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Spain sees rise in surplus

Sat, 18 May 2013 08:34:58 -0400

Spain has reported a trade surplus, the first since 1971. With imports slumping due to austerity measures, the first monthly trade surplus for more than 40 years is being seen as a positive development. However, the country is still suffering from an economic downturn with unemployment in Spain now running at 26.7%. The surplus of 634.9 million euros in March reflects a 15% plunge in ...

Famous artists bring big money at auction

Sat, 18 May 2013 08:33:07 -0400

Paintings by Jackson Pollock, Roy Lichtenstein and Jean-Michel Basquiat smashed all previous auction records at Christie's in New York during the week. In fact, several works by popular artists brought extraordinary prices. The items made $495 million for their owners at the valuable sale of postwar and contemporary art at Christie's. However, a single Andy Warhol Painting of Marilyn ...

Energy Department gives nod for more US LNG exports

Fri, 17 May 2013 16:28:40 -0400

WASHINGTON - The Energy Department Friday gave a conditional nod authorizing Freeport LNG Expansion, L.P. and FLNG Liquefaction, LLC (Freeport) to set up a second facility for export of domestically produced liquefied natural gas (LNG) to countries that do not have a Free Trade Agreement (FTA) with the United States. The approval means that gas-hungry markets like Japan and India could start ...

Minor setback reported on Nippon's test flight of Dreamliner

Fri, 17 May 2013 16:28:04 -0400

TOKYO - Japan's All Nippon Airways said Friday a modified Dreamliner had suffered a "minor" setback while conducting a test flight of an aircraft this month, but assured it was not due to overheating of lithium batteries. All Nippon Airways, the Japanese airline that is the largest operator of Boeing's beleaguered Dreamliner, said an electric distribution panel overheated and blackened during ...

Three days after closure Bangladesh factories reopen

Fri, 17 May 2013 16:34:08 -0400

DHAKA - Bangladesh has re-opened hundreds of garment factories after just three days of closure following protests over pay and poor work conditions. The Bangladesh Garment Manufacturers and Exporters Association had called for the re-opening on Friday. The shutdown of factories this week was prompted by worker protests over low pay and poor working conditions sparked by the country's worst ...

Developing nations set to dominate global investments says World Bank

Fri, 17 May 2013 16:22:44 -0400

WASHINGTON - The share of developing countries led by China and India in global investment is expected to triple by 2030 to three-fifths, from one-fifth in 2000, says the latest edition of the World Bank's Global Development Horizons (GDH) report, which explores patterns of investment, saving and capital flows as they are likely to evolve over the next two decades. Seventeen years from now, ...

Morrisons signs deal to use Ocado logistics facility

Fri, 17 May 2013 16:22:53 -0400

LONDON - Morrisons Supermarkets, one of the major British retail chains, has entered into a 170 million pounds and 25-year agreement with Ocado Group plc ("Ocado"), to acquire its recently opened Dordon Customer Fulfilment Centre (CFC) in the Midlands, and lease it back with commitment to use its logistics and distribution facilities to start grocery deliveries to customers by January 2014. ...

Microsoft warns about rise in computer viruses worldwide

Sat, 18 May 2013 00:50:02 -0400

A Microsoft security expert said that computer viruses are on a rise worldwide once again after years of being less popular amongst computer attackers. In a report by Fox news, the security expert Tim Rains said that although viruses were less chosen to attack systems by hackers nowadays as they used other forms of threats, but recently Microsoft security has observed that viruses are on a rise ...

Photos Parks and Rec Star Buys Home

Sat, 18 May 2013 07:10:50 -0400

Anna Faris and Chris Pratt have left Washington State for Hollywood. The actors just spent $3.3 million on a Hollywood Hills home, previously owned by Live Nation CEO Michael Rapino. Records show that the couple paid $3.3 million for the 4,710 square foot home- $325,000 over the last asking price of $2.975 million. The 4 beds, 3.5 baths home sits on over half an acre above Nichols ...

Gran Turismo Wants To Build Real-Life Racer

Sat, 18 May 2013 06:18:12 -0400

Video game Gran Turismo could be set to give big brand car makers a run for their money. At a special event to celebrate the title's 15th anniversary, its creator said he hopes the brand will eventually build its own car. "We have big dreams and I think one of those dreams is maybe one day making an actual car," Kazunori Yamauchi told Sky News. Speaking at the Silverstone ...

US Energy Revolution Gathers Pace

Sat, 18 May 2013 05:24:15 -0400

The growing role of the U.S. in world energy markets was underlined on Friday as the Obama administration approved wider exports of liquefied natural gas and international companies committed billions of dollars for new infrastructure. The developments were both consequences of ...

Northeast Japan Jolted by Earthquake

Sat, 18 May 2013 05:24:14 -0400

two nuclear plants in Fukushima reported no new irregularities after the quake, Kyodo news agency said. Onagawa nuclear plant in Miyagi prefecture further north also detected no irregularities, operator Tohoku Electric Power Co said. In Miyagi prefecture, where the shaking was the strongest, there were no information on injuries, Kyodo added. The United States Geological Survey recorded the quake ...

Wall Street Week Ahead Correction talk gets old as rally sails along

Sat, 18 May 2013 05:12:10 -0400

.SPX gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get ...

China April housing inflation quickens to two year high

Sat, 18 May 2013 05:12:10 -0400

BEIJING (Reuters) - China's housing inflation accelerated to its fastest pace in April in two years, driven by a jump in prices in Beijing and Shanghai, complicating the task of policymakers trying to cool the property sector while supporting economic ...

Wine what to buy at Tesco

Sat, 18 May 2013 04:24:10 -0400

wine . But given that it has 25% of the UK market, one in four of us is likely to be shopping there at any one time.I have well-rehearsed issues with the company myself - the way it bumps up prices to create phoney half-price offers, though it's far from alone in that; the pressure it puts on its suppliers; the fact that the wines I'm most enthusiastic about are often available in only ...

The womenswear buyer of Asos offers her tips for your summer wardrobe

Sat, 18 May 2013 04:24:08 -0400

Emma Fox, womenswear buying director of Asos: 'This year, dungarees are looking like the major festival trend.' Photograph: Maja Daniels for the ...

EU To Ban Refillable Olive Oil Bottles

Sat, 18 May 2013 04:13:22 -0400

Refillable olive oil bottles in eateries across Europe are set to be banned, to stop restaurateurs topping them up with cheaper substitutes. The European Commission said that from 2014, restaurant customers will only be allowed to use oil from non-refillable bottles with proper content labelling. EU spokesman Olivier Bailly said the move is being initiated because consumers often get fooled ...

Npower feels the heat after accusations of UK tax avoidance

Sat, 18 May 2013 03:19:44 -0400

Npower has become the latest firm to feel the heat of a mass consumer boycott after thousands of its gas and electricity customers said they plan to switch supplier to protest at its tax affairs.In April, chief executive officer Paul Massara revealed in the House of Commons that his company had paid almost no corporation tax between 2009 and 2011.When it later emerged that the energy giant had ...

RBS and NatWest fees revamp penalises authorised borrowers

Sat, 18 May 2013 03:19:43 -0400

Millions of NatWest and Royal Bank of Scotland current account customers are to be hit with new charges of up to 72 a year - on top of the interest they must pay - if they go overdrawn by more than just a tenner.RBS, which is 82% owned by taxpayers, is introducing an arranged overdraft fee on 12 July. Some customers with such overdrafts might be annoyed to learn that this fee is in effect being ...

QA Post Office current accounts

Sat, 18 May 2013 03:19:42 -0400

current accounts . It is promising "a fair and transparent way to manage your money", with no hidden charges, and its entry into the market is likely to be welcomed by some of those looking for a more ethical home for their cash.However, ...

More reports of Emirates delays

Sat, 18 May 2013 03:19:40 -0400

we featured the case of JL, from Sheffield who complained that Emirates airline had failed to compensate her for long delays she suffered on a flight to Australia as a result of changing planes in Dubai. The flight leaving the UK was delayed, causing her to miss the onward Emirates leg to Sydney; she eventually arrived 12 hours late.The problems occur ...

Positive economic news extends stock market rally

Sat, 18 May 2013 02:51:24 -0400

NEW YORK - Encouraging news about the U.S. economy extended the stock market's rally Friday.Small-company stocks rose the most, a sign that investors are taking on more risk. Two companies soared in their stock-market debuts in the latest indication that the market for initial public offerings is reviving.A gauge of future economic activity rose more than analysts had expected, as did a ...

