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Dalian Wanda Group to buy UK yacht maker and hotel property

Wed, 19 Jun 2013 17:45:23 -0400

LONDON - China's largest premier commercial property and entertainment conglomerate, Dalian Wanda Group Wednesday entered into 320million pounds definite acquisition deal with leading British yacht company, Sunseeker International Ltd, under which Wanda will acquire a majority shareholding of 91.81% in pre-eminent luxury motor yacht manufacturer. Under the agreement, the remaining 8.19% stake ...

Lundbeck and several drug firms fined for pact to delay generic drugs

Wed, 19 Jun 2013 17:13:25 -0400

BRUSSELS - European Union in its first case over pay-for-delay deals that held back sales of cheaper generic drugs Wednesday fined Danish pharmaceutical company Lundbeck 93.8 million euros and imposed fines totaling 52.2 million euros on several other producers of generic medicines. The European Commission, the EU's antitrust regulator, said the companies had reached agreements that may have ...

2.7 mn Jeeps to be recalled by Chrysler over concerns on fuel tanks

Wed, 19 Jun 2013 17:20:18 -0400

NEW YORK - Chrysler avoided a showdown with the US government by agreeing to recall 2.7 million Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions. Chrysler said it recognised the matter had raised concerns for customers The US company said it had resolved its differences with the National Highway Traffic Safety Administration (NHTSA). The recall affects ...

Settlement monitor faults four largest US mortgage servicers for lapses

Wed, 19 Jun 2013 17:19:27 -0400

WASHINGTON - Four of the largest U.S. mortgage servicers, including Citigroup Inc (C). and Bank of America Corp., have failed to adequately upgrade their treatment of customers in danger of foreclosure, according to a court-appointed monitor. Bank of America, Citigroup, JPMorgan Chase and Wells Fargo have failed to adhere to some of the new standards set out in a landmark settlement meant to ...

Spain urged to pursue further reforms to generate growth and jobs

Wed, 19 Jun 2013 17:10:52 -0400

MADRID - Spain risks high joblessness and sluggish growth for years unless its government together with Europe takes "urgent action' to generate growth and jobs, the International Monetary Fund stated Wednesday. "While there are signs the economic contraction may end soon, the outlook remains difficult," IMF said in its annual assessment of the Spanish economy. "But unemployment remains ...

House to vote on cuts to crop insurance as part of wide-ranging farm bill

Thu, 20 Jun 2013 04:14:37 -0400

WASHINGTON -- The House will vote Thursday on whether to cut federally-subsidized crop insurance that helps farmers when they lose crops or revenue. The amendment by Rep. Ron Kind, D-Wis., would limit government help for crop insurance paid to wealthy farmers and limit the subsidies the government gives crop insurance companies. A vote on the amendment is one of several expected on the ...

Microsoft makes u-turn on Xbox One features

Thu, 20 Jun 2013 04:13:12 -0400

Microsoft has reversed plans to implement a number of features on its upcoming Xbox One gaming console after a wave of criticism online. The company has initially suggested that the Xbox One could block the use of second-hand games, stopping users from trading in old games or swapping software with friends. Gamers also expressed distaste for a requirement that the console be connected to the ...

Xbox One U-turn - has Microsoft done enough

Thu, 20 Jun 2013 04:05:55 -0400

Microsoft has responded to global outcry by abandoning plans to require daily online authentication and to restrict sharing of games on its forthcoming Xbox One console. Xbox president, Don Mattrick, said the decision came after 'candid feedback' from gamers - there had been much outcry and talk of boycotting the console. However Microsoft did not move to address concerns over a price ...

BIS Government must match rhetoric with action on equal pay

Thu, 20 Jun 2013 04:05:50 -0400

Pay Act enshrined in law the principle that men and women doing the same or comparable work should be paid the same amount. Four decades on, we are still waiting for true ...

Where pampering pooches is providing business opportunities

Thu, 20 Jun 2013 04:05:49 -0400

In a climate of austerity, people may be resigned to curbing their spending on themselves, but they are not prepared to inflict the same frugality on their pets.According to the latest Mintel Pet Food and Supplies report, sales of dog food reached a record 1bn in 2012, a trend driven by growth in the nation's treat culture. Perhaps more tellingly, 66% of pet owners admitted to "treating ...

Live QA How to pitch to investors

Thu, 20 Jun 2013 04:05:47 -0400

It can be hard to work out what's important when planning a pitch - for example, how important is buying a new suit for the big day? Photograph: David Sillitoe for the ...

Shares slide after Bernanke hints at end to stimulus - live

Thu, 20 Jun 2013 04:05:46 -0400

The nine-month low raised new fears over the strength of China's economy, which already appeared to be losing some impetus. The flash HSBC Purchasing Managers' Index fell to 48.3 in June from May's final reading of 49.2, which means a sharper contraction in ...

Thursday Newspaper Review - Irish Business News and International Stories - - June 20 2013

Thu, 20 Jun 2013 04:05:15 -0400

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management ...

Microsoft rows back on Xbox One limits

Thu, 20 Jun 2013 04:01:18 -0400

Microsoft has rolled back a much-criticised requirement that its upcoming Xbox One gaming console be regularly connected to the internet, and made clear that there will be no limitations on sharing games.Microsoft has been criticised for vague statements about whether it will allow Xbox One buyers to play secondhand software. Gamers also expressed distaste for a requirement that the console be ...

Microsoft will pay you to successfully hack Windows

Thu, 20 Jun 2013 04:01:06 -0400

announces that it will be offering direct cash payments"in exchange for reporting certain types of vulnerabilities and exploitation techniques". No, Microsoft has not gone crazy (at least I hope). Companies usually offer such bounty programs for sane reasons -- security and publicity. From a security standpoint, it makes sense for Microsoft to invite people to hack its products. When a ...

European stocks dive at open

Thu, 20 Jun 2013 03:51:27 -0400

(25 mins ago) European stock markets fell sharply in opening deals, in line with a global retreat after the US Federal Reserve signalled it would wind down its massive quantitative easing stimulus programme later this year. In initial trading, London's benchmark FTSE 100 index slid 1.5 percent to 6,253.28 points, Frankfurt's DAX 30 dived 1.69 percent to 8,057.64 points and in Paris ...

Sony CEO asks for patience as shareholders press on spinoff plan

Thu, 20 Jun 2013 03:50:07 -0400

Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to ...

Japans Nomura cuts Australian jobs as banks trim costs

Thu, 20 Jun 2013 03:50:06 -0400

Nomura is removing duplication from its equities business after its acquisition of the Instinet trading platform, a source familiar with the process ...

UK watchdog details bank capital shortfalls

Thu, 20 Jun 2013 03:08:23 -0400

LONDON (Reuters) - Lloyds Bank has a capital shortfall of 8.6 billion pounds, Britain's banking regulator said on Thursday, a day after the UK government signalled plans to return the part-state owned lender to the private sector.The Prudential Regulation Authority said the aggregate capital shortfall at UK five banks at the end of 2012 was 27.1 billion pounds, slightly higher than its 25 ...

Deputized to provide clarity Bernanke explains Fed plan to scale back bond-buying program

Thu, 20 Jun 2013 03:06:14 -0400

WASHINGTON -- A muddled message from the Federal Reserve has rattled investors for weeks. So Chairman Ben Bernanke tried to set the record straight Wednesday about the Fed's plans to shrink its bond-buying program later this year and end it entirely in 2014 if the economy continues to improve. Wall Street didn't like the content of Bernanke's message -- investors dumped stocks ...

