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Ex-Im Bank loan guarantee to Air India upheld by US appeals court

Tue, 18 Jun 2013 17:24:35 -0400

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 victory ...

Google spending $7mn to fight child pornography

Tue, 18 Jun 2013 17:23:53 -0400

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. "We ...

Aspen seeks to acquire GSK thrombosis drug and plant

Tue, 18 Jun 2013 17:20:31 -0400

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 ...

Shenzen to be first Chinese city to begin carbon trading

Tue, 18 Jun 2013 17:12:35 -0400

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 ...

UK inflation rises to 2.7pc in May pushed by higher transport cost

Tue, 18 Jun 2013 17:12:21 -0400

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 ...

Kodak prepares $406 million offering as it eyes bankruptcy exit

Tue, 18 Jun 2013 22:08:17 -0400

on Tuesday said it will seek court approval for a $406 million (259.7 million pounds) rights offering that could give creditors a big equity stake in the company after it emerges from Chapter 11 bankruptcy protection.Kodak said creditors agreed to backstop an offering that would let the Rochester, New York-based company issue 34 million common shares at $11.94 each, equal to about 85 percent of ...

Judge U-T must pay former carriers

Tue, 18 Jun 2013 22:05:38 -0400

U-T San Diego must pay a group of former newspaper carriers $3.18 million because they were classified as independent contractors but given job requirements more appropriate for regular employees, a Superior Court judge said ...

Filner cedes to builder after $100000 gift

Tue, 18 Jun 2013 22:05:37 -0400

Mayor Bob Filner vetoed a builder's request to modify a Kearny Mesa development plan and then later dropped his objection after the company gave $100,000 to the ...

Australian Market Trades Higher On Wall Street Lead

Tue, 18 Jun 2013 22:04:54 -0400

The Australian stock market is trading higher on Wednesday with investors indulging in some brisk buying in mining, energy and industrial stocks, tracking positive cues from Wall Street, where the major averages surged higher overnight on the back of some encouraging economic data.The benchmark S&P/ASX 200 index, which advanced to 4,844.8 in early trades, is currently trading at 4,825, up ...

Why Yellen Should Be Next Fed Chief

Tue, 18 Jun 2013 21:54:40 -0400

Robert Heller, Former Federal Reserve Governor, tells CNBC why he sees Janet Yellen as both the best qualified and the most likely successor to Ben Bernanke if he does leave the Federal Reserve at the end of ...

Whitehaven shares jump as Tinkler cuts stake

Tue, 18 Jun 2013 21:41:37 -0400

WHC.AX ) rose as much as 9 percent on Wednesday after the company's top shareholder, embattled tycoon Nathan Tinkler, offloaded about half his stake to cut his ...

Adobe expects third-quarter Creative Cloud subscriber adds to exceed second-quarter

Tue, 18 Jun 2013 21:41:28 -0400

Shantanu Narayen, president and chief executive officer of Adobe Systems Inc., speaks during the Reuters Global Technology, Media and Telecom Summit in New York May 21, ...

Market Wrap for Tuesday June 18 Stocks Rally Ahead of Fed Statement

Tue, 18 Jun 2013 21:38:31 -0400

Risk appetite was brisk on Wall Street on Tuesday as investors purchased stocks ahead of Wednesday's FOMC statement. The Fed is expected to provide clarity on when it may begin tapering its current $85 billion per month bond buying program. Although there is uncertainty, the market seems to be pricing in the likelihood that the Fed will continue its dovish monetary policy for the foreseeable ...

Interesting Similarities Among 2013s Top-Performing ETFs

Tue, 18 Jun 2013 21:38:31 -0400

With 2013 nearly half complete, now is a good time to look at this year's top-performing ETFs to see what has worked, what might keep working and which funds could be vulnerable to second-half pullbacks. Before getting to the good stuff, some housekeeping is in order. First, 10 ETFs that will be highlighted are all plain vanilla, non-leveraged funds. Second, the list and performance data ...

Dividend ETFs No Need to Pay up For Yield

Tue, 18 Jun 2013 21:38:30 -0400

according to Treasury Department data , but the reality is even at 2.2 percent, the yield on Treasurys is nothing to write home about. Given the still anemic yields on assets that are perceived to be risk-free, it is not surprising that investors have been paying up for higher yields elsewhere. The ongoing hunt for yield has predictably ...

Alexander Why Wi-Fi is speedier than Internet

Tue, 18 Jun 2013 20:58:42 -0400

Q You wrote that any Wi-Fi router you can buy today will be much faster than your Internet connection. Does this mean the wireless router can transmit data faster than my Internet connection can send it? If so, who ...

Statuesque San Diego County

Tue, 18 Jun 2013 20:58:12 -0400

San Diego is home to some wonderful examples of public art. Above, "Magic Carpet Ride" by artist Matthew Antichevich goes through odd transformations, as you'll see in the next slide.Did we forget your ...

Nuclear failure may show limits of computers

Tue, 18 Jun 2013 20:58:12 -0400

View inside one of the San Onofre nuclear power plant's steam generators with the steam dome cut off, looking at the top of the steam bundle. Tubes begin at the opposite end from the viewpoint of this photo, bring hot reactor water up around the tube bend shown in this photo and then end back to the other end where the water returns to the reactor. Thus the tubes are heated. Then a second ...

Tyrie report now lock up the banksters

Tue, 18 Jun 2013 20:50:48 -0400

Banks will hate large chunks of this report, which is fair indication that Andrew Tyrie's commission has understood the industry. Photograph: Felix ...

British banks must do better says standards report

Tue, 18 Jun 2013 20:50:47 -0400

The Parliamentary Commission on Banking Standards report - called Changing Banking for Good - runs to more than 500 pages and is the culmination of a year's work. It cost 850,000 to produce and took evidence from more than 250 witnesses. Its recommendations ...

Honeywell takes to skies with COMAC

Tue, 18 Jun 2013 20:48:06 -0400

/enpproperty--> Honeywell Aerospace, the United States-based aviation parts maker and a major supplier to China's domestic commercial aircraft, the C919, is upbeat about the much-anticipated jet's maiden flight in 2015, a senior executive of the company said. "We are on schedule" with the Commercial Aircraft Corp of China's plan for the first flight, John ...

Bankers Should Face Jail Terms Report Warns

Tue, 18 Jun 2013 20:45:42 -0400

A new criminal offence punishing bankers for "reckless misconduct" while running their institutions is the centrepiece of proposals unveiled by a group of MPs and peers aimed at reforming the industry. The Parliamentary Commission on Banking Standards (PCBS), which was set up after last summer's Libor-manipulation scandal led to Barclays being ...

Microsoft says it freed millions of computers worldwide from criminal botnet

Tue, 18 Jun 2013 20:44:46 -0400

said that an assault it led earlier this month on one of the world's biggest cyber crime rings has freed at least 2 million PCs infected with a virus believed to have been used to steal more than US$500 million from bank accounts worldwide. "We definitely have liberated at least 2 million PCs globally. That is a conservative estimate," Richard Domingues Boscovich, assistant general ...

Stimulus Program Is Noise In Economy Gilder

Tue, 18 Jun 2013 20:42:49 -0400

All eyes are on the Fed as they kick off their 2-day meeting. Jon Hilsenrath, WSJ, and George Gilder, author of "Knowledge and Power," discuss what's ahead for Fed Chairman Bernanke, and the U.S. ...

Small Business Economic Uncertainty

Tue, 18 Jun 2013 20:42:48 -0400

Many small businesses are still struggling in this economy. Sen. Bob Casey, Joint Economic Committee (D), and Sen. Susan Collins, Appropriations & Intelligence Committee (R), discuss ways in which small business can be ...

Gilders Knowledge and Power

Tue, 18 Jun 2013 20:42:47 -0400

Texas Gov. Rick Perry will be CNBC's Larry Kudlow's guest on Wednesday night. Also, George Gilder, author of "Knowledge and Power," discusses the gap between knowledge and power, and how to solve the "paralysis of our ...

