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Dalian Wand Group to enhance UK presence with luxury hotel and yacht unit

Wed, 19 Jun 2013 17:45:23 -0400

LONDON - China's largest premier commercial property and entertainment conglomerate, Dalian Wanda Group Wednesday entered into 320million pounds definite acquisition deal with leading British yacht company, Sunseeker International Ltd, under which Wanda will acquire a majority shareholding of 91.81% in pre-eminent luxury motor yacht manufacturer. Under the agreement, the remaining 8.19% stake ...

EU antitrust regulator fines Lundbeck and several generic drug firms

Wed, 19 Jun 2013 17:13:25 -0400

BRUSSELS - European Union in its first case over pay-for-delay deals that held back sales of cheaper generic drugs Wednesday fined Danish pharmaceutical company Lundbeck 93.8 million euros and imposed fines totaling 52.2 million euros on several other producers of generic medicines. The European Commission, the EU's antitrust regulator, said the companies had reached agreements that may have ...

Chrysler to recall 2.7 mn Jeeps but says vehicles not defective

Wed, 19 Jun 2013 17:20:18 -0400

NEW YORK - Chrysler avoided a showdown with the US government by agreeing to recall 2.7 million Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions. Chrysler said it recognised the matter had raised concerns for customers The US company said it had resolved its differences with the National Highway Traffic Safety Administration (NHTSA). The recall affects ...

Four US mortgage servicers faulted for lapses by settlement monitor

Wed, 19 Jun 2013 17:19:27 -0400

WASHINGTON - Four of the largest U.S. mortgage servicers, including Citigroup Inc (C). and Bank of America Corp., have failed to adequately upgrade their treatment of customers in danger of foreclosure, according to a court-appointed monitor. Bank of America, Citigroup, JPMorgan Chase and Wells Fargo have failed to adhere to some of the new standards set out in a landmark settlement meant to ...

Spain making progress but requires urgent action to generate growth says IMF

Wed, 19 Jun 2013 17:10:52 -0400

MADRID - Spain risks high joblessness and sluggish growth for years unless its government together with Europe takes "urgent action' to generate growth and jobs, the International Monetary Fund stated Wednesday. "While there are signs the economic contraction may end soon, the outlook remains difficult," IMF said in its annual assessment of the Spanish economy. "But unemployment remains ...

Yahoo follows Facebook and Microsoft in publishing US govt sought snoop data

Wed, 19 Jun 2013 02:40:03 -0400

Internet corporation Yahoo has followed the league of technological companies in publishing reports about 'snoop data' requests made by the US government. According to the Guardian, Yahoo has revealed that it had received 12,000-13,000 requests, inclusive of criminal, Foreign Intelligence Surveillance Act (FISA), and other requests by the government between 1 December 2012 and 31 May 2013. ...

Voices from Brazils protests

Wed, 19 Jun 2013 22:34:28 -0400

Some comments by Brazilians participating in protests across South America's biggest country: ___ "I'm here because I depend on public transportation which is terrible. Public transportation should not be for profit. I'm here to say we need better buses and better service." -- Maira Zenon, graphic designer, 27, attending protest in Brasilia. ___ "We're out ...

NY Kodak commits to keeping some operations in Rochester providing $49M for cleanup

Wed, 19 Jun 2013 22:34:24 -0400

ROCHESTER, N.Y. -- New York state and Eastman Kodak Co. have reached a deal that will keep some of the troubled company's operations in Rochester and provide $49 million for environmental cleanup at the once bustling Eastman Business Park. Local media outlets report Wednesday that Kodak will keep advanced manufacturing and its research center at the 1,200-acre site and lease property there ...

Federal Reserve policymaking group has power over economy through control of interest rates

Wed, 19 Jun 2013 22:34:22 -0400

The Federal Reserve's chief policymaking group, the Federal Open Market Committee, has vast power over the economy through its ability to set monetary policy. Here is a look at how the FOMC operates. Q: What is the FOMC's primary role? A: Its mission is to keep the economy, inflation and employment on a healthy track. When the economy weakens, Fed policymakers cut interest rates or ...

Digital River to help Adobe sell subscription software

Wed, 19 Jun 2013 22:34:21 -0400

E-commerce firm Digital River Inc. has expanded its sales relationship with Adobe Systems to include marketing subscriptions to Adobe’s cloud-based desktop PC software in 19 areas ...

Business briefs Dish drops offer for Sprint turns to Clearwire

Wed, 19 Jun 2013 22:34:20 -0400

Dish Network said it was "impracticable" to make a new offer for Sprint Nextel by the mobile-phone carrier's deadline, leaving Softbank as the main contender to acquire the wireless company. Sprint's actions "have made it impracticable for Dish to submit a revised offer by the June 18th deadline," Englewood, Colo.-based Dish said in a statement. "We will ...

Alzheimers compound repairs damaged neurons

Wed, 19 Jun 2013 22:33:48 -0400

Brain cells harmed by Alzheimer's disease can be repaired by a newly invented compound, according to a study led by Sanford-Burnham Medical Research Institute scientists. The compound, called NitroMemantine, is ready for human clinical trials, said Stuart A. Lipton, the Sanford-Burnham scientist who headed the ...

Japanese Market Tumbles On Wall Street Lead

Wed, 19 Jun 2013 22:32:57 -0400

Stocks tumbled in early trades in the Japanese market on Thursday, with investors indulging in some heavy selling following Wall Street's weak close overnight on the back of a negative reaction to the Fed's statement about an end to its asset purchase program by mid-2014.However, with some front line stocks bouncing back on strong support at lower levels, the market regained some lost ...

US stocks trade nearly flat before FOMC announcement

Wed, 19 Jun 2013 22:26:17 -0400

US stocks traded nearly flat in midday Wednesday after a wobbly morning session, as investors stayed on the sidelines before the release of the Federal Open Markets Committee's (FOMC) policy meeting announcement this afternoon.With no major US data due on Wednesday, all eyes are on the announcement and what Fed Chairman Ben Bernanke would say in his press conference for any hint of a ...

Microsoft retreats on rules for

Wed, 19 Jun 2013 22:23:41 -0400

The Xbox One will not require a regular Internet connection. Gamers will continue to be able to use, trade, sell or loan their games just as they have been on earlier versions. Those announcements, made Wednesday, represent a reversal for Microsoft on two key decisions about its upcoming Xbox One console that had infuriated many gamers. "Since unveiling our plans for Xbox One, my team and ...

China June Flash HSBC PMI Falls to 9-Month Low

Wed, 19 Jun 2013 22:23:35 -0400

Activity in China's vast factory sector decelerated further in June, a private survey of Chinese manufacturers showed on Thursday. The closely-watched flash estimate of the HSBC China purchasing manager's index (PMI) fell to a nine-month low of 48.3, worse than ...

Xbox One take two -- Microsoft kills the hated DRM

Wed, 19 Jun 2013 22:22:23 -0400

demoed the Windows 8.1 interface, which included the return of the iconic start button. The lack of that button was a pain-point for some users and Microsoft responded by bringing it back. However, this did not signal defeat for the company's Modern UI -- it signaled that the company was listening to users. Yesterday, Microsoft continued this trend as ...

Ex-Citigroup exec Froman becomes US trade rep

Wed, 19 Jun 2013 22:12:47 -0400

(14 mins ago) The US Senate confirmed White House adviser Michael Froman as the new US trade representative, just as Washington launches free trade talks with the European Union. Froman is a former managing director at Citigroup, which received a US$45 billion government rescue package in 2008 during the financial crisis, and his tenure at the too-big-to-fail bank has raised eyebrows. Some key ...

Rockets Lazada gets $100 million in bid to be Southeast Asias Amazon

Wed, 19 Jun 2013 22:10:57 -0400

(Reuters) - Lazada, the Southeast Asian online retail company founded by Germany's Rocket Internet Gmbh, has secured another $100 million from investors in its bid to lift the region from its status as an e-commerce ...

