Latest Breaking Business News
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Workers demand more action from Italian government
Protesters marching in the tens of thousands rallied in Italy on Sunday to rail against the policies of the new coalition government. Around 100,000 protesters, led by trade unionists, converged on Rome to wave red flags and placards, urging changes to austerity measures. The union-led crowd called for the new government of centre-left Prime Minister, Enrico Letta, to focus on job ...
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Americans find happiness in household wealth
Americans are at their most optimistic since 2007 according to a Thomson Reuters/University of Michigan index of consumer sentiment. The preliminary index has shown optimism increased to 83.7 in May as stocks surged and real estate climbed. With record stock prices boosting household wealth and unemployment down in some areas, consumers were able to see their way through the effects of ...
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Construction begins on new island off Jumeirah Beach in Dubai
Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...
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Hackers take on Financial Times web site
Britain's Financial Times was hacked last week by a mysterious group calling itself the Syrian Electronic Army. The newspaper's technology blog was hacked to display a slogan saying: "Hacked by the Syrian Electronic Army." Several Twitter feeds run by the Financial Times were also plastered with similar slogans. The FT later said its blogs and social media accounts had been compromised ...
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Digital world creeps up on Target
Target Corp has opened a new office base in San Francisco in order to discover technology ideas. With the second-largest US retailer trying to grow its online commerce business, a Technology Innovation Center has been set up to develop mobile commerce, which has become a particular focus of retailers because new technology allows people to use their mobile devices to shop. With a huge ...
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Hackers get into important Saudi websites
The Saudi Arabia state news agency has reported a coordinated attack on the country's government websites. Several government websites in Saudi Arabia came under heavy cyber attacks last week, shutting them down for a short time. The attacks have been traced to IP addresses from a number of countries. Saudi investigators found the attacks had been launched from hundreds of Internet ...
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At noon Wall Street little changed deals provide support
U.S. stocks were little changed on Monday as acquisition activity gave support but investors were reluctant to rush into the market with indexes hovering around record levels.Deals including Yahoo Inc.'s $1.1-billion (U.S.) bid for Tumblr Inc. indicate that companies continue to search for growth through acquisitions, a bullish sign for stocks. Yahoo was up 0.8 per cent at ...
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Financial Stocks Bank of America leads financials higher
NEW YORK (MarketWatch) - Financial stocks were up in early trades on Monday, continuing their winning streak ahead of Fed Chief Ben Bernanke's testimony to Congress on ...
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Tech Stocks Yahoo shares edge up after Tumblr deal
SAN FRANCISCO (MarketWatch) -- Yahoo Inc.'s $1.1 billion acquisition of blogging-service operator Tumblr claimed the tech sector's spotlight on Monday, with the deal seen as a potential gamble by Chief Executive Marissa Mayer in her attempts to reinvigorate the one-time Internet ...
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Wall St dips but deals lend support
Deals including Yahoo's $1.1 billion bid for Tumblr indicate that companies continue to search for growth through acquisitions despite record highs, a bullish sign for ...
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David Cameron told to stop moralising to multinationals over tax
David Cameron , calling on him to stop "moralising" on how multinational corporations should be taxed.Roger Carr, flanked by some of the country's most powerful global business leaders, trooped into Downing Street on Monday for a 3pm meeting of the prime minister's business advisory group. Around the table were chief executives of the UK ...
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Tesco eyes China JV
Tesco, Britain's largest retailer, plans to establish a joint venture in China, a bid to control its capital expenditure in global expansion, the Financial Times reported Monday. The supermarket chain that came here in 2004 is seeking partners in China for the venture, the report said, citing three sources close to the matter. Analysts said China Resources Company is the most suitable ...
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Local stocks extend run-up following Wall Street rally
Stock markets in Shanghai and Shenzhen carried their recent winning-streak into Monday as Wall Street's rising tide buoyed most A-shares.The benchmark Shanghai Composite Index added 0.75 percent, or 17.12 points, to close at 2,299.99; while the Shenzhen Component Index added 0.66 percent, or 60.87 points, to finish at 9,307.15.The gains came after upbeat US economic data lifted the Dow ...
