Latest Breaking Business News
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Appeals court directs Ex-Im Bank to explain rationale for loan guarantee to Air India
WASHINGTON - A U.S. appeals court has upheld a decision by the U.S. Export-Import Bank to finance the sale of 30 Boeing wide-body jets to Indian state-owned carrier Air India in a legal challenge brought by Delta Air Lines to the loan guarantee. The court has however directed the government-run bank to better explain its rationale for providing loan guarantee, which Delta claimed as a ...
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Google renews efforts wipe out child porn images from internet
LONDON - Internet giant Google said it is spending $5 million to wipe images of child abuse off the Internet and another $2 million to create tools to find the images and eradicate them. "We're in the business of making information widely available, but there's certain 'information' that should never be created or found," wrote Jacqueline Fuller, director of Google Giving, in a blog post. ...
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GSK negotiating sale of thrombosis drug and plant to Aspen
DURBAN / LONDON - South Africa's biggest generic drug maker Aspen Pharmacare and its subsidiary Aspen Global Incorporated have made an offer to acquire thrombosis drugs and their associated manufacturing site at Notre Dame de Bondeville, France, from GlaxoSmithKline (GSK). "AGI will acquire from GSK the Arixtra and Fraxiparine/Fraxodi brands and business worldwide, except in China, Pakistan ...
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Carbon trading to begin in Shenzhen in bid to cut emission
BEIJING - China, the world's biggest carbon emitter, is set to launch Tuesday its first carbon trading scheme as a pilot project in the southern city of Shenzhen as part of efforts to cut emissions in its key cities. Carbon emissions trading schemes are meant to encourage companies to reduce their carbon dioxide emissions by setting a limit or a cap, on the level of emission that can be ...
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Rise in transportation costs push up UK inflation to 2.7pc
LONDON - The consumer price index (CPI) inflation increased to 2.7% in May, up from 2.4% in April, mainly due to higher fuel costs pushing up transportation costs particularly airfares, the Office for National Statistics (ONS) said Tuesday. The ONS said the rise was due to a record increase in airfares and higher fuel prices. "The inflation rate has returned to the levels seen between ...
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Quake studies cut short by nuke shutdown
The operator of the San Onofre Nuclear Generating Station is likely to scale back a robust slate of earthquake studies as it moves forward with retiring the coastal power ...
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Statuesque San Diego County
San Diego is home to some wonderful examples of public art. Above, "Magic Carpet Ride" by artist Matthew Antichevich goes through odd transformations, as you'll see in the next slide.Did we forget your ...
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We were not leaned on over branch sale says Lloyds
The bosses of Lloyds Banking Group have denied that they were told by politicians to favour the sale of more than 600 branches to the Co-op over rival ...
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Banking reform after the crash
Today's parliamentary report on the flaws and failure of banking and banking regulation is nearly 600 pages long and the product of months of work, but it needs to be read in the light of one big fact. At the height of the banking crisis, every man, woman and child in Britain stuck 19,271 each behind the banking sector. According ...
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Andrew Tyrie carves out role as inquisitor-in-chief of financial crisis
Andrew Tyrie, a former adviser to Conservative chancellors Nigel Lawson and John Major, joined parliament in 1997. Photograph: Kirsty ...
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Pay cuts imposed on top civil servants could lead to exodus of talent – auditor
pay and conditions of senior civil servants have deterred private sector managers from taking up Whitehall jobs and could result in an exodus of talent, the government's independent auditor has warned.A report by the National Audit Office concludes that there are "clear capability gaps" in the ...
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Jail threat for reckless bankers among proposals to clean up banking system
George Osborne is facing pressure to radically overhaul Britain's banks by introducing a new law to jail bankers for "reckless misconduct" and force bankers to wait up to 10 years to receive their bonuses.The proposals, among the key measures recommended in a major report by the parliamentary commission on banking standards, also include a call on him to consider breaking up the ...