Sony to consider Third Points proposal Sony CEO Hirai

Wed, 19 Jun 2013 22:10:57 -0400

Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to ...

Euro ministers to decide direct bank recapitalization rules on Thursday

Wed, 19 Jun 2013 22:10:56 -0400

BRUSSELS (Reuters) - Euro zone finance ministers will decide on Thursday when and how their bailout fund can invest in a bank to save it from failure, laying a cornerstone of the banking union seen as vital to restore economic ...

Report Medtronics DF4 defibrillator wire fractured

Wed, 19 Jun 2013 21:28:48 -0400

Medtronic Inc. DF4 defibrillator wire used to connect the lifesaving device to the heart inexplicably fractured after 18 months in a 52-year-old man, raising questions about how quickly doctors should embrace new technology, researchers ...

More industries becoming data-driven

Wed, 19 Jun 2013 21:28:46 -0400

The story is the same in one field after another, in science, politics, crime prevention, public health, sports and industries as varied as energy and advertising. All are being transformed by data-driven discovery and decisionmaking. The pioneering consumer Internet companies, like Google, Facebook and Amazon, were just the start, experts say. Today, data tools and techniques are used for tasks ...

Pinnacle Airlines changing name to Endeavor Air

Wed, 19 Jun 2013 21:28:43 -0400

"We're going through the steps necessary to prepare for the change on official government and regulatory documents, thus the Aug. 1 date," said Pinnacle spokesman Joe Williams in an interview ...

Senate confirms White House aide Froman to be next trade representative

Wed, 19 Jun 2013 21:28:42 -0400

WASHINGTON -- Senior White House economic adviser Michael Froman has been confirmed by the Senate to be the next U.S. trade representative. The law school classmate of President Barack Obama takes over the post as the administration seeks to advance major trade deals with Pacific Rim and European nations. The Senate vote was 93-4 to confirm Froman to succeed Ron Kirk, the former Dallas mayor ...

GLOBAL MARKETS-Asian stocks fall on Fed policy plan China data looms

Wed, 19 Jun 2013 21:28:25 -0400

Wed Jun 19, 2013 9:28pm EDT * MSCI Asia ex-Japan slips 1.7 pct, Nikkei down 0.6 pct * U.S. Treasury yields hit 15-mth high, underpin dollar * China "flash" PMI due at 0145 GMT By Chikako Mogi TOKYO, June 20 (Reuters) - Asian shares deepened losses on Thursday after U.S. Federal Reserve Chairman Ben Bernanke confirmed market fears that the Fed would begin reducing its stimulus later this ...

Bridgepoint Education seeks to cut staff

Wed, 19 Jun 2013 21:28:12 -0400

San Diego's Bridgepoint Education launched a voluntary buyout program last week to cut staff on the eve of a critical accreditation decision for company-owned Ashford ...

Illumina ordered to pay $115 million in patent case

Wed, 19 Jun 2013 21:28:12 -0400

SAN DIEGO -; DNA sequencing giant Illumina has been ordered by a federal court to pay Auburn, Wash.-based Syntrix Biosystems $115.1 million in a patent infringement ...

Want to entice hotel guests Try birds paragliding

Wed, 19 Jun 2013 21:28:11 -0400

Well aware that travelers have an almost limitless choice for where they'll lay their heads down at night, hotels and resorts in San Diego County are stepping up their game to entice visitors to choose them for an overnight ...

Tell Sid Public will be offered shares in Lloyds Bank

Wed, 19 Jun 2013 21:09:23 -0400

The prospect of an eventual "tell Sid"-style sale of shares in Lloyds Bank was raised by George Osborne as he claimed Britain's economy had emerged from "intensive ...

Microsofts Xbox DRM reversal not the first 12 tech mulligans

Wed, 19 Jun 2013 21:09:16 -0400

changed its controversial stance on always-on connectivity and game DRM on Wednesday, a reversal that comes after more than a week of harsh criticism from consumers, press and especially competitors. The move comes just a few months before the console is set to hit store shelves, and is widely-viewed as reactionary. Rival Sony, which priced and further detailed ...

Microsoft has no plans to revisit Xbox Ones $499 price

Wed, 19 Jun 2013 21:09:07 -0400

Even as the company backtracks on its unpopular game-sharing policy, a company executive tells CNET that it won't budge on the price for the console, some $100 more than the rival PlayStation ...

John McAfee resurfaces as ranting video star mocks McAfee software

Wed, 19 Jun 2013 21:06:16 -0400

John Mcafee, anti-virus software guru, arrives for a news conference outside of the Supreme Court of Justice in Guatemala City, December 4, ...

George Osborne readies City for Lloyds sell-off

Wed, 19 Jun 2013 21:03:34 -0400

Royal Bank of Scotland , in a move that could delay the bailed-out bank's return to the private sector.In his annual speech to City grandees at Mansion House on Wednesday night, the chancellor said he was "actively considering options for share sales in Lloyds", in which the government has a 39% stake. Speculation is mounting that a partial sell-off of the state's Lloyds stake ...

Nation’s biggest mortgage lenders failing terms of settlement

Wed, 19 Jun 2013 20:23:33 -0400

The nation’s five biggest mortgage lenders have largely satisfied their financial obligations under last year’s $25 billion settlement over mortgage abuses, helping hundreds of thousands of families keep their homes. But four of the five have yet to meet their commitment to end the maze of frustrations that borrowers must navigate to modify their loans, according to a report Wednesday ...

Kentucky leaders Urban Outfitters wont sell shot glasses flasks that look like pill bottles

Wed, 19 Jun 2013 20:23:32 -0400

FRANKFORT, Ky. -- Retailer Urban Outfitters Inc. has responded to a multi-state campaign and stopped selling flasks, shot glasses and pint glasses that look like prescription pill bottles, political leaders in drug-plagued Kentucky said Wednesday. The state's top leaders, including Gov. Steve Beshear and Republican U.S. Rep. Hal Rogers, chairman of the powerful House Appropriations ...

Kim Thompson co-publisher of Fantagraphics Books dies

Wed, 19 Jun 2013 20:23:31 -0400

SEATTLE -- Kim Thompson, co-publisher of influential Seattle-based publisher Fantagraphics Books -- known for celebrated alternative comics, graphic novels and comic strip anthologies -- has died. Fantagraphics announced Thompson's death Wednesday, four months after he was diagnosed with lung cancer. He was 56. Fantagraphics Books has been publishing alternative comics and graphic novels ...

MediciNova gains 31 percent

Wed, 19 Jun 2013 20:22:59 -0400

I wrote about MediciNova yesterday . Today the market reacted to the news of positive preliminary clinical data for its drug ibudilast, being tested for methamphetamine addiction. Shares of MediciNova surged 31 percent Wednesday, closing at $3.37, up 80 cents for the ...

Diddy is downright Revolt-ing on TWC

Wed, 19 Jun 2013 20:20:15 -0400

Revolt already has an agreement to launch in around 10 million Comcast homes, as part of a deal Comcast struck with regulators to offer more minority-focused channels. Still, Revolt’s new distribution deal with TWC is a boost to its efforts to get advertisers on board with the music-themed channel. Combs, who has a clothing line and vodka brand, hyped Revolt yesterday at the Cannes Lions ...

North-south negative equity divide widening

Wed, 19 Jun 2013 20:15:32 -0400

Ratings agency S&P says that 13.5% of mortgage borrowers in north-west England are in negative equity, against 0.9% in London and the ...

Facebook May Cash In on Vine-Like Vids

Wed, 19 Jun 2013 20:13:00 -0400

Facebook's Instagram May Be Getting Videos Soon ) The social network is hosting a press event at its headquarters Thursday. While Facebook hasn't confirmed what product it will be previewing, it's widely thought that the company will announce a video function for its photo-sharing app Instagram .The video addition is suspected to be similar to Twitter's Vine, a video-sharing ...

