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Canada threatens to retaliate against change in US meat labeling rules

Thu, 23 May 2013 16:33:00 -0400

OTTAWA - Canada has threatened "retaliatory measures" against the United States move changing the so-called country of origin labeling that would track beef and hogs through the meat processing and distribution systems, stating that it is discriminatory, a view shared by the World Trade Organisation. On Thursday, the United States Department of Agriculture issued a final modification to its ...

After breaches Twitter beefs up security with two-step login

Thu, 23 May 2013 17:11:08 -0400

NEW YORK - Aiming to tackle recent high-profile breaches, popular micro-blogging site Twitter is introducing an optional two-step login for users to beef up security. The new system would try to ensure "it's really you" when a user signs in to Twitter, which transmits some 400 million messages a day. The move follows recent attacks into the twitter accounts of news organisations' such as ...

Irish biotech firm Elan rejects revised Royalty Pharma bid

Thu, 23 May 2013 17:52:46 -0400

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 ...

Import alert by USFDA hits Wockhardt shares

Thu, 23 May 2013 16:26:11 -0400

MUMBAI - Shares of Wockhardt, one of the leading Indian pharmaceutical and biotechnology companies, witnessed a sharp fall of 20% to Rs. 1,315 ($23.61) on the Bombay Stock Exchange(BSE) on Thursday after the US FDA published an import alert on one of its three manufacturing facilities near Aurangabad. The import alert, 'detention without physical examination of drugs from firms which have ...

Ford Motor to shutdown 2 units in Australia

Thu, 23 May 2013 16:26:07 -0400

MELBOURNE - Ford Motor Company Wednesday announced plans of closing its local manufacturing operations in Broadmeadows and Geelong in October 2016 thereby forcing 1,200 people out of work. Spelling the end of the iconic Ford Falcon in the country, Ford Australia president Bob Graziano announced that the carmaker would shut its Victorian facilities in October 2016, bringing an end to nearly ...

Construction begins on new island off Jumeirah Beach in Dubai

Mon, 20 May 2013 04:26:18 -0400

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 ...

IMF warns UK against continuing austerity programme

Wed, 22 May 2013 15:53:31 -0400

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 ...

Chidambaram says U.S. Federal Reserves statement misunderstood calls for calm

Thu, 23 May 2013 09:00:01 -0400

Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves. Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor ...

Plant restart wont wait on investigations

Thu, 23 May 2013 17:35:06 -0400

The restart of the San Onofre nuclear plant could be authorized before the conclusion of investigations into the conduct of the plant operator, the chairman of the Nuclear Regulatory Commission told a Senate committee on ...

HP Q2 earnings down 32 to USD1.1b

Thu, 23 May 2013 17:31:11 -0400

(MENAFN) Hewlett-Packard Co. (HP) CEO, Meg Whitman, announced that the PC maker's earnings during the second quarter dropped by 32 percent to USD1.1 billion from USD1.6 billion a year earlier, reported AP.However, the earnings results exceeded forecasts of the management and the analysts, due to Whitman's plan to reduce costs, overhaul the product line, and to focus on more profitable ...

After Hours Pandora jumps Sears tanks after hours

Thu, 23 May 2013 17:30:52 -0400

SAN FRANCISCO (MarketWatch) -- Shares of Pandora Media Inc. and Marvell Technology both advanced in after-hours action Thursday following their quarterly earnings reports. Sears sank on a large loss for the ...

Letters Orwellian changes to legal aid provision

Thu, 23 May 2013 17:27:23 -0400

Chris Grayling is disinterested in any contribution from the profession. It is beyond doubt that the tendering out of legal aid to private business will herald a decline in standards in a legal system that has been a model of justice for centuries. There is no provision whatsoever in the proposals to ensure standards are maintained when individuals are unable to choose their representation. Once ...

Sears Shares Drop 13 After Big Loss

Thu, 23 May 2013 17:24:43 -0400

(Click here to get the latest quotes for the company.) The department-store chain reported an adjusted loss of $1.29 a share, compared with a loss of 31 cents a share in the year-earlier period.Revenue fell ...

Gaps Earnings Beat Forecasts

Thu, 23 May 2013 17:24:42 -0400

Gap reported first-quarter earnings that beat Wall Street expectations, helped by a rise in same-store sales at its Old Navy and Gap chains and growth in Asia. What is Gap stock doing in after-hours ...

Pandora Shares Jump After Revenue Beat

Thu, 23 May 2013 17:24:42 -0400

Pandora hit its earnings target Thursday and delivered better-than-expected revenue boosted by new subscribers and growth in the mobile advertising. "Mobile listening hours and mobile ad revenue reached record highs," said Pandora CEO Joe Kennedy. The company's shares jumped after the ...

Ally Triples Offer for ResCap Claims

Thu, 23 May 2013 17:24:41 -0400

Ally Financial agreed Thursday to pay $2.1 billion to settle legal claims tied to its bankrupt Residential Capital unit--nearly triple the amount it had initially offered. Ally hopes that the deal will put an end to allegations that ResCap was stripped of choice assets such as Ally Bank before being put into bankruptcy, leaving creditors of the subprime mortgage business empty-handed. Putting the ...

Google Faces New Antitrust Probe Report

Thu, 23 May 2013 17:24:41 -0400

Google , which dominates web display advertising, has broken antitrust law in how it handles some ad sales, a source told Reuters on Thursday. The source said that it was unlikely that the Federal Trade Commission had sent out civil investigative demands in relation to the probe, which would be the sign of a formal and more serious investigation. The FTC wrapped up ...

Gap profit soars Aeropostale first quarter sales plummet

Thu, 23 May 2013 17:11:55 -0400

GPS.N ) reported a higher first-quarter profit on Thursday, helped by a rise in same-store sales at its Old Navy and namesake chains, and growth in ...

Google faces new federal antitrust probe source

Thu, 23 May 2013 17:11:55 -0400

WASHINGTON (Reuters) - U.S. regulators are in the early stages of an antitrust probe into whether Google Inc, which dominates web display advertising, has broken antitrust law in how it handles some ad sales, a source told Reuters on ...

Sprint SoftBank complete U.S. state regulatory review process

Thu, 23 May 2013 17:11:54 -0400

9984.T ) said on Thursday they had received all necessary state regulatory approvals for the Japanese company's proposed $20.1 billion purchase of 70 percent of ...

Sears posts bigger-than-expected loss as cold weather bites

Thu, 23 May 2013 17:11:54 -0400

SHLD.O ) reported a much bigger-than-expected quarterly loss as cooler weather hurt sales at its stores and the company said it was considering a sale of its service contracts business to shore up ...

US stocks end slightly lower

Thu, 23 May 2013 17:10:44 -0400

US stocks have finished slightly lower, little-affected by a sharp selloff in Asian and European markets led by the 7.3 per cent plunge of Japan's Nikkei 225 ...

Marvell earnings slide but beat Street targets

Thu, 23 May 2013 17:09:48 -0400

SAN FRANCISCO (MarketWatch) -- Marvell Technology Group said Thursday afternoon that earnings dell sharply in the first fiscal quarter, but the adjusted results surpassed Wall Street's expectations. For the period ended May 4, ...

MARKET SNAPSHOT U.S. Stocks End Volatile Day With Modest Loss

Thu, 23 May 2013 17:08:47 -0400

NEW YORK – U.S. stocks fell modestly on Thursday, substantially paring intraday losses after upbeat U.S. economic reports and gains for Hewlett-Packard Co. countered worries about the Federal Reserve potentially tapering its bond-buying program.Stocks had dropped sharply at the start of trading, taking their cue from a massive selloff in Japanese equities overnight. However, they began to ...

