Latest Breaking Business News
RSS-
GM recalls more than 27000 Cadillac crossovers with wheel issue
GM said on Wednesday it knows of no crashes or injuries due to the issue and that no wheels have separated from the sport utility vehicles built on car-based ...
-
ICBC Chinas Largest Bank by Assets Promotes Vice President to President
Industrial & Commercial Bank of China Ltd. (1398.HK), China's largest bank by assets, has appointed vice president Yi Huiman as president, replacing Yang Kaisheng who will retire.Mr. Yi, 49, joined the bank in 1985 and was named as vice president in 2008, state-owned ICBC said in a statement to the Shanghai Stock Exchange. The appointment is subject to approval from Chinese regulators, ...
-
AEA Investors Hires Banks for CPG International Sale Sources -Reuters
Building products maker CPG International may be sold by its private equity owner, AEA Investors LP, for between $1 billion and $1.5 billion, the Reuters news agency said Wednesday on its website, citing three unnamed people familiar with the matter.AEA Investors has hired Barclays PLC (BCS) and Deutsche Bank AG (DB) to find a buyer for CPG, the people were quoted as saying in the report.CPG is ...
More Breaking Business News
RSS-
Australia shares down after Wall St drops awaiting China PMI
Wed May 22, 2013 8:27pm EDT (Updates to open) SYDNEY May 23 (Reuters) - Australian shares fell 0.4 percent early on Thursday, after Wall Street retreated over worries that the U.S. Federal Reserve may consider winding back its economic stimulus programme. Investors will watch for HSBC's early manufacturing report on China, Australia's biggest export market, for clues to China's ...
-
UPDATE 1-Ford to close Australia auto plants - reports
Wed May 22, 2013 8:24pm EDT * Ford to end Australia production by 2016 - reports * Strong Australia dollar, cheaper imports hurt local manufacturers * Australian economy at risk as mining boom peaks, other sectors sluggish * Govt previously committed A$5.4 bln to support car manufacturers to 2020 CANBERRA, May 23 (Reuters) - Ford Motor Co is set to announce it is closing its two Australian auto ...
-
Ed Miliband a googly for tax avoiders | Editorial
Ed Miliband is pretty clear about how he would like to distinguish the Labour party he leads from the Labour party that went before. He aims to be readier than Blair and Brown to challenge the powerful in general, and the economically mighty in particular.Over three years, we've seen flashes of both halves of that - in, for example, his determination to take Wapping to task over phone ...
-
Gross Fed Likely to Start Tapering by Fall
Pimco's Bill Gross says an inflection point is approaching and he thinks the Federal Reserve will probably start tapering its bond buying by ...
-
Microsoft caves in cripples YouTube for Windows Phone 8 with the latest update
On Wednesday, Microsoft rolls out an update for its YouTube Windows Phone 8 app which takes away the ability to download content from the popular video-sharing website. The latest iteration arrives one week after Google sent ...
-
UPDATE 1-U.S. House votes to force approval of Keystone pipeline
Wed May 22, 2013 7:53pm EDT By Ros Krasny WASHINGTON May 22 (Reuters) - The House of Representatives approved a bill as expected on Wednesday declaring that a presidential permit was not needed to approve the Canada-to-Nebraska leg of the Keystone XL oil pipeline, a move that would take a decision on the project away from the Obama administration. The Republican-controlled House voted 241-175 ...
-
Bernanke comments hit US stocks Australian dollar
United States Wall Street saw its biggest one day swing in six months and the Australian dollar dropped overnight as investors raised concerns that the US Federal Reserve will scale back its stimulus program shortly.Markets initially rose as Federal Reserve chairman Ben Bernankeaddressed Congress saying the quantitative easing program is providing significant benefits to the American economy ...
-
HP raises 2013 outlook as Whitmans plan takes hold
SAN FRANCISCO (Reuters) - Hewlett-Packard Co raised its 2013 earnings outlook after quarterly results beat low expectations, as CEO Meg Whitman's turnaround plan helped offset shrinking personal computer sales with enterprise computing ...
-
Borders gift card holders deserve nothing judge rules
(Reuters) - Borders owes nothing to holders of roughly $210.5 million of gift cards that had not been used by the time the bookstore chain shut down, a Manhattan federal judge ruled on ...
-
Apple former Washington wallflower now at center of tax fight
Apple CEO Tim Cook is pictured during a Senate homeland security and governmental affairs investigations subcommittee hearing on offshore profit shifting and the U.S. tax code, on Capitol Hill in Washington, May 21, ...
