Latest Breaking Business News
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Is Yahoo Paying Too Much for Tumblr
Morning Business Memo… Yahoo is spending $1.1 billion to buy the six-year-old blogging site Tumblr. The acquisition is the biggest yet for Yahoo CEO Marissa Mayer, and is part of her continuing push to give Yahoo credibility with a younger crowd, and make it a big player in the rapidly expanding world of social media and mobile devices. Tumblr is a popular site with an estimated 100 ...
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Effector Therapeutics raises $45 million
Effector was founded on technology licensed from UC San Francisco. The company is developing small-molecule drugs to block protein synthesis mechanisms required for cancers caused by certain malfunctioning oncogenes. Effector will also use the protein synthesis technology later in other areas, Worland ...
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Wall Street Turns Cautious As It Awaits Fresh Catalysts
Trading in the major U.S. index futures suggest a cautious start by Wall Street stocks on Monday following their record run in the previous weeks. Earlier in the global trading day, armed with optimism concerning the ...
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Eliminating neglected tropical diseases how to reach the targets
Create synergies with other disease-specific advocates: Broadening the NTD community reach should include working with other disease-specific advocates to look at the synergies between NTDs and other diseases with high global burdens such as TB, malaria, HIV & Aids, and diarrhoea? If we can get other health advocates talking about NTDs, we stand a greater chance of increasing the pressure on ...
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QE Halt Too Violent for Market Feds Fisher
Federal Reserve should not go from "wild turkey" monetary policy to "cold turkey" overnight, Dallas Fed President Richard Fisher told CNBC on Monday, saying that when to dial back is the key because stopping would be "too violent for the market." Fed ...
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Goldman Sachs to Exit ICBC Report
Goldman Sachs on Monday launched the sale of about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China, offering to sell its entire remaining stake in the world's biggest bank by market value. The sale by Goldman would be the final chapter in the Wall Street bank's investment into China's ICBC. Prior to its 2006 IPO, ICBC was a technically ...
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Bison Eyes London Float Amid US Fracking Boom
UK stock market investors are poised to gain their first exposure to the fracking boom sweeping the US energy market through the flotation of Bison Energy Services. I understand that Bison, whose operations are focused solely on the US, has begun gauging the appetite of investors to invest about £40m in the company, which would list on the junior AIM market. Bison would be the first ...
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EU law key to ending too big to fail banks BoEs Tucker
View Photo Reuters/Reuters - The Deputy Governor of the Bank of England, Paul Tucker, addresses the International Association of Deposit Insurers Annual Conference in London October 25, 2012. REUTERS/Neil ...
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Shrinking U.S. deficit reduces pressure for budget deal
By Jason Lange and David Lawder WASHINGTON (Reuters) - The chances of a deal between Democratic and Republican lawmakers that would overhaul the U.S. tax system, trim government spending and reform safety net spending programs appear to be fading. ...
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GE Capital plans to pay $11 billion in dividends to GE
(Reuters) - GE Capital Corp's board has approved a plan to pay $6.5 billion in dividends and a further $4.5 billion in special dividends to parent General Electric Co ...
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Monster machines fan out on U.S. farms facing slow sow
SHERIDAN, Illinois (Reuters) - With the U.S. spring planting season off to a historically slow start, an increasing number of farmers are counting on powerful tools to catch up: Monster machines that sow 36 rows of corn at once and feature high-tech innovations like computer-guided directional ...
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Gulf wealth funds raising private equity investments study
DUBAI (Reuters) - Sovereign wealth funds in the Gulf Arab region are raising their allocations to private equity investments at a faster rate than other types of investment, U.S. fund manager Invesco ...
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Vodafone withdraws from BT mobile partner talks sources
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new ...
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Goldman Sachs selling ICBC stake for $1.1 bln
+2.40% is selling its entire stake in Industrial & Commercial Bank of China Ltd. for around US$1.1 billion, exiting an investment it made in China's biggest bank seven years ...
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HSBC Chairman Premature to Review UK Domicile
HSBC Holdings PLC (HBC) Chairman Douglas Flint said Monday that it's premature to review its decision to be based in London before global regulations are settled."The regulation landscape is changing, still...quite significantly," he said during a shareholders' meeting."Until that is done, it is very difficult" to decide where an international bank should be based, ...