Prosecutors raid South Koreas nuclear operator as probe widens into fabricated test results

Thu, 20 Jun 2013 03:06:12 -0400

SEOUL, South Korea -- South Korea's sole nuclear operator says investigators raided its offices as part of a probe into nuclear plant cables. Korea Hydro & Nuclear Power Co. spokesman Lee Yoon-dong said Thursday prosecutors seized documents and computer hard drives from offices including its headquarters in southeastern Korea. Prosecutors could not be reached for comment. South Korea ...

AP PHOTOS For amputees wounds from Bangladesh garment factory collapse will never fade

Thu, 20 Jun 2013 03:06:11 -0400

SAVAR, Bangladesh -- It was the worst disaster in the history of the garment industry. When the Rana Plaza factory building crashed down in April, 1,129 people were killed. But many others had to sacrifice their limbs to survive. Arms and legs were trapped under the building rubble, forcing rescuers with no medical training to perform amputations on the spot to free the victims. No anesthesia ...

Chinese astronauts twirl gyroscopes strike kung fu poses in students lecture from space

Thu, 20 Jun 2013 03:06:10 -0400

BEIJING -- Astronauts struck floating martial arts poses, twirled gyroscopes and manipulated wobbling globes of water during a lecture Thursday from China's orbiting space station that's part of efforts to popularize the space program among young people. Wang Yaping demonstrated principles of weightlessness and took questions live from among the 330 grade school kids gathered at a ...

Currencies Dollar climbs in Fed’s wake extends gains vs. yen

Thu, 20 Jun 2013 03:00:10 -0400

LOS ANGELES (MarketWatch) -- The U.S. dollar climbed Thursday, building on gains after the U.S. Federal Reserve said it may slow the pace of bond purchases by the end of the ...

Futures Movers Oil prices struggle on energy demand Fed worries

Thu, 20 Jun 2013 03:00:09 -0400

LOS ANGELES (MarketWatch) -- U.S. crude-oil futures fell Thursday, as the market grappled with weak manufacturing-activity figures from China, an increase in U.S. oil supply and signaling by the Federal Reserve that a reduction in monetary stimulus is in ...

Energy Stocks Energy stocks turn lower after Fed decision

Thu, 20 Jun 2013 03:00:08 -0400

SAN FRANCISCO (MarketWatch) -- Energy stocks turned lower after U.S. Federal Reserve Chairman said the Fed tapering, or scaling back on bond buying, could begin later this year if the economy continues to ...

Wall Street drops on Fed news

Thu, 20 Jun 2013 02:58:27 -0400

Equities have been closely tethered to ultra-loose monetary policy, which has been key to the S&P's climb of more than 14 percent so far this year. Benchmark 10-year US bond yields jumped to a 15-month high on expectations the Fed will reduce its bond ...

Xbox One Microsoft U-turns on DRM restrictions after gamer outcry

Thu, 20 Jun 2013 02:57:15 -0400

Company responds to global outcry and removes daily online requirements and restrictions to pre-owned sales. Xbox president, Don Mattrick, thanks gamers for "candid ...

Boot up Microsoft Nokia acquisition talks iPhone passwords security YouTube ad revenues and more

Thu, 20 Jun 2013 02:57:10 -0400

Nokia Corp. about buying its handset business, people familiar with the matter said, as laggards in the fast-moving mobile market struggle to gain ground. The discussions faltered over price and worries about Nokia's slumping market position, among other issues, these people said. One of the people said talks took place as recently as this month but aren't likely to be ...

Prime central London property prices inflate bubble fears

Thu, 20 Jun 2013 02:57:02 -0400

now comfortably through the half-a-million pound mark, at 515,243 . It sounds a lot, but in some parts of the capital it is small change.Land Registry figures show the most expensive areas of the country - and those that have seen some of the biggest increases in prices - are the neighbourhoods that estate agents like to call "prime central London".The property boom in these places - ...

Chinas manufacturing PMI dips to nine-month low in June

Thu, 20 Jun 2013 02:56:28 -0400

China's manufacturing PMI (purchasing managers' index) dipped to a nine-month low in June as output and new orders both fell. As Beijing seeks to rebalance the economy from high spending on investment to consumer spending, it is faced by a glut in many manufacturing sectors as overcapacity has been boosted by big public subsidies to undercut the prices of Western ...

Irish Economy Average earnings rose slightly in 2012 after 3 straight years of falls

Thu, 20 Jun 2013 02:56:26 -0400

Irish Economy: Average earnings rose slightly in 2012 after 3 straight years of falls, figures from the Central Statistics Office issued on Wednesday, ...

Public will be offered shares in Lloyds Bank says George Osborne

Thu, 20 Jun 2013 02:44:19 -0400

The prospect of an eventual "tell Sid"-style sale of shares in Lloyds Bank was raised by George Osborne as he claimed Britain's economy had emerged from "intensive ...

Fate of Microsofts tablet OS in question -- again

Thu, 20 Jun 2013 02:44:02 -0400

(Credit: Microsoft) Reports that Windows RT is headed for the dustbin of failed Microsoft operating systems has become a month -- if not weekly -- ritual for Asia-based sources. This time ...

SandRidge ousts CEO Ward Bennett takes the helm

Thu, 20 Jun 2013 02:41:23 -0400

Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to ...

Kuwait Finance House says 20 percent capital increase oversubscribed

Thu, 20 Jun 2013 02:41:23 -0400

KFIN.KW ) (KFH), the Gulf Arab state's largest Islamic bank, said on Thursday its 20 percent capital increase had been oversubscribed by shareholders, without providing specific ...

Intrepid Mines board survives coup over lost Indonesia mine

Thu, 20 Jun 2013 02:41:22 -0400

IAU.AX ) backed their board and its attempt to reclaim rights to a $5 billion copper and gold project in Indonesia, defeating a plan by a private equity investor to oust the board on ...

Indonesian mine ownership disputes

Thu, 20 Jun 2013 02:38:15 -0400

Intrepid Mines is battling to win back an 80 percent stake in the Tujuh Bukit copper and gold project in Indonesia's East Java, where its partners sold its interest to powerful businessmen. It is the latest victim of ownership fights in Indonesia, a minerals-rich country that global group Transparency International ranked 118 out of 174 on perceptions of public corruption. Following are some ...

Alcoa Announces Completion of Aluminum Lithium Capacity Expansion at UK Facility

Thu, 20 Jun 2013 02:26:42 -0400

Alcoa today announced it has completed the expansion of aluminum lithium capacity at its Kitts Green facility in the United Kingdom to serve the growing demand for the Company’s 3rd generation aluminum lithium alloys. Alcoa projects its aluminum lithium revenues will quadruple over the next six years to nearly $200 ...

Sony chief says time needed to study proposal from US hedge fund promises investors revival

Thu, 20 Jun 2013 01:53:30 -0400

TOKYO -- Sony Corp. needs more time to study a key proposal from a U.S. hedge fund to spin off a part of its entertainment unit as a way to propel its fledgling revival, the chief executive told shareholders Thursday. Sony Chief Executive Kazuo Hirai was speaking to a Tokyo hall packed with thousands of investors for an annual general shareholders' meeting, where the proposal from Third ...

Diddy is downright Revolt-ing on TWC

Thu, 20 Jun 2013 01:50:24 -0400

"P. Diddy" and Time Warner Cable CEO Glenn Britt get down on the news that the cable giant will be carrying the rapper’s new channel. Revolt’s new distribution deal with TWC is a boost to its efforts to get advertisers on board with the music-themed channel. "It is rare in this time to be able to get carriage and to get a company as prestigious as Time Warner to believe ...

