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Bernanke says more positive signs needed before scaling back stimulus
WASHINGTON - Chairman of the Federal Reserve, Ben Bernanke Wednesday said it was too soon to scale back the monetary stimulus and the central bank needs to see further signs of traction before taking a decision. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain ...
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Higher exports fail to plug widening Japan trade deficit
TOKYO - Japan's trade deficit rose substantially more than expected in the month April to 879.9 billion yen ($8.6 billion), which is a 70% jump over the trade deficit during the corresponding month a year earlier, the Finance Ministry said Wednesday.. The deficit, for the tenth consecutive month, was wider than what many economists had forecast. A survey from the Nikkei business daily ...
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Vitamin C offers hope of tackling drug resistant TB
WASHINGTON Adding vitamin C to existing tuberculosis drugs regime could shorten the therapy for drug resistant TB, claims new research findings published in the online scientific journal Nature Communications. The striking discovery, by researchers at Albert Einstein College of Medicine of Yeshiva University, has determined that vitamin C kills drug-resistant TB bacteria in laboratory ...
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IMF warns UK against continuing austerity programme
LONDON In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...
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Labour reforms to top US team agenda on Bangladesh visit
DHAKA - A high level US delegation led by the State Department's Under Secretary for Political Affairs Wendy Sherman will visit Bangladesh this weekend to press for a major overhaul of labour safety regulations following the nation's deadliest industrial accident, an official said Wednesday. The collapse of a nine-storey factory complex housing several garment units outside the capital last ...
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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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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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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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Microsoft launches all-in-one home entertainment system Xbox One
Microsoft has unveiled its latest video gaming console 'Xbox One' which is believed to transform games, TV and entertainment for the 21st century living room. The latest console reportedly promises a vision of the future. According to a report by the Mirror, 'Xbox One' will allow users to turn on the device with words like "Xbox On", and "snap" will allow users to watch two things at ...
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Microsoft unveils new all-in-one Xbox console
Microsoft unveiled a new Xbox console Tuesday that represents a major upgrade on the US-market-leading Xbox 360 model. The president of the IT giant's Interactive Entertainment Business, Don Mattrick, revealed the hi-tech Xbox One entertainment and gaming console during an event at Microsoft's Redmond, Washington, campus. The Xbox One was presented as an all-in-one system for gaming, watching ...
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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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Why Are Homeowners Being Jailed for Demanding Wall Street Prosecutions
May 22, 2013 3:00 PM ET A two-day long housing protest outside the Department of Justice this week has resulted in nearly 30 arrests and several instances of law enforcement unnecessarily using tasers on activists, according to eye-witnesses. The action – which was organized by a coalition of housing advocacy groups, including the Home Defenders League and Occupy Our Homes – called ...
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HPs slumps deepens in 2Q as earnings fall 32 pct
SAN FRANCISCO -- Hewlett-Packard's slump is deepening as the world's largest personal computer maker scrambles to meet the growing demand for more versatile and less expensive mobile devices.A quarterly earnings report released Wednesday provided the evidence of Hewlett-Packard Co.'s deteriorating condition.The results included the seventh consecutive decline in HP's ...
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After Hours H-P shares jump after earnings outlook
SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. shares soared after the computer maker reported second-quarter results and an outlook that topped Wall Street ...
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Target Cuts Full-year Forecast on Disappointing Earnings
Target Corp., like many other retail rivals, was laid low in its first fiscal quarter by cold spring temperatures that discouraged seasonal shopping and caused the chain to underperform by even its own metrics. The Minneapolis company said sales at stores open more than a year declined 0.6% in the three months ended May 4. That's after the retailer in April amended an earlier forecast ...
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J.P. Morgan Chase Boss Keeps Both Jobs
J.P. Morgan Chase Chairman and CEO Jamie Dimon can keep both his jobs after just 32 percent of shareholders voted Tuesday in Tampa, Fla. for a non-binding measure that would have advised the global financial giant to split the roles. Last year, 40 percent of shareholders voted for the measure. In six prior annual meetings where Dimon has been both chairman and CEO, shareholders have been ...
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Letters Paying tax is absolutely a moral issue
Never mind morals, tax is all about the rules , 21 May). A great many ordinary people see payment - or rather non-payment - of tax as fundamentally a moral question. Perhaps it might be talked about as justice or fairness, but it boils down to the same thing. Christian Aid supporters have been campaigning on matters of tax justice for five years.At the heart of their concern is the moral ...
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Google boss calls for a rational and predictable international tax system
Google boss Eric Schmidt, explaining his firm's tax affairs, says: 'Virtually all the American companies have tax structures like this, and UK companies operating in the US do too.' Photograph: Olivia ...
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George Osborne warned by IMF that cuts pose headwinds to growth
George Osborne was on Wednesday urged by the International Monetary Fund to rethink his plans for a 10bn tax-and-spending squeeze this year, as part of a broad based attack on the coalition's economic policies.After a fortnight's fact-finding mission in London, the Washington-based lender warned that the planned package of spending cuts and tax rises would "pose headwinds" to ...
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Whitmans Work Continues Hewlett-Packard Rallies After Earnings Beat Outlook
reported second-quarter earnings that beat the Street's consensus estimate Wednesday, despite falling 11% from a year ago. Earnings per share of 87 cents were above HP's outlook for 80-82 cents and the 81 cents analysts anticipated. Net revenue of $27.6 billion was 10% below the prior year (9% when excluding currency impacts). Despite the declines, HP threw off $3.6 billion in cash, ...
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NJ Cheap Booze Sold as Premium Liquor
New Jersey officials have seized inventory and demanded records from 29 bars and restaurants that allegedly sold low-quality liquor to patrons who thought they were buying premium ...
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HP Earnings Outlook Top Expectations
Hewlett-Packard reported fiscal second-quarter earnings excluding items of 87 cents a share on revenue of $27.58 billion. Analysts were expecting earnings of 81 cents per share on revenue of $28.01 billion, according to estimates from Thomson Reuters. For the fiscal third quarter, HP said it expects earnings of 84 to 87 cents a share vs. expectations of 83 cents a share.For the full year, HP ...
Seattle Feature
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Seattle fixing Mercer Mess
Seattle’s Department of Transport has plans to improve the Mercer Corridor or Mercer Mess as it is known to many residents of the city, Seattle news media have been reporting on the plans for some time, but a groundbreaking ceremony now marks the beginning of the major project.
The Mercer Corridor was built over forty years ago when the city’s transportation needs and traffic volumes were entirely different to present day. Mercer Street is a primary artery for the city of Seattle and over 80,000 people drive along it every day, but because of increased traffic and inefficient infrastructure, major bottlenecks occur at peak rush hour and limit access to the South Lake Union area, the Seattle Waterfront, the port, major highways and the Seattle Center. Read more
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