Financial Times Hacked By Syria Group

Sat, 18 May 2013 02:03:57 -0400

The website and Twitter account of the Financial Times have been hacked, apparently by activists who support the Syrian government. The Syrian Electronic Army claimed responsibility for the attack, in which the hackers published messages in support of President Bashar al Assad and posted a link to a YouTube video. "Syrian Electronic Army Was Here," the group boasted on one of the ...

Exclusive EU cites Chinese telecoms Huawei and ZTE for trade violations

Sat, 18 May 2013 01:19:07 -0400

By Daniel BasesNEW YORK (Reuters) - Europe's top trade official for the first time late on Friday officially cited Chinese mobile telecommunications equipment makers Huawei and ZTE Corp for violating anti-dumping and anti-subsidy guidelines.European Union Trade Commissioner Karel De Gucht said he was prepared to launch a formal investigation into anti-competitive behaviour by these Chinese ...

Peace plan at Morgans

Sat, 18 May 2013 01:14:24 -0400

Billionaire investor Ron Burkle extended an olive branch to a fellow director of Morgans Hotel Group yesterday in hopes of reviving a bungled plan to take over the hotel chain’s posh Delano property in Miami’s South Beach neighborhood. A lawyer for Burkle’s private-equity firm, Yucaipa, laid out a plan to let the angry director, Jason Kalisman, take the lead in a controversial ...

Yahoo falls for Tumblr

Sat, 18 May 2013 01:14:24 -0400

Yahoo! is considering up to a $1 billion bid for Tumblr, the company that was founded by CEO David Karp and is headquartered in the Flatiron District, according to reports.Word of a potential deal was first reported yesterday by AllThingsD and Adweek.A billion-dollar price tag for the blogging platform that hosts more than 100 million sites would be a reflection of how far New York has come in ...

Voice axes Musto Feingold

Sat, 18 May 2013 01:14:23 -0400

Turmoil continued to grip the Village Voice yesterday with the bouncing of two of its most well-known columnists - Michael Musto, who had penned the gossipy La Dolce Musto for 20 years, and veteran theater critic Michael Feingold.Feingold, a staffer for 30 years, is expected on Monday to host the Obies, the off-Broadway theater awards sponsored by the Voice. "I’m still trying to figure ...

Cohen clamming up as Feds circle

Sat, 18 May 2013 01:14:23 -0400

Steve Cohen and Uncle Sam are no longer going steady.The hedgie’s SAC Capital yesterday said it will no longer "unconditionally" cooperate with the government’s insider-trading probe. In a brief letter to investors, the $15 billion hedge fund described the coming months as critical, saying it expects "substantially more clarity" into the probe’s impact on SAC ...

Facebook trying to find its Waze

Sat, 18 May 2013 01:14:23 -0400

Facebook’s negotiations to buy mapping firm Waze are being held up by geography, The Post has confirmed.Waze founders are holding out for more money from Facebook because they need some sweetener if they are going to be forced to move from Israel to Silicon Valley as part of the deal, according to a source with knowledge of the negotiations.CEO Mark Zuckerberg has been trying to buy Waze, a ...

Restaurants Fear Tough Drunk-Driving Law

Sat, 18 May 2013 01:07:29 -0400

NTSB Recommends Toughening Drunken Driving Standard ) "It could have a chilling effect on sales," said Paul Gatza, the director of the Brewers Association, a trade group that represents small American brewers. For restaurants that serve alcohol, beer sales generally account for about 10 to 20 percent of their revenue while wine and spirits make up another 10 to 20 percent, Gatza said. ...

Big banks provide cash for payday loans

Sat, 18 May 2013 00:11:42 -0400

Fast cash is a few clicks away for Minnesotans at the popular CashNetUSA website, where a two-week loan for $100 carries an annual percentage rate of about 390 percent. To many critics, the terms are outrageous and usurious. But they are typical in the world of high-cost short-term consumer loans, or payday lending, and legal in Minnesota. In fact, the business is supported by some of the ...

New Microsoft CFOs compensation package disclosed

Sat, 18 May 2013 00:02:04 -0400

Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Janet I. ...

Open thread for night owls Stephen Lerner on breaking Wall Streets grip

Fri, 17 May 2013 23:45:19 -0400

[T]o build a new anti-poverty movement will require the kind of organizing and actions that are as creative, visible and gripping as the Occupy Wall Street movement. Enter Stephen Lerner. Lerner is a labor and community organizer who has spent more than three decades organizing hundreds of thousands of janitors, farm workers, garment workers and other low-wage workers into unions. These efforts ...

Oil prices rise on encouraging economic data

Fri, 17 May 2013 22:57:46 -0400

Oil prices extended rally Friday on upbeat US economic data as well as positive performance in US commodity markets.US consumer confidence surged to a six-year high in May thanks to a rising stock market and cheaper gas prices, the monthly Thomson Reuters/University of Michigan index of consumer sentiment reported Friday.The preliminary reading of the consumer sentiment rose to 83.7 in May from ...

China April home prices rise 4.9 percent Reuters calculation

Fri, 17 May 2013 22:42:09 -0400

BEIJING (Reuters) - Average new home prices in China's 70 major cities rose 4.9 percent in April from a year earlier, according to Reuters calculations based on official data published on Saturday, marking the fourth straight month of year-on-year ...

St. Paul microlender NDC boosts small entrepreneurs

Fri, 17 May 2013 21:57:05 -0400

Daymn Johnson set up his St. Paul barbershop with a microloan from the Neighborhood Development Center. Here, Johnson gave his son Daymn Jr. a ...

Wells Fargo leads bank foreclosure halt after OCC guidance

Fri, 17 May 2013 21:57:04 -0400

Wells Fargo & Co., the biggest U.S. home lender, halted some foreclosure sales until it can understand new federal guidelines on seizures sent to the nation's large and midsize banks. The rules from the Office of the Comptroller of the Currency dated last month laid out minimum standards that must be met before a foreclosed home can be sold. Citigroup Inc. also said Friday it's ...

Donaldson results miss expectations

Fri, 17 May 2013 21:57:02 -0400

The dull global economy and falling currencies in Europe and Japan are cutting into sales at Donaldson Co., which reported a lackluster third quarter Friday that missed Wall Street expectations. ...

UnitedHealth slow to fix military care backlog Pentagon says

Fri, 17 May 2013 21:57:02 -0400

UnitedHealth Group Inc. is failing to meet terms of a $20.5 billion military contract, causing lingering delays to medical care, a Pentagon official said. The backlogs occurred ...

Report finds Gen Xers lost almost half their wealth in recession questions retirement savings

Fri, 17 May 2013 21:56:56 -0400

NEW YORK - A research report by the Pew Charitable Trusts says younger baby boomers and Generation Xers face an uncertain retirement because of reduced savings, high levels of debt, and losses during the Great Recession. The study found that members of Generation X, who are now between 38 and 47 years old, lost almost half their wealth between 2007 and 2010. Young baby boomers, who are between ...

Bulls Will Drive Market but Bernanke Is Steering

Fri, 17 May 2013 21:45:37 -0400

Federal Reserve Board Chairman Ben Bernanke listens during a meeting of the Financial Stability Oversight Council at the Treasury Department in Washington, ...

NYSE cancels irregular trades in Anadarko stock Bloomberg

Fri, 17 May 2013 21:33:54 -0400

Trading in the shares of the $45.15 billion company plunged to trade at 1 cent per share shortly before markets closed on Friday. The stock gained back its losses and closed up 2.5 pct $90.03 on the New York Stock ...

Yahoo to vote on $1.1 billion Tumblr buy AllThingsD

Fri, 17 May 2013 21:33:54 -0400

SAN FRANCISCO (Reuters) - Yahoo Inc's board will meet on Sunday to vote on whether to offer $1.1 billion in cash for New York-based blogging service Tumblr, tech blog AllThingsD cited sources close to the situation as saying on ...

CORRECTED-UPDATE 2-Investor group calls on SEC to review change in JPMorgan voting

Fri, 17 May 2013 21:08:16 -0400

Fri May 17, 2013 9:08pm EDT (Changes "letter" to "call" in eighth paragraph) By David Henry NEW YORK May 17 (Reuters) - Pension and endowment managers on Friday called on U.S. regulators to review the rules for shareholder voting after a firm collecting ballots for JPMorgan Chase & Co cut off the bank's opponents from polling information. The Council of Institutional ...