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UK Business Minister RBS Lloyds Too Risk-Averse on Loans to Firms
The Royal Bank of Scotland Group PLC (RBS) and Lloyds Banking Group PLC (LYG) are still detering smaller British companies from borrowing due to overly strict conditions, hindering an economic recovery, Business Secretary Vince Cable said Monday.The government controls RBS and has a minority stake in Lloyds, two of the biggest banks in the U.K., but Mr. Cable said "there isn't a simple ...
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Chinese Communist Party Expels Former Agricultural Bank Executive -Xinhua
A former vice president of Agricultural Bank of China Ltd. (601288.SH), the country's third-largest lender by assets, has been expelled from the Chinese Communist Party for taking bribes, the state-controlled Xinhua News Agency reported Monday.Yang Kun, a former executive director and vice president of the bank, was found to have taken bribes, Xinhua reported, citing the results of an ...
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Gold Slump Hits Silver
Gold's longest slump since the financial crisis extended for an eighth day, with the tumble spilling over into silver, which fell to its lowest level since 2010.Falling appetite for the safe haven of gold has pushed the metal down 20% since the start of the year as inflation fears faded and global growth improved. In Asia, investors have zeroed in, especially on Japan where the central ...
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UK Business Leaders Say Economic Case For UK Staying In EU Is Overwhelming
A group of top U.K. business leaders Monday said the financial case for Britain staying within the European Union was overwhelming and accused lawmakers promoting an exit from the bloc as putting "politics before economics".In a letter to The Independent newspaper, the group called for the government to fight to deliver a more competitive Europe in order to combat the criticisms of ...
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RPT-New Xbox more than a game console for Microsoft
Mon May 20, 2013 6:59am EDT * Microsoft set to unveil new Xbox Tuesday * Renews contest with Sony, Nintendo for $65 bln game market * Xbox key to Microsoft's broader push into consumers' lives By Malathi Nayak and Bill Rigby SAN FRANCISCO/SEATTLE, May 18 (Reuters) - Microsoft Corp is set to make a splash this week with the eagerly awaited unveiling of its new Xbox game console, eight ...
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Market Snapshot Stock futures flat no data Fed’s Evans to speak
MADRID (MarketWatch) -- U.S. stock market futures pointed to a flat open on Monday, with investors seen taking a breath after a blockbuster prior week. There's no data on the calendar, though Chicago Federal Reserve President Charles Evans is due to ...
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How going pop-up helped us sell our ponchos
Katy Isaacs and Julia Wonke, co-founders of poncho company Rainwave, started online but jumped at the opportunity to use a pop-up space on the King's Road. Here Katy tells their ...
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Monday Newspaper Review - Irish Business News and International Stories - - May 20 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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Hedge Fund Owner Cohen Gets Subpoena to Testify
SAC Capital Advisors , a development that signals a newly aggressive phase in the multiyear inquiry, according to lawyers and executives briefed on the case.Issued last week, the grand jury subpoena came as part of a broader round of requests from criminal authorities. Other SAC executives were also named in the subpoenas, the lawyers and executives said, and the fund itself received requests ...
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Stocks Getting Scarce as Rally Sees No End
Federal Reserve and other central banks is limiting supply of stocks, as well as fueling asset bubbles, analysts warned on Monday. "We do not think investors fully grasp the degree to which the Fed's easy money policies are helping limit the supply of shares and boost the demand for shares," said David Santschi, the CEO of TrimTabs Investment Research, in a note on Monday. He ...
Mexico City Feature Story
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Mexico City launches eco-friendly and cash friendly project
Mexico City has joined a global movement that has taken many major city municipalities by storm in recent years, the eco-friendly movement of bicycle-sharing. The city joins the ranks of Montreal, Paris, Barcelona and many other major cities across Europe and the world, such as Beijing in China and Melbourne in Australia. The scheme, once rolled out in its entirety, is expected to play a part in relieving some of the burden on Mexico City’s streets.
Mexico City, the largest and richest city in Mexico, is also one of the worst for traffic jams. A recent study by IMB, the IMB Commuter Pain Study, found Mexico City and Beijing to be the two worst cities in the entire world for traffic jams, ours are among the longest and most frequent with the city getting a score of 99 out of 100 on the commuter pain index, this compared to Stockholm, which scored 15. Read more
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