Latest International Business News
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Russia to spend $8 billion on 2018 World Cup
Russia is expected to spend no more than $8 billion to fund the 2018 football World Cup, a steep fall from the previously estimated $16.6 billion, Deputy Prime Minister Igor Shuvalov said. "All parameters that could have been cut have been cut. The last figure that (Sports Minister Vitaly) Mutko came to me with was 250 billion rubles ($7.94 billion)," Xinhua quoted Shuvalov as saying. The ...
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Seven Cubans to participate in World Judo Masters
Five female and two male Cuban judokas will participate in the 2013 World Judo Masters tournament, to be held in Russia's Tuymen city. The team is led by Idalis Ortiz, 2012 Olympic champion in the over 78 kg category, as well as London 2012 silver medallists Yanet Bermoy (52 kg category) and Asley Gonzalez (90 kg), reports Xinhua. Ortiz is ranked world No.1 in her class, while Gonzales is ...
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EU regulators seek tax transparency from companies
The European Commission said Thursday that it is working on a proposal to require corporate giants with operations in the European Union to publicly report profits, taxes paid and subsidies received on a country-by-country basis. Representatives of the 27 member-states agreed to seek ways to prevent multinationals from avoiding their obligations by channeling profits through subsidiaries in ...
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Former England skipper Illingworth says Fiery Fred Trueman better than Anderson
Former England captain Ray Illingworth has said that although bowling star James Anderson is the best swing bowler in the world now, but his former teammate and Yorkshire legend Fred Trueman was far better. Illingworth's statement comes on the backdrop of the second Test against New Zealand starting at Headingley, where Lancashire cricketer Anderson, on 305 wickets, is expected to cruise past ...
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Greater attention needed for safe childbirths UN urges on inaugural Day to end obstetric fistula
23 May 2013 150 The prevalence of obstetric fistula - a preventable and treatable condition linked to women's reproduction - among women and girls in developing countries is a denial of their human rights, senior United Nations officials today said urging global action to make childbirth safer. "The persistence of fistula is a result of human rights denied and a reflection of human rights ...
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D.W. Wilsons Ballistics is man’s book about a man’s world
, "have the strange power to remind us that our past is real." It would not be much of a leap to imagine this line issuing from the mouth of Archer Cole, one of the pivotal characters in expatriate author D.W. Wilson's debut novel. Archer is a deserter from the U.S. army who winds up in the eastern B.C. area of Invermere during the height of the Vietnam War, where his presence has ...
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Mayor Rob Ford again denies drug use in first comments this week
Toronto Mayor Rob Ford reads a statement denying drugs use allegations at his office at Toronto City Hall, Toronto May 24 2013. (Fernando Morales/The Globe and ...
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Oil finishes week down 2 percent on concerns about global demand Feds next move
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 ...
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Barrick fined $16 million over gold-mining project in Chile
Friday, May 24, 2013 | 1:30 p.m. VALLENAR, Chile -- Chile's environmental regulator blocked Barrick Gold Corp.'s $8.5 billion Pascua-Lama project on Friday and imposed its maximum fine on the world's largest gold miner, citing "very serious" violations of its environmental permit as well as a failure by the company to accurately describe what it had done wrong. After a ...
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Microsoft Cleared of Xbox Patent Violation
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 ...
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Why Googles Display Ad Business Drew FTC Antitrust Probe
probe of its display-ad business . This comes as little surprise to anyone who has been watching the search advertising giant's quiet but steady rise in the past few years in the business of placing banner and video ads on websites. But it's also no sure thing that this probe will go any further than the last one. According to ...
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Xbox One uncertainty earnings drag down GameStop
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 ...
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Prenda shell ordered to pay $9425 in attorney’s fees
View all… AF Holdings is one of several shell companies linked to Prenda Law, which threatened thousands of Internet users with lawsuits over downloading pornography. Now Prenda's on the ropes and the key lawyers behind it have been hit with a ...
