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Appeals court directs Ex-Im Bank to explain rationale for loan guarantee to Air India

Tue, 18 Jun 2013 17:24:35 -0400

WASHINGTON - A U.S. appeals court has upheld a decision by the U.S. Export-Import Bank to finance the sale of 30 Boeing wide-body jets to Indian state-owned carrier Air India in a legal challenge brought by Delta Air Lines to the loan guarantee. The court has however directed the government-run bank to better explain its rationale for providing loan guarantee, which Delta claimed as a victory ...

Google renews efforts wipe out child porn images from internet

Tue, 18 Jun 2013 17:23:53 -0400

LONDON - Internet giant Google said it is spending $5 million to wipe images of child abuse off the Internet and another $2 million to create tools to find the images and eradicate them. "We're in the business of making information widely available, but there's certain 'information' that should never be created or found," wrote Jacqueline Fuller, director of Google Giving, in a blog post. "We ...

GSK negotiating sale of thrombosis drug and plant to Aspen

Tue, 18 Jun 2013 17:20:31 -0400

DURBAN / LONDON - South Africa's biggest generic drug maker Aspen Pharmacare and its subsidiary Aspen Global Incorporated have made an offer to acquire thrombosis drugs and their associated manufacturing site at Notre Dame de Bondeville, France, from GlaxoSmithKline (GSK). "AGI will acquire from GSK the Arixtra and Fraxiparine/Fraxodi brands and business worldwide, except in China, Pakistan ...

Carbon trading to begin in Shenzhen in bid to cut emission

Tue, 18 Jun 2013 17:12:35 -0400

BEIJING - China, the world's biggest carbon emitter, is set to launch Tuesday its first carbon trading scheme as a pilot project in the southern city of Shenzhen as part of efforts to cut emissions in its key cities. Carbon emissions trading schemes are meant to encourage companies to reduce their carbon dioxide emissions by setting a limit or a cap, on the level of emission that can be ...

Rise in transportation costs push up UK inflation to 2.7pc

Tue, 18 Jun 2013 17:12:21 -0400

LONDON - The consumer price index (CPI) inflation increased to 2.7% in May, up from 2.4% in April, mainly due to higher fuel costs pushing up transportation costs particularly airfares, the Office for National Statistics (ONS) said Tuesday. The ONS said the rise was due to a record increase in airfares and higher fuel prices. "The inflation rate has returned to the levels seen between ...

Yahoo follows Facebook and Microsoft in publishing US govt sought snoop data

Wed, 19 Jun 2013 02:40:03 -0400

Internet corporation Yahoo has followed the league of technological companies in publishing reports about 'snoop data' requests made by the US government. According to the Guardian, Yahoo has revealed that it had received 12,000-13,000 requests, inclusive of criminal, Foreign Intelligence Surveillance Act (FISA), and other requests by the government between 1 December 2012 and 31 May 2013. ...

I like the way you look and Ive been fired. George Zimmer out at Mens Wearhouse

Wed, 19 Jun 2013 11:13:07 -0400

Men's Wearhouse Inc. has dismissed its founder and executive chairman George Zimmer.In a terse release issued Wednesday, the company didn't give a reason for the abrupt firing of Zimmer, who built Men's Wearhouse from one small Texas store using a cigar box as a cash register to one of the nation's largest specialty retailers in men's clothing, with 1,143 locations.In ...

Financial Stocks Financial stocks retreat ahead of Fed decision

Wed, 19 Jun 2013 11:11:41 -0400

"It's just some last-minute nervousness about exactly what the Fed statement will say and what Bernanke might say at his press conference this afternoon," said David Hilder, analyst at Drexel ...

Tech Stocks Adobe rises but Apple Microsoft slip

Wed, 19 Jun 2013 11:11:39 -0400

SAN FRANCISCO (MarketWatch) -- Shares of Adobe Systems Inc. jumped Wednesday, but the tech sector was weighed down by sliding shares of Apple Inc. and Microsoft ...

Movers Shakers Wednesday’s movers Sprint down as Dish drags feet

Wed, 19 Jun 2013 11:11:38 -0400

SAN FRANCISCO (MarketWatch) -- Sprint Nextel Corp. fell on Wednesday after Dish Network Corp. opted not to raise its competing offer for the wireless carrier, all but effectively yielding the field to Japan's SoftBank ...

US stocks edge lower

Wed, 19 Jun 2013 11:09:47 -0400

New York - US stocks are edging lower in early trading on Wall Street as investors hold back ahead of a policy announcement from the Federal ...

Delays and high prices leave rail passengers dissatisfied

Wed, 19 Jun 2013 11:08:18 -0400

Passenger satisfaction on the railways is dipping, with value for money and how companies deal with delays being the biggest cause for complaint, according to a survey of thousands of train customers.Just one train company, Great Anglia, improved its overall satisfaction levels between spring 2012 and spring 2013, the poll by rail customer watchdog Passenger Focus found.Nationally, the percentage ...

Bernanke Ultimate Lame Duck Langone

Wed, 19 Jun 2013 11:05:27 -0400

Whatever Federal Reserve Chairman Ben Bernanke says now is temporary because it looks like he'll be leaving his post, billionaire investor Kenneth Langone told CNBC on Wednesday. In an interview with Charlie Rose that aired Monday, President Barack Obama hinted that Bernanke may be on his way out. ...

Ask Bernanke What Question Would You Pose

Wed, 19 Jun 2013 11:05:27 -0400

So here's the picture: You're sitting in the psychiatrist's chair, legs crossed and notebook ready. Across from you is Ben Bernanke, the chairman of ...

Who Will Replace Bernanke Naming Names

Wed, 19 Jun 2013 11:05:26 -0400

Adam Posen, president of the Peterson Institute for International Economics, highlights that while Janet Yellen is a strong candidate to succeed Bernanke, there are a number of other people who could do the ...

CBO Immigration Plan Would Cut Deficit

Wed, 19 Jun 2013 11:05:25 -0400

Members of United We Dream, an immigrant youth-led organization, wearing caps and gowns hold their fists in the air on the steps of the Senate to call for immigration ...

Stocks open flat traders wait on Feds policy statement

Wed, 19 Jun 2013 10:59:24 -0400

1 hour ago Stocks opened flat on Wednesday, with global markets trading cautiously, as investors hesitated to jump in ahead of the Federal Reserve's all-important policy statement and Chairman Ben Bernanke's press briefing later in the day. ...

Microsoft Qualcomm to team up on next round of Surface RTs -- report

Wed, 19 Jun 2013 10:55:11 -0400

(Credit: CNET) Microsoft and Qualcomm will work together on the next generation of Surface RT devices, a new report claims. Microsoft will use Qualcomm's Snapdragon processor in some versions of its Surface ...

Mens Wearhouse terminates founder Zimmer as executive chairman

Wed, 19 Jun 2013 10:52:23 -0400

MW.N ) ousted Executive Chairman George Zimmer, who founded the company 40 years ago, sending its shares down as much as 6 percent in early ...

Analysis Half-way to lost decade Europes growth task as tough as ever

Wed, 19 Jun 2013 10:52:10 -0400

LONDON (Reuters) - Half-way towards a lost decade for Europe's economy, pessimism persists about the political will to halt a worrying slide in the region's potential ...

Britain says reckless bankers could face jail

Wed, 19 Jun 2013 10:52:10 -0400

LONDON (Reuters) - Bankers who are reckless with customers' or taxpayers' money could face criminal charges and have bonuses and pensions clawed back, according to proposals backed by Britain's prime minister on ...

Market Snapshot U.S. stocks steady Wall Street waits for Fed

Wed, 19 Jun 2013 10:50:05 -0400

NEW YORK (MarketWatch) -- U.S. stocks traded little changed on Wednesday after a two-day rally, with investors on uncertain footing ahead of the Federal Reserve's policy decision later in the ...

MTU Aero sees at least $1.1 billion of orders at show

Wed, 19 Jun 2013 10:49:08 -0400

German aircraft engine maker MTU Aero Engines said its order intake at this year's Paris Airshow will reach at least $1.1 billion thanks to demand for Pratt & Whitney's geared turbofan model. The figure, which includes options, is well above the 600 million euros ($804 million) booked at the 2011 Paris Airshow but still short of the record 1.3 billion of orders netted at last ...

Think Twice Before Concluding ETNs are Safe

Wed, 19 Jun 2013 10:49:06 -0400

It's already been five years since the credit crisis turned the world of finance upside down. Are credit backed exchange-traded notes (ETNs) now safe? Let's examine some of the basics about these types of financial ...

