Latest Breaking Business News
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Salzgitter Warns High Costs Will Continue to Depress Earnings
German steelmaker Salzgitter AG (SZG.XE) Thursday warned that high commodity and energy prices will continue to depress its earnings in coming months as demand in much of its European core market remains muted due to the economic and fiscal crisis in the euro zone.Speaking to shareholders at the company's annual general meeting, Chief Executive Heinz Joerg Fuhrmann said that steel demand in ...
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ECB seeks new tools while Fed toys with exit
PARIS/WASHINGTON (Reuters) - The European Central Bank is looking into expanding its range of policy tools, while the U.S. central bank is mulling scaling back its support measures, highlighting the contrasting fortunes between the world's two biggest economic ...
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5.23.13 TD kicks off Bay Street earnings parade
set the tone for Canada’s banking season today with a modest profit rise and plans to buy back 1.3% of its shares. The first of Canada’s big banks to report earnings, TD Bank Group pretty much met analysts’ expectations with a 1.8% profit increase. Net income for the period ended April 30 climbed to $1.72 billion, or $1.78 a share, from $1.69 billion, or $1.78, a year ...
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Student debt repayment options offer hope
(MoneyWatch) The statistics are alarming. Student borrowing, which has ballooned 300% in less than a decade, now stands at $1.1 trillion. Worse, roughly one in 10 borrowers has fallen into default. Defaults not only burden cash-strapped borrowers with a plethora of penalty fees. They can ruin a young adult's credit rating, making it virtually impossible for him or her to buy a house or a ...
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Turn off Windows 8 with one click
(MoneyWatch) People have complained about Windows 8 since the day the new operating system shipped. At the top of the list is the absence of any start button. In another ...
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Celeb housing Ellen buys Drew sells Hugh Hefner on the move
(MoneyWatch) Hollywood's rich and famous have been making big moves in real estate the past few weeks. It seems like every day a different celebrity is spending millions of dollars on a new home. It must be these low interest rates.Ellen DeGeneres bought a super-pricey property, while Hugh Hefner gifted his new wife a new home and Jennifer Lopez finally has a place in the Hamptons for the ...
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Global Stocks Plunge After Japan Selloff
Morning Business Memo… Wall Street may be in for a wild ride today after a sharp retreat for stocks in Japan. US stock futures dropped after the Nikkei index in Tokyo plunged 7.3 percent overnight, its worst one-day loss in more than two years. Global stock markets are in retreat, hammered by a one-two punch. The first blow was struck when US markets turned from gains to losses after ...
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US STOCKS-Futures fall on stimulus plan concerns China data
Thu May 23, 2013 7:46am EDT * HP jumps after raising 2013 outlook * China manufacturing data shows contraction * Futures off: Dow 101 pts, S&P 14.2 pts, Nasdaq 25.5 pts By Chuck Mikolajczak NEW YORK, May 23 (Reuters) - U.S. stock index futures fell on Thursday, putting the S&P 500 on track for its first daily back-to-back declines in a month, amid investor concerns the U.S. Federal Reserve may ...
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Investec slides after earnings miss
Johannesburg - Shares of Investec drop 2.5 percent to 70.9 rand after the South African investment bank and asset manager's full-year earnings fall short of lofty market ...
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Microsoft Surface Pro a device of many talents
mystery press conference in Los Angeles on 19 June last year. Indeed, it was something of a shock, because for the first time, Microsoft was competing against its biggest customers: Windows PC suppliers such as Acer, Asus, Dell, HP, Lenovo, Samsung and ...
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Post Office workers to strike for fifth time since Easter over closure plans
Customers encounter locked doors at a Post Office in Newport during a strike on the Tuesday after the first May bank holiday. Photograph: Tim ...
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Qinetiq could sell US business after defence cuts lead to profit fall
- the business often said to be the inspiration for the spy's weapons expert Q - does not appear to be as successful.Full year underlying profits up 6% to 152m, with a positive performance from its UK services business. But defence budgets are under pressure worldwide, with possible contract delays and modifications, especially in the US, where Qinetiq's services business saw profits ...
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Concerns over underlying health of UK economy as 0.3 growth confirmed
Stockpiling by British businesses accounted for much of the growth in the UK economy in the first three months of the year, adding to concerns that its underlying health remains weak.GDP growth was confirmed at 0.3% by the Office for National Statistics after inventories increased by 0.4%.The ONS said business investment, a key indicator of the economy's wellbeing, fell 0.4% and consumer ...
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Does Asia Slump Signal US Correction
: "I think I'd be more likely to be buyer than a seller. First of all, markets correct from time to time. That's natural whether it's in Japan or over here." "We want the Fed to taper because that means the economy is getting better," Keon added, saying the underlying economy is "stronger than people think" because the fiscal drag of the tax increases ...
