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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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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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Chidambaram says U.S. Federal Reserves statement misunderstood calls for calm
Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves. Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor ...
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At midday Wall Street pares losses TSX still hurting
U.S. stocks and bonds were little changed on Thursday, with equities rebounding from what traders considered an excessive drop on Wednesday, though concerns remained over the pace of global economic growth.The midday strength in U.S. equities bucked a worldwide trend of weakness. European shares ended down 2 per cent while Japan plummeted 7.2 per cent on weak data from China and ...
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Man who pretended to be member of Walt Disney family arrested
SANTA CLARITA, Calif. - Authorities say a man has been arrested after claiming to be a member of the Walt Disney family and giving away invalid Disneyland passes.Los Angeles County sheriff's officials say the man called himself "Stephen Disney" and had a fake driver's license and tax forms that falsely claimed income from the Walt Disney Corp.The statement says he gave ...
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Unemployment aid applications fell to 340000 last week
WASHINGTON - The number of Americans applying for unemployment benefits fell 23,000 last week to a seasonally adjusted 340,000, a level consistent with solid job growth.The less volatile four-week average ticked down just 500 to 339,500, the Labor Department said Thursday. That's close to the five-year low of 338,000 reached during the first week of May. The four-week average is 9 percent ...
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Market Extra Market carnage underlines dangers of overcrowding
NEW YORK (MarketWatch) -- Japan's stock market plunge, a sharp rebound by the yen, and even the temporary whack taken by major U.S. indexes on Thursday all help demonstrate what happens when trades get too ...
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Energy Stocks Energy stocks decline Marathon asset sale fizzles
-0.34% declined 0.4%. Marathon on Thursday said a deal to sell its 20% stake in the Canadian oil sands fell through and talks with a potential buyer have ...
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Mothercare chief executive insists recovery on track despite fall in sales
Mothercare is crawling towards a recovery as chief executive Simon Calver insisted the UK company was on target to break even within two years.The mother and baby goods retailer saw UK sales drop 11% to 500m last year. It reported a loss of 21.7m, a slight improvement on the 24.7m loss recorded in the previous twelve months.The business turned in an impressive international performance, with ...
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United Utilities bucks trend as FTSE 100 suffers biggest daily drop for a year
added 6p to 787.5p after the water company said it would raise its final dividend by 7.2% despite a 9.3% fall in full year profits, which was due to a decrease in deferred taxation credit.Peter Atherton at Liberum Capital said the numbers were in line with market ...
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Falling investment poses another problem for Osborne
Ed Balls and Chuka Umunna chose their moment well. On the day that official figures showed that capital spending fell by 0.8% in the first three months of 2013, Labour released figures showing that Britain devotes a smaller share of national income to investment than any other G8 country. What's more, only Italy has seen a bigger fall in the investment share of GDP since 2010.George Osborne ...
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What Microsofts Clever New Im A PC Im An iPad Spot Says About The Company
's largely unsuccessful 8-month campaign to market Windows 8 and its new Surface tablets got a reboot at last with a new spot that takes direct aim ...
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Salesforce Earnings Climbing Costs Can Offset Revenue Growth
Salesforce.com is set to announce its Q1 fiscal 2014 (ending April 31, 2013) earnings on May 23. The company provides enterprise cloud computing and social enterprise solutions across businesses and is the market leader in cloud customer relationship management segment. We expect it to continue to post double digit growth driven by the growing adoption of its Sales Cloud and Service Cloud ...
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Wagging the Dog Why Fed Fears Wall St.
the equity market has been a furtive goal of monetary policy--generally not part of Open Market Committee discussions but never far from mind. That surreptitious relationship came further into the open at the April 30-May 1 meeting, when Fed members discussed Wall Street expectations for the historically high level ...
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Three More SAC Executives Subpoenaed
Three more senior executives at SAC Capital Advisors have received subpoenas to testify before a grand jury in the government's investigation into alleged insider trading at the hedge fund, Dow Jones reported. ...
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Retailers Sue Visa and MasterCard
MasterCard on Thursday, breaking off from a proposed $7.2 billion settlement reached last year over fees to process credit-card transactions.The lawsuit was filed in the U.S. District Court in Manhattan on behalf of many retailers that opted out of receiving proposed damages from the settlement.That settlement, pending in federal court in Brooklyn, would end litigation on behalf of merchants ...
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ISS Settles Charges With SEC
Institutional Shareholder Services, a leading proxy advisory firm, will pay $300,000 to settle civil charges that one of its employees shared sensitive nonpublic information about clients' votes in exchange for favors, ...
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The Rise of the Cyberadvisor
Betterment , Columbia finance professor Geert Bekaert is teamed with industry professionals with distinguished track records. For all the doomsday headlines, how much of a threat the sites pose to traditional advisors remains to be seen. "That's great for the smaller account," said Gordon Peterson, an investment manager in Dallas. "It's taken off particularly with young ...
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Microsoft to take Bing deeper into Windows Blue Xbox One
Microsoft's Bing is morphing from a "mere" search engine into more of a service that will power next-generation devices -- Windows Blue PCs and tablets, as well as the Xbox ...
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Ply Gem shares rise in NYSE debut
PGEM.N ) rose as much as 14 percent in their market debut, valuing the company at about $1.55 billion, as investors tap into companies catering to the recovering U.S. housing ...
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Carrefour falls back on doubts over emerging market retreat
CARR.PA ) shares dropped over 5 percent on Thursday, reversing gains from the day before, amid concerns the world's No. 2 retailer is pulling out of too many high-growth markets after the surprise sale of a Middle Eastern ...
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St Louis high-speed rail link to Chicago breaks ground
St Louis, Chicago and the state governments of Missouri and Illinois have taken the first step in constructing the Mid West Hub of high-speed rail connections with the building of a high-speed line between the two cities which will quadruple capacity and spur economic development, according to proponents of the high-speed rail line.
Work on the high-speed rail link between St Louis and Chicago has begun, signalling the first step of a mammoth project that is intended to ultimately see Chicago become the hub of a national high-speed railway network that will change the nature of overland transport in the country. Read more
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