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Need more positive signs before scaling back stimulus, says Bernanke

Wed, 22 May 2013 17:25:11 -0400

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 ...

April sees Japan trade deficit jump to 879.9bn yen

Wed, 22 May 2013 16:52:11 -0400

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 ...

Breakthrough research shows Vit C kills drug resistant TB

Wed, 22 May 2013 15:56:35 -0400

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 ...

UK urged by IMF to bring forward high value spending

Wed, 22 May 2013 15:53:31 -0400

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 ...

US delegation to urge labour reforms in Bangladesh

Wed, 22 May 2013 15:50:14 -0400

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 ...

Work starts on creation of new Dubai island

Mon, 20 May 2013 04:26:18 -0400

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 ...

Tribals in Niyamgiri demonstrate against Bauxite mining

Thu, 23 May 2013 08:00:03 -0400

More than 3000 tribals assembled in Muniguda village of Rayagada district on Wednesday (May 22), to protest against mining in the Niyamgiri hills. The Supreme Court had recently suggested that there was need to seek the opinion of local tribals before mining as it did not want any damage to be caused to the environment. The mining project has also been opposed by the rights groups. The Gram ...

Leona Lewis heart-broken after first breakup

Thu, 23 May 2013 08:00:01 -0400

Leona Lewis has revealed that she thought her world had come to an end following her split with first boyfriend. The 'Bleeding Love' hit maker, who was in a 10-year relationship with A'n'R scout Lou Al-Chamaa until 2010, told Stylist magazine that she was not sure if she would be able to get over the breakdown of her first romance, Contactmusic reported. Bu Lewis now believes that the split has ...

Tamara Ecclestone opens up about relationship with new beau

Thu, 23 May 2013 06:50:04 -0400

Tamara Ecclestone, who started dating her new boyfriend Jay Rutland in January after being introduced by mutual friends, shocked the world by announcing that she was engaged to him just one month later. The F1 heiress told the Mirror that the couple's engagement has been very sudden and she knows that there are people who won't understand that and will read things into it. She said that, ...

Ford to close manufacturing operations in Australia slash 1200 jobs

Thu, 23 May 2013 06:30:05 -0400

Ford will close its manufacturing operations in Australia and 1200 workers will lose their jobs in October 2016. Ford Australia president and CEO Bob Graziano said that the company would shut the Geelong engine factory, costing 510 jobs, and the Broadmeadows car assembly line, shedding another 650 positions, reports News.com.au. Sacked workers have been offered a 39 million-dollar rescue ...

Group of Ministers on CBI autonomy to meet today

Thu, 23 May 2013 06:00:03 -0400

The Group of Ministers (GoM) appointed to discuss modalities for ensuring greater independence for the Central Bureau of Investigation (CBI) will meet on Thursday in Finance Minister P. Chidambaram's office. According to a television channel report, the government had set up the GoM after the Supreme Court had pulled it over the lack of functional autonomy to the CBI. The Supreme Court in its ...

Global gastronomical delights enticing foodies

Thu, 23 May 2013 04:40:02 -0400

Devil chicken with angry sauce, rigatroni au gratin washed down with grass jelly fresh milk: the capital's culinary aficionados are in for a treat with renowned food chains from around the world entering the market and setting the stage for a global food fest. Italian, Japanese, Vietnamese, Mexican, German, French, American, Greek, Thai, Chinese, Korean, Dutch, Portuguese, Ethiopian and ...

`Ageing Asia to strain worlds long-term economic growth

Thu, 23 May 2013 04:40:01 -0400

The Asia-Pacific region will continue to power global economic growth in 2013, but the region's increasing ageing population will cast a shadow on the long-term development, according to a Canadian think-tank. "Productivity gains and a large, young working-age population have done much to boost Asian economic growth over the past three decades. But Asia's demographic dividend is quickly coming ...

GM recalls nearly 20000 new Cadillac SRX SUVs

Thu, 23 May 2013 04:30:02 -0400

General Motors Corporation said it is recalling nearly 20,000 new Cadillac SRX SUVs for faulty wheel lug nuts, according to a Detroit News report. The Detroit automaker told the National Highway Traffic Safety Administration it is recalling 18,871 2013 SRX SUVs in the US and nearly 1,000 in Canada over concerns that a wheel could eventually fall off, reported Xinhua. GM has been investigating ...