Irish Economy 2013 Bad loans ratio at 25 in Ireland and Greece 11 in Spain

Thu, 20 Jun 2013 01:45:04 -0400

Irish Economy 2013: Bad loans ratio at 25% in Ireland and Greece; 11% in Spain By Michael Hennigan, Finfacts founder and editor Jun 20, 2013 - 6:22 AM ...

Asia assets hammered on China fears Fed upset

Thu, 20 Jun 2013 01:27:47 -0400

TOKYO/SYDNEY (Reuters) - Asian markets buckled badly on Thursday after the Federal Reserve heralded an eventual end to free money and China turned the screw on credit even as factory activity in the world's second largest economy hit a nine-month ...

SNB welcomes UBS Credit Suisse capital steps warns on housing market

Thu, 20 Jun 2013 01:27:47 -0400

"Over the past year, the Swiss big banks have substantially increased their risk-weighted capital ratios," the SNB said in its annual financial stability report published on ...

Micron calls change hands at a clip ahead of earnings after the close

Thu, 20 Jun 2013 01:25:15 -0400

MU - Micron Technology, Inc. - Options traders appear to be snapping up out of the money call options on Micron Technology this morning ahead of the company's third-quarter earnings report after the closing bell today. Shares in the name kicked off the trading session in rally mode, rising as much as 2.6% to a six-year high of $14.11 in the early going, but have since turned negative to ...

The Asian stock markets plunged in line with the US markets

Thu, 20 Jun 2013 01:25:14 -0400

The appetite for risk remained subdued in the Far East after imploding late Wednesday, when the Federal Reserve maintained its bond-buying program, but Chairman Ben Bernanke hinted that the FOMC plans to moderate purchases later this year. The foreign currencies remain under pressure after tanking. The Asian stock markets plunged in line with the US markets. The short-term outlook for the foreign ...

The community college payoff New site reveals earnings of California graduates by program

Thu, 20 Jun 2013 01:25:03 -0400

California's community colleges have published the median earnings of graduates who went straight into the workforce after earning a certificate or associate degree -- pay that varies widely by the field of study.Students interested in studying dramatic arts, for instance, can check the college system's Salary Surfer website and see the median earnings of degree holders were just ...

Wipro shares gain on Citigroup order win

Thu, 20 Jun 2013 01:20:38 -0400

Citigroup . According to reports, the tenure of the contract is five years. As a part of the contract, Wipro will be responsible for application development and maintenance, as well as providing IMS services, for Citi's global operations. The contract also requires Wipro to set up a large offshore delivery centre in Bangalore. The large contract comes at a time when ...

Emeco cuts earnings forecast again

Thu, 20 Jun 2013 00:49:35 -0400

Shares in mining equipment supplier Emeco Holdings have fallen sharply today to a four-and-a-half year low after the company downgraded its profit forecast for the second time in two months. The company said it expects to report an operating profit after tax in the range of $35 to $36 million, for the year to June ...

Minnesota Poll Confidence in personal finances up sharply

Thu, 20 Jun 2013 00:46:11 -0400

A new Minnesota Poll shows that 61 percent of Minnesotans rated their financial situation as good or excellent in June, a huge jump from February, when 45 percent gave their finances positive marks. An additional 29 percent rated their finances as fair, while 8 percent said their finances are ...

$1000 genome a mirage

Thu, 20 Jun 2013 00:45:42 -0400

Years of talk about cutting the price of sequencing a human genome to $1,000 has made one prominent genomics guru more than a little cranky. Mick ...

2 3Ds now 1 Stratasys buys MakerBot

Thu, 20 Jun 2013 00:43:00 -0400

Brooklyn-based MakerBot hit the jackpot.The 3D-printer maker, which just opened fancy waterfront industrial digs, was acquired by another giant in the industry, Stratasys.MakerBot, co-founded by Bre Pettis, sold for more than $400 million. Stratasys is paying for the merger by issuing 4.76 million new shares.The deal includes incentives for another $200 million in earn-outs.MakerBot, which is one ...

Morgans urged to sell out

Thu, 20 Jun 2013 00:43:00 -0400

It’s baptism by fire for the new board of Morgans Hotel.A shareholder in the 13-unit hotel chain is expected today to urge the newbie board - on the job for less than a week - to put the company on the block, The Post has learned.Manhattan hedge fund Kerrisdale Capital will also announce it has amassed a 4.3 percent stake in Morgans, owner of the Mondrian Soho and the Delano in ...

Metals Stocks Gold prices drop as Fed signals stimulus slowdown

Thu, 20 Jun 2013 00:41:29 -0400

LOS ANGELES (MarketWatch) -- Gold futures dropped Thursday, stung after the Federal Reserve signaled that it may reduce the amount of monetary stimulus it provides as early as this ...

Asian stocks down as Fed sees slower bond buys

Thu, 20 Jun 2013 00:40:44 -0400

A visitor is seen at Tokyo Stock Exchange during a morning trading in Tokyo Monday, June 17, 2013. Asian stocks edged up Monday amid hopes that the U.S. Federal Reserve will put off plans to wind down its stimulus program. Tokyo's Nikkei 225, the regional heavyweight, jumped 2.2 percent to 12,960.81, extending Friday's 2.4 percent ...

Britain France face EU action over high Eurostar charges

Thu, 20 Jun 2013 00:22:22 -0400

Four members of the Scot's Guards pose for a photograph next to a new Eurostar train, during a media event, in central London, October 7, ...

Microsoft Reverses Decision to Impose Restrictions on Used Games for Xbox One

Thu, 20 Jun 2013 00:19:08 -0400

E3: Xbox One to Launch in November for $499 Last week at E3, Microsoft had said it would put restrictions in place to limit the sale of used games for Xbox One. Later that same day, Sony received enthusiastic applause at its press conference when, in previewing its competing PlayStation 4, it said it would instead allow players to lend, trade or resell used disc-based games as they choose. ...

Coca-Cola names Lucie Austins replacement

Thu, 20 Jun 2013 00:18:15 -0400

Coca-Cola South Pacific has recruited Chris Johnston to fill the shoes of award-winning marketer Lucie Austin. Johnston has been with Coca-Cola in various roles since 2002 according to his LinkedIn profile. Coke Zero, Coke Red and Diet Coke now fall under his remit as do Fanta, Glaceau Vitamin Water and a team of 50. Austin was behind ‘Share a Coke’, which Coca-Cola’s ...

Sub sandwich chain Jersey Mikes plans Twin Cities takeover

Wed, 19 Jun 2013 23:41:17 -0400

Jersey Mike’s, a chain of East-Coast-style sandwich shops, plans to open about 10 new stores in the Twin Cities in the next year and a half. Eventually, the plan is to have 50 locations here, area franchisee John Griparis ...

Dakotas are wooing Minnesota workers companies

Wed, 19 Jun 2013 23:41:16 -0400

The states are appealing directly to workers and businesses in Minnesota, asking them to head for the border. This spring, when Minnesota lawmakers hiked the cigarette tax, created a higher top-tier individual income tax and expanded the sales tax to a handful of industries, a fresh round of interstate wooing ...

Megaupload founder Kim Dotcom in tears after European firm deletes files from shuttered site

Wed, 19 Jun 2013 23:41:14 -0400

WELLINGTON, New Zealand -- Megaupload founder Kim Dotcom said Thursday he was "in tears" after a European company deleted all the data it was hosting from his shuttered file-sharing site. Netherlands-based LeaseWeb announced it had deleted all Megaupload files from 630 servers. LeaseWeb said in a statement it hosted the data for over a year at its own expense without receiving any ...