After the Fed—Whats the Markets Next Move

Wed, 19 Jun 2013 20:13:00 -0400

stocks spiraling downward, as the markets adjusted to the idea of a higher rate environment. The 10-year yield reached 2.35 percent, its highest level since March, 2012. The Dow fell 206 points to 15,112 and the S&P 500 was off 22 to ...

Fed economic statement drives fall on Wall Street

Wed, 19 Jun 2013 20:10:57 -0400

Australia Comments by the chairman of the US Federal Reserve have driven a sharp fall on Wall Street overnight.After the Fed issued its eagerly awaited policy statement, giving an upbeat assessment of the US economy and the labour market, Ben Bernanke said during a press conference that the central bank's stimulus measures may be scaled back later this year.He said the bond-buying program, ...

Microsoft backtracks on Xbox One online games policies

Wed, 19 Jun 2013 20:08:23 -0400

Microsoft is pressing reset on policies related to its Xbox One video game console.The company announced it is dropping two major features of its next-generation console: regular online authenticity checks required to play video games offline and restrictions on what players can do with games after ...

Microsoft reverses course on Xbox One restrictions

Wed, 19 Jun 2013 20:07:05 -0400

The original plan was to have the Xbox One console check in with its central servers at least once a day (and more frequently if users were accessing their account from a different system). If the console were not able to do so, users would not be able to continue using the Xbox ...

Microsoft Xbox One policy switch makes user forums explode

Wed, 19 Jun 2013 20:03:45 -0400

After the tech giant announces that it's backtracking on its much-derided Internet connection requirement, social media, comment threads, and gaming forums light ...

Ex-Kleiner partner wants day in court in discrimination lawsuit

Wed, 19 Jun 2013 20:01:01 -0400

SAN FRANCISCO (Reuters) - A high profile sex discrimination lawsuit in Silicon Valley should be taken private via arbitration, lawyers for venture capital firm Kleiner Perkins Caufield & Byers argued on Wednesday, but the plaintiff, former partner Ellen Pao, wants the chance to tell her story before a ...

Sony spin-off plan off agenda but looms over shareholder meet

Wed, 19 Jun 2013 20:01:01 -0400

BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new ...

Analysis Sprint should raise Clearwire bid to avoid Dish tension

Wed, 19 Jun 2013 20:01:00 -0400

NEW YORK (Reuters) - Sprint Nextel Corp should consider raising its offer price for Clearwire Corp or risk being saddled with a contentious relationship with Dish Network Corp, controlled by feisty billionaire Charlie ...

New bookkeeping rule to priprizese open insurers black box accounts

Wed, 19 Jun 2013 20:01:00 -0400

LONDON (Reuters) - An international bookkeeping regime being unveiled on Thursday will iron out national variants in insurers' "black box" balance sheets although the transition will take several years and the United States will keep its own, very different ...

Report Microsoft and Nokia talked acquisition but no dice

Wed, 19 Jun 2013 20:00:31 -0400

Microsoft and cellphone maker Nokia were in advanced talks about an acquisition of the Finnish company's device business, but the discussions have broken down, according to a report in The Wall Street Journal. Such a deal might have improved both companies' ability to compete in a world dominated by smartphones offered by Apple, which makes both hardware and software, and by Google, ...

Kodak will keep some ops in Rochester

Wed, 19 Jun 2013 20:00:12 -0400

NEW York state and Eastman Kodak Co have reached a deal that will keep some of the troubled company's operations in Rochester and provide $US49 million ($A53.07 million) for environmental cleanup at the once bustling Eastman Business ...

Video Federal Reserve raises its predictions for growth and jobs

Wed, 19 Jun 2013 19:56:03 -0400

Ben Bernanke said the economy is doing well enough that the Federal Reserve is likely to ease back on a bond-buying program that has kept interest rates at record-low rates. The prospect of higher interest rates sent the Dow down more than 200 points. Anthony Mason ...

Xbox One Eighty Microsoft fails to sell the future retreats to the past

Wed, 19 Jun 2013 19:55:09 -0400

Some day, far down the road, we'll be sitting with our grandchildren at our feet, rocking in our holochair, watching the virtual sun set in our Googlezon immersi-room, and we'll get all nostalgic. We'll look back on the period of May to June 2013 fondly, remembering all those memes we posted and those angry diatribes we wrote. We'll look down fondly at those tiny children, ...

Photos 7 of the Biggest Celebrity Pets Around

Wed, 19 Jun 2013 19:54:59 -0400

These furry pets have the world in their paws. From movie deals to brand sponsorships and book deals, these animals are taking center stage and represent a new world of pet ...

US stocks tumble on Fed announcement

Wed, 19 Jun 2013 19:22:21 -0400

US stocks have fallen sharply after Federal Reserve chairman Ben Bernanke said the Fed may begin to taper bond purchases later this year. The Dow Jones Industrial Average sank 206.04 (1.35 per cent) to ...

Microsoft mulled buying Nokia unit

Wed, 19 Jun 2013 19:20:49 -0400

SAN FRANCISCO (AFP) - Microsoft was in talks to boost its position in the mobile phone market by buying the devices business from Nokia but failed to seal a deal, the Wall Street Journal reported Wednesday.The Journal cited unnamed sources as saying the US technology titan and the pioneering Finnish mobile phone company were involved in serious talks that recently faltered.Microsoft has been ...

Stocks slide and Treasury yields spike after Bernanke says Fed could slow its bond purchases

Wed, 19 Jun 2013 19:18:58 -0400

NEW YORK -- Financial markets shuddered Wednesday after the Federal Reserve said it could start scaling back its huge economic stimulus program later this year and end it by the middle of 2014. The reaction by investors -- the Dow Jones industrial average fell more than 200 points and the yield on the 10-year Treasury note rose to its highest in 15 months -- showed just how much investors have ...

Obama to tap executive powers to curb emissions blamed for global warming

Wed, 19 Jun 2013 19:18:57 -0400

WASHINGTON -- President Barack Obama is planning a major push using executive powers to tackle the pollution blamed for global warming in an effort to make good on promises he made at the start of his second term. Obama's energy and climate adviser, Heather Zichal, said Wednesday the plan would boost energy efficiency of appliances and buildings, expand renewable energy and use the ...

Merging OfficeMax Office Depot want Ill. and Fla. to vie for combined HQ though tax breaks

Wed, 19 Jun 2013 19:18:56 -0400

CHAMPAIGN, Ill. -- OfficeMax Inc. and Office Depot Inc. want Illinois and Florida to compete to be the home of their combined headquarters if their proposed merger is approved by offering the best package of tax breaks that they can. Naperville-based OfficeMax made its pitch to Illinois lawmakers Tuesday when executives testified before a state Senate Executive Committee hearing in Springfield. ...

Porsche GMC top annual survey of vehicle quality but results dragged down by tech features

Wed, 19 Jun 2013 19:18:54 -0400

DETROIT -- Car buyers increasingly want high-tech features like voice recognition and navigation. But they're not very forgiving of the car company when those systems fail. The top complaints in J.D. Power's closely-watched survey of new vehicle owners, released Wednesday, involved technologies that drivers are clamoring for. Voice recognition systems either didn't recognize ...

Woody Harrelson behind company making environmentally friendly paper that saves virgin trees

Wed, 19 Jun 2013 19:18:52 -0400

LOS ANGELES -- Woody Harrelson is putting his paper where his passions are. The 51-year-old actor is the co-founder of Prairie Pulp & Paper Inc., which launched its brand of environmentally friendly paper Wednesday. The company spent 15 years researching and developing its Step Forward Paper. It's made of wheat-straw waste and wood fiber rather than virgin trees. The company says ...

Microsoft Responds To Fan Outcry Changes Xbox One Policies

Wed, 19 Jun 2013 19:15:34 -0400

Don Mattrick, president of Interactive Entertainment Business at Microsoft, greets the crowd at the Xbox One reveal event in Redmond, Wash., last ...