Gap first-quarter profit rises 43 percent

Thu, 23 May 2013 17:08:46 -0400

Gap Inc reported a higher first-quarter profit on Thursday, helped by a rise in same-store sales at its Old Navy and namesake chains, and growth in Asia. The company, which also owns Banana Republic, posted net income of $333 million, or 71 cents per share, for the quarter ended May 4, up 42.9 percent from $223 million, or 47 cents per share, in the same quarter last year. As previously reported, ...

Iceland PM Aims to Remove Capital Controls

Thu, 23 May 2013 17:08:46 -0400

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 for ...

Venezuelas PdVSA to Receive $1.5 Billion Loan From Rosneft for Oil Joint Venture

Thu, 23 May 2013 17:08:46 -0400

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 ...

Pressure mounts at Matrix Asset Management

Thu, 23 May 2013 17:07:30 -0400

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 ...

Diluent shortages could make for sticky situation for Alberta bitumen

Thu, 23 May 2013 17:07:29 -0400

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 poised ...

American Express CDC Take Home Top GoodWorks Effie Awards

Thu, 23 May 2013 17:06:52 -0400

GoodWorks Award highlights great work by companies using their platforms for greater social good while also moving their primary mission forward. ...

The Donald prevails in fraud suit

Thu, 23 May 2013 17:06:09 -0400

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 ...

Stocks wobble as investors digest Fed worries

Thu, 23 May 2013 17:06:05 -0400

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 ...

REFILE-BRIEF-New York Co reports Q1 earnings per share $0.03

Thu, 23 May 2013 16:46:23 -0400

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 ...

US STOCKS-Wall St sags but ends off session lows HP hits 52-wk high

Thu, 23 May 2013 16:29:37 -0400

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 ...

Shareholder adviser firm ISS paying $300K fine to settle charges of failing to protect clients voting info

Thu, 23 May 2013 16:17:50 -0400

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 clients ...

Big stores nix credit card settlement file suit

Thu, 23 May 2013 16:16:37 -0400

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 ...

Nissan recalls Micras over steering problem

Thu, 23 May 2013 16:13:03 -0400

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 ...

Microsoft expands Windows Azure in Asia Pacific

Thu, 23 May 2013 16:13:02 -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. ...

High street blight are pound shops better than empty shops

Thu, 23 May 2013 16:13:02 -0400

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, ...

Microsoft to deliver new Kinect for Windows sensor next year

Thu, 23 May 2013 16:11:57 -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. ...

Apply Here Rust Belt Tempts Immigrants

Thu, 23 May 2013 16:10:19 -0400

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 ...

Kmarts New Ad Its a Gas

Thu, 23 May 2013 16:10:18 -0400

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 the ...

Average 401 Up 75 Percent Since 09

Thu, 23 May 2013 16:10:17 -0400

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 on ...

Cautious calm returns to Wall Street

Thu, 23 May 2013 16:06:21 -0400

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 ...

Apple supplier Cirrus slumps as pricing pressure grows

Thu, 23 May 2013 15:56:15 -0400

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 ...

ChannelAdvisor soars in debut

Thu, 23 May 2013 15:56:14 -0400

(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 ...

Goldman Sachs banker settles SEC pay-to-play charges

Thu, 23 May 2013 15:56:07 -0400

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 ...

SAC lawyers met with prosecutors to argue against charges sources

Thu, 23 May 2013 15:56:07 -0400

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 ...

Icahn seeks up to $7 billion for Dell bid

Thu, 23 May 2013 15:56:06 -0400

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 ...

Pentagon sees slight drop in F-35 acquisition costs sources

Thu, 23 May 2013 15:56:06 -0400

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 ...

Who repaid U.S. loan first Chrysler Tesla dont see eye to eye

Thu, 23 May 2013 15:56:05 -0400

CEO of Tesla Motors Elon Musk speaks during a session titled ''To Infinity and Beyond: Jeff Skoll talks with Elon And Kimbal Musk'' at the Milken Institute Global Conference in Beverly Hills, California April 29, ...

Ally to pay $2.1 billion to settle claims tied to ResCap

Thu, 23 May 2013 15:56:05 -0400

(Reuters) - Ally Financial Inc agreed on Thursday to pay $2.1 billion to settle legal claims tied to its bankrupt Residential Capital LLC unit, nearly triple the amount it initially offered to creditors of the subprime mortgage ...

Ex-Goldman Investment Banker Pays $100000 in SEC Pay-to-Play Case

Thu, 23 May 2013 15:53:13 -0400

A former investment banker at Goldman Sachs Group Inc. (GS) agreed to pay $100,000 and submit to a five-year ban from the securities industry to settle Securities and Exchange Commission allegations about his role in a pay-to-play scheme involving the 2010 Massachusetts gubernatorial race.The ex-banker, Neil M.M. Morrison, worked in Goldman's municipal-bond-underwriting business, and his job ...

Target Macys and Others Sue Visa and MasterCard Over Fees

Thu, 23 May 2013 15:53:12 -0400

Some of the country's biggest retailers sued Visa Inc. (V) and MasterCard Inc. (MA) Thursday, arguing the world's largest payment networks have imposed anticompetitive transaction-fee policies and card-acceptance rules on merchants.The lawsuit, brought by Target Corp. (TGT), Macy's Inc. (M), Saks Inc. (SKS), Kohl's Corp. (KSS) and other merchants, claims existing efforts to ...

Glencore Xstrata to Appoint Andrew Caplan as Head Of Aluminum Unit -Source

Thu, 23 May 2013 15:53:10 -0400

Commodities titan Glencore Xstrata PLC (GLNCY, GLEN.LN) is set to appoint Andrew Caplan as the new head of it aluminum division following the departure of veteran Gary Fegel, a person familiar with the matter said.Mr. Caplan is a relative newcomer to the company, having joined Glencore in 2007 from Trafigura as an alumina trader. He is currently the head of Glencore's bauxite and alumina ...

Copper Hits One-Week Low as Chinese Manufacturing Disappoints

Thu, 23 May 2013 15:53:09 -0400

Copper futures slipped on Thursday, pulling back from the previous day's near-six-week high as weaker Chinese manufacturing data hit the demand outlook for the metal.The most actively traded copper contract, for July delivery, fell 7.65 cents, or 2.3%, to settle at $3.304 a pound on the Comex division of the New York Mercantile Exchange, a one-week low.The preliminary HSBC China ...

Unique Broadband Systems Look Communications continue to send different messages

Thu, 23 May 2013 15:51:52 -0400

About four years after the $80-million sale of its major asset, about three years after a proxy battle that saw the incumbents thrown out and millions of dollars in legal bills, a resolution of the issues at Unique Broadband Systems and its subsidiary Look Communications still has not been reached. That resolution is also made more difficult because of the different decisions made by a number of ...

Saskatchewan finds small solutions to big pipeline problems

Thu, 23 May 2013 15:51:49 -0400

Stunned by Enbridge Inc.'s Kalamazoo River oil spill in 2010 that disrupted its sole market access in Saskatchewan, Crescent Point Energy Corp. found an unlikely ally: an agriculture ...

Stocks rebound after early sell-off

Thu, 23 May 2013 15:50:36 -0400

NEW YORK Investors recovered their poise by midday Thursday after an early sell-off sent stocks sharply lower. 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 investors. The ...