Stocks Waver All Eyes on the Fed

Wed, 19 Jun 2013 10:49:05 -0400

FOX Business: Capitalism Lives Here The markets hovered about a tight range Wednesday as traders braced for the Federal Reserve's policy decision later in the day. Today's Markets As of 10:32 a.m. ET, the Dow Jones Industrial Average fell 10.9 points, or 0.07%, to 15307, the S&P 500 dipped 1.1 points, or 0.06%, to 1651 and the Nasdaq Composite rose 0.8 point, or 0.03%, to 3483. ...

North America capable of making ‘OPEC NOPEC’

Wed, 19 Jun 2013 10:47:34 -0400

"We haven't really had the time to get the infrastructure going to catch up with the vast increase in domestic production," Drevna said in an interview. "We have to educate the folks to say, 'Look, we could be that swing producer.' We have the capability here in the United States, in North America, to make OPEC NOPEC." Since 2007, oil imports have fallen, with ...

Valeant follows path set by Agrium by issuing common shares to finance a U.S. takeover

Wed, 19 Jun 2013 10:47:33 -0400

After the markets closed Tuesda, Valeant priced its US$2 offering of common shares: investors, most of whom came from outside Canada, were asked to pay US$85 for each of the 23.5 million shares that were on offer. At that price the shares were priced at a very slight premium to the close on May 24 (US$84.47), the last trading day before the news was announced. The shares -- Valeant is listed on ...

I Guarantee It Mens Wearhouse Ousts Founder

Wed, 19 Jun 2013 10:45:04 -0400

Men's Wearhouse Inc. has dismissed its founder and executive chairman George Zimmer. In a terse release issued Wednesday, the company didn't give a reason for the abrupt firing of Zimmer, who built Men's Wearhouse from one small Texas store using a cigar box as a cash register to one of the nation's largest specialty retailers in men's clothing, with 1,143 locations. ...

Wall Street dips after recent rally as Fed statement looms

Wed, 19 Jun 2013 10:44:47 -0400

Federal Reserve statement and news conference. The Fed will release a policy statement at 2:00 p.m. EDT (1800 GMT), which will be followed soon after by a news briefing with Chairman Ben Bernanke. "The early morning action is not surprising given the fact that we've had two days of position jockeying ahead of the (Fed)announcement," ...

US stocks mostly lower ahead of Fed news

Wed, 19 Jun 2013 10:19:21 -0400

US stocks have opened mostly lower as investors await the latest policy announcement from the US Federal Reserve later on Wednesday. Five minutes into trade, the Dow Jones Industrial Average dipped 20.53 (0.13 per cent) to 15,297.70. The broad-based S&P 500 slipped 2.06 (0.12 per cent) to 1,649.75, while the tech-rich Nasdaq Composite Index was up a scant 0.32 (0.01 per cent) at ...

FedEx Delivers Strong Q4 Earnings Tops Expectations

Wed, 19 Jun 2013 10:04:15 -0400

business helped offset restructuring costs. Revenues matched Wall Street forecasts. FedEx also issued initial earnings growth guidance for the full-year 2013.The performance of package shipping bellwethers like FedEx and its rival United Parcel Service, Inc. ...

Coca-Cola announces organizational changes

Wed, 19 Jun 2013 10:01:46 -0400

New Delhi, June 19 : Beverage major The Coca-Cola Company on Wednesday announced key organizational changes in the Pacific Group. These changes are effective July ...

Futures Movers Oil edges up before inventory data Fed news

Wed, 19 Jun 2013 10:00:38 -0400

NEW YORK (MarketWatch) -- Crude-oil futures were slightly higher Wednesday before a much-awaited Federal Reserve decision and weekly supply data from the ...

Plans for new food labelling system to combat UK obesity are dealt a blow as Cadbury and Coca-Cola reject traffic light plan

Wed, 19 Jun 2013 09:58:17 -0400

Plans to tackle UK obesity by introducing a standardised traffic-light food labelling system have been dealt a blow after Cadbury and Coca-Cola failed to sign up to the ...

BSkyB investigated over BT claim it is withholding Sky Sports package

Wed, 19 Jun 2013 09:57:42 -0400

BT has complained that BSkyB is withholding its Sky Sports package, which includes live Premier League games. Photograph: Olly Greenwood/AFP/Getty ...

BAE Systems rises nearly 2 despite denial of new EADS tie-up

Wed, 19 Jun 2013 09:57:41 -0400

is climbing higher on optimism at the Paris air show and talk of a renewed tie-up with EADS.The latter was soon shot down by an EADS spokesman. According to Reuters, Rainer Ohler ...

Royal Mail staff vote against privatisation

Wed, 19 Jun 2013 09:57:40 -0400

The ballot, in which staff also voted nine-to-one in favour of a boycott of delivering competitors' mail, is likely to lead to a vote on strike action. Photograph: Christopher ...

Deferring bank bonuses for 10 years sounds extreme – its not | Nils Pratley

Wed, 19 Jun 2013 09:57:39 -0400

HSBC's sub-prime punt seemed okay for the first five years - and the disgraceful money-laundering episode which started in 2004 wasn't made public until ...

Reckless misconduct proposals will be in banking reform bill says PM

Wed, 19 Jun 2013 09:57:38 -0400

The government will amend a parliamentary bill to introduce the central recommendation of the banking commission to allow bankers to be jailed for reckless ...

Mens Wearhouse Needs New Chairman

Wed, 19 Jun 2013 09:54:47 -0400

Men's Wearhouse said it fired Executive Chairman George Zimmer, who founded the company more than 40 years ago, sending the company's shares down 7 percent before the bell.The company, which gave no reason for the termination, also said it had postponed its annual shareholder meeting to renominate the existing slate of directors without Zimmer."The board expects to discuss with Mr. ...

Get Ready for 3 Treasury Yields

Wed, 19 Jun 2013 09:54:45 -0400

Yields on 10-year Treasurys have lurched 50 basis points upwards since May on fears the Federal Reserve may start scaling back its asset purchasing program, and some economists now forecast yields could reach 3 percent by year-end. "We expect the 10-year Treasury yield to rise close to 3 percent by the end of the year," James Paulsen of Wells Capital Management said in a research note ...

OUYA Disrupts Video Game Industry

Wed, 19 Jun 2013 09:48:58 -0400

Julie Uhrman, OUYA founder & CEO, explains how her $99 gaming console could give PlayStation and Xbox a run for their money by allowing developers to publish game apps to the ...

Cramers Stocks to Watch FedEx

Wed, 19 Jun 2013 09:48:54 -0400

Don't start your trading day without finding out what CNBC's Jim Cramer is watching ahead of the opening bell. Today Cramer explains why he thinks FedEx is a "terrific company" after reporting its quarterly ...

Rossen reports Retailers mislead with ‘sales’

Wed, 19 Jun 2013 09:48:51 -0400

When you see a sign reading 20-, 30-, or 40-percent off you assume you're getting a deal. But sale prices advertised by major retailers may not be deals at all, and customers are fighting back. NBC's Jeff Rossen ...

FedEx shares dip on growth concerns

Wed, 19 Jun 2013 09:42:05 -0400

Handlers scan and affix a courier route label onto packages moving down the belt at the Marina Del Rey, California FedEx station December 12, ...

EADS says window closed for new BAE merger attempt

Wed, 19 Jun 2013 09:41:53 -0400

At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...

Lockheed Mitsubushi Heavy sign deal for F-35 assembly

Wed, 19 Jun 2013 09:41:52 -0400

Workers can be seen on the moving line and forward fuselage assembly areas for the F-35 Joint Strike Fighter at Lockheed Martin Corp's factory located in Fort Worth, Texas in this October 13, 2011 handout photo provided by Lockheed ...

Mark Hulbert A contrarian take on earnings misses

Wed, 19 Jun 2013 09:39:43 -0400

This is true anytime, but it's worth remembering right now because companies are falling over themselves reducing their earnings guidance for the current quarter -- the one that will be over in just a couple of weeks. In ...

Wall Street Eyes the Fed Futures Wobble

Wed, 19 Jun 2013 09:38:47 -0400

FOX Business: Capitalism Lives Here All eyes were on the Federal Reserve Wednesday as traders waited for any clues about when the central bank will begin trimming back on its bond purchases. Today's Markets As of 8:13 a.m. ET, Dow Jones Industrial Average futures fell 7 points to 15235, S&P 500 futures dipped 1.5 points to 1643 and Nasdaq 100 futures rose 2.3 points to 2991. The big ...

