Latest International Business News
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June 28 to see News Corp split into two companies
WASHINGTON - Rupert Murdoch's News Corporation Friday announced the planned separation of the $76-billion conglomerate into two distinct publicly traded companies, with one to be renamed 21st Century Fox and the publishing firm to retain the News Corp brand. The split has been formally approved by the Board of Directors. The Company announced appointments to the Boards of Directors of both ...
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Audit records of Chinese firms to be made accessible to US regulators
BEIJING - Chinese regulators Friday announced that they have signed a memorandum of understanding with their US counterparts giving American authorities increased access to documents from Chinese audit firms. The signing of the MOU between China Securities Regulatory Commission (CSRC), the Ministry of Finance (MOF) and the US Public Company Accounting Oversight Board (PCAOB) is a significant ...
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Investments being sought by Croatia for oil exploration in Adriatic Sea
ZAGREB/LONDON - Croatia, soon to become the 28th member of the European Union,- is looking to undiscovered oil and gas fields in the Adriatic Sea to revive its ailing economy, according to the country's president. Ivo Josipovic told CNN that Croatia is searching for partners in the energy sector to help reveal oil and gas "green fields" in the waters that separate the Balkan nations and ...
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Fan fiction authors to find platform on Amazon
WASHINGTON - Amazon, the largest online retailer of books, movies, music and games, Friday offered its Kindle e-book platform to fan fiction authors to sell some of their work. Fan fiction is literature inspired by popular books, shows, movies, comics, music, and games. Publication outside of blogs and online fanzines is often difficult because of copyright issues. Amazon Publishing has ...
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Central bank of China to push forward market oriented reforms
BEIJING - China is planning to steadily push forward market-oriented reform in its interest rates and exchange rates mechanisms this year as part of the financial sector reforms to better serve the real economy, a central bank report said on Friday. The "China Financial Stability Report (2013) released by the People's Bank of China stressed that it would be steadily promoting the interest ...
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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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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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Private firms may travel to lunar surface NASA report
A study of future human missions has indicated corporate researchers could be living on the moon by the time NASA astronauts head off to visit an asteroid in the 2020s. The study by Bigelow Aerospace, commissioned by NASA, shows "a lot of excitement and interest from various companies" for such ventures, Daily Mail quoted Robert Bigelow, founder and president of the Las Vegas-based firm, as ...
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Homeland Security bulletin warns 3-D printed gun plans may be impossible to access
The menace of 3-D printed guns has already spread far and it will be 'impossible' to stop the manufacturing of more guns, an intelligence bulletin has revealed. The Department of Homeland Security has warned that the use and passage of 3-D printed guns are likely to spread beyond regulations and checkpoint restrictions, posing 'public safety risks' to an uncontrollable extent, Fox News ...
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CSK CEO Meiyappans conviction by Mumbai Police will be Indian crickets darkest day Kirti Azad
Former Test cricketer and now BJP Member of Parliament Kirti Azad on Friday said the conviction of Chennai Super Kings CEO Gurunath Meiyappan by Mumbai Police would be darkest day for Indian cricket. Speaking to ANI, Azad said it has to be a new low in Indian cricket that the son-in-law of BCCI president N Srinivasan is involved in betting. Azad, who was speaking after the crime branch of ...
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Content Man City says will not swap players with Man U
Manchester City CEO Ferran Sorriano has said that the club will not exchange their squad with rivals Manchester United, even if given a chance to do so. City wants to improve its current state despite acknowledging that previous manager Roberto Mancini's managerial abilities had served the team very well, the Mirror reports. Sorriano said that the players were skilled enough to retain their ...
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Gujarat Chief Minister Modi launches Ahmedabad edition of The Hindu Business Line
Gujarat Chief Minister Narendra Modi launched the 17th edition of Business Line, the financial daily of The Hindu Group at a glittering function held here on Friday. Observing the evolution of established media from print to electronic to social, Modi described it as a "healthy trend' reflecting popular aspirations. Acknowledging that social media has empowered people like never before, the ...
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Man City CEO expects Pelligrini to deliver five trophies in five years
Manchester City chief executive Ferran Sorriano has said the club expects new manager Manuel Pelligrini to help the team win a trophy each year, including the Union of European Football Association (UEFA) Cup, following the sacking of previous coach Roberto Mancini. The embarrassing defeat at the hands of Wigan Athletic in the FA Cup final and poor management skills, saw Mancini lose his job. ...