New Home Sales Rise Jobless Claims Drop

Thu, 23 May 2013 15:47:51 -0400

May 23, 2013 3:02pm Sales of new homes rose in April rose nearly 30 percent compared with a year ago, according a to a report by the Commerce Department. This is the latest evidence of a recovering housing market, six years after the housing bubble burst leading to a recession. Home prices are also rising but have yet to get back to the highs seen during the bubble. The median price of a new ...

9 Tips to Finding Cheaper Gas on Memorial Day Weekend

Thu, 23 May 2013 15:47:51 -0400

With Memorial Day weekend fast approaching, the summer driving season is starting to heat up, and more cars on the road means gas prices are expected to go up. Some analysts wonder whether the high gas prices we were seeing early in the year could mean record highs for 2013. But the hunt for cheap gas doesn't have to be difficult. Like many things these days, there's an app ...

Wall Street dips as data HP offset stimulus fears

Thu, 23 May 2013 15:47:32 -0400

US stocks slipped on Thursday, recovering from session lows as encouraging domestic economic data and a rally in Hewlett-Packard's shares offset concerns about the timing of any reduction in the Federal Reserve's monetary ...

US STOCKS-HP supports Dow limits SPs loss in choppy trade

Thu, 23 May 2013 15:31:49 -0400

Thu May 23, 2013 3:31pm EDT * HP jumps after raising 2013 outlook * Encouraging economic data help stocks retreat from lows * Investors fret about timing of Fed stimulus pullback * Dow flat; S&P 500 off 0.2 pct; Nasdaq off 0.1 pct By Angela Moon NEW YORK, May 23 (Reuters) - U.S. stocks edged down on Thursday but rebounded sharply from their session lows as a rally in Hewlett-Packard's shares ...

Dental supplier Patterson Cos. meets 4th qtr expectations

Thu, 23 May 2013 15:05:14 -0400

Patterson Companies of St. Paul, which makes medical supplies for dentists and veterinarians, met Wall Street earnings expectations for the fourth quarter and the ...

H7N9 flu virus may be able to spread among people

Thu, 23 May 2013 15:04:51 -0400

Working with ferrets, the model for human transmission, the study found the potentially dangerous virus was transmitted by direct contact, but not efficiently through the air. Analyzing the viral gene sequence showed that the virus might have undergone mutations making it more easily transmissible in ...

Late property tax notices to go out

Thu, 23 May 2013 15:04:51 -0400

The county will start to mail out more than 42,000 notices to taxpayers who have failed to pay their property taxes, said the San Diego County treasurer-tax collector's office on Thursday. The amount in unpaid taxes and late fees totals $94.1 ...

US STOCKS SNAPSHOT - Dow Nasdaq edge up in choppy trading

Thu, 23 May 2013 14:59:58 -0400

NEW YORK | Thu May 23, 2013 2:59pm EDT NEW YORK May 23 (Reuters) - U.S. stocks hit session highs in a volatile session on Thursday with the Dow industrials posting a second straight swing of more than 160 points as investors digest the Federal Reserve's evolving policy stance. The Dow Jones industrial average rose 20.81 points or 0.14 percent, to 15,327.98, the S&P 500 lost 1.98 ...

Snapple co-founder Leonard Marsh dies at 80

Thu, 23 May 2013 14:59:08 -0400

Leonard Marsh - the co-founder of the Snapple beverage brand - has died at age 80.Snapple was founded in New York as Unadulterated Food Products in 1972, selling natural fruit juices to health food stores. Marsh started the business with his brother-in-law Hyman Golden and his childhood friend Arnold Greenberg. The now well-known brand name didn't appear until 1980.Marsh was a window washer ...

Stock markets lose nerve on fears of end to quantitative easing

Thu, 23 May 2013 14:57:02 -0400

FTSE 100 came within 90 points of its December 1999 all-time high, the index slumped 143 points yesterday to 6696, wiping 36bn off the value of Britain's top companies.The 2.1% fall was the index's worst in one day since it lost just over 2.5% a year ago to the day, on fears that Greece could leave the eurozone. But after its recent strong surge this latest fall in the blue-chip index ...

Why is Tesco paying a farewell bonus to its US boss

Thu, 23 May 2013 14:56:38 -0400

Companies tend to resent the suggestion that they have, by stealth, turned discretionary bonuses for executives into semi-guaranteed supplements to salary. But it's true - they have. Look at the payoff awarded ...

Halfords eyes three-year turnaround but investors take fright

Thu, 23 May 2013 14:56:37 -0400

Halfords ' chief executive has outlined a three-year turnaround plan for the struggling bicycles and car parts chain, but it will come at a cost to investors, who have seen the dividend cut by 35%.Matt Davies has set a sales target of 1bn by 2016, but said that profits would remain flat for at least two years as the chain invests 100m in staff training, store revamps and a better online ...

Tescos Fresh Easy boss awarded liquidation damages

Thu, 23 May 2013 14:56:35 -0400

Tesco 's failed US chain Fresh & Easy has received a 1.7m payoff despite the business being shut down after repeated losses.Tim Mason, who departed in December after 30 years at the group, was awarded "liquidation damages" equivalent to his annual salary plus a sum equal to his average bonus over the past two years.Tesco announced last month it would exit the US after racking ...

Halfords investors face uphill climb until 2016

Thu, 23 May 2013 14:56:33 -0400

Matt Davies' revamp plan - Getting into Gear 2016 - is honest about the time required for a turnaround and investors must accept there are no quick ...

Microsoft Introduces the Surface Tablet

Thu, 23 May 2013 14:56:00 -0400

The new Microsoft Surface tablet on display following a press conference at Pier 57 to officially launch Windows 8 and the tablet in New York on October 25, ...

Under Arrest Now Under Glass Madoff

Thu, 23 May 2013 14:53:39 -0400

Bernie Madoff has joined yet another rogue's gallery, this time an actual museum gallery. In cooperation with the FBI, his victims and members of the Madoff family, the National Museum of Crime & Punishment this week opened a permanent exhibition devoted to one of the headlining villains of the Great Recession. "He is the No. 1 public enemy for financial crime," said Janine ...

Make Mine Food Dye and Rubbing Alcohol

Thu, 23 May 2013 14:53:37 -0400

At least one bar in New Jersey has been mixing food dye with rubbing alcohol and serving it as scotch. That's one of the details released Thursday from the "Operation Swill" investigation by the state Division of Alcoholic Beverage Control. Twenty-nine bars and restaurants in the state are accused of putting cheap booze in premium brand liquor bottles and selling it to patrons who ...

Mobile Devices Are Sitting Ducks Pros

Thu, 23 May 2013 14:53:37 -0400

When it comes to keeping their mobile devices safe and secure, consumers are playing a game of cat-and-mouse with cybercriminals. Although most users are aware that mobile devices can be hacked, just as desktops or laptops can, many still don't take steps to protect themselves and the data on their smartphones and tablets, according to a study released Wednesday at the CTIA conference in Las ...

Can Microsofts Kinect finally deliver for gamers

Thu, 23 May 2013 14:46:28 -0400

original Kinect and promised next-level gaming free of controllers. What happened? It turned out that the Kinect hardware wasn't quite as advanced as we ...

Buyout Firms Prepare To Battle For Hastings

Thu, 23 May 2013 14:44:31 -0400

Some of the biggest private equity firms in the City are preparing to do battle over a stake in the 800m motor insurer Hastings, Sky News understands. A pack of potential investors, led by Advent International, owner of the Domestic & General warranty provider, is in early-stage talks about acquiring a shareholding in Hastings. Five buyout firms are understood to have been invited to ...