Village Voice tosses veteran columnists Musto Feingold

Fri, 17 May 2013 20:46:07 -0400

Turmoil continued to grip the Village Voice today, with owners of the free weekly axing two of its most well-known columnists - Michael Musto, who had penned the gossipy La Dolce Vita for 20 years, and veteran theater critic and 2009 Pulitzer Prize finalist Michael Feingold.Feingold was a staffer for 30 years. "As of next week, veteran gossip columnist Michael Musto and longtime theater ...

Mugabe’s party accuses Coca Cola of promoting rival party ahead of election

Fri, 17 May 2013 20:31:22 -0400

A man waits to obtain his national identity card during a voter registration drive in Harare ahead of the general election. Photograph: Philimon ...

San Diegos export potential problematic

Fri, 17 May 2013 19:39:09 -0400

The choice is not whether we compete but whether we do it well or not, and the cost or risk of competing poorly is falling behind. San Diego is faced with trade-related infrastructure capacity constraints in four of the five ways to move people and goods in and out of the region, forcing us to depend upon the increasingly constrained infrastructure located in the greater Los Angeles area. To ...

Northrop Grumman lands $555.6 million contract

Fri, 17 May 2013 19:38:54 -0400

Northrop Grumman's San Diego division has been awarded a two-year Air Force contract potentially valued at $555.6 million to modernize its Global Hawk unmanned aerial vehicles, the Defense Department ...

San Diego firms report March quarter results

Fri, 17 May 2013 19:38:53 -0400

Envision Solar, a San Diego maker of solar tree structures for parking lots and other uses, posted lower sales and larger loss for the quarter ended March 31 compared with the prior ...

Europe investors bow to Africa Asia in U.S. real estate deals

Fri, 17 May 2013 19:38:53 -0400

The panel analyzing capital investment in U.S. real estate, from left, were: John R. Miller, Charles H. Fedalen Jr., Christopher R. Ludeman, J. Michael Stedman and Jon H. ...

Seattles Tableau goes from bedroom startup to Wall Street darling

Fri, 17 May 2013 19:36:15 -0400

The data-visualization company burst onto the public markets Friday with a steller public offering, jumping 64 percent to close at $50.75, up from its initial $31 price. Nearly 100 employees were in New York to celebrate while parties were held at its offices, including its headquarters in Fremont. Ten years earlier the future wasn't so clear, though Chief Executive Christian Chabot always ...

Lloyds’ shares rise above break-even level raising hopes for sell-off of taxpayers’ stake

Fri, 17 May 2013 19:32:20 -0400

The prospect of the Government getting rid of its stake in Lloyds moved closer yesterday as shares in the bank broke the level set as the break-even price for ...

Kudlow The Only Fix for IRS Mess

Fri, 17 May 2013 19:28:46 -0400

When you get right down to it, the political targeting and stalling of tax-exempt applications by the IRS was an effort to defund the Tea Party. Rick Santelli, one of the Tea Party founders and my CNBC colleague, was the first to make this point. I've taken it a step further: The IRS was taking the Tea Party out of play for the 2012 election, as it looked to avoid a repeat of 2010 and ...

This Week on Wall Street 517

Fri, 17 May 2013 19:25:44 -0400

BOSTON (CBS) – How high can the markets go? Dave Caruso from Coastal Capital in Danvers looks into that question as he reviews the Week on Wall Street, with WBZ's Anthony ...

The scandal beneath the fold the need for reform on Wall Street

Fri, 17 May 2013 19:23:13 -0400

Sen. Sherrod Brown, D-Ohio, joins The Cycle to talk about one of the issues that's been held in captivity in D.C. for much longer than other scandals: Wall Street ...

Former BMO Analyst to Pay C$1.2 Million to Settle Insider-Trading Charges

Fri, 17 May 2013 19:14:10 -0400

A former investment-banking analyst at a unit of Bank of Montreal (BMO) agreed to pay a total of 1.2 million Canadian dollars ($1.2 million) among other penalties to settle insider-trading charges, as Canada's biggest securities regulators continue to clamp down on inappropriate trading activity.The Ontario Securities Commission alleged that Ming Chao Zhao used insider information on five ...

Target goes hunting in Silicon Valley following Wal-Mart

Fri, 17 May 2013 19:13:50 -0400

By Alistair Barr SAN FRANCISCO | Fri May 17, 2013 7:13pm EDT SAN FRANCISCO May 17 (Reuters) - Target Corp said on Friday it opened a new San Francisco office to track down technology companies that can help the second-largest U.S. retailer grow its online commerce business. Target's Technology Innovation Center is run by David Newman, an executive who spent six years at the online ...

Nigel Wright who gave Senator $90000 broke cardinal rule of crisis management

Fri, 17 May 2013 19:12:55 -0400

Any day now, Prime Minister Stephen Harper should appear before the Canadian public with that chastened look most leaders who've been broadsided eventually adopt. Think Royal Bank of Canada's CEO Gord Nixon after last month's fallout over the temporary foreign workers fiasco. Mr. Harper, like Mr. Nixon, won't have much choice. Why? Because the Prime Minister's chief of ...

Alberta’s new bold stance deserves credit

Fri, 17 May 2013 19:12:55 -0400

Albertans hurt by deep budget cuts due to shrinking provincial revenue from discounted bitumen prices may question the province's bold buildup of its international ...

Wall Streets Record-Breaking Week

Fri, 17 May 2013 19:09:30 -0400

The S&P 500 also closed the week at an all-time high. Like the Dow, the S&P is up just about 17 percent this year. The S&P has also been up 17 of the last 21 ...

US STOCKS-Dow SP end at records stocks mark 4th week of gains

Fri, 17 May 2013 19:00:19 -0400

* JPMorgan lifts S&P 500 year-end target to 1,715 * Nasdaq closes at highest since October 2000 * JCPenney shares drop after earnings * Tableau Software surges in first day of trade * Dow up 0.8 percent, S&P 500 up 1 percent, Nasdaq up 1 percent ...

US stocks blaze to new record highs

Fri, 17 May 2013 18:47:15 -0400

US stocks closed out another week of new record highs on Friday as investors focused on the positive side of mixed economic news and corporate earnings. Retail sales barely budged higher in April and jobless claims rose, but permits to build housing soared and consumer inflation remained tame, data showed. A pair of better-than-expected reports on Friday - on consumer confidence and the economic ...

China deal ends distraction but not questions for Caterpillar

Fri, 17 May 2013 18:31:24 -0400

Reuters © The company logo is seen on top of a building, where Caterpillar (China) Investment Co., Ltd. is located, in Beijing, January 22, 2013. REUTERS/Jason ...

200 jobs up for grabs at restaurant

Fri, 17 May 2013 18:28:48 -0400

The Huntington Beach-based chain, which currently has 11 restaurants, is conducting interviews Monday through Saturday from 9 a.m. to 1 p.m. and 2 p.m. to 5 p.m., on site in the restaurant space at the Westfield Mission Valley mall, 1202 Camino Del Rio ...

Street work to cause traffic delays

Fri, 17 May 2013 18:28:47 -0400

CARLSBAD -; Resurfacing has begun on two major downtown Carlsbad streets that could cause traffic delays in the next few weeks, city officials have ...

Gen Y still flocks to malls

Fri, 17 May 2013 18:28:47 -0400

A lot of popular assumptions about the Generation Y are dead wrong, experts said at an Urban Land Institute workshop Thursday, and that has big implications for retailers in the coming ...

Wall Street Beat Market stokes tech IPOs as Tableau and Marketo debut

Fri, 17 May 2013 18:19:47 -0400

IDG News Service - A strong stock market could open the floodgates for more tech IPOs in the wake of Friday's solid debut of Marketo and Tableau, but not all segments of IT may be able to ride the wave. Marketo, which sells cloud-based marketing software, jumped 78 percent to close at US$23.10, up $10.10 from its opening on the Nasdaq. Tableau, a business intelligence and data visualization ...

Beer Me Up Scottie A Star Trek Brew

Fri, 17 May 2013 18:19:36 -0400

: This week marked American Craft Beer Week, a week long celebration of the craft beer industry, put on the map by the Brewers Association. To mark the occasion, Market Research firm Mintel released some data from several of its recent beer reports that sheds light on ...

