Latest Breaking Business News
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Bernanke says more positive signs needed before scaling back stimulus
WASHINGTON - Chairman of the Federal Reserve, Ben Bernanke Wednesday said it was too soon to scale back the monetary stimulus and the central bank needs to see further signs of traction before taking a decision. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain ...
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Higher exports fail to plug widening Japan trade deficit
TOKYO - Japan's trade deficit rose substantially more than expected in the month April to 879.9 billion yen ($8.6 billion), which is a 70% jump over the trade deficit during the corresponding month a year earlier, the Finance Ministry said Wednesday.. The deficit, for the tenth consecutive month, was wider than what many economists had forecast. A survey from the Nikkei business daily ...
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Vitamin C offers hope of tackling drug resistant TB
WASHINGTON - Adding vitamin C to existing tuberculosis drugs regime could shorten the therapy for drug resistant TB, claims new research findings published in the online scientific journal Nature Communications. The striking discovery, by researchers at Albert Einstein College of Medicine of Yeshiva University, has determined that vitamin C kills drug-resistant TB bacteria in laboratory ...
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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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Labour reforms to top US team agenda on Bangladesh visit
DHAKA - A high level US delegation led by the State Department's Under Secretary for Political Affairs Wendy Sherman will visit Bangladesh this weekend to press for a major overhaul of labour safety regulations following the nation's deadliest industrial accident, an official said Wednesday. The collapse of a nine-storey factory complex housing several garment units outside the capital last ...
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Barroro voices concern over estimated one trillion euro tax evasion
BRUSSELS - Voicing concern about tax evasion that is estimated at one trillion euros, European Commission President Jose-Manuel Barroso said Tuesday that EU leaders will meet at a one-day summit on Wednesday to negotiate solution. The European Union can't afford to let tax evasion go on the way it is. Such large amounts of money, currently sitting in tax havens, would be greatly beneficial ...
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German central bank sees signals of economic pick up in Q2
FRANKFURT - Germany's central bank Deutsche Bundesbank expects the country's economy to improve "markedly" in the second quarter relying on signals of pick up in industrial orders and likelihood of weather related downturn in construction sector no longer impacting investment sentiments a development that could boost the wider eurozone as it struggles to get out of recession. "Overall ...
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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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Mortgage lending in UK rises highest in four years
LONDON - The UK housing market seems to be picking up with gross mortgage lending up 4.3 per cent in April over previous month to 12.1 billion pounds, the highest in over four years, according to the Council of Mortgage Lenders (CML). The mortgage lending was 21% higher than April 2012, but this data is skewed by the end of the stamp duty concession on 24 March, 2012. Under the stamp duty ...
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Microsoft launches all-in-one home entertainment system Xbox One
Microsoft has unveiled its latest video gaming console 'Xbox One' which is believed to transform games, TV and entertainment for the 21st century living room. The latest console reportedly promises a vision of the future. According to a report by the Mirror, 'Xbox One' will allow users to turn on the device with words like "Xbox On", and "snap" will allow users to watch two things at ...
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Microsoft unveils new all-in-one Xbox console
Microsoft unveiled a new Xbox console Tuesday that represents a major upgrade on the US-market-leading Xbox 360 model. The president of the IT giant's Interactive Entertainment Business, Don Mattrick, revealed the hi-tech Xbox One entertainment and gaming console during an event at Microsoft's Redmond, Washington, campus. The Xbox One was presented as an all-in-one system for gaming, watching ...
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Home sales prices up during April in Minnesota U.S.
Home sales in Minnesota and across the country posted modest gains last month, while prices increased by double digits, according to a pair of reports released ...
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Xcel Energy changes top managers in Minnesota
In the face of regulatory challenges in Minnesota, Xcel Energy Inc. on Wednesday assigned a veteran executive to run its division in the state after promoting regional CEO Judy Poferl to corporate ...
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Koalas have a new hangout at SD Zoo
Designed to mimic the animals' Australian homeland, the $7.4 million exhibit not only includes a brand-new habitat with more enclosures for the tree-perching koalas, but also aviaries and dedicated areas for wallabies and wombats -- all accented with Aussie architecture, plantings and 8-foot-to-15-foot-tall Aboriginal-inspired totem ...
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Australian Market Declines On Wall Street Cues
The Australian stock market is trading weak on Thursday with investors pressing sales at several counters, tracking cues from Wall Street where stocks tumbled overnight amid doubts about further stimulus from the U.S. Federal Reserve.Financial, consumer staples, industrial and property trusts stocks are trading weak, while mining, energy and healthcare stocks are trading mixed.The benchmark ...
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James Moore While RBS and Lloyds are just capital speculation starts about the small fry
Is that the conclusion we are supposed to draw from yesterday's unscheduled "we're all OK, honest" announcements from Lloyds and Royal Bank of Scotland? It's rosy in their (capital) gardens, they say, which will grow through a "strongly capital-generative core business" plus a few more disposals (Lloyds) and "delivery against against its business ...
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QA Microsoft Games boss on Xbox One lineup Spielbergs Halo and more
Microsoft’s unveiling of the Xbox One console on Tuesday mostly showed off the system’s entertainment capabilities. The next big Xbox event, on June 10 in Los Angeles, will be mostly about games. For a preview I buttonholed Phil Spencer, vice president of Microsoft Game Studios,on ...
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Volatile Trading Day Keeps Focus on Fed Jobs Data
Volatile trading in stocks and bonds could continue as investors sort out what's going on with the Fed and whether markets have come to some sort of inflection point. That makes every bit of economic data even more important, since the Fed has made clear its path will be determined by the progress of the economy, and employment in particular. ...
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China May HSBC flash PMI Hits 7-Month Low
China's factory activity shrank for the first time in seven months in May as new orders fell, a preliminary survey of purchasing managers showed, adding to concerns that a recovery in ...
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Xbox One Has Microsoft lost the name game in the console war
On Tuesday, before a roomful of panting games journalists and sore-thumbed enthusiasts, Microsoft unveiled its latest games console. The curtain was pulled, and the Xbox One was revealed. As gamers ruminated on the implications of the 'box (not hardcore enough? Better than the forthcoming PlayStation 4?), some of us were left ...
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Hewlett-Packards slump continues as revenue drops 10
Hewlett-Packard Chief Executive Meg Whitman has repeatedly warned that HP's revenue might not start growing at an acceptable rate for another year or ...
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HP earnings fall 31 percent but surpass expectations
Hewlett Packard CEO Meg Whitman Hewlett-Packard Co. reported second quarter earnings Wednesday, showing earnings per share of $0.55 or $1.1 billion, a 31 percent decline in earnings from a year ago. Adjusted earnings came in at $0.87 a share or $1.7 billion, exceeding analyst expectations of $0.81 a share. Net revenue fell 10 percent to $27.6 billion, and cash flow came in at $3.6 billion, a 44 ...
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Wall Street pours cold water on Targets weather excuses
Target blamed the weather for slow sales, but analysts don’t think that’s the whole story. The retailer’s stock fell 4 ...
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Blu-ray patent group sues Imation over blank discs
Sony Corp. and three other companies that helped invent Blu-ray movie discs sued Imation Corp., claiming the data-storage company broke patent laws by selling blank, recordable versions of the ...
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HPs slump deepens in second quarter as earnings fall 32 percent
Hewlett-Packard Co. reported Wednesday that quarterly earnings fell 32 percent from a year ago. But the company’s stock rose in extended trading after the company’s forecast came in above analysts’ ...
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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