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June 28 to see News Corp split into two companies

Fri, 24 May 2013 16:56:04 -0400

WASHINGTON - Rupert Murdoch's News Corporation Friday announced the planned separation of the $76-billion conglomerate into two distinct publicly traded companies, with one to be renamed 21st Century Fox and the publishing firm to retain the News Corp brand. The split has been formally approved by the Board of Directors. The Company announced appointments to the Boards of Directors of both ...

Audit records of Chinese firms to be made accessible to US regulators

Fri, 24 May 2013 16:37:07 -0400

BEIJING - Chinese regulators Friday announced that they have signed a memorandum of understanding with their US counterparts giving American authorities increased access to documents from Chinese audit firms. The signing of the MOU between China Securities Regulatory Commission (CSRC), the Ministry of Finance (MOF) and the US Public Company Accounting Oversight Board (PCAOB) is a significant ...

Investments being sought by Croatia for oil exploration in Adriatic Sea

Fri, 24 May 2013 16:42:23 -0400

ZAGREB/LONDON - Croatia, soon to become the 28th member of the European Union,- is looking to undiscovered oil and gas fields in the Adriatic Sea to revive its ailing economy, according to the country's president. Ivo Josipovic told CNN that Croatia is searching for partners in the energy sector to help reveal oil and gas "green fields" in the waters that separate the Balkan nations and ...

Fan fiction authors to find platform on Amazon

Fri, 24 May 2013 16:39:36 -0400

WASHINGTON - Amazon, the largest online retailer of books, movies, music and games, Friday offered its Kindle e-book platform to fan fiction authors to sell some of their work. Fan fiction is literature inspired by popular books, shows, movies, comics, music, and games. Publication outside of blogs and online fanzines is often difficult because of copyright issues. Amazon Publishing has ...

Central bank of China to push forward market oriented reforms

Fri, 24 May 2013 16:37:38 -0400

BEIJING - China is planning to steadily push forward market-oriented reform in its interest rates and exchange rates mechanisms this year as part of the financial sector reforms to better serve the real economy, a central bank report said on Friday. The "China Financial Stability Report (2013) released by the People's Bank of China stressed that it would be steadily promoting the interest ...

Irish biotech firm Elan rejects revised Royalty Pharma bid

Thu, 23 May 2013 17:52:46 -0400

DUBLIN/ WASHINGTON Ireland-based biotechnology firm Elan Thursday rejected Royalty Pharma's increased $6.4 billion takeover bid, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one share. Royalty raised its hostile cash bid to $12.50 per share on Monday, from $11.25 previously, but made the new offer conditional on Elan shareholders rejecting, at a ...

IMF warns UK against continuing austerity programme

Wed, 22 May 2013 15:53:31 -0400

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 ...

After San Onofre ruling nuke-safety group presses advantage

Fri, 24 May 2013 20:09:00 -0400

Spurred on by a ruling on the significance of safety problems at the San Onofre Nuclear Generating Station, the international environmental group Friends of the Earth has redoubled efforts to establish trial-like public hearings on a proposal to restart the power ...

Coast Highway improvements nearly complete

Fri, 24 May 2013 20:08:58 -0400

A nearly yearlong overhaul of Coast Highway 101 in Solana Beach is heading down the home stretch, and local merchants -- at least those who survived a drastic drop in business during the construction -- couldn't be ...

Why Democrats Cant be Trusted to Control Wall Street

Fri, 24 May 2013 20:07:18 -0400

Who needs Republicans when Wall Street has the Democrats? With the help of congressional Democrats, the Street is rolling back financial reforms enacted after its near meltdown. According to ...

Top Ten MarketWatch’s top 10 stories May 20-24

Fri, 24 May 2013 20:05:18 -0400

-2.61% shares soared after the company reported financial results that outpaced analyst expectations, but those analysts warned that the "turnaround" tale at the high-tech giant may not have a happy ...

Jersey Shore Ready for Summer After Sandy

Fri, 24 May 2013 19:59:44 -0400

Almost seven months after being devastated by super storm Sandy, the Jersey Shore is looking to rebound as the summer season gets underway this Memorial Day weekend, reports CNBC's Kayla ...

Microsoft still stamping out used games fire

Fri, 24 May 2013 19:57:58 -0400

Xbox reveal , though the company did not unveil every bit of information that customers were waiting for. For instance, we still do not know pricing or release date. However, the biggest urbanlegend in circulation -- that of used games -- is under attack from the console maker. On the day of the big reveal, Larry Hrybtook to his blog to assure users "While there have been many potential ...

Wall Street Week Ahead Investors look for signs in the rallys break

Fri, 24 May 2013 19:47:43 -0400

NEW YORK (Reuters) - The stock market's break in its recent rally this week left investors wondering if they're seeing a turning point or just a blip in the upward ...

Ex-Virginia bank executives guilty in financial crisis case

Fri, 24 May 2013 19:47:42 -0400

(Reuters) - The former chief executive of a failed U.S. bank in Norfolk, Virginia, and three others were convicted Friday on bank fraud conspiracy and other charges for concealing loan losses in a scheme that contributed to he bank's 2011 ...

Visa MasterCard Strike Back at Swipe-Fee Settlement Foes

Fri, 24 May 2013 19:44:35 -0400

Visa Inc. (V) and MasterCard Inc. (MA) are firing back at retail trade groups trying to derail a pending $7.25 billion settlement over so-called merchant swipe fees.The world's largest payment networks asked a federal judge Friday to rule that their practices for setting fees paid by merchants that accept credit and debit cards aren't anticompetitive, which could limit the type of ...

MARKET SNAPSHOT U.S. Stocks Break Four-week Winning Streak

Fri, 24 May 2013 19:44:34 -0400

NEW YORK – U.S. stocks fell for the first week in five as the prospects of the Federal Reserve starting to reduce its bond-buying stimulus rattled a market trading at historic highs.Friday's losses, however, were mild as investors found some support from a stronger-than-forecast report on demand for big-ticket purchases and after the prior session's improvement in jobless ...

Argentinas Stocks End Lower Blue Dollar Strengthens

Fri, 24 May 2013 19:44:34 -0400

Argentine stocks fared poorly Friday in light trading while the black-market dollar continued to strengthen on media reports that banks will further restrict the ability of customers to withdraw cash while overseas.The Merval index fell 1.34% to 3,509.72 in volume totaling ARS31.3 million ($5.9 million).The power company Pampa Energia SA (PAM, PAMP.BA) led the declines, sliding 3.4% to ARS1.14. ...

Shareholders are flexing muscles over issue of high executive pay packages

Fri, 24 May 2013 19:02:42 -0400

A consultant advised shareholders to vote “no” this year on Coca-Cola CEO Muhtar Kent’s $30.5 million pay package. The company responded with a plan to cap bonus awards if stock returns are ...

Top UCSD center named Qualcomm Institute

Fri, 24 May 2013 19:02:14 -0400

A University of California San Diego institute that's emerged as a leader in finding better ways for people to communicate, stay healthy and protect the environment was named Friday after its largest benefactor, chipmaker ...

Stocks to Watch Stocks to watch Tiffany United Natural Foods

Fri, 24 May 2013 18:58:55 -0400

SAN FRANCISCO (MarketWatch) -- Tiffany & Co. and United Natural Foods will be among the stocks to watch Tuesday after the three-day holiday ...

Should You Pay Someone to Manage Your 401

Fri, 24 May 2013 18:53:02 -0400

Fidelity says the average 401(k) balance topped $80,000 for the first time in Q1, reports CNBC's Sharon Epperson. Niall Gannon, The Gannon Group, and Patricia Powell, Powell Financial Group, ...

Microsoft Compliant YouTube Windows Phone 8 app coming meanwhile take the dreadful old version back

Fri, 24 May 2013 18:51:22 -0400

sent by Google little over a week ago, today, Microsoft reaches out to me and announces a new update for its homebrew YouTube Windows Phone 8 app. You might want to contain that burning desire to hit the "Update" button though. "Microsoft and YouTube are working together to update the new YouTube for Windows Phone app to enable compliance with YouTube's API terms of service, ...

Visa Mastercard ask U.S. court to declare card fees are lawful

Fri, 24 May 2013 18:40:41 -0400

An employee stands behind a MasterCard logo during the launch of the international credit card issuer's first ATM transaction in Myanmar, in Yangon November 15, ...

