Latest Breaking Business News
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Barroro voices concern over estimated one trillion euro tax evasion
BRUSSELS - Voicing concern about tax evasion that is estimated at one trillion euros, European Commission President Jose-Manuel Barroso said Tuesday that EU leaders will meet at a one-day summit on Wednesday to negotiate solution. The European Union can't afford to let tax evasion go on the way it is. Such large amounts of money, currently sitting in tax havens, would be greatly beneficial ...
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German central bank sees signals of economic pick up in Q2
FRANKFURT - Germany's central bank Deutsche Bundesbank expects the country's economy to improve "markedly" in the second quarter relying on signals of pick up in industrial orders and likelihood of weather related downturn in construction sector no longer impacting investment sentiments a development that could boost the wider eurozone as it struggles to get out of recession. "Overall ...
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HNL cancer drug trial discontinued by Pfizer
NEW YORK - Pharma major Pfizer has discontinued the development of cancer candidate inotuzumab ozogamicin, which is part of a class of therapies called antibody-drug conjugates (ADCs), in the haematological cancer non-Hodgkin lymphoma after it failed to show benefit in overall survival during phase III trials. Pfizer has notified the study investigators and appropriate regulatory authorities ...
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Merger pact by GrubHub and Seamless to stave off rivals
WASHINGTON - GrubHub Inc. and Seamless North America LLC, two of the biggest online services for food-delivery in the U.S., have entered into a definitive agreement to combine their companies to take on rivals in the growing market for online meal orders. The merger will create a combined company well positioned to drive more orders to restaurants, deliver a better experience for hungry ...
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Mortgage lending in UK rises highest in four years
LONDON - The UK housing market seems to be picking up with gross mortgage lending up 4.3 per cent in April over previous month to 12.1 billion pounds, the highest in over four years, according to the Council of Mortgage Lenders (CML). The mortgage lending was 21% higher than April 2012, but this data is skewed by the end of the stamp duty concession on 24 March, 2012. Under the stamp duty ...
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Construction begins on new island off Jumeirah Beach in Dubai
Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...
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Microsoft launches all-in-one home entertainment system Xbox One
Microsoft has unveiled its latest video gaming console 'Xbox One' which is believed to transform games, TV and entertainment for the 21st century living room. The latest console reportedly promises a vision of the future. According to a report by the Mirror, 'Xbox One' will allow users to turn on the device with words like "Xbox On", and "snap" will allow users to watch two things at ...
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Microsoft unveils new all-in-one Xbox console
Microsoft unveiled a new Xbox console Tuesday that represents a major upgrade on the US-market-leading Xbox 360 model. The president of the IT giant's Interactive Entertainment Business, Don Mattrick, revealed the hi-tech Xbox One entertainment and gaming console during an event at Microsoft's Redmond, Washington, campus. The Xbox One was presented as an all-in-one system for gaming, watching ...
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Microsoft Unveils New Xbox One Game Console
REDMOND, WASHINGTON Microsoft Corp gave the world the first look at its new game console on Tuesday, hoping the Xbox One will attract existing video game fans while also becoming a hub for living room entertainment. The third-generation Microsoft console, coming eight years after the Xbox 360, was unveiled by games unit chief Don Mattrick at an event at the software company's campus ...
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Whats best U.S. city for engineering jobs
A study released Tuesday by the job-search engine Monster.com listed San Diego as the fourth best place in the country for engineers, based on the frequency of job ads from February to ...
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Stocks Moving Modestly Higher On Upbeat Earnings News - U.S. Commentary
Stocks have moved modestly higher in early trading on Tuesday, benefiting from a positive reaction to some upbeat earnings news. The major averages have all moved to the upside, offsetting the slim losses posted in the previous session.The major averages are currently posting modest gains, near their highs for the young session. The Dow is up 59.36 points or 0.4 percent at 15,394.64, the Nasdaq ...
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Bond Report Treasurys edge up ahead of Bernanke testimony
NEW YORK (MarketWatch) -- Treasurys traded slightly higher on Wednesday as the market waited for Federal Reserve Chairman Ben Bernanke to appear before ...
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Movers Shakers Wednesday’s movers NetApp Saks
NEW YORK (MarketWatch) -- Earnings results drove premarket action on Wednesday as NetApp Inc. rose while Staples Inc. and Lowe's Cos. ...