DuckDuckGo Search Engine Surges 33

Tue, 18 Jun 2013 20:42:46 -0400

DuckDuckGo CEO Gabriel Weinberg says web traffic on his search engine, billed as an alternative to Google that doesn't store your private information, surged 33 percent after the NSA news broke. Weinberg discusses the model of his search engine, and ...

Chrysler agrees to recall 1.56 million Jeeps

Tue, 18 Jun 2013 20:42:44 -0400

The NHTSA's concerns over older-model Jeep Grand Cherokees and Libertys has prompted a recall after investigations found a crash from behind could puncture the fuel tank, possibly causing a fire. NBC's Brian Williams ...

Ex-Lockheed official joins board of Norwegian titanium firm

Tue, 18 Jun 2013 20:35:17 -0400

LMT.N ) incoming CEO after having an affair with a subordinate, said he has joined the board of directors of a Norwegian titanium producer that works closely with Spirit AeroSystems Inc ...

United Dreamliner lands safely after possible oil filter problem

Tue, 18 Jun 2013 20:35:17 -0400

SEATTLE (Reuters) - United Airlines said on Tuesday that a Boeing Co 787 on its way to Tokyo from Denver was diverted to Seattle after an indication of a problem with an oil filter, but said the plane landed without ...

Tinkler gives up half of Whitehaven stake to lender

Tue, 18 Jun 2013 20:35:16 -0400

The U.S. fund, Farallon Capital Management picked up a 9.9 percent stake from Tinkler and entities associated with him, taking its holding in Whitehaven to 16.6 percent, it said in a shareholding notice to the Australian stock ...

Vodafone raises Kabel Deutschland offer after rival bid report

Tue, 18 Jun 2013 20:35:16 -0400

The logo of Germany's biggest cable operator, Kabel Deutschland, is written on a door bell at the Kabel Deutschland playout center in Frankfurt February 25, ...

Quake studies cut short by nuke shutdown

Tue, 18 Jun 2013 19:52:20 -0400

The operator of the San Onofre Nuclear Generating Station is likely to scale back a robust slate of earthquake studies as it moves forward with retiring the coastal power ...

We were not leaned on over branch sale says Lloyds

Tue, 18 Jun 2013 19:45:41 -0400

The bosses of Lloyds Banking Group have denied that they were told by politicians to favour the sale of more than 600 branches to the Co-op over rival ...

Banking reform after the crash

Tue, 18 Jun 2013 19:45:05 -0400

Today's parliamentary report on the flaws and failure of banking and banking regulation is nearly 600 pages long and the product of months of work, but it needs to be read in the light of one big fact. At the height of the banking crisis, every man, woman and child in Britain stuck 19,271 each behind the banking sector. According ...

Andrew Tyrie carves out role as inquisitor-in-chief of financial crisis

Tue, 18 Jun 2013 19:45:04 -0400

Andrew Tyrie, a former adviser to Conservative chancellors Nigel Lawson and John Major, joined parliament in 1997. Photograph: Kirsty ...

Pay cuts imposed on top civil servants could lead to exodus of talent – auditor

Tue, 18 Jun 2013 19:45:03 -0400

pay and conditions of senior civil servants have deterred private sector managers from taking up Whitehall jobs and could result in an exodus of talent, the government's independent auditor has warned.A report by the National Audit Office concludes that there are "clear capability gaps" in the ...

Jail threat for reckless bankers among proposals to clean up banking system

Tue, 18 Jun 2013 19:45:02 -0400

George Osborne is facing pressure to radically overhaul Britain's banks by introducing a new law to jail bankers for "reckless misconduct" and force bankers to wait up to 10 years to receive their bonuses.The proposals, among the key measures recommended in a major report by the parliamentary commission on banking standards, also include a call on him to consider breaking up the ...

Jo Swinson proposes streamlined appeals system for businesses

Tue, 18 Jun 2013 19:45:01 -0400

regulators from introducing consumer-friendly measures will be curbed under proposals published by the government on Wednesday.The Business minister, Jo Swinson, is proposing a streamlined appeals system for challenging decisions by the UK's economic regulators, which ...

Food packaging traffic lights to signal healthy choices on salt fat and sugar

Tue, 18 Jun 2013 19:45:00 -0400

Research found consumers ignored food labels when more than one system was used, such as traffic lights and guideline daily amounts. Photo: Press ...

Microsoft Dynamics ERP software now available on the Azure cloud

Tue, 18 Jun 2013 19:42:36 -0400

IDG News Service - Microsoft is upping the stakes in the growing market for cloud-based ERP, with its Dynamics GP 2013 and NAV 2013 products now available for deployment on its Azure service. The launch, announced Tuesday, gives customers another option for cloud-based ERP (enterprise resource planning) services besides NetSuite, SAP Business ByDesign and others. It's a bit late in coming, ...

Fed May Not Be Able to Tame Volatile Trading

Tue, 18 Jun 2013 19:42:24 -0400

"That's how I see it. Tomorrow is dangerous," said Art Cashin, director of NYSE floor operations at UBS. Financial markets always watch the Fed, and they always hang on every word of Fed policy. But the Fed's ...

Thomas Jackson Judge who tried to split up Microsoft

Tue, 18 Jun 2013 19:33:27 -0400

Thomas Penfield Jackson, who died of cancer on 16 June at the age of 76, was a federal judge in Washington who presided over a Microsoft antitrust case and ordered the software giant to be split up. He also presided over the the drug possession trial of the former Mayor of Washington, Marion ...

REFILE-PM Abe says G8 welcomed Japans economic policies

Tue, 18 Jun 2013 19:30:06 -0400

BELFAST, June 18 (Reuters) - Japanese Prime Minister Shinzo Abe said on Tuesday G8 leaders expressed strong support for his "Abenomics" economic policies and he has heard no concerns about Japan's radical monetary ...

UKs Osborne to unveil future of state-controlled banks

Tue, 18 Jun 2013 19:30:03 -0400

Britain's Chancellor of the Exchequer George Osborne speaks at the Confederation of British Industry (CBI) annual dinner in London May 15, ...

Dolce and Gabbana face verdict on alleged tax evasion

Tue, 18 Jun 2013 19:30:02 -0400

MILAN (Reuters) - An Italian court is expected to rule on Wednesday on whether legendary fashion duo Domenico Dolce and Stefano Gabbana should be sent to prison for allegedly hiding hundreds of millions of euros from the tax ...

Dish abandons Sprint bid to focus on Clearwire

Tue, 18 Jun 2013 19:30:01 -0400

Workers build a booth for Dish, a satellite TV provider, as they prepare for the International CES show at the Las Vegas Convention Center in Las Vegas, Nevada January 4, ...

The equity markets have been in a seesaw recently

Tue, 18 Jun 2013 19:27:38 -0400

The appetite for risk improved cautiously in the US on Tuesday, as the market hunted for clues from the Fed meeting ending Wednesday. The equity markets have been in a seesaw recently while trying to gauge the Fed's pace of tempering its quantitative easing.The foreign currencies ended divergently again on Tuesday. Euro and franc ended higher, and the yen, pound and the commodity currencies ...

Fewer Canadian businesses forecasting more losses Conference Board

Tue, 18 Jun 2013 19:26:05 -0400

OTTAWA -- Many Canadian businesses are still struggling to turn a profit, although fewer are forecasting more losses, according to the Conference Board of Canada. The Ottawa-based think-tank said Tuesday its profitability index rose by 0.1 points in May -- the smallest increase in nine months. The board said profit increases, while meager, are being supported by "stronger performances in ...

Scotia ‘failed to comply with trading supervision obligations’ IIROC settlement

Tue, 18 Jun 2013 19:26:04 -0400

Scotia Capital Inc., the capital markets division of Bank of Nova Scotia, has agreed to pay a fine of $150,000 to settle allegations it failed to implement policies and procedures to prevent and detect potential wash trades and artificial pricing transactions related to high closing. Scotia "admitted that it failed to comply with its trading supervision obligations," according to a ...