Pad this Apple Microsoft blasts iPad yet again in new ad

Thu, 23 May 2013 14:42:23 -0400

After getting Siri to do its critical work, Microsoft releases another ad comparing the iPad and Windows 8 tablet. Guess which comes out looking ...

AEP NextEra Energy shares tumble at opening trades to stand

Thu, 23 May 2013 14:39:30 -0400

After a review of trades in those two stocks in the first minute of trading, the New York Stock Exchange said all of the trades will stand. However, it said all trades in AEP at or below $46.03 in that period, and all trades in NextEra at or below $76.19 will be marked with an "Aberrant Report ...

Goldman unveils checks on conflicts in bid to fix image

Thu, 23 May 2013 14:39:23 -0400

Lloyd Blankfein, Chairman and CEO, Goldman Sachs Group, speaks with the media after meeting with U.S. President Barack Obama and other CEOs at the White House in Washington February 5, ...

EU denies breakdown in solar panel talks

Thu, 23 May 2013 14:39:22 -0400

BRUSSELS (Reuters) - The European Commission rejected Chinese trade association statements that talks to resolve a dispute over allegations of dumping of solar panels had broken down, while Chinese comments highlighted risks the dispute could ...

U.S. prosecutors sought testimony from top SAC executives WSJ

Thu, 23 May 2013 14:39:22 -0400

NEW YORK (Reuters) - U.S. prosecutors are seeking testimony from three senior executives of the $15 billion hedge fund SAC Capital Advisors, the Wall Street Journal reported on ...

Elan rejects Royaltys $6.4 billion raised offer

Thu, 23 May 2013 14:39:21 -0400

ELN.I ) rejected Royalty Pharma's ROYPH.UL increased $6.4 billion bid on Thursday, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one ...

Ride-share service Lyft raises $60 million from venture capital firm

Thu, 23 May 2013 14:39:21 -0400

SAN FRANCISCO (Reuters) - Ride-sharing service Lyft said it had raised $60 million from venture-capital firm Andreessen Horowitz, underscoring the growing appeal of services that tap into consumers' willingness to share goods and services for a ...

Ally Financial to Pay $2.1 Billion in Settlement With ResCap Creditors

Thu, 23 May 2013 14:36:13 -0400

Ally Financial Inc. said Thursday it will pay $2.1 billion to its mortgage subsidiary Residential Capital and the unit's creditors under an agreement reached last week that could move the Detroit-based lender closer to repaying its government bailout.The amount is $1.35 billion more than what Ally previously offered to pay to fend off ResCap creditors trying to hold the government-owned ...

JPMorgan names Barry Sommers to head consumer bank

Thu, 23 May 2013 14:36:12 -0400

JPMorgan Chase said it has appointed Barry Sommers, under whom the bank expanded its services to wealthy clients, to head its Chase consumer bank business. Sommers, 44, who previously served as chief executive of the bank's wealth management business, joined JP Morgan through the Bear Sterns merger in 2008. Sommers was responsible for the company's Chase Private Client business, which ...

ISS Employee Leaked Proxy Votes SEC Says

Thu, 23 May 2013 14:36:10 -0400

Institutional Shareholder Services Inc., a proxy advisory firm that advises investors on corporate governance matters, agreed to pay a $300,000 penalty to settle charges that an employee leaked confidential information on proxy votes for roughly five years.The employee, who no longer works at ISS, passed along information about how more than 100 clients were voting in exchange for tickets to ...

Top 10 headaches the Bank of Canada’s new chief faces right off the bat

Thu, 23 May 2013 14:34:42 -0400

The Bank of Canada’s new Governor Stephen Poloz takes the helm June 3. Not only does he have to fill ';the glittering shoes of rock-star-status Governor'; Mark Carney, he also faces a raft of challenges right off the bat, says BMO Capital Markets chief economist Douglas Porter. ';As if that economic and financial backdrop was not daunting enough, he will also have some ...

Are financial services firms prepared for onslaught of new regulation

Thu, 23 May 2013 14:34:42 -0400

More than 25% of Canadian financial services providers are either "not very" or "not at all" prepared for upcoming regulatory changes, according to a recent survey conducted by Randstad Canada with Ipsos Reid. The study polled 300 professionals in Canada's financial services sector. They worked in departments including operations, management, risk management, governance, ...

Fracking threatens Germany’s ‘absolutely pure beer’ brewers say

Thu, 23 May 2013 14:34:39 -0400

German brewers called on Chancellor Angela Merkel's government to block the tapping of shale gas by means of hydraulic fracturing, citing industry concerns that fracking could taint the purity of the country's beer. The Association of German Breweries, which represents companies including Anheuser-Busch InBev NV and Bitburger Braugruppe GmbH, rejected the government's planned ...

Another busy hurricane season expected this year for US with 13 to 20 named storms

Thu, 23 May 2013 14:33:30 -0400

FILE - In this Aug. 30, 2012 file photo, residents evacuate their flooded neighborhood in LaPlace, La. as Hurricane Isaac staggered toward central Louisiana, its weakening winds driving storm surge into portions of the coast and the River Parishes between New Orleans and Baton Rouge. Federal forecasters are predicting yet another busy hurricane season. The outlook on Thursday, May 23, 2013 calls ...

TGI Fridays nailed for doctoring booze

Thu, 23 May 2013 14:33:16 -0400

TRENTON, N.J. Here's one that will sober you up. Twenty-nine bars and restaurants, nearly half of them TGI Fridays, filled premium brand liquor bottles with lower-quality booze and sold it to patrons who thought they were buying the good stuff, authorities said Wednesday. Worse yet, investigators said at least one New Jersey bar was mixing food dye with rubbing alcohol and serving it as ...

IRS scandal may reduce audit risk

Thu, 23 May 2013 14:33:12 -0400

(MoneyWatch) Recent congressional hearings, changes in leadership and the impact on resources resulting from budget cuts mark a low point for the IRS. They may also mark a reduction in the number of tax returns they'll ...

How Bernankes testimony affects investors

Thu, 23 May 2013 14:33:12 -0400

the Fed may cut the pace of bond purchases in the next few months if policymakers see indications of sustained economic growth. That pushed the benchmark 10-year Treasury note yield above 2 percent for the first time since March. It also raised fears about the damage that could be done to bond prices if rates rise. But what action, if any, should investors take? That's easy: Nothing. To ...

Video GM recalls Cadillac SUVs due to loose wheels

Thu, 23 May 2013 14:33:11 -0400

Stocks opened sharply lower after a new report showed unexpected weakness in Chinese manufacturing. Also, General Motors is recalling more than 27,000 Cadillac SUVs worldwide because of loose wheels. Ashley Morrison ...

What holds women back

Thu, 23 May 2013 14:33:11 -0400

posted a not terribly controversial idea . She'd recently read "Lean In" (Sheryl Sandberg's memoir-manifesto) and responded with this view: "There is a problem with any group that squanders the talent of half its members, especially if it doesn't even realize it's doing it." Women make up only a small percentage of leaders in the corporate world, in ...

NJ Bars Accused of Booze Fraud Serving Rubbing Alcohol

Thu, 23 May 2013 14:30:26 -0400

(Image credit: Julio Cortez/AP Photo) New Jersey authorities are investigating 29 establishments for serving customers cheaper booze as a substitute for top-shelf liquor, including one that allegedly offered rubbing alcohol and food coloring as scotch. ';This alleged scheme is a dishonest ruse to increase profits, and it is a slap in the face to the consumer,'; said state Attorney ...