Strong economic data pushes US stocks to new records

Fri, 17 May 2013 18:16:06 -0400

Stocks closed higher for a fourth straight week. Indexes are at record levels after surging this year on optimism about the economy and record corporate ...

Passengers in Wall Street ferry crash file 37 lawsuits

Fri, 17 May 2013 18:08:12 -0400

1 of 2. New York City emergency responders investigate a commuter ferry crash that occurred during the morning rush in New York, in this January 9, 2013 file photo.Passengers aboard the high-speed commuter ferry, which crashed while docking near Wall Street have filed 37 lawsuits against boat owner Seastreak LLC, seeking as much as $45 million ...

Tableau Software shares close up 64 percent in market debut

Fri, 17 May 2013 18:08:11 -0400

Christian Chabot, (bottom R) CEO of Tableau Software, waits for his company's stock to begin trading on the floor of the New York Stock Exchange, May 17, ...

Behind EnerCare’s decision to change its annual meeting locale

Fri, 17 May 2013 18:04:06 -0400

EnerCare Inc. is a Toronto-based company best known for renting about 1.2 million water heaters and other assets, mainly to residential customers in Ontario and providing sub-metering services for electricity, heat and water to condominiums and apartments largely in Ontario and Alberta. It has been public since late 2002, having morphed out of The Consumers Waterheater Income Fund, following the ...

US stocks rise on hopeful signs for the US economy market rises for a fourth week straight

Fri, 17 May 2013 18:03:13 -0400

NEW YORK, N.Y. - Encouraging news about the U.S. economy is extending the stock market's rally. U.S. stock indexes rose for the fourth week in a row and are at record levels. A gauge of future economic activity rose more than analysts had expected, as did a measure of consumer confidence. The Dow Jones industrial average rose 121 points to close at 15,354 Friday, an increase of 0.8 per ...

Pew Gen Xers boomers not saving enough

Fri, 17 May 2013 18:02:58 -0400

NEW YORK A research report by the Pew Charitable Trusts says younger baby boomers and Generation Xers face an uncertain retirement because of reduced savings, high levels of debt and losses during the Great Recession. The study found that members of Generation X, who are now between 38 and 47 years old, lost almost half their wealth between 2007 and 2010. Young baby boomers, who are between 48 ...

Kill My Wife Then Feed My Dogs Hitman Asked

Fri, 17 May 2013 18:00:38 -0400

Fred Knadler, 75, in jail (right) and in a photo provided by his wife, Libby. Knadler faces charges of conspiracy to commit murder and conspiracy to commit abandonment of a body. He has pleaded not ...

Powerball Jackpot May Near $1B

Fri, 17 May 2013 18:00:38 -0400

The estimated jackpot for Saturday's Powerball drawing has swelled to a record $600 million for the popular lottery game, but one official estimated today that if it goes unclaimed the prize would zoom to nearly $1 billion. The biggest lottery jackpot ever was $656 million for the Mega Millions drawing on March 30, 2012. The previous record for a Powerball jackpot was $587.5 million on ...

Energy Dept. approves natural gas export catalyst

Fri, 17 May 2013 17:55:57 -0400

The U.S. Department of Energy has approved a $10 billion natural gas exporting facility in Texas that has significant economic implications, manufacturers say. The project called the Freeport LNG facility was "not inconsistent with the public interest," said the Energy Department, which studied the facility's "economic, energy security, and environmental impacts." The ...

A year after IPO stock still stagnant Facebook looks to become an advertising giant

Fri, 17 May 2013 17:20:18 -0400

Facebook CEO Mark Zuckerberg walks at the company's headquarters in Menlo Park, Calif., Thursday, April 4, 2013. Zuckerberg says the company is not building a phone or an operating system. Rather, Facebook is introducing a new experience for Android phones. The idea behind the new Home service is to bring content right to you, rather than require people to check apps on the ...

Renting better than buying in the Twin Cites

Fri, 17 May 2013 17:20:17 -0400

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 ...

CEO Pay Watch Joseph Puishys Apogee Enterprises Inc.

Fri, 17 May 2013 17:20:16 -0400

Apogee Enterprises Inc. Joseph Puishys, president, CEO Total compensation: $2,408,130 for the year ended March 1. Salary: $625,961 Non-equity incentive pay: $1,200,000 Other compensation: $78,381 Value realized on vesting shares: ...

Two popular eateries close doors on Lake Elsinores Main Street

Fri, 17 May 2013 17:19:50 -0400

Sean O'Grady walked into a shop Thursday morning in downtown Lake Elsinore with a bewildered look on his face and, motioning to the adjacent storefront, asked the proprietor, "What happened ...

Top Ten MarketWatch’s top 10 stories May 13 - 17

Fri, 17 May 2013 17:15:50 -0400

terms of use . Historical and current end-of-day data provided by SIX Financial Information. Intraday data delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc. All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More information ...

The crude reality of oil prices | Tom Bower

Fri, 17 May 2013 17:12:55 -0400

The bankers have finally got their revenge. Oil traders claim that influential bankers - furious that their sector has been squeezed by regulators since ...

Cannabis Colorados budding industry

Fri, 17 May 2013 17:12:55 -0400

Dispensaries selling cannabis bath salts, 'bud-tenders' advising on blends, even a marijuana university. As Colorado gears up for legalisation, we get the dope on Denver's 'green ...

Chief Funster Yep Thats a Job

Fri, 17 May 2013 17:10:16 -0400

From the land down under that brought you the "Best Job in the World" -- island caretaker! -- comes a contest for, not one, but SIX dream jobs: chief funster, outback adventurer, park ranger, wildlife caretaker, taste master, and lifestyle photographer. Each of the six jobs takes place in a different state or territory of Australia and involves a six-month contract with a salary package ...

NBC CW Network Jump Into TV Everywhere

Fri, 17 May 2013 17:10:16 -0400

The blurring of the line between what you watch on TV and what you stream over the Internet continues to get hazier. This morning, more proof that the watching of television is quickly ...

How Facebook Makes Money On You All Your Friends

Fri, 17 May 2013 17:10:15 -0400

UPDATE 2-Sacramento Kings owners reach deal to sell team to local investors

Fri, 17 May 2013 17:05:46 -0400

Fri May 17, 2013 5:05pm EDT By Eric M. Johnson May 17 (Reuters) - The owners of the Sacramento Kings basketball franchise have struck a tentative deal to sell the California team to local investors after the National Basketball Association denied a proposal to move the team to Seattle, Sacramento Mayor Kevin Johnson said on Friday. The deal by an investor group led by tech developer and ...

COMMODITIES-Up broadly on strong US economic data gold slumps

Fri, 17 May 2013 17:02:39 -0400

* Oil, copper up on strong US consumer sentiment, stock market * Corn up too on less sales by farmers focused on planting * Gold at 1-month low as Fed pressured to end US stimulus By Barani Krishnan NEW YORK, May 17 (Reuters) - Oil and copper prices ended up on Friday after stronger U.S. economic data and a stock market rally while corn rose on less crop sales by farmers, pushing commodities ...

SAC Capital wont cooperate unconditionally with government letter

Fri, 17 May 2013 16:57:19 -0400

NEW YORK (Reuters) - Steven A. Cohen's hedge fund SAC Capital Advisors told investors on Friday it would no longer cooperate unconditionally with the U.S. government's insider trading ...

Exclusive Onex fails to find buyer for Carestream Health

Fri, 17 May 2013 16:57:19 -0400

Onex Chairman of the Board, President, and Chief Executive Officer Gerald Schwartz speaks at their annual general meeting for shareholders in Toronto, May 6, ...

Judge revives Dexia lawsuit vs. JPMorgan over mortgage claims

Fri, 17 May 2013 16:57:18 -0400

Citing a recent federal appeals court decision, U.S. District Judge Jed Rakoff in Manhattan said he had lacked jurisdiction when he threw out much of the lawsuit on April 2. That ruling dismissed claims for all but $5.7 million of the roughly $774 million of damages that Dexia ...

Transocean chairman voted out $2.24share dividend backed

Fri, 17 May 2013 16:57:17 -0400

RIG.N ) shareholders voted out Chairman Michael Talbert at the annual meeting on Friday and backed a nominee of activist investor Carl Icahn to replace him on the board of the world's largest offshore drilling ...