Jeep No Recall But New Trailer Hitches

Tue, 18 Jun 2013 19:24:03 -0400

Chrysler said today that due to customers’ ';raised concerns'; it would add or replace trailer hitches on some older model Jeeps now at the center of a safety debate between the automaker and the U.S. government. Mike Palese, a Chrysler spokesman, told ABC News today that the trailer hitch would ';provide more ability to absorb some crash forces'; in rear-impact ...

Emerging Markets Awash in Protests

Tue, 18 Jun 2013 19:22:14 -0400

ETFs that track them are cascading lower even on days when U.S. equities rally. The reasons are plentiful and the recent declines for an array of emerging markets ETFs are staggering. Weak currencies, slowing growth, concerns about the end of quantitative easing here in the U.S., interest rate cuts that have yet to work, interest rate hikes that have proved equally ...

U.S. lawmakers urge careful review of American-US Airways deal

Tue, 18 Jun 2013 19:21:00 -0400

WASHINGTON, June 18 | Tue Jun 18, 2013 7:21pm EDT WASHINGTON, June 18 (Reuters) - Two U.S. lawmakers with antitrust oversight have urged the Obama administration to carefully review a planned merger of American Airlines and US Airways Group to ensure that it will not lead to higher prices for air travelers. US Airways announced on Feb. 14 that it planned to buy American Airlines parent ...

Australia shares seen bouncing on strong Wall St weaker A$

Tue, 18 Jun 2013 19:13:16 -0400

SYDNEY, June 19 (Reuters) - Australian shares are expected to rebound on Wednesday, after Wall Street rose for a second straight day as investors bet the Federal Reserve will maintain its stimulus support for the world's biggest economy. A weaker Australian dollar may also benefit stocks with overseas exposure. * Local share price index futures rose 0.7 percent to 4,855.0, a 40.6-point ...

Hewlett-Packard moves printer PC executive Bradley into new job

Tue, 18 Jun 2013 18:51:48 -0400

on Tuesday named Todd Bradley, the head of its largest unit, printing and personal computers, to take on the new job of improving the company's China business and extending distribution partner relationships around the world.Bradley, who was among the people considered for the chief executive post after the ouster of Mark Hurd in 2010, will also work with CEO Meg Whitman to identify ...

Survey CRE professionals still leery about recovery

Tue, 18 Jun 2013 18:49:37 -0400

Commercial real estate folks are just a tiny bit hesitant to call the recent recovery a hearty one in their business. That, according to the seventh semi-annual Minnesota Commercial Real Estate Survey, which was released by the University of St. Thomas' Shenehon Center for Real Estate on Tuesday. The results, tallied from a group of 50 CRE experts locally who work in development, finance ...

Fallon loses Cadillac account

Tue, 18 Jun 2013 18:49:36 -0400

Minneapolis ad agency and the iconic American luxury vehicle maker have parted ways after a nearly three-year relationship when Cadillac decided to go in a different marketing ...

DreamWorks says TV revenue to hit $200M by 2015

Tue, 18 Jun 2013 18:43:32 -0400

LOS ANGELES - DreamWorks Animation SKG Inc. says its new deal to provide original TV shows to Netflix will help it double the revenue it gets from TV shows to $200 million by 2015.DreamWorks expects $100 million in TV revenue this year. The Glendale, Calif., company released the figures in a call with analysts Tuesday.The deal to supply Netflix Inc. with 300 hours of new TV shows over several ...

Coca-Cola Leveraging Social To Drive Leadership in Social Media Marketing

Tue, 18 Jun 2013 18:41:05 -0400

Coca-Cola.FM and live-streaming music events, Coca-Cola has shown the world how revolutionary they can be and how this type of marketing evokes emotional, long-lasting customer engagement. ...

‘Full-Speed Ahead’ Before Fed Meeting

Tue, 18 Jun 2013 18:38:57 -0400

S&P 500 appears poised to post gains, StockMonster's Guy Adami said Tuesday. "I don't think there's going to be any taper talk at all," he said. "They've come this far, the Fed, why would they back off now? So, I think it's going to be full-speed ahead. Technically, the market's intact. I think we make a push up to that 1,687 level." On ...

Obama ‘Essentially Fired’ Bernanke Meyer

Tue, 18 Jun 2013 18:38:56 -0400

President Barack Obama "essentially fired" Fed Chairman Ben Bernanke in televised remarks this week, former Federal Reserve Governor Laurence Meyer ...

Google Puts Consumers at Risk AGs Say

Tue, 18 Jun 2013 18:38:56 -0400

Google to change the way its search engine displays results. Mississippi Attorney General Jim Hood hasn't filed any charges against the search giant,but he has accused Google of helping facilitate the sale of illegal goods--from prescriptions to counterfeit music. Frustrated with the company's inaction, Hood announced on Tuesday that he will subpoena Google's business records to ...

In praise of older workers Carlos Slim

Tue, 18 Jun 2013 18:33:58 -0400

Mexican tycoon Carlos Slim, among the richest people in the world with a fortune of $73 billion, says that workers in developed countries reach their prime at 60. Billionaire Carlos Slim, age 73, says workers--those in developed economies, anyway--are at their prime in their 60s and there is no reason for them to retire. "When you have an industrial economy like in the past where people ... ...

FBR Co. CEO Higher Rates May Slow US Growth

Tue, 18 Jun 2013 18:33:55 -0400

Are mergers & acquisitions ready to take off? Richard Hendrix, FBR & Co. chairman and CEO, explains why there will need to be different valuation and growth environments before private equity firms will get more ...

CNBC Fed Survey When Will Fed Taper

Tue, 18 Jun 2013 18:33:53 -0400

CNBC's Steve Liesman discusses the results of the latest CNBC Fed Survey; and what impact tapering QE might have on the economy, with David Jones, DMJ Advisors, and CNBC's Rick ...

Stocks close higher as all eyes focus on Fed meeting

Tue, 18 Jun 2013 18:33:48 -0400

2 hours ago The Dow soared nearly one percent on Tuesday, as the Federal Reserve kicked off a two-day meeting to discuss the future of the central bank's bond-buying program."All eyes are on the Fed," said John Fox, co-manager of the FAM Value Fund. "Economic news has been fine and continues the trend that we've been on, but tomorrow's going to have much bigger ...

Exclusive SunGard explores $2 billion data unit sale - sources

Tue, 18 Jun 2013 18:26:52 -0400

NEW YORK (Reuters) - SunGard Data Systems Inc, the computer software maker that was taken private in 2005 for $11.4 billion, is exploring a sale of its data managing operations that could fetch up to $2 billion, several people familiar with the matter said on ...

Google challenges surveillance court on First Amendment grounds

Tue, 18 Jun 2013 18:26:52 -0400

SEATTLE (Reuters) - Google Inc asked the U.S. Foreign Intelligence Surveillance Court on Tuesday to allow it to publish aggregate numbers of national security requests it receives separately from criminal requests, on First Amendment ...

Adobe profit beats as Creative Cloud subscriptions soar

Tue, 18 Jun 2013 18:26:51 -0400

Shantanu Narayen, president and chief executive officer of Adobe Systems Inc., speaks during the Reuters Global Technology, Media and Telecom Summit in New York May 21, ...

US stocks surge ahead of Fed decision

Tue, 18 Jun 2013 18:26:07 -0400

US stocks have risen decisively as investors bet the Federal Reserve will stay the course the next day on its economic stimulus ...

Precious Metals Struggle as Inflation Numbers Remain Weak

Tue, 18 Jun 2013 18:24:03 -0400

SLV ) futures for July decreased 8 cents to finish at $21.68.Both precious metals declined as government inflation numbers continue to remain weak. The latest consumer price index report, released by the U.S. Bureau of Labor Statistics, showed an increase in the average price of goods and ...