Microsoft Says XBox is no Big Brother

Wed, 19 Jun 2013 19:12:51 -0400

Microsoft manager Marc Whitten doesn't think a lot of the recent criticisms from data security advocates about Microsoft's new XBox One gaming console are fair. "The player controls the system, not the other way around," says the man who has become known as the Father of the XBox One, speaking to dpa on the sidelines of the E3 gaming convention in Los Angeles. Critics ...

Long-term transport plan urgently needed say engineers

Wed, 19 Jun 2013 19:11:10 -0400

Engineers have warned that a lack of strategy, patchy maintenance and uncertain funding is undermining Britain's infrastructure, and have called for an independent commission to create a long-term transport plan.The Institution of Civil Engineers (ICE) said that the short-term political cycle and spending decisions were leaving necessary work undone and delaying big projects.ICE said urgent, ...

Mervyn King goodbye to the governor | Editorial

Wed, 19 Jun 2013 19:11:09 -0400

Bank of England governor steps down at the end of this month. Unsurprisingly, Sir Mervyn's recent interventions have had a allowable tinge of sepia. Yesterday's address was no different. "A game of two halves," ran a trademark sporting metaphor. "Full of incident, with a red card or two and a passionate and at times justifiably angry crowd."A better summary might be ...

Oddworld Inhabitants Founder Lorne Lanning Believes Microsoft Will Right Xbox One Ship

Wed, 19 Jun 2013 19:10:39 -0400

Lorne Lanning, founder of Oddworld Inhabitants, launched Oddworld: Abe's Oddysee on Sony PlayStation in 1997. After developing a sequel for Sony and publisher GT Interactive, Oddworld: Abe's Exodus in 1998, the independent developer opted for Microsoft's Xbox platform with Oddworld: Munch's Oddysee in 2001. Lanning found himself back in Sony's camp, on the stage during E3 ...

Wall Streets Taper Dance

Wed, 19 Jun 2013 19:08:40 -0400

Taper, taper, taper! You know you're doing it. It's the newest dance craze among the Fed-obsessed on Wall Street who hang on to every single word uttered by the Chairman. Gyrating wildly not knowing if the central bank would relax its quantitative easing or not, traders have been doing the taper twist and turn for what feels like weeks.Wednesday - finally - The ...

Taco Bell Tries New Protein-Packed Menu

Wed, 19 Jun 2013 19:08:40 -0400

Taco Bell plans to test a "Power Protein" menu that it's hoping will eventually be hit with its core audience --young men. The chain says it will start testing the menu July 25 at about 40 locations in Dayton, Ohio. The burritos and bowls will have double portions of chicken or steak, and toppings such as corn, guacamole and reduced fat sour cream. They'll be made with ...

New York to Get Vegas-Style Casinos

Wed, 19 Jun 2013 19:08:40 -0400

The agreement will allow Las Vegas-style resort casinos in the Southern Tier near Binghamton, the Hudson Valley-Catskills area and the Albany area. One region may get two casinos and that will likely be in the Catskills, which has a tradition of resort development. The deal also authorizes two video slot centers of 1,000 machines each on Long Island run by the off-track betting agencies of ...

Jeffrey Katzenberg Scales Up DreamWorks

Wed, 19 Jun 2013 19:08:39 -0400

CNBC's Julia Boorstin speaks to DreamWorks Animation CEO Jeffrey Katzenberg about the company's partnership with the Chinese government and its deal with ...

NY State to privatize Long Island utility freeze rates Governor Cuomo

Wed, 19 Jun 2013 18:55:45 -0400

NEW YORK (Reuters) - New York lawmakers announced a deal on Wednesday to privatize utility operations on Long Island and revamp the Long Island Power Authority, a state-owned New York utility company that was criticized for its response during last year's Superstorm ...

Ally deal draws limited objections from ResCap creditors

Wed, 19 Jun 2013 18:55:45 -0400

(Reuters) - Ally Financial Inc's proposed $2.1 billion agreement reached last month with creditors of its bankrupt Residential Capital LLC subsidiary cleared a key court deadline with only one vigorous objection, though several warning shots were ...

UPDATE 1-Microsoft reverses position on Xbox One Internet game sharing

Wed, 19 Jun 2013 18:55:17 -0400

Wed Jun 19, 2013 6:55pm EDT SEATTLE, June 19 (Reuters) - Microsoft Corp said on Wednesday that users of its forthcoming Xbox One game console will be able to play games offline without establishing an Internet connection, and will be able to lend or sell used disc-based games. The announcement reverses the company's position when it unveiled the console in May, causing consternation among ...

Warnings of REITs demise may be premature

Wed, 19 Jun 2013 18:51:34 -0400

The old adage that opportunity arises from adversity seems apt for the evolution of real estate investment trusts (REITs) in Canada. Marking a 20-year milestone this month, the collective real estate ownership investments have evolved into a market with at least 37 TSX-listed trusts, a market capitalization worth at least $72-billion, and assets worth more than $100-billion. Despite a recent ...

Quebec sets two-week deadline for construction strike

Wed, 19 Jun 2013 18:51:32 -0400

MONTREAL - The Quebec government has set an informal two-week deadline to resolve the province’s construction sector strike as reports surface of union brigades pressing non-unionized workers to put down their tools. ';If, in two weeks, no agreement has been reached, at a certain point we’ll have to take more drastic action,'; Premier Pauline Marois told reporters ...

UPDATE 2-Britain to look at RBS split start Lloyds sale soon

Wed, 19 Jun 2013 18:48:02 -0400

Wed Jun 19, 2013 6:48pm EDT By Matt Scuffham and David Milliken LONDON, June 19 (Reuters) - Britain is ready to start selling its shares in Lloyds Banking Group and will examine whether to break up Royal Bank of Scotland, Finance Minister George Osborne said on Wednesday, after acknowledging the re-privatisation of RBS remains a long way off. The government is keen to show Britain's ...

Eden Prairie-based Stratasys to buy MakerBot for $403 million

Wed, 19 Jun 2013 18:13:17 -0400

Eden Prairie -based maker of printers that can create three-dimensional objects, agreed to buy MakerBot Industries LLC for at least $403 million, acquiring a start-up competitor in the rapidly growing ...

Gold ending higher as other metals dip grain contracts rise

Wed, 19 Jun 2013 18:13:15 -0400

Gold is ending higher in Wednesday trading. The August contract is up $7.10 to $1,374 per ounce. Silver and copper are lower with platinum and palladium off by more than 1 percent. Benchmark crude finished 20 cents lower at $98.24 per barrel on the Nymex. Other energy contracts were higher. Wheat, corn and soybeans are up for the ...

Wisconsin Department of Health Services secretary takes medical leave

Wed, 19 Jun 2013 18:13:13 -0400

MADISON, Wis. -- Wisconsin Department of Health Services Secretary Kitty Rhoades is taking a leave of absence to have hip replacement surgery. DHS released a statement saying Rhoades' leave began on Wednesday. She hopes to return by the end of July. Deputy Secretary Kevin Moore will take over the agency in the interim although Rhoades said she will be involved in decision-making as her ...

Father sentenced for binding kids outside Wal-Mart

Wed, 19 Jun 2013 18:12:55 -0400

LAWRENCE, Kan. -; A suburban Chicago man was sentenced Wednesday to 30 months in prison for binding and blindfolding two of his children a year ago in a Wal-Mart parking lot in eastern ...

Stork missing from Safari Park

Wed, 19 Jun 2013 18:12:45 -0400

San Diego Zoo Safari Park officials are searching the North County today for an exotic bird that got caught in a wind gust and flew away Monday ...

UPDATE 1-Jabil to cut jobs forecasts core earnings below estimates

Wed, 19 Jun 2013 18:10:33 -0400

Wed Jun 19, 2013 6:10pm EDT * Sees 4th-quarter core earnings of $0.50-$0.58/share * Analysts expect core earnings of $0.59/share * Shares down 1 percent after market June 19 (Reuters) - Contract electronics maker Jabil Circuit Inc forecast current-quarter core earnings below analysts' estimates and said it planned to cut an unspecified number of jobs as part of a restructuring plan. Jabil ...