Chinas manufacturing slows HSBC

Thu, 23 May 2013 04:30:01 -0400

China's manufacturing activity fell into contraction for the first time since October, a preliminary survey from the HSBC showed. The HSBC Flash Manufacturing Purchasing Managers' Index (PMI) for May fell to 49.6 in May, dropping under the boom-bust line of 50 for the first time since October, according to figures released by HSBC Thursday. Qu Hongbin, chief economist of the HSBC China, said ...

Angela Merkel tops Forbes Most Powerful Women list for third successive year

Thu, 23 May 2013 04:20:02 -0400

German chancellor Angela Merkel has been named as the most powerful woman in the world for the third successive year by business magazine Forbes. Brazilian President Dilma Rousseff was ranked second with Melinda Gates, co-chairman of the Bill and Melinda Gates foundation in third. According to the Independent, the Queen, rankedat 40, is the oldest woman on the list and has dropped 12 places ...

Cheruiyot to miss World championships for pregnancy

Thu, 23 May 2013 03:50:01 -0400

Kenya's Vivian Cheruiyot will not be able to defend her 5,000 metres and 10,000 metres titles at this year's Moscow World championships as she is expecting her first child. The runner said in a statement Wednesday that she felt it was "the right time to start a family" at the age of 29, reports Xinhua. Cheruiyot plans to return for the 2014 season and compete in the 2015 World championships in ...

Top 10 qualities of exceptional boss revealed

Thu, 23 May 2013 03:50:01 -0400

The first lesson in business is to figure out who to listen to and who not to. The Huffington Post has come up with 10 traits that show who an exceptional boss is and who is not. Accepting responsibility and hold themselves and others accountable is among the primary qualities of a good boss. Secondly, the good bosses are not full of surprises. One of the simple facts of management is that ...

Pakistan one of worlds most negative nations Poll

Thu, 23 May 2013 03:30:05 -0400

Pakistan has been viewed as one of the most negative countries in the world in a new poll. The south Asian country was ranked after Israel, North Korea in terms of how they are viewed globally. This year's annual Country Ratings Poll for the BBC World Service found that 55 percent of respondents viewed Pakistan as a negative country as compared to only 15 percent who had a mainly positive ...

Manufacturing one pair of sneakers emits 30 pounds of carbon dioxide

Thu, 23 May 2013 03:30:05 -0400

A typical pair of running shoes generates 30 pounds of carbon dioxide emissions, equivalent to keeping a 100-watt light bulb on for one week, a new MIT-led lifecycle assessment has revealed. But what's surprising to researchers isn't the size of a shoe's carbon footprint, but where the majority of that footprint comes from. The researchers found that more than two-thirds of a running shoe's ...

Global obesity epidemic linked to addiction to unhealthy food

Thu, 23 May 2013 03:30:04 -0400

Research shows that high-fructose corn syrup can cause behavioural reactions in rats similar to those produced by drugs of abuse such as cocaine. These results, presented by addiction expert Francesco Leri, Associate Professor of Neuroscience and Applied Cognitive Science at the University of Guelph, suggest food addiction could explain, at least partly, the current global obesity epidemic. ...

Gisele Bundchen crowned most powerful model in world

Thu, 23 May 2013 03:00:02 -0400

Gisele Bundchen has been named as the most powerful model in the world by Forbes magazine. The 32-year-old, who is the only model named to the magazine's newly released 2013 'World's Most Powerful Women' list, has been ranked No. 95 out of the 100 influential women including iconic entrepreneurs, CEOs, politicians and philanthropists, the Huffington post reported. Bundchen made the list last ...

Finance head Carrion to run for IOC president

Thu, 23 May 2013 02:30:01 -0400

Finance Commission head Richard Carrion has joined the race to succeed International Olympic Committee (IOC) president Jacques Rogge. The Puerto Rican will run against Thomas Bach, Ng Ser Miang and Wu Ching-kuo, who has yet to officially declare his intention to run, reports Xinhua. Carrion, 60, has no sporting background. He is chairman of a financial holding company and since 2002 has ...