Behind Valeant’s US$1.75-billion common shares offering

Tue, 18 Jun 2013 18:22:53 -0400

At regular intervals, a transaction comes along that shows no matter how often reference is made to the North American capital markets, the reality is there are two: theirs and ours. A planned US$1.75-billion offering of common shares by Valeant Pharmaceuticals International, a Canadian-headquartered company whose shares are listed on both the TSX and the NYSE, is the latest example that ...

USDA to spend $38M to support sugar prices

Tue, 18 Jun 2013 17:45:07 -0400

The U.S. government will intervene in the sugar market for the first time in more than a decade, spending up to $38 million in an effort to forestall a later bailout of sugar producers -- including those in Minnesota -- that could cost over $300 ...

Goodwill to open in La Jolla

Tue, 18 Jun 2013 17:44:37 -0400

The new store, at 7631 Girard Ave., is just under 1,600 square feet and will feature primarily clothing and accessories, with a smaller-than-average housewares section, said Sharon Corrigan, communications director for Goodwill Industries of San Diego ...

RSF stock promoter charged with fraud

Tue, 18 Jun 2013 17:44:36 -0400

A Rancho Santa Fe stock promoter has been accused of fraudulently arranging the purchase of $2.5 million worth of shares in a penny stock in an effort to boost its ...

Taco Bell to test Power Protein menu

Tue, 18 Jun 2013 17:40:29 -0400

NEW YORK -- Taco Bell plans to test a "Power Protein" menu as part of its push to provide choices for people looking to eat healthy.The chain says it will start testing the menu July 25 in Dayton, Ohio. The burritos and bowls will have more than 20 grams of protein and less than 450 calories.The test comes after the company announced in April that it would work to provide more balanced ...

After Hours Adobe rises La-Z-Boy flat after hours

Tue, 18 Jun 2013 17:40:06 -0400

SAN FRANCISCO (MarketWatch) -- Adobe Systems Inc. and La-Z-Boy Inc. shares were in focus after hours Tuesday following an upbeat trading session that saw the major U.S. stock indexes put in solid ...

Wall Street Rises on Fed Hopes Dollar Gains on Yen Health-Care Cost Inflation to Stunt in 2014

Tue, 18 Jun 2013 17:37:24 -0400

Wall Street Rises on Hopes for Fed Status Quo, Outcome Uncertain (Reuters) Stocks soared today due to growth-oriented sectors rallying on expectations that the Fed will maintain its current level of bond purchases when it issues its policy statement tomorrow. The Fed began its two-day meeting today, and traders are still debating whether the Fed will begin to wind down its purchases of $85 ...

Wall Street Journal Columnist Calls Allegations Of Sexual Assault ‘A He-SaidShe-Said Dispute’

Tue, 18 Jun 2013 17:30:48 -0400

an op-ed for the Wall Street Journal on Monday night, detailed a set of allegations of sexual assault in the military before concluding that they amounted to a ';he-said/she-said dispute'; that only revealed ';a political campaign against sexual assault in the military that shows signs of becoming an effort to criminalize male sexuality.'; All of it, he argues, amounts to a ...

CORRECTED-FEATURE-From the ashes of Webvan Amazon builds a grocery business

Tue, 18 Jun 2013 17:29:12 -0400

Tue Jun 18, 2013 5:29pm EDT (Corrects to remove reference to Mark Zaleski in paragraph 18) By Alistair Barr SAN FRANCISCO, June 16 (Reuters) - The online grocery start-up Webvan may have been the single most expensive flame-out of the dot-com era, blowing through more than $800 million in venture capital and IPO proceeds in just over three years before shutting its doors in 2001. Twelve years ...

Power Lunch Power Summit

Tue, 18 Jun 2013 17:29:05 -0400

Check out "The Power Summit" this Thursday, June 20th, on Power Lunch. CNBC will host investment leaders from 5 big Wall Street firms and answer the question: Where is Wall Street headed in the second half? This Thursday at 1pm ...

What worried owners can do about Jeep recall

Tue, 18 Jun 2013 17:29:04 -0400

Chrysler and the federal government have finished wrangling over whether a Jeep recall is warranted, with the automaker agreeing Tuesday to a voluntary recall of 2.7 million Jeep models. Earlier this month, the National Highway Traffic Safety Administration asked Chrysler to voluntarily recall Jeep Grand Cherokees in model years 1993 to 2004 and Libertys in model years 2002 to 2007. Based on its ...

London I Regret Everything Take Full Responsibility

Tue, 18 Jun 2013 17:28:49 -0400

Former KPMG auditor Scott London says he made about $70,000 in the insider trading scheme, and plans to plead guilty to securities fraud, reports CNBC's Jane ...

Google putting consumers at risk state AG says

Tue, 18 Jun 2013 17:28:49 -0400

Google is being accused of "assisting in the sale of prescription drugs without a prescription and intentionally ignoring reports of rogue pirate sites selling stolen music, movies, software and video games." Three state attorneys general want Google to change the way its search engine displays results. Mississippi Attorney General Jim Hood hasn't filed any charges against the ...

Millions Of Jeeps Recalled Over Fuel Tank Fears

Tue, 18 Jun 2013 17:26:10 -0400

Chrysler has avoided a showdown with government safety regulators, agreeing to recall 2.7 million older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire. Earlier this month the company defiantly refused the government's request to recall the Jeeps. But Chrysler now says it will go ahead with the recall after getting calls from worried customers. The ...

Ex-fund managers can remain free during U.S. insider trading appeal

Tue, 18 Jun 2013 17:21:15 -0400

At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...

Exclusive Facebook reaches 1 million active advertisers

Tue, 18 Jun 2013 17:21:14 -0400

(Reuters) - Facebook Inc said on Tuesday it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue ...

Deloitte to pay $10 million to settle misconduct accusations

Tue, 18 Jun 2013 17:21:14 -0400

NEW YORK (Reuters) - A financial advisory unit of Deloitte LLP has agreed to pay $10 million and accept other New York state penalties to settle accusations of misconduct related to an investigation of money laundering at Standard Chartered ...

Adobe profit falls but earnings beat Street

Tue, 18 Jun 2013 17:19:13 -0400

SAN FRANCISCO (MarketWatch) - Adobe Systems Inc. on Tuesday reported a fiscal second-quarter profit of $76.55 million, or 15 cents a share, compared with a profit of $223.88 million, or 45 cents a share, for the year-earlier period. Revenue fell to $1.01 billion from $1.12 billion. Adjusted profit was 36 cents a share. Analysts polled by FactSet on average were expecting the business software ...

Microsoft Makes A Few Advertising Announcements At Cannes Lions

Tue, 18 Jun 2013 17:18:12 -0400

Microsoft has some advertising news today out of Cannes Lions. Last year at Cannes, Microsoft Advertising’s Yarn announced it would be working in partnership with creative agencies and brands on some new ad experiences. Today, they announced a new wave of prototypes they developed with agencies like BMB, Razorfish, Rooster Worldwide, UM, and VML and brands like All Saints clothing, ...

Facebook says it has one million advertisers

Tue, 18 Jun 2013 17:17:03 -0400

Facebook Inc. has revealed that one million advertisers are now actively advertising on the world’s largest social network - the first time it has made such data on its advertisers public. The Menlo Park, Calif.-based company attributes this growth, not to big brands and marketers who have been using the Facebook platform to advertise for years, but to small, local businesses that have ...

Orbite strikes deal to sell alumina to Glencore

Tue, 18 Jun 2013 17:17:03 -0400

Emerging alumina company Orbite Aluminae Inc. has secured a top-notch customer for its product. Now it hopes that same customer will provide much-needed capital for its proposed processing plant in Quebec. Montreal-based Orbite announced on Tuesday that commodity giant Glencore Xstrata PLC agreed to buy 100% of its alumina production from the Quebec plant for an initial period of 10 years. ...

