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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RBS Lloyds Barclays account for most of UK capital gap - FT
LONDON (Reuters) - Britain's financial regulator will on Thursday say capital holes at Royal Bank of Scotland, Lloyds Banking Group and Barclays account for more than 90 percent of a 25 billion-pound ($39 billion) shortfall, the Financial Times said.The shortfall was based on estimates at the end of 2012, and the Bank of England said in March about half the total amount it identified was ...
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Microsoft offers hefty bounties to thwart hackers
By Jim FinkleBOSTON (Reuters) - Microsoft Corp is looking to recruit computer geeks in its ongoing efforts to protect Windows PCs from attacks, offering rewards of as much as $150,000 (95,822.15 pounds) to anybody who helps identify and fix major security holes in its software.Microsoft unveiled the rewards program, one of the most generous in the high-tech industry to date, on Wednesday as it ...
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Western Pa. guardsman sues claiming Target fired him as no show during 2-week training stint
Target Corp., saying he was wrongly fired from one of the chain's Pittsburgh-area stores for violating its "no-call, no-show" policy while he was on a two-week training assignment in Virginia. Andrew Lanier claims in the federal lawsuit filed Wednesday in Pittsburgh that he told his supervisors about the training duty in October 2011 only to be told when he returned that he was ...
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World Food Prize goes to 3 biotech researchers who made genetically modified plants possible
DES MOINES, Iowa -- This year's World Food Prize is going to a Belgian scientist and two researchers in the United States for their innovations that brought the world genetically modified crops. The prize organizers say the technology that allows for the stable transfer of genes into plant cells has improved yields, resistance to insects and disease, and tolerance of extreme climate ...
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FBI director urges caution by Congress before making any changes to NSA programs
WASHINGTON -- FBI Director Robert Mueller is cautioning Congress to give careful consideration before making any changes to the National Security Agency programs for mass collection of people's phone records and information from the Internet. In an appearance before the Senate Judiciary Committee, the FBI director says there are 10 or 12 cases in which the phone records program contributed ...
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Porsche GMC top survey of vehicle quality overall scores hit by glitches with tech features
DETROIT -- Porsche is the top performer in an annual survey of new vehicle quality. J.D. Power questioned more than 83,000 U.S. car owners about problems with their 2013 vehicles in the first 90 days of ownership. In the results released Wednesday, Porsche, GMC, Lexus, Infiniti and Chevrolet owners reported the fewest problems. The worst performing brands were Scion, Fiat, Mitsubishi, Nissan ...
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Currencies Dollar broadly lower ahead of Fed outlook
NEW YORK (MarketWatch) -- The U.S. dollar fell against most rivals, including the Japanese yen, on Wednesday ahead of highly anticipated guidance from the U.S. Federal Reserve on what it plans to do with its bond-buying ...
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Bond Report Treasurys edge lower ahead of Fed meeting
NEW YORK (MarketWatch) -- Treasurys took a weaker tone on Wednesday as investors waited for the Federal Reserve's policy statement and Fed Chairman Ben Bernanke's news ...
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Ian Livingstons government career may be short-lived
Why does Livingston want to be an unpaid trade minister ? We will have to take him at his word: he regards the post as an honour and he is tempted by the chance to try something new. Fair enough. The interesting question is what he does after being trade minister, especially if he's out of job after the election in May 2015. He is 48 and clearly ambitious. A quiet life in ...
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United Utilities and Severn Trent hit by downgrades as markets await Bernanke
, 69p lower at 16.96, saw their shares go ex-dividend. But both were also hit by negative comments from RBC Capital Markets.On United, analyst John Musk issued an underperform rating and cut his target price from 680p to 650p, suggesting its dividends were at risk and it was facing a harsher regulatory environment. He ...
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Microsoft Bug Bounty Program Puts Big Bucks On The Line
new bug bounty program that could pay as much as $150,000 for a single exploit. Last year, Microsoft launched a novel approach to the bounty concept with ...
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Microsoft Finally Offers To Pay Hackers For Security Bugs With $100000 Bounty
Vasilis Pappas claiming his $200,000 reward for developing a new hacking defense at Microsoft's Blue Hat Prize event last year. Now Microsoft is adding ongoing bounties for offensive hacking techniques, too. For years, Microsoft has refused to offer financial rewards to researchers who tell the company about security flaws in its software, even ...
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Bulls Bet On Micron Before Earnings Bears Smell More Blood In Mens Wearhouse
Options traders were snapping up out of the money call options on Micron Technology this morning ahead of the company's third-quarter earnings report after the closing bell today. Shares in the name kicked off the trading session in rally mode, rising as much as 2.6% to a six-year high of $14.11 in the early going, but have since cooled off to $13.80 as of 1:10 p.m. ET. Micron's shares ...
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Watch the Feds Economic Forecast for Taper Clues
Federal Reserve officials could carry more weight than usual when traders dissect the Fed's message Wednesday afternoon, and it may provide more clues as to when the Fed could start to wind down its bond ...
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Jeep Recall Smaller Than First Sought
About 1.2 million Jeeps originally listed as part of a recall requested by federal safety authorities have been effectively excluded from the compromise ...
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Santelli to Fed What Are You Afraid Of
CNBC's Rick Santelli, explains why he hears 'crickets" when he asks questions about Fed Chairman Bernanke's policies. "Enough is enough," he ...
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SEC Should Target Individuals
current SEC Chairman Mary Jo White said that this is set to change for some cases. Meanwhile, a former chairman of the SEC, Harvey Pitt, told CNBC that this new development is a good one. However, Pitt thinks ultimately this stricter stance on admission of guilt should eventually be combined with a strategy that focuses more on individuals, instead of primarily going after companies. "I ...
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IRS to pay $70M in employee bonuses senator says
The Internal Revenue Service is about to pay $70 million in employee bonuses despite an Obama administration directive to cancel discretionary bonuses because of automatic spending cuts enacted this year, according to a GOP senator. The Internal Revenue Service is about to pay $70 million in employee bonuses despite an Obama administration directive to cancel discretionary bonuses because of ...
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Stocks droop as traders await Fed policy signal
52 minutes ago Stocks fluctuated on Wednesday, with global markets trading cautiously, as investors hesitated to jump in ahead of the Federal Reserve's all-important policy statement and Chairman Ben Bernanke's press briefing later in the day. "The press conference can be very important--this would be a good time to elicit some interesting information from the Fed ...
Jordan Digest
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Aqaba taking Jordan along for the ride
Aqaba is now officially the site of one of the largest infrastructure developments in the Middle East region, and certainly the largest development ever undertaken in Jordan’s history. Marsa Zayed is a mammoth project worth $10 billion and on its own is expected to more than double Jordan’s tourist revenues. Marsa Zayed is one in a long list of significant developments taking place in Aqaba, which is set to become the premier tourist destination of the country and a leading destination in the Gulf, but this project is notable for its sheer size.
Marsa Zayed envisions a marina development with room for 300 yachts and a cruise ship terminal all surrounded by a mixture of hotel, resort and luxury apartment complexes. The entire project is slated for completion in several years time, when Jordan first signed the development deal with Al Mabaar, a UAE-based real estate firm, in 2008, Jordan news media reported that it would be completed in 2013. Read more
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