Latest Breaking Business News
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Corn Prices Fall as Crop Gets Planted
Corn futures Tuesday skidded to multi-week lows on reports that U.S. farmers are catching up with crop plantings at a record-setting pace.The U.S. Department of Agriculture Monday reported that 71 percent of the corn crop was in the ground, versus 28 percent last week. In the last five years, an average 79 percent has been planted by this time of year.The increase of 43 percentage points amounts ...
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Ex-strategist can sue UBS as whistleblower U.S. judge
NEW YORK (Reuters) - UBS AG lost a bid Tuesday to dismiss a whistle-blower lawsuit by a former commercial mortgage-backed securities strategist who said he was fired for refusing to publish misleading research ...
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Japan exports disappoint full benefits of weak yen yet to show
TOKYO (Reuters) - Japan's exports rose less than expected in April from a year earlier due to weak demand from Europe and China, highlighting the challenges confronting the world's third-biggest economy as policymakers try to engineer a sustained ...
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Sony shares hit two-year high on report of spin-off proposal
6758.T ) rose 6.3 percent to 2,300 yen, a two-year high, on Wednesday after the Nikkei newspaper reported Sony is considering evaluating a proposal from top shareholder Third Point LLC to spin off its movie and music ...
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Xbox One Microsoft reveals new console that changes everything
Xbox console on Tuesday that not only integrates TV, internet and gaming, but also will measure your heartbeat and recognise your voice.The company said the Xbox One will revolutionise its users' lifestyles by integrating the cloud, voice control and gesture technology into a simple, intuitive machine."It changes everything," Marc Whitten, an Xbox executive, told a packed hall of ...
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Bank Of Spain Finds Banks Hide Real NPL Ratio on Retail Mortgages -Report
Bank of Spain inspectors have detected that the banking sector is hiding part of their clients' real nonperforming loans by refinancing them once and again, reports El Mundo in its Wednesday Internet edition.Citing a confidential document dated April 15, the newspapers adds inspectors have concluded that major Spanish banks have been agreeing to refinance once or even twice clients' ...
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IMF to Urge U.K. to Sell Stakes in RBS Lloyds -Report
Disposing of the public holdings in Royal Bank of Scotland Group PLC (RBS, RBS.LN) and Lloyds Banking Group PLC (LYG, LLOY.LN) should be a priority for the U.K. government, the International Monetary Fund is expected to say Wednesday, according to The Times newspaper in London.The recommendation will provide George Osborne, the chancellor of the exchequer, with a much-needed ally as he prepares ...
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Chevron Nears Sale of Egypt Pakistan Downstream Assets Sources- Reuters
Chevron Corp. (CVX) is in advanced talks to sell most of its downstream assets in Egypt and Pakistan in a sale that could be valued at around $300 million, the Reuters news agency said Tuesday on its website, citing three unnamed banking sources.The company is conducting separate sale processes for its assets in both countries, the sources said in the report."Chevron is currently conducting ...
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GLOBAL MARKETS-Asian stocks cheered by Fed reassurance yen awaits BOJ
Tue May 21, 2013 8:58pm EDT * Asian stocks open up, buoyed by record highs on Wall St * Fed officials play down speculation of ending stimulus anytime soon * BOJ policy decision closely watched amid bond market volatility By Ian Chua SYDNEY, May 22 (Reuters) - Asian stocks rose on Wednesday following a positive lead from Wall Street with Japan's Nikkei reaching a 5-1/2 year high, while the ...
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Competition transforming state’s gasoline industry
As a gasoline consumer of long standing, my knees jerked last week with the news that a major consolidation in the Southern California oil refining industry had sailed through reviews ...
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El Centro Border Patrol agent dies in Hawaii
Gungon died at Waimea Falls, on the island of Oahu, said Jessica Lani Rich, president of the Visitor Aloha Society of Hawaii, a nonprofit group that provides assistance to visitors in ...
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Fantastic Holdings issues earnings downgrade
AAP reports that the downgrade reflects the weak retail sector as well as the costs of "strategic initiatives" that the company has pursued. The group said in a statement to the Australian Securities Exchange that it expects to report a net profit after tax (NPAT) in the range of $13.5 million to $15.5 million, compared to FY2012 underlying earnings of $21 million. "The ...