Stocks surge on latest hopes for Fed

Tue, 18 Jun 2013 17:16:04 -0400

NEW YORK It's all about the Fed. Still. U.S. stocks moved higher Tuesday, helped by news of a pickup in home building and low inflation. But the Federal Reserve loomed large, with investors trying to guess what the central bank will say Wednesday about how long it plans to keep stimulus programs in place. For many, Tuesday was just a holding pattern as they waited for Wednesday's ...

Time to make the doughnuts ad is over

Tue, 18 Jun 2013 17:16:03 -0400

NEW YORK Don't expect to see Dunkin' Donuts revive its famous "Time to make the doughnuts" ad campaign anytime soon. Paul Carbone, chief financial officer for Dunkin' Brands Group Inc. ...

United adds spending threshold for frequent fliers

Tue, 18 Jun 2013 17:16:03 -0400

CHICAGO United Airlines is making it a little harder to get a higher frequent-flier status. The company's MileagePlus program used to require flying 25,000 miles per year to gain elite status. Now United is adding a requirement for at least $2,500 in spending, too, to qualify for the ...

Facebook Friends Welcome at Bar Others Maybe Not

Tue, 18 Jun 2013 17:14:58 -0400

Facebook users in or around the Stockton, Calif., area may be getting a new friend. A local business owner has made it his mission to friend every bar patron as a precautionary measure to keep the good patrons in and the bad ones out. Finnegan’s Irish Pub and Grill ...

$A opens weaker despite Wall St surge

Tue, 18 Jun 2013 17:14:21 -0400

The Australian dollar is weaker despite a firmer finish on Wall Street.At 0632 AEST on Wednesday, the local unit was trading at 94.81 US cents, down from 94.92 cents on Tuesday.US stocks closed firmer, as the US Federal Reserve kicked off its Federal Open Market Committee meeting that will decide whether to continue its stimulus measures.Investors in recent weeks have speculated the Fed will soon ...

Brekkie Wrap Kim Jong-un hands out Mein Kampf NSA director says Wall St attack foiled

Tue, 18 Jun 2013 17:05:29 -0400

NORTH Korean leader Kim Jong-un is handing out copies of Adolf Hitler's Mein Kampf in an effort to sow fear among top officials. Kim reportedly handed out copies of Mein Kampf to mark his birthday, but North Korea-watchers believe the move is part of an effort to make him seem powerful, rather than drawing on Nazi beliefs."One source says there have been many overt attempts to imbue Kim ...

Google asks U.S. surveillance court permission to publish request data

Tue, 18 Jun 2013 16:41:01 -0400

Reuters © The Google logo is seen on the top of its China headquarters building behind a road surveillance camera in Beijing January 26, 2010. REUTERS/Jason ...

Chrysler recall avoids showdown with government over Jeep models for fire risk

Tue, 18 Jun 2013 16:38:49 -0400

DETROIT -- Chrysler abruptly agreed to recall 2.7 million older model Jeeps Tuesday, reversing a defiant posture and avoiding a possible public relations nightmare over fuel tanks that can catch fire in a rear-end collision. In deciding on the recall, Chrysler avoided a showdown with government safety regulators that could have led to public hearings with witnesses giving details of deadly ...

Turkeys economy is still strong but vulnerable

Tue, 18 Jun 2013 16:38:48 -0400

After a volatile 1990s and a huge bust in 2001, his Justice and Development government has presided over steady high growth and modest inflation. In 2010 and 2011 the economy grew by a China-like 9 percent, leading to serious fears of ...

Foreclosures fall to nearly 7-year low

Tue, 18 Jun 2013 16:38:17 -0400

San Diego County foreclosures have plummeted to a nearly seven-low year -- in light of rising home values, the effects of government intervention and new protections for California consumers, said real estate tracker DataQuick on ...

Amid Security Concerns Microsoft Drops Linked Outlook Accounts For Aliases

Tue, 18 Jun 2013 16:37:08 -0400

While Microsoft has long supported linked accounts for its Hotmail and Outlook email services, the Redmond-based software giant recently noted these can be tempting targets for hackers. In a surprising move, the company has opted to sever those links entirely. On Monday, Microsoft announced it would drop linked accounts for ...

US STOCKS-Wall St extends rise investors see no change in Fed policy

Tue, 18 Jun 2013 16:33:53 -0400

Tue Jun 18, 2013 4:33pm EDT * Fed expected to try to soothe markets over stimulus * Industrial and tech shares rally, 3M at 52-week high * Boeing shares hit 5 1/2-year high * Indexes up: Dow 0.9 pct, S&P 0.8 pct, Nasdaq 0.9 pct By Ryan Vlastelica NEW YORK, June 18 (Reuters) - U.S. stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements ...

Microsoft slashes Surface RT prices by 60 for schools

Tue, 18 Jun 2013 16:28:09 -0400

Computerworld - Microsoft today confirmed that it has heavily discounted the Surface RT tablet to universities and K-12 schools, cutting the price of the entry-level model by 60%. It was the third time within a month that Microsoft has launched a Surface RT promotion, hinting at an impending refresh of the tablet. On Monday, Ryan Lowdermilk, a Microsoft technical evangelist, published details ...

Adobes Earnings Beat Stokes Shares

Tue, 18 Jun 2013 16:27:59 -0400

Adobe Systems reported quarterly earnings that beat Wall Street's expectations on Tuesday on revenue that came in on target. The software maker's shares rose nearly 4 percent after the bell, following the ...

Summer of Discontent Coming Ferguson

Tue, 18 Jun 2013 16:27:59 -0400

Discussing the mass protests in Brazil and Indonesia and the silent vigils held in Turkey after protesters clashed with police, with CNBC's Michelle Caruso-Cabrera, and Niall Ferguson, Harvard ...

Jack Lews New Less Crazy Signature

Tue, 18 Jun 2013 16:27:58 -0400

Am I the only one who finds it disappointing that Jack Lew has decided to sign U.S. dollars with a pretty normal signature?When Lew was nominated to succeed Tim Geithner as Secretary of Treasury, attention immediately turned to his crazy signature. It looked like a series of loops rather than anything resembling letters found in our alphabet. Putting this on our currency would have added a bit of ...

United Elite Status For a Higher Price

Tue, 18 Jun 2013 16:27:58 -0400

United Airlines . Think total dollars spent.United announced Tuesday that beginning in 2014, members of the airline's MileagePlus program will be required to achieve an annual spending requirement, in addition to miles or segments flown, to enjoy the perks of Premier elite ...

Millionaires on the Rise

Tue, 18 Jun 2013 16:22:54 -0400

A report from Capgemini and RBC shows 12 million millionaires worldwide, whose fortunes grew 10 percent to a record $46 trillion, reports CNBC's Robert Frank. Janet Engles, RBC Wealth Management, weighs ...

Talking Numbers Is Sony a Buy

Tue, 18 Jun 2013 16:22:52 -0400

Third Point's Dan Loeb has upped his stake in Sony. Is the stock now a buy? Richard Ross, Auerbach, says the stock makes a compelling buy, and Steve Cortes, Veracruz, thinks there are problems for ...

EasyJet plane order rekindles Airbus-Boeing subsidy row

Tue, 18 Jun 2013 16:15:41 -0400

EasyJet announced the $10 billion order for 100 A320neo medium-haul jets, together with 35 current-generation A320 aircraft worth $3 billion at list prices, on Tuesday, day two of the Paris ...

La-Z-Boy options active ahead of earnings

Tue, 18 Jun 2013 16:12:36 -0400

- La-Z-Boy, Inc. - Shares in furniture producer, La-Z-Boy, Inc., increased as much as 3.9% to $19.80 at the start of the session, the highest level since 2004, ahead of the company's fourth-quarter earnings report after the closing bell today. Options volume is up ahead of the report, with roughly 400 contracts in play this afternoon versus average daily volume of around 80 contracts. ...

