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British banks must do better says standards report
The Parliamentary Commission on Banking Standards report - called Changing Banking for Good - runs to more than 500 pages and is the culmination of a year's work. It cost 850,000 to produce and took evidence from more than 250 witnesses. Its recommendations ...
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Honeywell takes to skies with COMAC
/enpproperty--> Honeywell Aerospace, the United States-based aviation parts maker and a major supplier to China's domestic commercial aircraft, the C919, is upbeat about the much-anticipated jet's maiden flight in 2015, a senior executive of the company said. "We are on schedule" with the Commercial Aircraft Corp of China's plan for the first flight, John ...
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Bankers Should Face Jail Terms Report Warns
A new criminal offence punishing bankers for "reckless misconduct" while running their institutions is the centrepiece of proposals unveiled by a group of MPs and peers aimed at reforming the industry. The Parliamentary Commission on Banking Standards (PCBS), which was set up after last summer's Libor-manipulation scandal led to Barclays being ...
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Microsoft says it freed millions of computers worldwide from criminal botnet
said that an assault it led earlier this month on one of the world's biggest cyber crime rings has freed at least 2 million PCs infected with a virus believed to have been used to steal more than US$500 million from bank accounts worldwide. "We definitely have liberated at least 2 million PCs globally. That is a conservative estimate," Richard Domingues Boscovich, assistant ...
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Stimulus Program Is Noise In Economy Gilder
All eyes are on the Fed as they kick off their 2-day meeting. Jon Hilsenrath, WSJ, and George Gilder, author of "Knowledge and Power," discuss what's ahead for Fed Chairman Bernanke, and the U.S. ...
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Small Business Economic Uncertainty
Many small businesses are still struggling in this economy. Sen. Bob Casey, Joint Economic Committee (D), and Sen. Susan Collins, Appropriations & Intelligence Committee (R), discuss ways in which small business can be ...
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Gilders Knowledge and Power
Texas Gov. Rick Perry will be CNBC's Larry Kudlow's guest on Wednesday night. Also, George Gilder, author of "Knowledge and Power," discusses the gap between knowledge and power, and how to solve the "paralysis of our ...
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DuckDuckGo Search Engine Surges 33
DuckDuckGo CEO Gabriel Weinberg says web traffic on his search engine, billed as an alternative to Google that doesn't store your private information, surged 33 percent after the NSA news broke. Weinberg discusses the model of his search engine, and ...
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Chrysler agrees to recall 1.56 million Jeeps
The NHTSA's concerns over older-model Jeep Grand Cherokees and Libertys has prompted a recall after investigations found a crash from behind could puncture the fuel tank, possibly causing a fire. NBC's Brian Williams ...
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Ex-Lockheed official joins board of Norwegian titanium firm
LMT.N ) incoming CEO after having an affair with a subordinate, said he has joined the board of directors of a Norwegian titanium producer that works closely with Spirit AeroSystems Inc ...
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United Dreamliner lands safely after possible oil filter problem
SEATTLE (Reuters) - United Airlines said on Tuesday that a Boeing Co 787 on its way to Tokyo from Denver was diverted to Seattle after an indication of a problem with an oil filter, but said the plane landed without ...
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Tinkler gives up half of Whitehaven stake to lender
The U.S. fund, Farallon Capital Management picked up a 9.9 percent stake from Tinkler and entities associated with him, taking its holding in Whitehaven to 16.6 percent, it said in a shareholding notice to the Australian stock ...
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Vodafone raises Kabel Deutschland offer after rival bid report
The logo of Germany's biggest cable operator, Kabel Deutschland, is written on a door bell at the Kabel Deutschland playout center in Frankfurt February 25, ...
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Quake studies cut short by nuke shutdown
The operator of the San Onofre Nuclear Generating Station is likely to scale back a robust slate of earthquake studies as it moves forward with retiring the coastal power ...
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We were not leaned on over branch sale says Lloyds
The bosses of Lloyds Banking Group have denied that they were told by politicians to favour the sale of more than 600 branches to the Co-op over rival ...
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Banking reform after the crash
Today's parliamentary report on the flaws and failure of banking and banking regulation is nearly 600 pages long and the product of months of work, but it needs to be read in the light of one big fact. At the height of the banking crisis, every man, woman and child in Britain stuck 19,271 each behind the banking sector. According ...
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Andrew Tyrie carves out role as inquisitor-in-chief of financial crisis
Andrew Tyrie, a former adviser to Conservative chancellors Nigel Lawson and John Major, joined parliament in 1997. Photograph: Kirsty ...
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Pay cuts imposed on top civil servants could lead to exodus of talent – auditor
pay and conditions of senior civil servants have deterred private sector managers from taking up Whitehall jobs and could result in an exodus of talent, the government's independent auditor has warned.A report by the National Audit Office concludes that there are "clear capability gaps" in the ...
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Jail threat for reckless bankers among proposals to clean up banking system
George Osborne is facing pressure to radically overhaul Britain's banks by introducing a new law to jail bankers for "reckless misconduct" and force bankers to wait up to 10 years to receive their bonuses.The proposals, among the key measures recommended in a major report by the parliamentary commission on banking standards, also include a call on him to consider breaking up the ...
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Jo Swinson proposes streamlined appeals system for businesses
regulators from introducing consumer-friendly measures will be curbed under proposals published by the government on Wednesday.The Business minister, Jo Swinson, is proposing a streamlined appeals system for challenging decisions by the UK's economic regulators, which ...
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Food packaging traffic lights to signal healthy choices on salt fat and sugar
Research found consumers ignored food labels when more than one system was used, such as traffic lights and guideline daily amounts. Photo: Press ...
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Microsoft Dynamics ERP software now available on the Azure cloud
IDG News Service - Microsoft is upping the stakes in the growing market for cloud-based ERP, with its Dynamics GP 2013 and NAV 2013 products now available for deployment on its Azure service. The launch, announced Tuesday, gives customers another option for cloud-based ERP (enterprise resource planning) services besides NetSuite, SAP Business ByDesign and others. It's a bit late in coming, ...
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Fed May Not Be Able to Tame Volatile Trading
"That's how I see it. Tomorrow is dangerous," said Art Cashin, director of NYSE floor operations at UBS. Financial markets always watch the Fed, and they always hang on every word of Fed policy. But the Fed's ...
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Thomas Jackson Judge who tried to split up Microsoft
Thomas Penfield Jackson, who died of cancer on 16 June at the age of 76, was a federal judge in Washington who presided over a Microsoft antitrust case and ordered the software giant to be split up. He also presided over the the drug possession trial of the former Mayor of Washington, Marion ...
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REFILE-PM Abe says G8 welcomed Japans economic policies
BELFAST, June 18 (Reuters) - Japanese Prime Minister Shinzo Abe said on Tuesday G8 leaders expressed strong support for his "Abenomics" economic policies and he has heard no concerns about Japan's radical monetary ...
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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