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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Yahoo follows Facebook and Microsoft in publishing US govt sought snoop data
Internet corporation Yahoo has followed the league of technological companies in publishing reports about 'snoop data' requests made by the US government. According to the Guardian, Yahoo has revealed that it had received 12,000-13,000 requests, inclusive of criminal, Foreign Intelligence Surveillance Act (FISA), and other requests by the government between 1 December 2012 and 31 May ...
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Asian Stocks Fall On Uncertainty Over Fed Policy
Asian stocks fell broadly on Wednesday as investors adopted a cautious stance ahead of the outcome of the two-day policy meeting of the U.S. Federal Reserve. With Fed Chairman Ben Bernanke scheduled to hold a press conference shortly after the meeting, investors wait to hear what he has to say about possible tapering of bond purchases and the future course of Fed policy. Japanese shares bucked ...
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Stocks to Watch FedEx Micron are Wednesday’s stocks to watch
SAN FRANCISCO (MarketWatch) -- Among the shares expected to see active trade in Wednesday's session are those of FedEx Corp., Micron Technology Inc. and Red Hat ...
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ITV buys US production company Thinkfactory Media
ITV has made its third foray into the US TV production sector, paying $30m (19m) for a controlling stake in the company behind Kevin Costner drama Hatfields & McCoys.The UK broadcaster is buying 65% of Los ...
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Bankers banged up They need to return to planet Earth first | Polly Toynbee
Bang up the bankers! That has a nice ring to it, like the rioter's line in Henry VI (part two) that always gets a roar of approval, "let's kill all the lawyers". But does anyone really think any of them will land in the clink? The degree of personal recklessness would have to be extreme.The parliamentary commission on banking standards ...
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Rio Tinto rises after Australian job cuts as markets await Bernanke
has moved higher after job cuts and a broker recommendation.The mining giant is cutting more than 40 office jobs in its Australian iron ore division, to reflect changing market conditions. Chief executive Sam Walsh unveiled plans earlier this year to save $5bn of costs over the next two years.Meanwhile Citigroup added the miner to its most favoured stock list, helping its shares climb 52p to ...
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Dreamliner Diverted In Latest Boeing Setback
A Boeing 787 Dreamliner has landed safely after being diverted when pilots were made aware of a potential oil filter problem. In the latest of a series of setbacks for the new model, United Airlines said a Dreamliner on its way to Tokyo from Denver was forced to land in Seattle as a precaution. The planes were only recently returned to the skies after regulators grounded them worldwide due ...
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Cable Presses For RBS Bonus Link To Lending
Vince Cable is to push for the new boss of Royal Bank of Scotland (RBS) to have his pay more closely-tied to its small business lending amid intensifying debate about its future. Speaking to Sky News, the Business Secretary said he was also considering the case for reinstigating formal lending targets for the state-backed bank for the first time since 2010. "I am keen for RBS to have ...
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New Eurofighter chief aims to make jet cheaper
At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...
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Europe Markets European stocks drop as Fed statement eyed
LONDON (MarketWatch) -- European stock markets dropped on Wednesday, with what is likely to be a volatile day ahead as investors wait for the much anticipated monetary-policy decision from the U.S. Federal ...
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Parliamentary commission on banking standards reaction in full
major report from the parliamentary commission on banking standards calling for a new law to jail bankers for reckless misconduct, the deferral of bonuses and more measures to foster ...
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G-8 leaders agree proposals on tax avoidance and evasion
The G-8 (Group of Eight - - 7 leading industrialised nations; US, Japan, Germany, UK, France Canada, Italy plus Russia) have agreed on proposals to tackle tax avoidance and evasion that call for new laws to stop businesses from shifting profits across borders, urge greater transparency about company ownership and sharing of ...
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Japanese exports value jumps in May Trade deficit remains in red
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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HM Earnings Drop More Than Expected
H&M , the world's second-largest fashion retailer, posted a bigger than expected drop in second-quarter earnings, hit by still sluggish consumer morale and bad weather in its main European market. The Swedish company said it was entering the third quarter with higher inventories than planned and the situation remained challenging in many of its major markets, but sales had got off to a ...
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UK Auditor Agrees Fine And Ban In New York
A division of one of the UK's biggest auditors, Deloitte, has been fined $10m (6.4m) by New York state for its actions in advising Standard Chartered Bank over money laundering. In addition to the fine, Deloitte's Financial Advisory Services arm was also banned for one year from taking new work in the state after officials ruled it did not carry out its duties independently. The ...
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European stocks climb before Fed decision
EUROPE'S main stock markets rose at the start of trading on Wednesday, ahead of the outcome of the US Federal Reserve's latest monetary policy gathering. London's benchmark FTSE 100 index gained 0.12 per cent to 6,381.94 points, Frankfurt's DAX 30 added 0.30 per cent to 8,254.57 points and in Paris the CAC 40 advanced 0.12 per cent to 3,865.13 compared with Tuesday's closing ...
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HM sales earnings slump
(20 mins ago) Swedish fashion retailer Hennes & Mauritz, which has stores in Hong Kong, says profits fell by 11 percent in the second quarter due to the strong Swedish krona and increased markdowns of its products. The company said net profit for the March-May period dropped to 4.66 billion kronor (US$720 million) from 5.22 billion a year earlier. Sales for the quarter slipped marginally ...
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Leasing firm CIT orders 30 Boeing 737 MAX planes
Visitors chat in front of models of the 777-300ER (L) and 737-8 MAX passenger planes, with a scale of 1:40, at the Boeing booth on the first day of the China International Aviation & Aerospace Exhibition in the southern Chinese city of Zhuhai November 13, ...
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EADS sticks to defense business mulls options CEO
EAD.PA ) has no plans to give up its defense business but is open to seeking alternatives for parts of it, Chief Executive Tom Enders told a German ...
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Revision of Cypriot bailout terms not likely euro zone officials
BRUSSELS (Reuters) - The euro zone does not intend to change the terms of Cyprus's bailout as requested by Cypriot President Nicos Anastasiades in a letter sent to euro zone leaders and its lenders, three senior euro zone officials said on ...
Reno Focus
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Reno's roads in contention
Reno is in need of road improvement projects around the city, the residents of Reno agreed with this when they voted in favor of fuel taxes to fund these projects, but with many projects needing to be done and costs increasing there is disagreement about how to prioritize the funds.
In 2008, a number of road project in and around Reno were presented to voters, which would be funded by incremental increases in fuel taxes over the next ten years. Broadly speaking, there are six main road infrastructure projects. Read more
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