Latest Breaking Business News
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June 28 to see News Corp split into two companies
WASHINGTON - Rupert Murdoch's News Corporation Friday announced the planned separation of the $76-billion conglomerate into two distinct publicly traded companies, with one to be renamed 21st Century Fox and the publishing firm to retain the News Corp brand. The split has been formally approved by the Board of Directors. The Company announced appointments to the Boards of Directors of both ...
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Audit records of Chinese firms to be made accessible to US regulators
BEIJING - Chinese regulators Friday announced that they have signed a memorandum of understanding with their US counterparts giving American authorities increased access to documents from Chinese audit firms. The signing of the MOU between China Securities Regulatory Commission (CSRC), the Ministry of Finance (MOF) and the US Public Company Accounting Oversight Board (PCAOB) is a significant ...
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Investments being sought by Croatia for oil exploration in Adriatic Sea
ZAGREB/LONDON - Croatia, soon to become the 28th member of the European Union,- is looking to undiscovered oil and gas fields in the Adriatic Sea to revive its ailing economy, according to the country's president. Ivo Josipovic told CNN that Croatia is searching for partners in the energy sector to help reveal oil and gas "green fields" in the waters that separate the Balkan nations and ...
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Fan fiction authors to find platform on Amazon
WASHINGTON - Amazon, the largest online retailer of books, movies, music and games, Friday offered its Kindle e-book platform to fan fiction authors to sell some of their work. Fan fiction is literature inspired by popular books, shows, movies, comics, music, and games. Publication outside of blogs and online fanzines is often difficult because of copyright issues. Amazon Publishing has ...
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Central bank of China to push forward market oriented reforms
BEIJING - China is planning to steadily push forward market-oriented reform in its interest rates and exchange rates mechanisms this year as part of the financial sector reforms to better serve the real economy, a central bank report said on Friday. The "China Financial Stability Report (2013) released by the People's Bank of China stressed that it would be steadily promoting the interest ...
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Irish biotech firm Elan rejects revised Royalty Pharma bid
DUBLIN/ WASHINGTON Ireland-based biotechnology firm Elan Thursday rejected Royalty Pharma's increased $6.4 billion takeover bid, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one share. Royalty raised its hostile cash bid to $12.50 per share on Monday, from $11.25 previously, but made the new offer conditional on Elan shareholders rejecting, at a ...
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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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Shareholders are flexing muscles over issue of high executive pay packages
A consultant advised shareholders to vote “no” this year on Coca-Cola CEO Muhtar Kent’s $30.5 million pay package. The company responded with a plan to cap bonus awards if stock returns are ...
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Top UCSD center named Qualcomm Institute
A University of California San Diego institute that's emerged as a leader in finding better ways for people to communicate, stay healthy and protect the environment was named Friday after its largest benefactor, chipmaker ...
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Stocks to Watch Stocks to watch Tiffany United Natural Foods
SAN FRANCISCO (MarketWatch) -- Tiffany & Co. and United Natural Foods will be among the stocks to watch Tuesday after the three-day holiday ...
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Should You Pay Someone to Manage Your 401
Fidelity says the average 401(k) balance topped $80,000 for the first time in Q1, reports CNBC's Sharon Epperson. Niall Gannon, The Gannon Group, and Patricia Powell, Powell Financial Group, ...
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Microsoft Compliant YouTube Windows Phone 8 app coming meanwhile take the dreadful old version back
sent by Google little over a week ago, today, Microsoft reaches out to me and announces a new update for its homebrew YouTube Windows Phone 8 app. You might want to contain that burning desire to hit the "Update" button though. "Microsoft and YouTube are working together to update the new YouTube for Windows Phone app to enable compliance with YouTube's API terms of service, ...
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Visa Mastercard ask U.S. court to declare card fees are lawful
An employee stands behind a MasterCard logo during the launch of the international credit card issuer's first ATM transaction in Myanmar, in Yangon November 15, ...
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Man at centre of SNC-Lavalin fraud allegations was key hire by company
MONTREAL - When SNC-Lavalin Group Inc. chief executive Jacques Lamarre met a hot-shot engineer named Sami Bebawi for dinner in mid-1998, he was looking for someone who could help turn around the company’s money-losing construction unit after years of ...