Bernanke No big interest rate hikes coming soon

Wed, 19 Jun 2013 23:40:40 -0400

Ben Bernanke appeared nervous and took frequent sips of water, but the world's most powerful central banker tried to be loud and clear at a Wednesday news conference: Everybody can relax, because there's almost no way the Federal Reserve is going to crank up interest rates anytime ...

Some gamers mourn Microsofts Xbox One DRM reversal

Wed, 19 Jun 2013 23:30:49 -0400

IDG News Service - There was a largely euphoric reaction online in the hours after Microsoft reversed its policies for the upcoming Xbox One game console, which had restricted resales of used games and required a constant Internet connection. A ...

Tips Every Car Owner Should Know

Wed, 19 Jun 2013 23:10:22 -0400

You don't have to know that much about cars, as long as you know the rules of car repair. Here are some key pieces of knowledge that will smooth your ...

Goodyear Responds to ABCs The Lookouts Report Undercover Mechanic

Wed, 19 Jun 2013 23:10:21 -0400

Jun 19, 2013 10:00pm ABC’s The Lookout went undercover to Goodyear’s Commack, N.Y. location. Here is the company’s response to our ...

Wall St dips more than 1 after Fed hints at slowing bond buying

Wed, 19 Jun 2013 23:10:09 -0400

US stocks are closing sharply lower and bond yields are rising after Fed Chairman Ben Bernanke said the central bank could slow its massive bond purchases this ...

REPEAT-GLOBAL MARKETS-Asian stocks tumble on weak China PMI Fed policy plan

Wed, 19 Jun 2013 23:03:09 -0400

Wed Jun 19, 2013 11:03pm EDT * MSCI Asia ex-Japan slides 2.8 pct to 9-month low * U.S. Treasury yields hit 15-mth high, underpin dollar * China "flash" PMI hit 9-month lows * Asian credit market spreads widen 23 points By Chikako Mogi TOKYO, June 20 (Reuters) - Asian shares tumbled to nine-month lows on Thursday as slowing Chinese manufacturing activity exacerbated sentiment already ...

Voices from Brazils protests

Wed, 19 Jun 2013 22:34:28 -0400

Some comments by Brazilians participating in protests across South America's biggest country: ___ "I'm here because I depend on public transportation which is terrible. Public transportation should not be for profit. I'm here to say we need better buses and better service." -- Maira Zenon, graphic designer, 27, attending protest in Brasilia. ___ "We're out ...

NY Kodak commits to keeping some operations in Rochester providing $49M for cleanup

Wed, 19 Jun 2013 22:34:24 -0400

ROCHESTER, N.Y. -- New York state and Eastman Kodak Co. have reached a deal that will keep some of the troubled company's operations in Rochester and provide $49 million for environmental cleanup at the once bustling Eastman Business Park. Local media outlets report Wednesday that Kodak will keep advanced manufacturing and its research center at the 1,200-acre site and lease property there ...

Federal Reserve policymaking group has power over economy through control of interest rates

Wed, 19 Jun 2013 22:34:22 -0400

The Federal Reserve's chief policymaking group, the Federal Open Market Committee, has vast power over the economy through its ability to set monetary policy. Here is a look at how the FOMC operates. Q: What is the FOMC's primary role? A: Its mission is to keep the economy, inflation and employment on a healthy track. When the economy weakens, Fed policymakers cut interest rates or ...

Digital River to help Adobe sell subscription software

Wed, 19 Jun 2013 22:34:21 -0400

E-commerce firm Digital River Inc. has expanded its sales relationship with Adobe Systems to include marketing subscriptions to Adobe’s cloud-based desktop PC software in 19 areas ...

Business briefs Dish drops offer for Sprint turns to Clearwire

Wed, 19 Jun 2013 22:34:20 -0400

Dish Network said it was "impracticable" to make a new offer for Sprint Nextel by the mobile-phone carrier's deadline, leaving Softbank as the main contender to acquire the wireless company. Sprint's actions "have made it impracticable for Dish to submit a revised offer by the June 18th deadline," Englewood, Colo.-based Dish said in a statement. "We will ...

Alzheimers compound repairs damaged neurons

Wed, 19 Jun 2013 22:33:48 -0400

Brain cells harmed by Alzheimer's disease can be repaired by a newly invented compound, according to a study led by Sanford-Burnham Medical Research Institute scientists. The compound, called NitroMemantine, is ready for human clinical trials, said Stuart A. Lipton, the Sanford-Burnham scientist who headed the ...

Japanese Market Tumbles On Wall Street Lead

Wed, 19 Jun 2013 22:32:57 -0400

Stocks tumbled in early trades in the Japanese market on Thursday, with investors indulging in some heavy selling following Wall Street's weak close overnight on the back of a negative reaction to the Fed's statement about an end to its asset purchase program by mid-2014.However, with some front line stocks bouncing back on strong support at lower levels, the market regained some lost ...

US stocks trade nearly flat before FOMC announcement

Wed, 19 Jun 2013 22:26:17 -0400

US stocks traded nearly flat in midday Wednesday after a wobbly morning session, as investors stayed on the sidelines before the release of the Federal Open Markets Committee's (FOMC) policy meeting announcement this afternoon.With no major US data due on Wednesday, all eyes are on the announcement and what Fed Chairman Ben Bernanke would say in his press conference for any hint of a ...

Microsoft retreats on rules for

Wed, 19 Jun 2013 22:23:41 -0400

The Xbox One will not require a regular Internet connection. Gamers will continue to be able to use, trade, sell or loan their games just as they have been on earlier versions. Those announcements, made Wednesday, represent a reversal for Microsoft on two key decisions about its upcoming Xbox One console that had infuriated many gamers. "Since unveiling our plans for Xbox One, my team and ...

China June Flash HSBC PMI Falls to 9-Month Low

Wed, 19 Jun 2013 22:23:35 -0400

Activity in China's vast factory sector decelerated further in June, a private survey of Chinese manufacturers showed on Thursday. The closely-watched flash estimate of the HSBC China purchasing manager's index (PMI) fell to a nine-month low of 48.3, worse than ...

Ex-Citigroup exec Froman becomes US trade rep

Wed, 19 Jun 2013 22:12:47 -0400

(14 mins ago) The US Senate confirmed White House adviser Michael Froman as the new US trade representative, just as Washington launches free trade talks with the European Union. Froman is a former managing director at Citigroup, which received a US$45 billion government rescue package in 2008 during the financial crisis, and his tenure at the too-big-to-fail bank has raised eyebrows. Some key ...

Rockets Lazada gets $100 million in bid to be Southeast Asias Amazon

Wed, 19 Jun 2013 22:10:57 -0400

(Reuters) - Lazada, the Southeast Asian online retail company founded by Germany's Rocket Internet Gmbh, has secured another $100 million from investors in its bid to lift the region from its status as an e-commerce ...

Sony to consider Third Points proposal Sony CEO Hirai

Wed, 19 Jun 2013 22:10:57 -0400

Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to ...

Euro ministers to decide direct bank recapitalization rules on Thursday

Wed, 19 Jun 2013 22:10:56 -0400

BRUSSELS (Reuters) - Euro zone finance ministers will decide on Thursday when and how their bailout fund can invest in a bank to save it from failure, laying a cornerstone of the banking union seen as vital to restore economic ...