Bernanke May Have Just Made the Jobs Report More of a Circus

Wed, 19 Jun 2013 18:09:15 -0400

One of the government's most-hyped economic reports may start getting even more scrutiny thanks to Ben Bernanke. That's because the Federal Reserve chairman made some news on ...

After Hours Red Hat Nokia among gainers after hours

Wed, 19 Jun 2013 18:08:20 -0400

SAN FRANCISCO (MarketWatch) -- Linux software developer Red Hat Inc. was among the stocks seeing notable activity in after-hours trading following the company's quarterly ...

Microsoft Dynamics Apps Hit Azure Cloud

Wed, 19 Jun 2013 18:06:17 -0400

Microsoft announced Tuesday that it's finally offering its Dynamics GP and Dynamics NAV ERP applications on the Windows Azure cloud. The offering comes six months later than originally promised, but it gives customers a "secure, enterprise-class cloud infrastructure [option] from a trusted provider," according to Paul White, senior director, Microsoft Dynamics ERP. ...

The Federal Reserves dysfunctional relationship with the markets | Heidi Moore

Wed, 19 Jun 2013 18:05:23 -0400

stock markets , the bond markets, the markets for government-supported mortgages, the Fed is both the poison and the medicine.The Fed cured them of their ills. It helped pull those markets out of their doldrums in 2009. The central bank was so good at its job that the Fed is now essentially a market participant itself, influencing the prices in all those markets. As ...

Next government will have to cut 50 faster to meet deficit target

Wed, 19 Jun 2013 18:05:21 -0400

The next government will have to increase the pace of spending cuts by 50% in the two years after the 2015 election if it is to meet the current deficit target, new research by the Resolution Foundation thinktank shows.The report finds that if the next government decides instead to stick with the current - already punishing - pace of cuts, the deficit target will only be met by raising taxes by ...

Say what Microsoft offering up to $100000 for novel exploits of Windows 8.1 protections

Wed, 19 Jun 2013 18:03:31 -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. ...

Bernankes Private Exit Strategy

Wed, 19 Jun 2013 18:02:41 -0400

That tension then relaxation was a very interesting physical phenomenon. It's almost as if he realized for the first time, in the middle of the question, that he personally has an exit strategy. He's getting out long before the Fed gets out of QE. And he's keeping it ...

Microsoft Buckles Sets XBox One Free

Wed, 19 Jun 2013 18:02:40 -0400

Microsoft has announced a major policy change on the most controversial policies of the Xbox One, bowing to growing negative consumer sentiment. In a stunning reversal, the company announced that the system would no longer require an Internet connection (beyond an initial period when users first set up their system), dropped all restrictions on trading and loaning games to friends and did away ...

SandRidge Energy Ousts Founder

Wed, 19 Jun 2013 18:02:40 -0400

SandRidge Energy 's board of directors on Wednesday said CEO Tom Ward will be replaced by company president James Bennett, citing a need for new leadership at the U.S. oil and gas company.The Oklahoma City, Oklahoma, company has been under fire since last year from activist investor TPG-Axon Capital and another hedge fund for governance lapses and strategic missteps. Current president James ...

McAfee Tries to Fix His Own Software

Wed, 19 Jun 2013 18:02:39 -0400

spoof on YouTube (Warning: graphic language and images definitely NSFW) aiming to address years of complaints from computer users wanting to remove McAfee software from their devices. Hold onto your mouse pad, because this video is not for the faint of heart. It begins with McAfee explaining that even though he hasn't been affiliated with his namesake firm for 15 years, people keep asking ...

Major Stores May Mislead With Sales

Wed, 19 Jun 2013 18:02:39 -0400

Bargain shoppers beware: Some major retailers may be misleading consumers with those big sales. We all love a good sale, and when you see that sign--20 percent off, 30 percent off, 50 percent off--you assume you're getting a deal. But we found that the sale price may not be a deal at all. Now, customers are fighting back with class action lawsuits against two of the country's most ...

Fed will keep pedal to metal on economic stimulus for now

Wed, 19 Jun 2013 17:56:57 -0400

Repairman Jerry Garcia works on an engine on the assembly line at the Ford plant in Brook Park, Ohio. The American auto industry has made a remarkable turnaround. The economy is growing, the labor market is improving and inflation is nothing to worry about. That's the Federal Reserve's widely-anticipated assessment of the economy, released Wednesday after a two-day meeting.The Fed said ...

Federal Reserve Hints At Slowing Bond Purchases

Wed, 19 Jun 2013 17:54:40 -0400

The US Federal Reserve has signalled it is moving closer to slowing its bond-buying programme, which is intended to keep long-term interest rates at record lows. The Fed offered a more optimistic outlook for the US economy and job market, but said it will maintain the pace of its bond purchases for now. Chairman Ben Bernanke said the Federal Reserve could scale back its $85b (£54b) in ...

Xbox 180 Microsoft Fully Reverses Xbox Ones DRM Policies

Wed, 19 Jun 2013 17:51:04 -0400

Xbox One will not require regular online check-ins or place restrictions on game lending, ';as a result of feedback from the Xbox community,'; Microsoft announced today. The announcement is a complete reversal ...

SandRidge CEO Tom Ward ousted Bennett takes job

Wed, 19 Jun 2013 17:49:50 -0400

Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to ...

U.S. aerospace companies seek to reassure public on drones

Wed, 19 Jun 2013 17:49:50 -0400

PARIS (Reuters) - U.S. aerospace companies, keen to benefit from billions of dollars in possible future orders for civilian drones, are mobilizing to assuage public concerns about privacy and ...

Cliffs could halt Bloom Lake expansion if iron price falls

Wed, 19 Jun 2013 17:49:49 -0400

CLF.N ) said on Wednesday that if iron ore prices fell further, it could scrap a key expansion at its Bloom Lake mine in Canada's iron-rich Labrador Trough ...

Precious Metals and Stocks Sink After Federal Reserve Statements

Wed, 19 Jun 2013 17:47:21 -0400

SLV ) futures for July edged 5 cents lower to finish at $21.62.Both precious metals were relatively quiet ahead of the Federal Open Market Committee's highly-anticipated statement. As expected, the central bank will not dial down its bond-buying programs ...

An ETF For Quality Connoisseurs

Wed, 19 Jun 2013 17:47:02 -0400

Year-to-date and over the past 90 days, SPHQ has outpaced the S&P 500. Along those lines, it may not be surprise that S&P Capital IQ rates the $244.8 million ETF Overweight. S&P has four-star ratings on three SPHQ holdings: Dow ...

U.S. competition from Nordstrom good for Hudson’s Bay CEO says

Wed, 19 Jun 2013 17:45:43 -0400

TORONTO – Hudson's Bay Co. is looking forward to the arrival of rival Nordstrom to Canada, its chief executive says -- if only to showcase the veteran Canadian retailer's superior deals to consumers. Richard Baker said Wednesday Nordstrom's first store in Calgary in 2014 will likely strike consumers as beautiful and staffed with many helpful salespeople, but nevertheless as ...

Italian fashion designers Dolce and Gabbana given 20-month jail sentences for tax evasion

Wed, 19 Jun 2013 17:45:43 -0400

MILAN -- Fashion designers Domenico Dolce and Stefano Gabbana were handed a 20-month suspended prison sentence and a heavy fine on Wednesday for hiding hundreds of millions of euros from the Italian tax authorities. The design duo, who are nearly as famous as the stars they dress, were not present in court in Milan and will lodge an appeal against their conviction on charges that they have ...