At midday Wall Street pares losses TSX still hurting

Thu, 23 May 2013 13:47:43 -0400

U.S. stocks and bonds were little changed on Thursday, with equities rebounding from what traders considered an excessive drop on Wednesday, though concerns remained over the pace of global economic growth.The midday strength in U.S. equities bucked a worldwide trend of weakness. European shares ended down 2 per cent while Japan plummeted 7.2 per cent on weak data from China and ...

Man who pretended to be member of Walt Disney family arrested

Thu, 23 May 2013 13:43:31 -0400

SANTA CLARITA, Calif. - Authorities say a man has been arrested after claiming to be a member of the Walt Disney family and giving away invalid Disneyland passes.Los Angeles County sheriff's officials say the man called himself "Stephen Disney" and had a fake driver's license and tax forms that falsely claimed income from the Walt Disney Corp.The statement says he gave ...

Unemployment aid applications fell to 340000 last week

Thu, 23 May 2013 13:43:23 -0400

WASHINGTON - The number of Americans applying for unemployment benefits fell 23,000 last week to a seasonally adjusted 340,000, a level consistent with solid job growth.The less volatile four-week average ticked down just 500 to 339,500, the Labor Department said Thursday. That's close to the five-year low of 338,000 reached during the first week of May. The four-week average is 9 percent ...

Market Extra Market carnage underlines dangers of overcrowding

Thu, 23 May 2013 13:41:47 -0400

NEW YORK (MarketWatch) -- Japan's stock market plunge, a sharp rebound by the yen, and even the temporary whack taken by major U.S. indexes on Thursday all help demonstrate what happens when trades get too ...

Energy Stocks Energy stocks decline Marathon asset sale fizzles

Thu, 23 May 2013 13:41:46 -0400

-0.34% declined 0.4%. Marathon on Thursday said a deal to sell its 20% stake in the Canadian oil sands fell through and talks with a potential buyer have ...

Mothercare chief executive insists recovery on track despite fall in sales

Thu, 23 May 2013 13:38:39 -0400

Mothercare is crawling towards a recovery as chief executive Simon Calver insisted the UK company was on target to break even within two years.The mother and baby goods retailer saw UK sales drop 11% to 500m last year. It reported a loss of 21.7m, a slight improvement on the 24.7m loss recorded in the previous twelve months.The business turned in an impressive international performance, with ...

United Utilities bucks trend as FTSE 100 suffers biggest daily drop for a year

Thu, 23 May 2013 13:38:38 -0400

added 6p to 787.5p after the water company said it would raise its final dividend by 7.2% despite a 9.3% fall in full year profits, which was due to a decrease in deferred taxation credit.Peter Atherton at Liberum Capital said the numbers were in line with market ...

Falling investment poses another problem for Osborne

Thu, 23 May 2013 13:38:37 -0400

Ed Balls and Chuka Umunna chose their moment well. On the day that official figures showed that capital spending fell by 0.8% in the first three months of 2013, Labour released figures showing that Britain devotes a smaller share of national income to investment than any other G8 country. What's more, only Italy has seen a bigger fall in the investment share of GDP since 2010.George Osborne ...

What Microsofts Clever New Im A PC Im An iPad Spot Says About The Company

Thu, 23 May 2013 13:38:05 -0400

's largely unsuccessful 8-month campaign to market Windows 8 and its new Surface tablets got a reboot at last with a new spot that takes direct aim ...

Salesforce Earnings Climbing Costs Can Offset Revenue Growth

Thu, 23 May 2013 13:38:03 -0400

Salesforce.com is set to announce its Q1 fiscal 2014 (ending April 31, 2013) earnings on May 23. The company provides enterprise cloud computing and social enterprise solutions across businesses and is the market leader in cloud customer relationship management segment. We expect it to continue to post double digit growth driven by the growing adoption of its Sales Cloud and Service Cloud ...

Wagging the Dog Why Fed Fears Wall St.

Thu, 23 May 2013 13:35:46 -0400

the equity market has been a furtive goal of monetary policy--generally not part of Open Market Committee discussions but never far from mind. That surreptitious relationship came further into the open at the April 30-May 1 meeting, when Fed members discussed Wall Street expectations for the historically high level ...

Three More SAC Executives Subpoenaed

Thu, 23 May 2013 13:35:46 -0400

Three more senior executives at SAC Capital Advisors have received subpoenas to testify before a grand jury in the government's investigation into alleged insider trading at the hedge fund, Dow Jones reported. ...

Retailers Sue Visa and MasterCard

Thu, 23 May 2013 13:35:45 -0400

MasterCard on Thursday, breaking off from a proposed $7.2 billion settlement reached last year over fees to process credit-card transactions.The lawsuit was filed in the U.S. District Court in Manhattan on behalf of many retailers that opted out of receiving proposed damages from the settlement.That settlement, pending in federal court in Brooklyn, would end litigation on behalf of merchants that ...

ISS Settles Charges With SEC

Thu, 23 May 2013 13:35:45 -0400

Institutional Shareholder Services, a leading proxy advisory firm, will pay $300,000 to settle civil charges that one of its employees shared sensitive nonpublic information about clients' votes in exchange for favors, ...

The Rise of the Cyberadvisor

Thu, 23 May 2013 13:35:44 -0400

Betterment , Columbia finance professor Geert Bekaert is teamed with industry professionals with distinguished track records. For all the doomsday headlines, how much of a threat the sites pose to traditional advisors remains to be seen. "That's great for the smaller account," said Gordon Peterson, an investment manager in Dallas. "It's taken off particularly with young ...

FP Healthcare earnings soar

Thu, 23 May 2013 13:30:16 -0400

The contrasting fortunes of two of New Zealand's biggest technology manufacturers were highlighted when they both reported full-year results yesterday. Medical device manufacturer Fisher & Paykel Healthcare posted record annual net profit and revenue, while Rakon - which makes frequency control devices used in a range of applications including navigation devices and telecommunications ...

Microsoft to take Bing deeper into Windows Blue Xbox One

Thu, 23 May 2013 13:25:49 -0400

Microsoft's Bing is morphing from a "mere" search engine into more of a service that will power next-generation devices -- Windows Blue PCs and tablets, as well as the Xbox ...

Ply Gem shares rise in NYSE debut

Thu, 23 May 2013 13:23:09 -0400

PGEM.N ) rose as much as 14 percent in their market debut, valuing the company at about $1.55 billion, as investors tap into companies catering to the recovering U.S. housing ...

Carrefour falls back on doubts over emerging market retreat

Thu, 23 May 2013 13:23:08 -0400

CARR.PA ) shares dropped over 5 percent on Thursday, reversing gains from the day before, amid concerns the world's No. 2 retailer is pulling out of too many high-growth markets after the surprise sale of a Middle Eastern ...

Jobs housing data show economy has some muscle

Thu, 23 May 2013 13:23:03 -0400

The improving employment picture is helping to prop up housing, with rising home prices keeping domestic consumption supported, limiting the drag from tighter fiscal policy that is dampening factory ...

Large U.S. retailers sue Visa MasterCard over card fees

Thu, 23 May 2013 13:23:02 -0400

The lawsuit was filed in the U.S. District Court in Manhattan on behalf of many retailers that opted out of receiving proposed damages from the ...

Glencore says Iran metals swap deals did not violate sanctions

Thu, 23 May 2013 13:23:02 -0400

GLEN.L ) said on Thursday that it had done nothing wrong when it engaged in metal swaps with Iran, rejecting a suggestion by U.N. experts that such bartering could have been a way of evading sanctions against Tehran over its nuclear ...

Forest Labs longtime CEO Solomon to step down at year-end

Thu, 23 May 2013 13:23:00 -0400

FRX.N ) said Howard Solomon, its chief executive of more than 35 years, will retire at the end of this year, capping a tenure that saw the company morph from a small generic and vitamins maker to a $10 billion ...