ENRC Rebuffs Initial Consortium Approach of Cash and Shares

Fri, 17 May 2013 16:54:17 -0400

U.K.-listed, Kazakhstan-focused miner Eurasian Natural Resources Corp. PLC (ENRC.LN) rejected Friday an indicative cash and shares offer from a consortium of buyers on grounds that it materially undervalued the business.The FTSE-100 miner, however, said it has secured an extension from the U.K. Takeover Panel until June 3 to allow the consortium more time to revise its bid. The consortium will ...

MARKET SNAPSHOT U.S. Stocks Notch Records Fourth Week Of Gains

Fri, 17 May 2013 16:54:17 -0400

NEW YORK – U.S. stocks on Friday advanced to a fourth weekly gain, with both the Dow industrials and the S&P 500 at all-time closes, after data cast a positive spin on the economy.The Conference Board's leading economic index rebounded in April from a downwardly revised reading in March. Separately, the initial May reading of the University of Michigan and Thomson Reuters ...

TECH STOCKS Tableau Marketo IPOs Stand Out In Tech Stocks

Fri, 17 May 2013 16:54:17 -0400

SAN FRANCISCO – It was IPO Friday for the tech sector, as enthusiasm for the public debuts of Tableau Software Inc. and Marketo Inc. reached lofty levels, and Facebook Inc. managed to eke out a small gain on the one-year anniversary of its controversial IPO.Facebook (FB) ended th day up by 12 cents at $26.25, but the social-networking giant's shares are still down 30% since the company ...

A Gold Forecast that Will Shock the World

Fri, 17 May 2013 16:54:16 -0400

How ugly has the gold market gotten? So ugly that even goldbugs are completely dazed and confused. Here's just a brief summary of their hilarious views over the past few months: Gold's Uptrend is Still Intact: Peter Schiff - Yahoo! Daily Ticker (Dec.6, 2012)Gold at $5,000 and beyond: Peter Schiff sticks to his call - MarketWatch (Feb.13, 2013)James Turk ups his $8,000 an ounce peak gold ...

Ingves Says Banks Wont Have Limitless Freedoms in Risk Weighting

Fri, 17 May 2013 16:54:16 -0400

The chairman of the Basel Committee on Banking Supervision said Friday banks aren't likely to have unlimited choices when it comes to risk-weighting and expects limits to be set.You are "seeing a direction toward floors, so that you will not have at the end of the day virtually an unlimited number of degrees of freedom," said Stefan Ingves, who is also the chief of Sweden's ...

Oil price probe widens senator wants Justice Department help

Fri, 17 May 2013 16:53:40 -0400

LONDON/WASHINGTON (Reuters) - A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands and a key U.S. senator on Friday called for the Justice Department to join the ...

Natural gas jumps as U.S. approves LNG export project

Fri, 17 May 2013 16:52:57 -0400

WASHINGTON -- The Obama administration opened the door to a new era of U.S. energy exports on Friday, approving the first natural gas project since the start of a heated debate over how best to benefit from the shale energy boom. The Energy Department's approval of natural gas exports to all countries from Freeport LNG's Quintana Island, Texas, terminal ends nearly a two-year pause in ...

SNC-Lavalin says former executive Stephane Roy’s illegal actions justify dismissal

Fri, 17 May 2013 16:52:57 -0400

MONTREAL -- SNC-Lavalin says it was justified in firing a former executive last year because it claims he acted illegally to help smuggle the son of Libya dictator Moammar Gadhafi to Mexico. The engineering giant is defending itself against a nearly $1-million wrongful dismissal lawsuit filed by former controller Stephane Roy. In a 16-page statement of defence filed in Quebec Superior Court, ...

Stocks surge to new records

Fri, 17 May 2013 16:51:53 -0400

NEW YORK Encouraging news about the U.S. economy sent stocks surging into the close Friday. A gauge of future economic activity rose more than analysts had expected, as did a measure of consumer confidence, adding to evidence that the economy is steadily recovering. The Dow Jones industrial average closed up 121 points at 15,354. The S&P 500 gained 15 points to close at 1,666. The Nasdaq ...

GM stock above $33 IPO price first time in 2 years

Fri, 17 May 2013 16:51:52 -0400

GM ) reached an important milestone on Friday, topping their initial public offering price of $33 for the first time in more than two years. The automaker's stock, which has been on a tear since January, reached $33.58 Friday morning before slipping back to $33.52, up 3.5 percent, around midday. The auto giant sold shares to the public for $33 in a November 2010 IPO, but they hadn't ...

Watch Man Fights to Save Home From Foreclosure Despite Payments

Fri, 17 May 2013 16:49:13 -0400

ET in south or says he's worked his whole life for this home in Orlando first wife and three children he's a Haitian immigrant a bus driver at Walt Disney World. And at times has worked multiple ...

Temecula panel toasts Karl Strauss Brewings plans

Fri, 17 May 2013 16:08:02 -0400

TEMECULA -; It will be tough for motorists to avoid noticing the Karl Strauss Brewing restaurant and brewery that's replacing the long-vacant On the Border building at the corner of Ynez and Winchester ...

Crude Oil Ends Above $96 On Upbeat Economic Data

Fri, 17 May 2013 16:07:31 -0400

markets after some upbeat macroeconomic data out of the U.S. raised hopes of an economic recovery, even as the dollar strengthened against a basket of major currencies.In some positive economic news, leading economic indicators in the U.S. rose more than anticipated to 0.6 percent in April led by building permits and the interest rate spread, a Conference Board report showed Friday. Meanwhile, ...

Oil rises above $96 on encouraging economic news

Fri, 17 May 2013 16:02:52 -0400

NEW YORK - The price of oil rose to $96 a barrel on Friday on hopes that a steady recovery in the U.S. economy could boost fuel use.Benchmark oil for June delivery rose 86 cents to close at $96.02 a barrel on the New York Mercantile Exchange. But even with three straight days of gains, oil finished the week down 2 cents.A gauge of future economic activity in the U.S. rose more than analysts ...

The Whos Who at Facebook

Fri, 17 May 2013 15:57:57 -0400

Facebook went public a year ago, the spotlight was on three principal characters: CEO Mark Zuckerberg, COO Sheryl Sandberg, and CFO David Ebersman. The three C-suiters were on the public stage throughout the company's road show presentations to potential investors, and literally on stage together as they rang the opening bell the day of its IPO. Zuckerberg and Sandberg have had a ...

Two states say 2014 Obamacare insurance costs on low side

Fri, 17 May 2013 15:45:42 -0400

(Reuters) - In a boost for President Barack Obama's healthcare reform law, two states in the Northwest said on Friday that insurance companies submitted applications to sell policies on the states' health insurance exchanges at rates well below what some insurance executives had ...

Obama budget would cut deficit by $1.1 trillion over decade CBO

Fri, 17 May 2013 15:45:36 -0400

House Budget Committee member Marsha Blackburn (R-TN) is handed a copy of U.S. President Barack Obama's FY2014 budget proposal upon its arrival on Capitol Hill in Washington April 10, ...

Unemployment rates drop in most states Illinois climbs

Fri, 17 May 2013 15:45:36 -0400

WASHINGTON (Reuters) - Unemployment rates dropped in 43 out of the 50 U.S. states and in the District of Columbia in April from a year before, according to Labor Department data released on ...

FCC nominee Wheeler to divest telecoms holdings if confirmed

Fri, 17 May 2013 15:45:36 -0400

U.S. President Barack Obama (unseen) announces venture capitalist Tom Wheeler to head the Federal Communication Commission (FCC) at the State Dining Room of the White House in Washington, May 1, ...

All eyes on Vodafones Colao for signs on Verizon

Fri, 17 May 2013 15:45:34 -0400

Vodafone's new Chief Executive Vittorio Colao poses for photos after their company's annual general meeting in a conference centre in Westminster, London July 29, ...

Dont be fooled by Googles Prius-driving babyfacery | Marina Hyde

Fri, 17 May 2013 15:43:01 -0400

Google, and noticed it was suffering a little local difficulty in the UK . And anyway, I've no idea whether the moral rectitude of paying tax is one of the wholesome values being so expensively instilled into them. But it wouldn't take long for them to grasp the lesson, because children have an innate sense of fairness.The journey into adulthood does its best to disabuse them of this, ...