Kodak Preps $406M Offering as it Eyes Bankruptcy Exit

Wed, 19 Jun 2013 09:38:46 -0400

Eastman Kodak Co on Tuesday said it will seek court approval for a $406 million rights offering that could give creditors a big equity stake in the company after it emerges from Chapter 11 bankruptcy protection. Kodak said creditors agreed to backstop an offering that would let the Rochester, New York-based company issue 34 million common shares at $11.94 each, equal to about 85 percent of the ...

Orders top $100 billion as Ryanair gives Boeing a boost

Wed, 19 Jun 2013 09:37:58 -0400

1 of 6. President and CEO of Boeing Commercial Airplanes Ray Conner (R) and Ryanair Chief Executive Michael O'Leary share a light hearted moment as they pose during a signing ceremony at the 50th Paris Air Show, at the Le Bourget airport near Paris, June 19, ...

Imperial Oil to close N.S. refinery after failing to find buyer

Wed, 19 Jun 2013 09:37:20 -0400

CALGARY - Imperial Oil Ltd. says it will convert its refinery in Dartmouth, Nova Scotia to a terminal facility after it was unable to attract a buyer for the plant. "The results of the marketing effort illustrate the challenges of operating a refinery of Dartmouth's scale in the competitive conditions of the Atlantic Basin market," Imperial chairman and chief executive Rich Kruger ...

6.19.13 Where do you invest when the Fed begins tapering

Wed, 19 Jun 2013 09:37:19 -0400

. Will the Fed begin tapering its $85 billion-a-month in bond purchases within "the next few meetings," as Bernanke suggested during his remarks to Congress? Or does the job market remain too weak for the Fed to slow its stimulus, as Bernanke said at another point?The Fed's bond purchases have been intended to hold down long-term loan rates to induce Americans to borrow and spend ...

Money pours into high-yield debt markets in early 2013

Wed, 19 Jun 2013 09:37:18 -0400

As equity markets remain relatively weak, Canadians are pouring investing dollars into high-yield products, sending debt marketssoaring. During the first four months of 2013, $10.76-billion in equity capital was raised on the S&P/TSX, down from $17.25-billion during the same period in 2012, according to a mid-year capital report issued by law firm Torys LLP. The real estate sector, namely ...

Statoil discovers oil off the coast of Newfoundland

Wed, 19 Jun 2013 09:37:17 -0400

ST. JOHN'S, N.L. -- Statoil is evaluating a new discovery of high-quality oil off the coast of Newfoundland, about 500 kilometres northeast of St. John's, N.L., the Norwegian oil giant announced Wednesday. A Statoil spokesman says the latest oil discovery is very encouraging and contributes to its understanding of the area within the Flemish Pass Basin, where the company and its ...

Ottawa ups liability for offshore oil spills in Arctic Atlantic waters to $1-billion

Wed, 19 Jun 2013 09:37:16 -0400

CALGARY o Ottawa is boosting the liability cap on oil companies with plans to drill in Atlantic and Arctic waters as it looks to rekindle interest in Canada's offshore. In changes announced Tuesday, Natural Resources Minister Joe Oliver said companies operating in the Atlantic would be on the hook for a maximum of $1-billion in the event of a spill, up from $30-million previously. Arctic ...

Indiegogo mulls equity crowdfunding but only if rules won’t ‘stifle innovation’

Wed, 19 Jun 2013 09:37:16 -0400

As Canadian entrepreneurs wait for regulations in the works that could allow them to use crowdfunding to seek equity investment from the general public, one of the most popular platforms available in Canada says it may opt out of equity crowdfunding if the new rules are too ...

Service helps you use Twitter to find a job

Wed, 19 Jun 2013 09:36:08 -0400

Twitter can help you land a job by letting you connect with people and stay abreast of what's happening in your industry. But what if the microblogging service just isn't your ...

Protect yourself from serious medical conditions

Wed, 19 Jun 2013 09:36:08 -0400

recent brush with death and her encounter with our medical system confirmed insights that we've gained regarding how to protect yourself from potentially ruinous medical expenses. While my posts typically use analysis for my conclusions, in this case it's my wife's personal experience that provides support for my recommendations. While I normally write about retirement planning ...

Chrysler caves agrees to recall Jeeps

Wed, 19 Jun 2013 09:36:02 -0400

(MoneyWatch) Update, 4:36 p.m.: Chrysler reversed field today and said it would comply with federal safety officials' request to recall older Jeep SUVs to check for possible fire hazards., The National Highway Traffic Safety Administration says that gas tank placement on the Jeep Grand Cherokees and Jeep Liberty model SUVs is at fault in 51 fatalities.Chrysler had previously argued tha most ...

Royal Baby a $400 Million Bonanza

Wed, 19 Jun 2013 09:35:01 -0400

the royal baby , that's just the beginning. Beyond that, as he or she coos and wiggles, lies a cornucopia of delight: bespoke teddy bears, the imperial rattle, a Spode sippy cup, and wee slippers emblazoned with the Union Jack. Asks the world looking on: Why can't my own darling have those slippers? Well, now he ...

6 Ways to Save Money This Month

Wed, 19 Jun 2013 09:35:00 -0400

We all want to save more money. After all, none of us like the feeling of looking at our bank account (or under our mattress) and realizing that we have no money left and our next paycheck is still a week away. By saving a few dollars here and there, we can get some breathing room in our monthly budgets and hopefully start saving up for future expenses, as well. This article is for anyone ...

US STOCKS SNAPSHOT-Wall Street opens flat ahead of Fed

Wed, 19 Jun 2013 09:32:41 -0400

NEW YORK, June 19 | Wed Jun 19, 2013 9:32am EDT NEW YORK, June 19 (Reuters) - U.S. stocks opened little changed on Wednesday, holding much of the gains made over the last two days, ahead of a highly anticipated Federal Reserve statement and news conference. The Dow Jones industrial average dropped 11.34 points, or 0.07 percent, to 15,306.89. The Standard & Poor's 500 Index shed 0.68 ...

American Rights At Work Formal Complaint for FEC Investigation of Wal-Marts Unlawful Federal Election Activity

Wed, 19 Jun 2013 09:27:13 -0400

Formal Complaint for FEC Investigation of Wal-Mart's Unlawful Federal Election Activity WASHINGTON - August 14 - Today American Rights at Work, the AFL-CIO, Change to Win, and WakeUpWalmart.com will hand ...

India Resource Center Coca-Cola Plant Shut Down in India

Wed, 19 Jun 2013 09:27:13 -0400

Chinta Dewi, Coca-Cola Bhagao, Krishi Bachao Sangharsh Samiti +91 94507 79325 (Hindi) Nandlal Master, Lok Samiti +91 94153 00520 (Hindi) Amit Srivastava, India Resource Center +91 98103 46161 (India) +1 415 336 7584 ...

WakeUpWalmart.com Files Official Complaint Against Wal-Mart With The FEC and Calls For An Investigation

Wed, 19 Jun 2013 09:27:12 -0400

WakeUpWalmart.com Files Official Complaint Against Wal-Mart With The FEC and Calls For An Investigation WASHINGTON - August 14 - WakeUpWalMart.com today, along with American Rights at Work, Change to Win, and the American Federation of Labor and Congress of Industrial Organizations, jointly filed an official complaint with the Federal Election Commission. The groups filed the complaint of ...

US STOCKS-Wall St to open little changed as Fed statement looms

Wed, 19 Jun 2013 08:59:05 -0400

Wed Jun 19, 2013 8:59am EDT * Fed statement, news conference in focus * Adobe shares up, FedEx down after results * Futures: Dow off 6 pts, S&P flat, Nasdaq up 4 pts By Rodrigo Campos NEW YORK, June 19 (Reuters) - U.S. stocks were set to open little changed on Wednesday, holding on to gains over the last two days, ahead of a highly anticipated Federal Reserve statement and news conference. The ...

Earnings Watch Updates advisories and surprises

Wed, 19 Jun 2013 08:51:22 -0400

+1.09% reported its fourth-quarter profit fell to $303 million, or 95 cents a share, from $550 million, or $1.73 a share, a year earlier. Earnings adjusted for business realignment and an aircraft impairment charge were $679 million, or $2.13 a share, compared with $634 million, or $1.99 a share in 2013. Revenue rose to $11.4 billion, from $11 billion a year earlier, the shipping company said ...

