Latest Breaking Business News
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Iceland PM Aims to Remove Capital Controls
Iceland's new prime minister, Sigmundur David Gunnlaugsson, said late Thursday that he aims to remove capital controls that have been in place since the nation's economic collapse several years ago and to reintroduce a free-floating currency.He also said the nation needs to meet the so-called Maastricht criteria for euro-zone nations even if the country isn't immediately headed ...
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Venezuelas PdVSA to Receive $1.5 Billion Loan From Rosneft for Oil Joint Venture
State-energy monopoly Petroleos de Venezuela, or PdVSA, and Russian oil company Rosneft (ROSN.RS) signed deals Thursday to boost production at a new joint venture in the South American country's vast Orinoco heavy oil belt.Russia will extend to Venezuela a $1.5 billion loan as well as a separate $1.1 billion bond for its participation in Petrovictoria, which will oversee exploration and ...
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Pressure mounts at Matrix Asset Management
So many challenges, so little time --in a sense, that sums up the situation at Matrix Asset Management, a publicly listed money manager with about $1-billion under management whose team includes GrowthWorks and Seamark Asset Management. Those challenges include: Working capital deficiencies: On Thursday, Matrix and Seamark told the world that they are continuing "to pursue measures for ...
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Diluent shortages could make for sticky situation for Alberta bitumen
CALGARY - Alberta's bitumen growth prospects could slow on shortages of a much lighter product as companies opt to send crude directly to refineries on the U.S. Gulf Coast and in Asia rather than process the stuff at home. Demand for diluent, industry slang for super-light oil called condensate and other natural gas liquids that is blended with bitumen so it can flow in pipelines, is ...
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American Express CDC Take Home Top GoodWorks Effie Awards
GoodWorks Award highlights great work by companies using their platforms for greater social good while also moving their primary mission forward. ...
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The Donald prevails in fraud suit
CHICAGO An 87-year-old grandmother took on billionaire Donald Trump. And on Thursday she lost. Jurors sided with the real estate mogul-turned-TV showman in a weeklong civil trial focused on Jacqueline Goldberg's claim that Trump cheated her in a condo bait-and-switch scheme. The federal jury in Chicago returned with a finding in Trump's favor. Goldberg, of Evanston, had sought various ...
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Stocks wobble as investors digest Fed worries
NEW YORK Stocks are ending the day slightly lower after recouping a big loss early on. U.S. markets fell immediately after the opening bell following a global slump prompted in part by an unexpectedly weak report on manufacturing in China. Concern that the Federal Reserve might ease back on its economic stimulus program sooner than expected had also riled ...
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REFILE-BRIEF-New York Co reports Q1 earnings per share $0.03
Thu May 23, 2013 4:46pm EDT May 23 (Reuters) - New York & Co Inc : * Announces first quarter 2013 EPS of $0.03 * Q1 earnings per share $0.03 * Q1 same store sales fell 2 percent * Q1 earnings per share view $-0.07 -- Thomson Reuters I/B/E/S * Q1 sales $227.5 million versus I/B/E/S view $216.8 million * Says expects positive low to mid single-digit comparable store sales for the second ...
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US STOCKS-Wall St sags but ends off session lows HP hits 52-wk high
Thu May 23, 2013 4:29pm EDT * HP jumps after raising 2013 outlook; stock touches 52-week high * Encouraging economic data help stocks retreat from lows * Investors fret about timing of Fed stimulus pullback * Dow off 0.1 pct; S&P off 0.3 pct; Nasdaq off 0.1 pct By Angela Moon NEW YORK, May 23 (Reuters) - U.S. stocks slipped on Thursday but finished sharply off their session lows as a rally in ...
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Shareholder adviser firm ISS paying $300K fine to settle charges of failing to protect clients voting info
WASHINGTON - A prominent firm in the business of advising big shareholders on how to vote in elections for company directors is paying a $300,000 fine to settle federal civil charges of failing to protect clients' confidential voting information.Institutional Shareholder Services agreed to the penalty in a settlement announced Thursday with the Securities and Exchange Commission. Its ...
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Big stores nix credit card settlement file suit
NEW YORK -- Some of the country's largest retailers, including Target Corp. and Macy's Inc., on Thursday filed a lawsuit against MasterCard and Visa, rejecting a settlement reached last year over alleged fee-fixing.A larger group of 19 trade associations and retail companies originally filed suit against the card processing companies in 2005, claiming that they conspired to fix the ...
