Latest Breaking Business News
RSS-
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 ...
-
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 ...
-
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 ...
More Breaking Business News
RSS-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
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 ...
-
Microsoft launches all-in-one home entertainment system Xbox One
Microsoft has unveiled its latest video gaming console 'Xbox One' which is believed to transform games, TV and entertainment for the 21st century living room. The latest console reportedly promises a vision of the future. According to a report by the Mirror, 'Xbox One' will allow users to turn on the device with words like "Xbox On", and "snap" will allow users to watch two things at ...
-
Microsoft unveils new all-in-one Xbox console
Microsoft unveiled a new Xbox console Tuesday that represents a major upgrade on the US-market-leading Xbox 360 model. The president of the IT giant's Interactive Entertainment Business, Don Mattrick, revealed the hi-tech Xbox One entertainment and gaming console during an event at Microsoft's Redmond, Washington, campus. The Xbox One was presented as an all-in-one system for gaming, watching ...
-
Ford grows in America shrinks in Australia
Ford Motor Co. is adding production, and 3,500 jobs, in North America as it tries to keep up with Americans’ appetite for new cars and trucks. But the automaker will end production in Australia, cutting 1,200 jobs by 2016, as high costs left it unable to ...
-
Metals Stocks Gold falls after Fed talk boosts dollar
LOS ANGELES (MarketWatch) -- Gold futures fell Thursday, weighed by strength in the U.S. dollar after the head of the U.S. Federal Reserve indicated the central bank could start tapering stimulus efforts in the coming ...
-
In a 3 a.m. vote Raytown gives green light to downtown Wal-Mart grocery store
After meeting for about seven and a half hours, the Raytown Board of Aldermen voted 6-4 early Wednesday to allow a change that paves the way for a Wal-Mart grocery store in its ...
-
Ignore Fed Hawks Bernanke in Driving Seat
Federal Reserve Chairman Ben Bernanke would not risk a premature withdrawl of the stimlus that has underpinned the U.S. economic recovery, former vice chairman of the Fed Alan Binder told CNBC. In a testimony to Congress on Wednesday, Bernanke sounded a dovish tone, remarking that the premature tightening of monetary policy carries a "substantial risk" of slowing the economic recovery. ...
-
Hackers Find China Is Land of Opportunity
Name a target anywhere in China, an official at a state-owned company boasted recently, and his crack staff will break into that person's computer, download the contents of the hard drive, record the keystrokes and monitor cellphone communications, too. Pitches like that, from a salesman for Nanjing Xhunter Software, were not uncommon at a crowded trade show this month that brought together ...
-
Average U.S. 401 balance tops $80000 up 75 percent since 2009
BOSTON (Reuters) - 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 ...
-
SoftBank would appoint security director to Sprint board
S.N ) board if its takeover bid succeeds, and would give the U.S. government the right to approve the nominee, an attempt to address security concerns raised by the proposed ...
-
Mitsubishi Motors weighs capital shift dividends sources
7211.T ) is taking steps toward resuming dividend payments after nearly a decade-long turnaround bankrolled by other Mitsubishi group companies, according to people with direct knowledge of the ...
-
JGB yields surge markets spooked by Bernanke remarks
SINGAPORE (Reuters) - Japanese government bonds plunged on Thursday, taking yields to their highest in a year and leading a selloff in bonds globally after Federal Reserve Chairman Ben Bernanke's remarks sparked worries of a reduction in U.S. monetary ...
-
Delta will wait for new planes to mature CEO
DAL.N ) is letting a wave of orders for the newest planes on the market roll by, giving the jets time to prove themselves before buying, its chief executive told Reuters on ...
-
High costs currency push Ford out of Australia car manufacturing
F.N ) will shut its two Australian auto plants in October 2016, blaming a strong currency and costs that are hitting manufacturers just as the country looks for other sectors of its economy to cushion the end of a mining ...
-
BASF To Spend EUR300 Million A Year Globally to Raise Capacity for Agricultural Products
Germany-based chemicals company BASF SE Thursday said it plans to spend an average of EUR300 million annually to build additional production capacity for agricultural products.The company announced plans to set up a new formulation and packaging plant for crop protection products in China. The new plant, which will have an annual production capacity of 10,000 metric tons, will be set up in ...
-
Newcrest Says Exploration License to be Reconsidered
Australia's largest listed gold miner, Newcrest Mining Ltd. (NCM.AU), said an exploration license near one of its biggest mines is being reviewed by the state government after a court upheld objections from a small private explorer to it being renewed in full.The New South Wales Land and Environment Court ruled the government hadn't provided sufficient reasons to support the full ...
-
Metrobank Gets Central Bank OK for 3-For-10 Stock Dividend
The central bank has approved Metropolitan Bank & Trust Co.'s (MBT.PH) 3-for-10 stock dividend, Metrobank said on Thursday.The country's second-largest lender by assets is now waiting for the securities regulator to approve a plan to double its authorized capital to 100 billion Philippine pesos ($2.4 billion). At present Metrobank has 1.5 billion common and 1 billion preferred ...
-
HP earnings revenues go south
(48 mins ago) Hewlett-Packard said quarter profit was hit by a dramatic slump in sales of personal computers, while maintaining that its reorganization is making progress. The troubled but biggest maker of personal computers said net profit in the second fiscal quarter fell 32 percent from a year ago to US$1.1 billion. The earnings amounted to 87 US cents a share after adjustments, better ...
Memphis Angle
-
Memphis needs to become metro city government
The politics involved in discussions on whether or not the city of Memphis and Shelby County should be consolidated into a metropolitan government are often heated and always divisive. The issue is a controversial one with many opinions; one advocacy group believes that the failure to consolidate may hamper the development of city and wider county area.
Memphis and Shelby County are among 31 other pairs of cities and counties in the United States considering consolidation into a metropolitan government, as well as 6 taking steps towards consolidation and a further 43 that have either merged fully or partially. As the county seat of Shelby County, Memphis is the economic, transport and communications hub of the county, the land area of the city alone takes up almost of the entire county. Read more
News from around our Network