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Lloyds and RBS get thumbs up from watchdog on capital
Britain's taxpayer-bailed-out banks today reassured the City that they will not need to raise fresh capital despite the Bank of England recently saying that the UK banking sector had a 25 billion capital ...
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Five Ways Microsoft Can Fix Windows 8
I like Windows 8. Let's just start there. I've used Windows 8 since before the Consumer Preview version. I have Windows 8 installed on a Samsung Series 7 Slate which is docked on my desk, and I invested 30 days exploring ...
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Microsoft Answers Xbox One Questions Used Games Always On and More
debuted their new console , the Xbox One, at long last. We saw the controller, the box itself, a redesigned Kinect and some new features and games over the course of an hour. But afterward, it was what we did not see or hear about that became the story. The presentation left out answer to many of the most common questions surrounding the new console. The press and the PR reps went to war in a ...
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Eight Reasons To Buy Microsofts New Xbox One
Xbox One is powered by an eight-core processor. The processor is based on Jaguar design by AMD. The processor is customized for DirectX 11.1 graphics and contains 32 MB ESRAM memory. The system supports 8 GB of RAM, but RAM does not appear to be GDDR5 as in PlayStation 4 ...
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Duracell Breaks New Ground in Wireless Charging Market
Duracell is making a push in wireless charging, working with partners to try and do for public gadget power what Intel did for public WiFi. The idea: get popular restaurants to install special charging surfaces that will charge phones while patrons eat. Duracell, in partnership with PowerMat, already has wireless charging pilots running in New York's Madison Square Garden and at 17 ...
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Microsoft Xbox Takes on Apple Google With TV
Microsoft unveiled its long-anticipated next generation console Xbox One on Tuesday, but it was its inclusion of live TV, rather than its gaming capabilities that set tongues wagging. "I think what Microsoft is doing here is taking on not just Sony Playstation and Nintendo; it is taking ...
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The Biggest Carry Trades
The Bank of Japan's plan to double the country's money supply over the next two years has put the spotlight back on the global carry trade. Japan's lost decade served as the breeding ground for the development of "the mother of all carry trades" in the yen. These trades are seen as "no-brainers": borrow money in a currency where interest rates are low and ...
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Dont Expect Fed Taper Talk...Yet Pro
Federal Reserve is still months away from beginning the process of scaling back its $85 billion a month bond-buying program, JPMorgan Chase's chief economist told CNBC on Wednesday, ahead of Fed Chairman Ben Bernanke's economic testimony on Capitol Hill. "Bernanke is pretty much going to keep the course here and tell us the Fed is open-minded. It's feeling a little better ...
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Probe Puts Spotlight on Oil Firms Trading Desks
Europe's energy price manipulation probe has turned regulatory attention to secretive trading units at oil companies with huge turnover and millionaire staff with risk appetite higher than at Wall Street's biggest banks.Regulators have scrutinized banks, trading houses and commodities markets more closely following the Libor benchmark rigging scandal but trading desks at oil majors ...
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SAP Puts Faith in Autistic Tech Specialists
SAP will start to employ people with autism as software testers, programmers and data quality assurance specialists across the world as it teams up with Denmark's Specialisterne. The Danish company was formed in 2004 to ensure that the talents of autistic people were utilized in technology-oriented jobs, which are particularly suited to individuals with autism. Specialisterne, which already ...
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Sterling Slides on Data IMF Warns UK Over Growth
Sterling tumbled following minutes released by the Bank of England and disappointing retail sales, as the IMF warned the U.K. is at risk of "permanent damage" if its growth remains persistently slow. Sterling fell by as much as 0.5 percent as retail sales missed expectations, with total food sales plunging 4.1 percent - the largest monthly fall in almost two years. ...
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Insanely durable smartphone ... from Caterpillar
Watch out Apple and Samsung? Caterpillar launched a drop-proof, water-proof, dust-proof smartphone Monday that you actually wouldn't be embarrassed to carry around with ...
China Digest
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Chinese shipping industry is not the only one causing environmental incidents
The recent highly publicized grounding of a Chinese bulk carrier on the Great Barrier Reef in Australia attracted the scrutiny of the world on the Chinese shipping industry with some commentators saying that the accident was indicative of a dysfunctional health and safety record throughout the industry in China.
China’s shipping industry is primarily made up of the state-owned and run COSCO (China Ocean Shipping Company), and it is this company to whom the Shen Neng 1 belongs. The Shen Neng 1 is not the only COSCO ship to be involved in a notable maritime accident. Read more
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