Latest Breaking Business News
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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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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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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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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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Lloyds says wont need to issue new equity CoCos
LONDON (Reuters) - Lloyds Banking Group said on Wednesday that it would be able to meet new capital requirements without having to issue new equity or contingent capital, after Britain's financial regulator updated the bank on its position.Lloyds said it was confident in its capital position and re-affirmed previous targets for its core tier 1 ratio."Our strong capital position enables ...
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David Camerons Today programme interview Politics live blog
Rolling coverage of all the day's political developments, including David Cameron's Today programme interview, Nick Clegg's speech and Ed Miliband's speech at a Google ...
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How best to effectively sell your product
As a new business, breaking into a market and trying to encourage people to buy your product can be a daunting task - and, yet, it's your business's lifeline. How you approach sales is therefore pivotal when it comes to making your startup business a success.You must think carefully about the sales journey and how you are going to go about getting your product to market. Ultimately, ...
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Co-operative myths all co-operatives rotate jobs
Staff rotation plays an important role in many lines of work. But, contrary to popular belief, not all co-operatives rotate. Photograph: Tom ...
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Apple shifted golden goose and 64 of 2011 income to Irish shell corporation
Apple shifted "golden goose" and 64% of 2011 income to Irish "shell corporation" By Michael Hennigan, Finfacts founder and editor May 22, 2013 - 7:51 AM ...
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Microsoft Reveals The Xbox One
Microsoft promises the Xbox One will be more than just a game console, but a "living room" with a TV tuner and cable box. Users will be able to switch between watching TV and gaming instantly through the Kinect ...
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Kids Turn to Twitter Shun Facebook Drama
Facebook is losing market share to its quick-messaging rival. Research from the think tank Pew Research Center revealed that 24 percent of online teens use Twitter now, up from 16 percent in 2011. Of the 802 teens aged 12-17 that were surveyed by Pew, 80 percent said that they used social networking sites and one in four online teens are using Twitter, a social network previously perceived as ...
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EU Casts Wider Net for Bank Bonuses
EU regulators confirmed on Tuesday that they will cap bonuses of bankers earning more than 500,000 euros a year and added other conditions to make the pay ceiling harder to smash. The headline figure was leaked last Friday, triggering warnings by banks in the European Union that they may lose staff to other parts of the world, and that London, the bloc's top financial centre, could be ...
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EU Leaders Battle Over Tax Avoidance
Growing concern in Europe about aggressive tax avoidance by high-profile corporations such as Amazon, Google and Apple looks set to steal the agenda at the European Union summit in Brussels. Julia Chatterley has more from the ...
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A new social platform for Microsoft channel partners
Microsoft partner network (MPN) is Microsoft's 'official'body for channel partners. A Microsoft partner is one of the 640,000 companies worldwide that build, sell, or consult with Microsoft products. Most of these companies operate in the small-medium enterprise (SME) space, selling services related to Azure, .NET and SQL, Office 365, and SharePoint. The MPN isn't a revenue ...
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Tax Dodgers Could End Extreme Poverty Twice
People who avoid paying tax by stashing their money in tax havens could have contributed enough to end extreme poverty across the world twice over, a charity has ...
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Lloyds Expects to Meet Additional Capital Requirements
Lloyds Banking Group PLC (LLOY.LN) said Wednesday it expects to meet its additional capital requirements without issuing further equity or additional contingent capital securities, citing the outcome of the Prudential Regulation Authority's (PRA) considerations of the 39% U.K. government-owned bank's capital position.MAIN FACTS:-Says can met requirements through its capital generative ...
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Freeport Indonesia CEO Uncertain When Mining Operations to Resume
PT Freeport Indonesia is uncertain when it will restart operations at its mines in the eastern province of Indonesia after a tunnel collapse in an underground training room last week killed 28 workers, its Chief Executive Rozik Soetjipto said Wednesday."At this moment we [haven't decided] when to resume operations. We are reviewing the safety at all mines, both open pit and ...
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Australia Mining Magnates Lose A$11 Billion as Commodities Fade
After riding the resources boom into the realms of Australia's ultra rich, the wealthiest mining tycoons Down Under have lost more than 11 billion Australian dollars (US$10.77 billion) from their fortunes over the past year as commodity prices have fallen.Hardest hit is the richest Australian of all time, mining heiress Gina Rinehart, with slumping iron-ore prices gouging more than A$7 ...
Focus on Bombay
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Mumbai as a city must look to a progressive future
Homosexuality was only decriminalised last year in India, so it is natural that some old ways of thinking will linger, but the recent discrimination against a transgender individual in the city is an ugly reminder of the work yet to be done.
Mumbai is a massive city of over 11 million people, it is the capital of the world’s largest democracy, and is home to a cosmopolitan mix of people from all over the country and the world. Yet some in Mumbai remain, in many ways, social backward in many of their views toward traditional taboo issues such as homosexuality, bisexuality, transgender and cross-dressing. Read more
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