Latest Breaking Business News
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Al Jazeera to launch US channel in August
WASHINGTON - Al Jazeera's new American channel coming in summer hopes to be different with lesser focus on celebrities or other tabloid fodder found on U.S. television news. Al Jazeera America hopes to stand out with a diet heavy on "fact-based, in-depth, long-format news." According to Ehab Al Shihabi, executive director of international operations for Al Jazeera Media Network, Al Jazeera ...
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Private drug firm Aragon being acquired by Johnson and Johnson
WASHINGTON - Healthcare products conglomerate Johnson Johnson is buying privately-held Aragon Pharmaceuticals in a near $1 billion deal to gain control of its experimental drugs for prostate cancer. The acquisition of Aragon Pharmaceuticals includes its androgen receptor antagonist program targeting the treatment of prostate cancer, including its primary product candidate in phase 2 ...
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Australian consumer body reports $94mn losses due to shopping scams
SYDNEY - Australian consumers were fleeced of nearly $94 million last year due to various marketing scams, with the majority being perpetrated using text messages and direct calls, Australian Competition and Consumer Commission said in its latest report. The actual number of losses due to scams could be much higher because many go unreported, stated ACCC Deputy Chair Delia Rickard. The ...
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Chevron begins production and shipment from Angola LNG
SAN RAMON, California - Production and shipment of liquefied natural gas (LNG) from Angola by Chevron Corporation's subsidiary Cabinda Gulf Oil Company Limited has commenced with the first consignment being sent to Brazil, the global energy giant has confirmed. Angola LNG is one of the largest energy projects on the African continent. "First gas at Angola LNG is an important milestone in ...
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Chrysler recall avoids showdown with government over Jeep models for fire risk
DETROIT -- Chrysler abruptly agreed to recall 2.7 million older model Jeeps Tuesday, reversing a defiant posture and avoiding a possible public relations nightmare over fuel tanks that can catch fire in a rear-end collision. In deciding on the recall, Chrysler avoided a showdown with government safety regulators that could have led to public hearings with witnesses giving details of deadly ...
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Turkeys economy is still strong but vulnerable
After a volatile 1990s and a huge bust in 2001, his Justice and Development government has presided over steady high growth and modest inflation. In 2010 and 2011 the economy grew by a China-like 9 percent, leading to serious fears of ...
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Foreclosures fall to nearly 7-year low
San Diego County foreclosures have plummeted to a nearly seven-low year -- in light of rising home values, the effects of government intervention and new protections for California consumers, said real estate tracker DataQuick on ...
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Amid Security Concerns Microsoft Drops Linked Outlook Accounts For Aliases
While Microsoft has long supported linked accounts for its Hotmail and Outlook email services, the Redmond-based software giant recently noted these can be tempting targets for hackers. In a surprising move, the company has opted to sever those links entirely. On Monday, Microsoft announced it would drop linked accounts for ...
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Microsoft slashes Surface RT prices by 60 for schools
Computerworld - Microsoft today confirmed that it has heavily discounted the Surface RT tablet to universities and K-12 schools, cutting the price of the entry-level model by 60%. It was the third time within a month that Microsoft has launched a Surface RT promotion, hinting at an impending refresh of the tablet. On Monday, Ryan Lowdermilk, a Microsoft technical evangelist, published details ...
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Adobes Earnings Beat Stokes Shares
Adobe Systems reported quarterly earnings that beat Wall Street's expectations on Tuesday on revenue that came in on target. The software maker's shares rose nearly 4 percent after the bell, following the ...
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Summer of Discontent Coming Ferguson
Discussing the mass protests in Brazil and Indonesia and the silent vigils held in Turkey after protesters clashed with police, with CNBC's Michelle Caruso-Cabrera, and Niall Ferguson, Harvard ...
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Jack Lews New Less Crazy Signature
Am I the only one who finds it disappointing that Jack Lew has decided to sign U.S. dollars with a pretty normal signature?When Lew was nominated to succeed Tim Geithner as Secretary of Treasury, attention immediately turned to his crazy signature. It looked like a series of loops rather than anything resembling letters found in our alphabet. Putting this on our currency would have added a bit ...
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United Elite Status For a Higher Price
United Airlines . Think total dollars spent.United announced Tuesday that beginning in 2014, members of the airline's MileagePlus program will be required to achieve an annual spending requirement, in addition to miles or segments flown, to enjoy the perks of Premier elite ...