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Your Smartphone Under Attack Pros
Apple CEO Tim Cook told Congress on Tuesday, smartphone growth around the world has spurred the growth of an app economy worth billions of dollars, created jobs and sparked innovation. But it has also been the catalyst for a new wave of cybercrime targeted at mobile devices. ...
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Chinas Bird Flu Outbreak Breaks Bank
The H7N9 virus appears to have been brought under control in China largely due to restrictions at bird markets, but caused some $6.5 billion in losses to the economy, U.N. experts said on Tuesday. Health authorities worldwide must be on the lookout to detect the virus, the experts said, which could still develop the ability to spread easily among humans and cause a deadly influenza pandemic. The ...
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Australian shares rise after Wall St hits new all-time highs
Tue May 21, 2013 8:20pm EDT (Updates with movements in early trade) SYDNEY May 20 (Reuters) - Australian shares rose 0.4 percent on Wednesday, led by blue-chip miners after comments from U.S. Federal Reserve officials eased some concerns that the central bank might scale back its stimulus programme, helping Wall Street close at all-time highs. Bellwether miners BHP Billiton Ltd and Rio Tinto Ltd ...
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Scandal or not one SAC investor cant get enough of Steve Cohen
Hedge fund manager Steven A. Cohen, founder and chairman of SAC Capital Advisors, responds to a question during a one-on-one interview session at the SkyBridge Alternatives (SALT) Conference in Las Vegas, Nevada in this May 11, 2011, file ...
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Mexican tycoon Slim seeks funding details of U.S. protest group
People protest holding masks printed with the face of Mexican telecommunications and retail tycoon Carlos Slim as he attends the Meeting of Latin American Businessmen at a hotel in Lima May 3, ...
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Denso executives to plead guilty to price fixing in Toyota case
6902.T ) have agreed to plead guilty to conspiring to fix prices of electronic auto parts sold to Toyota and will cooperate with an ongoing criminal investigation, the U.S. Justice Department said on ...
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U.S. prosecutors consider using racketeering law against SAC source
NEW YORK – U.S. prosecutors are considering charging Steven A. Cohen's SAC Capital Advisors as a criminal enterprise engaged in a long pattern of insider trading in stocks, according to a person familiar with the matter. Prosecutors may use the Racketeer Influenced and Corrupt Organizations Act, most commonly associated with prosecutions against the mafia, to move against Cohen's ...
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Italys RCS MediaGroup Asks Banks to Revise Terms of Refinancing Deal
RCS MediaGroup SpA (RCS.MI) said Tuesday it has asked the financial entities involved in a refinancing deal with the Italian publisher to revise some of the terms and conditions of the agreement following the recent improvement seen in financial markets.The company, which publishes one of Italy's most influential daily newspaper, Corriere della Sera, in mid-April approved the terms of a ...
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UK opposition party leader says Google tax behavior wrong
By Andrew OsbornLONDON (Reuters) - Google Inc's tax affairs will come under renewed scrutiny in Britain on Wednesday when the leader of the opposition Labor party accuses the Internet company of wrongly going to "extraordinary lengths" to avoid paying tax.In comments designed to politically outflank Prime Minister David Cameron ahead of next month's G8 summit on what has ...
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New Xbox faces wider range of competition
Microsoft sees the Xbox One as an all-in-one gaming and entertainment system. It’s set to go on sale in time for the holidays Microsoft ...
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Qualcomm and USAID expand collaboration
A police officer in El Salvador, where Qualcomm and the U.S. Agency for International Development have collaborated on a crime-reduction project, equipping agencies with smart phones that have a special app that connects them to a ...
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Microsoft touts Xbox One as all-in-one entertainment
(Editor's note: I am, at best, confused by a lot of the decisions Microsoft has made with the Xbox One. No backwards compatibility? Fees to share games and play used games? We're talking about paywalls here. And the whole thing has shifted -- or seems to have shifted -- away from gaming and onto Television. That is pretty stupid, if true. -- William ...
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RBS and Lloyds stakes should be sold says IMF
Britain will be advised to sell off the state's holdings in the Royal Bank of Scotland and Lloyds Bank by the International Monetary Fund (IMF) in a move that will embolden George Osborne as he attempts to justify his economic ...
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