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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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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Tesco will not pay executive bonuses without rise in profits
executives will not receive a bonus in the current financial year unless they can reverse a decline in profits at Britain's biggest supermarket operator, the company said in its annual report on Thursday.The report rounds off a torrid year for the company, which announced a withdrawal from the United States and wrote down the value of its global operations by $3.5 billion (2.3 billion ...
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US stocks sink after global rout
NEW YORK (AFP) - US stocks fell modestly Thursday after the plunge in the Japanese market sparked a selloff throughout Asia and Europe.A little more than an hour into trade, the Dow Jones Industrial Average was down 68.35 points (0.45 percent) to 15,238.82.The broad-based S&P 500 dropped 11.74 (0.71 percent) to 1,643.61, while the tech-rich Nasdaq Composite Index fell 13.91 (0.40 percent) to ...
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Stocks fall in early trading on Fed stimulus concern contracting Chinese manufacturing
NEW YORK - Stocks fell in early trading, extending a sell-off that began Wednesday afternoon, after Chinese manufacturing unexpectedly contracted and on concern that the Federal Reserve may ease back on its stimulus program. The Dow Jones industrial average was down 50 points at 15,256 as of 10:28 a.m., a decline of 0.3 percent. It had been down 127 points in the early going following steep ...
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What to know about refinancing
The housing market is soaring in part because mortgage rates have never been this low. However, rates have been slowly climbing back up with the improvement of the economy and better-than-expected jobless claims. Refinancing and lowering your rate can be a great way to increase cash flow if you are planning on holding onto the property as a long-term investment ...
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Apricus sets offering price at $17.1 million
The shares include warrants to buy up to 3 million shares at an exercise price of $3.40 per share. Apricus has given underwriters a 30-day option to buy up to an additional 900,000 shares and warrants to buy up to an additional 450,000 shares to cover over-allotments, if ...
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Financial Stocks Citi leads financial stocks lower
NEW YORK (MarketWatch) - Financial stocks tipped lower Thursday, tracking a drop in the broader global equities markets on concerns the Federal Reserve will reduce its bond-buying program and a drop in China's manufacturing index for ...
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Tech Stocks H-P a big gainer as other techs trim losses
SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. shares flexed their muscles, and some other tech stocks advanced as the sector tried to pull itself out from big, early losses spurred by negative reaction to a slate of economic ...
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Bond Report Treasurys benefit from flight-to-safety bid
NEW YORK (MarketWatch) -- Treasurys were beneficiaries of investors' flight to safety on Thursday as global stock markets posted sharp losses, but lost most of their gains as the day wore ...
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Market Snapshot U.S. stocks drop hit by Fed Asian selloff
NEW YORK (MarketWatch) -- U.S. stocks dropped in Thursday morning trade after Japanese equities dived overnight, as global markets reacted to weak Chinese manufacturing data and worries about the Federal Reserve's potential tapering of its bond-buying ...
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Ford Motors to Leave Australia After 90 Years
Ford Motor Company announced Thursday that it would stop making cars in Australia within two years because high costs and low volumes mean it cannot compete with imported vehicles. Ford Australia chief Bob Graziano said that closing its plant in Melbourne and the other 60 kilometres further south-west in Geelong would see 1,200 workers laid off by October 2016. "Our costs are double ...
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Savers face limited options despite fall in inflation rate
Savings for most continue to be eroded and there are only limited choices for those wanting to beat inflation. Photograph: Katherine Rose for the ...
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Markets Global shares slide Spanish bond yields rise
Asian stocks plunged Thursday with Japan's Nikkei 225 plunging almost 7.3%; markets are down by 2% on average in Europe and they have opened off in New ...
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US New Home Sales Rise Mortgage Rate Ticks Up
Sales of new homes rose in April to the second highest level since the summer of 2008 while the median price for a new home hit a record high, further signs that housing is recovering. A separate report out on Thursday showed that average rates on fixed mortgage rose for the third straight week, hitting their highest levels since mid-March. New-home sales rose to a seasonally adjusted annual ...
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Companies Try to Outwit Mother Nature
disastrous tornadoes in Moore, Okla., and last October's Hurricane Sandy, it has never been more critical to be able to forecast long range events. Big data analysis is turning the guesswork of yesterday's meteorology into a more precise and predictive science. Several big data companies are focusing on long-term weather modeling, and have found that by identifying patterns, comparing ...
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Bernanke and IRS Two Brewing Storms
Fed Chairman Ben Bernanke may have opened the first one. No matter that it is highly unlikely economic data will come in showing sufficient strong and sustained growth to justify tapering bond purchases any time soon ...
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GameStops mobile digital sales rise earnings drop
GameStop reported an increase in digital and mobile sales but a decrease in earnings during its first quarter. GameStop Corp. reported a jump mobile and digital sales during its first quarter, but the companys earnings and sales of new software and hardware are still on the decline. The Grapevine-based gaming company reported a 290 percent increase in mobile sales of $46.8 million during its ...
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New home sales rise prices surge to record highs
(Reuters) - Sales of new single-family homes rose 2.3 percent in April, and prices climbed to record high levels, offering strong proof the sector's rebound trend is ...
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China formally approves Boeings Dreamliner for use
BA.N ) 787 Dreamliner for use in the country, clearing the way for Chinese airlines to start operating the aircraft, which has been plagued with ...
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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