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Housing Hype Is Overblown Pros
Housing is good but not great, and unlikely to fulfill Wall Street's expectations that it will be a leading force in a robust recovery, according to a group that is one of industry's most prominent voices. Despite data points that in some cases are at multi-year highs, Robert Shiller, Karl Case and David Blitzer believe there are multiple headwinds that will keep a lid on housing ...
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Recessions Hurt but Austerity Kills
An international study on recessions and governments' responses to them has found that cuts to healthcare systems prompted by fiscal austerity are making matters far worse--for both governments and society. David Stuckler, a sociology professor at Oxford University and co-author of the book "The Body Economics," told CNBC on Thursday that responses to recessions had not only been ...
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Warning signs for China Fed hints at curbing stimulus
LONDON (Reuters) - Chinese factory activity shrank in May for the first time in seven months, overshadowing signs that the euro zone's downturn tempered slightly in May, business surveys showed on ...
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Feds Bullard QE Most Effective Stimulus When Rates near Zero
The Federal Reserve's policy of asset purchases is still the most effective way to provide additional monetary stimulus when interest rates are close to zero, and the central bank should stick with its current policy, St. Louis Fed chairman James Bullard said Thursday.Mr. Bullard reiterated his belief in using unconventional policy measures, in a speech that assessed various options for ...
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UK regulator fines JPMorgan 3 million pounds
LONDON – Britain's Financial Conduct Authority (FCA) said it has fined U.S. bank JPMorgan 3.08 million pounds ($4.6 million) for being unable to show it was giving clients the right advice. The FCA said on Thursday the failings were not corrected until the watchdog brought them to the firm's attention in the course of its wider review of wealth management firms. "No matter ...
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UMW Holdings to Add to Drilling Rig Fleet With $223 Million Purchase
UMW Holdings Bhd (4558.KU), Malaysia's state-backed industrial conglomerate, said Thursday that its unit has signed a pact with S.D. Standard Drilling PLC to buy a jack-up drilling rig for $223 million.The rig is currently being built and is expected to be ready for delivery in May 2014, UMW said in a statement.The new rig will add to UMW Oil & Gas's current fleet of four offshore ...
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VTB in Talks to Exit Rosbank
Russia's VTB Bank (VTBR.RS) said Thursday that it is in talks about exiting French Societe Generale SA's (GLE.FR) Russian unit, whose chief was arrested last week for allegedly taking a bribe."We are in talks about exiting Rosbank. This is not a strategic investment for VTB. However, the terms and conditions of any deal will depend on market conditions," VTB, which holds an ...
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LONDON MARKETS U.K. Stocks Slide As Miners Drop On China Data
LONDON – U.K.'s benchmark FTSE 100 stock index retreated from a 13-year high on Thursday, with resource firms adding pressure after disappointing Chinese manufacturing data fueled worries about growth recovery in the Asian nation.The FTSE 100 index slumped 1.9%, after climbing to the highest close since December 1999 on Wednesday.Mining firms were among biggest decliners, after ...
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Gazprom Tenders to Drill 6 Oil Wells at Iraqs Badra Field
Russian state oil producer OAO Gazprom Neft (SIBN.RS) has issued a new tender to drill six oil wells at the Badra oil field in eastern Iraq, the company said on its website.Gazprom has set June 13, 2013 as a closing date for receiving offers.The Gazprom consortium, which includes South Korea's Gas Corp. (036460.SE), Turkish Petroleum Corp. or TPAO, and Malaysia's Petronas, plans to ...
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GM recalling some 27K Cadillac SUVs due to concerns wheels can fall off
DETROIT General Motors Co. is recalling more than 27,000 Cadillac SUVs worldwide because the wheels can fall off. The company says the recall affects the 2013 Cadillac SRX with 18-inch wheels. Canadian safety regulators say the wheel nuts may not have been tightened enough at the factory. GM says the problem hasn't caused any crashes or injuries, and no wheels have fallen from vehicles. ...
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Nearly Free Electric Car Leases in a State Near You
(Image credit: Toshifumi Kitamura/AFP/Getty Images) Accustomed to their gas-guzzling companions, many Americans are hesitant to buy an electric or hybrid vehicle. But dealers and government incentives are luring drivers into the fold. John O’Dell, senior green car editor for Edmunds.com, has leased a Nissan Leaf with his wife for the last two years. He said he is not sure he would lease ...
Mexico Feature
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Mexico has more to it than drugs and immigration
As Mexico’s image suffers damage abroad due to increasing levels of violence related to the drug crack-down by government, it may be helpful for Mexicans to remember that there is more to their country than drugs and immigration problems with the US. Some facts may be surprising and even shocking, especially to foreigners.
Mexico has been in the news frequently of late as the government carries out a crack-down on drug cartels and organized crime, the country’s murder rate is up, journalists have been killed for investigative reporting on drug gangs and our image internationally has generally been diminished by the tunnel vision of international news providers. Read more
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