Market Snapshot U.S. stocks shake off worst of drop H-P rallies

Thu, 23 May 2013 13:21:09 -0400

NEW YORK (MarketWatch) -- U.S. stocks fluctuated between small gains and losses on Thursday after Japanese equities dived overnight, as global markets reacted to weak Chinese manufacturing data and worries about the Federal Reserve potentially tapering its bond-buying ...

Netherlands Confirms Plan to Sell Urenco Stake

Thu, 23 May 2013 13:19:24 -0400

The Netherlands Thursday confirmed it plans to divest its 33% stake in Urenco Ltd., clearing the way for the sale of the world's second-largest nuclear fuel maker.Urenco supplies nuclear fuel to power plants in Europe and the U.S.The U.K. government also owns a third of the company, while Germany's top two utilities--E.ON SE (EOAN.XE) and RWE AG (RWE.XE)--hold equal shares of the ...

Lloyds to Sell $8.7 Billion U.S. Mortgage Portfolio

Thu, 23 May 2013 13:19:23 -0400

Lloyds Banking Group PLC is looking to auction about $8.7 billion of U.S. mortgage securities, a person with knowledge of the sale said Thursday.The assets are a mixture of risky non-government residential mortgage-backed securities issued by Wall Street banks before the financial crisis, according to Empirasign Strategies, a trade database. Demand for these bonds, known as nonagency RMBS, has ...

Tata Steel Posts Biggest Quarterly Loss on Write-Down

Thu, 23 May 2013 13:19:23 -0400

Tata Steel Ltd. (500470.BY) Thursday posted its biggest quarterly loss ever as the company took a large non-cash charge on some assets write-downs, including in its key European market.Tata Steel reported a net loss of 65.29 billion rupees [$1.17 billion] for the January-March period, compared with a profit of 4.33 billion rupees a year earlier. Sales rose 1.0% to 341.80 billion rupees.The ...

Goldman Sachs Says It Adopts All 39 Initiatives To Address Conflicts Of Interest Other Business Issues

Thu, 23 May 2013 13:19:22 -0400

Goldman Sachs Group Inc. (GS) said it has adopted all 39 initiatives it proposed to strengthen its business practices in the wake of the financial crisis, a step designed to help both employees and clients move past one of most challenging chapters in the firm's 147-year history.Goldman's business-standards committee, a group formed just as the public backlash against the firm and its ...

Industry view pipeline reality check

Thu, 23 May 2013 13:18:00 -0400

The site provides a link to a paper from the Pembina Institute that reports that "A U.S. EPA analysis found that Keystone XL would cause up to 27.6 Mt in additional or incremental greenhouse gas emissions compared to existing sources of crude oil. This estimate reflects the higher-than-average greenhouse gas emissions from extracting, transporting, upgrading and refining oilsands." ...

Twitter doubling revenue An investors dream

Thu, 23 May 2013 13:16:50 -0400

current valuation is almost $10 billion . But unlike the disappointment that became Facebook, the value may be low enough, and revenue growing fast enough, that investors will ultimately be satisfied -- when Twitter finally decides to hold its ...

Hobby Lobby challenges birth control coverage

Thu, 23 May 2013 13:16:50 -0400

DENVER In the most prominent challenge of its kind, Hobby Lobby Stores Inc. is asking a federal appeals court Thursday for an exemption from part of the federal health care law that requires it to offer employees health coverage that includes access to the morning-after pill. The Oklahoma City-based arts-and-crafts chain argues that businesses -- and not just the currently exempted religious ...

European stocks slump in wake of Tokyo plunge

Thu, 23 May 2013 13:13:32 -0400

LONDON (AFP) - European stock markets slumped Thursday, with most indices dropping more than 2.0 percent after Tokyo shares plunged owing to weak Chinese data and signs that the US Federal Reserve may soon taper massive stimulus measures, analysts said.London's FTSE 100 index of leading shares fell 2.10 percent to 6,696.79 points, while in Frankfurt the DAX 30 index also dropped 2.10 percent ...

New home prices rise at strongest rate on record

Thu, 23 May 2013 12:30:40 -0400

Furthering a trend that begin in early 2011, new home sales across the country increased to a 454,000-unit annualized pace last month, with year-over-year prices posting the strongest rate on record, according to new data from the U.S. Census Bureau. Economists at Wells Fargo Securities say that a 2.3 percent increase in sales from March to April exceeded analyst expectations. On a ...

Toro beats 2nd qtr. estimates despite cold spring

Thu, 23 May 2013 12:30:39 -0400

Sales and earnings rose despite unusually cold weather this year in North America and Europe that hurt residential sales of spring-related equipment, said CEO Michael ...

Oil falls after China manufacturing contracts in May US pump price at $3.66 as weekend nears

Thu, 23 May 2013 12:30:37 -0400

NEW YORK - The price of oil fell Thursday as weak manufacturing data from China raised questions about the strength of oil demand in the world's No. 2 economy. Oil's decline was exacerbated by sharp declines in global stock markets amid indications that the U.S. Federal Reserve's may pull back on its economic stimulus program. An earlier loss of $2 a barrel was trimmed by midday, ...

Shifting fortunes Which CEOs got the biggest pay cuts and the biggest raises

Thu, 23 May 2013 12:30:36 -0400

Here's a look at the CEOs that received the biggest raises and the biggest pay cuts in 2012 compared with 2011, as calculated by the executive pay research firm Equilar and The Associated Press. Whose pay rose the most: 1. Ronald Havner Jr., Public Storage, $15.4 million, up 456 percent 2. Dara Khosrowshahi, Expedia, $14.4 million, up 309 percent 3. Ralph Izzo, Public Service Enterprise ...

New antibody technology discovers drugs rapidly

Thu, 23 May 2013 12:30:09 -0400

The technology rapidly finds antibodies that can perform a variety of cellular functions, such as stimulating the growth of blood cells, modifying stem cells or imitating hormones. These are things antibodies don't normally do. In nature; these large protein molecules are made by certain white blood cells to fight invading ...

Foul lover launches thriving Rent-A-Chicken business

Thu, 23 May 2013 12:27:48 -0400

Folks are a-cluckin’ for Rent-A-Chicken-the first American business to offer hens on loan!Founder Leslie Suitor launched her feathery venture after neighbors in Traverse City, Michigan started cooing for local eggs as part of a growing farm-to-table trend. Now Suitor makes thousands of dollars a year loaning birds to folks all over North Michigan, and her operation has spurred a wave of ...

Alcoa police identify man who jumped from bridge

Thu, 23 May 2013 12:25:00 -0400

Jason Parks was admitted to the University of Tennessee Medical Center with non-life threatening injuries, according to Alcoa Police Department Det. Jason Ewing. Parks was listed Thursday in serious ...

Tesco will not pay executive bonuses

Thu, 23 May 2013 12:23:50 -0400

London - Tesco executives will not receive a bonus in the current financial year unless they can reverse a decline in profits at Britain's biggest supermarket operator, the company said in its annual report on ...

Microsoft mouse gets Windows 8 Start button

Thu, 23 May 2013 12:22:48 -0400

In the meantime the company is releasing a new computer mouse with a dedicated ';Start'; button, just behindits scroll wheel. The blue Windows button on the Sculpt Mobile Mouse launches the tiled home screen of Windows 8, which the company calls the ';Start screen.'; Used withWindows 7, the button launches the traditional ';Start'; menu. Presumablyit may be ...

