Latest Breaking Business News
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Exclusive Chinese supplier VL Automotive bid for Fisker - sources
The logo of an extended rage electric vehicle Fisker Karma is pictured at the start of an electric car rally from Tallinn to Monte-Carlo in Tallinn June 1, ...
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Senate panel peels back Apples offshore taxes
1 of 7. Apple CEO Tim Cook (C), CFO Peter Oppenheimer (L) and Apple Head of tax operations Philip Bullock appear before 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, ...
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Welcome to the new Wall Street where back-office work trumps backslapping
$17 billion bond, it eschewed Wall Street's traditional tactics. Instead of flying well-groomed bankers to Cupertino, Calif., to charm Apple's top executives with PowerPoint presentations, Deutsche relied on iTunes. The German bank has handled the back-office work for Apple's online store in recent years, according to people familiar with the ...
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Microsoft announces Xbox One game console
-0.16% announced its new videogame console called the Xbox One on Tuesday. At an event at its Redmond, Wash., headquarters, the company introduced the new console, which it dubbed as the "ultimate all-in-one home entertainment system." The system will come with a new generation of the Kinect sensor. No launch date or price has yet been given at the ...
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Walt Disney Co.s ESPN says it is cutting staff
Walt Disney Co. Earlier this year, Disney trimmed jobs in its movie and consumer products divisions. It also made cuts in its video game unit and shut down LucasArts. Cuts at ESPN are rare. The sports cable empire is known for having deep pockets and continues to spend heavily for sports rights. Just last week ESPN struck a deal with the United States Tennis Assn. for all the rights to ...
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Pre-earnings bullish bets on Saks pay off as retailer rallies
SKS - Saks, Inc. - High-end retailer, Saks, Inc., popped up on our 'hot by options volume' market scanner this morning on heavier than usual trading traffic in upside calls. Shares in Saks are up 10% on Tuesday morning at a new 52-week high of $13.54 after the company posted first-quarter earnings in line with analyst expectations on higher-than-expected quarterly revenue. Shares in ...
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MARKET SNAPSHOT U.S. Stocks Rise After Fed Officials Comments
NEW YORK – U.S. stocks posted decent gains in early-afternoon action Tuesday after two Federal Reserve officials made encouraging comments about the central bank's bond-buying program, with one saying it has been effective.The Dow Jones Industrial Average (DJI) rose 68 points, or 0.4%, to 15,403. The blue-chip index and the other main stock averages held at session highs after trading ...
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Resolution to Split Chairman CEO at J.P. Morgan Fails
J.P. Morgan Chase & Co. (JPM) boss James Dimon strengthened his grip over the nation's largest bank as shareholders voted overwhelmingly against a proposal to split the chairman and chief executive roles that he's held since 2006.Roughly 68% of votes cast rejected the nonbinding recommendation that Mr. Dimon's jobs be separated, up from the 60% a similar resolution garnered ...
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Loonie overvalued by as much as 10 warns BMO chief economist
What's in store for the loonie with Poloz steering central bank ship? There is also no urgency for the Bank of Canada to raise interest rates, Porter said, adding there is a case for the country's central bank to drop its tightening bias because the housing market has cooled. The highest inflation-adjusted yields on Canadian government bonds in almost three months suggest that ...
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Jaime Dimon retains chairman and CEO roles
JPM ) shareholders Tuesday defeated a campaign to split the bank's CEO and chairman roles, a division of labor that Jaime Dimon, its chief, had voiced objections to. The rejection of the proposal amounted to a vote of confidence for the executive, whose dual roles had come under scrutiny after the bank's huge "London whale" trading loss. In early afternoon trading, JP Morgan ...
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Nostalgic Coca-Cola mural uncovered in Durham
Durham has a not-exactly-new addition - a recently uncovered Coca-Cola mural on East Main Street. A team of workers, armed with fingernail files, have been delicately chipping away plaster for years, and their work is almost complete. The owner of the three-story building initially discovered the mural while stripping plaster off of the walls during the building's renovation. The image is ...
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EA Microsoft ink “strategic partnership” for Xbox One
Microsoft and EA unveiled a "new, broad, strategic partnership," at the Xbox One announcement today. EA Executive Vice President Andrew Wilson was on hand to show four ...