Man at centre of SNC-Lavalin fraud allegations was key hire by company

Fri, 24 May 2013 18:36:35 -0400

MONTREAL - When SNC-Lavalin Group Inc. chief executive Jacques Lamarre met a hot-shot engineer named Sami Bebawi for dinner in mid-1998, he was looking for someone who could help turn around the company’s money-losing construction unit after years of ...

Take A Secret Look Inside The Cocoon As A Caterpillar Transforms To A Butterfly

Fri, 24 May 2013 18:36:34 -0400

0 The transformation of a lowly caterpillar into a graceful butterfly is the kind of shocking fact of nature that's used to get children excited about science, so visible is the transformation, so tangible are the lessons. But what's actually going on inside the cocoon? Typically, scientists have had to dissect them to find out, killing the organism inside as a result, a casualty of ...

Stocks trade flat market ends week lower for the first time since April

Fri, 24 May 2013 17:53:39 -0400

Traders gather at the post of specialist Ronnie Howard, center, on the floor of the New York Stock Exchange Monday, April 29, 2013. Enthusiasm on Wall Street sparked by another positive report on the U.S. economy helped push most Asian stock markets higher Wednesday May 15, 2013. But lower-than-expected German economic growth disappointed investors elsewhere. (AP Photo/Richard ...

Metals and agricultural futures prices slip energy futures end mostly lower

Fri, 24 May 2013 17:53:38 -0400

Metals prices ended slightly lower Friday, as did agricultural futures. Crude oil ended the week down 2 percent as traders worried about global demand and shared the stock market's concerns about possible changes to the Federal Reserve economic stimulus program. Gold for June delivery fell $5.20 to $1,386.60 an ounce. Other metals prices also fell. July silver fell 1.2 cents to $22.496 an ...

Energy Stocks Energy stocks fall end week off 0.5

Fri, 24 May 2013 17:49:45 -0400

SAN FRANCISCO (MarketWatch) -- Energy stocks fell Friday, ending the week with a loss of 0.5% as gains earlier in the week cushioned heavy losses in recent trading ...

Iceberg Picnic Goes Wrong in Iceland

Fri, 24 May 2013 17:43:27 -0400

A group of American tourists have been rescued from a drifting Icelandic iceberg that broke off from land as they were trying to picnic upon it, complete with folding chairs and table. The five imperiled picnickers are safe, plucked by a small rescue boat from the ice slab floating atop deathly frigid waters of the Fjallsrln glacial lagoon in Iceland, five-and-a-half hours east of Reykjavik. ...

Bridge Collapse Will Slam Local Economy

Fri, 24 May 2013 17:43:26 -0400

The collapse of a bridge on a major West Coast highway could cost the state of Washington at least $47 million in lost economic output, as well lost jobs and tax revenues similar to the impact of a flood five years ago that also shut down another section of the road, officials said Friday. Brian Bonlender, director of the State Department of Commerce, said it would be difficult to pinpoint the ...

Wal-Mart to sell Fatburger patties

Fri, 24 May 2013 17:38:46 -0400

NEW YORK (AP) -- Fatburger, a chain with a devoted following on the West Coast, said Friday it will sell its branded frozen beef patties in Walmart stores nationwide.The Beverly Hills, Calif.-based chain said the beef patties are in select stores now and will roll out nationally over the next several weeks.Fatburger, which was founded in 1952, has about 150 locations globally; half of those are ...

Infoblox profit forecast beats estimates shares rise

Fri, 24 May 2013 17:31:36 -0400

BLOX.N ) reported a better-than-expected quarterly profit on higher demand for its network automation products and forecast current-quarter earnings above analysts' ...

Justice Department opposes AMRs $20 million severance for CEO Horton

Fri, 24 May 2013 17:31:32 -0400

LCC.N ) is coming under fire from the U.S. Department of Justice over nearly $20 million in severance pay earmarked for outgoing boss Tom ...

Bausch Lombs Ista pleads guilty over kickbacks

Fri, 24 May 2013 17:31:31 -0400

(Reuters) - Ista Pharmaceuticals Inc WPRISI.UL pleaded guilty on Friday to charges it used kickbacks and improper marketing to boost sales of a drug meant to treat eye pain and agreed to pay $33.5 million to settle criminal and civil liability, the U.S. Department of Justice ...

Tech Stocks Salesforce Google losses hit tech stocks

Fri, 24 May 2013 17:29:28 -0400

SAN FRANCISCO (MarketWatch) -- A sharp drop in shares of Salesforce.com sparked a slump across the corporate-software-vendors group and led the broader tech sector into the red ...

Markets Post Weekly Loss Snap Four-Week Streak

Fri, 24 May 2013 17:28:33 -0400

FOX Business: Capitalism Lives Here The S&P 500 slid more than 1% this week in its first weekly loss in five amid worries about when the Fed will begin tapering its vast asset-purchase program. Today's Markets The Dow Jones Industrial Average rose 8.6 points, or 0.06%, to 15303, the S&P 500 dipped 0.91 point, or 0.06%, to 1650 and the Nasdaq Composite slipped 0.28 point, or 0.01%, ...

Colombia Stocks Rise Led by Banco de Bogota Peso Weakens

Fri, 24 May 2013 17:28:32 -0400

BOGOTA, Colombia – Colombian stocks rose Friday, led by a rise in banking stocks, while the peso plunged to a 16-month low.The Colcap index, a benchmark for the Colombian Stock Exchange, rose 0.3% to end at 1,704.66 points. Shares of financial firm Banco de Bogota rose 2.8% to COP70,000.Colombia's currency, the peso, ended at COP1,878.95 for a dollar, from COP1,865.99 a day earlier. ...

Norway Oil Fund Voted to Separate J.P. Morgan Posts

Fri, 24 May 2013 17:28:31 -0400

The leadership of Norway's $740 billion oil fund voted at J.P. Morgan Chase's (JPM) annual meeting to separate the roles of chief executive and chairman at the bank, Norges Bank Investment Management chief executive Yngve Slyngstad said Friday.After facing some criticism in national media for keeping his voting secret on whether Jamie Dimon should remain as both CEO and chairman of the ...

US stocks flat as bulls get cautious

Fri, 24 May 2013 16:46:43 -0400

NEW YORK (AFP) - US stocks closed flat Friday, reeling in early losses but showing caution following Japan's Thursday plunge and ahead of the three-day US Memorial Day holiday weekend.At the closing bell, the Dow Jones Industrial Average added 9.06 points (0.06 percent) at 15,303.56.The broad-based S&P 500 was down 0.88 (0.05 percent) at 1,649.63, while the tech-rich Nasdaq Composite ...

The close TSX slightly higher Wall Street mixed

Fri, 24 May 2013 16:46:38 -0400

The Toronto Stock Exchange closed slightly higher, pulled down by declines in most sectors, particularly gold, but boosted by a 13 per cent spike in shares of Valeant Pharmaceuticals International.The S&P/TSX composite index finished up 9.13 points at 12,667.22. The Canadian dollar was down 0.25 of a cent to 96.89 cents ...

Stocks fade on Wall Street post their first weekly loss in a month

Fri, 24 May 2013 16:44:42 -0400

NEW YORK - Stocks prices are closing mostly lower on Wall Street, giving the market its first weekly loss in a month. The Dow Jones industrial average edged up eight points to 15,303 Friday, a gain of 0.1 percent. The Dow was supported by a big gain in Procter & Gamble. The Standard & Poor's 500 fell a point to 1,649, or 0.1 percent. The market had its first weekly loss in five ...

Oil finishes week down 2 percent on concerns about global demand Feds next move

Fri, 24 May 2013 16:44:41 -0400

NEW YORK - The price of oil fell 2 percent this week, as oil traders worried about global demand and shared the stock market's concerns about possible changes to the Federal Reserve economic stimulus program. The loss Friday was just 10 cents, to $94.15 a barrel. But four straight losses resulted in a weekly decline of $1.87 a barrel for the benchmark oil contract. The global economic ...

IMF chief named key witness in French payoff case

Fri, 24 May 2013 16:44:28 -0400

International Monetary Fund chief Christine Lagarde arrives for a second day of the court hearing at a special court house, in Paris, Friday, May 24, 2013. Lagarde faced questioning at a special Paris court Friday over her role in the 400 million euro ($520 million) pay-off to a controversial businessman when she was France's finance minister. (AP Photo/Thibault ...

