Latest Breaking Business News
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Appeals court directs Ex-Im Bank to explain rationale for loan guarantee to Air India
WASHINGTON - A U.S. appeals court has upheld a decision by the U.S. Export-Import Bank to finance the sale of 30 Boeing wide-body jets to Indian state-owned carrier Air India in a legal challenge brought by Delta Air Lines to the loan guarantee. The court has however directed the government-run bank to better explain its rationale for providing loan guarantee, which Delta claimed as a ...
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Google renews efforts wipe out child porn images from internet
LONDON - Internet giant Google said it is spending $5 million to wipe images of child abuse off the Internet and another $2 million to create tools to find the images and eradicate them. "We're in the business of making information widely available, but there's certain 'information' that should never be created or found," wrote Jacqueline Fuller, director of Google Giving, in a blog post. ...
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GSK negotiating sale of thrombosis drug and plant to Aspen
DURBAN / LONDON - South Africa's biggest generic drug maker Aspen Pharmacare and its subsidiary Aspen Global Incorporated have made an offer to acquire thrombosis drugs and their associated manufacturing site at Notre Dame de Bondeville, France, from GlaxoSmithKline (GSK). "AGI will acquire from GSK the Arixtra and Fraxiparine/Fraxodi brands and business worldwide, except in China, Pakistan ...
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Carbon trading to begin in Shenzhen in bid to cut emission
BEIJING - China, the world's biggest carbon emitter, is set to launch Tuesday its first carbon trading scheme as a pilot project in the southern city of Shenzhen as part of efforts to cut emissions in its key cities. Carbon emissions trading schemes are meant to encourage companies to reduce their carbon dioxide emissions by setting a limit or a cap, on the level of emission that can be ...
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Rise in transportation costs push up UK inflation to 2.7pc
LONDON - The consumer price index (CPI) inflation increased to 2.7% in May, up from 2.4% in April, mainly due to higher fuel costs pushing up transportation costs particularly airfares, the Office for National Statistics (ONS) said Tuesday. The ONS said the rise was due to a record increase in airfares and higher fuel prices. "The inflation rate has returned to the levels seen between ...
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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 ...
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Nvidias stock jumps on license plan Wall Street eyes Apple
By Noel Randewich(Reuters) - Shares of chipmaker Nvidia surged nearly 6 percent on Wednesday after the company said it plans to license its graphics technology, opening the door to new business with Apple, Samsung Electronics and other mobile device makers.Chief Executive Officer Jen-Hsun Huang told the Reuters Global Technology Summit in San Francisco on Tuesday that licensing graphics cores ...
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Best Buy recalls 5100 replacement batteries for MacBook Pro due to fire risk
Best Buy is recalling 5,100 replacement batteries for the MacBook Pro due to a fire risk. The U.S. Consumer Product Safety Commission said Wednesday that there have been 13 reports that the battery caught fire. One consumer suffered a serious burn on the leg. Best Buy Co. is voluntarily recalling both black and white ATG lithium-ion replacement batteries for the notebook computers. The ...
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Bernanke Fed could reduce pace of bond purchases later in year if economy keeps improving
WASHINGTON -- Chairman Ben Bernanke says the Federal Reserve could scale back its $85 billion in monthly bond purchases later this year if the economy continues to improve. Bernanke says the reductions would occur in "measured steps" and that the program could end by the middle of next year. His comments were made during a news conference Wednesday after the Fed concluded its two-day ...
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Wisconsin Senate to debate state budget Thursday following quick Assembly passage
MADISON, Wis. -- The Wisconsin Senate plans to debate the state budget on Thursday, and Republican Majority Leader Scott Fitzgerald says no changes are planned. Fitzgerald said Wednesday he thinks there are enough Republican votes in the Senate to pass it in its current form. Republicans hold an 18-15 majority, but some moderates have raised concerns with the expansion of private school ...
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Study Wiser medication use could save US $213 billion a year in avoidable health care costs
TRENTON, N.J. -- If doctors and patients used prescription drugs more wisely, they could save the U.S. health care system at least $213 billion a year, by reducing medication overuse, underuse and other flaws in care that cause complications and longer, more-expensive treatments, researchers conclude. The new findings by the IMS Institute for Healthcare Informatics improve on numerous prior ...
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Fed Interest rates wont go up til unemployment goes down
In this Wednesday, May 22, 2013 photo, Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington. The Federal Reserve ends a policy meeting Wednesday, June 19, 2013. Investors have been nervously speculating that the Fed will soon scale back its economic stimulus and send interest rates up and stock prices down. (AP Photo/Manuel Balce ...
