Latest Breaking Business News
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Bernanke says more positive signs needed before scaling back stimulus
WASHINGTON - Chairman of the Federal Reserve, Ben Bernanke Wednesday said it was too soon to scale back the monetary stimulus and the central bank needs to see further signs of traction before taking a decision. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain ...
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Higher exports fail to plug widening Japan trade deficit
TOKYO - Japan's trade deficit rose substantially more than expected in the month April to 879.9 billion yen ($8.6 billion), which is a 70% jump over the trade deficit during the corresponding month a year earlier, the Finance Ministry said Wednesday.. The deficit, for the tenth consecutive month, was wider than what many economists had forecast. A survey from the Nikkei business daily ...
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Vitamin C offers hope of tackling drug resistant TB
WASHINGTON - Adding vitamin C to existing tuberculosis drugs regime could shorten the therapy for drug resistant TB, claims new research findings published in the online scientific journal Nature Communications. The striking discovery, by researchers at Albert Einstein College of Medicine of Yeshiva University, has determined that vitamin C kills drug-resistant TB bacteria in laboratory ...
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IMF warns UK against continuing austerity programme
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 ...
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Labour reforms to top US team agenda on Bangladesh visit
DHAKA - A high level US delegation led by the State Department's Under Secretary for Political Affairs Wendy Sherman will visit Bangladesh this weekend to press for a major overhaul of labour safety regulations following the nation's deadliest industrial accident, an official said Wednesday. The collapse of a nine-storey factory complex housing several garment units outside the capital last ...
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Barroro voices concern over estimated one trillion euro tax evasion
BRUSSELS - Voicing concern about tax evasion that is estimated at one trillion euros, European Commission President Jose-Manuel Barroso said Tuesday that EU leaders will meet at a one-day summit on Wednesday to negotiate solution. The European Union can't afford to let tax evasion go on the way it is. Such large amounts of money, currently sitting in tax havens, would be greatly beneficial ...
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German central bank sees signals of economic pick up in Q2
FRANKFURT - Germany's central bank Deutsche Bundesbank expects the country's economy to improve "markedly" in the second quarter relying on signals of pick up in industrial orders and likelihood of weather related downturn in construction sector no longer impacting investment sentiments a development that could boost the wider eurozone as it struggles to get out of recession. "Overall ...
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Construction begins on new island off Jumeirah Beach in Dubai
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 ...
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Mortgage lending in UK rises highest in four years
LONDON - The UK housing market seems to be picking up with gross mortgage lending up 4.3 per cent in April over previous month to 12.1 billion pounds, the highest in over four years, according to the Council of Mortgage Lenders (CML). The mortgage lending was 21% higher than April 2012, but this data is skewed by the end of the stamp duty concession on 24 March, 2012. Under the stamp duty ...
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Microsoft launches all-in-one home entertainment system Xbox One
Microsoft has unveiled its latest video gaming console 'Xbox One' which is believed to transform games, TV and entertainment for the 21st century living room. The latest console reportedly promises a vision of the future. According to a report by the Mirror, 'Xbox One' will allow users to turn on the device with words like "Xbox On", and "snap" will allow users to watch two things at ...
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Microsoft unveils new all-in-one Xbox console
Microsoft unveiled a new Xbox console Tuesday that represents a major upgrade on the US-market-leading Xbox 360 model. The president of the IT giant's Interactive Entertainment Business, Don Mattrick, revealed the hi-tech Xbox One entertainment and gaming console during an event at Microsoft's Redmond, Washington, campus. The Xbox One was presented as an all-in-one system for gaming, watching ...
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Executives decry pressure of ‘short-termism’ in earnings targets
Senior corporate executives say they have faced growing pressure in the past five years to meet short-term earnings targets, leading to a new campaign to urge shareholders to take a longer-term outlook for stocks they own.The heads of the Canada Pension Plan fund and international consulting firm McKinsey & Co. told a Toronto audience Wednesday they are launching a campaign to convince ...
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Renting better than buying in the Twin Cites
Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet ...