G8s tough talk on tax avoidance must not ring hollow | Kevin Watkins

Wed, 19 Jun 2013 08:47:38 -0400

G8 leaders and EU delegates at the summit in Lough Erne, Northern Ireland, which has produced a communique on tax evasion. Photograph: Matt Cardy/Getty ...

Diet Coke man Andrew Cooper on the return of the iconic TV advert - Cannes Lions 2013 video

Wed, 19 Jun 2013 08:47:36 -0400

Cannes Lions International Festival of Creativity to discuss the enduring appeal of the ad's concept on the 30th anniversary of the product's launch. Matthew Charlton of BETC London who produced the ad, says the video is already a social media ...

BT chief executive exits to become trade minister

Wed, 19 Jun 2013 08:47:35 -0400

Lord Green , who has served as a minister since early 2011 and is approaching retirement.The son of a Glasgow GP, Livingston's talent was spotted early by the Dixons chairman Sir Stanley Kalms, who made Livingston the youngest FTSE 100 finance director at the age of 32. He joined BT in the same role, before becoming chief executive in June 2008 at the age of 43.Having transformed the former ...

FedEx Sends Wall Street A Surprise $679M Q4 Profit Beats Expectations

Wed, 19 Jun 2013 08:45:58 -0400

(Photo credit: erikleenaars) FedEx made a surprise delivery today, reporting quarterly figures that easily beat expectations. The company earned $303 million, 95 cents a shares, in its fiscal fourth quarter, compared to $550 million, $1.73 a share, a year earlier. Excluding one-time items, FedEx made $679 million, $2.13 a share. That's considerably more than analysts' projection for ...

FedEx Earnings Blow Past Estimates

Wed, 19 Jun 2013 08:43:50 -0400

FedEx posted a bigger than expected quarterly profit as its ground shipment business did well, and the company saw benefits from lower jet fuel prices.FedEx, considered an economic bellwether because of the massive volume of goods it moves across the world, had net income of $303 million, or 95 cents a share for its fourth quarter ended May 31, compared with $550 million or $1.73 a share a year ...

Money for a Squirrel Census Nuts

Wed, 19 Jun 2013 08:43:49 -0400

GoFundMe have become the go-to resource for projects as diverse as starting a business, turning an invention into reality or funding a personal goal or need.Talked-about tech--including the Pebble smartwatch and the vibrating HAPIfork--got a start on crowdfunding sites, and after the Boston Marathon bombings, friends and family of victims used such sites to raise money to help with medical bills. ...

QE Infinity Now 6 Months Economists

Wed, 19 Jun 2013 08:43:48 -0400

Why Fed Taper Means Tighten in Markets ) "The shift in QE forever to QE for a finite period of time is the thing" the markets are focusing on, agreed Jeff Knight, head of global asset allocation at Columbia Management with $58 billion under management. "Primarily the quantitative easing has had [more of] a financial market impact than a real economy impact." Silvia said the ...

Working from home Boss may still be peeking over your shoulder

Wed, 19 Jun 2013 08:38:36 -0400

bout 13.4 million people, or about 9.5 percent of workers, were working home at least some of the time in 2010. That's up from about 9.2 million workers in 1997. Even if you are thousands of miles away from the office and wearing your pajamas, your boss could still be watching you just as closely as if you were sitting in the next cubicle over.Some companies are monitoring employees' ...

Twist-off wine cork may make corkscrews obsolete

Wed, 19 Jun 2013 08:38:35 -0400

research project developed this, a twist off wind cork that could make corkscrews obsolete. it's easy to use. developers hope it's something that wineries might start using soon. i don't know, what do you guys think of ...

Tesla recalls some Model S vehicles due to seat-mount defect

Wed, 19 Jun 2013 08:32:06 -0400

Tesla Motors CEO Elon Musk speaks next to the company's newest Model S during the Model S Beta Event held at the Tesla factory in Fremont, California October 1, ...

FedEx posts higher than expected profit

Wed, 19 Jun 2013 08:32:06 -0400

Handlers scan and affix a courier route label onto packages moving down the belt at the Marina Del Rey, California FedEx station December 12, ...

Bank of England still divided flags market impact of Fed uncertainty

Wed, 19 Jun 2013 08:32:05 -0400

LONDON (Reuters) - Bank of England policymakers acknowledged earlier this month that further market volatility could be on the way because of uncertainty about the direction of U.S. monetary policy, but came no closer to shifting their own ...

Commerzbank to cut around 3000 jobs by 2016 trade union

Wed, 19 Jun 2013 08:32:05 -0400

The trade union was negotiating job cuts in Germany. The 3,000 cuts do not include staff reductions at Hypothekenbank Frankfurt, a unit formerly known as ...

Mortgage Applications Skid as Interest Rates Jump

Wed, 19 Jun 2013 08:29:37 -0400

Interest rates on home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on Wednesday. Rates climbed 2 basis points to average 4.17 in the week ended June 14, according to the Mortgage Bankers Association. It was the highest level since March of last year. After hovering around record lows, rates have ...

European Markets Steady Ahead of Fed

Wed, 19 Jun 2013 08:29:37 -0400

European shares were up by mid-session on Wednesday in light and volatile trade as investors looked to the U.S. Federal Reserve for clues on the duration of its equity-friendly stimulus programme. The possibility the Fed could scale back its bond purchases has spooked global equity markets in recent weeks and, as news of such a move was not expected from the meeting which ends late on Wednesday, ...

Softbank Inches Closer to Acquiring Sprint

Wed, 19 Jun 2013 08:29:36 -0400

TOKYO/NEW YORK – Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week. SoftBank Chief Executive Masayoshi Son is now a step closer to sealing the largest overseas acquisition by a Japanese company in history, after ...

Fed Looms Large But No Action Expected

Wed, 19 Jun 2013 08:29:34 -0400

WASHINGTON – Federal Reserve policymakers will likely announce on Wednesday that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open to scale back the program later this year if the U.S. labor market continues to improve. Economic data since the 19 officials met in May has been mixed. Employment growth was steady and consumers kept spending ...

World Bank watching Fed ready to respond

Wed, 19 Jun 2013 08:28:41 -0400

LONDON (Reuters) - The World Bank is concerned about the spillover effects on developing countries of a slowing of U.S. money creation and will move to provide affordable capital when borrowing costs rise, its president said on ...

More gold investors think cost inflation has peaked

Wed, 19 Jun 2013 08:28:01 -0400

Investors are growing more bearish on the prospects for gold, as a recent survey by J.P. Morgan points out that only 44% of respondents now think bullion will move higher in the next 12 months. While that marks a sharp decline from 71% last year, investors are still bullish for the long term, with 60% of them anticipating gold will rise in the next three years. Analyst John Bridges pointed out ...

Your preview to the most anticipated Fed announcement in a long time

Wed, 19 Jun 2013 08:28:00 -0400

The whole world has been anxiously waiting for this moment. The Federal Reserve will wrap up its 2-day Federal Open Market Committee (FOMC) meeting on Wednesday. At 2:00 PM ET, it will publish its FOMC statement as well as an update to its economic forecasts. Then at 2:30 PM ET, Fed Chairman Ben Bernanke will hold a press conference, which will include a Q&A with economics ...

New Bank of Canada chief expected to signal low rate to stay in public debut

Wed, 19 Jun 2013 08:28:00 -0400

Bank of Canada Governor Stephen Poloz will probably use his first public speech since taking office Wednesday to stress that rebuilding business investment is a key challenge, suggesting he won't tighten monetary policy ...

Housing crash wouldn’t hurt Canadian banks at first

Wed, 19 Jun 2013 08:27:59 -0400

Canadian banks are well positioned to absorb credit losses arising from a housing downturn in the country, say analysts, but a collapse could have knock-on effects that will dampen future earnings growth and potentially have negative long-term implications for "Big 6" investors. "While a ‘hard’ landing for domestic housing, including a sustained decline in selling ...

Avoid social media slipups the Dunkin Donuts way

Wed, 19 Jun 2013 08:26:48 -0400

(MoneyWatch) It's increasingly common to see businesses suffer at the hands of some social media faux pas. It can come in many forms, from having ...

How to find hidden gems in real estate

Wed, 19 Jun 2013 08:26:48 -0400

(MoneyWatch) The watchword in the real estate world comes in triplicate: location, location, location. That adage can really work against you as a home buyer, particularly in today's seller's market. Homes in the most desirable locations in any city are snapped up within days of going on the market -- and at increasingly high prices. "We're already seeing multiple offers ...