Quebec regulator declares Desjardins too big to fail

Wed, 19 Jun 2013 17:45:42 -0400

Desjardins Group is one of the largest credit unions in Canada and now it’s also too big to fail. The Quebec Financial Markets Authority on Wednesday identified Desjardins Group as a so-called systemically important institution, putting it in the same class as the country’s big six banks. Under international Basel financial rules, systemically important institutions are financial ...

Bernanke sends stocks bonds skittering

Wed, 19 Jun 2013 17:44:37 -0400

Federal Reserve Chairman Ben Bernanke is on a television screen as specialist James Naughton works at his post on the floor of the New York Stock Exchange Wednesday, June 19, ...

US STOCKS-Wall St drops after Bernanke hints at slowing stimulus

Wed, 19 Jun 2013 17:43:49 -0400

Wed Jun 19, 2013 5:43pm EDT * Shares tumble after Fed chief signals stimulus could be pared back * Fed maintains pace of bond purchases for the present * REITs slump after Bernanke comments * Adobe, FedEx rise after results; Sprint tumbles * Indexes off: Dow 1.3 pct, S&P 500 1.4 pct, Nasdaq 1.1 pct By Ryan Vlastelica NEW YORK, June 19 (Reuters) - U.S. stocks fell more than 1 percent on Wednesday ...

GM Passes Toyota for First Time in Survey

Wed, 19 Jun 2013 17:43:36 -0400

J.D. Power & Associates’ Initial Quality Study for the first time since the survey started 27 years ago. J.D. Power’s survey of new vehicles was redesigned for 2013 to measure the quality and problems related to new technologies, the marketing information services company ...

Prisoners $1T Lawsuit Over Belly Ache

Wed, 19 Jun 2013 17:43:36 -0400

Jun 19, 2013 4:34pm A convict in an Arizona prison won’t quit his belly aching unless he’s paid $1 trillion – literally. Dale Frank Maisano, 61, an inmate at the Arizona State Prison Complex in Tucson, is suing the company that runs the prison’s commissary for $1 trillion, claiming the food gave him cramps and caused him to lose ...

US Airways chief warns lawmakers of potential service cuts

Wed, 19 Jun 2013 17:32:27 -0400

Wed Jun 19, 2013 5:32pm EDT * Fewer flights to smaller cities possible -CEO * CEO says "doesn't mean to sound threatening" By Diane Bartz WASHINGTON, June 19 (Reuters) - Forcing a combined American Airlines and US Airways Group to surrender slots at Reagan National Airport would risk fewer flights to small and medium-sized cities, US Airways CEO Doug Parker told lawmakers on ...

Microsoft talked with Nokia about buying devices unit-report

Wed, 19 Jun 2013 17:19:06 -0400

SEATTLE, June 19 | Wed Jun 19, 2013 5:19pm EDT SEATTLE, June 19 (Reuters) - Microsoft Corp recently talked with Nokia about buying the Finnish phone maker's devices unit, but the discussions faltered and are not likely to be revived, the Wall Street Journal reported Wednesday in its online edition. The Journal reported that "advanced discussions" on a deal happened as ...

Finisar profit beats Street estimates shares jump

Wed, 19 Jun 2013 17:06:09 -0400

(Reuters) - Network equipment maker Finisar Corp reported a quarterly profit that beat analysts' expectations as demand for its fiber optic products rose.Finisar shares rose 10 percent in trading after the bell. The stock closed at $14.52 on the Nasdaq on Wednesday.Net profit attributable to the company fell to $3.9 million, or 4 cents per share, in the fourth quarter from $18 million, or 19 ...

Fed sticks with bond purchases but offers brighter outlook for the economy

Wed, 19 Jun 2013 17:04:06 -0400

WASHINGTON -- Chairman Ben Bernanke ended weeks of speculation Wednesday by saying the Federal Reserve will likely slow its bond-buying program later this year and end it next year if the economy continues to improve. The Fed's bond purchases have helped keep long-term interest rates at record lows. Bernanke said the reductions would occur in "measured steps" and that the ...

GOP lawmaker says his opposition to state budget isnt a surprise

Wed, 19 Jun 2013 17:04:04 -0400

MADISON, Wis. -- One of three Assembly Republicans who voted against the state budget says he had made up his mind a long time ago. Rep. Steve Kestell of Elkhart Lake said Wednesday that his "no" vote was because the budget contains too many non-fiscal policy items he opposes or didn't have time to understand. Two other Republicans, Reps. Steve Nass and Howard Marklein, joined ...

As wildfires rage federal government spending less on preventing them

Wed, 19 Jun 2013 17:04:03 -0400

COLORADO SPRINGS, Colo. -- As the West battles one catastrophic wildfire after another, the federal government is spending less and less on its main program for preventing blazes in the first place. A combination of government austerity and the ballooning cost of battling the ruinous fires has taken a bite out of federal efforts to remove the dead trees and flammable underbrush that clog Western ...

2 ex-BP employees face new indictments in federal probe of massive Gulf oil spill

Wed, 19 Jun 2013 17:04:02 -0400

NEW ORLEANS -- Federal prosecutors have secured new indictments against a former BP engineer and a former BP executive charged separately with obstructing investigations of the company's 2010 oil spill in the Gulf of Mexico. Wednesday's indictment of former BP executive David Rainey adds language alleging that he knew of the pending congressional investigation he is charged with ...

Maine governor staff to stop talking to reporters for 3 newspapers accusing them of bias

Wed, 19 Jun 2013 17:03:59 -0400

PORTLAND, Maine -- Maine's blunt-spoken governor doesn't mince words when opponents dare to cross him but he's saved some of his harshest criticism for newspapers, once telling schoolchildren he isn't a fan of papers and another time saying that reading one is "like paying somebody to tell you lies." Now it's gone to an extreme, with Republican Gov. Paul LePage ...

Jabil Circuit Profit Down Sees Q4 Earnings Below Street

Wed, 19 Jun 2013 17:02:52 -0400

Quote ), Wednesday said its profit for the third quarter declined as restructuring charges and higher manufacturing costs offset revenue growth. Nonetheless, both earnings and revenues for the quarter came in ahead of Wall Street estimates.Moving ahead, Jabil detailed a weak earnings outlook for the fourth quarter, which is indicated to miss current expectations.Jabil said revenues for the third ...

FedEx shoots above forecast in quarterly earnings

Wed, 19 Jun 2013 16:59:21 -0400

FedEx reported better than estimated profit in the last quarter, boosted by growth in its ground shipment business, while also benefitting from lower jet fuel ...

Asian stocks mixed ahead of Fed announcement Nikkei rallies on exports

Wed, 19 Jun 2013 16:59:16 -0400

Asian stocks were mixed on Wednesday ahead of Fed Chairman Ben Bernanke’s speech later in the day. The U.S. Federal Reserve two-day meeting ends today and investors are looking for clues on the outlook for ...

Asian stocks advance ahead of this week`s Federal Reserve meeting

Wed, 19 Jun 2013 16:59:16 -0400

Asian stocks advanced with the start of the week, ahead of the U.S. Federal Reserve two-day meeting that covenes on Tuesday. Market participants will focus on this meeting as it might show the direction of the central bank stimulus ...

Microsoft enters bug bounty fray for first time

Wed, 19 Jun 2013 16:56:48 -0400

Google targets cross-site scripting by more than doubling bug bounties In a move geared to keep up with the ever-changing online threat landscape, Google has increased its reward levels for researchers that uncover flaws. In particular, Google has its sights set on cross-site ...

Hearts get 15-point SPL deduction after appointing administrator

Wed, 19 Jun 2013 16:56:08 -0400

Hearts will begin next season with a 15-point penalty after their major creditor, Ukio Bankas, succeeded in installing its preferred administrator in charge of the club - the major battle for survival will now take place off the pitch as BDO looks to negotiate the club out of a 25m deficit.Ukio Bankas, which is itself bankrupt, and the joint-administrator Bryan Jackson both stated their intention ...

