Latest Breaking Business News
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JPMorgan investors on edge over vote on Dimon what if they win
JPMorgan Chase & Co CEO Jamie Dimon testifies before the House Financial Services hearing on ''Examining Bank Supervision and Risk Management in Light of JPMorgan Chase's Trading Loss'' on Capitol Hill in Washington June 19, ...
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GLOBAL MARKETS-Dollar firms as suspense builds Asia shares dip
Tue May 21, 2013 12:28am EDT * Dollar index firmer, but down from near 3-year high * MSCI Asia Pacific ex-Japan slips 0.2 percent By Masayuki Kitano SINGAPORE, May 21 (Reuters) - "Will he or won't he?" is the question investors want answered at Wednesday's Congressional testimony by Federal Reserve Chairman Ben Bernanke, as suspense builds on whether the Fed will soon start ...
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Is China Sending Its Treasurys Packing
Reports that China may step up the diversification of its huge foreign exchange reserves is not great news for U.S. Treasurys, already under pressure from talk about an easing in the Federal Reserve's bond-buying program. But, the fall-out from such a move is likely to be limited, analysts say. The body that manages China's currency reserves has set up an operation in New York to ...
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What Most Entrepreneurs Get Wrong
The economic boom in Asia over the past two decades has inspired people to take risks, develop new businesses and tread on unbeaten paths. But as these entrepreneurs set about to do something different in an attempt to capitalize on their region's unprecedented prosperity, they stumbled and fell only to rise again and go on to be successful. Some of these risk takers spoke to CNBC sharing ...
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iGate sacks chief executive Murthy after sexual harassment claim
(Reuters) - The board of iGate Corp, an information technology outsourcing services provider, has sacked Chief Executive Officer Phaneesh Murthy following an investigation into a claim of sexual harassment, the company said in a ...
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NewsWatch New Xbox may keep Microsoft in the game
Microsoft is expected to unveil a new Xbox on Tuesday. Investors have been bidding up shares of videogame firms, but the market has shifted dramatically in recent ...
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ASIA MARKETS Hong Kong Sydney Stocks Fall Tokyo Seesaws
HONG KONG – Australian stocks declined, and Hong Kong equities pulled back from a three-day winning run on Tuesday, weighed by overnight losses on Wall Street and uncertainty over U.S. monetary policy.The S&P/ASX 200 dropped 0.7% in Sydney, and the Hang Seng Index gave up 0.2% in Hong Kong.Japan's Nikkei Stock Average was up 0.1%, but struggling for direction after a sturdy rally ...
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Hubert White store remodeling bodes well for downtown retail boom
Bob White stood in the Ermenegildo Zegna area of the recently renovated Hubert White men’s store in the IDS Center. He has noticed brisker business as more people are moving into the upscale apartments being built ...
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U.S. Europe ready to settle Chinese solar cases
HONG KONG - The Obama administration and the European Union have each decided to negotiate settlements with China in the world's largest anti-dumping and anti-subsidy trade cases involving China's roughly $30 billion a year in solar panel shipments to the West, officials and trade advisers in Beijing, Brussels and Washington said. The plan that is starting to take shape would ...
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Microsoft To Reveal New Xbox Features
Microsoft currently sitting in the top spot of video game console sales for the 28th consecutive month according to retail tracking firm NPD Group. Total retail spending for the Xbox 360 platform in April — which included hardware, software and accessories — topped $208 million dollar. However, the company is already looking ahead to the next generation. "Looking forward to ...
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Tesla Motors may repay U.S. loan by Wednesday CEO
CEO of Tesla Motors and SpaceX Elon Musk speaks during a session titled ''To Infinity and Beyond: Jeff Skoll talks with Elon And Kimbal Musk'' at the Milken Institute Global Conference in Beverly Hills, California April 29, ...
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Apple called international tax dodger
A congressional report said U.S. technology giant Apple was using gaps in international tax laws to avoid paying tax on tens of billions of dollars. The report says Apple had moved $74 billion beyond the reach of the IRS from 2009-12 using a variety of loopholes to do so, some of which are used to declare tens of billions of dollars were earned unattached to any country. Apple seems to claim ...
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Occupy Wall Street Challenges DOJ On Foreclosure Crisis
I don't know if Occupy Wall Street has been quiet lately or if I have just not been paying attention. Nonetheless, they have something going on right now. ...