Even if approved Keystone seen failing to relieve Canada’s oil glut

Tue, 18 Jun 2013 16:11:11 -0400

Even if U.S. President Barack Obama approves the Keystone XL pipeline, Canadian crude oil probably will remain the cheapest in the world, hampering expansion of the country's largest export industry. Canadian oil prices are forecast to fall compared with world benchmarks because production from oil sands, fields of sand coated with heavy oil beneath about 90,000 square kilometers (34,749 ...

Walmart Canada accepted clothing shipments from banned Bangladesh factory

Tue, 18 Jun 2013 16:11:10 -0400

Since the Rana Plaza building collapse killed more than 1,100 people in April, retailers have faced mounting pressure to improve safety at Bangladesh garment factories and to sever ties with manufacturers that don’t measure up. The world’s largest retailer, Walmart, last month released a list of more than 200 factories it said it had barred from producing its merchandise because of ...

Cenovus to triple amount of crude moved by rail by end of next year

Tue, 18 Jun 2013 16:11:10 -0400

CALGARY -- Cenovus Energy Inc. is looking to triple the amount of crude it ships by rail between the end of this year and next. The Calgary-based oil company is expecting to finish 2014 by moving 30,000 barrels by rail -- up from the 10,000 it's anticipating by the end of ...

Expecting a rise in market volatility There’s an ETF for that

Tue, 18 Jun 2013 16:11:09 -0400

Where the global economy may or may not go, what the Federal Reserve and other central banks may or may not do, whether "Abenomics" in Japan works - all fodder these days for those who expect volatility to come back to the financial markets. And it has come back. While nowhere close to the 70, 80 and higher levels seen at the height of the 2008 market meltdown or at the peak of the ...

Canadian oil producers plead for Northern Gateway approval

Tue, 18 Jun 2013 16:11:09 -0400

TERRACE, B.C. -- Canadian oil producers are increasingly concerned about delays to plans to expand Western Canada's crude oil pipeline capacity and pleaded with regulators Tuesday to give Northern Gateway the green ...

Best Employers for Workers Over 50

Tue, 18 Jun 2013 16:09:01 -0400

The National Institutes of Health (NIH) tops this year's list of the best employers for Baby Boomers, according to the American Association of Retired Persons (AARP). The list, co-sponsored by the Society for Human Resource Management ...

US STOCKS SNAPSHOT-Wall St advances for 2nd day Fed in focus

Tue, 18 Jun 2013 16:05:15 -0400

NEW YORK, June 18 | Tue Jun 18, 2013 4:05pm EDT NEW YORK, June 18 (Reuters) - U.S. stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper recent statements that were interpreted as meaning an early reduction of stimulus efforts. The Dow Jones industrial average was up 138.76 points, or 0.91 percent, at 15,318.61. The Standard and Poor's ...

Deloitte NY settle over review of Standard Chartered money laundering

Tue, 18 Jun 2013 15:34:53 -0400

Reuters © The logo of Standard Chartered is seen at its new Singapore office tower at the Marina Bay Financial Centre, January 24, 2011. REUTERS/Kevin ...

Spec industrial building slated for Roseville

Tue, 18 Jun 2013 15:32:28 -0400

Now here's something you don't see too often in commercial real estate these days. A spec project. On Tuesday, developer Trammell Crow Co. said it plans to develop a 185,470-square-foot speculative industrial development ...

Amazon to stop paying Minnesota bloggers for sales traffic

Tue, 18 Jun 2013 15:32:26 -0400

What are the forces moving the Minnesota economy? Adam Belz tries to identify the trends and show the connections between Minnesota and the larger U.S. and global economies. You can connect with him on ...

Study finds housing bias against same-sex couples

Tue, 18 Jun 2013 15:32:03 -0400

WASHINGTON -; A new study finds that same-sex couples are treated less favorably than heterosexual couples when seeking information about rental housing advertised ...

Oceanside Chamber gets spotlight for being ‘Social Media Friendly’

Tue, 18 Jun 2013 15:31:54 -0400

OCEANSIDE -; David Nydegger, president and C.E.O. of the Oceanside Chamber of Commerce, recently announced that the Oceanside Chamber has been recognized as one of ...

Meth brain harm cut by MediciNova drug

Tue, 18 Jun 2013 15:31:53 -0400

Results of the Phase 1b study of MN-166 were presented at the 75th Annual College on Problems in Drug Dependence meeting, held in downtown San Diego. Phase 1b trials study safety and look for some "proof of concept" demonstration that the drug is active in the predicted ...

Asda slips as supermarkets battle for middle ground

Tue, 18 Jun 2013 15:24:17 -0400

Asda , the UK's second biggest supermarket, is suffering hardest from the squeeze as customers switch to cheaper rivals and the number three supermarket, Sainsbury's, threatens its position.Fraser McKevitt, a retail analyst for Kantar, said: "The jury is slightly out at the moment on when Sainsbury's will overtake Asda. The latter tends to do very well in the summer period, ...

Burberrys London homecoming pays homage to Hockney and Bennett

Tue, 18 Jun 2013 15:24:15 -0400

London after a decade on the Milan menswear catwalks was always going to be a blockbuster show - but in the event, it was also an emotional homecoming. Designer Christopher Bailey created a subtle, nuanced collection which moved beyond the obvious pole stars of British menswear (Savile Row, punk, Bond, country gent) to celebrate instead the more eccentric, colourful, offbeat style of David ...

Bank of England appoints woman as first chief operating officer

Tue, 18 Jun 2013 15:24:14 -0400

Bank of England governor, has appointed Charlotte Hogg, a senior executive at Santander and the scion of one of Britain's most blue-blooded political dynasties, to become the Bank's first chief operating officer.Hogg, who heads Santander's high street operations, will start at the Bank on 1 July - the day that Carney takes over from Sir Mervyn King. The 41-year-old will head all ...

The Microsoft breakup that never happened

Tue, 18 Jun 2013 15:21:45 -0400

Computerworld - Thomas P. Jackson, the former federal judge who in 2000 ruled that Microsoft should be split into two companies as punishment for monopolistic business practices, died Saturday at his Maryland home. He was 76. Jackson's demand that Microsoft divide was overturned by a federal appeals court in 2001, in part because the panel believed public comments Jackson made during and ...

Icahn Proposes Dell Tender Offer

Tue, 18 Jun 2013 15:21:32 -0400

Icahn also announced a purchase of 72 million Dell shares from Southeastern Asset Management, making him the second largest shareholder in Dell. The letter also said that a "major bank" was willing to provide $1.6 billion in financing. According to a source, Jefferies is the major bank. ...

Who Will Succeed Bernanke

Tue, 18 Jun 2013 15:21:32 -0400

Ben Bernanke would step down when his second term expires on Jan. 31. Obama told Charlie Rose, host of a PBS interview program, that Bernanke was like longtime FBI Director Robert Mueller, who agreed to stay two years longer in the job than he had planned and is to leave in the coming months. "Well, I think Ben Bernanke's done an outstanding job," Obama said. "Ben ...

Dont Force Paid Internships Commentary

Tue, 18 Jun 2013 15:21:31 -0400

Conde Nast Publications --may seem like a David vs. Goliath story. However, the actions of these interns are going to end up hurting students all across the country--and ultimately our country's competitive edge. At some point, many people in our country crossed the line that separated respecting money and worshiping money. However, now we are in a precarious position where we may cross a ...

10 Most Expensive Hurricanes in US History

Tue, 18 Jun 2013 15:21:29 -0400

forecast an active or extremely active season , which started June 1 and ends Nov. 30. Many of the worst storms to strike in past years have caused billions in damage for those residing on the East Coast and states near the Gulf of Mexico. What are the all-time costliest hurricanes to have ever hit the U.S.? Here are the Top 10, according to ...

