Latest International Business News
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Abercrombie shares slide after earnings disappoint
+0.48% reported a first-quarter loss of $7.2 million, or $0.09 a share, narrower than the loss of $21.3 million, or $0.25 a share, a year earlier. Revenue fell 9% to $838.8 million, from $921.2 million a year earlier, the retailer said Friday. Analysts had expected a loss of $0.05 a share on revenue of $938 million, according to FactSet. The retailer said it expects second-quarter EPS of $0.28 ...
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German Soccer Rules Europe Can It Conquer the World
Murdoch's Sky Deutschland Scores Big With Bundesliga Rights For the 200 million viewers who will watch the first-ever all-German Champions League final on Saturday, the message is clear: European soccer now speaks with a German ...
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Republicans package H-1B plan in attractive website
starting its debate on a comprehensive immigration bill, Republican lawmakers in the House have released a plan of their own. The Skills Visa Act, by Darrell Issa (R-Calif.), isn't completely new and is based on earlier legislation. But what is a little different about the ...
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Google Glass breaks into business
Computerworld - While Google Glass is currently being viewed as a consumer technology, IT shops and mobile workers are likely already champing at the bit to be able to use a hands-free technology to do their jobs. "The same way that tablets followed smartphones into the enterprise on the backs of employees bearing the cost, Google Glass will also flow the same way," said Chris ...
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U.S. ITC wont ban Microsofts Xbox as Google requests
IDG News Service - 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 ...
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Poll How do you rate the economy
- Two-thirds of Americans say that the nation's economy is in poor shape, but a new national poll indicates there are a few glimmers of optimism. According to a CNN/ORC International survey released Friday morning, a third of the public says economic conditions are good right now. That's up seven percentage points from the 26% who felt that way in a CNN poll from December. And the 67% ...
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Cosatu Current repo rate wont help employment
A flailing rand dogged by labour unrest and the threat of high wage talks has prompted the South African Reserve Bank to keep the repo rate unchanged at 5%, which the Reserve ...
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Google says it welcomes tax reform
Google also welcome the crackdown on other multinational internet businesses that take billions of pounds of sales from the United Kingdom through overseas companies, which Her Majesty's Revenue & Customs (HMRC) cannot tax. "Given the intensity of the debate, not just in the UK but also in the United States and elsewhere, international tax law could almost certainly benefit from ...
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Corruption by any other name
Until a day or two ago, I thought of name-dropping as a harmless, albeit unedifying, practice, perpetrated by inadequate individuals. Harmless, because people who have to aggrandise themselves by dropping the names of the kings and rock stars that they hang out with generally do not possess the individual power to do much harm. Unedifying, not only because there is much that is pathetic about ...
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REUTERS SUMMIT-Rating agencies alert to Argentina debt ruling souring economy
By Hilary Burke Fri May 24, 2013 6:59am EDT May 24 (Reuters) - Argentina's dismal credit ratings might get a boost if U.S. courts rule in the country's favor in a long-running dispute with creditors over a 2002 default, but souring economic conditions could hold the ratings back, credit analysts said. Argentina is still struggling with the fallout from its roughly $100 billion sovereign ...
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Soccer fans kick in $2 million to St. Louis economy
Manchester City may have beat rival Chelsea 4-3 last night at Busch Stadium, but it appears the city of St. Louis will come out as the big winner. Brian Hall with the St. Louis Convention and Visitors Commission told KTVI the soccer game last night was the equivalent of a first round playoff game that draws some 46,000 fans downtown. He said those fans spend between $1.5 million to $2 ...
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CE bond markets join global sell-off
Global sell-off in core bond and equity markets hit also Central Europe. Regional bond markets, previously benefiting from heavy foreign portfolio inflows, suffered the largest losses. As outflows replaced inflows, prices of regional sovereign bonds began to drop while their yields jumped higher. The biggest rise in sovereign bond yields happened in Poland where the stock of domestically issued ...
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Taoiseach criticises commentary on Irelands corporate tax rate
The Taoiseach has criticised much of the commentary around Ireland's corporate tax rate.Speaking at the second EU Asia conference in Dublin, Enda Kenny defended our tax regime again - after a US Senate Committee heard that Ireland had agreed a special tax rate with the computer giant Apple.The Taoiseach said the Irish tax regime is fully transparent - and hit out at reports surrounding the ...