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Millionaires on the Rise
A report from Capgemini and RBC shows 12 million millionaires worldwide, whose fortunes grew 10 percent to a record $46 trillion, reports CNBC's Robert Frank. Janet Engles, RBC Wealth Management, weighs ...
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Talking Numbers Is Sony a Buy
Third Point's Dan Loeb has upped his stake in Sony. Is the stock now a buy? Richard Ross, Auerbach, says the stock makes a compelling buy, and Steve Cortes, Veracruz, thinks there are problems for ...
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EasyJet plane order rekindles Airbus-Boeing subsidy row
EasyJet announced the $10 billion order for 100 A320neo medium-haul jets, together with 35 current-generation A320 aircraft worth $3 billion at list prices, on Tuesday, day two of the Paris ...
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La-Z-Boy options active ahead of earnings
- La-Z-Boy, Inc. - Shares in furniture producer, La-Z-Boy, Inc., increased as much as 3.9% to $19.80 at the start of the session, the highest level since 2004, ahead of the company's fourth-quarter earnings report after the closing bell today. Options volume is up ahead of the report, with roughly 400 contracts in play this afternoon versus average daily volume of around 80 contracts. ...
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Even if approved Keystone seen failing to relieve Canada’s oil glut
Even if U.S. President Barack Obama approves the Keystone XL pipeline, Canadian crude oil probably will remain the cheapest in the world, hampering expansion of the country's largest export industry. Canadian oil prices are forecast to fall compared with world benchmarks because production from oil sands, fields of sand coated with heavy oil beneath about 90,000 square kilometers (34,749 ...
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Walmart Canada accepted clothing shipments from banned Bangladesh factory
Since the Rana Plaza building collapse killed more than 1,100 people in April, retailers have faced mounting pressure to improve safety at Bangladesh garment factories and to sever ties with manufacturers that don’t measure up. The world’s largest retailer, Walmart, last month released a list of more than 200 factories it said it had barred from producing its merchandise because of ...
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Cenovus to triple amount of crude moved by rail by end of next year
CALGARY -- Cenovus Energy Inc. is looking to triple the amount of crude it ships by rail between the end of this year and next. The Calgary-based oil company is expecting to finish 2014 by moving 30,000 barrels by rail -- up from the 10,000 it's anticipating by the end of ...
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Expecting a rise in market volatility There’s an ETF for that
Where the global economy may or may not go, what the Federal Reserve and other central banks may or may not do, whether "Abenomics" in Japan works - all fodder these days for those who expect volatility to come back to the financial markets. And it has come back. While nowhere close to the 70, 80 and higher levels seen at the height of the 2008 market meltdown or at the peak of the ...
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Canadian oil producers plead for Northern Gateway approval
TERRACE, B.C. -- Canadian oil producers are increasingly concerned about delays to plans to expand Western Canada's crude oil pipeline capacity and pleaded with regulators Tuesday to give Northern Gateway the green ...
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Best Employers for Workers Over 50
The National Institutes of Health (NIH) tops this year's list of the best employers for Baby Boomers, according to the American Association of Retired Persons (AARP). The list, co-sponsored by the Society for Human Resource Management ...
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US STOCKS SNAPSHOT-Wall St advances for 2nd day Fed in focus
NEW YORK, June 18 | Tue Jun 18, 2013 4:05pm EDT NEW YORK, June 18 (Reuters) - U.S. stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper recent statements that were interpreted as meaning an early reduction of stimulus efforts. The Dow Jones industrial average was up 138.76 points, or 0.91 percent, at 15,318.61. The Standard & Poor's ...
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Deloitte NY settle over review of Standard Chartered money laundering
Reuters © The logo of Standard Chartered is seen at its new Singapore office tower at the Marina Bay Financial Centre, January 24, 2011. REUTERS/Kevin ...
Brazil Focus
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Brazil fighting the good fight?
Brazil’s recent victory in a trade dispute with the US, which was resolved through the WTO is a victory, not just for the biggest economy in South America, but also for developing nations around the world, showing that the mechanisms of the WTO can be used to further their interests – although it will take years of fighting and unrelenting effort…
Brazil’s ongoing dispute with the United States over the subsidizing of cotton for producers in the US, looks like it may soon be resolved, as Brazil recently indicated it would hold off on slapping a range of 102 US goods with sanctions, if the US agreed to certain measures put forth by the South American country. Read more
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