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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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 ...
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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 ...
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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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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 ...
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Japan Bond Yields Spike – 10-Year Now at 1
Japanese government bond (JGB) yields soared to 1 percent on Thursday, their highest level in a year, prompting the Bank of Japan to hold true to its promise of taking action to stabilize an incredibly volatile bond market. Analysts expected the market volatility to last for a while, but added that buying by domestic pension funds and the central bank should help keep a lid on yields. Benchmark ...
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AIG eyes new director with regulatory experience
AIG.N ) board is looking for a new director with regulatory experience, as the insurer readies for the government to classify it as big enough to merit greater scrutiny, according to two sources familiar with the ...
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Nissan to recall 841000 vehicles due to steering wheel glitch
7201.T ) will recall about 841,000 vehicles worldwide including the Micra compact car, also known as the March, as a result of a steering wheel glitch, Japan's No.2 automaker said on ...
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BRIEF-Lloyds says St James Place divestment to raise 450 mln stg
LONDON | Thu May 23, 2013 2:09am EDT LONDON May 23 (Reuters) - Lloyds Banking Group PLC : * Placing of shares in st james's place plc * Gross proceeds of the placing are approximately 450 million * Settlement of placing will take place on 29 may. on completion, Lloyds will hold 110 million st james's place ...
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Lenovo shares jump more than 4 percent after earnings beat forecast
Reuters © A convertible Lenovo Ultrabook is displayed at an Intel news conference during the Consumer Electronics Show (CES) in Las Vegas January 7, 2013. REUTERS/Steve ...
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Path says ‘eye’ do
Get a look at what could be the most expensive catering hall in the world.The $3.74 billion World Trade Center PATH terminal - a Santiago Calatrava-designed centerpiece known as the Oculus - will be rented out for such events as charity fundraisers, art shows and, yes, maybe even weddings, The Post has learned.The eye-shaped, multistory space - so large it can fit two-and-a-half Grand Central ...
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CEO median salary $9.7M
The head of a typical large public company made $9.7 million in 2012, a 6.5 percent increase from a year earlier, aided by a rising stock market, according to an analysis of data from Equilar. CEO pay, which rose 6 percent in 2011, has never been higher.Pay for all US workers rose 1.6 percent in 2012, not enough to keep up with inflation. The median US wage was $39,900 in 2012, according to the ...
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Ratner puck luck ploy
Barclays Center owner Bruce Ratner is trying to defend against a power play.The developer, who hopes to bring six New York Islanders games a season to a slimmed-down Nassau Coliseum once the team moves to Brooklyn, said he doesn’t think Madison Square Garden can block the move."I don’t think it requires [MSG’s] approval," Ratner told Fox Business Network yesterday. ...
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Restructuring Ross now headed for trial
Billionaire Wilbur Ross is famous for restructuring failing companies - but shareholders say he crossed a line when it came to bailing out one of his own bad investments.Nearly four years after it was brought, a lawsuit accusing the legendary founder of New York-based WL Ross & Co. of double dealing and breach of fiduciary duty is headed to trial.A South Carolina state judge last week ...
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Twitter ups its security
Twitter is adding an extra security measure to prevent unauthorized log-ins.The microblogging service said yesterday that users will be able to enroll in a log-in verification program. Twitter will send a six-digit code using a text message each time the user signs in to Twitter.com. Besides their username and password, users will have to enter the code to log ...
Brunei Featured
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New Focus on Brunei's Schools
Brunei has an education system to be proud of, which has made the recent discovery of dirty and badly maintained toilet facilities at 180 schools all the more unacceptable for the Ministry of Education.
Brunei has one of the best systems of education in the region. As a country, Brunei spends over 10% of its government budget on education, among children in the country there is a 99% literary rate, and schooling for all citizens is free (while foreign residents pay only a small charge). Read more
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