Why arent more homeowners selling

Fri, 24 May 2013 16:44:16 -0400

The share of San Diego County borrowers who are underwater on their mortgages continues to fall due to home-price gains, says a recent analysis from real estate website Zillow. So why aren't more homeowners freed from negative equity listing their homes in this supply-constrained ...

Sears CEO Lampert terse on $279M in red ink

Fri, 24 May 2013 16:41:49 -0400

Eddie Lampert is finally breaking his silence, but he still seems to have trouble saying, "Ship Your Pants."The notoriously tight-lipped hedge-fund tycoon, who took over as CEO of Sears Holdings in February, made a rare conference-call appearance yesterday after the retailer reported a wider-than-expected loss.The Yale-educated billionaire was notably stiff during the call, with a ...

Some Hulu bigs flee as sale proceeds

Fri, 24 May 2013 16:41:48 -0400

The No. 1 thing being streamed by Hulu these days just may be anxiety.As first-round bids for the big premium online video destination were due yesterday, recent changes to the 6-year-old venture’s business model have left many employees of the firm jittery - and some heading for the exits, The Post has learned."Everyone is looking for jobs," one West Coast source told The Post ...

Microsoft Cleared of Xbox Patent Violation

Fri, 24 May 2013 16:38:14 -0400

Motorola Mobility, which is owned by Google, had asked the US International Trade Commission in 2010 to halt the import of the device due to the alleged patent violation. The case was part of a broader patent war between the companies. Microsoft claims that phones running Google's Android software violate its patents, while Google says ...

Watching Risk-Reward Ratios Economic Data Still Positive - But Rate is Slowing

Fri, 24 May 2013 16:36:44 -0400

Risk-reward ratios are on our radar screen these days as we review the most recent economic data against the backdrop of recent market movement. This is not to say that we are in any way suggesting a top, a bear market, or even that a correction is on the horizon, even taking into account this past week's movement and volatility--although each of these scenarios remains a possibility. At ...

US STOCKS-Wall St posts 1st weekly loss since mid-April on Fed angst

Fri, 24 May 2013 16:35:47 -0400

Fri May 24, 2013 4:35pm EDT * S&P 500 slips but well off lows as investors buy on the dip * P&G shares jump after CEO replacement * Investors anxious about Fed's possible stimulus exit * Dow up 0.1 pct; S&P 500 down 0.1 pct; Nasdaq flat By Angela Moon NEW YORK, May 24 (Reuters) - The S&P 500 declined for a third day on Friday, with the three major U.S. stock indexes posting their first ...

A First Per-Student Spending Down at Schools

Fri, 24 May 2013 16:34:48 -0400

The amount of money spent per public school student fell in 2011 for the first time since the Census Bureau began keeping records more than three decades earlier, as economic woes finally caught up with educational realities. "This is clearly the fallout from the Great Recession," said Michael Petrilli, executive vice president of the Thomas B. Fordham Institute, a conservative ...

Banks Violated Mortgage Pact NY AG

Fri, 24 May 2013 16:34:47 -0400

Wells Fargo and other banks violated the terms of a settlement designed to end mortgage servicing abuses. Schneiderman, who has said he plans to sue Bank of America and Wells Fargo for failing to live up to their obligations under the deal, said other states had found similar problems. "Several other states have identified similar recurring deficiencies by the participating servicers," ...

Falcones Helicopter Heads to Hamptons

Fri, 24 May 2013 16:34:46 -0400

One of the incoming flights we noticed today is a helicopter that belongs, in part, to former hedge fund titan Philip Falcone. It's not a Harbinger Capital asset, by the way. Falcone personally is listed as one of the owners. ...

Wall Street is writing its own regulation bill

Fri, 24 May 2013 16:30:31 -0400

USA Bank lobbyists have a direct influence on financial legislation drafted in Congress, and are in some cases even writing the measures themselves. Citigroup this month drafted a regulation bill that has already passed through a House committee. To soften financial regulations, bank lobbyists frequently 'assist' lawmakers in writingdraft legislation that serves to benefit them at ...

Xbox One uncertainty earnings drag down GameStop

Fri, 24 May 2013 16:25:19 -0400

Xbox 360 games won't work with the Xbox One Neither of those factors are pleasing investors, who had sent shares soaring more than 100 percent over the past 12 months through last Friday. GameStop's shares tumbled 11 percent Friday to $32.10, putting the week's drop at 19 percent. Particularly worrisome is what GameStop's business will look like if it becomes more ...

Exclusive Mall owner General Growth eyes NYs Madison Ave - sources

Fri, 24 May 2013 16:22:37 -0400

Attendees pass by the General Growth Properties booth during the International Council of Shopping Centers convention in Las Vegas, May 18, ...

Canada International Reserves Down $68 Million in Week Ended May 23

Fri, 24 May 2013 16:19:46 -0400

Canada's official international reserves fell $68 million in the week ended May 23, the Bank of Canada reported on its website.At May 23, the official international reserves totaled $70.703 billion, compared with $70.771 billion at May 15.The reserves included:-U.S. dollars, $38.878 billion;-other foreign currencies, $18.848 billion;-gold, $141 million;-special drawing rights, $8.458 ...

PRECIOUS METALS HIGHLIGHTS Top Stories of the Day

Fri, 24 May 2013 16:19:43 -0400

TOP STORIES South Africa Mines Minister Says National Union of Mineworkers 'Under Siege'JOHANNESBURG--South Africa's mining minister seemed to take sides Friday in a contentious labor union battle, even as labor tensions remain high between rival unions at the country's mines.STORIES OF INTEREST 2nd UPDATE: Barrick's Pascua-Lama Mine Halted by Chilean ...

A larger issue at much lower rates Empire Life cleans up

Fri, 24 May 2013 16:18:22 -0400

Four years after tapping the debt markets, The Empire Life Insurance Co. has returned with a similar structure but this time out will it enjoy the benefits of both lower interest rates and a lower spread relative to the benchmark, the yield on five-year bonds issued by the government of Canada. In May 2009, the Kingston-based insurer that’s part of the E-L Financial Group, raised ...

Wall Street on track for first losing week since mid-April

Fri, 24 May 2013 16:15:04 -0400

US stocks mostly declined for a third day, putting indexes on track, on lingering concern that the US central bank may scale back its stimulus ...

UPDATE 1-U.S. audit regulator reaches deal with China on document access

Fri, 24 May 2013 16:14:14 -0400

Fri May 24, 2013 4:14pm EDT * U.S.-China deal reached after years of negotiations * Deal will pave way for auditor enforcement actions * U.S. had been blocked from probing Chinese audit failures By Dena Aubin and Sarah N. Lynch NEW YORK, May 24 (Reuters) - U.S. regulators will get access to Chinese companies' audit documents under a deal announced on Friday, opening the way to probes of ...

US STOCKS SNAPSHOT-Wall St wanes on Fed uncertainty SP dips for 3rd day

Fri, 24 May 2013 16:10:46 -0400

NEW YORK | Fri May 24, 2013 4:10pm EDT NEW YORK May 24 (Reuters) - The S&P 500 declined for a third day on Friday with the three major U.S. stock indexes posting their first negative week since mid-April on lingering concern that the U.S. central bank may scale back its stimulus measures to support the economy. The Dow Jones industrial average edged up 8.60 points, or 0.06 percent, to ...

Americans plan summer vacations but with incomes stagnant some families keep trips modest

Fri, 24 May 2013 15:33:39 -0400

NEW YORK - This summer, high rollers are flying to lavish hot spots for their vacations. The rest of us are driving to less luxurious places like nearby campgrounds. The good news: At some U.S. campgrounds these days you get live bands, air guitar contests and chocolate pudding slip `n slides. Americans' plans for summer travel mirror the current state of the economy. Rising home prices ...

Yahoo among bidders for Hulu sources

Fri, 24 May 2013 15:30:44 -0400

Yahoo! jumped into the bidding today for Web video destination Hulu, The Post has learned. Sources close to the process say the bids from Yahoo! and half a dozen other suitors value Hulu north of a billion dollars. If Yahoo is successful, it could be CEO Marissa Mayer’s second $1 billion deal inside a month. The company just acquired micro-blogging service Tumblr for $1.1 billion.Yahoo said ...

How the smartphone killed the three-day weekend

Fri, 24 May 2013 15:29:50 -0400

By Bob Sullivan, Columnist, NBC News Memorial Day weekend marks the beginning of summer and all it evokes: vacations, slower workweeks, casual dress codes, getting the pool ready and pulling out the outdoor furniture.It would seem an ideal time to take a break, but our ability to unplug and relax is under assault. A three-day weekend? We can barely get through three waking hours without working, ...

