Latest Breaking Business News
RSS-
Dalian Wand Group to enhance UK presence with luxury hotel and yacht unit
LONDON - China's largest premier commercial property and entertainment conglomerate, Dalian Wanda Group Wednesday entered into 320million pounds definite acquisition deal with leading British yacht company, Sunseeker International Ltd, under which Wanda will acquire a majority shareholding of 91.81% in pre-eminent luxury motor yacht manufacturer. Under the agreement, the remaining 8.19% ...
-
EU antitrust regulator fines Lundbeck and several generic drug firms
BRUSSELS - European Union in its first case over pay-for-delay deals that held back sales of cheaper generic drugs Wednesday fined Danish pharmaceutical company Lundbeck 93.8 million euros and imposed fines totaling 52.2 million euros on several other producers of generic medicines. The European Commission, the EU's antitrust regulator, said the companies had reached agreements that may ...
-
Chrysler to recall 2.7 mn Jeeps but says vehicles not defective
NEW YORK - Chrysler avoided a showdown with the US government by agreeing to recall 2.7 million Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions. Chrysler said it recognised the matter had raised concerns for customers The US company said it had resolved its differences with the National Highway Traffic Safety Administration (NHTSA). The recall affects ...
More Breaking Business News
RSS-
Four US mortgage servicers faulted for lapses by settlement monitor
WASHINGTON - Four of the largest U.S. mortgage servicers, including Citigroup Inc (C). and Bank of America Corp., have failed to adequately upgrade their treatment of customers in danger of foreclosure, according to a court-appointed monitor. Bank of America, Citigroup, JPMorgan Chase and Wells Fargo have failed to adhere to some of the new standards set out in a landmark settlement meant to ...
-
Spain making progress but requires urgent action to generate growth says IMF
MADRID - Spain risks high joblessness and sluggish growth for years unless its government together with Europe takes "urgent action' to generate growth and jobs, the International Monetary Fund stated Wednesday. "While there are signs the economic contraction may end soon, the outlook remains difficult," IMF said in its annual assessment of the Spanish economy. "But unemployment remains ...
-
Yahoo follows Facebook and Microsoft in publishing US govt sought snoop data
Internet corporation Yahoo has followed the league of technological companies in publishing reports about 'snoop data' requests made by the US government. According to the Guardian, Yahoo has revealed that it had received 12,000-13,000 requests, inclusive of criminal, Foreign Intelligence Surveillance Act (FISA), and other requests by the government between 1 December 2012 and 31 May ...
-
Emeco cuts earnings forecast again
Shares in mining equipment supplier Emeco Holdings have fallen sharply today to a four-and-a-half year low after the company downgraded its profit forecast for the second time in two months. The company said it expects to report an operating profit after tax in the range of $35 to $36 million, for the year to June ...
-
Minnesota Poll Confidence in personal finances up sharply
A new Minnesota Poll shows that 61 percent of Minnesotans rated their financial situation as good or excellent in June, a huge jump from February, when 45 percent gave their finances positive marks. An additional 29 percent rated their finances as fair, while 8 percent said their finances are ...
-
$1000 genome a mirage
Years of talk about cutting the price of sequencing a human genome to $1,000 has made one prominent genomics guru more than a little cranky. Mick ...
-
2 3Ds now 1 Stratasys buys MakerBot
Brooklyn-based MakerBot hit the jackpot.The 3D-printer maker, which just opened fancy waterfront industrial digs, was acquired by another giant in the industry, Stratasys.MakerBot, co-founded by Bre Pettis, sold for more than $400 million. Stratasys is paying for the merger by issuing 4.76 million new shares.The deal includes incentives for another $200 million in earn-outs.MakerBot, which is ...
-
Morgans urged to sell out
It’s baptism by fire for the new board of Morgans Hotel.A shareholder in the 13-unit hotel chain is expected today to urge the newbie board - on the job for less than a week - to put the company on the block, The Post has learned.Manhattan hedge fund Kerrisdale Capital will also announce it has amassed a 4.3 percent stake in Morgans, owner of the Mondrian Soho and the Delano in ...
-
Metals Stocks Gold prices drop as Fed signals stimulus slowdown
LOS ANGELES (MarketWatch) -- Gold futures dropped Thursday, stung after the Federal Reserve signaled that it may reduce the amount of monetary stimulus it provides as early as this ...
-
Asian stocks down as Fed sees slower bond buys
A visitor is seen at Tokyo Stock Exchange during a morning trading in Tokyo Monday, June 17, 2013. Asian stocks edged up Monday amid hopes that the U.S. Federal Reserve will put off plans to wind down its stimulus program. Tokyo's Nikkei 225, the regional heavyweight, jumped 2.2 percent to 12,960.81, extending Friday's 2.4 percent ...
