Latest Breaking Business News
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Canada threatens to retaliate against change in US meat labeling rules
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 ...
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After breaches Twitter beefs up security with two-step login
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 ...
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Irish biotech firm Elan rejects revised Royalty Pharma bid
DUBLIN/ WASHINGTON Ireland-based biotechnology firm Elan Thursday rejected Royalty Pharma's increased $6.4 billion takeover bid, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one share. Royalty raised its hostile cash bid to $12.50 per share on Monday, from $11.25 previously, but made the new offer conditional on Elan shareholders rejecting, at a ...
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Import alert by USFDA hits Wockhardt shares
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 ...
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Ford Motor to shutdown 2 units in Australia
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 ...
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IMF warns UK against continuing austerity programme
LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...
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Americans plan summer vacations but with incomes stagnant some families keep trips modest
NEW YORK - This summer, high rollers are flying to lavish hot spots for their vacations. The rest of us are driving to less luxurious places like nearby campgrounds. The good news: At some U.S. campgrounds these days you get live bands, air guitar contests and chocolate pudding slip `n slides. Americans' plans for summer travel mirror the current state of the economy. Rising home prices ...
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Yahoo among bidders for Hulu sources
Yahoo! jumped into the bidding today for Web video destination Hulu, The Post has learned. Sources close to the process say the bids from Yahoo! and half a dozen other suitors value Hulu north of a billion dollars. If Yahoo is successful, it could be CEO Marissa Mayer’s second $1 billion deal inside a month. The company just acquired micro-blogging service Tumblr for $1.1 billion.Yahoo ...
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Weird weather a boon for BrandAlley
Model Amy Hannam has some last minute adjustments made at the BrandAlley garden at the Chelsea flower show in London. Photograph: Andrew ...
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Rupert Murdoch plans to poison News Corp takeover bids
The plan will act as a powerful disincentive to anyone seeking to challenge Rupert Murdoch's control of the two companies. Photograph: Facundo ...
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Vince Cable The traditional high street banks have forgotten how to lend
When Jonathan Eddy wanted finance for his Basingstoke-based business, one of the traditional high street banks offered him a competitively priced loan - but then threw in fees that made it too expensive for him to proceed. Eddy, managing director of Asset Advantage, has a clear view why. "The traditional high street banks have forgotten how to lend," he ...
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Energy suppliers held back gas during UK shortage
gas in storage tanks at a time when the market ran into an acute shortage two months ago, triggering a doubling of wholesale prices.The revelations came after claims the UK was within six hours of running out of gas completely on 22 March and will feed rising public and political anger over soaring power bills and previous allegations of market manipulation.The National Grid, which keeps data on ...
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METALS OUTLOOK Gold Market To Watch Economic Data Options Expiration
Ben Bernanke on Wednesday regarding the fate of the Fed's bond-buying program. Worries that the Fed will taper off its asset purchases to stimulate the U.S. economy have hit gold and other markets, and the results of economic data releases will color traders' perceptions of what the Fed might do with the program. Market participants said they'll also watch to see how the Comex ...
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Motherhood and Trading Are Doable
If a man will never share it, how can Jones know what it does to a woman's psyche? Paul Tudor Jones is a macro trader of obvious skill and intellect, but I wonder if he has even considered the possibility that his statement might not hold water over time. One could have said something similar years ago about doctors. Today there are just as many women graduating medical school as men. ...
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Cut the Hassles of Summer Travel
There's a lot that can go wrong on a summer vacation. You can pay too much for a plane ticket, get stuck in a lousy hotel or get sick in a foreign country. The best way to reduce your odds of having a vacation nightmare is to plan ahead and know how to work the system. If you're looking for a travel deal, like to cruise and aren't worried about a rash of recent problems at ...
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Beware Postcards Promising Free Trips
Baited mousetraps are landing in mailboxes around the country in the form of postcards and letters promising two round-trip airline tickets plus a hotel room or a free cruise if you call a toll-free number right away. These "award notices" often include the names of major airlines and well-known hotels. But the real companies have nothing to do with the notices. "These are ...
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Fixing Bridges Corporate Taxes Op-Ed
one estimate , there are more than 68,000 "structurally deficient" bridges in America. Another report suggest we need to spend more than $20 billion annually just to work through our bridge backlog by ...
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European stock markets steadier after sharp drop
LONDON/HONG KONG--European stock markets rebounded modestly on Friday, following sharp losses suffered the previous day, failing to record bigger gains despite positive German economic ...
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Oil market slips ahead of US economic data
Brent North Sea crude for delivery in July dipped nine cents to US$102.35 a barrel, one day after striking a three-week low at US$100.64 on the back of poor Chinese economic data. New York's main contract, light sweet crude for July, slipped 35 cents to US$93.90 a barrel. Dealers meanwhile set aside news of bright news on eurozone powerhouse economy Germany. German business confidence rose ...
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State Department posts feedback on Keystone pipeline
WASHINGTON (Reuters) - The State Department says it is taking the unusual step of releasing publicly the feedback it has received about a controversial pipeline project after an "unprecedented" response to its draft environmental ...
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Exclusive DBRS to rate all euro zone sovereigns by year-end
An illuminated euro sign is seen in front of the headquarters of the European Central Bank (ECB) in the late evening in Frankfurt January 8, ...
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DOJ subpoenas documents on Forest Labs inhalation drug
FRX.N ) received a subpoena earlier this month from U.S. prosecutors requesting documents relating to its small-selling lung disorder product, the Tudorza Pressair inhaler, the company said in a ...
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Chiles BCI Bank Acquires Bankias City National For $882.8 Million
SANTIAGO, Chile – Banco de Credito e Inversiones SA (BCI.SN), Chile's third largest private bank in terms of loans, said in a filing with the local banking overseer it agreed to purchase Spanish Bankia SA's (BKIA.MC) City National Bank of Florida for $882.8 million.The purchase, which it said will close in the first quarter of next year, represents 12.6% of the bank's market ...
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Citibank Asks U.S. Court for Argentina Bond-Payment Assurances
Citibank has asked a U.S. district court to confirm that its Argentine banking unit isn't bound by a ruling that bars the Argentine government from making payments on bonds it issued under New York law.Despite a previous ruling to that effect, Citibank is once more seeking assurances that payments made on Argentine law bonds held in custody at Citibank Argentina are beyond the reach of any ...
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Dont Buy Talk of Dollars Demise
The demise of the U.S. dollar as the world's go-to currency appears to have been greatly exaggerated. Pointing to the scary 2008 financial crisis and America's bloated budget deficit, greenback haters have predicted the eventual move away the dollar for years, suggesting potential alternatives like the euro, gold and China's currency. But the dollar's status as the ...
Shanghai Focus
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Shanghai looking ahead to future
Shanghai is the commercial capital of China and the most populous city in the People’s Republic, with origins as a small fishing village, the city has grown into a global city with fingers that stretch across the world, exerting global influence over international cultural, commercial and political scenes. With major projects and programs underway, the future looks bright for Shanghai.
It was recently reported by international, Chinese and Shanghai news media that China had eclipsed Japan as the second-largest economy in the world. China’s GDP and economic activity has surpassed that of Japan for many decades, but the announcement was made on the back of a range of factors including imports and exports and the human development index within major cities such as Shanghai. Read more
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