Halfway through the year halfway to success

Wed, 19 Jun 2013 08:26:47 -0400

(MoneyWatch) Christmas seems is a time from now, but the end of June brings us halfway through the year. It's a good time to take stock of where you stand on your annual goals -- those things you'd like to say in a year-end performance review you'd give yourself. Are you on track? Reviewing my own list, I find I'm doing well on some things. I finished a draft of a novel. ...

Look who doesnt deserve financial aid at NYU

Wed, 19 Jun 2013 08:26:46 -0400

Commentary:(MoneyWatch) Last summer I met a woman who decided, along with her husband, to sell their home so that her daughter could attend New York University. The family concluded that this enormous sacrifice was worth it so her daughter could major in theater at a school near Broadway. I was stunned when I heard the woman confess to giving up the family home so they could afford to send their ...

Microsoft slashes Surface prices to lure buyers

Wed, 19 Jun 2013 08:26:46 -0400

MSFT ) has seen a run of poor financial results in recent years as a result of bad management choices. That seems to include the company's answer to the iPad, the Surface, which already seems to be sinking in popularity -- so much so ...

Olympian Lolo Jones Paycheck Flap

Wed, 19 Jun 2013 08:25:45 -0400

(Image credit: Jeff Kravitz/FilmMagic/Getty Images) American Olympic hurdler Lolo Jones said she wanted to show how hard bobsled athletes work when she posted a six-second clip about her paycheck on social video sharing site Vine. In the video, Jones, 30, shows her paycheck of $741.84 from her season with the USA Bobsled and Skeleton Federation, dated June 10. She says in ...

Big Boost for GM and Ford in China

Wed, 19 Jun 2013 08:25:45 -0400

Morning Business Memo … Both Ford and General Motors are revving up production in China – now the world’s largest car market. GM has started work on a new Cadillac factory as it targets China’s lucrative luxury segment. The carmaker says it hopes to triple Cadillac sales to 100,000 units by 2015. It also wants to quadruple its share of China’s luxury car market to ...

Microsoft office goes cloud to join cloud war with Google Docs

Wed, 19 Jun 2013 08:14:07 -0400

The war on cloud intensified as Microsoft Office announced its decision on Tuesday to go cloud in an attempt to compete with its immediate but not last competitor, Google Docs.Microsoft holds a virtual monopoly on office productivity software. Most computer users in the world use the Office software for word processing, spreadsheet, presentation and other purposes. However, Microsoft Office faces ...

Air France-KLM orders 25 wide-body Airbus A350s

Wed, 19 Jun 2013 07:49:32 -0400

Visitors walk among planes displayed at the 50th Paris Air Show at Le Bourget airport, north of Paris, Wednesday June 19, 2013. Visible at foreground is a Bombardier Global 6000 jet.(AP Photo/Remy de la ...

Markets steady as investors ready for Fed

Wed, 19 Jun 2013 07:49:30 -0400

The central bank wraps up a two-day policy meeting later Wednesday and investors are looking to see if policymakers are moving towards any change in its monetary policy stance. The Fed's strategy of super-low interest rates and easy money over the past few years has been designed to shore up the U.S. economy. It has also helped drive sentiment in the ...

Atul Singh Coca-Colas new deputy president Pacific Group

Wed, 19 Jun 2013 07:46:24 -0400

New Delhi, June 19 : Atul Singh, Coca-Cola's president and CEO (India and Southwest Asia), will take over as deputy president (Pacific Group) from July 1, the company said ...

Supreme court quashes Iran bank sanctions and criticises secret hearings

Wed, 19 Jun 2013 07:42:09 -0400

Supreme court president, Lord Neuberger, said: 'Having held a closed hearing, it turned out that there had been no point in the supreme court seeing the closed judgment.' Photograph: David Levene for the ...

Ed Balls calls for reform to curb bankers recklessness – video

Wed, 19 Jun 2013 07:42:09 -0400

The shadow chancellor, Ed Balls, says a report on banking standards shows the sector needs to change to dissuade bankers from 'reckless misconduct'. The report by the parliamentary commission on banking standards, suggests a new law to jail careless bankers and a 10-year delay on receiving ...

James Daviess top 10 psychiatry critiques

Wed, 19 Jun 2013 07:42:08 -0400

Cracked: Why Psychiatry Is Doing More Harm Than Good because of the huge gulf between what most people believe about psychiatric diagnoses and medications and what the evidence actually ...

AstraZeneca suffers diabetes drug disappointment

Wed, 19 Jun 2013 07:42:08 -0400

has suffered another drug trial setback.Its diabetes drug Onglyza, developed with Bristol-Myers Squibb, failed to reduce heart risks or strokes in a large scale clinical trial. Despite investor hopes, the Savor trial showed the drug was no better than placebo or standard treatments.Panmure Gordon analyst Savvas Neophytou issued a hold recommendation on the shares, which have dipped 2.5p to 32.48, ...

Ocado climbs on talk of possible interest from Amazon

Wed, 19 Jun 2013 07:42:07 -0400

reports that Boots and Amazon may be interested in Ocado.The Amazon suggestion, which is not completely out of the blue, comes from Cantor Fitzgerald. US analyst Youssef Squali said Amazon should buy Ocado, or at least consider a joint venture, as it begins its food delivery service in the US.Ocado's shares, which have been on the rise in recent months, have added another 2.7p to ...

Markets Markets wait for Federal Reserve policy meeting

Wed, 19 Jun 2013 07:41:41 -0400

Conall Mac Coille, chief economist Davy, commented -- "US indices rose on Tuesday, benefitting from a rebound in housing starts to 914,000 in June. The S&P500 rose 0.8%. But a rise in the German ZEW investor sentiment was not sufficient to buoy European markets - the Euro Stoxx 50 fell 0.1%. Ahead of the Fed's policy decision this evening, the minutes of the Bank of ...

Microsoft Samsung HP join to stop Windows piracy

Wed, 19 Jun 2013 07:39:24 -0400

IDG News Service - Hewlett-Packard and Samsung Electronics will now ensure that their PCs in China are installed with licensed Windows and Office software as part of new agreements signed with Microsoft meant to fight ...

The Real Reason Fed Will Taper Pro

Wed, 19 Jun 2013 07:39:16 -0400

Noted Nomura bear Bob Janjuah believes he knows the reason why the Federal Reserve will begin pulling back its easing program, and it's not about unemployment, inflation or anything else directly related to the economy. Instead, he believes the central bank is worried that it is creating an asset bubble that will only get worse if it keeps following the current ...

Fed Likely to Keep Options Open on Bond Buying

Wed, 19 Jun 2013 07:39:16 -0400

Federal Reserve policymakers will likely announce on Wednesday that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open to scale back the program later this year if the U.S. labor market continues to improve. Economic data since the 19 officials met in May has been mixed. Employment growth was steady and consumers kept spending despite the drag of tax ...

IRS to Pay $70 Million in Bonuses

Wed, 19 Jun 2013 07:39:15 -0400

The Internal Revenue Service is about to pay $70 million in employee bonuses despite an Obama administration directive to cancel discretionary bonuses because of automatic spending cuts enacted this year, according to a GOP senator. Sen. Chuck Grassley of Iowa says his office has learned that the IRS is executing an agreement with the employees' union on Wednesday to pay the bonuses. ...

Should Reckless Bankers Go to Jail

Wed, 19 Jun 2013 07:39:14 -0400

The UK parliamentary banking standards report calls for jailing reckless senior bankers and handing regulators the power to claw back bonuses. Helia Ebrahimi has ...

DuckDuckGo Gets Boost from NSA Scandal

Wed, 19 Jun 2013 07:39:14 -0400

DuckDuckGo CEO Gabriel Weinberg says web traffic on his search engine, billed as an alternative to Google that doesn't store your private information, surged 33 percent after the NSA news broke. Weinberg discusses the model of his search engine, and how the company makes ...

Obama says U.S. EU free trade deal can boost jobs and growth

Wed, 19 Jun 2013 07:36:13 -0400

U.S. President Barack Obama speaks next to German Chancellor Angela Merkel during a news conference after their meeting at the Chancellery in Berlin, June 19, 2013. REUTERS/Thomas ...

Bernankes Decision Likely Data Driven Expert

Wed, 19 Jun 2013 07:33:50 -0400

Catherine Mann, Brandeis International Business School, and Julia Coronado, BNP Paribas, share their perspective on what will likely be revealed from today's FOMC minutes, and the future of the Fed's bond-buying ...

