Latest Breaking Business News
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Bernanke says more positive signs needed before scaling back stimulus
WASHINGTON - Chairman of the Federal Reserve, Ben Bernanke Wednesday said it was too soon to scale back the monetary stimulus and the central bank needs to see further signs of traction before taking a decision. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain ...
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Higher exports fail to plug widening Japan trade deficit
TOKYO - Japan's trade deficit rose substantially more than expected in the month April to 879.9 billion yen ($8.6 billion), which is a 70% jump over the trade deficit during the corresponding month a year earlier, the Finance Ministry said Wednesday.. The deficit, for the tenth consecutive month, was wider than what many economists had forecast. A survey from the Nikkei business daily ...
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Vitamin C offers hope of tackling drug resistant TB
WASHINGTON - Adding vitamin C to existing tuberculosis drugs regime could shorten the therapy for drug resistant TB, claims new research findings published in the online scientific journal Nature Communications. The striking discovery, by researchers at Albert Einstein College of Medicine of Yeshiva University, has determined that vitamin C kills drug-resistant TB bacteria in laboratory ...
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IMF warns UK against continuing austerity programme
LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...
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Labour reforms to top US team agenda on Bangladesh visit
DHAKA - A high level US delegation led by the State Department's Under Secretary for Political Affairs Wendy Sherman will visit Bangladesh this weekend to press for a major overhaul of labour safety regulations following the nation's deadliest industrial accident, an official said Wednesday. The collapse of a nine-storey factory complex housing several garment units outside the capital last ...
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German central bank sees signals of economic pick up in Q2
FRANKFURT - Germany's central bank Deutsche Bundesbank expects the country's economy to improve "markedly" in the second quarter relying on signals of pick up in industrial orders and likelihood of weather related downturn in construction sector no longer impacting investment sentiments a development that could boost the wider eurozone as it struggles to get out of recession. "Overall ...
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Construction begins on new island off Jumeirah Beach in Dubai
Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...
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Mortgage lending in UK rises highest in four years
LONDON - The UK housing market seems to be picking up with gross mortgage lending up 4.3 per cent in April over previous month to 12.1 billion pounds, the highest in over four years, according to the Council of Mortgage Lenders (CML). The mortgage lending was 21% higher than April 2012, but this data is skewed by the end of the stamp duty concession on 24 March, 2012. Under the stamp duty ...
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Xbox One Steve Jobs dream device made by Microsoft
Just before he died, Steve Jobs told his biographer Walter Isaacson about his dream for revolutionizing television. His fantasy device would control all the many doodads that crowd your living room - DVRs, game consoles, Blu-ray players - and would connect to the vast world of entertainment available online. Best of all, it would be drop-dead simple to control - no more futzing with the Input ...
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European stock markets slide after Nikkei plunges 7 - live
The Markit Composite PMI, which measures activity across the German economy, came in at 49.9, up from 49.2 in April (where a 50-point reading separates expansion from contraction) German manufacturing output rose slightly, but was balanced out by a small drop in services. And France's private sector kept shrinking, with a composite PMI of 44.3 -- a long way from that 50-point ...
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Daily Mail publishers print revenues slide
Mail on Sunday declined 6% to 287m in the six months to the end of March, as print ads and circulation declined, while the Mail Online juggernaut continued with a 61% year-on-year revenue surge to 20m.Parent ...
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The smart technology for running your business from home
Working from home or running a business from home is a great thing, and using your own equipment can be fun, as well as productive. Many pieces of technology double up as both consumer and business products - here are a handful that I have tried. The opinions expressed here are my own. Feel free to add your own observations in the comments, ...
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Chinas manufacturing sector contracted in May
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 ...
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Abolish the Bonus System
What makes otherwise law-abiding people mis-sell insurance products or derivatives to their customers? Or manipulate market rates to their advantage? Or cover up loss-making trades in order to buy time to move their trading book back into profit again? Probably a whole series of factors, I imagine. But in the financial services sector there is a common thread running through all of these recent ...
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Perfect Storm Sparks Massive Nikkei Sell-Off
A perfect storm of yen strength, a spike in Japanese government bond yields and new evidence of weakness in China's economy were behind a major sell-off Thursday in Japan's equity markets, said experts. The ...
