Latest Breaking Business News
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Snowden I Am Not A Spy
NSA leaker Edward Snowden denied that he is a spy for China, reports CNBC's Eamon Javers; and should tech companies have refused the NSA? Keith Boykin, CNBC Contributor; Heather Higgins, Independent Women's Voice; and Peter Brookes, Heritage ...
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Talking Numbers Netflix DreamWorks Deal
Netflix and DreamWorks struck a huge deal that will offer 300 hours of content to NFLX users. Discussing whether investors should buy either stock on the news, with Carter Worth, Oppenheimer, and Enis Taner, ...
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Sprint sues Dish Clearwire to block tender offer
(Reuters) - Sprint Nextel Corp on Monday said it has sued Dish Network Corp to block its tender offer for Clearwire Corp, escalating a takeover battle that also includes Japanese mobile carrier SoftBank ...
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Third Point raises Sony stake presses entertainment spin-off
TOKYO (Reuters) - New York-based hedge fund company Third Point said on Tuesday that it had raised its stake in Sony Corp and asked for an opportunity to present its proposal for a partial spin-off of the company's entertainment unit to Sony's ...
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Starboards battle with Smithfield over China-deal adds to activist image
NEW YORK (Reuters) - Since Starboard Value LP was spun off as a separate hedge fund just over two years ago it has been fast gaining a reputation for aggressive shareholder activism, pushing for change in household names including AOL ...
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Hedge fund manager used postal box to hide $6 million fraud Feds say
CHICAGO/SAN FRANCISCO (Reuters) - A North Carolina hedge fund manager used a personal post-office box and forged bank statements to hide his theft of about $6 million over a seven-year period, U.S. regulators and prosecutors said on ...
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Couples steamy romance e-books save their home
CBS News Their youngest son had contracted a virus. Jack was forced to leave a teaching program to care for him. Jasinda, a music and theater teacher, saw her income cut when a school program was cancelled. Jasinda said they were probably about 30 days away from losing their house. At that point, they had no idea what they were going to do. "You can't really show up at ...
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Coca-Cola opens Burmese bottling plant
Coca-Cola began bottling its famous soft drink in Myanmar (Burma) as part of a planned five-year, $US200 million ($A205.8 million) investment after having no local production for more than 60 years. The company announced in a press release the ceremonial inauguration of its bottling plant in Hmawbi Township, a suburb of Yangon, the country's biggest city, with local partner Pinya ...
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Sprint files lawsuit against Dish and Clearwire
(Reuters) - Sprint Nextel Corp has filed a lawsuit against Dish Network Corp and Clearwire Corp to prevent the completion of Dish's offer for Clearwire's shares.The lawsuit details how Dish has "repeatedly attempted to fool Clearwire's shareholders into believing its proposal was actionable in an effort to acquire Clearwire's spectrum and to obstruct Sprint's ...
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British prosecutor to charge central Libor suspect source
Former Citigroup and UBS trader Thomas Hayes is alleged to have been a central figure in a scam to rig global benchmark interest rates. (Michael ...
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Class-action lawsuit filed in NYC against Warner Music Atlantic over unpaid internships
NEW YORK -- A former intern filed a class-action lawsuit Monday against Warner Music Group and Atlantic Records over his unpaid internship, similar to a spate of recent lawsuits in other industries pushing back against the widespread practice. In the filing in state Supreme Court in Manhattan, plaintiff Justin Henry says he was never paid for the office work he performed from October 2007 ...
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Commuter train from NY to Long Island disabled in tunnel may have derailed no injuries cited
NEW YORK -- A commuter train from New York City to Long Island has become disabled and may have derailed in a tunnel under the East River. No injuries have been reported. Metropolitan Transportation Authority spokeswoman Marjorie Anders says it happened around 6 p.m. The 10-car Long Island Rail Road train was moving slowly as it entered the tunnel. Anders says it probably derailed. Passengers ...