-
Blackstone Prologis Acquire Industrial Portfolio for $960 Million -Sources
Blackstone Group LP (BX) and industrial landlord Prologis Inc. (PLD) agreed to acquire a warehouse portfolio that is majority owned by Lehman Brothers for $960 million, people familiar with the matter said Wednesday.The deal marks Blackstone's second acquisition of industrial properties this week. The private-equity company now owns 100 million square feet in the sector. Blackstone on ...
-
In final year as Canada’s top bank watchdog Julie Dickson will make no apologies
Canada’s top banking regulator is leaving when her seven-year term expires next year, marking a significant changing of the guard. But will the departure of Julie Dickson at the helm of the Office of the Superintendent of Financial Institutions (OSFI) result in a drastic change in tone? Not likely. After all, the 55-year-old career public servant is a product of a regulatory system that ...
-
Flaherty says Ottawa to move ahead with single securities regulator plan even without provinces
OTTAWA --Finance Minister Jim Flaherty says the federal government will again push ahead with the creation of a national securities regulator, with or without the agreement of the provinces and territories, to deal with areas in which Ottawa is constitutionally responsible. "I've been advocating a common securities regulator for a long time, with limited success," Mr. Flaherty ...
-
Jennifer Lopez Teams With Verizon For Latin-Targeted ‘Viva Movil’ Stores Wireless Service
Jennifer Lopez has teamed with Verizon Wireless on a new 4G LTE network and retail service, Viva Movil by Jennifer Lopez, which the celebrity and Verizon announced at the CTIA Wireless Conference in Las Vegas Wednesday afternoon. Viva Movil was created in collaboration with Brightstar Corporation and Moorehead Communications, and will include custom retail stores in New York, Los Angeles and ...
-
Executives decry pressure of ‘short-termism’ in earnings targets
Senior corporate executives say they have faced growing pressure in the past five years to meet short-term earnings targets, leading to a new campaign to urge shareholders to take a longer-term outlook for stocks they own.The heads of the Canada Pension Plan fund and international consulting firm McKinsey & Co. told a Toronto audience Wednesday they are launching a campaign to convince ...
-
Renting better than buying in the Twin Cites
Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet ...
-
San Onofre execs in Star Trek parody
Ross Ridenoure (center facing right), chief nuclear officer of the San Onofre nuclear power plant, and workers stood by one of the two new generators that will be installed in the complex. (Charlie Neuman / ...
-
Ben Bernanke tells bulls what they want to hear
Ben Bernanke's statement suggests the prospect of an imminent change of policy by the Federal Reserve is unlikely. Photograph: James Berglie/ZUMA ...
-
QA with a London derivatives trader | Joris Luyendijk
interviewee who specialised in shares (equity) and who was lamenting the rise of derivatives - financial products such as options, swaps and futures that can be almost infinitely more complex than simple shares. Today's interviewee is one such derivatives ...
-
Wal-Mart plans to send automated shopping lists to its mobile app
IDG News Service - Wal-Mart plans to use big data about a customer's usual shopping to automatically create shopping lists for them on its mobile app. That's one of the tools the world's largest retailer plans to use to improve the in-store shopping experience as it looks to mobile-influenced purchases outpacing e-commerce sales, said Gibu Thomas, Wal-Mart's global head of ...
-
Wal-Mart Using Big Data to Power Mobile
Wal-Mart wants to tell you what to buy on your mobile device and it's using its massive collection of data to make it a reality. "Our mobile strategy is as simple as it is audacious. We want to make mobile tools that become indispensable for our customers while shopping in our stores and online," said Gibu Thomas, global head of Wal-Mart's mobile division, on Wednesday at the ...
-
Tesla Pays Off $465 Million DOE Loan
Tesla has become the first automaker to repay its loan under the Energy Department's Advanced Technology Vehicle Manufacturing program. In a statement issued after the money had been wired, Tesla CEO Elon Musk said, "I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American ...
Beijing Feature
-
Massive Beijing Subway expansion plans
The Beijing Subway is one of the biggest, most efficient and most used subways in the world. It is constantly undergoing expansion and upgrades, and yet is unable to keep up with the growth of the capital city. With the recently announced plans for the expansion of the subway by over 60%, the city will certainly be hard-pushed to meet the massive task.
The Beijing Subway is one of the largest in the world. It carries over 5 million people every day, and hundreds of trains run on 228kms of track and service 147 stations. It is a feat of engineering, planning and coordination every single day. It is a network that Beijing commuters should be proud of, it represents the forward-thinking and development of the city. Read more
News from around our Network