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Microsoft Surface Pro review a device of many talents
mystery press conference in Los Angeles on 19 June last year. Indeed, it was something of a shock, because for the first time, Microsoft was competing against its biggest customers: Windows PC suppliers such as Acer, Asus, Dell, HP, Lenovo, Samsung and ...
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Spains CaixaBank Mulls Sale of Part of Inbursa Stake
Spanish lender CaixaBank SA (CABK.MC) said Thursday it is considering the sale of about half of its current 20% stake in Mexico's Grupo Financiero Inbursa SAB de CV (GPFOY) in the Mexican and international markets.In a regulatory filing, CaixaBank said no final decision has been made on the potential deal and this will depend on market conditions.CaixaBank didn't provide any detail on ...
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Lloyds Banking Places 77 Million Shares of St Jamess Place at GBP5.80Share
Lloyds Banking Group PLC (LLOY.LN) Thursday said 77 million shares of St James's Place PLC (STJ.LN) have been placed at a price of 5.80 pounds per share, giving gross proceeds of GBP450 million.MAIN FACTS:-Will realise a gain on sale of GBP40 million.-Placing will increase the Group's core tier 1 capital by GBP40 million, equivalent to an approximate 1 basis point benefit to its core ...
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Fee income boosts S.Africas Investec FY earnings by 18 pct
Thu May 23, 2013 3:04am EDT JOHANNESBURG May 23 (Reuters) - South African investment bank and asset manager Investec reported an 18 percent rise in full-year profit on Thursday, boosted by strong income from fees and commissions. Investec, which is also listed in London, said diluted headline earnings per share totalled 30 pence in the year to end-March, compared with 25.4 pence a year ...
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Lloyds raises 450 million pounds from St. Jamess Place share sale
LONDON (Reuters) - State-backed Lloyds Banking Group said it had raised 450 million pounds from the sale of 15 percent of wealth manager St. James's Place to boost its capital.Lloyds said the 77 million shares had been placed at 580 pence per share, a 9.4 percent discount to its Wednesday closing price of 640 pence.After its previous sale of shares in St. James's Place in March, Lloyds ...
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Latam Africa surges ensure SABMiller profit growth
BRUSSELS (Reuters) - SABMiller, the world's second biggest brewer, reported profit growth in line with expectations thanks to a surge in earnings in Latin America and Africa and said its markets should be broadly unchanged in the coming months.The maker of Grolsch, Peroni and Pilsner Urquell, said on Thursday adjusted earnings per share rose 11 percent to 238.7 U.S. cents in the year to the ...
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Futures Movers Oil drops below $94 on weak China data
LOS ANGELES (MarketWatch) -- Weak Chinese manufacturing data and a drop in Asian stocks helped send oil futures lower in electronic trade ...
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Microsoft takes ‘console wars’ to next league with Xbox One
Don Mattrick, Microsoft's President of Interactive Entertainment Business, unveils the new Xbox entertainment and gaming console system at an event in Redmond, WA. on Tuesday, May, 21 ...
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Live discussion social enterprise and housing Wednesday 5 June 12-1.30pm
. In his piece, Temple said that while housing associations are a 'powerful lobby, an economic force and a major influence on all kinds of social policy', other social enterprises were yet to harness their sending powers.Figures show that 1700 registered housing associations spend 13bn annually - but 69% of housing associations spend less that 50,000 with social enterprises and 60% ...
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Apple taxes Irish economy and creating 200000 net jobs
EU summit on tax evasion/avoidance, Brussels, May 22, 2013: Enda Kenny, Irish taoiseach; Dalia Grybauskaite, president of Lithuania; Franois Hollande, president of France; Angela Merkel, German federal chancellor; Martin Schultz, president of the European ...
Turkmenistan Featured
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Turkmenistan's new olympic development could be blessing or curse
Work has finally begun on the massive Ashgabat Olympic complex development, a US $5 billion project that aims to enhance the standing of the capital city when Turkmenistan makes a bid to host the Olympic Games.
The sports complex being built in Ashgabat will be the largest and most state-of-the-art of its kind in Central Asia, underscoring Turkmenistan’s position as a regional power due to the country’s extensive natural gas and oil reserves, while its completion will also illustrate the growing presence of the country in the international community. Read more
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