Latest Breaking Business News
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GLOBAL MARKETS-Asian stocks fall on Fed policy plan China data looms
Wed Jun 19, 2013 9:28pm EDT * MSCI Asia ex-Japan slips 1.7 pct, Nikkei down 0.6 pct * U.S. Treasury yields hit 15-mth high, underpin dollar * China "flash" PMI due at 0145 GMT By Chikako Mogi TOKYO, June 20 (Reuters) - Asian shares deepened losses on Thursday after U.S. Federal Reserve Chairman Ben Bernanke confirmed market fears that the Fed would begin reducing its stimulus later this ...
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Bridgepoint Education seeks to cut staff
San Diego's Bridgepoint Education launched a voluntary buyout program last week to cut staff on the eve of a critical accreditation decision for company-owned Ashford ...
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Illumina ordered to pay $115 million in patent case
SAN DIEGO -; DNA sequencing giant Illumina has been ordered by a federal court to pay Auburn, Wash.-based Syntrix Biosystems $115.1 million in a patent infringement ...
More Breaking Business News
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Want to entice hotel guests Try birds paragliding
Well aware that travelers have an almost limitless choice for where they'll lay their heads down at night, hotels and resorts in San Diego County are stepping up their game to entice visitors to choose them for an overnight ...
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Tell Sid Public will be offered shares in Lloyds Bank
The prospect of an eventual "tell Sid"-style sale of shares in Lloyds Bank was raised by George Osborne as he claimed Britain's economy had emerged from "intensive ...
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Microsofts Xbox DRM reversal not the first 12 tech mulligans
changed its controversial stance on always-on connectivity and game DRM on Wednesday, a reversal that comes after more than a week of harsh criticism from consumers, press and especially competitors. The move comes just a few months before the console is set to hit store shelves, and is widely-viewed as reactionary. Rival Sony, which priced and further detailed ...
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Microsoft has no plans to revisit Xbox Ones $499 price
Even as the company backtracks on its unpopular game-sharing policy, a company executive tells CNET that it won't budge on the price for the console, some $100 more than the rival PlayStation ...
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John McAfee resurfaces as ranting video star mocks McAfee software
John Mcafee, anti-virus software guru, arrives for a news conference outside of the Supreme Court of Justice in Guatemala City, December 4, ...
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George Osborne readies City for Lloyds sell-off
Royal Bank of Scotland , in a move that could delay the bailed-out bank's return to the private sector.In his annual speech to City grandees at Mansion House on Wednesday night, the chancellor said he was "actively considering options for share sales in Lloyds", in which the government has a 39% stake. Speculation is mounting that a partial sell-off of the state's Lloyds ...
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Nation’s biggest mortgage lenders failing terms of settlement
The nation’s five biggest mortgage lenders have largely satisfied their financial obligations under last year’s $25 billion settlement over mortgage abuses, helping hundreds of thousands of families keep their homes. But four of the five have yet to meet their commitment to end the maze of frustrations that borrowers must navigate to modify their loans, according to a report ...
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Kentucky leaders Urban Outfitters wont sell shot glasses flasks that look like pill bottles
FRANKFORT, Ky. -- Retailer Urban Outfitters Inc. has responded to a multi-state campaign and stopped selling flasks, shot glasses and pint glasses that look like prescription pill bottles, political leaders in drug-plagued Kentucky said Wednesday. The state's top leaders, including Gov. Steve Beshear and Republican U.S. Rep. Hal Rogers, chairman of the powerful House Appropriations ...
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Kim Thompson co-publisher of Fantagraphics Books dies
SEATTLE -- Kim Thompson, co-publisher of influential Seattle-based publisher Fantagraphics Books -- known for celebrated alternative comics, graphic novels and comic strip anthologies -- has died. Fantagraphics announced Thompson's death Wednesday, four months after he was diagnosed with lung cancer. He was 56. Fantagraphics Books has been publishing alternative comics and graphic novels ...