Global Markets Europe Higher in Choppy Trade

Wed, 19 Jun 2013 07:33:47 -0400

CNBC's Ross Westgate reports on all the market moving events from Europe, as investors await the Fed's policy statement following its two-day ...

Google putting consumers at risk state AGs say

Wed, 19 Jun 2013 07:33:43 -0400

Google is being accused of "assisting in the sale of prescription drugs without a prescription and intentionally ignoring reports of rogue pirate sites selling stolen music, movies, software and video ...

Chinese Go On UK Luxury Spending Spree

Wed, 19 Jun 2013 07:30:47 -0400

A Chinese conglomerate is to spend 1bn to buy British yacht maker Sunseeker and develop an upmarket London hotel. Dalian Wanda Group is taking a 91.8% stake in Sunseeker for £320m. The yacht builder, which employs 2,300 staff in Dorset, has been told its base in Poole and the workforce will be retained. Management are to purchase the remaining ...

Chancellor Orders RBS To Accelerate US Sale

Wed, 19 Jun 2013 07:30:47 -0400

George Osborne is putting pressure on Royal Bank of Scotland (RBS) to accelerate its exit from the US retail banking market, Sky News understands. People familiar with discussions between the RBS board and the Chancellor say he has urged the bank in recent weeks to accelerate a stock market flotation of Citizens, one of the largest retail banks in the US, which has been pencilled in for 2015. ...

HM says new collections selling well

Wed, 19 Jun 2013 07:26:09 -0400

At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...

Chinas Wanda aims to launch $1 billion NY hotel project this year chairman

Wed, 19 Jun 2013 07:26:09 -0400

Wang Jianlin, chairman of Dalian Wanda Group, poses for a photo during an interview at his office in the company's headquarters in Beijing December 3, ...

Mortgage applications tumble as rates rise further MBA

Wed, 19 Jun 2013 07:26:09 -0400

NEW YORK (Reuters) - Interest rates on home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on ...

Tata Motors upgrades existing cars as rivals launch new products

Wed, 19 Jun 2013 07:26:08 -0400

TAMO.NS ) on Wednesday launched eight upgrades of existing models, including a CNG-fuelled version of its low-cost Nano, but said little about plans for completely new vehicles to help reverse sliding car sales in ...

Vodafone set to trump Liberty with $10 billion cash bid for Kabel sources

Wed, 19 Jun 2013 07:26:08 -0400

The logo of Germany's biggest cable operator, Kabel Deutschland, is pictured above a monitor wall at the Kabel Deutschland playout center in Frankfurt February 25, ...

Santander says does not need to make new bad debt provisions

Wed, 19 Jun 2013 07:26:07 -0400

At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...

Europe Markets European stocks rise with Fed update in sight

Wed, 19 Jun 2013 07:23:45 -0400

LONDON (MarketWatch) -- European stock markets moved cautiously higher on Wednesday, with what is likely to be a volatile day ahead as investors waited for the much-anticipated monetary-policy decision from the U.S. Federal ...

Wall Streets lawfare strategy against regulation | Heidi Moore

Wed, 19 Jun 2013 07:23:09 -0400

already weakened state of the attempt at financial regulation - like taking a hammer to a housefly. Still, a phalanx of injured parties - 11 states, two groups dedicated to conservative economic agendas and one Texas state bank - argued that Dodd-Frank is unconstitutional. Their complaints all center around the part of Dodd-Frank that wants to solve the problem of "too big to fail" by ...

Photos Rare Painting Sold for $21M

Wed, 19 Jun 2013 07:18:42 -0400

A rare Expressionist painting by Wassily Kandinsky, "Studie zu Improvisation 3, 1909", was auctioned for $21,157,438 on June 18 in London by Christie's. It was the most expensive item sold of 44 lots in the "Impressionist and Modern Art Evening Sale". In Nov. 2012, Kandinsky's "Studie fr Improvisation 8, 1909" set a record for the artist when ...

Photos Disney Estate on Sale for $90M

Wed, 19 Jun 2013 07:18:41 -0400

The Carolwood Estate, nicknamed the Disney estate, in Los Angeles is on sale for $90 million. The property once belonged to Walt Disney, founder of the Walt Disney Company, ABC News' parent. Billionaire Gabriel Brener bought the animator's old barn on Carolwood Drive from the estate of Disney's widow in 1998, tore it down and annexed the neighboring land. An eight-bedroom home was ...

STOCKS NEWS EUROPE-Micro Focus hits record high on earnings beat

Wed, 19 Jun 2013 07:13:50 -0400

* FY underlying pretax profit 26.4 mln euros, down 66 pct* Dividend maintained at 3.5 cents* Says confident of improved earnings in medium termBy James DaveyLONDON, June 19 (Reuters) - Darty, Europe's No. ...

Wall Street betting on last-minute debt deal

Wed, 19 Jun 2013 07:07:11 -0400

With no political deal in Washington on raising the U.S. debt limit just days before a crucial deadline, investors are increasingly worried about a downgrade of the country's top-notch credit rating, or even an actual governmnent debt default. The U.S. Treasury Department has said the Congress must act before Aug.2 to avoid a catostropic default. With the dealine drawing close fast,political ...

Average earnings up 0.5 in 2012

Wed, 19 Jun 2013 06:42:21 -0400

Average annual earnings for Irish workers rose by 0.5% last year to €36,079. Earnings were up in 9 of the 13 sectors covered by the CSO statistics for 2012. The sector which showed the biggest increase was "professional, scientific and technical" where average earnings rose 5.2% to just under ...

No NSA Spying Did NOT Prevent a Terror Attack on Wall Street

Wed, 19 Jun 2013 06:42:03 -0400

June 19, 2013 In response to the revelation that the NSA has been illegally spying on all Americans for more than a decade, NSA chief General Keith Alexander claimed that the spying prevented a terrorist attack on Wall Street and the New York subway. There's only one problem: the claim is completely false. The Christian Science ...

Indications Stock futures higher but jittery ahead of Fed

Wed, 19 Jun 2013 06:38:48 -0400

MADRID (MarketWatch) -- U.S. stock market futures moved cautiously higher on Wednesday as markets awaited the main event: a monetary-policy decision from the Federal Open Market Committee, with a press conference to follow from Federal Reserve Chairman Ben ...

Conventional markets could cure capital concern

Wed, 19 Jun 2013 06:35:48 -0400

The relationship between co-ops and capital has never been straightforward. While in theory co-ops fund their capital needs from their members' own capital and from retained profits, in practice co-ops have frequently needed to bring in external capital. ...

Savings rates lag inflation ... what are your options

Wed, 19 Jun 2013 06:35:47 -0400

savings account paying 3.38% a year, while those on a higher rate need an interest rate of at least 4.5%. And the bad news is that not a single standard savings account delivers big enough returns. Even if you do not pay tax, you will struggle to beat inflation: ...

Mervyn King outvoted on QE in his 194th and final MPC meeting

Wed, 19 Jun 2013 06:35:46 -0400

Bank of England rate-setting meeting.Minutes of the monetary policy committee (MPC) confirmed that the governor bowed out with one last call for another 25bn ...

Berkeley reports 26 jump in profits

Wed, 19 Jun 2013 06:35:44 -0400

property market in London and the south-east.Berkeley reported revenues of 1.4bn for the year ending April 2013, up more than 30% on last year, helped by advance sales of its riverside flats and detached houses.The housebuilder said activity outside the south-east had not recovered since the 2008 downturn, but was likely to pick up as a result of the government's "help to buy" ...

Wednesday Newspaper Review - Irish Business News and International Stories - - June 19 2013

Wed, 19 Jun 2013 06:35:13 -0400

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management ...

Airbus wins A350 order from Air France-KLM

Wed, 19 Jun 2013 06:21:13 -0400

Air France-KLM has been at loggerheads with suppliers over issues mainly including maintenance of the plane's Rolls-Royce engines ever since the deal was first mooted in 2011. Air France and Rolls had clashed over conflicting ideas for engine supply ...

German cartel court takes on Porsche lawsuit source

Wed, 19 Jun 2013 05:40:46 -0400

Reuters © A logo is seen on a Porsche 911 Carrera 4S displayed ahead of the annual news conference at the Porsche headquarters in Stuttgart March 15, 2013. REUTERS/Lisi ...

Asian Stocks Fall On Uncertainty Over Fed Policy

Wed, 19 Jun 2013 05:37:34 -0400

Asian stocks fell broadly on Wednesday as investors adopted a cautious stance ahead of the outcome of the two-day policy meeting of the U.S. Federal Reserve. With Fed Chairman Ben Bernanke scheduled to hold a press conference shortly after the meeting, investors wait to hear what he has to say about possible tapering of bond purchases and the future course of Fed policy. Japanese shares bucked ...