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Ethiopia Economy to Expand By 11.3 Percent
Ethiopia's economy is estimated to expand by 11.3 per cent in the 2012/13 budget year. This is according to a 9 month performance reported to the Budget and Finance Affairs Permanent Committee of the Parliament by Sofian Ahmed, Minister of Finance and Economic Development. He explained to the committee that the performance of the economy this year in agriculture, industry, and service ...
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Oil and pipelines driving Canadas economy
Natural resources form "one of the cornerstones" of the Canadian federal and provincial economies, Natural Resources Minister Joe Oliver said. Canada is the one of the Top 10 oil producers in the world. The Canadian Department of Natural Resources said oil production from North America is expected to increase more than 10 percent to 2016 in part because of Canadian oil production. In ...
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GLOBAL MARKETS-Shares steady but stimulus fears still present
Fri May 24, 2013 6:38am EDT * World shares attempt tentative recovery * Fed officials try to reassure on stimulus timing * Euro gains as better Ifo makes ECB easing less likely By Richard Hubbard LONDON, May 24 (Reuters) - World share markets looked vulnerable to further falls on Friday, with better economic news from Europe doing little to encourage investors who are worried that central bank ...
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BRIEF-Cadiz sees FY earnings of 2.2 cents per share
JOHANNESBURG | Fri May 24, 2013 6:21am EDT JOHANNESBURG May 24 (Reuters) - Cadiz Holdings Ltd : * FY basic and diluted earnings and headline earnings are expected to be 2.2 cents per ...
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Guideline focuses on boosting economy
/enpproperty--> The National Development and Reform Commission released a guideline covering luxury and property tax, as well as other sectors of the economy. The guideline, issued on Friday, also promotes energy-saving measures and green development. The commission vowed that excessive energy consuming products "will be subject to taxation". Some items previously categorized as ...
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PM orders auto industry crisis meeting
PRIME Minister Julia Gillard has ordered a crisis meeting to examine the future of the nation's automotive industry in the wake of the shock decision by Ford to quit manufacturing in Australia. In Sydney for a National Panel for Economic Reform meeting, the Prime Minister said she had agreed to union requests for a meeting "for strategic discussion" on the future of the ...
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FCC hopes to avoid end of world for cell phones
"I e-mailed my boss to ask what would happen if we don't free up enough spectrum," said Tom Sugrue, T-Mobile's vice president of government affairs, at a panel discussion held at the CTIA wireless industry trade show in Las Vegas this week. "He wrote, 'It will be the end of the world as we know it.' He didn't put a smiley face at the end or anything." ...
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Global follow-on share offerings hit all-time high
LONDON | Fri May 24, 2013 6:12am EDT LONDON May 24 (Reuters) - Global follow-on share sale volumes have hit their highest year-to-date level since records began in 1980, powered by sellers taking advantage of rallying stock markets, Thomson Reuters data showed on Friday. According to the data, follow-on activity, which includes share offerings such as stake sales and rights issues, ...
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3D printers give rise to desktop manufacturing
Digital technologies such as 3D modeling software and 3D printers have grown cheap and accessible enough for ordinary people to make prototypes of objects that could, until recently, only be made by people who owned factories. (Emily ...
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Youre in their pockets High Court row over valuation in General Electric planes deal with Lebedev-controlled Blue Wings airline
One of the world's biggest aircraft valuers was accused in the High Court of being in the pockets of General Electric's vast GECAS commercial aeroplane leasing ...
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UPDATE 1-UKs Co-op Bank stops lending to new corporate clients
Fri May 24, 2013 6:09am EDT * Bank will continue lending to individuals * Existing customers are not affected by move * Co-op is in talks with regulator on capital plans * Moody's ratings downgrade prompted capital concerns By Matt Scuffham LONDON, May 24 (Reuters) - The Co-operative Bank has stopped offering loans to new business customers, part of measures designed to quell growing ...
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Dont just blame the bankers for the crisis
This has prompted debate on how much responsibility he should take for the financial crisis. Sir Mervyn King said on May 19 that the failings of the financial and regulatory system were the root cause of the turmoil that struck the world economy almost six years ago. King, who will leave the bank this year, told Sky News's Murnaghan programme that there was widespread risk-taking in the ...
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