George Osborne ready to sell taxpayers stake in Lloyds Banking Group

Wed, 19 Jun 2013 16:56:07 -0400

Royal Bank of Scotland , in a move that could delay the bailed out bank's return to the private sector.In his annual speech to City grandees at Mansion House on Wednesday night, the chancellor said he was "actively considering options for share sales in Lloyds", in which the government has a 39% stake. Speculation is mounting that a partial sell-off of the state's Lloyds stake ...

George Osbornes shift on bad bank model is welcome

Wed, 19 Jun 2013 16:55:52 -0400

George Osborne announced, the option of a good bank/bad bank split at RBS will be examined in detail. In any case, privatisation of RBS is "some way off", said Osborne, and Lloyds is top of the batting order for a sale of shares.What on earth is going on? Well, one thing is clear: the assembled forces of Lord Lawson and other members of the Banking Commission, the governor of the Bank ...

GM Drives Off With 8 J.D. Power Awards

Wed, 19 Jun 2013 16:53:07 -0400

General Motors vehicles won eight awards in the annual J.D. Power & Associates survey of initial quality, a marked improvement since the largest American automaker turned itself around after a 2009 bankruptcy. GM cars and trucks won eight top prizes as the best vehicles in their segments of the U.S. auto market. Chevrolet, which accounts for 71 percent of General Motors' U.S. sales, ...

Chinese Billionaire to Buy Sunseeker

Wed, 19 Jun 2013 16:53:06 -0400

Now, the owner of the Wanda 2, Wang Jianlin, the billionaire chairman of the privately held Dalian Wanda Group, is betting there are others out there who are ready to one-up him. On Wednesday, Mr. Wang's company, which last year bought the American cinema chain AMC Entertainment for $2.6 billion, said it would invest 1 billion ($1.6 billion) to acquire Sunseeker International, the British ...

Microsoft Held Talks With Nokia

Wed, 19 Jun 2013 16:53:06 -0400

Nokia 's device business, according to a report in the Wall Street Journal. The talks have faltered, according to people familiar with the negotiations, and one person said talks took place as recently as this month but aren't likely to be revived. Read the full Wall Street Journal ...

New US Climate Strategy Brewing

Wed, 19 Jun 2013 16:53:05 -0400

Barack Obama will target carbon emissions from power plants as part of a second-term climate change agenda expected to be rolled out in the next few weeks, his top energy and climate advisor said on Wednesday. Obama will take several steps to make tackling climate change a "second-term priority" that builds on first-term policies, Heather Zichal, deputy assistant to the president for ...

Treasury considering Lloyds sale

Wed, 19 Jun 2013 16:51:57 -0400

Libor rate-rigging scandal. Senior bankers should be personally responsible for malpractice, with a new criminal offence of reckless misconduct in the management of a bank that carries a custodial sentence, the commission concluded. It also called for bankers to be licensed and to sign up to a set of banking standards rules.A Treasury spokesman said the report was a "very impressive piece of ...

Stocks skid 200 points as Fed hints at stimulus slowdown

Wed, 19 Jun 2013 16:47:25 -0400

41 minutes ago Stocks accelerated their selloff in the final hour of trading on Wednesday to close over 200 points lower, after the Federal Reserve said it will maintain its bond-buying program, although Chairman Ben Bernanke hinted that the FOMC plans to moderate purchases later this year. "They don't tie themselves officially into anything but it's clearly what they're ...

Cheapism Best free jobs sites

Wed, 19 Jun 2013 16:47:24 -0400

1 hour ago If only prospective employers sought you out as aggressively as some career sites do. You could just sit back and wait for your dream job to show up on a Super Bowl commercial or banner ad. With so many websites vying for job seekers' attention, it's easy to while away precious hours trying them all. Instead, pick your spots. Experts suggest spending most of your time ...

Consumer group says student loan debt relief firms misleading borrowers

Wed, 19 Jun 2013 16:47:23 -0400

By Bob Sullivan, Columnist, NBC News Struggling student loan debtors are being tricked into paying up to $1,600 in fees to private firms offering "debt relief" that they could get for ...

Wall Street falls sharply on Bernanke comments

Wed, 19 Jun 2013 16:46:02 -0400

U.S. stocks fell 1% in a volatile session on Wednesday, with losses accelerating after Federal Reserve Chairman Ben Bernanke said a reduction in the rate of stimulus could occur this year if the economy continues to improve. Shortly before Bernanke spoke at a news conference, stocks fell modestly after Fed policymakers said in a statement the Fed would keep buying $85 billion in bonds per month ...

Chancellor Unveils Plan For State-Owned Banks

Wed, 19 Jun 2013 16:45:04 -0400

Shadow chancellor Ed Balls has said the review into the future of RBS is welcome but the Government must look at all options, including splitting it ...

Government review says American-US Airways merger would reduce competition on many routes

Wed, 19 Jun 2013 16:44:44 -0400

DALLAS - A government analyst says the merger of American Airlines and US Airways would reduce competition on more than 1,600 routes travelled by more than 53 million passengers. A researcher for the Government Accountability Office said Wednesday that the loss of competition would be greater than occurred in the 2010 merger of United and Continental airlines. American and US Airways executives ...

Microsoft had flirted with buying Nokia WSJ says

Wed, 19 Jun 2013 16:42:55 -0400

Wall Street Journal . With such a deal, Microsoft would gain direct control over the mobile device maker, which has been the marquee partner for the software giant's fledgling Windows Phone operating system. CNET contacted Microsoft and Nokia for comment, and we will update the story when the companies respond. More to ...

Harvard hires Xia from Morgan Stanley as chief risk officer

Wed, 19 Jun 2013 16:40:14 -0400

BOSTON (Reuters) - Harvard University said on Wednesday that it had hired Wall Street veteran Jake Xia as its chief risk officer to analyze and monitor investment exposure in its $30.7 billion ...

Microsoft offers cash for hacker tactics

Wed, 19 Jun 2013 16:39:31 -0400

MICROSOFT has posted bounties of up to $US100,000 ($A106,000) for "truly novel" ways to hack the latest version of its Windows software for powering ...

Microsoft Nokia had device acquisition talks WSJ

Wed, 19 Jun 2013 16:38:12 -0400

-0.26% that nearly led to the software giant acquiring the Finnish telecom company's mobile device business, according to a report in the Wall Street Journal. The Journal said that the two companies made "significant progress" toward a deal, but talks broke down due to a final price and Nokia's market position, as it trails behind Apple ...

Instant View Fed to keep buying bonds boosts 2014 forecasts

Wed, 19 Jun 2013 16:37:33 -0400

The Federal Reserve on Wednesday said it would keep buying $85 billion in bonds per month and gave no explicit indication that it was close to scaling back the program, despite intense market speculation it could soon start drawing it to a close. KEY POINTS: * Describing the economy as expanding moderately, Fed officials cited further improvement in labor market conditions, and noted inflation ...

Kodak Bankruptcy Company Seeks Court Approval for $406 Million Rights Offering

Wed, 19 Jun 2013 16:37:12 -0400

Antonio M. Perez, Kodak's chairman and CEO While members of the theatrical exhibition community are gathered at next week’s CineEurope conference, Kodak will be in a New York courtroom on June 25 for a key hearing in the company’s effort to emerge from chapter 11 bankruptcy and continue to produce film ...

Griffiths International has more modest going-public ambitions

Wed, 19 Jun 2013 16:36:06 -0400

Despite a series of ongoing obstacles, the gang at Caracal Energy, the new name for the former Griffiths Energy International, is pressing ahead with plans to go public. The reality is that those plans keep getting pushed back - and narrowed in scope. This week, Caracal filed a 274-page non-offering prospectus with regulatory authorities in Canada designed to enable Caracal "to become a ...

Keystone XL denial won’t block oil sands ambassador

Wed, 19 Jun 2013 16:36:04 -0400

Heavy oil from Alberta will be developed with or without the proposed Keystone XL pipeline, though the fuel will be delivered to market using less efficient means, Canada's ambassador to the U.S. said. Speaking at a Bloomberg Government breakfast in Washington Wednesday, Gary Doer said he supported the U.S. State Department's finding in March that blocking the TransCanada Corp. ...