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European stocks close higher London beats 13-year peak
LONDON (AFP) - Europe's main stock markets closed on an upbeat note on Tuesday as London recorded a new 13-year high amid stimulus policies from top world central banks and a barrage of company results, dealers said.Eyes were also on Fed chairman Ben Bernanke's testimony to Congress on Wednesday on the US economic outlook."Global equity markets have held their levels this morning, ...
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Stock indexes flip between gains and losses in midday trading Home Depot gains after earnings
NEW YORK - Stock indexes fluctuated in midday trading Tuesday as investors tried to predict the Fed's next move. The Dow Jones industrial average rose 32 points to 15,366 shortly before 12 Eastern time. The Standard & Poor's 500 index edged up one point to 1,668. The Nasdaq composite rose three points to 3,499. "There's no compelling reason for the market to go one ...
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Price of oil eases ahead of release of Fed minutes Bernanke testimony
NEW YORK - The price of oil fell Tuesday as investors waited for the Federal Reserve's latest views on the U.S. economy. Benchmark crude for June delivery was down 47 cents to $96.24 a barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, Fed chairman Ben Bernanke will appear before Congress and the central bank will release minutes of its most recent policy ...
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Apple avoiding billions in taxes senators
Apple CEO Tim Cook (C), CFO Peter Oppenheimer (L) and Apple Head of tax operations Philip Bullock are sworn in to testify at a Senate investigations subcommittee on offshore profit shifting and the U.S. tax ...
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Energy Stocks Energy stocks stretch winning streak to second day
SAN FRANCISCO (MarketWatch) -- Energy stocks edged higher on Tuesday, extending a wining streak to a second day as the broader U.S. equity market was more ...
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Wall Street drifts near record
New York - US stocks were little changed in early trading on Tuesday with Home Depot at a record high and buoying the blue-chips while investors eyed congressional testimony from Fed chairman Ben Bernanke on ...
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Interflora wins trademark case against Marks Spencer
Interflora ruling could lead to more cases brought by businesses where rivals' adverts appear above their links on Google. Photograph David Levene for the ...
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Vodafone delays 4G superfast mobile internet launch until September
Apple's iPhone 5 works on EE's 4G network - but does not run on the frequencies Vodafone and O2 are planning to use. Photograph: Peter Macdiarmid/Getty ...
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FTSE 100 closes within 130 points of record high but Carnival misses out on rally
Leading shares came within 130 points of their all time peak, following a revival in mining shares and a number of positive company updates, but cruise ...
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Microsoft Announces Unveils New Console The Xbox One
pulled back the curtain on its new console: the Xbox One. It looks like a slightly shinier, slightly smoother version of the Xbox 360, complete with Kinect and an aesthetically similar controller. The Xbox will use voice controls as well as gesture-based browsing controls from an updated version of the Kinect. In addition to games, Microsoft has been very clear about its intention to treat the ...
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Video Live Stream Microsoft Xbox Event
Microsoft launches its next-generation video game console on May 21st a special event on their corporate campus in Redmond, Washington called "Xbox: A New Generation Revealed." The new console -currently codenamed "Durango," but perhaps they'll call it the Xbox 720?- will help usher in the next generation of video game hardware, and ramp up the war for gamer dollars ...
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Real-Time Analysis Of Microsofts Xbox One Press Conference
a few months ago . I'll be writing about the event live which you can follow along with below once the event itself is underway. You can watch a livestream of the Xbox announcement ...
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Microsoft reveals Xbox 720
You’d never guess that the video game business has slowed from the Microsoft campus, where the companyis unveiling itsnew Xbox in a high-voltageevent designed to build anticipation for theconsole’s release this fall. Unlike previous versions of the console that initially targeted game enthusiasts, the new version is designed from the start to be botha game and entertainment system ...
Calcutta Spotlight
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Stephen Court disaster: any lessons learned?
Over 700 buildings in Calcutta are not compliant with safety regulations with regard to the risk of fire, and the Stephen Court disaster was a tangible example of what can happen when a fire breaks out in an unsafe building. Following that disaster, the local government seems to be taking a harder line on fire safety.
At 2.30pm on the 23 March, 2010, a devastating fire, allegedly caused by an electrical short circuit, ripped through the iconic Stephen Court building in Calcutta, destroying a large part of the 150-year-old office and residential block and killing over 30 people. Read more
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