Latest Breaking Business News
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Bernanke says more positive signs needed before scaling back stimulus
WASHINGTON - Chairman of the Federal Reserve, Ben Bernanke Wednesday said it was too soon to scale back the monetary stimulus and the central bank needs to see further signs of traction before taking a decision. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain ...
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Higher exports fail to plug widening Japan trade deficit
TOKYO - Japan's trade deficit rose substantially more than expected in the month April to 879.9 billion yen ($8.6 billion), which is a 70% jump over the trade deficit during the corresponding month a year earlier, the Finance Ministry said Wednesday.. The deficit, for the tenth consecutive month, was wider than what many economists had forecast. A survey from the Nikkei business daily ...
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Vitamin C offers hope of tackling drug resistant TB
WASHINGTON - Adding vitamin C to existing tuberculosis drugs regime could shorten the therapy for drug resistant TB, claims new research findings published in the online scientific journal Nature Communications. The striking discovery, by researchers at Albert Einstein College of Medicine of Yeshiva University, has determined that vitamin C kills drug-resistant TB bacteria in laboratory ...
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IMF warns UK against continuing austerity programme
LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...
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Labour reforms to top US team agenda on Bangladesh visit
DHAKA - A high level US delegation led by the State Department's Under Secretary for Political Affairs Wendy Sherman will visit Bangladesh this weekend to press for a major overhaul of labour safety regulations following the nation's deadliest industrial accident, an official said Wednesday. The collapse of a nine-storey factory complex housing several garment units outside the capital last ...
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Construction begins on new island off Jumeirah Beach in Dubai
Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...
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Chidambaram says U.S. Federal Reserves statement misunderstood calls for calm
Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves. Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor ...
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Dental supplier Patterson Cos. meets 4th qtr expectations
Patterson Companies of St. Paul, which makes medical supplies for dentists and veterinarians, met Wall Street earnings expectations for the fourth quarter and the ...
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H7N9 flu virus may be able to spread among people
Working with ferrets, the model for human transmission, the study found the potentially dangerous virus was transmitted by direct contact, but not efficiently through the air. Analyzing the viral gene sequence showed that the virus might have undergone mutations making it more easily transmissible in ...
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Late property tax notices to go out
The county will start to mail out more than 42,000 notices to taxpayers who have failed to pay their property taxes, said the San Diego County treasurer-tax collector's office on Thursday. The amount in unpaid taxes and late fees totals $94.1 ...
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Stock markets lose nerve on fears of end to quantitative easing
FTSE 100 came within 90 points of its December 1999 all-time high, the index slumped 143 points yesterday to 6696, wiping 36bn off the value of Britain's top companies.The 2.1% fall was the index's worst in one day since it lost just over 2.5% a year ago to the day, on fears that Greece could leave the eurozone. But after its recent strong surge this latest fall in the blue-chip index ...
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Why is Tesco paying a farewell bonus to its US boss
Companies tend to resent the suggestion that they have, by stealth, turned discretionary bonuses for executives into semi-guaranteed supplements to salary. But it's true - they have. Look at the payoff awarded ...
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Halfords eyes three-year turnaround but investors take fright
Halfords ' chief executive has outlined a three-year turnaround plan for the struggling bicycles and car parts chain, but it will come at a cost to investors, who have seen the dividend cut by 35%.Matt Davies has set a sales target of 1bn by 2016, but said that profits would remain flat for at least two years as the chain invests 100m in staff training, store revamps and a better online ...
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Tescos Fresh Easy boss awarded liquidation damages
Tesco 's failed US chain Fresh & Easy has received a 1.7m payoff despite the business being shut down after repeated losses.Tim Mason, who departed in December after 30 years at the group, was awarded "liquidation damages" equivalent to his annual salary plus a sum equal to his average bonus over the past two years.Tesco announced last month it would exit the US after racking ...
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Halfords investors face uphill climb until 2016
Matt Davies' revamp plan - Getting into Gear 2016 - is honest about the time required for a turnaround and investors must accept there are no quick ...
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Microsoft Introduces the Surface Tablet
The new Microsoft Surface tablet on display following a press conference at Pier 57 to officially launch Windows 8 and the tablet in New York on October 25, ...
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Under Arrest Now Under Glass Madoff
Bernie Madoff has joined yet another rogue's gallery, this time an actual museum gallery. In cooperation with the FBI, his victims and members of the Madoff family, the National Museum of Crime & Punishment this week opened a permanent exhibition devoted to one of the headlining villains of the Great Recession. "He is the No. 1 public enemy for financial crime," said Janine ...
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Make Mine Food Dye and Rubbing Alcohol
At least one bar in New Jersey has been mixing food dye with rubbing alcohol and serving it as scotch. That's one of the details released Thursday from the "Operation Swill" investigation by the state Division of Alcoholic Beverage Control. Twenty-nine bars and restaurants in the state are accused of putting cheap booze in premium brand liquor bottles and selling it to patrons who ...
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Mobile Devices Are Sitting Ducks Pros
When it comes to keeping their mobile devices safe and secure, consumers are playing a game of cat-and-mouse with cybercriminals. Although most users are aware that mobile devices can be hacked, just as desktops or laptops can, many still don't take steps to protect themselves and the data on their smartphones and tablets, according to a study released Wednesday at the CTIA conference in ...
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Can Microsofts Kinect finally deliver for gamers
original Kinect and promised next-level gaming free of controllers. What happened? It turned out that the Kinect hardware wasn't quite as advanced as we ...
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Buyout Firms Prepare To Battle For Hastings
Some of the biggest private equity firms in the City are preparing to do battle over a stake in the 800m motor insurer Hastings, Sky News understands. A pack of potential investors, led by Advent International, owner of the Domestic & General warranty provider, is in early-stage talks about acquiring a shareholding in Hastings. Five buyout firms are understood to have been invited to ...
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Pad this Apple Microsoft blasts iPad yet again in new ad
After getting Siri to do its critical work, Microsoft releases another ad comparing the iPad and Windows 8 tablet. Guess which comes out looking ...
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Microsoft to launch Kinect for Windows sensor in 2014
(Credit: Microsoft) Microsoft will finally deliver a Kinect sensor for Windows sometime next year. The company announced Thursday that the Kinect for Windows sensor will use the same set of technologies key to the new Kinect sensor for ...
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AEP NextEra Energy shares tumble at opening trades to stand
After a review of trades in those two stocks in the first minute of trading, the New York Stock Exchange said all of the trades will stand. However, it said all trades in AEP at or below $46.03 in that period, and all trades in NextEra at or below $76.19 will be marked with an "Aberrant Report ...
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Wall Street mostly dips but off lows with help from HP
NEW YORK (Reuters) - Stocks slipped on Thursday, recovering from session lows as encouraging domestic economic data and a rally in Hewlett-Packard's shares offset concerns about the timing of any reduction in the Federal Reserve's monetary ...
South America Featured
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Shipping Wars: Uruguay and Argentina face off over rival port expansion plans
Argentina and Uruguay both want to be the shipping hubs of South America, or southern South America at least, and both are planning to considerably expand their port infrastructure in Buenos Aires and Montevideo respectively, which is leading to considerable diplomatic strain.
Argentina is a regional power in South America, the country is considered one of the more developed nations on the continent on-par with Uruguay (on paper at least, with a similar per capita income and Human Development Index rating) although the country occupies a majority of the continent with Brazil and presides over a massive coastline. Read more
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