Latest Breaking Business News
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Canada threatens to retaliate against change in US meat labeling rules
OTTAWA - Canada has threatened "retaliatory measures" against the United States move changing the so-called country of origin labeling that would track beef and hogs through the meat processing and distribution systems, stating that it is discriminatory, a view shared by the World Trade Organisation. On Thursday, the United States Department of Agriculture issued a final modification to its ...
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After breaches Twitter beefs up security with two-step login
NEW YORK - Aiming to tackle recent high-profile breaches, popular micro-blogging site Twitter is introducing an optional two-step login for users to beef up security. The new system would try to ensure "it's really you" when a user signs in to Twitter, which transmits some 400 million messages a day. The move follows recent attacks into the twitter accounts of news organisations' such as ...
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Irish biotech firm Elan rejects revised Royalty Pharma bid
DUBLIN/ WASHINGTON Ireland-based biotechnology firm Elan Thursday rejected Royalty Pharma's increased $6.4 billion takeover bid, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one share. Royalty raised its hostile cash bid to $12.50 per share on Monday, from $11.25 previously, but made the new offer conditional on Elan shareholders rejecting, at a ...
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Import alert by USFDA hits Wockhardt shares
MUMBAI - Shares of Wockhardt, one of the leading Indian pharmaceutical and biotechnology companies, witnessed a sharp fall of 20% to Rs. 1,315 ($23.61) on the Bombay Stock Exchange(BSE) on Thursday after the US FDA published an import alert on one of its three manufacturing facilities near Aurangabad. The import alert, 'detention without physical examination of drugs from firms which have ...
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Ford Motor to shutdown 2 units in Australia
MELBOURNE - Ford Motor Company Wednesday announced plans of closing its local manufacturing operations in Broadmeadows and Geelong in October 2016 thereby forcing 1,200 people out of work. Spelling the end of the iconic Ford Falcon in the country, Ford Australia president Bob Graziano announced that the carmaker would shut its Victorian facilities in October 2016, bringing an end to nearly ...
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IMF warns UK against continuing austerity programme
LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...
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Chidambaram says U.S. Federal Reserves statement misunderstood calls for calm
Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves. Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor ...
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Kenya UNHCR Microsoft and HP to Boost Refugee Education in Dadaab
The UN Refugee Agency in partnership with Microsoft and HP, and with the support of the Innovation and Education units, has officially launched the Community Technology Access (CTA) project in Dadaab, a comprehensive initiative to harness the potential of ICT for the improvement of teaching and learning in the world's largest refugee settlement at the Kenya-Somalia border. Ensuring quality ...
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Asia stock markets edge up after big sell-off
Asian stock markets staged a mild recovery Friday, a day after being routed by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary ...
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Microsoft brushes off claim Xbox Live accounts were compromised
IDG News Service - Microsoft brushed off a dubious hacker's claim on Thursday that he stole 47 million account credentials for Microsoft's Xbox Live gaming service. The hacker, who goes by the Twitter handle ...
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US ITC refuses to ban Microsofts Xbox at Googles request
The U.S. International Trade Commission has turned down a request for a ban on Microsoft's Xbox after finding that the gaming device did not infringe a patent owned by Google's Motorola Mobility unit.The ITC's ruling Thursday has essentially confirmed an initial ruling by administrative law judge David P. Shaw in March that the Xbox did not infringe a Motorola patent relating to ...
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Microsoft did not violate Google patent ITC
Xbox is related to the larger smartphone patent war between Apple, Microsoft and the mobile phone makers who use Google's Android software, including its subsidiary Motorola ...
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Japan Bulls Unwavered by Stock Market Rout
A day after Japanese equities witnessed their sharpest one-day drop in more than two years, investor optimism over the outlook for the country's stock market remains unshaken. "The market was very right for a correction. [But] longer term there is a lot of potential in Japan. Obviously markets don't move in a straight line," David Dietze, president and chief investment ...
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Market Wrap for Thursday May 23 Wall Street Shrugs Off Global Slump
Thursday's trading session may have been the most glaring example of just how powerful the bull market in U.S. stocks is right now. Even though all of the major averages closed slightly lower on the day, the U.S. market was able to shrug off a global rout in stock prices that began with a 7.3 percent crash in the Nikkei. The catalyst for the sell-off in Japan centered on concerns ...