Stocks to Watch FedEx Micron are Wednesday’s stocks to watch

Wed, 19 Jun 2013 05:34:01 -0400

SAN FRANCISCO (MarketWatch) -- Among the shares expected to see active trade in Wednesday's session are those of FedEx Corp., Micron Technology Inc. and Red Hat ...

ITV buys US production company Thinkfactory Media

Wed, 19 Jun 2013 05:30:44 -0400

ITV has made its third foray into the US TV production sector, paying $30m (19m) for a controlling stake in the company behind Kevin Costner drama Hatfields & McCoys.The UK broadcaster is buying 65% of Los ...

Bankers banged up They need to return to planet Earth first | Polly Toynbee

Wed, 19 Jun 2013 05:30:42 -0400

Bang up the bankers! That has a nice ring to it, like the rioter's line in Henry VI (part two) that always gets a roar of approval, "let's kill all the lawyers". But does anyone really think any of them will land in the clink? The degree of personal recklessness would have to be extreme.The parliamentary commission on banking standards ...

Rio Tinto rises after Australian job cuts as markets await Bernanke

Wed, 19 Jun 2013 05:30:41 -0400

has moved higher after job cuts and a broker recommendation.The mining giant is cutting more than 40 office jobs in its Australian iron ore division, to reflect changing market conditions. Chief executive Sam Walsh unveiled plans earlier this year to save $5bn of costs over the next two years.Meanwhile Citigroup added the miner to its most favoured stock list, helping its shares climb 52p to ...

Dreamliner Diverted In Latest Boeing Setback

Wed, 19 Jun 2013 05:19:36 -0400

A Boeing 787 Dreamliner has landed safely after being diverted when pilots were made aware of a potential oil filter problem. In the latest of a series of setbacks for the new model, United Airlines said a Dreamliner on its way to Tokyo from Denver was forced to land in Seattle as a precaution. The planes were only recently returned to the skies after regulators grounded them worldwide due ...

Cable Presses For RBS Bonus Link To Lending

Wed, 19 Jun 2013 05:19:36 -0400

Vince Cable is to push for the new boss of Royal Bank of Scotland (RBS) to have his pay more closely-tied to its small business lending amid intensifying debate about its future. Speaking to Sky News, the Business Secretary said he was also considering the case for reinstigating formal lending targets for the state-backed bank for the first time since 2010. "I am keen for RBS to have ...

New Eurofighter chief aims to make jet cheaper

Wed, 19 Jun 2013 05:15:09 -0400

At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...

Parliamentary commission on banking standards reaction in full

Wed, 19 Jun 2013 04:26:21 -0400

major report from the parliamentary commission on banking standards calling for a new law to jail bankers for reckless misconduct, the deferral of bonuses and more measures to foster ...

G-8 leaders agree proposals on tax avoidance and evasion

Wed, 19 Jun 2013 04:25:53 -0400

The G-8 (Group of Eight - - 7 leading industrialised nations; US, Japan, Germany, UK, France Canada, Italy plus Russia) have agreed on proposals to tackle tax avoidance and evasion that call for new laws to stop businesses from shifting profits across borders, urge greater transparency about company ownership and sharing of ...

Japanese exports value jumps in May Trade deficit remains in red

Wed, 19 Jun 2013 04:25:52 -0400

HM Earnings Drop More Than Expected

Wed, 19 Jun 2013 04:23:52 -0400

H&M , the world's second-largest fashion retailer, posted a bigger than expected drop in second-quarter earnings, hit by still sluggish consumer morale and bad weather in its main European market. The Swedish company said it was entering the third quarter with higher inventories than planned and the situation remained challenging in many of its major markets, but sales had got off to a ...

UK Auditor Agrees Fine And Ban In New York

Wed, 19 Jun 2013 04:15:48 -0400

A division of one of the UK's biggest auditors, Deloitte, has been fined $10m (6.4m) by New York state for its actions in advising Standard Chartered Bank over money laundering. In addition to the fine, Deloitte's Financial Advisory Services arm was also banned for one year from taking new work in the state after officials ruled it did not carry out its duties independently. The ...

European stocks climb before Fed decision

Wed, 19 Jun 2013 04:14:18 -0400

EUROPE'S main stock markets rose at the start of trading on Wednesday, ahead of the outcome of the US Federal Reserve's latest monetary policy gathering. London's benchmark FTSE 100 index gained 0.12 per cent to 6,381.94 points, Frankfurt's DAX 30 added 0.30 per cent to 8,254.57 points and in Paris the CAC 40 advanced 0.12 per cent to 3,865.13 compared with Tuesday's closing ...

HM sales earnings slump

Wed, 19 Jun 2013 04:12:41 -0400

(20 mins ago) Swedish fashion retailer Hennes & Mauritz, which has stores in Hong Kong, says profits fell by 11 percent in the second quarter due to the strong Swedish krona and increased markdowns of its products. The company said net profit for the March-May period dropped to 4.66 billion kronor (US$720 million) from 5.22 billion a year earlier. Sales for the quarter slipped marginally to ...

Leasing firm CIT orders 30 Boeing 737 MAX planes

Wed, 19 Jun 2013 04:11:08 -0400

Visitors chat in front of models of the 777-300ER (L) and 737-8 MAX passenger planes, with a scale of 1:40, at the Boeing booth on the first day of the China International Aviation & Aerospace Exhibition in the southern Chinese city of Zhuhai November 13, ...

EADS sticks to defense business mulls options CEO

Wed, 19 Jun 2013 04:11:08 -0400

EAD.PA ) has no plans to give up its defense business but is open to seeking alternatives for parts of it, Chief Executive Tom Enders told a German ...

Revision of Cypriot bailout terms not likely euro zone officials

Wed, 19 Jun 2013 04:11:07 -0400

BRUSSELS (Reuters) - The euro zone does not intend to change the terms of Cyprus's bailout as requested by Cypriot President Nicos Anastasiades in a letter sent to euro zone leaders and its lenders, three senior euro zone officials said on ...

European stocks wobble as Fed statement near

Wed, 19 Jun 2013 04:09:18 -0400

LONDON (MarketWatch) -- European stock markets showed mixed moves at the open on Wednesday, with what is likely to be a volatile day ahead as investors wait for the much anticipated monetary-policy decision from the U.S. Federal Reserve. A statement from the Fed meeting is expected after the European markets close, followed by a press conference by Chairman Ben Bernanke. The Stoxx Europe 600 ...

UPDATE 3-Softbank closer to acquiring Sprint after Dish abandons bid for now

Wed, 19 Jun 2013 04:05:50 -0400

Wed Jun 19, 2013 4:05am EDT * Sprint shareholders meeting to determine whether SoftBank offer passes * Dish cites new hurdles in latest Sprint/SoftBank pact for decision * SoftBank shares rise, Sprint shares dip in late trade By Sophie Knight and Sinead Carew TOKYO/NEW YORK, June 19 (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint ...

George Osborne to outline plan for RBS Lloyds

Wed, 19 Jun 2013 03:28:42 -0400

The fate of Britain's two state-controlled banks will become clearer today, with the country’s finance minister George Osborne likely to start the clock ticking for the sale of the government's stakes. Britain's previous government pumped £66bn of public money into Royal Bank of Scotland and Lloyds Banking Group in 2008 to save them from collapse at the height of the ...

Metals Stocks Gold extends losses as Bernanke update nears

Wed, 19 Jun 2013 03:25:03 -0400

LOS ANGELES (MarketWatch) -- Gold futures fell Wednesday, remaining near one-month lows as the market braced for possible indication by the U.S. Federal Reserve that it will pull back the pace of monetary ...

Federal Reserve meeting dominates the markets - eurozone crisis live

Wed, 19 Jun 2013 03:21:48 -0400

After weeks of anticipation, Federal Reserve chairman Ben Bernanke will speak about the US stimulus package tonight. Photograph: Manuel Balce ...

First-rate customer care is key to making your business a success

Wed, 19 Jun 2013 03:21:47 -0400

Customers are the most important asset to your business and looking after them is essential to your success. All businesses, whatever their size, should have a carefully considered customer care plan and treat it as a core value. This means bearing your customers or clients in mind when making decisions and ensuring that they have positive experiences when dealing with your company.Offering ...