Men’s Wearhouse ousts founder George Zimmer who told millions ‘You’re going to like the way you look’

Wed, 19 Jun 2013 16:36:03 -0400

NEW YORK -- Apparently, Men's Wearhouse Inc. doesn't like the way its founder looks anymore. In a terse release issued Wednesday, Men's Wearhouse said it has fired the face of the company and its executive chairman, George Zimmer, who appeared in many of its TV commercials with the slogan "You're going to like the way you look. I guarantee it." In a statement ...

Video Bernanke The fundamentals look a little better

Wed, 19 Jun 2013 16:34:53 -0400

Federal Reserve Chairman Ben Bernanke says the fundamentals of the U.S. economy "look a little better to us," particularly the housing sector, which had been a drag on growth during the ...

Rumor Microsoft set to reverse controversial game licensing policies

Wed, 19 Jun 2013 16:33:48 -0400

changed certain policies for Xbox One "as a result of feedback from the Xbox community." More to come. ORIGINAL STORY Take this with a grain of salt for now, but Giant Bomb news writer Patrick Klepek ...

Gay Couples Face Rental Bias HUD Says

Wed, 19 Jun 2013 16:33:36 -0400

Same-sex couples face greater discrimination when looking for a place to rent than do heterosexual couples, a new federal study finds. ...

Nvidias stock jumps on license plan Wall Street eyes Apple

Wed, 19 Jun 2013 15:57:26 -0400

By Noel Randewich(Reuters) - Shares of chipmaker Nvidia surged nearly 6 percent on Wednesday after the company said it plans to license its graphics technology, opening the door to new business with Apple, Samsung Electronics and other mobile device makers.Chief Executive Officer Jen-Hsun Huang told the Reuters Global Technology Summit in San Francisco on Tuesday that licensing graphics cores and ...

Best Buy recalls 5100 replacement batteries for MacBook Pro due to fire risk

Wed, 19 Jun 2013 15:55:13 -0400

Best Buy is recalling 5,100 replacement batteries for the MacBook Pro due to a fire risk. The U.S. Consumer Product Safety Commission said Wednesday that there have been 13 reports that the battery caught fire. One consumer suffered a serious burn on the leg. Best Buy Co. is voluntarily recalling both black and white ATG lithium-ion replacement batteries for the notebook computers. The ...

Wisconsin Senate to debate state budget Thursday following quick Assembly passage

Wed, 19 Jun 2013 15:55:10 -0400

MADISON, Wis. -- The Wisconsin Senate plans to debate the state budget on Thursday, and Republican Majority Leader Scott Fitzgerald says no changes are planned. Fitzgerald said Wednesday he thinks there are enough Republican votes in the Senate to pass it in its current form. Republicans hold an 18-15 majority, but some moderates have raised concerns with the expansion of private school vouchers ...

Study Wiser medication use could save US $213 billion a year in avoidable health care costs

Wed, 19 Jun 2013 15:55:09 -0400

TRENTON, N.J. -- If doctors and patients used prescription drugs more wisely, they could save the U.S. health care system at least $213 billion a year, by reducing medication overuse, underuse and other flaws in care that cause complications and longer, more-expensive treatments, researchers conclude. The new findings by the IMS Institute for Healthcare Informatics improve on numerous prior ...

Fed Interest rates wont go up til unemployment goes down

Wed, 19 Jun 2013 15:54:39 -0400

In this Wednesday, May 22, 2013 photo, Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington. The Federal Reserve ends a policy meeting Wednesday, June 19, 2013. Investors have been nervously speculating that the Fed will soon scale back its economic stimulus and send interest rates up and stock prices down. (AP Photo/Manuel Balce ...

US STOCKS SNAPSHOT-Wall St adds to losses on Bernanke comments

Wed, 19 Jun 2013 15:53:22 -0400

NEW YORK, June 19 | Wed Jun 19, 2013 3:53pm EDT NEW YORK, June 19 (Reuters) - U.S. stocks extended losses in late trading session, with the Nasdaq falling more than 1 percent, after Federal Reserve Chairman Ben Bernanke said the Fed could reduce the rate of stimulus this year if the economy continues to improve. The Dow Jones industrial average was down 179.62 points, or 1.17 percent, at ...

SEC sets tougher stance on Street wrongdoing may start requiring admissions of guilt

Wed, 19 Jun 2013 15:51:54 -0400

Hedge fund honcho Steve Cohen is suddenly looking pretty lucky.Just months after Cohen’s SAC Capital agreed to a $602 million SEC settlement over insider trading - without admitting any wrongdoing - the SEC is talking tough.Mary Jo White, the new head of the Securities and Exchange Commission, plans to hold a town hall meeting to discuss when to require some defendants to admit to ...

Take an early peek inside Microsofts new downtown Portland store

Wed, 19 Jun 2013 15:49:11 -0400

PORTLAND, Ore. - Microsoft Corp. gave reporters a preview of its gleaming new Portland store Wednesday ahead of its Thursday grand opening. Manager David Dantes leads a staff of 45 at the 3,200-square-foot store, constructed in the former Romano’s Macaroni Grill restaurant, 300 S.W. Yamhill St., at Pioneer Place in downtown Portland. The Portland store is one of seven Microsoft ...

Margate residents appeal against giant new Tesco

Wed, 19 Jun 2013 15:47:49 -0400

Angry residents of Margate have appealed to the High Court against the Government's decision to build a giant Tesco store on the ...

Papers please Microsoft creates second-class citizens with Office iPhone app

Wed, 19 Jun 2013 15:44:44 -0400

Computerworld - Microsoft erred when it decided that the new Office Mobile for iPhone would be available to Office 365 customers but not to those who purchased a traditional "perpetual" license to Office 2013, an analyst argued. "It's a mistake," said Frank Gillett of Forrester Research in an interview last week. "Any one [with Office 2013] should be able to access ...

Ex-Goldman Sachs VPs Defense Limited

Wed, 19 Jun 2013 15:44:32 -0400

Goldman Sachs vice president Fabrice Tourre can argue that he was acting on the advice of company lawyers in his defense against charges that he misled investors.The ruling could be another setback for Tourre ahead of his trial on July 15, after the judge earlier this month rejected his argument that ...

Investing to Retire Tax-Free

Wed, 19 Jun 2013 15:44:32 -0400

"Tax-free retirement" has a nice ring to it. If, like two-thirds of Americans, you are unsure you've saved enough for your out years, it's especially nice to know that Uncle Sam won't be pinching a slice of your meager pie. Or maybe you're an ample saver convinced by the tax talk in Washington that the feds will undo your careful planning by raising taxes by the time ...

Sex Toy Battle Shows Industry Growing

Wed, 19 Jun 2013 15:44:31 -0400

Is the sex toy business all grown up? In a highly watched case for the adult-entertainment crowd, a U.S. trade panel has ruled that several sex toy makers are violating a patent held by a Canadian company for a two-armed vibrator. The U.S. International Trade Commission ordered those competitors to stop making and selling products to Standard Innovation Corp.'s We-Vibe toy. While such ...

FBI Ends Search For Hoffa

Wed, 19 Jun 2013 15:44:30 -0400

The FBI has failed to find remains of ex-Teamsters leader Jimmy Hoffa in a field outside suburban Detroit, with the "Power Lunch" crew. The search goes ...

New Swine Virus Spreading Among Piglets

Wed, 19 Jun 2013 15:44:29 -0400

A swine virus never been seen in North America and deadly to young pigs is spreading rapidly across the United States, and it is proving harder to control than previously believed. The virus, with more than 100 positive cases, has spread to 13 states since it was diagnosed in the country last month, said Montserrat Torremorell, a specialist in swine health and professor at the University of ...