Report Medtronics DF4 defibrillator wire fractured

Wed, 19 Jun 2013 21:28:48 -0400

Medtronic Inc. DF4 defibrillator wire used to connect the lifesaving device to the heart inexplicably fractured after 18 months in a 52-year-old man, raising questions about how quickly doctors should embrace new technology, researchers ...

More industries becoming data-driven

Wed, 19 Jun 2013 21:28:46 -0400

The story is the same in one field after another, in science, politics, crime prevention, public health, sports and industries as varied as energy and advertising. All are being transformed by data-driven discovery and decisionmaking. The pioneering consumer Internet companies, like Google, Facebook and Amazon, were just the start, experts say. Today, data tools and techniques are used for tasks ...

Pinnacle Airlines changing name to Endeavor Air

Wed, 19 Jun 2013 21:28:43 -0400

"We're going through the steps necessary to prepare for the change on official government and regulatory documents, thus the Aug. 1 date," said Pinnacle spokesman Joe Williams in an interview ...

Senate confirms White House aide Froman to be next trade representative

Wed, 19 Jun 2013 21:28:42 -0400

WASHINGTON -- Senior White House economic adviser Michael Froman has been confirmed by the Senate to be the next U.S. trade representative. The law school classmate of President Barack Obama takes over the post as the administration seeks to advance major trade deals with Pacific Rim and European nations. The Senate vote was 93-4 to confirm Froman to succeed Ron Kirk, the former Dallas mayor ...

Bridgepoint Education seeks to cut staff

Wed, 19 Jun 2013 21:28:12 -0400

San Diego's Bridgepoint Education launched a voluntary buyout program last week to cut staff on the eve of a critical accreditation decision for company-owned Ashford ...

Illumina ordered to pay $115 million in patent case

Wed, 19 Jun 2013 21:28:12 -0400

SAN DIEGO -; DNA sequencing giant Illumina has been ordered by a federal court to pay Auburn, Wash.-based Syntrix Biosystems $115.1 million in a patent infringement ...

Want to entice hotel guests Try birds paragliding

Wed, 19 Jun 2013 21:28:11 -0400

Well aware that travelers have an almost limitless choice for where they'll lay their heads down at night, hotels and resorts in San Diego County are stepping up their game to entice visitors to choose them for an overnight ...

James Gandolfini star of The Sopranos dies in Italy

Wed, 19 Jun 2013 21:15:21 -0400

The Sopranos ," died on Wednesday while vacationing in Rome, the network said. Gandolfini, 51, who began his career in theater in New York, making his Broadway debut in a 1992 revival of "A Streetcar Named Desire," died of a ...

Microsoft has no plans to revisit Xbox Ones $499 price

Wed, 19 Jun 2013 21:09:07 -0400

Even as the company backtracks on its unpopular game-sharing policy, a company executive tells CNET that it won't budge on the price for the console, some $100 more than the rival PlayStation ...

John McAfee resurfaces as ranting video star mocks McAfee software

Wed, 19 Jun 2013 21:06:16 -0400

John Mcafee, anti-virus software guru, arrives for a news conference outside of the Supreme Court of Justice in Guatemala City, December 4, ...

George Osborne readies City for Lloyds sell-off

Wed, 19 Jun 2013 21:03:34 -0400

Royal Bank of Scotland , in a move that could delay the bailed-out bank's return to the private sector.In his annual speech to City grandees at Mansion House on Wednesday night, the chancellor said he was "actively considering options for share sales in Lloyds", in which the government has a 39% stake. Speculation is mounting that a partial sell-off of the state's Lloyds stake ...

GLOBAL MARKETS-Asian stocks fall on Bernanke comments China data eyed

Wed, 19 Jun 2013 20:33:51 -0400

Wed Jun 19, 2013 8:33pm EDT * MSCI Asia ex-Japan slips 1.2 pct, Nikkei opens down 1.1 pct * Rising U.S. Treasury yields to underpin dollar * China PMI eyed By Chikako Mogi TOKYO, June 20 (Reuters) - Asian shares tracked the overnight drop in U.S. equities after U.S. Federal Reserve Chairman Ben Bernanke confirmed market fears that the Fed would begin reducing its stimulus later this year as the ...

Nation’s biggest mortgage lenders failing terms of settlement

Wed, 19 Jun 2013 20:23:33 -0400

The nation’s five biggest mortgage lenders have largely satisfied their financial obligations under last year’s $25 billion settlement over mortgage abuses, helping hundreds of thousands of families keep their homes. But four of the five have yet to meet their commitment to end the maze of frustrations that borrowers must navigate to modify their loans, according to a report Wednesday ...

Kentucky leaders Urban Outfitters wont sell shot glasses flasks that look like pill bottles

Wed, 19 Jun 2013 20:23:32 -0400

FRANKFORT, Ky. -- Retailer Urban Outfitters Inc. has responded to a multi-state campaign and stopped selling flasks, shot glasses and pint glasses that look like prescription pill bottles, political leaders in drug-plagued Kentucky said Wednesday. The state's top leaders, including Gov. Steve Beshear and Republican U.S. Rep. Hal Rogers, chairman of the powerful House Appropriations ...

Kim Thompson co-publisher of Fantagraphics Books dies

Wed, 19 Jun 2013 20:23:31 -0400

SEATTLE -- Kim Thompson, co-publisher of influential Seattle-based publisher Fantagraphics Books -- known for celebrated alternative comics, graphic novels and comic strip anthologies -- has died. Fantagraphics announced Thompson's death Wednesday, four months after he was diagnosed with lung cancer. He was 56. Fantagraphics Books has been publishing alternative comics and graphic novels ...

MediciNova gains 31 percent

Wed, 19 Jun 2013 20:22:59 -0400

I wrote about MediciNova yesterday . Today the market reacted to the news of positive preliminary clinical data for its drug ibudilast, being tested for methamphetamine addiction. Shares of MediciNova surged 31 percent Wednesday, closing at $3.37, up 80 cents for the ...

North-south negative equity divide widening

Wed, 19 Jun 2013 20:15:32 -0400

Ratings agency S&P says that 13.5% of mortgage borrowers in north-west England are in negative equity, against 0.9% in London and the ...

Facebook May Cash In on Vine-Like Vids

Wed, 19 Jun 2013 20:13:00 -0400

Facebook's Instagram May Be Getting Videos Soon ) The social network is hosting a press event at its headquarters Thursday. While Facebook hasn't confirmed what product it will be previewing, it's widely thought that the company will announce a video function for its photo-sharing app Instagram .The video addition is suspected to be similar to Twitter's Vine, a video-sharing ...

After the Fed—Whats the Markets Next Move

Wed, 19 Jun 2013 20:13:00 -0400

stocks spiraling downward, as the markets adjusted to the idea of a higher rate environment. The 10-year yield reached 2.35 percent, its highest level since March, 2012. The Dow fell 206 points to 15,112 and the S&P 500 was off 22 to ...

Fed economic statement drives fall on Wall Street

Wed, 19 Jun 2013 20:10:57 -0400

Australia Comments by the chairman of the US Federal Reserve have driven a sharp fall on Wall Street overnight.After the Fed issued its eagerly awaited policy statement, giving an upbeat assessment of the US economy and the labour market, Ben Bernanke said during a press conference that the central bank's stimulus measures may be scaled back later this year.He said the bond-buying program, ...

Microsoft backtracks on Xbox One online games policies

Wed, 19 Jun 2013 20:08:23 -0400

Microsoft is pressing reset on policies related to its Xbox One video game console.The company announced it is dropping two major features of its next-generation console: regular online authenticity checks required to play video games offline and restrictions on what players can do with games after ...