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China clears Boeing 787s for commercial service
Beijing, May 24 (Xinhua-ANI): The Civil Aviation Administration of China (CAAC) issued a certification for the Boeing 787 Dreamliner Thursday, a milestone for the 787 to begin commercial service in China. The CAAC presented Boeing with a Validation of Type Certification (VTC), indicating that the design of the 787 Dreamliner is compliant with China's aviation regulations and that China endorses ...
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Kashmir sericulturists reap profits by shifting to bivoltine for better yield
In an effort to revamp the silk industry and reap good profits, the Department of Sericulture in Jammu and Kashmir has shifted to bivoltine sericulture technology. Kashmir silk industry was once holding a significant position in the world due to its superior quality and lustre, but gradually, the industry witnessed a sharp decline. With the recent initiatives undertaken by the sericulture ...
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Top 10 newly discovered species revealed
A global committee of taxonomists - scientists responsible for species exploration and classification - has announced a list of top 10 new species discovered in 2012. An amazing glow-in-the-dark cockroach, a harp-shaped carnivorous sponge and the smallest vertebrate on Earth are just three of the newly discovered top 10 species selected by the International Institute for Species Exploration at ...
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New Russian spacecraft reusable for up to five flights
Russia's new reusable spacecraft being developed by the Energia Rocket and Space Corporation will be able to make up to five space flights, the rocket maker said. The spacecraft's technical design has been finalised but is yet to be officially approved, Energia deputy general designer Alexander Chernyavsky said. The new reusable craft is to replace the Soyuz carrier rocket and is expected to ...
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Condom handout at Russian WWII monument slammed
A prominent Russian lawmaker Friday called for public condemnation of a recent handout of condoms by AIDS activists at an monument in honour of soldiers who died in World War II. "The most serious reaction to such things is not the introduction of new administrative bans, but a sharp condemnation by society," said Olga Batalina, head of the Russian parliament's committee on family ...
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British Open squash Pallikal goes down fighting to World No.2
India's Dipika Pallikal fought hard before losing to local hope Laura Massaro in the pre-quarterfinals of the Allam British Open Squash Championships here. Fifteenth-ranked Pallikal squandered a great start to go down 11-7, 10-12, 9-11, 6-11 against the World No.2 amid cold and wet conditions surrounding the glass court at the KC Stadium here Thursday night. Her loss ended India's challenge in ...
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European golf tour head apologises for using coloured term while referring to Woods-Garcia spat
The head of the European golf tour has offered an apology for using the word 'coloured' during a live television interview in which he was referring to the spat between World No.1 Tiger Woods and Spanish golfer Sergio Garcia. European Tour CEO George O'Grady had said that 'most of Sergio's friends are colored athletes in the United States', the New York Post reports. According to the report, ...
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Virtuous people not happy all around the world
Virtuous people are believed to have happier lives, but a new research has revealed that it depends on where you come from. In countries where antisocial punishment is common and where people commonly justify dishonest behavior, virtuous individuals (measured, for example, by how comfortable people are avoiding a fare on public transport or cheating on their taxes) are not as satisfied with ...
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Russia to spend $8 billion on 2018 World Cup
Russia is expected to spend no more than $8 billion to fund the 2018 football World Cup, a steep fall from the previously estimated $16.6 billion, Deputy Prime Minister Igor Shuvalov said. "All parameters that could have been cut have been cut. The last figure that (Sports Minister Vitaly) Mutko came to me with was 250 billion rubles ($7.94 billion)," Xinhua quoted Shuvalov as saying. The ...
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Seven Cubans to participate in World Judo Masters
Five female and two male Cuban judokas will participate in the 2013 World Judo Masters tournament, to be held in Russia's Tuymen city. The team is led by Idalis Ortiz, 2012 Olympic champion in the over 78 kg category, as well as London 2012 silver medallists Yanet Bermoy (52 kg category) and Asley Gonzalez (90 kg), reports Xinhua. Ortiz is ranked world No.1 in her class, while Gonzales is ...
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EU regulators seek tax transparency from companies
The European Commission said Thursday that it is working on a proposal to require corporate giants with operations in the European Union to publicly report profits, taxes paid and subsidies received on a country-by-country basis. Representatives of the 27 member-states agreed to seek ways to prevent multinationals from avoiding their obligations by channeling profits through subsidiaries in ...
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Former England skipper Illingworth says Fiery Fred Trueman better than Anderson
Former England captain Ray Illingworth has said that although bowling star James Anderson is the best swing bowler in the world now, but his former teammate and Yorkshire legend Fred Trueman was far better. Illingworth's statement comes on the backdrop of the second Test against New Zealand starting at Headingley, where Lancashire cricketer Anderson, on 305 wickets, is expected to cruise past ...
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