Japanese economy has begun to recover central bank

Thu, 23 May 2013 02:10:01 -0400

Japan's central bank said Wednesday that it will continue pursuing its current stimulus program and that the country's economy "has begun to recover" thanks to a reversal in the decline of exports, which account for 40 percent of Japanese GDP. "Domestic demand remains resilient due to the effects of the monetary relaxation measures" and the recently-approved stimulus policies, the Bank of Japan ...

Largest genetic sequencing study of human disease completed

Thu, 23 May 2013 02:00:03 -0400

A global team of scientists has completed the largest sequencing study of human disease to date, investigating the genetic basis of six autoimmune diseases. The exact cause of these diseases - autoimmune thyroid disease, coeliac disease, Crohn's disease, psoriasis, multiple sclerosis and type 1 diabetes- is unknown, but is believed to be a complex combination of genetic and environmental ...

UN urges collective efforts to achieve water secure world on Day for Biological Diversity

Wed, 22 May 2013 20:17:08 -0400

22 May 2013 150 Unless greater efforts are made to reverse current trends, the world will run out of freshwater, the United Nations said today marking the International Day for Biological Diversity and urging stronger scientific alliances to understand and protect natural resources. "We live in an increasingly water insecure world where demand often outstrips supply and where water quality ...

World motorsport chief to visit Botswana

Wed, 22 May 2013 09:50:01 -0400

The president of the world motorsport governing body, Federation Internationale de I' Automobile (FIA), Jean Todt is scheduled to visit Botswana in August, Botswana Motorsport Association (BMSA) has confirmed. BMSA secretary general Joseph Khengere said Tuesday they had been in consultations with the FIA since affiliating to them earlier this year and the president will pay a visit to Botswana, ...

Oz women cricketers Down Under on top of world after hefty pay-hike

Wed, 22 May 2013 09:10:02 -0400

Cricket Australia (CA) has announced that the country's top female cricketers will now earn up to 80,000 dollars within a year. The women team has won Women's World Cup and the T20 trophy, prompting CA to consider female cricket as professional, News.com.au reports. CA chief executive James Sutherland compared the women's cricket team to the men's cricket club, saying that the association wants ...

What Advice Can Parents Give a New Grad for the Work World

Thu, 23 May 2013 07:44:10 -0400

her first "real" job , you may want to impart great wisdom to her. It's a difficult time for an inexperienced worker to enter the workforce, but these tips can help make the entry easier and better align her expectations with reality. Ford R. Myers, author of "Get the Job You Want, Even When No One's Hiring," offers the following advice to new ...

Torontos not-so-artful dodger sends Doug Ford to do the talking

Thu, 23 May 2013 07:42:22 -0400

Toronto Mayor Rob Ford waits in his car at the end of the funeral for former Toronto Sun founding editor Peter Worthington at Christ Church Deer Park on Yonge St., Toronto May 22, 2013. (Fernando Morales/The Globe and ...

Indian Shares Join Global Rout

Thu, 23 May 2013 07:40:01 -0400

A global rout amid expectations that the Federal Reserve may reverse its ultra-easy monetary policy earlier than expected dragged Indian equities sharply lower on Thursday. Fed chief Bernanke's comments that an exit could be initiated in the "next few meetings" sapped demand for equities, sending stocks plunging across the board. Minutes of the Federal Reserve's April 30-May 1 ...

Muslim terrorists behead soldier on street – then warn the world

Thu, 23 May 2013 07:38:07 -0400

Two home-grown terrorists shouting "God is Great" in Arabic savagely hacked and decapitated a British soldier in broad daylight on a London street yesterday - then tried to justify the barbaric attack in a rant caught on videotape."We swear by almighty Allah we will never stop fighting you," one of the men calmly declared in a clipped British accent, his blood-red hands ...

British Open Squash Dipika Pallikal to face World No.2 Laura Massaro

Thu, 23 May 2013 07:35:49 -0400

Sports News: The British Open is finally here. India's Dipika Pallikal defeated Denmark's Line Hansen in a marathon first-round encounter to reach the pre-quarters while Saurav Ghosal lost to fourth seed Gregory Gaultier 3-1 in the Allam British Open Squash Championships ...