Ex-Kleiner partner wants day in court in discrimination lawsuit

Wed, 19 Jun 2013 20:01:01 -0400

SAN FRANCISCO (Reuters) - A high profile sex discrimination lawsuit in Silicon Valley should be taken private via arbitration, lawyers for venture capital firm Kleiner Perkins Caufield & Byers argued on Wednesday, but the plaintiff, former partner Ellen Pao, wants the chance to tell her story before a ...

Sony spin-off plan off agenda but looms over shareholder meet

Wed, 19 Jun 2013 20:01:01 -0400

BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new ...

Analysis Sprint should raise Clearwire bid to avoid Dish tension

Wed, 19 Jun 2013 20:01:00 -0400

NEW YORK (Reuters) - Sprint Nextel Corp should consider raising its offer price for Clearwire Corp or risk being saddled with a contentious relationship with Dish Network Corp, controlled by feisty billionaire Charlie ...

New bookkeeping rule to priprizese open insurers black box accounts

Wed, 19 Jun 2013 20:01:00 -0400

LONDON (Reuters) - An international bookkeeping regime being unveiled on Thursday will iron out national variants in insurers' "black box" balance sheets although the transition will take several years and the United States will keep its own, very different ...

Report Microsoft and Nokia talked acquisition but no dice

Wed, 19 Jun 2013 20:00:31 -0400

Microsoft and cellphone maker Nokia were in advanced talks about an acquisition of the Finnish company's device business, but the discussions have broken down, according to a report in The Wall Street Journal. Such a deal might have improved both companies' ability to compete in a world dominated by smartphones offered by Apple, which makes both hardware and software, and by Google, ...

Kodak will keep some ops in Rochester

Wed, 19 Jun 2013 20:00:12 -0400

NEW York state and Eastman Kodak Co have reached a deal that will keep some of the troubled company's operations in Rochester and provide $US49 million ($A53.07 million) for environmental cleanup at the once bustling Eastman Business ...

Video Federal Reserve raises its predictions for growth and jobs

Wed, 19 Jun 2013 19:56:03 -0400

Ben Bernanke said the economy is doing well enough that the Federal Reserve is likely to ease back on a bond-buying program that has kept interest rates at record-low rates. The prospect of higher interest rates sent the Dow down more than 200 points. Anthony Mason ...

Xbox One Eighty Microsoft fails to sell the future retreats to the past

Wed, 19 Jun 2013 19:55:09 -0400

Some day, far down the road, we'll be sitting with our grandchildren at our feet, rocking in our holochair, watching the virtual sun set in our Googlezon immersi-room, and we'll get all nostalgic. We'll look back on the period of May to June 2013 fondly, remembering all those memes we posted and those angry diatribes we wrote. We'll look down fondly at those tiny children, ...

Photos 7 of the Biggest Celebrity Pets Around

Wed, 19 Jun 2013 19:54:59 -0400

These furry pets have the world in their paws. From movie deals to brand sponsorships and book deals, these animals are taking center stage and represent a new world of pet ...

US stocks tumble on Fed announcement

Wed, 19 Jun 2013 19:22:21 -0400

US stocks have fallen sharply after Federal Reserve chairman Ben Bernanke said the Fed may begin to taper bond purchases later this year. The Dow Jones Industrial Average sank 206.04 (1.35 per cent) to ...

Microsoft mulled buying Nokia unit

Wed, 19 Jun 2013 19:20:49 -0400

SAN FRANCISCO (AFP) - Microsoft was in talks to boost its position in the mobile phone market by buying the devices business from Nokia but failed to seal a deal, the Wall Street Journal reported Wednesday.The Journal cited unnamed sources as saying the US technology titan and the pioneering Finnish mobile phone company were involved in serious talks that recently faltered.Microsoft has been ...

Stocks slide and Treasury yields spike after Bernanke says Fed could slow its bond purchases

Wed, 19 Jun 2013 19:18:58 -0400

NEW YORK -- Financial markets shuddered Wednesday after the Federal Reserve said it could start scaling back its huge economic stimulus program later this year and end it by the middle of 2014. The reaction by investors -- the Dow Jones industrial average fell more than 200 points and the yield on the 10-year Treasury note rose to its highest in 15 months -- showed just how much investors have ...

Obama to tap executive powers to curb emissions blamed for global warming

Wed, 19 Jun 2013 19:18:57 -0400

WASHINGTON -- President Barack Obama is planning a major push using executive powers to tackle the pollution blamed for global warming in an effort to make good on promises he made at the start of his second term. Obama's energy and climate adviser, Heather Zichal, said Wednesday the plan would boost energy efficiency of appliances and buildings, expand renewable energy and use the ...

Merging OfficeMax Office Depot want Ill. and Fla. to vie for combined HQ though tax breaks

Wed, 19 Jun 2013 19:18:56 -0400

CHAMPAIGN, Ill. -- OfficeMax Inc. and Office Depot Inc. want Illinois and Florida to compete to be the home of their combined headquarters if their proposed merger is approved by offering the best package of tax breaks that they can. Naperville-based OfficeMax made its pitch to Illinois lawmakers Tuesday when executives testified before a state Senate Executive Committee hearing in Springfield. ...

Porsche GMC top annual survey of vehicle quality but results dragged down by tech features

Wed, 19 Jun 2013 19:18:54 -0400

DETROIT -- Car buyers increasingly want high-tech features like voice recognition and navigation. But they're not very forgiving of the car company when those systems fail. The top complaints in J.D. Power's closely-watched survey of new vehicle owners, released Wednesday, involved technologies that drivers are clamoring for. Voice recognition systems either didn't recognize ...

Woody Harrelson behind company making environmentally friendly paper that saves virgin trees

Wed, 19 Jun 2013 19:18:52 -0400

LOS ANGELES -- Woody Harrelson is putting his paper where his passions are. The 51-year-old actor is the co-founder of Prairie Pulp & Paper Inc., which launched its brand of environmentally friendly paper Wednesday. The company spent 15 years researching and developing its Step Forward Paper. It's made of wheat-straw waste and wood fiber rather than virgin trees. The company says ...

Microsoft Responds To Fan Outcry Changes Xbox One Policies

Wed, 19 Jun 2013 19:15:34 -0400

Don Mattrick, president of Interactive Entertainment Business at Microsoft, greets the crowd at the Xbox One reveal event in Redmond, Wash., last ...

Microsoft Says XBox is no Big Brother

Wed, 19 Jun 2013 19:12:51 -0400

Microsoft manager Marc Whitten doesn't think a lot of the recent criticisms from data security advocates about Microsoft's new XBox One gaming console are fair. "The player controls the system, not the other way around," says the man who has become known as the Father of the XBox One, speaking to dpa on the sidelines of the E3 gaming convention in Los Angeles. Critics ...

Long-term transport plan urgently needed say engineers

Wed, 19 Jun 2013 19:11:10 -0400

Engineers have warned that a lack of strategy, patchy maintenance and uncertain funding is undermining Britain's infrastructure, and have called for an independent commission to create a long-term transport plan.The Institution of Civil Engineers (ICE) said that the short-term political cycle and spending decisions were leaving necessary work undone and delaying big projects.ICE said urgent, ...