Weird weather a boon for BrandAlley

Fri, 24 May 2013 15:26:10 -0400

Model Amy Hannam has some last minute adjustments made at the BrandAlley garden at the Chelsea flower show in London. Photograph: Andrew ...

Rupert Murdoch plans to poison News Corp takeover bids

Fri, 24 May 2013 15:26:09 -0400

The plan will act as a powerful disincentive to anyone seeking to challenge Rupert Murdoch's control of the two companies. Photograph: Facundo ...

Vince Cable The traditional high street banks have forgotten how to lend

Fri, 24 May 2013 15:26:07 -0400

When Jonathan Eddy wanted finance for his Basingstoke-based business, one of the traditional high street banks offered him a competitively priced loan - but then threw in fees that made it too expensive for him to proceed. Eddy, managing director of Asset Advantage, has a clear view why. "The traditional high street banks have forgotten how to lend," he ...

Energy suppliers held back gas during UK shortage

Fri, 24 May 2013 15:26:06 -0400

gas in storage tanks at a time when the market ran into an acute shortage two months ago, triggering a doubling of wholesale prices.The revelations came after claims the UK was within six hours of running out of gas completely on 22 March and will feed rising public and political anger over soaring power bills and previous allegations of market manipulation.The National Grid, which keeps data on ...

METALS OUTLOOK Gold Market To Watch Economic Data Options Expiration

Fri, 24 May 2013 15:25:41 -0400

Ben Bernanke on Wednesday regarding the fate of the Fed's bond-buying program. Worries that the Fed will taper off its asset purchases to stimulate the U.S. economy have hit gold and other markets, and the results of economic data releases will color traders' perceptions of what the Fed might do with the program. Market participants said they'll also watch to see how the Comex ...

Motherhood and Trading Are Doable

Fri, 24 May 2013 15:23:32 -0400

If a man will never share it, how can Jones know what it does to a woman's psyche? Paul Tudor Jones is a macro trader of obvious skill and intellect, but I wonder if he has even considered the possibility that his statement might not hold water over time. One could have said something similar years ago about doctors. Today there are just as many women graduating medical school as men. ...

Cut the Hassles of Summer Travel

Fri, 24 May 2013 15:23:32 -0400

There's a lot that can go wrong on a summer vacation. You can pay too much for a plane ticket, get stuck in a lousy hotel or get sick in a foreign country. The best way to reduce your odds of having a vacation nightmare is to plan ahead and know how to work the system. If you're looking for a travel deal, like to cruise and aren't worried about a rash of recent problems at ...

Beware Postcards Promising Free Trips

Fri, 24 May 2013 15:23:31 -0400

Baited mousetraps are landing in mailboxes around the country in the form of postcards and letters promising two round-trip airline tickets plus a hotel room or a free cruise if you call a toll-free number right away. These "award notices" often include the names of major airlines and well-known hotels. But the real companies have nothing to do with the notices. "These are ...

Fixing Bridges Corporate Taxes Op-Ed

Fri, 24 May 2013 15:23:31 -0400

one estimate , there are more than 68,000 "structurally deficient" bridges in America. Another report suggest we need to spend more than $20 billion annually just to work through our bridge backlog by ...

European stock markets steadier after sharp drop

Fri, 24 May 2013 15:23:29 -0400

LONDON/HONG KONG--European stock markets rebounded modestly on Friday, following sharp losses suffered the previous day, failing to record bigger gains despite positive German economic ...

Oil market slips ahead of US economic data

Fri, 24 May 2013 15:23:28 -0400

Brent North Sea crude for delivery in July dipped nine cents to US$102.35 a barrel, one day after striking a three-week low at US$100.64 on the back of poor Chinese economic data. New York's main contract, light sweet crude for July, slipped 35 cents to US$93.90 a barrel. Dealers meanwhile set aside news of bright news on eurozone powerhouse economy Germany. German business confidence rose ...

State Department posts feedback on Keystone pipeline

Fri, 24 May 2013 15:10:21 -0400

WASHINGTON (Reuters) - The State Department says it is taking the unusual step of releasing publicly the feedback it has received about a controversial pipeline project after an "unprecedented" response to its draft environmental ...

Exclusive DBRS to rate all euro zone sovereigns by year-end

Fri, 24 May 2013 15:10:21 -0400

An illuminated euro sign is seen in front of the headquarters of the European Central Bank (ECB) in the late evening in Frankfurt January 8, ...

DOJ subpoenas documents on Forest Labs inhalation drug

Fri, 24 May 2013 15:10:20 -0400

FRX.N ) received a subpoena earlier this month from U.S. prosecutors requesting documents relating to its small-selling lung disorder product, the Tudorza Pressair inhaler, the company said in a ...

Chiles BCI Bank Acquires Bankias City National For $882.8 Million

Fri, 24 May 2013 15:07:25 -0400

SANTIAGO, Chile – Banco de Credito e Inversiones SA (BCI.SN), Chile's third largest private bank in terms of loans, said in a filing with the local banking overseer it agreed to purchase Spanish Bankia SA's (BKIA.MC) City National Bank of Florida for $882.8 million.The purchase, which it said will close in the first quarter of next year, represents 12.6% of the bank's market ...

Citibank Asks U.S. Court for Argentina Bond-Payment Assurances

Fri, 24 May 2013 15:07:25 -0400

Citibank has asked a U.S. district court to confirm that its Argentine banking unit isn't bound by a ruling that bars the Argentine government from making payments on bonds it issued under New York law.Despite a previous ruling to that effect, Citibank is once more seeking assurances that payments made on Argentine law bonds held in custody at Citibank Argentina are beyond the reach of any ...

Dont Buy Talk of Dollars Demise

Fri, 24 May 2013 15:07:23 -0400

The demise of the U.S. dollar as the world's go-to currency appears to have been greatly exaggerated. Pointing to the scary 2008 financial crisis and America's bloated budget deficit, greenback haters have predicted the eventual move away the dollar for years, suggesting potential alternatives like the euro, gold and China's currency. But the dollar's status as the ...

Loblaw files preliminary prospectus for $7-billion REIT

Fri, 24 May 2013 15:06:00 -0400

Loblaw Cos. Ltd. filed a preliminary prospectus Friday for a planned $7-billion real estate investment trust for its sizable land portfolio under the name Choice Properties Real Estate. The units of the REIT will be priced at $10, comprised of 425 properties and 35.3-million square feet of leasable space. It includes 415 retail properties, an office complex and nine warehouse properties. The ...

Search on for Poloz’s replacement at Export Development Canada

Fri, 24 May 2013 15:05:59 -0400

OTTAWA -- With the appointment of Stephen Poloz as governor of the Bank of Canada, the search is on for his replacement at Export Development Canada. Mr. Poloz, currently president and CEO of the export credit agency, was chosen May 2 to replace bank governor Mark Carney, who is leaving June 1 to head the Bank of England. Mr. Poloz begins his new job on June 3. The quick turn-around means ...

Toronto Mayor Ford’s alleged crack use hasn’t hurt Moody’s ratings

Fri, 24 May 2013 15:05:59 -0400

Toronto Mayor Rob Ford's alleged cocaine use, which has become material for U.S. late-night comedy sketches and prompted calls for his resignation, hasn't impaired the city's ...

Microsoft Explains the Xbox Ones Cloud-Enhanced Graphics

Fri, 24 May 2013 15:05:39 -0400

IDG News Service - While Microsoft's next-generation Xbox One will have plenty of power on its own, sometimes it might opt for a little help from the ...

Obamacares union support waning

Fri, 24 May 2013 15:04:41 -0400

WASHINGTON Some labor unions that enthusiastically backed President Barack Obama's health care overhaul are now frustrated and angry, fearful that it will jeopardize benefits for millions of their members. Union leaders warn that unless the problem is fixed, there could be consequences for Democrats facing re-election next year. "It makes an untruth out of what the president said -- ...

What we think we know about what Microsoft isn’t saying about the Xbox One

Fri, 24 May 2013 15:02:25 -0400

For all of the things Microsoft has revealed about the Xbox One this week, the company has evaded and dismissed just as many important questions and concerns about the console. In an effort to clear the air, we've pieced together the best available information on three of these important issues while we wait for Microsoft to offer more ...

