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Bernanke says more positive signs needed before scaling back stimulus
WASHINGTON - Chairman of the Federal Reserve, Ben Bernanke Wednesday said it was too soon to scale back the monetary stimulus and the central bank needs to see further signs of traction before taking a decision. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain ...
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Higher exports fail to plug widening Japan trade deficit
TOKYO - Japan's trade deficit rose substantially more than expected in the month April to 879.9 billion yen ($8.6 billion), which is a 70% jump over the trade deficit during the corresponding month a year earlier, the Finance Ministry said Wednesday.. The deficit, for the tenth consecutive month, was wider than what many economists had forecast. A survey from the Nikkei business daily ...
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Vitamin C offers hope of tackling drug resistant TB
WASHINGTON - Adding vitamin C to existing tuberculosis drugs regime could shorten the therapy for drug resistant TB, claims new research findings published in the online scientific journal Nature Communications. The striking discovery, by researchers at Albert Einstein College of Medicine of Yeshiva University, has determined that vitamin C kills drug-resistant TB bacteria in laboratory ...
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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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Labour reforms to top US team agenda on Bangladesh visit
DHAKA - A high level US delegation led by the State Department's Under Secretary for Political Affairs Wendy Sherman will visit Bangladesh this weekend to press for a major overhaul of labour safety regulations following the nation's deadliest industrial accident, an official said Wednesday. The collapse of a nine-storey factory complex housing several garment units outside the capital last ...
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Barroro voices concern over estimated one trillion euro tax evasion
BRUSSELS - Voicing concern about tax evasion that is estimated at one trillion euros, European Commission President Jose-Manuel Barroso said Tuesday that EU leaders will meet at a one-day summit on Wednesday to negotiate solution. The European Union can't afford to let tax evasion go on the way it is. Such large amounts of money, currently sitting in tax havens, would be greatly beneficial ...
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German central bank sees signals of economic pick up in Q2
FRANKFURT - Germany's central bank Deutsche Bundesbank expects the country's economy to improve "markedly" in the second quarter relying on signals of pick up in industrial orders and likelihood of weather related downturn in construction sector no longer impacting investment sentiments a development that could boost the wider eurozone as it struggles to get out of recession. "Overall ...
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Construction begins on new island off Jumeirah Beach in Dubai
Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...
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Mortgage lending in UK rises highest in four years
LONDON - The UK housing market seems to be picking up with gross mortgage lending up 4.3 per cent in April over previous month to 12.1 billion pounds, the highest in over four years, according to the Council of Mortgage Lenders (CML). The mortgage lending was 21% higher than April 2012, but this data is skewed by the end of the stamp duty concession on 24 March, 2012. Under the stamp duty ...
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Microsoft launches all-in-one home entertainment system Xbox One
Microsoft has unveiled its latest video gaming console 'Xbox One' which is believed to transform games, TV and entertainment for the 21st century living room. The latest console reportedly promises a vision of the future. According to a report by the Mirror, 'Xbox One' will allow users to turn on the device with words like "Xbox On", and "snap" will allow users to watch two things at ...
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Microsoft unveils new all-in-one Xbox console
Microsoft unveiled a new Xbox console Tuesday that represents a major upgrade on the US-market-leading Xbox 360 model. The president of the IT giant's Interactive Entertainment Business, Don Mattrick, revealed the hi-tech Xbox One entertainment and gaming console during an event at Microsoft's Redmond, Washington, campus. The Xbox One was presented as an all-in-one system for gaming, watching ...
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Microsoft Unveils New Xbox One Game Console
REDMOND, WASHINGTON Microsoft Corp gave the world the first look at its new game console on Tuesday, hoping the Xbox One will attract existing video game fans while also becoming a hub for living room entertainment. The third-generation Microsoft console, coming eight years after the Xbox 360, was unveiled by games unit chief Don Mattrick at an event at the software company's campus ...
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Hewlett-Packard sees profit drop but beats expectations
A Hewlett-Packard logo is seen at the company's Executive Briefing Center in Palo Alto, California in this January 16, 2013, file photo. Hewlett-Packard Co's quarterly profit slid 32 percent but the world's largest personal computer maker raised the lower end of its full-year outlook as revenue from services to corporations slightly offset shrinking PC sales in the second quarter ...
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ValueVision has first quarterly profit in seven years
Eden Prairie firm, better known as the TV channel and website ShopNBC, earned $1 million, or 2 cents a share, in the first quarter its first quarterly profit since 2006. "We cut costs and managed carefully," said Bill McGrath, chief financial officer, in an interview Wednesday. The firm reduced several lending agreements to one, and expanded its revolving line of credit to $50 million ...
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San Diego top Memorial Day destination
Expect a busy Memorial Day weekend as millions of Southern Californians hit the road, many of them opting to stay in San Diego, reports the Automobile ...
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Confusion Ruled the Day at Microsofts Xbox One Reveal Event
In today's business world, disruption is a constant force that never lets up. At the annual WIRED Business Conference: Disruptive by Design, we celebrate the creative power of bold new ideas and the people that make them happen. See the event ...
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Electric carmaker Tesla pays off U.S. loan
Tesla Chief Executive Office Elon Musk speaks at his company's factory in Fremont, California, June 22, 2012, as the car company began delivering its Model S electric ...
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Starbucks veteran Michelle Gass leaving for Kohls
SBUX.O ) executive Michelle Gass, who was instrumental in the world's biggest coffee chain's post-recession U.S. turnaround, is leaving after more than 16 years to become chief customer officer at retailer Kohl's Corp ...
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US stocks fall on possible Fed retreat
US stocks have ended lower following a choppy day of trading as the market weighed exit signals on the Federal Reserve's exceptionally loose monetary ...
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H-P earnings fall shares rally on beat forecast
SAN FRANCISCO (MarketWatch) -- Hewlett-Packard on Wednesday posted a big drop in earnings for the second fiscal quarter, though the adjusted results beat Wall Street's and sent the stock on an after-hours ...
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Dell buyout group discounts companys dismal 1Q earnings
Billionaire investor Carl Icahn is part of an investor group competing with a group led by Dell Inc. CEO Michael Dell to buyout the companys shareholders. Dell Inc.s prospective buyout group is downplaying last weeks 79 percent decline in first-quarter profits. Tennessee-based Southeastern Asset Management Inc. wrote that Round Rock-based Dells (Nasdaq: DELL) performed well in the business ...
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Guess Whos Piling into Stock ETFs Central Bankers
The U.S. Federal Reserve's zero interest rate policy (ZIRP) and multiple rounds of quantitative easing (QE) have been rightly blamed on surging stock prices ...
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SeaWorld reports nearly $240M in sales in first earnings report
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HP profit down 32 percent shares up as results beat estimates
SAN FRANCISCO (Reuters) - Hewlett-Packard Co's quarterly profit slid 32 percent but the world's largest personal computer maker raised the lower end of its full-year outlook after earnings per share beat forecasts, sending its stock 10 percent ...
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Court ruling gives mixed message in Unique Broadband Systems dispute
Granted, it ain't over till it's over, but there has been something of a mixed message delivered in the matter between Unique Broadband Systems and Jolian Investments Ltd., a private company controlled by Gerald McGoey, the former chief executive of UBS. In a 37-page ruling released Wednesday, Madam Justice Mesbur of the Ontario Superior Court of Justice outlined reasons why ...
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