Latest Breaking Business News
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Barroro voices concern over estimated one trillion euro tax evasion
BRUSSELS - Voicing concern about tax evasion that is estimated at one trillion euros, European Commission President Jose-Manuel Barroso said Tuesday that EU leaders will meet at a one-day summit on Wednesday to negotiate solution. The European Union can't afford to let tax evasion go on the way it is. Such large amounts of money, currently sitting in tax havens, would be greatly beneficial ...
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German central bank sees signals of economic pick up in Q2
FRANKFURT - Germany's central bank Deutsche Bundesbank expects the country's economy to improve "markedly" in the second quarter relying on signals of pick up in industrial orders and likelihood of weather related downturn in construction sector no longer impacting investment sentiments a development that could boost the wider eurozone as it struggles to get out of recession. "Overall ...
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HNL cancer drug trial discontinued by Pfizer
NEW YORK - Pharma major Pfizer has discontinued the development of cancer candidate inotuzumab ozogamicin, which is part of a class of therapies called antibody-drug conjugates (ADCs), in the haematological cancer non-Hodgkin lymphoma after it failed to show benefit in overall survival during phase III trials. Pfizer has notified the study investigators and appropriate regulatory authorities ...
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Merger pact by GrubHub and Seamless to stave off rivals
WASHINGTON - GrubHub Inc. and Seamless North America LLC, two of the biggest online services for food-delivery in the U.S., have entered into a definitive agreement to combine their companies to take on rivals in the growing market for online meal orders. The merger will create a combined company well positioned to drive more orders to restaurants, deliver a better experience for hungry ...
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Mortgage lending in UK rises highest in four years
LONDON - The UK housing market seems to be picking up with gross mortgage lending up 4.3 per cent in April over previous month to 12.1 billion pounds, the highest in over four years, according to the Council of Mortgage Lenders (CML). The mortgage lending was 21% higher than April 2012, but this data is skewed by the end of the stamp duty concession on 24 March, 2012. Under the stamp duty ...
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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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US drugmaker Actavis buying Warner Chilcott in $8.5bn deal
WASHINGTON/ DUBLIN - Actavis Inc, the largest US generic drug maker by market value, is acquiring Dublin-based Warner Chilcott in a deal worth $8.5billion (5.6billion pounds) including $3billion net debt, to create the third-biggest specialty pharmaceutical company in the country. Under the deal, Actavis, which itself has been the subject of bid speculation, would be offering $5billion in ...
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Microsoft launches all-in-one home entertainment system Xbox One
Microsoft has unveiled its latest video gaming console 'Xbox One' which is believed to transform games, TV and entertainment for the 21st century living room. The latest console reportedly promises a vision of the future. According to a report by the Mirror, 'Xbox One' will allow users to turn on the device with words like "Xbox On", and "snap" will allow users to watch two things at ...
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Microsoft unveils new all-in-one Xbox console
Microsoft unveiled a new Xbox console Tuesday that represents a major upgrade on the US-market-leading Xbox 360 model. The president of the IT giant's Interactive Entertainment Business, Don Mattrick, revealed the hi-tech Xbox One entertainment and gaming console during an event at Microsoft's Redmond, Washington, campus. The Xbox One was presented as an all-in-one system for gaming, watching ...
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Microsoft Unveils New Xbox One Game Console
REDMOND, WASHINGTON Microsoft Corp gave the world the first look at its new game console on Tuesday, hoping the Xbox One will attract existing video game fans while also becoming a hub for living room entertainment. The third-generation Microsoft console, coming eight years after the Xbox 360, was unveiled by games unit chief Don Mattrick at an event at the software company's campus ...
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Morgan Stanley India to sell wealth management arm to StanChart
MUMBAI - The UK based Standard Chartered (StanChart) Monday announced plans to acquire the Indian private wealth management business of US multinational financial services firm Morgan Stanley for an undisclosed amount as part of plans to expand operations. The acquisition is subject to regulatory approvals. "Standard Chartered India has agreed to acquire Morgan Stanley's onshore private ...
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Asian Stocks Rise On Fed Speculation
Asian stocks rose broadly on Wednesday, encouraged by a positive lead from Wall Street, after comments from two Federal Reserve officials suggested the Federal Reserve is unlikely to taper its $85 billion-per-month bond-buying program anytime soon. Investors look forward to a speech from the Fed Chairman Ben Bernanke and the release of FOMC May minutes due out later in the day for clues on the ...