Yahoo joins growing list of bidders for Hulu -sources

Fri, 24 May 2013 14:55:31 -0400

By Ronald Grover LOS ANGELES | Fri May 24, 2013 2:55pm EDT LOS ANGELES May 24 (Reuters) - Yahoo Inc has submitted a formal proposal to buy Hulu, joining a growing list of bidders for the video service owned by News Corp and Walt Disney Co, two sources with knowledge of the bid told Reuters on Friday. Yahoo just this week announced a $1.1 billion acquisition of blogging service Tumblr. ...

Its a mixed shopping bag for three big retailers earnings

Fri, 24 May 2013 14:45:27 -0400

Foot Locker opened 25 new stores during the quarter and closed 39, for a current total of 3,321 stores in 23 countries, plus 45 franchised stores in the Middle East and South Korea. Retailers Foot Locker Inc. and New York & Co. reported better-than-expected first-quarter earnings but Aeropostale Inc. swung to a loss and said it expects a further loss in its second quarter. Athletic footwear and ...

US STOCKS SNAPSHOT-PG lifts Dow into positive territory

Fri, 24 May 2013 14:25:48 -0400

NEW YORK | Fri May 24, 2013 2:25pm EDT NEW YORK May 24 (Reuters) - U.S. stock indexes pared most of their earlier declines on Friday and the Dow pushed into positive territory, helped by a strong gain in shares of Procter & Gamble. The Dow Jones industrial average edged up 4.42 points, or 0.03 percent, at 15,298.92. The Standard & Poor's 500 Index were off 1.69 points, or 0.10 ...

Planemaker Embraer Sees American Closing Out US Regional Jet Cycle

Fri, 24 May 2013 14:25:44 -0400

SAO PAULO -- Embraer SA, the world's third-largest commercial jet maker, expects just one more big regional jet order as a result of its current U.S. sales campaign, Chief Executive Officer Frederico Curado said in an interview, after the Brazilian planemaker clinched three of four major deals since December. "After the American Airlines competition, the game is over for a ...

At midday TSX Wall Street lower ahead of long U.S. weekend

Fri, 24 May 2013 14:23:14 -0400

Trader Christopher Morie works on his handheld device on the floor of the New York Stock Exchange Monday, April 29, 2013. World stock markets were muted Tuesday May 7, 2013 as cheer over the better-than-expected U.S. jobs report faded. (Richard ...

Delta strengthens its hand in battle for NY travel market with $1.4 billion JFK terminal

Fri, 24 May 2013 14:21:51 -0400

Delta Air Lines is opening a $1.4 billion terminal at John F. Kennedy International Airport, strengthening its hand in the battle for the lucrative New York travel market. The expanded concourse offers sweeping views of the airport, upscale food and shopping options and increased seating. It replaces a decrepit terminal built by Pan Am in 1960 that was an embarrassing way to welcome millions of ...

Futures Movers Oil cuts loss stays on track for weekly decline

Fri, 24 May 2013 14:17:29 -0400

SAN FRANCISCO (MarketWatch) -- Oil futures on Friday were on track to log a decline for a fourth session in a row, with concerns about lackluster energy demand following weak Chinese data helping to set prices up for a loss on the ...

Federal Reserve risks boom and bust as QE dilemma presses

Fri, 24 May 2013 14:14:02 -0400

quantitative easing programme at the "next few meetings" if the economic data warranted such a move.The former remark was good for a 1% gain on the US stock market. The latter comment sent prices into reverse and contributed to the 7% slump in the Nikkei 225 index on Thursday. The fallout continued on Friday as the Japanese stock market fell sharply before recovering.So which is it? Is ...

HSBC under fire from all sides at AGM

Fri, 24 May 2013 14:14:00 -0400

HSBC on Friday bombarded the group's board with barrage of accusations ranging from financing Mexican drug cartels to supporting tax havens, slashing jobs and mis-selling products.At the banking firm's first annual general meeting since paying a record $1.9bn (1.2bn) in penalties to settle US money laundering claims, they also rounded on the directors with charges of hunting down ...

Men Help Recharge US Luxury Buying

Fri, 24 May 2013 14:11:24 -0400

Most men might balk at spending $600 on a pair of Dior sneakers but for U.S. shoppers like Ephraim, an upbeat 30-year-old, such indulgences are becoming increasingly commonplace. Ephraim is the kind of man who gives luxury goods makers high hopes that the U.S. market can fuel future growth, as China runs out of steam and demand in Europe sags. "There is a cultural shift," Ephraim says ...

Farm Workers Get Paid A Little Bit More

Fri, 24 May 2013 14:11:22 -0400

Farm operators paid their hired workers an average wage of $11.91 per hour during the April 2013 reference week, up 4 percent from a year earlier. Field workers received an average of $10.92 per hour, up 4 percent from a year earlier. Livestock workers earned $11.46, up 51 cents. The field and livestock worker combined wage rate, at $11.10 per hour, was up 48 cents from a year earlier. Hired ...

Jeff Gordon may make his Coca-Cola 600 anniversary a winner

Fri, 24 May 2013 14:04:59 -0400

Dannie Walls/Icon SMI/Icon SMI He is no longer Wonder Boy, that derisive nickname the late Dale Earnhardt tagged Jeff Gordon with in 1995 when the fresh-faced Gordon was 23 and seemingly winning every other week on his way to his first Cup championship. Eighteen years later, Gordon now has stripes of gray on the sides of his hair, the paint scheme of a driver in winter, and he's ...

Did Microsoft stretch the truth in tablet ads

Fri, 24 May 2013 14:04:58 -0400

light-hearted TV ads that -- unlike those awful 2008 Jerry Seinfeld spots -- aren't cringeworthy. But in the Windows tablet ads that debuted this week, Microsoft used Siri to badmouth the iPad, and some Apple ...

BAT Smokes Out E-Cigarette Rivals

Fri, 24 May 2013 14:03:28 -0400

British American Tobacco (BAT) is preparing to launch its biggest assault to date on the electronic cigarette market as it attempts to bolster sales of tobacco substitute products. Sky News understands that the world's second-biggest tobacco company by sales is to launch Vype, a new e-cigarette brand, in the UK, France and Germany in the coming months. The launch, which will be backed ...

UBS France could face criminal investigation source

Fri, 24 May 2013 13:58:57 -0400

UBSN.VX ) French unit could be placed under formal investigation in the coming days as part of a broader probe into the Swiss bank's business practices, a person familiar with the matter said on ...

Ford to retain 1000 jobs at French plant after deal

Fri, 24 May 2013 13:58:57 -0400

F.N ) will retain 1,000 jobs at a plant in southwest France after striking a deal on Friday with local authorities to share the burden of new investments needed to keep the factory ...

Exclusive NY attorney general says more evidence banks violated mortgage pact

Fri, 24 May 2013 13:58:56 -0400

NEW YORK (Reuters) - New York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America Corp, Wells Fargo and Co and other banks violated the terms of a settlement designed to end mortgage servicing ...

Monte Paschi might not be an isolated bank case in Italy Chairman

Fri, 24 May 2013 13:58:56 -0400

"There could be other cases similar (to the one of Monte dei Paschi)," Profumo said at a conference in Bagnaia, close to Siena, where Monte Paschi is ...

Burning Airbus makes emergency landing at Heathrow

Fri, 24 May 2013 13:56:28 -0400

A British Airways plane trailing smoke made an emergency landing on Friday morning at Heathrow, leading to a temporary shutdown of the airport and the cancellation of hundreds of flights.The flight, heading to Oslo from Heathrow, returned to ...

Deutsche Bundesbank VP Fed Proposals on Foreign Banks Not Helpful for Supervision

Fri, 24 May 2013 13:56:10 -0400

Germany's top banking supervisor urged the U.S. to abandon its insistence on forcing big foreign banks to operate through separately capitalized subsidiaries, warning it could trigger a chain reaction in Europe and other jurisdictions that could fragment world financial markets."If one starts with renationalization, others will follow. The danger will increase that everybody makes their ...

Fitch Places Ally Financial on Stable Ratings Outlook Following ResCap Settlement

Fri, 24 May 2013 13:56:10 -0400

Fitch Ratings removed Ally Financial Inc. from a negative ratings watch after the government-owned auto lender reached a deal with its Residential Capital mortgage subsidiary and the unit's creditors that will help the company avoid litigation.The ratings firm on Friday also said it affirmed Ally's long-term rating of BB- and said the company's outlook is stable.Ally said Thursday ...

