Latest Breaking Business News
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Appeals court directs Ex-Im Bank to explain rationale for loan guarantee to Air India
WASHINGTON - A U.S. appeals court has upheld a decision by the U.S. Export-Import Bank to finance the sale of 30 Boeing wide-body jets to Indian state-owned carrier Air India in a legal challenge brought by Delta Air Lines to the loan guarantee. The court has however directed the government-run bank to better explain its rationale for providing loan guarantee, which Delta claimed as a ...
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Google renews efforts wipe out child porn images from internet
LONDON - Internet giant Google said it is spending $5 million to wipe images of child abuse off the Internet and another $2 million to create tools to find the images and eradicate them. "We're in the business of making information widely available, but there's certain 'information' that should never be created or found," wrote Jacqueline Fuller, director of Google Giving, in a blog post. ...
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GSK negotiating sale of thrombosis drug and plant to Aspen
DURBAN / LONDON - South Africa's biggest generic drug maker Aspen Pharmacare and its subsidiary Aspen Global Incorporated have made an offer to acquire thrombosis drugs and their associated manufacturing site at Notre Dame de Bondeville, France, from GlaxoSmithKline (GSK). "AGI will acquire from GSK the Arixtra and Fraxiparine/Fraxodi brands and business worldwide, except in China, Pakistan ...
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Carbon trading to begin in Shenzhen in bid to cut emission
BEIJING - China, the world's biggest carbon emitter, is set to launch Tuesday its first carbon trading scheme as a pilot project in the southern city of Shenzhen as part of efforts to cut emissions in its key cities. Carbon emissions trading schemes are meant to encourage companies to reduce their carbon dioxide emissions by setting a limit or a cap, on the level of emission that can be ...
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Rise in transportation costs push up UK inflation to 2.7pc
LONDON - The consumer price index (CPI) inflation increased to 2.7% in May, up from 2.4% in April, mainly due to higher fuel costs pushing up transportation costs particularly airfares, the Office for National Statistics (ONS) said Tuesday. The ONS said the rise was due to a record increase in airfares and higher fuel prices. "The inflation rate has returned to the levels seen between ...
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Yahoo follows Facebook and Microsoft in publishing US govt sought snoop data
Internet corporation Yahoo has followed the league of technological companies in publishing reports about 'snoop data' requests made by the US government. According to the Guardian, Yahoo has revealed that it had received 12,000-13,000 requests, inclusive of criminal, Foreign Intelligence Surveillance Act (FISA), and other requests by the government between 1 December 2012 and 31 May ...
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Parliamentary commission on banking standards reaction in full
major report from the parliamentary commission on banking standards calling for a new law to jail bankers for reckless misconduct, the deferral of bonuses and more measures to foster ...
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G-8 leaders agree proposals on tax avoidance and evasion
The G-8 (Group of Eight - - 7 leading industrialised nations; US, Japan, Germany, UK, France Canada, Italy plus Russia) have agreed on proposals to tackle tax avoidance and evasion that call for new laws to stop businesses from shifting profits across borders, urge greater transparency about company ownership and sharing of ...
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Japanese exports value jumps in May Trade deficit remains in red
See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management ...
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HM Earnings Drop More Than Expected
H&M , the world's second-largest fashion retailer, posted a bigger than expected drop in second-quarter earnings, hit by still sluggish consumer morale and bad weather in its main European market. The Swedish company said it was entering the third quarter with higher inventories than planned and the situation remained challenging in many of its major markets, but sales had got off to a ...
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UK Auditor Agrees Fine And Ban In New York
A division of one of the UK's biggest auditors, Deloitte, has been fined $10m (6.4m) by New York state for its actions in advising Standard Chartered Bank over money laundering. In addition to the fine, Deloitte's Financial Advisory Services arm was also banned for one year from taking new work in the state after officials ruled it did not carry out its duties independently. The ...
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HM sales earnings slump
(20 mins ago) Swedish fashion retailer Hennes & Mauritz, which has stores in Hong Kong, says profits fell by 11 percent in the second quarter due to the strong Swedish krona and increased markdowns of its products. The company said net profit for the March-May period dropped to 4.66 billion kronor (US$720 million) from 5.22 billion a year earlier. Sales for the quarter slipped marginally ...
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Leasing firm CIT orders 30 Boeing 737 MAX planes
Visitors chat in front of models of the 777-300ER (L) and 737-8 MAX passenger planes, with a scale of 1:40, at the Boeing booth on the first day of the China International Aviation & Aerospace Exhibition in the southern Chinese city of Zhuhai November 13, ...