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Ill. governor signs nations toughest fracking regulations could lead to thousands of jobs
CHICAGO -- Illinois Gov. Pat Quinn has signed legislation giving the state the nation's strictest regulations for high-volume oil and gas drilling. In a news release, Quinn's office says the governor signed the bill Monday. Quinn says the law will "unlock the potential" for thousands of jobs in southern Illinois while protecting the environment. Quinn's signature was ...
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Dominican merchants close key border market in protest over Haiti ban of poultry egg imports
SANTO DOMINGO, Dominican Republic -- Merchants in the Dominican Republic have shuttered a large border market in protest over neighboring Haiti's ban on poultry and egg imports. The Dajabon market was closed Monday seeking to pressure Haiti to drop the ban. A Dominican board says the country sells about 25 million eggs and 8 million chickens to Haiti every month. Early in June, Haiti said ...
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Fullscreen YouTube channel gets Chernin-led cash infusion
The picture is getting brighter for YouTube network Fullscreen. The digital media company, which operates thousands of channels on Google’s video-sharing site, is getting an influx of cash to fuel its expansion. The Chernin Group, headed by media veteran Peter Chernin, led the Series A round of funding that included big-media backers Comcast Ventures and WPP Digital.Fullscreen helps brands ...
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SP drops Ford to hold on lower 2013 earnings
A Ford logo stands above the Al Piemonte Ford dealership on June 3 in Melrose Park, Ill. S,P downgraded Ford from a "Buy" to a ...
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Danish regulator tells Danske Bank to set aside more capital
Danske Bank, the country's biggest financial institution, said the order from the Danish Financial Supervisory Authority (FSA) would result over time in a rise in risk-weighted assets of around 100 billion Danish crowns ($17.89 billion) relative to the figure for the first quarter of this year of 797 ...
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Tim Hortons faces pressure from another activist investor
THI.TO ), which recently outlined plans to address the concerns of activist investor Highfields Capital, now faces pressure from another activist ...
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U.S. patent case climaxes with win for Canadian vibrator maker
WASHINGTON (Reuters) - Couples in the United States looking to spice up their sex lives will have to do without certain adult toys after a U.S. trade panel ruled on Monday that some companies are violating a patent held by a Canadian company for a two-armed ...
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Former Microsoft exec tries his luck at building marijuana brand
In this photo taken May 30, 2013, former Mexican president Vicente Fox, left, speaks as Jamen Shively, CEO of Diego Pellicer, looks on during a news conference in ...
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Hertz-owned Thrifty says offer of free rental car was a mistake apologizes to customers
DALLAS -- Thrifty Car Rental says it's sorry, but many customers who were offered a free one-day rental won't be getting that after all. The company says the offer was intended for a select group of top customers but was sent accidentally to many other people. "We're very sorry for any confusion our eagerness may have caused," the chain, which is owned by Hertz Global ...
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A look at original TV shows made by online video services Netflix Amazon and Hulu
LOS ANGELES -- Netflix's deal to air 300 hours of original television programming from Dreamworks Animation in a multi-year deal is part of a trend in which online streaming video services including Amazon and Hulu are increasingly producing original shows. The new content often stacks up in length and quality to regular TV fare, and that of pay TV services such as HBO and Showtime. The ...
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White House threatens veto of House farm bill over cuts to food stamp program
WASHINGTON -- The White House is threatening to veto the House version of a massive, five-year farm bill, saying food stamp cuts included in the legislation could leave some Americans hungry. The House is preparing to consider the bill this week. The legislation would cut $2 billion annually, or around 3 percent, from food stamps and make it harder for some people to qualify for the program. ...
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Tweets too unsweet for Kass
Hedge-fund manager and popular markets commentator Doug Kass has turned in his Twitter membership, saying he can no longer take the "haters." "Unfortunately, there are many haters in the social blogosphere, who, perhaps because of their own issues, drown out the many good people who want a value-added investment experience by learning more and enjoying a healthy dialogue in real ...
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PRISM Apple Facebook Microsoft ... Who released which data
If you're feeling dizzy in the wake of the PRISM affair, you're not alone. Here's a summary of the companies involved and what they did with your ...
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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