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MediciNova gains 31 percent
I wrote about MediciNova yesterday . Today the market reacted to the news of positive preliminary clinical data for its drug ibudilast, being tested for methamphetamine addiction. Shares of MediciNova surged 31 percent Wednesday, closing at $3.37, up 80 cents for the ...
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Diddy is downright Revolt-ing on TWC
Revolt already has an agreement to launch in around 10 million Comcast homes, as part of a deal Comcast struck with regulators to offer more minority-focused channels. Still, Revolt’s new distribution deal with TWC is a boost to its efforts to get advertisers on board with the music-themed channel. Combs, who has a clothing line and vodka brand, hyped Revolt yesterday at the Cannes Lions ...
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North-south negative equity divide widening
Ratings agency S&P says that 13.5% of mortgage borrowers in north-west England are in negative equity, against 0.9% in London and the ...
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Facebook May Cash In on Vine-Like Vids
Facebook's Instagram May Be Getting Videos Soon ) The social network is hosting a press event at its headquarters Thursday. While Facebook hasn't confirmed what product it will be previewing, it's widely thought that the company will announce a video function for its photo-sharing app Instagram .The video addition is suspected to be similar to Twitter's Vine, a video-sharing ...
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After the Fed—Whats the Markets Next Move
stocks spiraling downward, as the markets adjusted to the idea of a higher rate environment. The 10-year yield reached 2.35 percent, its highest level since March, 2012. The Dow fell 206 points to 15,112 and the S&P 500 was off 22 to ...
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Fed economic statement drives fall on Wall Street
Australia Comments by the chairman of the US Federal Reserve have driven a sharp fall on Wall Street overnight.After the Fed issued its eagerly awaited policy statement, giving an upbeat assessment of the US economy and the labour market, Ben Bernanke said during a press conference that the central bank's stimulus measures may be scaled back later this year.He said the bond-buying ...
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Microsoft backtracks on Xbox One online games policies
Microsoft is pressing reset on policies related to its Xbox One video game console.The company announced it is dropping two major features of its next-generation console: regular online authenticity checks required to play video games offline and restrictions on what players can do with games after ...
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Microsoft reverses course on Xbox One restrictions
The original plan was to have the Xbox One console check in with its central servers at least once a day (and more frequently if users were accessing their account from a different system). If the console were not able to do so, users would not be able to continue using the Xbox ...
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Microsoft Xbox One policy switch makes user forums explode
After the tech giant announces that it's backtracking on its much-derided Internet connection requirement, social media, comment threads, and gaming forums light ...
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Ex-Kleiner partner wants day in court in discrimination lawsuit
SAN FRANCISCO (Reuters) - A high profile sex discrimination lawsuit in Silicon Valley should be taken private via arbitration, lawyers for venture capital firm Kleiner Perkins Caufield & Byers argued on Wednesday, but the plaintiff, former partner Ellen Pao, wants the chance to tell her story before a ...
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Sony spin-off plan off agenda but looms over shareholder meet
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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Analysis Sprint should raise Clearwire bid to avoid Dish tension
NEW YORK (Reuters) - Sprint Nextel Corp should consider raising its offer price for Clearwire Corp or risk being saddled with a contentious relationship with Dish Network Corp, controlled by feisty billionaire Charlie ...
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New bookkeeping rule to priprizese open insurers black box accounts
LONDON (Reuters) - An international bookkeeping regime being unveiled on Thursday will iron out national variants in insurers' "black box" balance sheets although the transition will take several years and the United States will keep its own, very different ...
Saudi Arabia Digest
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Saudi Arabia's massive infastructure drive
Saudi Arabia is in the midst of a major construction boom being implemented and supported by the national government in order to improve infrastructure and living standards in the largest economy in the Arab world.
It was recently announced by the director-general of the Saudi Industrial Property Authority (MODON), Tawfig Fawzan Alrabiah, that a new industrial city would be built in Taif in order to cope with growing demand for industrial land in Saudi Arabia. The Taif Industrial City will in fact be a ‘city within a city’ so to speak, but will measure 11 square miles in size and will function as a fully-fledged industrial city, providing all the infrastructure required in such zones. Read more
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