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Retailers in the Headlines but Focus Is on the Fed
J.P. Morgan are both in the hot seat for different reasons Tuesday morning. J.P. Morgan holds its shareholder meeting in Tampa at 10 a.m., and the big focus will be on whether investors vote to allow Chairman and CEO Jamie Dimon to retain both ...
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A Silver Warning for Gold
for more than 18 months. Silver's fall below the critical long term support level near $26.50 an ounce gave early warning of the recent collapse in gold. (Note chart scale is shown in cents) There are two key features on the silver chart. The first feature is the relationship in ...
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Sprint gets waiver from Softbank permitting discussions with Dish
(Reuters) - Wireless service provider Sprint Nextel Corp received a waiver from SoftBank Corp on various provisions of their merger agreement permitting it to engage in discussions with Dish Network ...
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Kerry visits Oman for arms deal signing talks on Syria Mideast
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 ...
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Goldman Sells ICBC Stake for $1.12 Billion
Goldman Sachs Group Inc. (GS) has sold its remaining stake in Industrial & Commercial Bank of China Ltd. (1398.HK) for around US$1.12 billion, exiting an investment it made in China's biggest bank seven years ago, a person familiar with the matter said Tuesday.The U.S. bank sold ICBC shares at HK$5.50 each, the person said, at the top end of the price range of ...
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Goldman Sold Remaining ICBC Stake at HK$5.50Share Top End of Range -Source
Goldman Sachs Group Inc. (GS) has sold its remaining stake in Industrial & Commercial Bank of China Ltd. (1398.HK) for around US$1.12 billion, exiting an investment it made in China's biggest bank seven years ago, a person familiar with the matter said Tuesday.The U.S. bank sold ICBC shares at HK$5.50 each, the person said, at the top end of the price range of ...
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Bank of Communications Appoints President Niu Ximing as Chairman
Bank of Communications, China's fifth largest lender by assets, has appointed its President Niu Ximing as its new chairman, the bank said in a filing to Hong Kong Exchange on Monday.Mr. Niu will step down as vice chairman of the board, and will replace former Chairman Hu Huaibang who resigned and was named Party Secretary of China Development Bank Corp. last month, according to the ...
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Coca-Cola the new global peacekeeper
Coke and Leo Burnett have unveiled a new initiative to break down barriers and create simple moments of happiness between two nations at odds – India and Pakistan. The initiative, ‘Small world machines,’ provides a live communications portal through a Coca-Cola vending machine for Indians and Pakistanis to interact with and engage across country borders. In March, the ...
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Japan finance minister wants BOJ to have thorough dialogue with government bond market
Reuters © Japan's Deputy Prime Minister and Finance Minister Taro Aso smiles as he adjusts his headphones during a seminar at the Asian Development Bank's (ADB) 46th annual board meeting in Greater Noida, on the outskirts of New Delhi May 3, 2013. REUTERS/Adnan ...
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ASX falls at open after Wall St closes lower
UPDATE 8.35am: The Australian sharemarket has opened lower after Wall Street closed in the red overnight.At 8.30am, the benchmark S&P/ASX200 index was down 34.2 points, or 0.7 per cent, at 5174.8, while the broader All Ordinaries index was down 33.8 points, or also 0.7 per cent, at 5151.6.More to ...
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Supreme Court to review Sarbanes-Oxley case
WASHINGTON - The Supreme Court will rule on the reach of the 2002 Sarbanes-Oxley investor-protection law, agreeing to decide whether the law's whistleblower protections cover the employees of a publicly traded entity's contractors. The justices Monday said they will hear an appeal from two former employees of a privately held company that provides investment advice and management ...
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Acadia raises $115 million
raised $115 million in gross proceeds from its secondary public offering. The biotech company said it sold $9.2 million shares, including 1.2 million sold under a fully exercised option to buy additional ...
Tokyo in Focus
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Tokyo's new international airport making waves
Haneda airport was renamed Haneda International Airport with the opening of the new International Terminal, which will see several million passengers pass through it each year as the airport regains its status as a global airport with connections to major cities across the world.
When Haneda first opened in 1931 it was the largest civilian airport in the whole country and during the Second World War became a major US Air Base after the invasion of Japan and the country’s surrender. Read more
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