Ford to halt output in Australia in 2016

Thu, 23 May 2013 07:34:53 -0400

Melbourne - Ford announced Thursday it would cease making vehicles at its unprofitable Australian plants in 2016 and axe 1,200 jobs, having produced its first car in the country in ...

Investec slides after earnings miss

Thu, 23 May 2013 07:34:51 -0400

Johannesburg - Shares of Investec drop 2.5 percent to 70.9 rand after the South African investment bank and asset manager's full-year earnings fall short of lofty market ...

SP Assesses Insurance Industry and Country Risk Shaping Insurance Markets

Thu, 23 May 2013 07:34:30 -0400

A report by Standard & Poor’s Ratings Services notes that "for the two main insurance sectors, life and property/casualty (P/C), overall industry and country risks are, on average, much lower in developed than in emerging markets." S&P explained that it uses the "assessments as a factor in rating insurance companies, and have designed them to provide us and market ...

Chinas Chery Automobile inks partnership deal with BWF

Thu, 23 May 2013 07:33:49 -0400

China's car manufacturer Chery Automobil and the World Badminton Federation (BWF) on Thursday signed a partnership agreement, which the two sides described as a "win-win cooperation."The agreement will see Chery become an "official partner of BWF " for major badminton events, the Thomas and Uber Cup, Sudirman Cup and World Championships in four years."We are aware of ...

Manufacturing contraction dampens hopes for Chinas swift recovery

Thu, 23 May 2013 07:33:48 -0400

China's manufacturing activity contracted in May, suggesting that economic growth is likely to keep dipping, as authorities have tightened policies over concerns of growing financial risks.The HSBC Flash Manufacturing Purchasing Managers' Index (PMI) for May fell to 49.6, dropping under the boom-bust line of 50 for the first time since October, according to figures released by HSBC on ...

ANA to resume operation of Boeing 787s from Sunday

Thu, 23 May 2013 07:33:46 -0400

All Nippon Airways Co. (ANA) said Thursday it would resume operation of all its 787 Dreamliners from Sunday, more than four months after the Boeing Co.'s aircrafts were grounded due to a series of battery problems, local media reported.ANA is planning to use the aircraft for five temporary flights connecting Tokyo and Sapporo in northern Japan between May 26 and 31, as it has already ...

Microsoft Surface Pro a device of many talents

Thu, 23 May 2013 07:33:37 -0400

mystery press conference in Los Angeles on 19 June last year. Indeed, it was something of a shock, because for the first time, Microsoft was competing against its biggest customers: Windows PC suppliers such as Acer, Asus, Dell, HP, Lenovo, Samsung and ...

Concerns over underlying health of UK economy as 0.3 growth confirmed

Thu, 23 May 2013 07:33:28 -0400

Stockpiling by British businesses accounted for much of the growth in the UK economy in the first three months of the year, adding to concerns that its underlying health remains weak.GDP growth was confirmed at 0.3% by the Office for National Statistics after inventories increased by 0.4%.The ONS said business investment, a key indicator of the economy's wellbeing, fell 0.4% and consumer ...

Michigan lawmaker seeks to make small business office

Thu, 23 May 2013 07:31:37 -0400

Lansing - A Michigan lawmaker wants to create a new state office with the goal of helping small businesses get started and thrive. Democratic Rep. Collene Lamonte of Montague introduced a bill this week that would establish an Office of Small Business Development and Entrepreneurship Services in the state's Department of Licensing and Regulatory Affairs. It would coordinate programs for ...

Global Markets Reel on Nikkeis 7.3 Slide

Thu, 23 May 2013 07:30:18 -0400

Financial markets around the world were roiled Thursday after Japanese stocks suffered their biggest slide since the country was hit by a devastating tsunami more than two years ago. Several reasons have been blamed for the 7.3 percent fall in the Nikkei index to 14,483.98, including a spike in Japanese government bond yields ...

Northern Ireland healthcare firm lands business in Brazil

Thu, 23 May 2013 07:28:32 -0400

Arlene Foster attended South America's largest healthcare exhibition.The company currently employs around 110 people and exports to 55 countries including the ...