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EADS sticks to defense business mulls options CEO
EAD.PA ) has no plans to give up its defense business but is open to seeking alternatives for parts of it, Chief Executive Tom Enders told a German ...
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Revision of Cypriot bailout terms not likely euro zone officials
BRUSSELS (Reuters) - The euro zone does not intend to change the terms of Cyprus's bailout as requested by Cypriot President Nicos Anastasiades in a letter sent to euro zone leaders and its lenders, three senior euro zone officials said on ...
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European stocks wobble as Fed statement near
LONDON (MarketWatch) -- European stock markets showed mixed moves at the open on Wednesday, with what is likely to be a volatile day ahead as investors wait for the much anticipated monetary-policy decision from the U.S. Federal Reserve. A statement from the Fed meeting is expected after the European markets close, followed by a press conference by Chairman Ben Bernanke. The Stoxx Europe 600 ...
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George Osborne to outline plan for RBS Lloyds
The fate of Britain's two state-controlled banks will become clearer today, with the country’s finance minister George Osborne likely to start the clock ticking for the sale of the government's stakes. Britain's previous government pumped £66bn of public money into Royal Bank of Scotland and Lloyds Banking Group in 2008 to save them from collapse at the height of the ...
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Metals Stocks Gold extends losses as Bernanke update nears
LOS ANGELES (MarketWatch) -- Gold futures fell Wednesday, remaining near one-month lows as the market braced for possible indication by the U.S. Federal Reserve that it will pull back the pace of monetary ...
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Federal Reserve meeting dominates the markets - eurozone crisis live
After weeks of anticipation, Federal Reserve chairman Ben Bernanke will speak about the US stimulus package tonight. Photograph: Manuel Balce ...
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First-rate customer care is key to making your business a success
Customers are the most important asset to your business and looking after them is essential to your success. All businesses, whatever their size, should have a carefully considered customer care plan and treat it as a core value. This means bearing your customers or clients in mind when making decisions and ensuring that they have positive experiences when dealing with your company.Offering ...
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Would the threat of jail be enough to end bankers reckless behaviour
Jail threat for reckless bankers to help clean up system Commission led by Andrew Tyrie recommends jailing bankers for 'reckless misconduct' and enforcing a wait for ...
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Deloitte banned from Wall Street consultancy work
The state of New York announced on Tuesday, that Deloitte, a Big 4 accounting firm, has been banned for a year from accepting Wall Street consultancy work - - in effect from hundreds of financial institutions in New York City and fined $10m for "misconduct, violations of law, and lack of autonomy during its consulting work at Standard Chartered on anti-money laundering ...
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Smithfield CEO could make about $46.6 million from Shuanghui deal
SFD.N ) Chief Executive Larry Pope could receive nearly $46.6 million in merger-related payments as part of a planned takeover by China's Shuanghui International, a securities filing ...
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Asian markets tense before Fed Nikkei outperforms
"It's merely a technical rebound," said Mitsushige Akino, chief fund manager at Ichiyoshi Asset Management. He said that with the market still vulnerable to selling, "most investors want to see the outcome before they take long ...
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UPDATE 1-Aegon cuts average earnings growth target for 2010-2015
Wed Jun 19, 2013 2:54am EDT (Releads with lower average growth target) AMSTERDAM, June 19 (Reuters) - Dutch life insurer Aegon on Wednesday lowered its average growth target for underlying earnings before tax, blaming the low interest rate environment. As recently as June 5, Aegon had stuck to its ambition of increasing underlying earnings before tax by between 7 and 10 percent on average over ...
Honduras Now
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Honduras moving on?
Honduras is one of the poorest countries in Central America with a GDP, adjusted for Purchasing Power Parity, of just $4150, according to the International Monetary Fund. The coup in 2009 and the widespread condemnation and economic instability it created was not part of a sound plan for the development of the country. A Truth Commission is now to be launched however, aimed at putting to rest many unanswered questions surrounding the coup and hopefully secure the respect and support of the international community once more.
When soldiers entered the Presidential Palace on June 28th, 2009 and removed President Zelaya at gunpoint, the act was seen by many at home and abroad as a coup d’état and international condemnation swiftly followed with few countries acknowledging the legitimacy of the interim government. It was widely reported as the first coup in Central America for twenty years, a heady and perhaps shameful accolade for the country to hold. Read more
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