Chile Environmental Overseer Halts All Operations at Barricks Pascua Project

Fri, 24 May 2013 13:56:10 -0400

The Chilean government's recently created Environmental Superintendency halted all construction operations at Barrick Gold Corp.'s (ABX, ABX.T) Pascua-Lama project that reaches across the Andes Mountains into Argentina, and fined the company $15.8 million for not meeting norms stipulated in the environmental approval it received in 2006.The Environmental Superintendency, which became ...

AMR Seeks to Buy Back Bonds Ahead of US Airways Merger

Fri, 24 May 2013 13:56:08 -0400

AMR Corp. (AAMRQ) is seeking court approval to buy back more than $1.2 billion in debt from noteholders, as the American Airlines parent continues to march toward finalizing its merger with US Airways Group Inc. (LCC).In a Thursday filing with U.S. Bankruptcy Court in Manhattan, AMR said it wants to buy back three sets of notes secured by its aircraft, issued before the company entered Chapter 11 ...

Spain to Grant Residency to Buyers of High-End Homes

Fri, 24 May 2013 13:56:04 -0400

Spain's government approved a plan to grant residency permits to foreigners who buy high-end homes, a step meant to breathe life into the country's moribund housing market.The measure, one of several announced Friday to encourage entrepreneurship, will award residency cards to those who spend at least EUR500,000 ($646,700) for real estate or invest at least EUR2 million in Spanish ...

BP Reliance NIKO Make Significant Gas Condensate Find In India

Fri, 24 May 2013 13:56:01 -0400

BP PLC (BP.LN) and partners Reliance Industries Ltd. (500325.BY) and NIKO said Friday they had made a significant gas and condensate discovery in the KG D6 block in the Krishna-Godavari field off the eastern coast of India where the partners are trying to boost declining gas output.The government of the energy-hungry nation is seeking to reduce dependence on oil and gas imports and is currently ...

See How Citigroup Wrote a Bill So It Could Get a Bailout

Fri, 24 May 2013 13:55:15 -0400

Citigroup lobbyists drafted a bill to allow more risky dealings by taxpayer-backed banks and--what do you know?--the House financial services committee passed nearly identical ...

RBC issues supplier code of conduct in wake of outsourcing backlash

Fri, 24 May 2013 13:54:47 -0400

TORONTO -- The Royal Bank is making a formal commitment that it won't send work offshore just to save on salaries. The bank faced fierce backlash earlier this year over an outsourcing arrangement with a supplier that used temporary foreign workers. The Royal Bank says it will only offshore work to suppliers when their scale, technology or knowledge provides capabilities the bank cannot ...

Endowment investing is not for everyone

Fri, 24 May 2013 13:53:40 -0400

(MoneyWatch) The success of the Yale Endowment has led many endowments, foundations and even individuals to focus on alternative investments and try to capture the liquidity premium available in illiquid investments. However, adopting such a model may be impractical. First, there is the question of liquidity. In addition to heavy exposure to private equity, the strategy often includes investments ...

Movers Shakers Friday’s movers Abercrombie Sears not in fashion

Fri, 24 May 2013 13:04:08 -0400

Bootstrapping for start-ups When start-up financing is scarce, entrepreneurs should look to bootstrapping. Angel Investor Dale Murray explains what it is and how to attract ...

Bond Report Treasurys move higher as investors buy cheap

Fri, 24 May 2013 13:04:07 -0400

NEW YORK (MarketWatch) -- Investors bought back into Treasurys Friday after a substantial selloff this week, helping the safe-haven debt hold onto gains after a manufacturing report on orders for long-lasting big-ticket items came in better than ...

Metals Stocks Gold futures retreat pare gains for the week

Fri, 24 May 2013 13:04:06 -0400

SAN FRANCISCO (MarketWatch) -- Gold futures posted modest losses on Friday, paring their gains for the week after a nearly 2% climb a day prior, as investors grew wary ahead of a long U.S. holiday ...

Wall Street drops on uncertainty

Fri, 24 May 2013 13:02:03 -0400

"We've had some volatility this week that we really haven't experienced in a month or so, so it's got a little bit of uncertainty here," said Joe Bell, a senior equity analyst at Schaeffer's Investment Research in ...

Microsoft To Windows 8 Haters Try This Mouse

Fri, 24 May 2013 13:01:40 -0400

Windows 8 users have little use for Modern UI apps , and that desktop and laptop users are particularly unengaged. The findings were, to a degree, unsurprising; to many users, the Win8's Live Tile-dominated Start screen hasn't been, ...

FTSE 100 ends volatile week with a near 1 fall

Fri, 24 May 2013 13:00:37 -0400

Leading shares ended a volatile week - even by stock market standards - on a negative note ahead of the long Bank Holiday weekend.In the space of five trading days, the FTSE 100 soared to within 90 points of its all time high of 6930, achieved on 30 December 1999 at the peak of the dotcom boom, and then promptly recorded its worst daily performance for a year.Markets have been driven higher in ...

Gold price collapse hits pawnbroker profits

Fri, 24 May 2013 13:00:36 -0400

Shares in largest British high street gold buyer H&T slide as it warns that every 10% fall in the price of gold would wipe about 2m off its ...

G4S contract to run sexual assault referral centres damned

Fri, 24 May 2013 13:00:34 -0400

G4S , the controversial private security company, is to run services providing medical examinations and counselling for victims of rape and sexual assault in the West Midlands.The company has been awarded a three-year contract to take over two sexual assault referral centres (Sarcs) in Birmingham and Walsall. The national network of 33 centres across England which have developed over the past ...

How Motorsports Improves What We Drive

Fri, 24 May 2013 12:58:05 -0400

General Motors racing program, from the way its 450-horsepower V-8 works to the carbon fiber panels used to reduce the sports car's weight and lower its center of gravity. "Motorsports play a key role for us in improving our street cars and power-trains," explained Jim Campbell, head of the Detroit maker's well-funded motorsports program. And GM isn't alone. Most auto ...

Soccer Tickets Shocker Two for $21000

Fri, 24 May 2013 12:58:04 -0400

German soccer fans desperate to snap up tickets to Wembley's Champions League final on Saturday are being charged up to 14,000 ($21,166) for a pair of tickets on the black market, the Daily Mail reported on Friday. German rivals Borussia Dortmund and Bayern Munich will battle it out for the coveted UEFA Champions League final this weekend, and up to 150,000 German football fans are expected ...

Meet The People Who Are Subverting Wall Street Reform

Fri, 24 May 2013 12:54:18 -0400

Commodity Futures Trading Commissioner Mark Wetjen Three years after Congress passed sweeping reforms of Wall Street, the industry has successfully widened a variety of cracks in the Dodd-Frank law. But credit for the industry's success at watering down the landmark legislation doesn't just go to well-heeled lobbyists - regulators and lawmakers are helping. ...

Senator urges extreme caution on Softbank-Sprint deal

Fri, 24 May 2013 12:45:41 -0400

WASHINGTON (Reuters) - An influential senator on Friday expressed strong concerns about Japanese company Softbank Corp's plan to buy 70 percent of Sprint Nextel, the No. 3 mobile service provider, warning it could expose the United States to more Chinese cyber ...

Spains Bankia Close to Selling Florida Bank to Chiles BCI - Sources

Fri, 24 May 2013 12:42:52 -0400

Spain's Bankia SA (BKIA.MC) is close to selling City National Bank of Florida to Chilean bank Banco de Credito e Inversiones SA (BCI.SN) for close to $900 million, according to people familiar with the situation.The transaction is expected to be approved by Bankia's directors later Friday, these people said.The sale forms part of Bankia's plan to shed assets to boost capital ratios ...

Commerzbank CEO to Buy Shares Worth EUR170000

Fri, 24 May 2013 12:42:51 -0400

Commerzbank AG (CBK.XE) Chief Executive Martin Blessing, who will fully participate in the bank's capital increase that is under way, will buy new shares worth about EUR170,000, according to a Dow Jones Newswires calculation."I will fully exercise my subscription rights," Mr. Blessing said Friday.Currently, Mr. Blessing holds almost 40,000 shares in Commerzbank.If fully exercising ...