Mervyn King goodbye to the governor | Editorial

Wed, 19 Jun 2013 19:11:09 -0400

Bank of England governor steps down at the end of this month. Unsurprisingly, Sir Mervyn's recent interventions have had a allowable tinge of sepia. Yesterday's address was no different. "A game of two halves," ran a trademark sporting metaphor. "Full of incident, with a red card or two and a passionate and at times justifiably angry crowd."A better summary might be ...

Oddworld Inhabitants Founder Lorne Lanning Believes Microsoft Will Right Xbox One Ship

Wed, 19 Jun 2013 19:10:39 -0400

Lorne Lanning, founder of Oddworld Inhabitants, launched Oddworld: Abe's Oddysee on Sony PlayStation in 1997. After developing a sequel for Sony and publisher GT Interactive, Oddworld: Abe's Exodus in 1998, the independent developer opted for Microsoft's Xbox platform with Oddworld: Munch's Oddysee in 2001. Lanning found himself back in Sony's camp, on the stage during E3 ...

Wall Streets Taper Dance

Wed, 19 Jun 2013 19:08:40 -0400

Taper, taper, taper! You know you're doing it. It's the newest dance craze among the Fed-obsessed on Wall Street who hang on to every single word uttered by the Chairman. Gyrating wildly not knowing if the central bank would relax its quantitative easing or not, traders have been doing the taper twist and turn for what feels like weeks.Wednesday - finally - The ...

Taco Bell Tries New Protein-Packed Menu

Wed, 19 Jun 2013 19:08:40 -0400

Taco Bell plans to test a "Power Protein" menu that it's hoping will eventually be hit with its core audience --young men. The chain says it will start testing the menu July 25 at about 40 locations in Dayton, Ohio. The burritos and bowls will have double portions of chicken or steak, and toppings such as corn, guacamole and reduced fat sour cream. They'll be made with ...

New York to Get Vegas-Style Casinos

Wed, 19 Jun 2013 19:08:40 -0400

The agreement will allow Las Vegas-style resort casinos in the Southern Tier near Binghamton, the Hudson Valley-Catskills area and the Albany area. One region may get two casinos and that will likely be in the Catskills, which has a tradition of resort development. The deal also authorizes two video slot centers of 1,000 machines each on Long Island run by the off-track betting agencies of ...

Jeffrey Katzenberg Scales Up DreamWorks

Wed, 19 Jun 2013 19:08:39 -0400

CNBC's Julia Boorstin speaks to DreamWorks Animation CEO Jeffrey Katzenberg about the company's partnership with the Chinese government and its deal with ...

NY State to privatize Long Island utility freeze rates Governor Cuomo

Wed, 19 Jun 2013 18:55:45 -0400

NEW YORK (Reuters) - New York lawmakers announced a deal on Wednesday to privatize utility operations on Long Island and revamp the Long Island Power Authority, a state-owned New York utility company that was criticized for its response during last year's Superstorm ...

Ally deal draws limited objections from ResCap creditors

Wed, 19 Jun 2013 18:55:45 -0400

(Reuters) - Ally Financial Inc's proposed $2.1 billion agreement reached last month with creditors of its bankrupt Residential Capital LLC subsidiary cleared a key court deadline with only one vigorous objection, though several warning shots were ...

UPDATE 1-Microsoft reverses position on Xbox One Internet game sharing

Wed, 19 Jun 2013 18:55:17 -0400

Wed Jun 19, 2013 6:55pm EDT SEATTLE, June 19 (Reuters) - Microsoft Corp said on Wednesday that users of its forthcoming Xbox One game console will be able to play games offline without establishing an Internet connection, and will be able to lend or sell used disc-based games. The announcement reverses the company's position when it unveiled the console in May, causing consternation among ...

Warnings of REITs demise may be premature

Wed, 19 Jun 2013 18:51:34 -0400

The old adage that opportunity arises from adversity seems apt for the evolution of real estate investment trusts (REITs) in Canada. Marking a 20-year milestone this month, the collective real estate ownership investments have evolved into a market with at least 37 TSX-listed trusts, a market capitalization worth at least $72-billion, and assets worth more than $100-billion. Despite a recent ...

Quebec sets two-week deadline for construction strike

Wed, 19 Jun 2013 18:51:32 -0400

MONTREAL - The Quebec government has set an informal two-week deadline to resolve the province’s construction sector strike as reports surface of union brigades pressing non-unionized workers to put down their tools. ';If, in two weeks, no agreement has been reached, at a certain point we’ll have to take more drastic action,'; Premier Pauline Marois told reporters ...

UPDATE 2-Britain to look at RBS split start Lloyds sale soon

Wed, 19 Jun 2013 18:48:02 -0400

Wed Jun 19, 2013 6:48pm EDT By Matt Scuffham and David Milliken LONDON, June 19 (Reuters) - Britain is ready to start selling its shares in Lloyds Banking Group and will examine whether to break up Royal Bank of Scotland, Finance Minister George Osborne said on Wednesday, after acknowledging the re-privatisation of RBS remains a long way off. The government is keen to show Britain's ...

Monitor Finds Mortgage Lenders Still Falling Short of Settlements Terms

Wed, 19 Jun 2013 18:16:56 -0400

The ...

Eden Prairie-based Stratasys to buy MakerBot for $403 million

Wed, 19 Jun 2013 18:13:17 -0400

Eden Prairie -based maker of printers that can create three-dimensional objects, agreed to buy MakerBot Industries LLC for at least $403 million, acquiring a start-up competitor in the rapidly growing ...

Gold ending higher as other metals dip grain contracts rise

Wed, 19 Jun 2013 18:13:15 -0400

Gold is ending higher in Wednesday trading. The August contract is up $7.10 to $1,374 per ounce. Silver and copper are lower with platinum and palladium off by more than 1 percent. Benchmark crude finished 20 cents lower at $98.24 per barrel on the Nymex. Other energy contracts were higher. Wheat, corn and soybeans are up for the ...

Wisconsin Department of Health Services secretary takes medical leave

Wed, 19 Jun 2013 18:13:13 -0400

MADISON, Wis. -- Wisconsin Department of Health Services Secretary Kitty Rhoades is taking a leave of absence to have hip replacement surgery. DHS released a statement saying Rhoades' leave began on Wednesday. She hopes to return by the end of July. Deputy Secretary Kevin Moore will take over the agency in the interim although Rhoades said she will be involved in decision-making as her ...

Father sentenced for binding kids outside Wal-Mart

Wed, 19 Jun 2013 18:12:55 -0400

LAWRENCE, Kan. -; A suburban Chicago man was sentenced Wednesday to 30 months in prison for binding and blindfolding two of his children a year ago in a Wal-Mart parking lot in eastern ...

Stork missing from Safari Park

Wed, 19 Jun 2013 18:12:45 -0400

San Diego Zoo Safari Park officials are searching the North County today for an exotic bird that got caught in a wind gust and flew away Monday ...

UPDATE 1-Jabil to cut jobs forecasts core earnings below estimates

Wed, 19 Jun 2013 18:10:33 -0400

Wed Jun 19, 2013 6:10pm EDT * Sees 4th-quarter core earnings of $0.50-$0.58/share * Analysts expect core earnings of $0.59/share * Shares down 1 percent after market June 19 (Reuters) - Contract electronics maker Jabil Circuit Inc forecast current-quarter core earnings below analysts' estimates and said it planned to cut an unspecified number of jobs as part of a restructuring plan. Jabil ...

Bernanke May Have Just Made the Jobs Report More of a Circus

Wed, 19 Jun 2013 18:09:15 -0400

One of the government's most-hyped economic reports may start getting even more scrutiny thanks to Ben Bernanke. That's because the Federal Reserve chairman made some news on ...