European stock markets post heavy losses after Nikkei plunges 7 - live

Thu, 23 May 2013 12:22:29 -0400

BST The US stock market, though, is not joining in the selloff which began overnight in Japan and rippled around the globe. Almost halfway through the trading day, the Dow Jones index has just moved into positive territory - up 15 points at 15323. It takes more than a 7.3% plunge on the Nikkei to give Wall Street the ...

Tibetan activists launch boycott of InterContinental over hotel plans

Thu, 23 May 2013 12:22:27 -0400

The Potala palace in Lhasa, Tibet. Intercontinental Hotel Groups is involved in a 2,000-room resort due to open there next year. Photograph: Dan Chung for the ...

BT chiefs pay boosted by share price rise

Thu, 23 May 2013 12:22:25 -0400

BT chief executive Ian Livingston's annual earnings have risen to 8.5m, boosted by a rise in the company's share price which will also see 1,000 managers share windfall payouts averaging 120,000.Having overseen a 50% rise in BT's market value in the last year, Livingston has been granted shares worth 6m from the scheme, which was designed as a reward for a three-year turnaround ...

Xbox One Fan Reaction Shows Microsoft Has A Lot Of Work To Do

Thu, 23 May 2013 12:21:57 -0400

The crews have cleared away the demo stations and the journalists, analysts and publishers are back at work or traveling today, but the aftermath of the Xbox One reveal is being heard around the ...

Record High New Home Prices to Grow

Thu, 23 May 2013 12:19:31 -0400

Despite moderate moves higher in home sales, home prices are on a tear.The median price of a newly built home soared to $271,600, the highest level on record dating back to 1963, according to a new report from the U.S. Census. Prices are now 15 percent higher than they were a year ago for new construction and around ten percent higher for existing homes. "We've gone through a very long ...

HPs Whitman We Feel Good on Growth

Thu, 23 May 2013 12:19:30 -0400

Meg Whitman, CEO of Hewlett-Packard, shares insight on the firm's corporate earnings and turnaround plan. She tells CNBC's David Faber that revenue growth is possible in fiscal ...

Why Japans stock plunge unnerved Wall Street

Thu, 23 May 2013 12:13:37 -0400

NEW YORK -- It took Japan's biggest one-day stock plunge since the tsunami in March 2011 to remind investors around the globe that even a white-hot stock market can cool in a hurry when information changes and investors get spooked enough to question their investment thesis. In a span of 24 hours, the perception of stocks as the only investment worth owning in a world of rock-bottom interest ...

US STOCKS SNAPSHOT-Wall St pares losses Dow edges up

Thu, 23 May 2013 12:09:54 -0400

NEW YORK | Thu May 23, 2013 12:09pm EDT NEW YORK May 23 (Reuters) - U.S. stocks pared their losses on Thursday, with the Dow turning positive on strength in Hewlett-Packard Co and Boeing Co HP soared 14.1 percent to $24.22 a day after raising its profit outlook, while Boeing gained 1.9 percent to $99.82. The Dow Jones industrial average rose 3.90 points, or 0.03 percent, to 15,311.07. ...

Ranbaxy slumps after Daiichi Sankyo says was misled

Thu, 23 May 2013 12:06:04 -0400

Last week, Ranbaxy pleaded guilty to felony charges related to drug safety and agreed to pay $500 million in civil and criminal fines under a settlement with the U.S. Department of ...

New car sales seen up about 8 percent in May research firms

Thu, 23 May 2013 12:05:58 -0400

DETROIT (Reuters) - Auto sales in May are expected to rise about 8 percent and the annual sales pace should rebound back above 15 million vehicles after a disappointing result in the prior month, two research reports said on ...

Microsoft recruits Siri to bash Apple in new commercial

Thu, 23 May 2013 12:03:11 -0400

took aim at Apple and started to mock its products and users. Now, it appears Microsoft is going to try to take the same road to riches with Windows 8 and Windows RT. Alongside a new campaign that compares Windows RT tablets like the ASUS VivoTab Smart to the competition, Microsoft has debuted a clever ad that pits Apple's iPad against Windows RT. As the commercial shows off various ...

Refinery Status Exxon Reported Pipe Leak at Baton Rouge Refinery

Thu, 23 May 2013 12:03:07 -0400

The following table lists planned and unplanned production outages at U.S. refineries as reported by Dow Jones Newswires. The information is compiled from both official and unofficial refining sources and does not purport to be a comprehensive list.A leak was discovered in a process pipe at Exxon Mobil Corp. (XOM) Baton Rouge, La., refinery, the company reported May 22.Motiva Enterprises LLC said ...

State Bank of India Shares Battered After Fall in Profit

Thu, 23 May 2013 12:03:06 -0400

State Bank of India (500112.BY) Thursday reported a sharper-than-expected fall in its fiscal fourth-quarter net profit as the country's biggest lender by assets set aside more funds against bad loans, sending its shares down 8%.The bank said its net profit fell 18.5% to 32.99 billion rupees ($590.9 million) in the January-March period from 40.50 billion rupees a year earlier. The average of ...

J.P. Morgans McInerney Departs For Visa

Thu, 23 May 2013 12:03:06 -0400

J.P. Morgan Chase & Co.'s (JPM) consumer-banking head, Ryan McInerney, is joining payments company Visa Inc. (V) in the latest executive departure at the nation's largest bank.The New York bank said Thursday that it named Barry Sommers, J.P. Morgan's chief executive of wealth management, as Mr. McInerney's successor.Mr. McInerney is the second major J.P. Morgan executive ...

Sears Canada could be turning around despite Target

Thu, 23 May 2013 12:01:47 -0400

After an initial few weeks of blockbuster sales in Canada, Target Corp. has to get down to the serious business of selling in the categories where it counts: the repeat-business market segments dominated by Walmart and grocery ...

Sell cheap fuel and profit Delta Air Lines’ refining 101

Thu, 23 May 2013 12:01:46 -0400

NEW YORK -- Making money in the refining business is generally a pretty straightforward proposition: sell your fuel at the highest possible price relative to cost. But Delta Air Lines, the first carrier to expand into the refining business, is trying to find its profits by driving down the price of fuel as much as it can. So far, the airline is seeing the first sign of success: the ...

U.S. House passes bill to approve Keystone XL as White House vows veto

Thu, 23 May 2013 12:01:46 -0400

The U.S. House of Representatives passed legislation to approve the Keystone XL oil pipeline, the eighth time congressional Republicans have advanced a measure promoting the ...

Going gets tougher for TD as mortgage lending slows

Thu, 23 May 2013 12:01:43 -0400

One of the key strengths of the Canadian banks is their diversified business model, allowing them to derive earnings from operations in capital markets, wealth management, insurance and other sectors. The idea is that when one business isn’t doing so well, the others can pick up the slack. The trouble is that for the past several years the lion’s share of profits for all the players ...

Trans-Atlantic pact between Air Canada Lufthansa and United wins EU antitrust approval

Thu, 23 May 2013 12:01:43 -0400

Deutsche Lufthansa AG and United Continental Holdings Inc. reached a settlement with European Union antitrust regulators, ceding airport slots in Frankfurt and New York in exchange for approval of their A++ trans- Atlantic venture also involving Air Canada. The European Commission said that the airlines also committed to reach ticketing and flight connection agreements with competitors as part ...

New home sales climb 2.3 percent in April

Thu, 23 May 2013 12:00:30 -0400

WASHINGTON Sales of new homes rose in April to the second highest level since the summer of 2008 while the median price for a new home hit a record high, further signs that housing is recovering. New-home sales rose to a seasonally adjusted annual rate of 454,000 in April, the Commerce Department said Thursday. That was up 2.3 percent from March and just slightly below January's 458,000. ...