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SEC sets tougher stance on Street wrongdoing may start requiring admissions of guilt
Hedge fund honcho Steve Cohen is suddenly looking pretty lucky.Just months after Cohen’s SAC Capital agreed to a $602 million SEC settlement over insider trading - without admitting any wrongdoing - the SEC is talking tough.Mary Jo White, the new head of the Securities and Exchange Commission, plans to hold a town hall meeting to discuss when to require some defendants to admit to ...
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Take an early peek inside Microsofts new downtown Portland store
PORTLAND, Ore. - Microsoft Corp. gave reporters a preview of its gleaming new Portland store Wednesday ahead of its Thursday grand opening. Manager David Dantes leads a staff of 45 at the 3,200-square-foot store, constructed in the former Romano’s Macaroni Grill restaurant, 300 S.W. Yamhill St., at Pioneer Place in downtown Portland. The Portland store is one of seven Microsoft ...
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Margate residents appeal against giant new Tesco
Angry residents of Margate have appealed to the High Court against the Government's decision to build a giant Tesco store on the ...
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Papers please Microsoft creates second-class citizens with Office iPhone app
Computerworld - Microsoft erred when it decided that the new Office Mobile for iPhone would be available to Office 365 customers but not to those who purchased a traditional "perpetual" license to Office 2013, an analyst argued. "It's a mistake," said Frank Gillett of Forrester Research in an interview last week. "Any one [with Office 2013] should be able to access ...
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Ex-Goldman Sachs VPs Defense Limited
Goldman Sachs vice president Fabrice Tourre can argue that he was acting on the advice of company lawyers in his defense against charges that he misled investors.The ruling could be another setback for Tourre ahead of his trial on July 15, after the judge earlier this month rejected his argument that ...
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Investing to Retire Tax-Free
"Tax-free retirement" has a nice ring to it. If, like two-thirds of Americans, you are unsure you've saved enough for your out years, it's especially nice to know that Uncle Sam won't be pinching a slice of your meager pie. Or maybe you're an ample saver convinced by the tax talk in Washington that the feds will undo your careful planning by raising taxes by the ...
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Sex Toy Battle Shows Industry Growing
Is the sex toy business all grown up? In a highly watched case for the adult-entertainment crowd, a U.S. trade panel has ruled that several sex toy makers are violating a patent held by a Canadian company for a two-armed vibrator. The U.S. International Trade Commission ordered those competitors to stop making and selling products to Standard Innovation Corp.'s We-Vibe toy. While such ...
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FBI Ends Search For Hoffa
The FBI has failed to find remains of ex-Teamsters leader Jimmy Hoffa in a field outside suburban Detroit, with the "Power Lunch" crew. The search goes ...
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New Swine Virus Spreading Among Piglets
A swine virus never been seen in North America and deadly to young pigs is spreading rapidly across the United States, and it is proving harder to control than previously believed. The virus, with more than 100 positive cases, has spread to 13 states since it was diagnosed in the country last month, said Montserrat Torremorell, a specialist in swine health and professor at the University of ...
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Tesla hints at battery swap thats faster than filling gas tank
People look at the Tesla Motors Model X electric vehicle at its unveiling at the Tesla Design Studio in Hawthorne, Calif. in February 2012. The company's CEO has hinted that it may offer a battery-swap option. Nearly a month after announcing plans to set up a high-speed network of "Supercharger" stations across the U.S. and Canada, Tesla CEO Elon Musk is hinting the start-up ...
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Aldi Beats Big Four To Top Consumer Award
Discount retailer Aldi has been named the UK's best supermarket at the annual Which? awards. The consumer watchdog said Aldi took the title "for its impressive range of best buys, quality food and good pricing", trumping competition from major players such as Sainsbury's, Tesco, Asda and Morrisons. It follows Kantar figures released on Tuesday showing Aldi seized a ...
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Icahn reiterates commitment for Dell buy
NEW YORK (Reuters) - Carl Icahn reiterated his interest in owning Dell Inc and said the $5.2 billion in financing he's putting together to back his bid for the company continues to move forward as planned. The comments came in a telephone interview Tuesday, echoing statements he made earlier in the day in an open letter to Dell ...
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Web retailer Fab valued at $1 billion with funding from Tencent
As part of the funding round Tencent, China's largest online gaming and social networking company, will get to appoint a director to Fab's board, said Jason Goldberg, Fab's chief executive and founder, in a post on his personal blog on ...
London Featured
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London bike sharing a success
London in July of 2010 became one of over 44 cities in the world to introduce an aspect of communal consumerism into its public transport system with the implementation of a bike-sharing network and just ten weeks later had recorded over 1 million trips taken, proving the initiative to be feasible and sustainable.
Bike-sharing has been around since as early as the 1960s when the first community bike-sharing scheme was introduced in the Netherlands, but it lacked formal sharing systems and was overly-reliant on the good nature of the public, leading to mass theft, which ultimately destroyed the system. Read more
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