After Hours Red Hat Nokia among gainers after hours

Wed, 19 Jun 2013 18:08:20 -0400

SAN FRANCISCO (MarketWatch) -- Linux software developer Red Hat Inc. was among the stocks seeing notable activity in after-hours trading following the company's quarterly ...

Microsoft Dynamics Apps Hit Azure Cloud

Wed, 19 Jun 2013 18:06:17 -0400

Microsoft announced Tuesday that it's finally offering its Dynamics GP and Dynamics NAV ERP applications on the Windows Azure cloud. The offering comes six months later than originally promised, but it gives customers a "secure, enterprise-class cloud infrastructure [option] from a trusted provider," according to Paul White, senior director, Microsoft Dynamics ERP. ...

The Federal Reserves dysfunctional relationship with the markets | Heidi Moore

Wed, 19 Jun 2013 18:05:23 -0400

stock markets , the bond markets, the markets for government-supported mortgages, the Fed is both the poison and the medicine.The Fed cured them of their ills. It helped pull those markets out of their doldrums in 2009. The central bank was so good at its job that the Fed is now essentially a market participant itself, influencing the prices in all those markets. As ...

Next government will have to cut 50 faster to meet deficit target

Wed, 19 Jun 2013 18:05:21 -0400

The next government will have to increase the pace of spending cuts by 50% in the two years after the 2015 election if it is to meet the current deficit target, new research by the Resolution Foundation thinktank shows.The report finds that if the next government decides instead to stick with the current - already punishing - pace of cuts, the deficit target will only be met by raising taxes by ...

Say what Microsoft offering up to $100000 for novel exploits of Windows 8.1 protections

Wed, 19 Jun 2013 18:03:31 -0400

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. ...

Bernankes Private Exit Strategy

Wed, 19 Jun 2013 18:02:41 -0400

That tension then relaxation was a very interesting physical phenomenon. It's almost as if he realized for the first time, in the middle of the question, that he personally has an exit strategy. He's getting out long before the Fed gets out of QE. And he's keeping it ...

Microsoft Buckles Sets XBox One Free

Wed, 19 Jun 2013 18:02:40 -0400

Microsoft has announced a major policy change on the most controversial policies of the Xbox One, bowing to growing negative consumer sentiment. In a stunning reversal, the company announced that the system would no longer require an Internet connection (beyond an initial period when users first set up their system), dropped all restrictions on trading and loaning games to friends and did away ...

SandRidge Energy Ousts Founder

Wed, 19 Jun 2013 18:02:40 -0400

SandRidge Energy 's board of directors on Wednesday said CEO Tom Ward will be replaced by company president James Bennett, citing a need for new leadership at the U.S. oil and gas company.The Oklahoma City, Oklahoma, company has been under fire since last year from activist investor TPG-Axon Capital and another hedge fund for governance lapses and strategic missteps. Current president James ...

McAfee Tries to Fix His Own Software

Wed, 19 Jun 2013 18:02:39 -0400

spoof on YouTube (Warning: graphic language and images definitely NSFW) aiming to address years of complaints from computer users wanting to remove McAfee software from their devices. Hold onto your mouse pad, because this video is not for the faint of heart. It begins with McAfee explaining that even though he hasn't been affiliated with his namesake firm for 15 years, people keep asking ...

Major Stores May Mislead With Sales

Wed, 19 Jun 2013 18:02:39 -0400

Bargain shoppers beware: Some major retailers may be misleading consumers with those big sales. We all love a good sale, and when you see that sign--20 percent off, 30 percent off, 50 percent off--you assume you're getting a deal. But we found that the sale price may not be a deal at all. Now, customers are fighting back with class action lawsuits against two of the country's most ...

Fed will keep pedal to metal on economic stimulus for now

Wed, 19 Jun 2013 17:56:57 -0400

Repairman Jerry Garcia works on an engine on the assembly line at the Ford plant in Brook Park, Ohio. The American auto industry has made a remarkable turnaround. The economy is growing, the labor market is improving and inflation is nothing to worry about. That's the Federal Reserve's widely-anticipated assessment of the economy, released Wednesday after a two-day meeting.The Fed said ...

Federal Reserve Hints At Slowing Bond Purchases

Wed, 19 Jun 2013 17:54:40 -0400

The US Federal Reserve has signalled it is moving closer to slowing its bond-buying programme, which is intended to keep long-term interest rates at record lows. The Fed offered a more optimistic outlook for the US economy and job market, but said it will maintain the pace of its bond purchases for now. Chairman Ben Bernanke said the Federal Reserve could scale back its $85b (£54b) in ...

Xbox 180 Microsoft Fully Reverses Xbox Ones DRM Policies

Wed, 19 Jun 2013 17:51:04 -0400

Xbox One will not require regular online check-ins or place restrictions on game lending, ';as a result of feedback from the Xbox community,'; Microsoft announced today. The announcement is a complete reversal ...

U.S. aerospace companies seek to reassure public on drones

Wed, 19 Jun 2013 17:49:50 -0400

PARIS (Reuters) - U.S. aerospace companies, keen to benefit from billions of dollars in possible future orders for civilian drones, are mobilizing to assuage public concerns about privacy and ...

Cliffs could halt Bloom Lake expansion if iron price falls

Wed, 19 Jun 2013 17:49:49 -0400

CLF.N ) said on Wednesday that if iron ore prices fell further, it could scrap a key expansion at its Bloom Lake mine in Canada's iron-rich Labrador Trough ...

Precious Metals and Stocks Sink After Federal Reserve Statements

Wed, 19 Jun 2013 17:47:21 -0400

SLV ) futures for July edged 5 cents lower to finish at $21.62.Both precious metals were relatively quiet ahead of the Federal Open Market Committee's highly-anticipated statement. As expected, the central bank will not dial down its bond-buying programs ...

An ETF For Quality Connoisseurs

Wed, 19 Jun 2013 17:47:02 -0400

Year-to-date and over the past 90 days, SPHQ has outpaced the S&P 500. Along those lines, it may not be surprise that S&P Capital IQ rates the $244.8 million ETF Overweight. S&P has four-star ratings on three SPHQ holdings: Dow ...

U.S. competition from Nordstrom good for Hudson’s Bay CEO says

Wed, 19 Jun 2013 17:45:43 -0400

TORONTO – Hudson's Bay Co. is looking forward to the arrival of rival Nordstrom to Canada, its chief executive says -- if only to showcase the veteran Canadian retailer's superior deals to consumers. Richard Baker said Wednesday Nordstrom's first store in Calgary in 2014 will likely strike consumers as beautiful and staffed with many helpful salespeople, but nevertheless as ...

Italian fashion designers Dolce and Gabbana given 20-month jail sentences for tax evasion

Wed, 19 Jun 2013 17:45:43 -0400

MILAN -- Fashion designers Domenico Dolce and Stefano Gabbana were handed a 20-month suspended prison sentence and a heavy fine on Wednesday for hiding hundreds of millions of euros from the Italian tax authorities. The design duo, who are nearly as famous as the stars they dress, were not present in court in Milan and will lodge an appeal against their conviction on charges that they have ...

Quebec regulator declares Desjardins too big to fail

Wed, 19 Jun 2013 17:45:42 -0400

Desjardins Group is one of the largest credit unions in Canada and now it’s also too big to fail. The Quebec Financial Markets Authority on Wednesday identified Desjardins Group as a so-called systemically important institution, putting it in the same class as the country’s big six banks. Under international Basel financial rules, systemically important institutions are financial ...