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Jo Swinson proposes streamlined appeals system for businesses
regulators from introducing consumer-friendly measures will be curbed under proposals published by the government on Wednesday.The Business minister, Jo Swinson, is proposing a streamlined appeals system for challenging decisions by the UK's economic regulators, which ...
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Food packaging traffic lights to signal healthy choices on salt fat and sugar
Research found consumers ignored food labels when more than one system was used, such as traffic lights and guideline daily amounts. Photo: Press ...
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Microsoft Dynamics ERP software now available on the Azure cloud
IDG News Service - Microsoft is upping the stakes in the growing market for cloud-based ERP, with its Dynamics GP 2013 and NAV 2013 products now available for deployment on its Azure service. The launch, announced Tuesday, gives customers another option for cloud-based ERP (enterprise resource planning) services besides NetSuite, SAP Business ByDesign and others. It's a bit late in coming, ...
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Fed May Not Be Able to Tame Volatile Trading
"That's how I see it. Tomorrow is dangerous," said Art Cashin, director of NYSE floor operations at UBS. Financial markets always watch the Fed, and they always hang on every word of Fed policy. But the Fed's ...
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Thomas Jackson Judge who tried to split up Microsoft
Thomas Penfield Jackson, who died of cancer on 16 June at the age of 76, was a federal judge in Washington who presided over a Microsoft antitrust case and ordered the software giant to be split up. He also presided over the the drug possession trial of the former Mayor of Washington, Marion ...
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UKs Osborne to unveil future of state-controlled banks
Britain's Chancellor of the Exchequer George Osborne speaks at the Confederation of British Industry (CBI) annual dinner in London May 15, ...
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Dolce and Gabbana face verdict on alleged tax evasion
MILAN (Reuters) - An Italian court is expected to rule on Wednesday on whether legendary fashion duo Domenico Dolce and Stefano Gabbana should be sent to prison for allegedly hiding hundreds of millions of euros from the tax ...
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Dish abandons Sprint bid to focus on Clearwire
Workers build a booth for Dish, a satellite TV provider, as they prepare for the International CES show at the Las Vegas Convention Center in Las Vegas, Nevada January 4, ...
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The equity markets have been in a seesaw recently
The appetite for risk improved cautiously in the US on Tuesday, as the market hunted for clues from the Fed meeting ending Wednesday. The equity markets have been in a seesaw recently while trying to gauge the Fed's pace of tempering its quantitative easing.The foreign currencies ended divergently again on Tuesday. Euro and franc ended higher, and the yen, pound and the commodity currencies ...
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Fewer Canadian businesses forecasting more losses Conference Board
OTTAWA -- Many Canadian businesses are still struggling to turn a profit, although fewer are forecasting more losses, according to the Conference Board of Canada. The Ottawa-based think-tank said Tuesday its profitability index rose by 0.1 points in May -- the smallest increase in nine months. The board said profit increases, while meager, are being supported by "stronger performances in ...
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Scotia ‘failed to comply with trading supervision obligations’ IIROC settlement
Scotia Capital Inc., the capital markets division of Bank of Nova Scotia, has agreed to pay a fine of $150,000 to settle allegations it failed to implement policies and procedures to prevent and detect potential wash trades and artificial pricing transactions related to high closing. Scotia "admitted that it failed to comply with its trading supervision obligations," according to a ...
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Jeep No Recall But New Trailer Hitches
Chrysler said today that due to customers’ ';raised concerns'; it would add or replace trailer hitches on some older model Jeeps now at the center of a safety debate between the automaker and the U.S. government. Mike Palese, a Chrysler spokesman, told ABC News today that the trailer hitch would ';provide more ability to absorb some crash forces'; in rear-impact ...
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Australia shares seen bouncing on strong Wall St weaker A$
SYDNEY, June 19 (Reuters) - Australian shares are expected to rebound on Wednesday, after Wall Street rose for a second straight day as investors bet the Federal Reserve will maintain its stimulus support for the world's biggest economy. A weaker Australian dollar may also benefit stocks with overseas exposure. * Local share price index futures rose 0.7 percent to 4,855.0, a 40.6-point ...
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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