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  • Ex-Im Bank loan guarantee to Air India upheld by US appeals court Ex-Im Bank loan guarantee to Air India upheld by US appeals court

    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 ...

  • Google spending $7mn to fight child pornography Google spending $7mn to fight child pornography

    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. ...

  • Aspen seeks to acquire GSK thrombosis drug and plant Aspen seeks to acquire GSK thrombosis drug and plant

    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 ...

  • Shenzen to be first Chinese city to begin carbon trading Shenzen to be first Chinese city to begin carbon trading

    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 ...

  • UK inflation rises to 2.7pc in May pushed by higher transport cost UK inflation rises to 2.7pc in May pushed by higher transport cost

    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 ...

Movie Review

Wall Street: Money Never Sleeps

Wall Street: Money Never Sleeps

A decade ago, Oliver Stone was the premiere cinematic chronicler of the recent American past. No filmmaker better nailed the anxieties and failed dreams of the 1960s and, more importantly, the remorse that followed, than Stone did in Platoon (1986), Born on the Fourth of Ju ... ...

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

    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 ...

  • George Osborne to outline plan for RBS Lloyds

    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

    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

    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

    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

    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

    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

    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

    "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 ...

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

    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

    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

    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

    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 ...

  • US Treasury Secretary Upgrades Signature

    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 ...

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

    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

    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

    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

    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

    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 ...

  • Stars light up Eden Roc terrace

    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

    -- 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

    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 ...

  • Bankroller to roll film

    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 ...

  • Fresh Prince of W. 15th St.

    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 ...

  • Let’s make a DELL

    Icahn doesn’t know how to quit. The billionaire activist yesterday suddenly switched tactics in his high-stakes bid to upend an effort by Michael Dell and partner Silver Lake Management to take PC maker Dell Inc. private for $24.4 billion.The 77-year-old investor demanded that Dell Inc. launch a $14-a-share tender offer for about 60 percent of the PC maker’s outstanding shares. The ...

  • Eyes to focus on European economic data Eurogroup meeting and G8 summit

    This week, the main focus will be on economic data as investors try to get clues regarding central bank stimulus which rattled markets over the previous few weeks. ‏Meanwhile, we are at an important phase as central banks will decide on their non-standard measures according to the improvement they see at their economies. ...

  • Wall Street opens higher boosted by New York manufacturing data

    U.S. stocks opened broadly higher Monday, as investors awaited Wednesdays Fed policy meeting, with increasing confidence that the Fed wont start tapering in super-easy ...

  • Wall Street close in green ahead of the Feds meeting tomorrow

    U.S. stocks closed higher Tuesday after U.S. housing starts and consumer inflation rose below estimates last month as investors await the end of the Federal Open Market Committee meeting ...

  • European stocks gain Fed policy outcome in spotlight

    European stocks opened higher on Monday, rebounding from last weeks losses as investors were waiting for clues on whether the Federal Reserve might exit its quantitative easing program this ...

  • European stocks set another weekly loss despite ending higher for the day

    European stocks finished modestly higher Friday, yet posting the fourth straight week in losses, looking ahead for U.S. Federal Reserve policy meeting next week. The Stoxx Europe 600 index closed 1.5% lower on the week, with investors worrying a reduction in central liquidity will give financial markets a heavy blow. Investors also looked to the U.S. to gauge if fresh data could strengthen or ...

  • Asian stocks extend losses as BoJ woes continue to weigh

    Asian stocks slid further on Wednesday as Bank of Japan’s (BoJ) latest monetary policy decision revived fears that other central banks, including the U.S. Federal Reserve, could scale back stimulus ...

  • Asian stocks mixed ahead of Fed meeting

    Asian stocks were mixed on Tuesday as caution is rising ahead of the U.S. Federal Reserve two-day convening Tuesday, which might give clues on when the central bank could start tapering monetary stimulus amid recovery ...

  • Asian stocks jump as Nikkei recovers some losses following strong U.S. data

    Asian stocks jumped Friday as strong U.S. data lifted confidence about the ability of the U.S. economy to withstand any cut in stimulus. The upbeat retail sales and jobless claims triggered a rally on Wall Street and soothed the panicking Asian markets ahead of next weeks Federal Reserve policy ...

  • Bankers Should Face Jail Terms Report Says

    A new criminal offence punishing bankers for "reckless misconduct" while running their institutions is the centrepiece of proposals unveiled by a group of MPs and peers aimed at reforming the industry. The Parliamentary Commission on Banking Standards (PCBS), which was set up after last summer's Libor-manipulation scandal led to Barclays being fined £290m, said in its ...

  • Empire State Building gets left-field $2 billion offer to sell

    NEW YORK (Reuters) - A New York City real estate company offered to buy the Empire State Building for $2 billion, a written offer showed, significantly below the skyscraper's appraisal price and about three weeks after investors in the iconic building approved a plan to take the tower public in a real-estate investment ...

  • GM aims for 10 percent of Chinas luxury car market by 2020

    GM.N ) said on Wednesday it aims to quadruple its share of China's luxury auto market to 10 percent by 2020 as the U.S. automaker launches new Cadillac models and expands its distribution network in the world's largest car ...

  • Asia business sentiment rises in second quarter global growth risk still dominates

    SEOUL (Reuters) - Asia's top companies have become more optimistic about their business outlook with the retail and shipping industries rebounding sharply in the second quarter of 2013, the latest Thomson Reuters/INSEAD Asia Business Sentiment Survey ...

  • Wells Fargo securities lending case goes to trial

    A group of 11 jurors will decide whether Wells Fargo & Co. grossly mismanaged a former securities lending program and lied about its safety, or whether the financial calamity that followed the boom was to blame for millions of dollars in ...

  • Amazon drops blogger affiliates in Minnesota to avoid sales tax

    The move, which parallels those by other Internet retailers, is a response to an upcoming change in the state’s tax law that applies to ...

  • City Deli to get new owner new name

    The planned change in ownership was disclosed on Tuesday to the deli's two dozen employees, who were told that the new owners plan to keep them on through the ...

  • Dish Focuses on Clearwire

    SoftBank Corp , which is also trying to buy Sprint. Satellite TV provider Dish said in a statement that it was not practical for it to submit a revised offer by the June 18 deadline imposed by Sprint even though it "continues to see strategic value in a merger with Sprint." ...

  • What if Wall Street doesnt like what Fed says

    One analyst's take: 'We are so screwed' when bond buying eases NEW YORK -- Ever since it began injecting cash into the financial system in 2008, the Federal Reserve has been compared to a drug dealer by critics. The Fed's bond-buying and zero-interest-rate policy, they say, is akin to a performance-enhancing, steroid-like drug with the addictive quality of crack cocaine. ...

  • REFILE-WRAPUP 1-Asian stocks to lead the way to years end Fed seen pulling back - poll

    Member Benefits Manage your personalised Watchlist. Set up an online Virtual Portfolio. Participate in Share Chat. See more trades and director dealings. Play the Fantasy Share Trading ...

  • Mexican oil producer Pemex evacuates headquarters after bomb threat

    MEXICO CITY, June 18 | Tue Jun 18, 2013 10:12pm EDT MEXICO CITY, June 18 (Reuters) - Mexico's state oil producer, Pemex, on Tuesday evacuated its Mexico City headquarters, the site of a deadly explosion in January that killed at least 37 people, after a bomb threat, a company spokesperson said. "In the face of the threat, we're applying security measures at the Pemex tower ...

  • Kodak prepares $406 million offering as it eyes bankruptcy exit

    on Tuesday said it will seek court approval for a $406 million (259.7 million pounds) 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 ...

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