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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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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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Chidambaram says U.S. Federal Reserves statement misunderstood calls for calm
Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves. Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor ...
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Shareholder adviser firm ISS paying $300K fine to settle charges of failing to protect clients voting info
WASHINGTON - A prominent firm in the business of advising big shareholders on how to vote in elections for company directors is paying a $300,000 fine to settle federal civil charges of failing to protect clients' confidential voting information.Institutional Shareholder Services agreed to the penalty in a settlement announced Thursday with the Securities and Exchange Commission. Its ...
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Nissan recalls Micras over steering problem
Nissan is recalling tens of thousands of its Micra cars in the UK after some drivers reported that the steering wheel became loose in their hands.The Japanese firm announced it was calling back 841,000 cars worldwide over the glitch, the company's third major recall in less than a year.In the UK, the recall applies to 133,869 Micras made between December 2002 and May 2006 at the ...
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Microsoft expands Windows Azure in Asia Pacific
Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Janet I. ...
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High street blight are pound shops better than empty shops
The north-west of England has the highest number of empty shop units in the UK, and as big retailers leave our town centres, the kind of businesses that thrive in hard times are moving in.Town centres across the region are becoming swamped with payday lenders, pawnbrokers and pound shops. As our high streets become increasingly geared towards making money from people who don't have any, ...
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Microsoft to deliver new Kinect for Windows sensor next year
Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Janet I. ...
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Apply Here Rust Belt Tempts Immigrants
Immigrants have long been drawn to the vitality and economic opportunity offered by New York, Los Angeles, and Silicon Valley. And if new immigrant legislation passes, those areas will reap the benefits of attracting educated entrepreneurs. But Rust Belt cities like St. Louis, Cincinnati, and Dayton, Ohio, don't have the same allure. The loss of manufacturing jobs and declining populations ...
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Kmarts New Ad Its a Gas
YouTube ad promotes a 30-cent savings per gallon of gas when you spend at least $50 at Kmart. The commercial is called "Big Gas Savings.. (Say the first two words out loud together quickly. Yep). Don't think we'll see this on TV, where no one watches commercials anymore anyway. Anyhow...everyone in the commercial says "big gas" in one way or another, none more so than ...
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Average 401 Up 75 Percent Since 09
The average 401(k) retirement balance for U.S. workers hit a record high of $80,900 in the first quarter, a growth spurt of 75 percent since the stock market's nadir in March 2009, Fidelity Investments said on Thursday based on a survey of its accounts. Most of the recovery is linked to a stock market rally that has lifted the broad S&P 500 Index 145 percent since the close of trading ...
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Cautious calm returns to Wall Street
Source: Reuters Wall Street has been had mixed trading today, paring sharp early losses after disappointing data from China and a slump in Japanese stocks outweighed better-than-expected reports on US jobs and housing. In China, the preliminary reading for a Purchasing Managers' Index of manufacturing was 49.6 in May, according to HSBC and Markit Economics data. In Japan, the Topix ...
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Apple supplier Cirrus slumps as pricing pressure grows
Cirrus said in the filing it expects gross margins in the mid-40s. It did not indicate what period it was referring to and a spokesman did not immediately reply to a request for ...
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ChannelAdvisor soars in debut
(Reuters) - ChannelAdvisor Corp shares soared more than 40 percent in their market debut on Thursday as investors bet the e-commerce software company will benefit from the rapid global spread of online buying and ...
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Goldman Sachs banker settles SEC pay-to-play charges
WASHINGTON (Reuters) - Former Goldman Sachs banker Neil Morrison agreed to pay $100,000 to settle charges for his role in a pay-to-play scheme involving a Massachusetts gubernatorial campaign, the largest such penalty paid by an individual, the U.S. Securities and Exchange Commission said on ...
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SAC lawyers met with prosecutors to argue against charges sources
NEW YORK (Reuters) - Lawyers for SAC Capital Advisors called a meeting with U.S. prosecutors and FBI agents in April to argue that there should be no insider trading charges filed against the $15 billion hedge fund or its founder, Steven A. Cohen, according to sources familiar with the ...
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Icahn seeks up to $7 billion for Dell bid
Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange, in this June 27, 2007, file ...
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Pentagon sees slight drop in F-35 acquisition costs sources
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 ...
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Who repaid U.S. loan first Chrysler Tesla dont see eye to eye
CEO of Tesla Motors Elon Musk speaks during a session titled ''To Infinity and Beyond: Jeff Skoll talks with Elon And Kimbal Musk'' at the Milken Institute Global Conference in Beverly Hills, California April 29, ...
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Ally to pay $2.1 billion to settle claims tied to ResCap
(Reuters) - Ally Financial Inc agreed on Thursday to pay $2.1 billion to settle legal claims tied to its bankrupt Residential Capital LLC unit, nearly triple the amount it initially offered to creditors of the subprime mortgage ...
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Ex-Goldman Investment Banker Pays $100000 in SEC Pay-to-Play Case
A former investment banker at Goldman Sachs Group Inc. (GS) agreed to pay $100,000 and submit to a five-year ban from the securities industry to settle Securities and Exchange Commission allegations about his role in a pay-to-play scheme involving the 2010 Massachusetts gubernatorial race.The ex-banker, Neil M.M. Morrison, worked in Goldman's municipal-bond-underwriting business, and his ...
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Target Macys and Others Sue Visa and MasterCard Over Fees
Some of the country's biggest retailers sued Visa Inc. (V) and MasterCard Inc. (MA) Thursday, arguing the world's largest payment networks have imposed anticompetitive transaction-fee policies and card-acceptance rules on merchants.The lawsuit, brought by Target Corp. (TGT), Macy's Inc. (M), Saks Inc. (SKS), Kohl's Corp. (KSS) and other merchants, claims existing efforts to ...
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