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Worry not Less help from Fed would be good economic news
As the Federal Reserve slows its drive to keep interest rates low, it should be cause for celebration: It would mean policymakers think the economy is strong enough to accelerate with less help from the ...
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Japan Nikkei Plunge Wont Derail Abenomics
The biggest plunge in Japanese stock prices since a 2011 earthquake and tsunami was a temporary pullback that will not derail the government's "Abenomics" policy of loose money and fiscal stimulus, officials said on Thursday. "It's a temporary adjustment after the rapid gains seen recently," Yasutoshi Nishimura, senior vice-minister of the Cabinet Office, told ...
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Procter Gamble brings back former CEO to fix company
PG.N ) on Thursday brought back A.G. Lafley to run the world's largest household products maker, replacing Bob McDonald immediately in the midst of a major ...
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Google like Facebook in talks to buy Waze for about $1 billion report
(Reuters) - Google Inc is considering buying Israeli mobile satellite navigation start-up Waze Inc, which may lead to a bidding war with Facebook Inc, Bloomberg news reported, citing people familiar with the ...
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Wall St. bucks global slump
Nikkei plunged 7.3% on Thursday. Investor jitters then spilled over into Europe, where major stock indexes dived 2%. Wall Street opened deep into the red, with major indexes initially falling about 1%. The Dow Jones industrial average sunk more than 100 points shortly after the opening bell on the New York Stock Exchange. But as trading continued, investors flocked back, paring the day's ...
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Rio Tinto Begins Cutting Jobs at Utah Copper Mine After Slide
Rio Tinto PLC (RIO.LN) has cut about 100 jobs at its copper operation in Utah and warned further positions will be cut later this month as it moves to reduce operating costs after a large part of the pit wall collapsed at its Bingham Canyon mine last month.The London-based company's Kennecott Utah Copper unit in a statement Thursday said it continues to take steps to reduce the impact on ...
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ASIA MARKETS Japan Stocks Recover Modestly After Steep Sell-off
HONG KONG – Japanese stocks jumped Friday to stage a modest recovery, with relief buying emerging after the extreme losses they suffered the previous day, amid expectations that the rally that began late last year may have further to go.The Nikkei Stock Average climbed 3% after diving 7.3% in the previous session, while the broader Topix advanced 2.6% after Thursday's 6.9% ...
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RPT-Hong Kong shares to open flat Lenovo jumps after earnings
Thu May 23, 2013 9:28pm EDT HONG KONG May 24 (Reuters) - Hong Kong shares are set to open flat on Friday, with PC maker Lenovo Group Ltd up 4 percent to be the top percentage gainer among Hang Seng Index components, extending gains after it reported a forecast-beating quarterly profit. The Hang Seng Index was set to open flat at 22,679.36. The China Enterprises Index of the top Chinese listings ...
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Hamlin takes Coca-Cola 600 pole with record lap
Danica Patrick looks on as crew members work on her car during practice for Sunday's NASCAR Sprint Cup series Coca-Cola 600 auto race at Charlotte Motor Speedway in Concord, N.C., Thursday, May 23, ...
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Hewlett-Packard profit down 32
Hewlett-Packard Co raised its 2013 earnings outlook after quarterly results beat low expectations , as CEO Meg Whitman's turnaround plan helped offset shrinking personal computer sales with enterprise computing services. While fiscal second-quarter profit plummeted 32 percent ...
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In risky new tack Microsoft stacks Surface against iPad
(Credit: Microsoft) Microsoft's "iPad vs. Windows" campaign now includes iPad vs. Surface RT. Is Microsoft picking the right fight? On the back ...
New Orleans Focus
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New Orleans under threat from misconceptions
Looking toward the end of the year and 2011, there are two major challenges facing the city of New Orleans, the misconception created by the oil spill and the massive budget deficit that needs to be filled at a time when the city is still recovering from the devastation of Katrina in 2005.
New Orleans is a city famous for many things, as the setting of A Streetcar Named Desire, as the host city of the famous Mardi Gras, which is one of the most visited events in America, as a major hub for jazz and blues musicians and as the most celebrated city of the American South. Read more
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