Help My boss is promoting the wrong person

Thu, 23 May 2013 12:00:30 -0400

(MoneyWatch) Dear Evil HR Lady,I'm writing because I don't know how to handle my entitled, know-it-all, gets-away-with-murder coworker. I work in a small office of four people, and I've been the HR assistant (doing generalist work) for five years now. The payroll coordinator thinks that, because she has been here the same length of time and has seen what we all do and gets the ...

Stocks open sharply lower

Thu, 23 May 2013 12:00:29 -0400

Jobless claims fall to 340K Stocks were down 2.7 percent in Germany and 2.6 percent in France. Japan's Nikkei plunged 7 percent but is still up 39 percent this year. Investors were spooked by minutes from the latest Fed meeting indicating that several policymakers are leaning toward slowing the central bank's bond-buying program, which has been keeping interest rates low and encouraging ...

RPT-Apple enjoyed Irish tax holiday from the start

Thu, 23 May 2013 12:00:08 -0400

Thu May 23, 2013 12:00pm EDT By Poornima Gupta and Padraic Halpin SAN FRANCISCO/DUBLIN May 23 (Reuters) - Apple has operated almost tax-free in Ireland since 1980, welcomed by a government keen to bring jobs to what was then one of Europe's poorest countries, former company executives and Irish officials have said. Chief Executive Tim Cook faced criticism from a Senate subcommittee in ...

Borders Gift Card Holders Left With Squat

Thu, 23 May 2013 11:57:46 -0400

(Image credit: Mandel Ngan/AFP/Getty Images) A judge ruled on Wednesday that customers who hold $210.5 million in gift cards from the defunct Borders chain aren’t eligible for refunds. About 17.7 million gift cards were outstanding when Borders began liquidating its stores in July 2011 after failing to attract offers for the company. Judge Andrew Carter for the U.S. District Court in ...

Former Chrysler Fisker CEO launches venture fund with Penske

Thu, 23 May 2013 11:46:32 -0400

By Deepa Seetharaman DETROIT | Thu May 23, 2013 11:46am EDT DETROIT May 23 (Reuters) - Tom LaSorda, the former chief executive of Chrysler Group LLC and Fisker Automotive, is launching a venture capital fund with racing magnate Roger Penske to invest in technology startups. The fund, IncWell LP, will provide initial investments ranging from $50,000 and $250,000. IncWell has "strong ...

US stocks sink after global rout

Thu, 23 May 2013 11:18:54 -0400

NEW YORK (AFP) - US stocks fell modestly Thursday after the plunge in the Japanese market sparked a selloff throughout Asia and Europe.A little more than an hour into trade, the Dow Jones Industrial Average was down 68.35 points (0.45 percent) to 15,238.82.The broad-based S&P 500 dropped 11.74 (0.71 percent) to 1,643.61, while the tech-rich Nasdaq Composite Index fell 13.91 (0.40 percent) to ...

Stocks fall in early trading on Fed stimulus concern contracting Chinese manufacturing

Thu, 23 May 2013 11:16:36 -0400

NEW YORK - Stocks fell in early trading, extending a sell-off that began Wednesday afternoon, after Chinese manufacturing unexpectedly contracted and on concern that the Federal Reserve may ease back on its stimulus program. The Dow Jones industrial average was down 50 points at 15,256 as of 10:28 a.m., a decline of 0.3 percent. It had been down 127 points in the early going following steep ...

What to know about refinancing

Thu, 23 May 2013 11:16:08 -0400

The housing market is soaring in part because mortgage rates have never been this low. However, rates have been slowly climbing back up with the improvement of the economy and better-than-expected jobless claims. Refinancing and lowering your rate can be a great way to increase cash flow if you are planning on holding onto the property as a long-term investment ...

Apricus sets offering price at $17.1 million

Thu, 23 May 2013 11:16:07 -0400

The shares include warrants to buy up to 3 million shares at an exercise price of $3.40 per share. Apricus has given underwriters a 30-day option to buy up to an additional 900,000 shares and warrants to buy up to an additional 450,000 shares to cover over-allotments, if ...

Financial Stocks Citi leads financial stocks lower

Thu, 23 May 2013 11:12:04 -0400

NEW YORK (MarketWatch) - Financial stocks tipped lower Thursday, tracking a drop in the broader global equities markets on concerns the Federal Reserve will reduce its bond-buying program and a drop in China's manufacturing index for ...

Tech Stocks H-P a big gainer as other techs trim losses

Thu, 23 May 2013 11:12:03 -0400

SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. shares flexed their muscles, and some other tech stocks advanced as the sector tried to pull itself out from big, early losses spurred by negative reaction to a slate of economic ...

Bond Report Treasurys benefit from flight-to-safety bid

Thu, 23 May 2013 11:12:03 -0400

NEW YORK (MarketWatch) -- Treasurys were beneficiaries of investors' flight to safety on Thursday as global stock markets posted sharp losses, but lost most of their gains as the day wore ...

Ford Motors to Leave Australia After 90 Years

Thu, 23 May 2013 11:09:50 -0400

Ford Motor Company announced Thursday that it would stop making cars in Australia within two years because high costs and low volumes mean it cannot compete with imported vehicles. Ford Australia chief Bob Graziano said that closing its plant in Melbourne and the other 60 kilometres further south-west in Geelong would see 1,200 workers laid off by October 2016. "Our costs are double ...

Savers face limited options despite fall in inflation rate

Thu, 23 May 2013 11:08:58 -0400

Savings for most continue to be eroded and there are only limited choices for those wanting to beat inflation. Photograph: Katherine Rose for the ...

Markets Global shares slide Spanish bond yields rise

Thu, 23 May 2013 11:08:27 -0400

Asian stocks plunged Thursday with Japan's Nikkei 225 plunging almost 7.3%; markets are down by 2% on average in Europe and they have opened off in New ...

Companies Try to Outwit Mother Nature

Thu, 23 May 2013 11:06:03 -0400

disastrous tornadoes in Moore, Okla., and last October's Hurricane Sandy, it has never been more critical to be able to forecast long range events. Big data analysis is turning the guesswork of yesterday's meteorology into a more precise and predictive science. Several big data companies are focusing on long-term weather modeling, and have found that by identifying patterns, comparing ...

Bernanke and IRS Two Brewing Storms

Thu, 23 May 2013 11:06:03 -0400

Fed Chairman Ben Bernanke may have opened the first one. No matter that it is highly unlikely economic data will come in showing sufficient strong and sustained growth to justify tapering bond purchases any time soon ...

GameStops mobile digital sales rise earnings drop

Thu, 23 May 2013 10:58:34 -0400

GameStop reported an increase in digital and mobile sales but a decrease in earnings during its first quarter. GameStop Corp. reported a jump mobile and digital sales during its first quarter, but the companys earnings and sales of new software and hardware are still on the decline. The Grapevine-based gaming company reported a 290 percent increase in mobile sales of $46.8 million during its ...

China formally approves Boeings Dreamliner for use

Thu, 23 May 2013 10:52:41 -0400

BA.N ) 787 Dreamliner for use in the country, clearing the way for Chinese airlines to start operating the aircraft, which has been plagued with ...

Movers Shakers Thursday’s movers Hewlett-Packard leads SP 500

Thu, 23 May 2013 10:50:58 -0400

SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. is back on top again on Thursday, leading the S&P 500, as the stock surged 13% in the wake of better-than-expected quarterly ...