California approves Tesoros buy of BP refinery

Fri, 17 May 2013 15:42:30 -0400

WASHINGTON – U.S. refiner Tesoro Corp has received formal approval from California's attorney general to buy a BP Plc refinery for more than $2 billion. Attorney General Kamala Harris said her office and the California Energy Commission would monitor gas prices, volume and refinery capacity. A deal with the company also provides for safeguards against price spikes. The U.S. Federal ...

Should Gold Bugs Be Worried About Global Demand

Fri, 17 May 2013 15:42:29 -0400

Since hitting all-time nominal highs above $1,900 an ounce, the price of gold has suffered an ugly correction. The precious metal recently logged its second consecutive quarterly loss, and remains stuck in a downtrend. Some investors have become discouraged, but demand is not as bearish as one might think.In the first quarter of 2013, total gold demand reached 963 tonnes, representing a 13 ...

Venezuela to allow oil joint ventures with CNOOC and Chevron

Fri, 17 May 2013 15:41:03 -0400

Petroleos de Venezuela SA will allow joint ventures with China National Petroleum Corp. and Chevron Corp. to manage US$6-billion in loans designed to revert oil output declines, said a PDVSA official. The state-owned producer reached agreements on terms of a US$2-billion credit from Chevron for the Petroboscan venture and a US$4-billion loan from China Development Bank for Sinovensa, said the ...

US STOCKS SNAPSHOT-SP up 1 pct as rally pushes forward

Fri, 17 May 2013 15:40:38 -0400

NEW YORK | Fri May 17, 2013 3:40pm EDT NEW YORK May 17 (Reuters) - U.S. stocks extended gains in late trading on Friday, with the S&P 500 up 1 percent and at a fresh record high, led by growth sectors after upbeat data encouraged investors. The Dow Jones industrial average rose 122.67 points or 0.81 percent, to 15,355.89, the S&P 500 gained 16.67 points or 1.01 percent, to 1,667.14 and ...

Steak n Shake Waitress Scores $446 Tip on $6 Check

Fri, 17 May 2013 15:37:10 -0400

Getty Images If service with a smile results in a good tip, then Steak n’ Shake waitress CeCe Bruce is smiling from ear to ear. Bruce, a waitress for the past two years at a Steak n’ Shake in Indianapolis, is $446 richer after a longtime customer left her a tip in that amount on a $5.97 order. ';My first reaction was, ‘Miss Jo, I’m not taking your ...

Treasury Secretary Lew says administration will start procedures to avoid defaulting on debt

Fri, 17 May 2013 14:56:44 -0400

WASHINGTON - Treasury Secretary Jacob Lew is telling Congress that the administration will begin taking steps next week to avoid a default on the nation's debt until Congress votes to raise the government's borrowing limit. Lew said those measures should provide enough maneuvering room to let the government keep borrowing until after Labor Day. Private economists have estimated that ...

Steady hiring pushes down unemployment rates in 40 US states in April only 3 report increases

Fri, 17 May 2013 14:56:44 -0400

In this Tuesday April 9, 2013, photo, more than 2,000 people navigate the tables spread out at Raleigh United Methodist Church during the church's bi-annual job fair in Memphis, Tenn. The government reports on state unemployment rates for April on Friday, May 17, 2013. (AP Photo/The Commercial Appeal, Mike ...

Syrias pro-Assad hackers hijack Financial Times blog Twitter feeds in latest media attack

Fri, 17 May 2013 14:56:42 -0400

LONDON - A clutch of Twitter accounts and a blog maintained by the Financial Times were hacked Friday, the latest in a series of cyberattacks claimed by the Syrian Electronic Army, a pro-government group which has regularly targeted media organizations it sees as sympathetic to the country's rebels. A few of the FT's dozens of Twitter feeds and blogs broadcast messages supporting ...

HUD offices to take furlough day

Fri, 17 May 2013 14:56:17 -0400

Sequestration cuts have pushed the federal housing agency to close its offices nationwide on May 24 and possibly six additional days, the department said ...

Facebook traffic may have plateaued but profit potential is looking up

Fri, 17 May 2013 14:48:51 -0400

The memory of Facebook's painful stock market debut a year ago today is at last beginning to fade. Not for investors who bought at the opening price of $38 - their shares are still trading 70% below that - but by other measures the world's largest social network has made seemingly unstoppable progress.In October, founder Mark Zuckerberg announced in a status update on his Facebook page ...

Platts clashes with global watchdog over oil price row

Fri, 17 May 2013 14:48:50 -0400

oil price fixing recently argued with a key international watchdog that there was no need for its benchmarks to be brought under the oversight of an outside regulator.Platts, which is based in New York and owned by US publisher McGraw-Hill, said transparency and independence were the key to robust energy benchmarks and said they should be free from "undue influence, including from public ...

Ministry of Justice brings in auditors to investigate tagging contracts

Fri, 17 May 2013 14:48:48 -0400

Electronic tag for offenders. Justice secretary Chris Grayling said: 'My priority is to ensure that taxpayers' money is spent appropriately and delivers value for money.' Photograph: Toby ...

Lloyds share price surge boosts prospect of bailout sale

Fri, 17 May 2013 14:48:46 -0400

Lloyds CEO Antnio Horta-Osrio, who would be in line for a 1.5m bonus if a third of the taxpayer's 39% stake could be sold off at Friday's 62.8p closing price. Photograph: Bloomberg/Bloomberg via Getty ...

Lib Dem minister urges coalition to carry out plain cigarette packet plan

Fri, 17 May 2013 14:48:45 -0400

A health minister has urged the coalition to press ahead with forcing cigarettes to be sold in plain packets to reduce sales, despite the plan being dropped from the Queen's speech because of unease in Downing Street.Norman Lamb, a Liberal Democrat, has urged ministers to make Britain the first country in Europe to adopt what he claims would become a key element of the legacy of ...

Divorce from Waitrose now the only risk for Ocado

Fri, 17 May 2013 14:48:43 -0400

o Morrisons and Waitrose planning for a long alliance?o Make your mind up time for Sir Stelioso HS2: trains and turkeyso Thomas Cook in the game ...

Sony PlayStation 4 Riding Wave Of Twice The Social Media Buzz Of New Microsoft Xbox

Fri, 17 May 2013 14:48:19 -0400

Sony was smart to get the head start on Microsoft in a next gen console battle that figures to be a two-company race, as Nintendo struggles to build momentum for Wii U. According to Jen Handley, COO and co-creator of Fizziology, PlayStation is currently seeing almost twice as much social chatter as the next gen Xbox. "Microsoft will have the upper hand after its official showcase next ...

Cisco Stock Still Undervalued Earnings Better Than They Look

Fri, 17 May 2013 14:48:18 -0400

for awhile , so its 13% rise since reporting quarterly earnings late Wednesday that exceeded analyst expectation was nice for me to see. Even with the surge in its stock price, CSCO is still very undervalued due to GAAP earnings that understate the true profitability of the company. A variety of unusual expenses hidden in operating items totaling $530 million dollars (over 5% of net income after ...

Powerball Winner Will Pay Up

Fri, 17 May 2013 14:46:13 -0400

If you're lucky enough to win the upcoming $600 billion Powerball, you'll also be putting a big smile on Uncle Sam's face. And when it comes time to give the tax man his share, your total bill will have a lot to do with which state you live in. If you bought a ticket and live in Florida, your luck is still holding. It doesn't tax lottery winnings. But a New York City Powerball ...

Elizabeth Warren Slams ‘Dangerous’ Legislation That Would Weaken Wall Street Reform

Fri, 17 May 2013 14:42:25 -0400

overwhelmingly approved a rollback of certain financial reforms contained in the Dodd-Frank Wall Street Reform Act, one of the Senate’s biggest consumer advocates is pushing back. Massachusetts Sen. Elizabeth Warren (D) came out swinging against the repeal of new rules meant to regulate derivatives, the complex financial instruments that were at ';the center of the storm'; that ...

Not quite the real thing Coca-Colas secret formula is out of the bottle but can the famous flavour be recreated at home

Fri, 17 May 2013 14:36:21 -0400

Since 1886, the formula for Coca-Cola has been the subject of fevered speculation, and endless marketing campaigns. So, can the flavour be recreated? We dispatched Will Coldwell to give it a go - and sample the ...