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San Onofre execs in Star Trek parody
Ross Ridenoure (center facing right), chief nuclear officer of the San Onofre nuclear power plant, and workers stood by one of the two new generators that will be installed in the complex. (Charlie Neuman / ...
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Ben Bernanke tells bulls what they want to hear
Ben Bernanke's statement suggests the prospect of an imminent change of policy by the Federal Reserve is unlikely. Photograph: James Berglie/ZUMA ...
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QA with a London derivatives trader | Joris Luyendijk
interviewee who specialised in shares (equity) and who was lamenting the rise of derivatives - financial products such as options, swaps and futures that can be almost infinitely more complex than simple shares. Today's interviewee is one such derivatives ...
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Wal-Mart plans to send automated shopping lists to its mobile app
IDG News Service - Wal-Mart plans to use big data about a customer's usual shopping to automatically create shopping lists for them on its mobile app. That's one of the tools the world's largest retailer plans to use to improve the in-store shopping experience as it looks to mobile-influenced purchases outpacing e-commerce sales, said Gibu Thomas, Wal-Mart's global head of ...
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Wal-Mart Using Big Data to Power Mobile
Wal-Mart wants to tell you what to buy on your mobile device and it's using its massive collection of data to make it a reality. "Our mobile strategy is as simple as it is audacious. We want to make mobile tools that become indispensable for our customers while shopping in our stores and online," said Gibu Thomas, global head of Wal-Mart's mobile division, on Wednesday at the ...
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Tesla Pays Off $465 Million DOE Loan
Tesla has become the first automaker to repay its loan under the Energy Department's Advanced Technology Vehicle Manufacturing program. In a statement issued after the money had been wired, Tesla CEO Elon Musk said, "I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American ...
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DryShips posts another loss expects rates to remain weak
DRYS.O ), a drybulk shipper and offshore contract driller, posted a sixth straight quarterly loss and said it did not expect charter rates to improve this ...
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Midwest gasoline prices expected to cool after spike
(Reuters) - Gasoline prices in the Midwest should fall in the coming days after hitting record highs in several cities last week in the run up to Memorial Day, the traditional start to the summer driving season, traders and industry analysts said on ...
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LyondellBasell Raises Dividend by 25 Approves Share Buybacks
LyondellBasell Industries NV's (LYB) board has raised the plastics and chemicals company's quarterly dividend by 25% and approved the repurchase of up to 10% of its stock over the next 12 months, moves to increase shareholder return.The dividend increase to 50 cents a share will cost the company about $57.5 million more a quarter, based on roughly 575 million shares outstanding as of ...
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Whole Foods says grocer wants to open 40 more stores in Canada
MONTREAL - U.S. grocer Whole Foods Market Inc. says it could open 40 or more stores and tally $1-billion in annual sales in Canada as part of a wider expansion that continues unabated. ';By the time we actually get to the place of being able to open those stores, I expect the market will continue to evolve,'; company co-chief executive John Mackey told reporters at a business ...
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‘Get ready to deal with fear’ CP Rail chief Harrison fires back at union critics over safety concerns
Hunter Harrison, Canadian Pacific Railway Ltd. chief executive, fired back at some of the railway's union leaders Wednesday after they expressed concerns this week that a restructuring underway at the railway may be contributing to several high-profile derailments, including one in Saskatchewan on Tuesday that spilled more than 68,500 litres of crude oil on the ground before it was ...
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Assessing Detour Gold’s $153-million bought deal
There's a lot of wouldas, couldas and shouldas about the $153-million bought deal financing for Detour Gold that came to the market late Tuesday afternoon. That deal, which came a day after the shares hit a recent six-month low, was priced at $8.75 a share, or more than 5% below its then trading price of $9.23. The deal also broke a steady Detour Gold financing strategy: always finance at ...
Feature on Bangkok
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Bangkok’s reputation under threat
Bangkok has long-been the site of political instability for the country, but this has rarely escalated into full-scale violence, now as talks between government and protests breakdown, and acts of violence increase, the city faces a difficult situation.
There is currently a days-long standoff between the government and anti-government protestors who claim the present government headed by Prime Minister Abhisit Vejajjiva was supported by the military when they came to power fifteen months ago. Read more
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