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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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HNL cancer drug trial discontinued by Pfizer
NEW YORK - Pharma major Pfizer has discontinued the development of cancer candidate inotuzumab ozogamicin, which is part of a class of therapies called antibody-drug conjugates (ADCs), in the haematological cancer non-Hodgkin lymphoma after it failed to show benefit in overall survival during phase III trials. Pfizer has notified the study investigators and appropriate regulatory authorities ...
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Merger pact by GrubHub and Seamless to stave off rivals
WASHINGTON - GrubHub Inc. and Seamless North America LLC, two of the biggest online services for food-delivery in the U.S., have entered into a definitive agreement to combine their companies to take on rivals in the growing market for online meal orders. The merger will create a combined company well positioned to drive more orders to restaurants, deliver a better experience for hungry ...
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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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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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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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US drugmaker Actavis buying Warner Chilcott in $8.5bn deal
WASHINGTON/ DUBLIN - Actavis Inc, the largest US generic drug maker by market value, is acquiring Dublin-based Warner Chilcott in a deal worth $8.5billion (5.6billion pounds) including $3billion net debt, to create the third-biggest specialty pharmaceutical company in the country. Under the deal, Actavis, which itself has been the subject of bid speculation, would be offering $5billion in ...
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Morgan Stanley India to sell wealth management arm to StanChart
MUMBAI - The UK based Standard Chartered (StanChart) Monday announced plans to acquire the Indian private wealth management business of US multinational financial services firm Morgan Stanley for an undisclosed amount as part of plans to expand operations. The acquisition is subject to regulatory approvals. "Standard Chartered India has agreed to acquire Morgan Stanley's onshore private ...
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Bank of Japan may seek to ease bond market jitters policy seen on hold
Reuters © Bank of Japan Governor Haruhiko Kuroda arrives at the G7 Finance Ministers meeting in Aylesbury, southern England May 10, 2013. REUTERS/Alastair ...
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Stock to watch Hewlett-Packard a bargain despite recent price run-up
: After enduring a roller-coaster ride, shares of the Palo Alto, Calif.-based personal computer giant are basically flat over the past year. Its stock, however, has been roiled in recent years by a revolving door of chief executive officers as its personal computer and printing businesses continued to face competition from smartphones and tablets. Meg Whitman, who took over as CEO in late 2011 ...
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Alexander What TV system for a digital age
Q: If you were to start from scratch with a TV system in your home, how would you do it? We subscribe to Comcast's very basic programming level but are considering alternatives, including smart TVs that can display programs available online through our Mac Pro laptop. We want the capability of receiving live network news broadcasts as well as a few select programs such as PBS series and ...
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IMF urges Treasury to speed up sale of Lloyds and RBS
Lloyds Banking Group was escalating on Tuesday night amid reports that the International Monetary Fund is urging the Treasury to accelerate its disposal of the 65bn stakes in the two bailed-out banks.As part of its annual health check on the UK economy, the Washington-based fund is said to be telling the government that disposal of the share stakes should be a priority.Hopes of a sell-off of the ...
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First Round Of Xbox One Vs. PS4 Goes To Microsoft
and Microsoft have had a chance to give us a first look at their new consoles, and I'm handing this first round to Microsoft. First, the obvious point. Sony did not show us a console, Microsoft did. Point Microsoft -- we know what we're talking about now. The rest of the set up a bold new vision -- broad strokes all around, but impressive partnerships and a much more thorough look at ...
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Going to SF Super Bowl L
The Super Bowl 50, in 2016, will be in the San Francisco Bay Area, and the NFL championship will go to Houston the following year, the league announced Tuesday. Team owners voted for the 49ers' new stadium as host of the big game. The facility, in Santa Clara, Calif., is scheduled to open for the 2014 season. San Francisco beat out South Florida, which was stymied in its bid to stage an ...
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Bernanke Expected to Deliver Dovish Message
Ben Bernanke is expected to maintain his dovish tone when he speaks to Congress Wednesday, and he is likely to dispel any notion that the Fed is ready to cut back on its easing policy. The markets have been speculating the Fed could start to gradually cut back on its $85 billion monthly bond buying program, and that view has been furthered by some hawkish Fed officials who would like to see ...
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ESPN Cutting 300-Plus Jobs Source
Walt Disney 's most profitable unit, is cutting 300 to 400 jobs across the company and closing a small Denver office, a person with knowledge of the cuts said. The job cuts, comprising 4 to 6 percent of ESPN's staff of 7,000, include open positions that will not be filled, said the source, who asked not to be named because the information is not public.But ESPN will continue hiring for ...
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Xbox One moves Microsoft closer to living room hub
The next-generation gaming console from the software giant is about much more than gaming. It should help Microsoft realize its vision of being at the center of consumer ...
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Saks shares rise on report it hired Goldman for strategic options
They closed up 11.3 percent at $13.67 in regular trade, giving Saks a market value of more than $2 billion. Before the report, shares rose as high as $13.55, their highest level in five years after the retailer reported better than expected sales in the first ...
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Is Sony un-Japanese enough to entertain change
TOKYO (Reuters) - Few foreign activist investors have made much headway in forcing change in Japan, where a conservative corporate culture favors long-standing ties with banks, business partners and workers rather than shareholders seeking ...
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Fed officials dampen talk of imminent bond buying cutback
NEW YORK/FRANKFURT (Reuters) - Two senior Federal Reserve officials on Tuesday played down the chances that the U.S. central bank would signal a readiness to reduce its bond buying at its meeting next month, dampening speculation the Fed's ultra-easy monetary policy might end ...
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Disney-owned ESPN cutting hundreds of jobs source
(Reuters) - ESPN, the sports channel that is Walt Disney Co's most profitable unit, is cutting 300 to 400 jobs across the company and closing a small Denver office, a person with knowledge of the cuts ...
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Lorillard Adds $500 Million to Share-Repurchase Program
Lorillard Inc. (LO) has authorized an additional $500 million in share repurchases under the tobacco maker's buyback program, a move that doubles the amount of stock the company can buy.Buybacks are one of the greatest drivers behind the tobacco industry's profitability gains, as cigarette volumes have declined for years as fewer consumers smoke. Along with price increases and ...
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ADR Shares End Mostly Unchanged Ahead of Bernanke Testimony
International companies trading in New York closed mostly unchanged Tuesday ahead of testimony from Federal Reserve Chairman Ben Bernanke.The Bank of New York index of ADRs was little changed at 142.66.On Wednesday, Mr. Bernanke is scheduled to testify before Congress, and the minutes of the most recent meeting of the Fed's monetary-policy committee are to be released.On Tuesday, speeches ...
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Ecuador Report on Mining Reform Debate Due Next Week
QUITO, Ecuador – The economic committee of Ecuador's National Assembly expects to release a report next week on the first debate of a bill to reform the country's mining law.Approval of the bill is expected to pave the way for several large-scale mining contracts in Ecuador."We expect to have the report for the first debate on Thursday [May 30]," Oswaldo Larriva, ...
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