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Wal-Mart Fattens Up On Poor America With 25 Of U.S. Grocery Sales
in my May 1 blog , sits atop the mountain. But if limits on a family purse trump the desire for fancier and healthy organic and fresh farm items, what choices remain? For most Americans the answer is one of the greatest growth stories in capitalist history, a company whose growth metronomic remains solid in virtually all economic conditions. As they increasingly shop there, they contribute to ...
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Can Best Buys Turnaround Efforts Lift Earnings
Best Buy will announce its Q1 results on May 20. We expect the company to report better year-over-year revenues largely due to its price matching policy. However, margins could come in lower due to aggressive pricing, which will weigh on ...
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Google Microsoft and Yahoo are secret backers behind European Privacy Association
IDG News Service - After being accused of a lack of transparency by an independent watchdog, the European Privacy Association (EPA) has confirmed that Google, Microsoft and Yahoo are backers. The Corporate Europe Observatory (CEO), which works to expose privileged access in E.U. policy making, said in a complaint Thursday that the European Privacy Association is working to represent industry ...
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Stocks open mixed as investors eye Federal Reserve
CNBC's Jim Cramer explains why Yahoo is "desperate' to become part of the technical "firmament." Stocks were narrowly mixed Monday, as investors seemed to take a breather after major averages finished higher for the fourth-consecutive week and amid ongoing concerns ...
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Wildcat strike hits Mercedes South African plant
DAIGn.DE ) said on Monday workers at its South African assembly plant had gone on an illegal strike at the end of last week but had agreed to resume operations on ...
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U.S. justices rule for PPL Corp in overseas tax case
The court ruled on a unanimous vote that Pennsylvania-based PPL can claim $39 million in U.S. foreign tax credits against a 1997 British windfall ...
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US stocks edge lower
US stocks have edged lower in opening trade amid a flurry of merger and acquisition news, including the Yahoo! takeover of blogging platform ...
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Qihoo 360 Technology up 7 after earnings beat
Critical Alerts For Blackberry, Pandora Media, Green Mountain Coffee Roasters, Barnes & Noble, and Qihoo 360 Technology Released By ...
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Morgan Stanley Selling India Wealth Management Assets
Morgan Stanley (MS) Monday said it will sell its wealth-management business in India to Standard Chartered PLC (STAN.LN) for an undisclosed amount.The deal comes a month after the U.S. investment bank sold its European wealth-management business to Credit Suisse. In November, a senior executive said Morgan Stanley was reviewing its wealth-management business in India because it hadn't grown ...
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CME Halted Silver Trading 4 Times Sunday as Prices Slid 9
Exchange operator CME Group Inc. (CME) said it halted silver trading four times Sunday evening due to highly volatile markets, a spokesman told Dow Jones Newswires.The trading halts came as silver futures slumped 9.4% to a low of $20.250 a troy ounce in the first few minutes following the open of electronic trading on the Comex division of the New York Mercantile Exchange.Silver trading was ...
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Copper Inches Up As Supply Disruptions Offset Demand Worries
Copper futures are slightly higher Monday as traders weigh the supportive impact of supply disruptions against worries that higher property prices in China will force the world's top copper consumer to tighten its monetary policy and curb demand for the metal.The most actively traded contract, for July delivery, was recently up 1 cent, or 0.3%, at $3.3330 a pound on the Comex division of ...
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Group Led by Blackstone Launches Bid for Pactera
A consortium led by U.S. private equity firm Blackstone Group L.P. (BX) has launched a bid for U.S.-listed Chinese outsourcing firm Pactera Technology International Ltd. (PACT) in a deal that values the company at around $662.3 million.The take-private offer by the private equity firm and several company officials values Pactera at $7.50 a share, a 42.5% premium to where the shares closed Friday ...
Dominican Feature
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Dominican businesses expanding role in Haiti reconstruction
The Dominican Republic is already a regional leader in Central America and now looks poised to play an even greater role in the future of disaster-hit Haiti. The two countries are already major trade partners, and this relationship looks set to expand into rebuilding the country as well.
The Dominican Republic has one of the strongest economies in Central America and is one of the major trade partners of earthquake-beleaguered Haiti. For this reason, political leaders in the country have pointed out that it is vital for local businesses to continue or expand their involvement in Haiti’s reconstruction, or the country would lose an important source of revenue. Read more
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