Latest Breaking Business News
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Appeals court directs Ex-Im Bank to explain rationale for loan guarantee to Air India
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 ...
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Google renews efforts wipe out child porn images from internet
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. ...
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GSK negotiating sale of thrombosis drug and plant to Aspen
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 ...
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Carbon trading to begin in Shenzhen in bid to cut emission
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 ...
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Rise in transportation costs push up UK inflation to 2.7pc
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 ...
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‘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 ...
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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 ...
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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 ...
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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 ...
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NSA director says sweeping surveillance program foiled plot against Wall Street
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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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. ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
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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 ...
Orlando Focus
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Some residents of Orlando unthrilled by new theme park plan
Tourism is essential to the economy of Orlando, to such an extent that The City Beautiful has become something of the capital city of amusement parks, not necessarily because of their number, but because of the calibre of amusement parks that are located within Orlando. A new theme park proposal for the city, however, has courted the ire of residents.
The three major amusement parks, or theme parks in Orlando are Walt Disney World Resort, SeaWorld Orlando and Universal Studios Orlando, all of which are massive in size and comprise of several different huge parks within themselves. Read more
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