-
Britain France face EU action over high Eurostar charges
Four members of the Scot's Guards pose for a photograph next to a new Eurostar train, during a media event, in central London, October 7, ...
-
Microsoft Reverses Decision to Impose Restrictions on Used Games for Xbox One
E3: Xbox One to Launch in November for $499 Last week at E3, Microsoft had said it would put restrictions in place to limit the sale of used games for Xbox One. Later that same day, Sony received enthusiastic applause at its press conference when, in previewing its competing PlayStation 4, it said it would instead allow players to lend, trade or resell used disc-based games as they choose. ...
-
Coca-Cola names Lucie Austins replacement
Coca-Cola South Pacific has recruited Chris Johnston to fill the shoes of award-winning marketer Lucie Austin. Johnston has been with Coca-Cola in various roles since 2002 according to his LinkedIn profile. Coke Zero, Coke Red and Diet Coke now fall under his remit as do Fanta, Glaceau Vitamin Water and a team of 50. Austin was behind ‘Share a Coke’, which Coca-Cola’s ...
-
Sub sandwich chain Jersey Mikes plans Twin Cities takeover
Jersey Mike’s, a chain of East-Coast-style sandwich shops, plans to open about 10 new stores in the Twin Cities in the next year and a half. Eventually, the plan is to have 50 locations here, area franchisee John Griparis ...
-
Dakotas are wooing Minnesota workers companies
The states are appealing directly to workers and businesses in Minnesota, asking them to head for the border. This spring, when Minnesota lawmakers hiked the cigarette tax, created a higher top-tier individual income tax and expanded the sales tax to a handful of industries, a fresh round of interstate wooing ...
-
Megaupload founder Kim Dotcom in tears after European firm deletes files from shuttered site
WELLINGTON, New Zealand -- Megaupload founder Kim Dotcom said Thursday he was "in tears" after a European company deleted all the data it was hosting from his shuttered file-sharing site. Netherlands-based LeaseWeb announced it had deleted all Megaupload files from 630 servers. LeaseWeb said in a statement it hosted the data for over a year at its own expense without receiving any ...
-
Bernanke No big interest rate hikes coming soon
Ben Bernanke appeared nervous and took frequent sips of water, but the world's most powerful central banker tried to be loud and clear at a Wednesday news conference: Everybody can relax, because there's almost no way the Federal Reserve is going to crank up interest rates anytime ...
-
Some gamers mourn Microsofts Xbox One DRM reversal
IDG News Service - There was a largely euphoric reaction online in the hours after Microsoft reversed its policies for the upcoming Xbox One game console, which had restricted resales of used games and required a constant Internet connection. A ...
-
Tips Every Car Owner Should Know
You don't have to know that much about cars, as long as you know the rules of car repair. Here are some key pieces of knowledge that will smooth your ...
-
Goodyear Responds to ABCs The Lookouts Report Undercover Mechanic
Jun 19, 2013 10:00pm ABC’s The Lookout went undercover to Goodyear’s Commack, N.Y. location. Here is the company’s response to our ...
-
Wall St dips more than 1 after Fed hints at slowing bond buying
US stocks are closing sharply lower and bond yields are rising after Fed Chairman Ben Bernanke said the central bank could slow its massive bond purchases this ...
-
REPEAT-GLOBAL MARKETS-Asian stocks tumble on weak China PMI Fed policy plan
Wed Jun 19, 2013 11:03pm EDT * MSCI Asia ex-Japan slides 2.8 pct to 9-month low * U.S. Treasury yields hit 15-mth high, underpin dollar * China "flash" PMI hit 9-month lows * Asian credit market spreads widen 23 points By Chikako Mogi TOKYO, June 20 (Reuters) - Asian shares tumbled to nine-month lows on Thursday as slowing Chinese manufacturing activity exacerbated sentiment already ...
Amsterdam in Focus
-
Amsterdam and the Clash of Civilisations: is this city on the frontline?
There is a polarising pattern of insult and violence going round and round in Europe, and Amsterdam seems to be one of the cities leading the continent down the spiral toward a culture of intolerance toward everyone who isn't European.
The Swedish cartoonist Lars Vilks is frequently in the media for his decisively controversial cartoons that seem to unremittingly try and provoke the Islamic communities across Europe. Just this week alone he was the target of two separate assassination plots that were to be carried out, interestingly, by two women who had converted to the religion he vilifies. Read more
News from around our Network
