:05:46 -0400

SYDNEY, May 20 (Reuters) - Australian shares are seen starting firmer on Monday, after better economic data in the United States pushed Wall Street to fresh record highs and as the local dollar remains below parity against the greenback. * Local share price index futures rose 0.4 percent to 5,212.0, a 31.2-point premium to the underlying S&P/ASX 200 index close. The benchmark ended 0.3 percent up ...

Ryder System shares could rise 20 percent Barrons

Sun, 19 May 2013 18:12:45 -0400

(Reuters) - Ryder System <R.N), a truck rental and supply chain management company, could see its shares rise as much as 20 percent, according to a Barron's ...

Analysis High speed trading a stiff challenge for U.S. regulators

Sun, 19 May 2013 18:12:42 -0400

CHICAGO (Reuters) - Financial trading in world markets has grown so lightning-fast that effective regulation is growing tougher by the second, increasing the threat of crashes sparked by hoaxes, electronic glitches or yet-unknown ...

Analysis Little sign Abe can shake up Japans inbound FDI

Sun, 19 May 2013 17:26:56 -0400

By Stanley White TOKYO (Reuters) - Japan risks missing, yet again, an opportunity to use foreign investment to help fuel sustained economic growth that has eluded it for the last two decades. Prime Minister Shinzo Abe pledged to make Japan "the world's easiest country for companies to do business in" as part of his economic revival plan, which so far has been largely met with ...

Insight Despite curbs Chinas vast hot money triangle flourishes

Sun, 19 May 2013 17:20:52 -0400

ZHUHAI, China/HONG KONG (Reuters) - In an underground mall just a stone's throw from China's teeming border with Macau, a row of 30 small shops with identical golden plaques does a brisk, though shadowy trade with mainland Chinese visitors, many of them bound for the gambling ...

Exclusive Bangladesh factory banned by Wal-Mart still makes Wrangler shirts

Sun, 19 May 2013 17:20:52 -0400

GAZIPUR, Bangladesh (Reuters) - A Bangladesh factory where Wal-Mart Stores Inc and Inditex SA inspectors spotted cracks in the wall this month is still making Wrangler shirts for the world's largest apparel maker, U.S.-based VF ...

Reports Yahoo to acquire Tumblr for $1.1B

Sun, 19 May 2013 17:19:32 -0400

YHOO ) may be on the verge of closing its biggest acquisition during the 10-month reign of CEO Marissa Mayer as she tries to attract more traffic and advertisers to the Internet company's website and mobile applications. The Sunnyvale, California, company's board of directors met Sunday and approved a $1.1 billion acquisition of online content-sharing site Tumblr in a deal Mayer ...

On fleeting Hong Kong trips Chinese make frugal fashionable

Sun, 19 May 2013 17:00:00 -0400

By Donny Kwok and Lavinia Mo HONG KONG | Sun May 19, 2013 5:00pm EDT HONG KONG May 20 (Reuters) - Armed with empty suitcases and same-day return tickets, an army of mainland Chinese is descending on suburban outlet shopping malls and international fashion chains in Hong Kong, turning cheap into the new chic as luxury falls out of favour. Wealthy Chinese used to stop over in Hong Kong ...

Yahoos board approves $1.1 billion Tumblr acquisition WSJ

Sun, 19 May 2013 16:54:20 -0400

SAN FRANCISCO (Reuters) - Yahoo Inc's board has approved a deal to buy blogging and social networking site Tumblr for $1.1 billion in cash, the Wall Street Journal cited people familiar with the matter as saying on Sunday.Such an acquisition would be Marissa Mayer's largest deal since taking the helm of the once-iconic Internet company in July 2012. Yahoo is keen on fast-growing Tumblr ...

Gasoline prices at US pumps 11 cents over past 2 weeks

Sun, 19 May 2013 16:52:18 -0400

CAMARILLO, Calif. - The average U.S. price of a gallon of gasoline has jumped 11 cents over the past two weeks. The Lundberg Survey of fuel prices released Sunday says the price of a gallon of regular is $3.66. Midgrade costs an average of $3.84 a gallon, and premium is $3.98. Diesel held steady at $3.93 gallon. Of the cities surveyed in the Lower 48 states, Tucson, Ariz., has the ...

Yahoo board approves $1.1-billion purchase of Tumblr report

Sun, 19 May 2013 16:04:00 -0400

The Yahoo Inc. board has approved the $1.1-billion (U.S.) acquisition of Tumblr, a New York-based blogging service, according to The Wall Street Journal.The purchase was a foregone conclusion, said the website AllThingsD.com, citing sources close to the tech giant's board.The deal is just the latest effort by Yahoo to cultivate a hipper image since the arrival of CEO Marissa Mayer last ...

Ahead of shareholder meeting JPMorgan CEO Dimon is under pressure fighting for chairman job

Sun, 19 May 2013 16:02:36 -0400

NEW YORK - Jamie Dimon, chairman and CEO of the country's biggest bank, faces a key test this week: His shareholders are voting on whether to let him keep both jobs. It's been just more than a year since his bank, JPMorgan Chase, revealed a surprise trading loss that tarnished its usually stellar reputation in Washington and on Wall Street, and what a difference it has made. ...