Would the threat of jail be enough to end bankers reckless behaviour

Wed, 19 Jun 2013 03:21:47 -0400

Jail threat for reckless bankers to help clean up system Commission led by Andrew Tyrie recommends jailing bankers for 'reckless misconduct' and enforcing a wait for ...

Deloitte banned from Wall Street consultancy work

Wed, 19 Jun 2013 03:21:15 -0400

The state of New York announced on Tuesday, that Deloitte, a Big 4 accounting firm, has been banned for a year from accepting Wall Street consultancy work - - in effect from hundreds of financial institutions in New York City and fined $10m for "misconduct, violations of law, and lack of autonomy during its consulting work at Standard Chartered on anti-money laundering ...

Smithfield CEO could make about $46.6 million from Shuanghui deal

Wed, 19 Jun 2013 03:06:23 -0400

SFD.N ) Chief Executive Larry Pope could receive nearly $46.6 million in merger-related payments as part of a planned takeover by China's Shuanghui International, a securities filing ...

Asian markets tense before Fed Nikkei outperforms

Wed, 19 Jun 2013 03:06:22 -0400

"It's merely a technical rebound," said Mitsushige Akino, chief fund manager at Ichiyoshi Asset Management. He said that with the market still vulnerable to selling, "most investors want to see the outcome before they take long ...

Obama to call for U.S.-Russia nuclear arms cuts

Wed, 19 Jun 2013 02:54:32 -0400

Barack Obama 's foreign-policy speech in Berlin Wednesday will call for additional U.S.-Russia nuclear-arms cuts, administration officials said. He is expected to say Washington and Moscow can shrink their nuclear arsenals by up to one-third beyond cuts mandated under the 2010 New Start, or Strategic Arms Reduction Treaty, without hurting deterrence or capabilities, the officials told The ...

UPDATE 1-Aegon cuts average earnings growth target for 2010-2015

Wed, 19 Jun 2013 02:54:09 -0400

Wed Jun 19, 2013 2:54am EDT (Releads with lower average growth target) AMSTERDAM, June 19 (Reuters) - Dutch life insurer Aegon on Wednesday lowered its average growth target for underlying earnings before tax, blaming the low interest rate environment. As recently as June 5, Aegon had stuck to its ambition of increasing underlying earnings before tax by between 7 and 10 percent on average over ...

UPDATE 1-HM earnings down more than expected in second quarter

Wed, 19 Jun 2013 02:47:06 -0400

Wed Jun 19, 2013 2:47am EDT * March-May pretax 6.1 bln SEK vs consensus 6.3 bln * Gross margin 61.1 pct, matching consensus * Says June 1-17 local-currency sales +17 pct * Inventories higher than planned end-Q2 * Says situation challenging in many big markets (Adds detail, background) STOCKHOLM, June 19 (Reuters) - H&M, the world's second-largest fashion retailer, posted a bigger than ...

Bankroller to roll film

Wed, 19 Jun 2013 02:22:55 -0400

Legendary Entertainment, the company that financed "Man of Steel" and the "Dark Knight" movies, is talking to "everybody" in Hollywood about a new production alliance, including incumbent Warner Bros. The company, led by founder and Chief Executive Officer Thomas Tull, expects to reach a decision in 60 days, the CEO said yesterday in a meeting with reporters. The ...

Rupert Murdochs hived-off newspaper company makes ASX debut

Wed, 19 Jun 2013 02:17:59 -0400

News Corporation’s split into two companies resulted in a debut share price of $15 for its publishing division, which encompasses many of Australia’s newspapers, but it began falling almost immediately. The media corporation has divided into New News Corp (NNC) and 21st Century Fox, with the latter still trading as News Corporation (NWS). NNC was valued at $15.00 per share as it ...

Bankers guilty of reckless misconduct should be jailed -- UK report

Wed, 19 Jun 2013 02:17:27 -0400

US Treasury Secretary Upgrades Signature

Wed, 19 Jun 2013 02:07:59 -0400

US Treasury Secretary Jacob Lew has upgraded his famously squiggly signature. Mr Lew's new John Hancock - which will be stamped on all newly printed paper bills - was unveiled by the Treasury Department on Tuesday. It is a marked improvement from the loopy scribble made public a few months ago when he took the post in President Barack Obama's ...

Currencies Dollar slips vs. yen with Fed outlook in sight

Wed, 19 Jun 2013 02:01:44 -0400

LOS ANGELES (MarketWatch) -- The U.S. dollar slipped against the Japanese yen and the euro Wednesday, ahead of highly anticipated guidance from the U.S. Federal Reserve on what it plans to do with its bond-buying ...

US intelligence director defends surveillance program says plot against Wall Street thwarted

Wed, 19 Jun 2013 01:58:40 -0400

WASHINGTON - The U.S. foiled a plot to bomb the New York Stock Exchange because of the sweeping surveillance programs at the heart of a debate over national security and personal privacy, officials said Tuesday at a rare open hearing on intelligence led by lawmakers sympathetic to the spying. The House Intelligence Committee hearing provided a venue for officials to defend the once-secret ...

Fed seen keeping options open on pace of bond buying

Wed, 19 Jun 2013 01:24:20 -0400

Reuters © Federal Reserve Board Chairman Ben Bernanke testifies before the Joint Economic Committee in Washington in this May 22, 2013 file photo. REUTERS/Gary ...

‘Candy’ is dandy IPO at hand-y

Wed, 19 Jun 2013 01:19:25 -0400

The UK-based makers of "Candy Crush Saga" are reportedly planning a sweet deal for investors.King, the online gaming company also known as Midasplayer, has hired bankers and is planning a US public offering, according to a report.The price and timing of the offering have not been determined.The London company has 70 million daily users and its "Candy Crush Saga" is the most ...

Sotheby’s auctions off its headquarters

Wed, 19 Jun 2013 01:19:25 -0400

Going once, going twice, sold - and leased back. At least that’s the plan, we’ve learned, for Sotheby’s current Upper East Side world headquarters. We hear investment sales ...

Dish exits Sprint for Clearwire

Wed, 19 Jun 2013 01:19:25 -0400

Charlie Ergen’s Dish Network said yesterday it would abandon its pursuit of wireless provider Sprint and instead focus on a tender offer for Clearwire. Dish said that it wouldn’t make last night’s deadline to submit a revised offer for Sprint, leaving Japan’s SoftBank as the lone contender to acquire the mobile carrier. That means can Sprint go ahead with a June 25 vote on ...

Stars light up Eden Roc terrace

Wed, 19 Jun 2013 01:19:25 -0400

Proving that Madison Avenue still has much to roar about, the hottest party of the Cannes Lions festival went off in style last night at the Hotel du Cap Eden Roc in Antibes. Stars of the advertising and media industry mingled at sunset on the hotel terrace before being treated to a performance by Michael Buble and the band Fun. The MediaLink and Clear Channel VIP dinner included co-host ...

Police shoot kill man holding child hostage inside Wal-Mart store www.privateofficer.com

Wed, 19 Jun 2013 01:04:22 -0400

-- A man was shot and killed by a Midwest City police officer Monday afternoon after holding a toddler hostage for more than half an hour inside a grocery store, authorities said. No names were released Monday. About 3:10 p.m., a man walked into the dairy section of the Walmart Market, 7520 E Reno Ave., grabbed a 2-year-old girl and held her at knife point, Midwest City Assistant Police Chief ...

Canadian economy may see turn of fortunes in second half of 2013

Wed, 19 Jun 2013 00:55:15 -0400

OTTAWA -- If there is going to be a significant and extended recovery in the global economy, it will need to continue forming in the second half of this year and solidify in ...

US auto giant GM breaks ground on China Cadillac plant

Wed, 19 Jun 2013 00:53:02 -0400

Cadillacs as it seeks a larger share of China's growing market for luxury cars. The plant will have annual output capacity of 160,000 vehicles with production to start in two years, GM officials told a news conference before the opening ceremony. "We're going to bring our high-end, premium product here and we're going to see how we run against the competitors from Europe and ...

Bankroller to roll film

Wed, 19 Jun 2013 00:15:04 -0400

Fresh Prince of W. 15th St.

Wed, 19 Jun 2013 00:15:04 -0400

BETWEEN THE BRICKS The last remaining unfettered development site in the Meatpacking District is going to morph from wood to wow. We’ve learned the Prince Lumber Co. at 61 Ninth Ave., on the southwest corner of West 15th St., will soon relocate to Clinton so its current valuable site can host a brand new 12-story glass office tower.Designed by Kohn Pederson Fox, the swirling glass ...