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Nissan recalls Micras over steering problem
Nissan is recalling tens of thousands of its Micra cars in the UK after some drivers reported that the steering wheel became loose in their hands.The Japanese firm announced it was calling back 841,000 cars worldwide over the glitch, the company's third major recall in less than a year.In the UK, the recall applies to 133,869 Micras made between December 2002 and May 2006 at the ...
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Microsoft expands Windows Azure in Asia Pacific
Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Janet I. ...
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High street blight are pound shops better than empty shops
The north-west of England has the highest number of empty shop units in the UK, and as big retailers leave our town centres, the kind of businesses that thrive in hard times are moving in.Town centres across the region are becoming swamped with payday lenders, pawnbrokers and pound shops. As our high streets become increasingly geared towards making money from people who don't have any, ...
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Microsoft to deliver new Kinect for Windows sensor next year
Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Janet I. ...
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Apply Here Rust Belt Tempts Immigrants
Immigrants have long been drawn to the vitality and economic opportunity offered by New York, Los Angeles, and Silicon Valley. And if new immigrant legislation passes, those areas will reap the benefits of attracting educated entrepreneurs. But Rust Belt cities like St. Louis, Cincinnati, and Dayton, Ohio, don't have the same allure. The loss of manufacturing jobs and declining populations ...
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Kmarts New Ad Its a Gas
YouTube ad promotes a 30-cent savings per gallon of gas when you spend at least $50 at Kmart. The commercial is called "Big Gas Savings.. (Say the first two words out loud together quickly. Yep). Don't think we'll see this on TV, where no one watches commercials anymore anyway. Anyhow...everyone in the commercial says "big gas" in one way or another, none more so than ...
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Average 401 Up 75 Percent Since 09
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 accounts. Most of the recovery is linked to a stock market rally that has lifted the broad S&P 500 Index 145 percent since the close of trading ...
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Cautious calm returns to Wall Street
Source: Reuters Wall Street has been had mixed trading today, paring sharp early losses after disappointing data from China and a slump in Japanese stocks outweighed better-than-expected reports on US jobs and housing. In China, the preliminary reading for a Purchasing Managers' Index of manufacturing was 49.6 in May, according to HSBC and Markit Economics data. In Japan, the Topix ...
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Apple supplier Cirrus slumps as pricing pressure grows
Cirrus said in the filing it expects gross margins in the mid-40s. It did not indicate what period it was referring to and a spokesman did not immediately reply to a request for ...
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ChannelAdvisor soars in debut
(Reuters) - ChannelAdvisor Corp shares soared more than 40 percent in their market debut on Thursday as investors bet the e-commerce software company will benefit from the rapid global spread of online buying and ...
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Goldman Sachs banker settles SEC pay-to-play charges
WASHINGTON (Reuters) - Former Goldman Sachs banker Neil Morrison agreed to pay $100,000 to settle charges for his role in a pay-to-play scheme involving a Massachusetts gubernatorial campaign, the largest such penalty paid by an individual, the U.S. Securities and Exchange Commission said on ...
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SAC lawyers met with prosecutors to argue against charges sources
NEW YORK (Reuters) - Lawyers for SAC Capital Advisors called a meeting with U.S. prosecutors and FBI agents in April to argue that there should be no insider trading charges filed against the $15 billion hedge fund or its founder, Steven A. Cohen, according to sources familiar with the ...
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Icahn seeks up to $7 billion for Dell bid
Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange, in this June 27, 2007, file ...
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Pentagon sees slight drop in F-35 acquisition costs sources
Workers can be seen on the moving line and forward fuselage assembly areas for the F-35 Joint Strike Fighter at Lockheed Martin Corp's factory located in Fort Worth, Texas in this October 13, 2011 handout photo provided by Lockheed ...
Sydney Focus
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Sydney's scandalous toxic waste plan by government
A controversial waste relocation project in Sydney has created anger in a community with a lower income than the Sydney suburb from which the waste is being removed, with many suggesting a class-bias in the city government.
Hunter’s Hill is a predominantly wealthy suburb of Sydney with average house prices of around AUD $1.3 million and a harbour-side community made up predominantly of professionals, managers and other traditionally middle to high-income workers. Penrith, on the other hand, located just over 50 kilometres from Sydney’s CBD, is not as affluent, with average property values of around AUD $280,000. Read more
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