Ferguson Going to Be Tougher For Next Generation

Tue, 18 Jun 2013 15:15:47 -0400

Niall Ferguson, Harvard economist and author of "The Great Degeneration," shares his economic outlook. I'm worried about the fiscal burdens that we have racked up that my kids are going to have to contend with, he ...

Power Rundown Harder To Do Business In USA

Tue, 18 Jun 2013 15:15:43 -0400

Discussing whether it's harder to do business in the U.S. than anywhere else, and if Bernanke has "run his course," with Niall Ferguson, Harvard economist, and author of "The Great ...

Indian Floods Hunt for Hoffa

Tue, 18 Jun 2013 15:15:41 -0400

Top headlines right now, with CNBC's Tyler Mathisen, and Niall Ferguson, Harvard economist. Floods in India claim 70 lives, and authorities are searching a Michigan field for the remains of union boss Jimmy ...

Its Jeep vs. Uncle Sam as Chrysler may defy huge recall

Tue, 18 Jun 2013 15:15:34 -0400

33 minutes ago After a public disagreement that threatened to blow up into a larger battle, Chrysler said Tuesday that it has agreed to recall 2.7 million Jeep vehicles that the National Highway Traffic Safety Administration said could potentially erupt into fire if rear-ended.Chrysler had been expected to file papers Tuesday refusing to comply with a NHTSA voluntary recall request sent earlier ...

Tim Hortons being circled by Wall Street hedge funds

Tue, 18 Jun 2013 15:14:20 -0400

At least two groups of American hedge funds have bought large chunks of Tim Hortons shares recently, a sign the activist investors want to push the company to make major changes to its business, or possibly give up some control over the company. In a regulatory filing Tuesday, New York-based Scout Capital Management LLC revealed it recently bought 6.1 million shares in Tim Hortons, bringing its ...

Chrysler Agrees To Recall Jeeps Over Fire Risk

Tue, 18 Jun 2013 15:10:55 -0400

DETROIT (AP) -- Chrysler says it has resolved its differences with the government and will recall older Jeep Grand Cherokee and Liberty SUVs that could be at risk of a fuel tank fire. Earlier this month the company refused the government’s request to recall the Jeeps. The National Highway Traffic Safety Administration contended that the gas tanks could rupture if hit from the rear, ...

Western Union sees $500 million online revenue by 2015 CEO

Tue, 18 Jun 2013 15:08:44 -0400

WU.N ) expects revenue from its digital business to grow to $500 million by 2015, from $150 million currently, its chief executive said on ...

Huawei might consider buying Nokia report

Tue, 18 Jun 2013 15:08:44 -0400

At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...

Spain Garners a Bull Call

Tue, 18 Jun 2013 15:05:23 -0400

It was just over a year ago that yields on Spanish 10-year sovereign bonds surged over 7.6 percent. Investors fretted that the "S" in the infamous PIIGS acronym was headed for collapse and a subsequent epic bailout. Spain, the eurozone's fourth-largest economy, offered little in the way of bullish investment themes, that is unless one enjoys crippled banks and the region's ...

D23 releases new photos of Walt Disney on revamped website

Tue, 18 Jun 2013 15:04:50 -0400

This photo of Walt Disney, taken with his personal camera, was made at his home in California. More rarely seen photos are now available for free on the website of D23, the official Disney fan ...

6 alternatives to summer internships

Tue, 18 Jun 2013 15:02:35 -0400

(MoneyWatch) Motivated high school and college students often spend their summers working at low-paying or even nonpaying internships. In view of the competition for prime positions, they should apply for them as early as post-Christmas break. The difficulty in landing one is borne out by the fact that 52 percent of college students reported their school didn't provide them with enough ...

Medical cost inflation to ebb in 2014

Tue, 18 Jun 2013 15:02:35 -0400

(MoneyWatch) Medical cost inflation will rise less in 2014 than in any point in recent history, according to a new report by PwC's Health Research Institute. A host of trends -- from corporate wellness programs to moving care out of emergency rooms and into less expensive retail locations -- is expected to hold back the rapid rise in the amount Americans spend on health care even as an ...

A second look at travel insurance

Tue, 18 Jun 2013 15:02:34 -0400

(MoneyWatch) I have written in the past that trip cancellation insurance is not a necessity, since most people can afford to self-insure against the risk of vacation plans gone awry. It is important, for example, that you do business with a reputable travel agency and look into a cancellation waiver. But recent policy changes by airlines may shock unaware travelers who have to cancel or change ...

US STOCKS SNAPSHOT - Nasdaq rises more than 1 pct

Tue, 18 Jun 2013 14:57:22 -0400

NEW YORK, June 18 | Tue Jun 18, 2013 2:57pm EDT NEW YORK, June 18 (Reuters) - U.S. stocks added to gains in afternoon trading on Tuesday, pushing the Nasdaq up more than 1 percent, as investors were optimistic about the outlook for the Federal Reserve's economic stimulus policies. The Dow Jones industrial average was up 153.55 points, or 1.01 percent, at 15,333.40. The Standard and ...

US Wall St. plot foiled

Tue, 18 Jun 2013 14:20:34 -0400

The director of the National Security Agency said Tuesday the U.S. government's sweeping surveillance programs have foiled some 50 terrorist plots worldwide, including one directed at the New York Stock Exchange, in a forceful defense of the spy operations. Army Gen. Keith Alexander said the two recently disclosed programs -- one that gathers U.S. phone records and another that is designed ...

European car sales lowest since 1993

Tue, 18 Jun 2013 14:16:03 -0400

The slump in European car sales has reached a fresh nadir with the worst figures for May in 20 years, eroding manufacturers' faint hopes of a recovery after more than five years of decline.The European Automobile Manufacturers' Association said demand for new cars in the European Union was down 5.9% on the same month last year. Just over a million cars were registered in the lowest ...

Before You Invest Google

Tue, 18 Jun 2013 14:13:15 -0400

Google . Seriously? Seriously. Even in the post-Bernie Madoff era, individuals still haven't learned to do something as simple as Google a financial advisor before entrusting the advisor with their assets. ...

Icahn Calls for Dell Tender

Tue, 18 Jun 2013 14:13:15 -0400

CNBC's Josh Lipton reports breaking news on Dell. Billionaire Carl Icahn proposed that Dell commence a tender offer for $1.1 billion at $14/share. He also announced a purchase of 72 million Dell shares from Southeastern Asset ...

Job Hunting Gifts for Graduates

Tue, 18 Jun 2013 14:13:14 -0400

Wondering what to get your favorite graduate? Chances are he or she could use some help getting started in the world of work. Unemployment among college graduates is under 4 percent, but a significant share of those employed are not working in their chosen fields. Whether for a graduate heading to a hot job or for one hunting for career gratification, these accouterments will come in handy. ...

Home Builders Slow Starts Raise Prices

Tue, 18 Jun 2013 14:13:14 -0400

CNBC's Diana Olick reports housing starts rebounded more than 6 percent in May after a large drop the previous month. David Goldberg of UBS and Deutsche Bank's Nishu Sood provide their insight on how to play the home builder space ...

Plot against Wall Street foiled US spy chief

Tue, 18 Jun 2013 14:09:35 -0400

National Security Agency said Tuesday the US government's sweeping surveillance programs have foiled some 50 terrorist plots worldwide, including one directed at the New York Stock Exchange, in a forceful defense of the spy operations. Army Gen. Keith Alexander said the two recently disclosed programmes, one that gathers US phone records and another that is designed to track the use of ...

If Chrysler refuses Jeep recall what can owners do

Tue, 18 Jun 2013 14:07:28 -0400

Chrysler introduced the all-new 1999 Jeep Grand Cherokee in Detroit's Cobo Center in Detroit, Michigan in this June 16, 1998, file photo. While Chrysler and the federal government wrangle over whether a Jeep recall is warranted, owners of the 2.7 million affected vehicles may find their options haven't stalled. Chrysler is expected to file papers Tuesday formally refusing a National ...