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Take A Secret Look Inside The Cocoon As A Caterpillar Transforms To A Butterfly
0 The transformation of a lowly caterpillar into a graceful butterfly is the kind of shocking fact of nature that's used to get children excited about science, so visible is the transformation, so tangible are the lessons. But what's actually going on inside the cocoon? Typically, scientists have had to dissect them to find out, killing the organism inside as a result, a casualty of ...
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Stocks trade flat market ends week lower for the first time since April
Traders gather at the post of specialist Ronnie Howard, center, on the floor of the New York Stock Exchange Monday, April 29, 2013. Enthusiasm on Wall Street sparked by another positive report on the U.S. economy helped push most Asian stock markets higher Wednesday May 15, 2013. But lower-than-expected German economic growth disappointed investors elsewhere. (AP Photo/Richard ...
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Metals and agricultural futures prices slip energy futures end mostly lower
Metals prices ended slightly lower Friday, as did agricultural futures. Crude oil ended the week down 2 percent as traders worried about global demand and shared the stock market's concerns about possible changes to the Federal Reserve economic stimulus program. Gold for June delivery fell $5.20 to $1,386.60 an ounce. Other metals prices also fell. July silver fell 1.2 cents to $22.496 ...
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Energy Stocks Energy stocks fall end week off 0.5
SAN FRANCISCO (MarketWatch) -- Energy stocks fell Friday, ending the week with a loss of 0.5% as gains earlier in the week cushioned heavy losses in recent trading ...
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Iceberg Picnic Goes Wrong in Iceland
A group of American tourists have been rescued from a drifting Icelandic iceberg that broke off from land as they were trying to picnic upon it, complete with folding chairs and table. The five imperiled picnickers are safe, plucked by a small rescue boat from the ice slab floating atop deathly frigid waters of the Fjallsrln glacial lagoon in Iceland, five-and-a-half hours east of Reykjavik. ...
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Bridge Collapse Will Slam Local Economy
The collapse of a bridge on a major West Coast highway could cost the state of Washington at least $47 million in lost economic output, as well lost jobs and tax revenues similar to the impact of a flood five years ago that also shut down another section of the road, officials said Friday. Brian Bonlender, director of the State Department of Commerce, said it would be difficult to pinpoint the ...
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Wal-Mart to sell Fatburger patties
NEW YORK (AP) -- Fatburger, a chain with a devoted following on the West Coast, said Friday it will sell its branded frozen beef patties in Walmart stores nationwide.The Beverly Hills, Calif.-based chain said the beef patties are in select stores now and will roll out nationally over the next several weeks.Fatburger, which was founded in 1952, has about 150 locations globally; half of those are ...
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Infoblox profit forecast beats estimates shares rise
BLOX.N ) reported a better-than-expected quarterly profit on higher demand for its network automation products and forecast current-quarter earnings above analysts' ...
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Justice Department opposes AMRs $20 million severance for CEO Horton
LCC.N ) is coming under fire from the U.S. Department of Justice over nearly $20 million in severance pay earmarked for outgoing boss Tom ...
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Bausch Lombs Ista pleads guilty over kickbacks
(Reuters) - Ista Pharmaceuticals Inc WPRISI.UL pleaded guilty on Friday to charges it used kickbacks and improper marketing to boost sales of a drug meant to treat eye pain and agreed to pay $33.5 million to settle criminal and civil liability, the U.S. Department of Justice ...
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Markets Post Weekly Loss Snap Four-Week Streak
FOX Business: Capitalism Lives Here The S&P 500 slid more than 1% this week in its first weekly loss in five amid worries about when the Fed will begin tapering its vast asset-purchase program. Today's Markets The Dow Jones Industrial Average rose 8.6 points, or 0.06%, to 15303, the S&P 500 dipped 0.91 point, or 0.06%, to 1650 and the Nasdaq Composite slipped 0.28 point, or ...
Cambodia Focus
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Cambodia reliant on China for a range of infastructure projects
Cambodia is in need of foreign investment for a number of major infrastructure projects and China is becoming the country’s biggest investor on several key ventures. This is part of a broader expansion in China’s influence in Asia as the country continues to develop into the world’s second superpower.
Cambodia suffered through the economic downturn that came about following the financial crash toward the end of 2008. In 2009, the economy contracted 1%, which wrought significant hardship for many hundreds of thousands of people, most notably those employed in the garment sector as the export of clothing fell by around 20% in value. Read more
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