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Glow-in-Dark Roach Worlds Smallest Frog Among Top New Species
A cockroach that glows in the dark, a black fungus that's ruining prehistoric cave art and a frog smaller than a child's fingernail. These are three in a top-ten list of newly discovered species for 2012. An international committee of taxonomists announced their annual picks this ...
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Tiger Global invests $50 million in Automattics WordPress
By Sarah McBrideSAN FRANCISCO (Reuters) - Automattic, the company that operates blogging service WordPress, announced a $50 million investment from hedge fund Tiger Global on Friday.The investment comes on the heels of Yahoo's $1.1 billion acquisition of blogging company Tumblr, showing the high prices fast-growing services that targeting Internet users can command. The valuation for ...
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Kohls compensation package for former Starbucks exec nearly $10M
Kohl's enticed former Starbucks exec Michelle Gass with a compensation package totaling nearly $10 million. Talk about sweetening the pot. New Kohls Corp. chief customer officer Michelle Gass, lured away from Starbucks Corp. this month, will receive a compensation package of nearly $10 million. Gass annualized base salary is $927,200, according to documents filed with the U.S. Securities & ...
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QA The best global real estate opportunities for investors right now
For this week's live discussion at Inside the Market, we're joined by Sam Sahn to discuss the best investing opportunities right now in the global real estate sector. Mr. Sahn is a portfolio manager overseeing real estate for Timbercreek Asset Management. The Timbercreek Global Real Estate Fund gained 26.9 per cent in the one year period up to March 31, 2013, excluding the management ...
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Are blockbusters bad for the DVD rental business
The trend of swinging for the fences with huge summer blockbusters, such as the upcoming "Man of Steel," has companies like Redbox concerned, as those types of movies don't rent as well as films with more moderate takes. Blockbusters are great for theatrical, but not so much for rental. Redbox is concerned that the 2013 summer of big franchise films will be bad for business when ...
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World President fires army chief after leaked letter
Uganda's president has made a major change in the army, removing the chief of the armed forces to the interior ministry and replacing him with a generalin charge of land ...
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News Corporation Board Approves Split of Company
The board at News Corporation approved a proposed split into two companies on Friday, and authorized a $500 million stock buyback for investors in the soon-to-be-formed publishing business. It also announced appointments to the board for both of the ...
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Fitz The Tantrums On World Cafe
. Undeniable songs and exciting concerts led the group to festival dates and other high-profile live appearances around the world. The band formed when L.A. studio engineer and musician Michael "Fitz" Fitzpatrick gathered friends such as fellow vocalist Noelle Scaggs to perform songs he'd written following a breakup. The core of the band convened again in 2012 to record the ...
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Fenech’s ‘speculative allegations baseless harm ongoing negotiations’ – Finance Minister
a press conference given earlier today by the Nationalist MP , during which he asked whether the government had wanted Malta to enter into excessive deficit procedure (EDP) in order not to implement "certain costly electoral promises". "Mr Fenech's statements are worrisome on several counts, not least among them being his suggestion that the Maltese government somehow ...
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Oil companies bristle over Enbridges sulfide gas limit in Bakken
By Jeanine Prezioso NEW YORK | Fri May 24, 2013 3:27pm EDT NEW YORK May 24 (Reuters) - Two oil companies that ship crude oil on Enbridge Energy Partners LP's North Dakota pipeline system filed motions with federal energy regulators this week over their concerns about Enbridge's proposal to limit the amount of potentially deadly gas in crude oil shipped on the line. Restrictions ...
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JPMorgan Chase CEO Survives Close Vote
Jamie Dimon, the CEO and chairman of JPMorgan Chase, easily survived a vote Tuesday that would have called on him to give up his role as chairman of the nation's largest bank. But shareholders sent a message that the bank needs better oversight by giving only narrow approval to three of the bank's board ...
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L.A. Job Market Boosted by Entertainment Industry Employment
The fastest-growing job sector for the city is the entertainment industry, the Los Angeles Times reported Thursday. The number of jobs slipped slightly from March to April, but that reflected seasonal trends, the Times said. From April 2012 to April 2013, the number of jobs in the city rose 2 percent to 3.9 million. "All indicators in the first part of 2013 suggest that ...
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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