Latest Breaking Business News
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Suncorp Mulls Selling Non-Core Bank - Report
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 ...
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Australia shares up in broad rally Wall St underpins market
Sun May 19, 2013 9:45pm EDT (Adds details, comments, stocks on the move) SYDNEY May 20 (Reuters) - Australian shares climbed 1.1 percent on Monday in a broad rally after upbeat U.S. economic data pushed Wall Street to record highs and as stocks with large exposure to the U.S. market gained on a weaker Australian dollar. "It's a broadbased rally, the overnight news was very positive and ...
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BOEs King Says More Steps Needed for Growth
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 ...
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Aust stocks higher after Wall St record
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 ...
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Yahoo reportedly agrees to buy Tumblr for $1.1 billion
Yahoo's board has agreed to buy Tumblr, the popular blogging service, for about $1.1 billion in cash, a person with knowledge of the agreement said on Sunday. The deal, sealed at a meeting of Yahoo's board, is expected to be announced as soon as Monday, said the person, who was not authorized to speak ahead of the announcement. The acquisition is the biggest yet under Yahoo's ...
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Seoul shares up Wall St overshadows North Korea missile tests
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 ...
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Scottish bank customers warned over deposit protection scheme
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 ...
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Empty shops hit record high retail study shows
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 ...
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New Co-operative Group head endures rocky start at annual general meeting
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 ...
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Share market set for gains on Wall St record
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 ...
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Companies launch cyber war games to prepare for hackers
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 ...
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Edina boutique fulfills designers dream
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 ...
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Trial of Petters associate to open Monday
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 ...
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Twin Cities at center of hearing aid growth
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 ...
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Bloomberg terminals opened world of information to reporters
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 ...
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Business forum For medtech a new model is needed
The realities of the Affordable Care Act, longer FDA approval times and reimbursement challenges require new ways to finance medical technology ...
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Movers Shakers Kyle OKeefe Robert Half International
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 ...
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Outside consultant Exercise-product start-up needs laser focus
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 ...
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Australia shares seen firmer on Wall St. records soft currency
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 ...
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Ryder System shares could rise 20 percent Barrons
(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 ...
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Analysis High speed trading a stiff challenge for U.S. regulators
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 ...
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Analysis Little sign Abe can shake up Japans inbound FDI
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 ...
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Insight Despite curbs Chinas vast hot money triangle flourishes
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 ...
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Exclusive Bangladesh factory banned by Wal-Mart still makes Wrangler shirts
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 ...
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Reports Yahoo to acquire Tumblr for $1.1B
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 ...
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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