Another $150 million loan to Jordan from World Bank

Thu, 23 May 2013 07:28:00 -0400

Jordanin Police keep guard as Syrian refugees look on at the King Abdullah Refugee Camp for Syrian refugees 2 kilometers from the Syrian border (Photo by Chris Jackson/Getty Images) The World Bank has proposed a $150 million loan for Jordan to help it with the cost of thousands of Syrian refugees fleeing the civil war in Syria, Jordanian and World Bank board sources said on Wednesday."The ...

Citrixs NetScaler aims to bring companies closer to Software Defined Networking

Thu, 23 May 2013 07:24:20 -0400

Register for a Techworld Account and enjoy unlimited access to our extensive white paper library and exclusive Enterprise multi-user software trials. Account members can also comment on articles and access best practices ...

Conflicts like Syria creating ‘global underclass’ of refugees – Amnesty

Thu, 23 May 2013 07:24:04 -0400

Syrian refugees build a makeshift tent while waiting for a trailer from the United Nations High Commissioner for Refugees, at the Zaatari refugee camp in Jordan. Photograph: Lynsey Addario/The New York ...

CSI for companies burned by hackers

Thu, 23 May 2013 07:23:23 -0400

The examiners -- who asked not to be named -- are digital forensics experts at Stroz Friedberg, one of a handful of cybercrime first responders that companies turn to when they've been hacked. As the scope and size of cyberattacks have grown, so has Stroz Friedberg's business. Though the private company does not disclose its numbers, it says revenue rose 18% from 2011 to 2012, as the ...

Hartley targets world champs

Thu, 23 May 2013 07:19:28 -0400

Johannesburg – South African Olympic canoeing medallist Bridgitte Hartley says she aims to get good results at the final Sprint World Cup in Poland but insists that her main focus is the World Championships later this ...

Pearson switches Financial Times into new business division

Thu, 23 May 2013 07:13:50 -0400

Pearson .As part of the organisation's restructure, the FT Group will disappear and the newspaper will become part of a unit called "professional". Its chief executive will be John Ridding, who is currently CEO of the FT group.Professional will also include Pearson's global English learning business and its electronic testing business. It is hard to see what these three very ...

Digital technology poised to reshape Middle East business

Thu, 23 May 2013 07:12:03 -0400

Middle East business will be transformed by digital technologies and companies not investing in that transformation face an existential competitive threat. That’s the message leading industry figures will be bringing to ArabNet ...

British economy returns to growth in first quarter

Thu, 23 May 2013 07:08:45 -0400

Set up by Turner Broadcasting-promoted Cartoon Network’s former top official Jiggy George, this is the first time Dream Theatre will work on a local ...

UN sees slow global economic growth in 2013

Thu, 23 May 2013 07:08:42 -0400

UN's Development Policy and Analysis Division released a mid-year update forecasting world gross product growth at 2.3 per cent in 2013, "a subdued pace" characterised by sub-par expansion and weak employment prospects. The UN forecast improving growth in 2014 at 3.1 per cent. "In the United States, the avoidance of the fiscal cliff and the expansion of monetary easing, along ...

Gold down by Rs 20 on sustained selling global cues

Thu, 23 May 2013 07:08:35 -0400

Fifteen touch-screen smartphones to consider below Rs 15,000 Within the huge list, we take a look at fifteen touch-screen smartphones that have been ...

Eurozone business sluggish but signs look up survey

Thu, 23 May 2013 07:08:19 -0400

BRUSSELS (AFP) - The downturn in eurozone private sector business activity eased in May, even as the recession continued, a widely-watched survey showed on Thursday.The Markit Eurozone Composite Purchasing Managers Index registered 47.7 points, a three-month high and well up on April's 46.9 points albeit still below the threshold of 50 points indicating growth or recession.The survey is an ...

Mozambique Mozambique - Mining Resettlements Disrupt Food Water

Thu, 23 May 2013 07:06:50 -0400

A railway track used to transport Vale's shipments of coal from their mine in Moatize to the port in Beira. Maputo - Many of the 1,429 households resettled to make way for Vale and Rio Tinto’s international coal mining operations in Tete province, Mozambique have faced serious disruptions in their access to food, water, and work, Human Rights Watch said in a report released today. ...

Poor record for Myanmar in extractive industries

Thu, 23 May 2013 07:03:55 -0400

Easing economic pressure on Myanmar ignores serious human rights abuses in the country's extractive industries sector, an advocacy group said. U.S. ...