EUROPE MARKETS Europe Stocks End Choppy Week 1.7 Lower

Fri, 24 May 2013 12:42:51 -0400

LONDON – European stock markets added to the prior day's sharp losses Friday, tracking stocks lower in the U.S., with better-than-expected economic data failing to offset concerns about a possible end to the U.S. stimulus program.The Stoxx Europe 600 index lost 0.2% to 303.35, closing out the week 1.7% lower and breaking a four-week winning streak.Earlier in the week, most of ...

Luxury Brands New Cash Cow Men

Fri, 24 May 2013 12:42:50 -0400

PARIS/NEW YORK – Most men might balk at spending $600 on a pair of Dior sneakers but for U.S. shoppers like Ephraim, an upbeat 30-year-old, such indulgences are becoming increasingly commonplace. Ephraim is the kind of man who gives luxury goods makers high hopes that the U.S. market can fuel future growth, as China runs out of steam and demand in Europe sags. "There is a cultural ...

Chile blocks Pascua-Lama mine fines Barrick Gold $16 million for serious environmental violation

Fri, 24 May 2013 12:41:22 -0400

VALLENAR, Chile -- Chile's environmental regulator has stopped construction and imposed sanctions on Barrick Gold Corp.'s $8.5 billion Pascua-Lama project, citing "serious violations" of its environmental permit. The $16-million fine is the maximum allowable under Chilean law. It was applied Friday because the world's largest gold mining company acknowledged that it ...

‘We are in economic terms all Japanese’ Paul Krugman

Fri, 24 May 2013 12:41:22 -0400

A generation ago, Japan was widely admired – and feared – as an economic paragon. Business best-sellers put samurai warriors on their covers, promising to teach you the secrets of Japanese management; thrillers by the likes of Michael Crichton portrayed Japanese corporations as unstoppable juggernauts rapidly consolidating their domination of world ...

Billionaire Says Babies Destroy A Womans Focus In Wall Street Jobs

Fri, 24 May 2013 12:41:21 -0400

Speaking at a symposium at the University of Virginia last month, hedge fund billionaire Paul Tudor Jones suggested that having babies kills a woman's focus, rendering her unable to succeed in the trading industry. According to ...

When it comes to vacations the U.S. stinks

Fri, 24 May 2013 12:40:05 -0400

(MoneyWatch) The U.S. has a unique tradition when it comes to celebrating holidays: It doesn't. "The United States is the only advanced economy that does not guarantee its workers any paid vacation time and is one of only a few rich countries that does not require employers to offer at least some paid holidays," concludes ...

Photos Builder Makes Worlds Largest Lego Model

Fri, 24 May 2013 12:37:34 -0400

Thousands gather in New York City's Times Square on May 23, 2013 to watch the unveiling of the world's largest LEGO Model, a 1:1 replica of the LEGO Star Wars X-wing Starfighter that took 32 model builders, 5.3 million LEGO bricks and over 17,000 hours to complete. The original toy with retracting wings is made of 560 bricks and costs ...

Wall Street Lower on Fed Worries

Fri, 24 May 2013 12:30:35 -0400

United States stocks fell for a third day on Friday, putting indexes on track for their first negative week since mid-April, on lingering concern the Federal Reserve may scale back its support to the economy. In afternoon trading, the Standard & ...

RPT-UPDATE 2-News Corps publishing business to initiate stock buyback

Fri, 24 May 2013 12:29:08 -0400

By Jennifer Saba May 24 (Reuters) - News Corp set the distribution ratios for the spinoff of its publishing business, which may start buying back stock right away. The board of the publishing business, which will retain the News Corp ...

Stocks head lower market on track for weekly loss

Fri, 24 May 2013 11:54:29 -0400

FILE - In this Thursday, May 23, 2013, file photo, Trader Donato Cuttone works on the floor of the New York Stock Exchange near the close of trading. Asian shares traded erratically Friday May 24, 2013 but European markets found their footing, a day after global stocks were routed by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary ...

Breast cancer trigger found by Salk researchers

Fri, 24 May 2013 11:53:02 -0400

Called transforming growth factor beta, or TGF-?, the protein interacts with p53, a well-known tumor suppressor gene disabled in many cancers. In cells which have just begun to transform into cancer, the TGF-? protein inhibits apoptosis, or programmed cell death, which the p53 protein helps regulate. Free of the control of p53, the precancerous cells continue down the road to becoming ...

Makers Quarter Next It place

Fri, 24 May 2013 11:53:02 -0400

Makers Quarter, south of City College, might include this 400-foot-high-residential tower, mid- and low-rise offices and retail and cultural space surrounding the planned East Village Green ...

San Diego Gymnastics opens in Otay Ranch Town Center

Fri, 24 May 2013 11:53:00 -0400

The new addition is just one of the many creative ways Otay Ranch Town Center has come up with to keep traffic coming to the mall during a difficult time for the retail ...

Popular bayfront shuttle returns

Fri, 24 May 2013 11:53:00 -0400

San Diego's downtown-bayfront shuttle, which debuted last year, is returning for the summer season, beginning on Friday, in time for the Memorial Day ...

What if mortgage rates shoot up

Fri, 24 May 2013 11:53:00 -0400

Peter McNamara and his 5-year-old daughter Keira look at a model home at a Pardee Homes' Watermark community near Carmel Valley on a recent Sunday. Record-low mortgage rates are helping drive up homebuyer ...

Asian Stocks End Mixed Nikkei Rises After Turbulent Trading

Fri, 24 May 2013 11:52:15 -0400

Asian stocks traded mixed on Friday, with extreme volatility in Japanese shares keeping investors nervous. Japan's Nikkei index swung over 1,000 points for a second day in a row before ending notably higher on optimism over earnings growth and ...

Pain but no gain SEC fines ISS but whistleblower still waiting for his reward

Fri, 24 May 2013 11:50:10 -0400

Blowing the whistle doesn’t pay.Carl Clark, who was fired from his job at Georgeson Inc. after exposing a scheme to sell confidential corporate voting data, stands to receive little or no reward for helping regulators crack the case. Yesterday, Institutional Shareholder Services, the largest shareholder advisory firm, agreed to pay $300,000 to the Securities and Exchange Commission to ...

Market Snapshot U.S. stocks slump weekly streak in jeopardy

Fri, 24 May 2013 11:48:38 -0400

NEW YORK (MarketWatch) -- U.S. stocks traded firmly in the red Friday after another volatile session for Asian markets, with upbeat durable-goods data failing to overcome negative sentiment. Concerns about a potential tapering in the Federal Reserve's bond-buying program ...

Currencies Yen continues advance against dollar

Fri, 24 May 2013 11:48:37 -0400

NEW YORK (MarketWatch) -- The Japanese yen gained against the U.S. dollar Friday, extending an advance that was spurred in part by a selloff in Japanese ...

NatWest RBS and Ulster Bank apps hit by glitches

Fri, 24 May 2013 11:44:39 -0400

apps for several hours on Friday in the latest in a series of glitches to hit the group's IT systems.Problems were experienced by customers trying to use all three brands' apps across a range of platforms, who reported error messages when they tried to log in to check balances or arrange payments ahead of the bank holiday weekend. Some said they were being told that the app needed an ...

Oil Could Make Dollar a Hot Commodity

Fri, 24 May 2013 11:41:51 -0400

The world's largest consumer of energy is in the midst of a resurgence in energy production, one that could realign one of the market's most reliable barometers: The negative link between the U.S. dollar and oil. With the U.S. suddenly awash in oil and gas, it has raised the question of whether the greenback can join the ranks of the dollars of Canada and Australia as a "commodity ...

Keeping Watch for a Too-Strong Economy

Fri, 24 May 2013 11:41:51 -0400

Fed's Bullard Wants Faster Inflation Before Tapering QE ) "We're at the home stretch and that's why this vacuum between now and the nonfarm payrolls is going to be a dripless market for bonds and equities," said George Goncalves, Treasury strategist at Nomura Americas. "The assumption is things are going to get better. What if it's a weak number? Can we actually ...

McDonalds CEO McGrilled by 9-Year-Old

Fri, 24 May 2013 11:41:51 -0400

McDonald's needs kids more than today's kids need McDonald's. Perhaps no one knows that better than CEO Don Thompson, who was seriously put on the hot seat by a 9-year-old girl at Thursday's annual shareholder's meeting in Oak Brook, Ill. For a few moments, Hannah Robertson--whose mother, Kia, is a kid's nutritional activist and creator of an interactive ...