Report Facebook and Microsoft flirting with Tumblr too

Fri, 17 May 2013 14:36:16 -0400

eyes for blogging sensation Tumblr . The 6-year-old startup that powers nearly 108 million blogs has piqued the curiosity of both Facebook and Microsoft who seem ready to duke it out over the object of their affection, according to a new report. The Thursday night rumor mill had Yahoo ready to commit to a Tumblr partnership, investment, or possibly even a $1 billion purchase. Now Forbes is ...

ND billboards meant to attract Minnesota consumers

Fri, 17 May 2013 14:35:05 -0400

The Greater North Dakota Chamber has created billboards that mock proposals in the Minnesota Legislature, including bills that would raise certain ...

Treasury to free up $260 billion to avoid debt cap

Fri, 17 May 2013 14:33:51 -0400

WASHINGTON (Reuters) - The Obama administration on Friday notified Congress it was prepared to take a series of steps to free up about $260 billion so it can keep paying the nation's bills once a temporary suspension in the government's debt ceiling lapses this ...

Judge blocks $13 million arbitration against SunTrust

Fri, 17 May 2013 14:33:19 -0400

STI.N ) won a court order on Friday preventing a Connecticut-based hedge fund from moving forward with a $13 million arbitration over mortgage-backed ...

Senator seeks probe into impact of alleged EU oil price manipulation

Fri, 17 May 2013 14:33:19 -0400

WASHINGTON (Reuters) - The chairman of the Senate's energy committee asked the Justice Department on Friday to investigate whether alleged price manipulation by three oil companies in Europe has boosted fuel prices for U.S. ...

Fed has not lowered interest rates enough Kocherlakota

Fri, 17 May 2013 14:33:18 -0400

Minneapolis Federal Reserve Bank President Narayana Kocherlakota speaks at a macro-finance conference hosted by the Boston Federal Reserve Bank and Boston University in Boston, Massachusetts November 30, ...

Bloomberg appoints former IBM chief to advise on data issues

Fri, 17 May 2013 14:33:17 -0400

NEW YORK (Reuters) - Bloomberg LP appointed former IBM Chairman and CEO Samuel Palmisano as an independent adviser on security and data issues, as the company seeks to address customers' concerns about possible breaches in the confidentiality of their usage ...

European stocks rebound on bargain hunting

Fri, 17 May 2013 14:32:01 -0400

"Earlier in the session, European stocks were in negative territory following the comments from two members of the Fed that suggested we could see the asset purchases phased out as early as this summer," Erlam told AFP."As we have seen on numerous occasions recently, this has just been taken as an opportunity to buy the dip and continue to drive the indices.He added: "The fact ...

NHS Poles paracetamol and the myth of health tourism

Fri, 17 May 2013 14:30:36 -0400

Migrants' cost to the NHS is far smaller proportionally than Britons because they are younger, less likely to be ill or to have started a family. The service is also not quite as good as in Poland, ...

Copper Rises on Brighter Economic Data Supply Disruption

Fri, 17 May 2013 14:30:11 -0400

Copper futures settled higher Friday on data pointing to economic improvement in Europe and the U.S. and as one of the world's largest copper mines remains shut after a fatal accident.Copper for July delivery, the most actively traded contract, settled up 2.85 cents, or 0.9%, at $3.3230 a pound on the Comex division of the New York Mercantile Exchange.Copper prices drew strength from data ...

Correction to Transocean CEO Welcomes Merksamer Headline

Fri, 17 May 2013 14:30:11 -0400

Transocean Ltd. (RIG, RIGN.VX) shareholders voted overwhelmingly Friday to reject a $4 a share dividend proposal by activist investor Carl Icahn but ousted long-time company Chairman Michael Talbert and added one of Mr. Icahn's candidates to the offshore drilling giant's board of directors."I'm glad the shareholders took a reasonable and thoughtful approach to the issues and ...

Peru Businessman Mario Brescia Cafferata Dies At Age 84

Fri, 17 May 2013 14:30:10 -0400

LIMA, Peru – One of Peru's richest businessmen, Mario Brescia Cafferata, has died at age 84.Mr. Brescia was chairman of the holding company that owns half of BBVA Continental (CONTINC1.VL), Peru's second-largest bank. The bank Friday confirmed that Mr. Brescia passed on the previous dayHis family group also owns a large number of other companies, including Peruvian tin mining ...

Transocean CEO Confirms Shareholders Rejected Icahns Dividend Proposal

Fri, 17 May 2013 14:30:10 -0400

Abercrombie CEO won’t apologize for saying he only wants ‘cool kids’ to wear brand’s clothes

Fri, 17 May 2013 14:28:44 -0400

Jennifer Lawrence Talks About The Time She Modeled For Abercrombie Jeffries said that his "7-year-old, resurrected quote has been taken out of context," but did admit that the brand "targets its marketing at a particular segment of customers." While exploring why Abercrombie doesn’t make clothes for large ...

Cyprus faces risk of even deeper recession IMF

Fri, 17 May 2013 14:28:43 -0400

WASHINGTON -- The International Monetary Fund said Friday that substantial risks still loom for the Cypriot economy even after a multi-billion dollar international bailout aimed at averting a debt default. A new IMF report predicted a deep recession in Cyprus this year and next and said there is a danger that the downturn could be even more severe if authorities do not adhere strictly to ...

Unemployment How Does Your State Rank

Fri, 17 May 2013 14:25:06 -0400

May 17, 2013 2:06pm More signs that the job market is slowly recovering: 40 states showed a drop in unemployment in April. Louisiana, Tennessee and North Dakota showed an increase in the unemployment rate, while rates were unchanged in seven states, according to the Labor department. The country’s unemployment rate is 7.5 percent, the lowest since December 2008. Although companies are ...

Taco Bell Sued By Prisoner for Stealing Doritos Locos Idea

Fri, 17 May 2013 14:25:06 -0400

Where do wildly popular fast food ideas come from? According to Gary Cole: Prison. That is the contention of Cole, who claims that it was he who invented Taco Bell’s famous Doritos Locos tacos while doing time in maximum security federal prison in Florence Colorado. He is so adamant about it that on May 15 he filed a federal lawsuit in Dallas alleging that Taco Bell, along with ...

Wall Street rally growth stocks in command

Fri, 17 May 2013 14:24:36 -0400

Growth sectors led Wall Street's advance as encouraging economic data put major US stock indexes on track to close their fourth straight week of ...

At noon TSX up on positive U.S. economic data

Fri, 17 May 2013 13:44:43 -0400

North American markets climbed higher Friday after positive data from the U.S. that showed strong signs of economic recovery and Canadian inflation slowed to a crawl."We continue to grind higher here," said Jason Hornett, a portfolio manager with Bissett Investment Management. "People continue to be more and more optimistic here in North America and it definitely bodes well for the ...

Powerball jackpot soars to record $600M

Fri, 17 May 2013 13:44:35 -0400

Images: Luckiest Powerball numbers to play Powerball's previous highest jackpot was $587 million won on Nov. 28, 2012. This jackpot has been growing for 13 consecutive drawings without a top prize winner and has been increased twice since Wednesday night's drawing following a nationwide ticket buying frenzy. As of 12:30 p.m., Powerball tickets in Massachusetts were selling at a rate of ...

Bloomberg appoints ex-IBM CEO as privacy adviser

Fri, 17 May 2013 13:40:00 -0400

Bloomberg LP, the financial news and information service, on Friday said it has appointed Samuel Palmisano, the former CEO of IBM, as an independent adviser on its privacy and data standards.The move comes a week after revelations that Bloomberg journalists had access to some information on customers' use of Bloomberg's data terminals, including when they last logged in.The company ...

Energy Stocks Energy stocks rebound look set for weekly gain

Fri, 17 May 2013 13:38:33 -0400

SAN FRANCISCO (MarketWatch) -- Energy stocks rose Friday, shaking off recent weakness and looking set to end the week with a gain of more than ...

Wal-Mart sale clears Brown Deer CDA

Fri, 17 May 2013 13:37:22 -0400

May 17, 2013 11:36 a.m. | Brown Deer - After closed session negotiations Wednesday evening, the Community Development Authority unanimously approved a termination of its original 2006 agreement with Lowe's and approved a new agreement with Wal-Mart to develop the vacant Lowe's building on Brown Deer Road. The CDA's actions amount to recommendations to the Village Board, which will ...