May Housing Starts Up 6.8

Tue, 18 Jun 2013 14:07:28 -0400

Multi-family starts rose 25 percent month-to-month in May, and single-family starts were up just 0.3 percent month-to-month. CNBC's Diana Olick, offers insight. Jade Mills, Coldwell Banker; Al Goldstein, Pangea Properties CEO; and Niall Ferguson, ...

Billionaires Real Estate Playbook

Tue, 18 Jun 2013 14:07:25 -0400

Colony Capital's Tom Barrack, reveals where he is finding housing plays in the real estate sector. Taper talks began and REITs were hammered as a result, he ...

A million new millionaires 2012 was a good year for wealthy

Tue, 18 Jun 2013 14:07:22 -0400

There were one million new millionaires in the world last year, according to a survey, the World Wealth Report. The population of millionaires worldwide surged by 9 percent last year, growing to 12 million, according to a report. The World Wealth Report, from Capgemini and RBC Wealth Management, said rising stock markets and stronger real estate helped create 1 million new millionaires ...

Plane war pits Boeings new Dreamliner vs. Airbus A350

Tue, 18 Jun 2013 14:07:14 -0400

Boeing fought back Tuesday with plans for a larger version of the Dreamliner, just four days after its competition, the Airbus A350, grabbed the headlines by taking to the skies for the first time.The trans-Atlantic battle between the world's biggest airplane makers ratcheted up a notch at the Paris Air Show where cost-conscious airlines are shopping for wide-body planes that can carry more ...

Wall Street rises on hopes of Fed status quo

Tue, 18 Jun 2013 14:05:38 -0400

NEW YORK - U.S. stocks rose on Tuesday, led by growth-oriented sectors, as Federal Reserve policymakers gathered for a two-day meeting to discuss the future of the Fed's bond-buying to stimulate the economy. With the Fed expected to maintain the current level of purchases, shares of industrial, technology and consumer discretionary companies rallied. General Electric gained 1% to $24.02 and ...

City Investors Vow Fight Over RBS Break-Up

Tue, 18 Jun 2013 14:04:45 -0400

Some of the City's most prominent institutional investors are vowing to oppose any attempt to break up Royal Bank of Scotland (RBS), claiming it would undermine attempts to recover the taxpayer's 45.5bn of rescue funding. Sky News can reveal that institutions including Royal London Asset Management and Standard Life Investments have begun to express profound concerns about a ...

Tax Evasion G8 Leaders Vow Tougher Stance

Tue, 18 Jun 2013 14:04:45 -0400

Leaders of the G8 nations have signed an agreement to crack down on the "scourge" of tax evasion at the end of a two-day summit in Northern Ireland. The leaders also vowed to tackle tax avoidance by multinationals such as Google, Amazon and Starbucks that costs taxpayers billions in lost revenues. Summit host Prime Minister David Cameron has made clamping down on secret flows of ...

U.S. groups form alliance to push for Indian trade reforms

Tue, 18 Jun 2013 13:59:34 -0400

At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...

Exclusive Japans Astellas looks to sell dermatology assets - sources

Tue, 18 Jun 2013 13:59:34 -0400

NEW YORK - Stocks climbed on Tuesday, led by growth-oriented sectors, as investors took an optimistic view that the Federal Reserve will temper recent statements pointing to the future reduction of monetary support. ...

Icahn seeks to allay fears over lack of financing for Dell bid

Tue, 18 Jun 2013 13:59:34 -0400

Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference at the New York Stock Exchange in this June 27, 2007 file ...

‘A rather serious setback for Canadian trade’ Harper ends EU trip unable to clinch deal

Tue, 18 Jun 2013 13:55:07 -0400

Prime Minister Stephen Harper concludes his eight-day European trip unable to complete a trade agreement with the European Union, just as the opening of EU-U.S. talks raises the risk that Canada will be left ...

Chrysler to stand by refusal to recall Jeeps

Tue, 18 Jun 2013 13:54:01 -0400

(MoneyWatch) Chrysler is set to file its official response today to the National Highway Traffic Satety Administration, in which it is expected to lay out the reasons it is refusing to recall 2.7 million Jeeps that the agency says pose a risk of fatal fires. The automaker is arguing that the NHTSA is using faulty analysis in claiming that gas tank placement on the Jeep Grand Cherokees and Jeep ...

Pre-Paid Funeral Service Was a Ponzi-Like Scheme

Tue, 18 Jun 2013 13:52:53 -0400

An alleged former officer in a pre-paid funeral scheme that may have bilked 150,000 people out of $600 million pled guilty to being involved in the sale of prearranged funeral contracts and the misappropriation of insurance premiums intended for them. Sharon Nekol Province, 69, pled guilty in a plea bargain yesterday before U.S. District Judge Jean Hamilton. The U.S. Attorney's Office in ...

UPDATE 1-Vodafone and Liberty face battle for Kabel Deutschland

Tue, 18 Jun 2013 13:32:45 -0400

Tue Jun 18, 2013 1:32pm EDT * Kabel Deutschland seeks binding bids in 2 weeks-source * Anti-trust authorities to study any Liberty Global deal * Liberty Global continues M&A spree in Europe * Vodafone leverage lower than telecom peers By Paul Sandle and Sophie Sassard LONDON, June 18 (Reuters) - Vodafone faces a battle for Germany's largest cable company, Kabel Deutschland , although rival ...

Lifestyle Players raise concerns over laptop deal with Microsoft

Tue, 18 Jun 2013 13:16:35 -0400

NAIROBI, KENYA: Players in the telecommunications service industry are raising concerns over the manner in which the Kenyan government is going about its school laptop ...

Market Extra How to trade the Federal Reserve decision

Tue, 18 Jun 2013 13:11:27 -0400

NEW YORK (MarketWatch) -- The main question hanging over financial markets right now is when and how the Federal Open Market Committee will scale back its bond purchases, seen as one of the biggest drivers for investment moves this ...

Currencies Dollar rises vs. yen ahead of Fed decision

Tue, 18 Jun 2013 13:11:26 -0400

NEW YORK (MarketWatch) -- The U.S. dollar rose on Tuesday against the Japanese yen, as the Federal Open Market Committee prepared to kick off its two-day ...

British financial authorities look to snatch back US lead over Libor

Tue, 18 Jun 2013 13:08:10 -0400

David Green, director of the SFO, has the full backing of government to assert a British lead in Libor prosecutions. Photograph: Shaun Curry for the ...

Banks move higher as FTSE gains ground ahead of US Federal Reserve meeting

Tue, 18 Jun 2013 13:08:09 -0400

finished 43.72 points higher at 6374.21 as investors awaited comments from Fed chairman Ben Bernanke which they hoped would clarify its intentions regarding its $85bn a month bond buying programme. Central bank actions to stimulate the global economy have been supporting the markets for months, but comments in May from Bernanke suggesting an end could be in sight sent shivers through investors.As ...

Yahoo says it received up to 13000 user data requests from US government agencies in 6 months

Tue, 18 Jun 2013 13:06:32 -0400

Yahoo is the latest company to disclose how many requests for user data it has received from U.S. government agencies, putting the number between 12,000 and 13,000 in the six months that ended on May 31. Yahoo Inc. CEO Marissa Mayer and General Counsel Ron Bell said in a blog post late Monday that the most common requests concerned fraud homicides, kidnappings, and other criminal investigations. ...

Hewlett-Packard puts Todd Bradley in strategy role

Tue, 18 Jun 2013 13:06:18 -0400

Todd Bradley, the head of Hewlett-Packard Co.'s printing and personal computer business, has been appointed to a new position in charge of the company's strategy with a focus on China, the company said ...

For Some Areas the Fed Taper Already Has Begun

Tue, 18 Jun 2013 13:05:22 -0400

the Fed liquidity that helped drive a global stock market rally is beginning to dry up. They see money now flowing out of parts of Asia and going into cash, or getting teed up for a Europe ...