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Stocks to Watch H-P Target Saks are Wednesday’s stocks to watch
SAN FRANCISCO (MarketWatch) -- Dow component Hewlett-Packard Co. and Target Corp. are among the high-profile companies in the queue to report quarterly results on Wednesday. But the scene stealer may be Saks Inc,. which reportedly hired Goldman Sachs to shop the luxury ...
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Britvic to close two factories and warehouse with loss of up to 400 jobs
Britvic in the UK and Ireland are under threat, after the maker of Robinsons squash and R White's lemonade said it would close two factories and a warehouse.The company, which employs some 3,300 people, is reducing its staff by up to 15% as part of an attempt to cut annual costs by 30m over the next three years.Britvic's chief executive, Simon Litherland, said: "It's always ...
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Xbox One unveiled by Microsoft – video
Microsoft gives customers their first look at its Xbox One, which comes eight years after the release of the Xbox 360. The company is hoping to draw in non-games fans with extra features such as television, Skype calling and heartbeat measuring. The Xbox One is expected to go on sale by the end of ...
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JP Morgan CEO Jamie Dimon remains the Indiana Jones of corporate America | Heidi Moore
needn't have suffered any trepidation . Like a roomful of capitalist Beliebers, the shareholders that came to the microphone often had nice things to say. The few critical stockholders - who argued about LIBOR interest-rate setting ...
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Wednesday Newspaper Review - Irish Business News and International Stories - - May 22 2013
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 ...
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Property Drives Wealth of China’s Rich Women
Real estate in China is the main source of wealth for China's wealthiest women, a sign that the sector remains one with huge growth potential even as it contends with cooling measures, shows a survey by research firm Wealth-X released Wednesday. Total wealth attributed to real estate accounts for more than 60 percent of the combined net worth of the 15 wealthiest women in China, which is ...
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Hedge Funds Ditch News Corp for Boeing
The world's largest hedge funds have bolstered their equity holding so far this year, increasing their exposure by over 5 percent and adding more ...
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Cold Weather Puts Freeze On Retail Sales
Retail sales suffered their biggest monthly drop in a year in April as cold weather and restricted household budgets combined to damage demand on the high street. The Office for National Statistics (ONS) said retail sales volumes including automotive fuel fell 1.3% during the month compared to March, compounding economists' forecasts for a flat performance. Compared with a year ...
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Airbus wins Oman Air order for three A330 planes
A visitor looks at replica aircrafts on the Airbus booth during the Annual European Business Aviation Convention & Exhibition (EBACE) at Cointrin airport in Geneva May 21, ...
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Hong Kong Regulator Says Former Deutsche Bank Trader Violated Code of Conduct
The Securities and Futures Commission said late Tuesday a former trader at Deutsche Bank AG violated the regulator's code of conduct, which resulted in a sudden fall in the price of HSBC Holdings PLC's (0005.HK) Hong Kong-listed shares four years ago.The regulator's statement follows a multi-year investigation that aimed to uncover whether there was any market manipulation ...
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Swedish Riksbank Appoints New Deputy Governors
The Swedish Riksbank said Wednesday it has decided to appoint Martin Floden and Cecilia Skingsley as new deputy governors of the central bank's executive board, succeeding Lars E.O. Svensson and Barbro Wickman-Parak whose terms of office expired May 20."We are very pleased to be able to present another two such highly qualified people as members of the executive board. The General ...
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Metals Stocks Gold edges higher ahead of Bernanke’s testimony
HONG KONG (MarketWatch) -- Gold prices edged higher on Wednesday as the U.S. dollar weakened in the run-up to Federal Reserve Chairman Ben Bernanke's testimony before Congress later in the ...
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IMF to give verdict on UK economy - live
George Osborne, Britain's chancellor of the exchequer, could face criticism over his handling of the UK economy. Photograph: ANDREW COWIE/AFP/Getty ...
South Korea Focus
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South Korea's tool for northern diplomacy
A 66 square kilometre industrial complex just over the border is an important part of reconciliatory efforts between South Korea and the North. It is important to the economy as well, but its diplomatic significance runs far deeper.
The Kaesong Industrial Complex is the only industrial special administrative region that still exists as a joint agreement between North and South Korea. Following the sinking of the ROKS Cheonan, relations between the two countries deteriorated significantly, with South Korea accusing the North of the attack and the North subsequently denying involvement. Read more
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