London risk takers to be hit by EU bank bonus cap

Fri, 17 May 2013 13:34:54 -0400

European Union , is thought to have approved proposals that would require a cap on bonuses for anyone whose pay is more than EUR500,000 (420,000).It is the latest development on the law published in March that will require bonuses for certain bank staff in the EU to be capped at 100% of their salary - or at 200% if shareholders give their approval.The proposals, expected to be published early ...

Flooding threatens one in four London properties warns Environment Agency

Fri, 17 May 2013 13:34:53 -0400

flooding , according to official assessments of the flood dangers now facing homes in England and Wales. Ten of the top 25 most at-risk local authority areas across England and Wales are now London boroughs.The Environment Agency's 2013 National Flood Risk Assessment, unpublished but seen by the Guardian, shows that London boroughs now dominate the local authorities with most properties in ...

Chime pushes through controversial bonuses for top staff

Fri, 17 May 2013 13:34:52 -0400

advertising group Chime has pushed through bonuses and a controversial "no limit" performance share scheme for top executives, despite more than 50% of shareholders failing to vote them through at its AGM.Chime, which owns businesses ...

Coalition still optimistic about nuclear power despite EDF and China concerns

Fri, 17 May 2013 13:34:50 -0400

EDF does not expect to take a final investment decision on a new reactor at Hinkley Point in Somerset until September at the earliest, says report. Photograph: Martin Argles for the ...

FTSE tests 2007 peaks with Marks Spencer in demand ahead of results

Fri, 17 May 2013 13:34:49 -0400

was in fashion last week after its autumn-winter collection and news of a cutback in suppliers were well received by analysts and investors.But chief executive Mark Bolland faces another test on Tuesday when he unveils an expected drop in full year profits of around 40m to 666m. The shortfall could see Bolland take a hit on his performance related bonus payments.But with hopes that recent ...

Facebook Mobile Much Improved Experts

Fri, 17 May 2013 13:27:39 -0400

Forget Facebook: Stocks, and IPOs, Are Just Fine ) "One of the big complaints at the company's IPO was that it doesn't make any money on mobile, and that was true and fair at the time," said Jason Stein, founder and president of the social media agency Laundry Service. Facebook had zero revenue on its mobile-ad platform when it went public but posted $375 million on mobile in ...

The Worlds Most Dangerous Waters

Fri, 17 May 2013 13:27:38 -0400

Maritime piracy returned from days of old to become a front-of-mind issue for governments, shipping companies, cruise lines, energy firms, global conglomerates and--perhaps most immediately--for sailors in the earliest part of the 21st Century. Since then, while some former piracy hot spots aren't as "hot" as they once were, the criminal phenomenon has persisted and spread ...

Sacramento Kings Owners Reach Deal to Sell Team to Local Investors

Fri, 17 May 2013 13:20:38 -0400

(Reuters) - The owners of the Sacramento Kings basketball franchise have struck a tentative deal to sell the sought-after California team to local investors after the National Basketball Association denied a proposal to move the team to Seattle, a spokesman for Sacramento Mayor Kevin Johnson said on Friday. The deal by an investor group led by tech titan Vivek Ranadive follows months of ...

Hunt for those at fault for Spains bank crisis gains pace

Fri, 17 May 2013 13:13:33 -0400

MADRID (Reuters) - The arrest of a prominent former Spanish banker is raising hopes among campaigners that the hunt for those responsible for the problems inherited by Bankia ...

Gold falls to one-month low as Fed comments lift dollar

Fri, 17 May 2013 13:13:32 -0400

LONDON (Reuters) - Gold fell for a seventh straight session on Friday, its longest losing streak in four years, as speculation that the Federal Reserve may soon rein in monetary easing lifted the ...

Ex-financial adviser gets probation for municipal bid-rigging

Fri, 17 May 2013 13:13:32 -0400

NEW YORK (Reuters) - A former chief executive of a financial firm who pleaded guilty to charges related to bid-rigging in the municipal bond market was sentenced to two years probation on Friday by a judge who cited his cooperation with U.S. ...

MarketWatch First Take The endangered Wall Street bonus system

Fri, 17 May 2013 13:11:24 -0400

SAN FRANCISCO (MarketWatch) -- The pay crunchers over at Johnson & Associates are out with their latest forecast for year-end bonuses on Wall ...

U.S. Cites Bank of Montreal for Money-Laundering Weakness

Fri, 17 May 2013 13:10:34 -0400

U.S. regulators Friday ordered Bank of Montreal (BMO), the eighth-largest bank in North America by assets, to strengthen its anti-money-laundering programs, citing deficiencies in its U.S. subsidiary's efforts at risk management and compliance with the Bank Secrecy Act.The U.S. Federal Reserve said the Canadian bank's U.S. subsidiary "lacked effective systems of governance and ...

LONDON MARKETS Banks Lift U.K. Stocks To 512-year High

Fri, 17 May 2013 13:10:33 -0400

LONDON – U.K.'s benchmark was back on a strong footing on Friday, after breaking a 10-day winning streak the prior day, with banks advancing after a broker upgrade and oil firms showing positive moves.The FTSE 100 index climbed 0.5% to 6,723.06, closing at the highest level since October 2007. On the week, the index gained 1.5%.Banks posted some of the biggest gains, after analysts at ...

Russia Court Places Rosbank CEO Under House Arrest - Reports

Fri, 17 May 2013 13:10:32 -0400

A Russian court Friday placed the chief executive of Societe Generale SA's (GLE.SA) local unit under house arrest for two months while police investigate bribery charges him, Russian news agencies reported.Rosbank CEO Vladimir Golubkov was charged Thursday by Russia's top law-enforcement body, the Investigative Committee, with committing large-scale bribery. Police detained him ...

EUROPE MARKETS European Stocks Rise To Highest Level Since 2008

Fri, 17 May 2013 13:10:32 -0400

LONDON – Europe's benchmark stock index closed at its highest level since June 2008 on Friday, with banks in the driver's seat after better-than-expected data from the U.S. removed some worries about the country's recovery.The Stoxx Europe 600 index rose 0.2% to close at 308.72, posting a 1.2% weekly gain.The upbeat end to the week marked the fourth straight week in positive ...

Gold on Path to Fresh Two-Year Low

Fri, 17 May 2013 13:10:31 -0400

Gold extended its declines Friday, breaking below the closing price after the metal's record-setting April selloff and putting futures on track for a fresh 26-month low.Gold for June delivery was recently down $27.20, or 2%, at $1,359.70 a troy ounce on the Comex division of the New York Mercantile Exchange.The contract traded as low as $1,358.90 a troy ounce, below the April 15 settlement ...

Chile CMPC 1Q Net Falls 32 Year-On-Year to $84.2 Million

Fri, 17 May 2013 13:10:31 -0400

Chilean wood-pulp and paper producer Empresas CMPC SA's (CMPC.SN) first-quarter net profit fell 32% year-on-year to $84.2 million, the company said Friday.CMPC, Chile's second-largest wood-pulp producer by volume, said profit declined partly on higher costs and operational expenses in its forestry division and the impact the peso's exchange rate had on its tax payments.The company ...

McDonald’s mulls slashing bloated U.S. menu amidst heightened competition

Fri, 17 May 2013 13:09:06 -0400

McDonald's is cutting the Angus burger from its menu. McDonald's Corp. is dropping the $4 sandwich from its U.S. lineup as its hard-hit customers throng to the company's Dollar Menu. New items are being added, Danya Proud, a company spokeswoman, said in an e-mail. She declined to be ...

U.S. seizes accounts of major Bitcoin exchange based in Japan

Fri, 17 May 2013 13:09:06 -0400

ST. LOUIS -- U.S. authorities have seized two accounts linked to a major operator in the booming Bitcoin digital currency market, Tokyo-based exchange Mt. ...

U.S. military clears Apple devices for use on its networks

Fri, 17 May 2013 13:09:05 -0400

The Pentagon cleared Apple Inc. devices for use on its networks, setting the stage for the maker of iPhones and iPads to compete with Samsung Electronics Co. and BlackBerry for military ...

Crowdfunding Meet the Koch brothers

Fri, 17 May 2013 13:08:00 -0400

$660 million ? That's the amount a project on crowdfunding site Indiegogo is trying to raise to buy the Tribune Company, owner of such newspapers as the Los Angeles Times, Chicago Tribune, and Baltimore Sun, as well as 23 television stations and online sites. When most people talk about buying a newspaper, they mean a copy of the day's issue for a buck. But the advocacy group The Other ...