Hot Trend in Cars Not Owning One

Fri, 24 May 2013 11:41:50 -0400

Whether by choice or through financial reality, the percentage of American households without a car has doubled over the past two decades--and is now approaching 1 in 10. The impact of this trend could be significant, especially when it comes to alternatives to driving, such as car-sharing and mass transit, according to research ...

Fortune Brainstorm Podcast Caterpillar CEO Doug Oberhelman

Fri, 24 May 2013 11:35:31 -0400

Each Fortune conference -- from Brainstorm Green, Brainstorm Tech, to the Most Powerful Women Summit, and the Global Forum -- yields fascinating conversations with the best and brightest minds in ...

UPDATE 4-Raiffeisen CEO quits over offshore deals

Fri, 24 May 2013 11:34:53 -0400

Fri May 24, 2013 11:34am EDT * CEO Stepic offers resignation for "personal reasons" * Says acting to protect bank from reputational harm * Step follows revelations about Singapore flat purchases * Shares pare losses, down 2.4 pct By Georgina Prodhan and Michael Shields VIENNA, May 24 (Reuters) - Raiffeisen Bank International Chief Executive Herbert Stepic resigned on Friday in what he ...

The Sky News Business Round-Up And Look Ahead

Fri, 24 May 2013 11:34:16 -0400

We no longer check to see whether Sky News displays properly in Internet Explorer version 6 or earlier. To see our content at its best we recommend upgrading if you wish to continue using Internet Explorer or using another browser such ...

AirAsia may order 50 more Airbus jets CEO

Fri, 24 May 2013 11:29:50 -0400

AIRA.KL ), may order an additional 50 Airbus A320 jets on top of its existing record order for 475 of the Airbus model, Chief Executive Tony Fernandes said on ...

Henrik Fisker joins Hong Kong tycoon to salvage Fisker sources

Fri, 24 May 2013 11:29:49 -0400

DETROIT/BEIJING (Reuters) - Henrik Fisker is working with an investor group to salvage Fisker Automotive, the "green" car company he co-founded nearly six years ago that is now struggling to stave off bankruptcy, people familiar with the matter said this ...

Wall Street lobbyists frequently help draft financial legislation

Fri, 24 May 2013 11:29:19 -0400

Kenneth E. Bentsen Jr., left, a Wall Street lobbyist, at a House financial services panel meeting. WASHINGTON -- Bank lobbyists are not leaving it to lawmakers to draft legislation that ...

Abercrombie Fitch earnings stumble stock slumps

Fri, 24 May 2013 11:27:30 -0400

Teen retailer Abercrombie & Fitch Co. stumbled hard in its first quarter, with same-store sales diving 15% and profit missing Wall Street’s ...

IFC Seeks to Invest $2 Billion in Brazil in Next Fiscal Year

Fri, 24 May 2013 11:26:56 -0400

International Finance Corp., a World Bank affiliate, is planning to invest around $2 billion in Brazilian companies in order to support the Latin American country's private-sector development, according to Loy Pires, IFC's senior manager for Brazil.The investment plan will take place in the next fiscal year starting July. By comparison, in the July 2012-June 2013 fiscal year, IFC's ...

SURVEY Agriculture To Underpin Modest Brazil 1st Quarter GDP Recovery

Fri, 24 May 2013 11:26:54 -0400

Latin America's biggest country will show a modest recovery in gross domestic product when first-quarter figures are released next week, but economists say it is too soon to celebrate a full-fledged 2013 recovery.A survey of 14 economists by Dow Jones Newswires resulted in a median forecast of 2.38% for year-on-year first-quarter economic expansion. Actual fourth-quarter growth was 1.4%. The ...

LONDON MARKETS U.K. Stocks Slides As Miners Banks Decline

Fri, 24 May 2013 11:26:54 -0400

LONDON – U.K.'s FTSE 100 index dropped on Friday, with mining firms adding pressure as metals prices turned south and with banks extending the prior day's losses.The FTSE 100 index lost 0.8% to 6,645.67, on track for a 1.2% weekly loss.BT Group PLC dropped 1.9%, after J.P. Morgan Cazenove cut the telecoms firm to neutral from overweight, citing regulation, pension and BT Sport as ...

Dow Chemical to Use Kuwait Award to Pay Down Up to $2 Billion in Debt

Fri, 24 May 2013 11:26:53 -0400

Dow Chemical Co. (DOW) said it will use part of a recent arbitration payment from the Petrochemical Industries Company of Kuwait to pay down up to $2 billion in debt this year.The company recently received $2.2 billion for damages in cash from its Kuwaiti partner--one of the largest ever from a corporate arbitration--after the state-owned firm pulled out at the last minute from a $17.4 billion ...

Video ATT adding new fee to wireless contracts

Fri, 24 May 2013 11:24:31 -0400

Stocks opened lower despite better than expected news on durable goods orders, AT&T has reportedly added a new 61 cent monthly fee for all wireless contracts, and new federal rules require more detailed labels on meat packages. Ashley Morrison ...

McDonalds CEO Scolded By 9-Year-Old

Fri, 24 May 2013 11:22:07 -0400

Don Thompson, CEO of McDonald's Corp., found himself on the grill after a 9-year-old girl accused the fast food giant of trying to "trick kids into eating food that isn't good for them." Hannah Robertson, 9, flew in with her mom from Kelowna, British Columbia, to attend McDonald's annual shareholder meeting Thursday in Oak Brook, Ill., the company's headquarters. ...

US stocks fall amid global caution

Fri, 24 May 2013 11:16:18 -0400

US stocks have fallen in early trade with caution reigning a day after a shock sell-off in Asia and Europe and ahead of the three-day US Memorial Day holiday weekend. Thirty minutes into Friday trade, the Dow Jones Industrial Average was down 55.16 points (0.36 per cent) to 15,239.34. The broad-based S&P 500 lost 9.40 (0.57 per cent) to 1,641.11, while the tech-rich Nasdaq Composite fell 20.36 ...

Google and Facebook in bidding war over Waze travel app company

Fri, 24 May 2013 10:51:11 -0400

The travel app company Waze is believed to be the subject of a billion-dollar bidding war between Google and Facebook, in a move apparently aimed at tying its social functions more closely into the rival firms' networks.A fortnight ago reports suggested that Facebook had bid $1bn for the business, in order to wrap the "social travel" element into its billion-strong social network. ...

Walt Disney Imagineers Drive Innovation Through Video Game Technology

Fri, 24 May 2013 10:50:46 -0400

Walt Disney World's Magic Kingdom, Disneyland and Disney California Adventure theme parks are open for a full 24 hours today to celebrate Memorial Day weekend and the official start of the summer tourist seasons. As visitors enter these parks, they'll find a lot of new rides and attractions. Many of the innovations behind today's high-tech experiences come from inspiration from the ...

Will Lafleys PG Return Work

Fri, 24 May 2013 10:48:34 -0400

Squawk Box " interview. "[But] the downside of course: What did [he] contribute to the current mess?" The appointment of Lafley as chairman and CEO of P&G, the company he ran from 2000 to 2009, was announced Thursday and is effectively immediately. He succeeded embattled chief executive Bob McDonald--who had taken the reigns when Lafley retired. ...

UK Police Arrest Two Men on Pakistan Flight

Fri, 24 May 2013 10:48:34 -0400

Pakistan International Airlines flight on Friday on suspicion of "endangerment of an aircraft", after it was escorted to a different airport by fighter jets. The plane had been flying from Lahore in Pakistan to Manchester, before it was diverted to Stansted, in Essex, southern England. Flight PK709 from Lahore in Pakistan had been due to land at Manchester in northern England with 297 ...

World stock markets to grind higher

Fri, 24 May 2013 10:42:31 -0400

"This is a classic holiday market reversal," said Neil Shah, a director at London's Edison Investment. When investors and traders return to their desks after the long weekend in the U.S. and the U.K., stocks would continue moving higher, he said. Japan, where the ...

China solar companies shun home market in pursuit of margins

Fri, 24 May 2013 10:36:22 -0400

(Reuters) - Chinese solar panel makers are shunning their overcrowded home market in favor of lucrative exports, a switch that has helped to arrest a two-year slump in margins and push shares to 12-month ...

Insight Luxury brands position for U.S. boom

Fri, 24 May 2013 10:36:21 -0400

PARIS/NEW YORK (Reuters) - Most men might balk at spending $600 on a pair of Dior sneakers but for U.S. shoppers like Ephraim, an upbeat 30-year-old, such indulgences are becoming increasingly ...