Pittsburgh companies set new highs

Thu, 23 May 2013 06:58:52 -0400

Soaring financial markets turned tail and ran in the opposite direction Wednesday following the release of minutes from the Federal Reserve meeting three weeks ago. The possibility of cutting back on bond purchases was discussed at the April 30-May 1 meeting. The Dow Jones industrial average finished trading at 15,3007.17, down 80.41 points, or 0.52 percent. The Nasdaq dropped 38.82 points, or ...

Tokyo market plummets more than 7 drags down global stocks

Thu, 23 May 2013 06:32:01 -0400

A woman walks past an electronic board displaying a graph showing the dramatic downturn of Japan's Nikkei average outside a brokerage in Tokyo, May 23, 2013. (Toru ...

Ford to quit making cars in Australia cites high costs currency

Thu, 23 May 2013 06:31:55 -0400

Ford Motor Co. will shut its two Australian auto plants in October 2016, blaming a strong currency and costs that are hitting manufacturers just as the country looks for other sectors of its economy to cushion the end of a mining boom.Ford Australia will close its engine plant in Geelong and its vehicle assembly plant in Broadmeadows, both in Victoria state, with the loss of 1,200 jobs, Ford ...

Google Oracle among companies dropping subsidiaries from disclosures

Thu, 23 May 2013 06:30:43 -0400

Google's disclosures of overseas subsidiaries have dropped from 100 in 2009 to 2, and both of those are in Ireland, according to the Wall Street Journal. Google Inc. and Oracle Corp. are among companies taking advantage of a Securities and Exchange Commission rule that allows companies to not disclose overseas subsidiaries unless their operations are "significant." For a ...

INTERVIEW-Industry is best bet for peace Israeli billionaire says

Thu, 23 May 2013 06:30:10 -0400

By Tova Cohen TEL AVIV | Thu May 23, 2013 6:30am EDT TEL AVIV May 23 (Reuters) - On a new industrial park in Israel's largest Arab town, a software plant belonging to a multibillion-dollar U.S.-listed firm sits cheek-by-jowl with two small Arab-owned businesses: a metal factory and one producing tools for brain surgery. About 300 Jews and Arabs work in the park in Nazareth, and ...

Japan gyrations underline economys vulnerability

Thu, 23 May 2013 06:29:52 -0400

TOKYO -; Japan's financial markets gyrated wildly Thursday, underscoring the vulnerability of its economy to a loss of investor confidence as Prime Minister Shinzo Abe attempts shock monetary easing to end two decades of ...

Comment Ford announcement adds to debate about Australian costs

Thu, 23 May 2013 06:29:49 -0400

Julia Gillard and Tony Abbott had different emphases in their reactions to Ford's announcement that it will shut down its Australian production - which started way back in the 1920s, writes Michelle ...

Success at the Expo 2020 ‘will boost construction on The World’

Thu, 23 May 2013 06:29:41 -0400

The World islands in the United Arab Emirates (UAE) will be given an extra boost if the country manages to land the World Expo. This is the opinion of Brendan Jack, Head of Sustainability and Environment at master developer Nakheel, who told 7DAYS: "If Dubai wins the Expo 2020, you may find that becomes a catalyst for developments on The World, and things may speed up." British ...

UK economys return to growth confirmed

Thu, 23 May 2013 06:29:08 -0400

The UK's return to growth was underlined today as revised figures confirmed the dominant services sector helped the economy expand by 0.3% in the first three months of the year. Services shook off the freezing start to the year, with a recovery from hotels and restaurants helping the sector grow by 0.6% in the first quarter, the Office for National Statistics (ONS) said today. An even ...

BRUTAL Markets Are Getting Destroyed Around The World

Thu, 23 May 2013 06:28:59 -0400

European markets have been open for a few hours, and things are ugly.England’s FTSE is down. 1.8%. France’s CAC 40 is down 2.4%. Germany’s DAX is down 2.5%. Spain’s IBEX is down 2.1%. Italy’s FTSE MIB is down 2.7%. This follows sell-offs in the U.S. and Asia. Japan’s Nikkei fell by ...

Kenya economy to grow by 6

Thu, 23 May 2013 06:23:42 -0400

Nairobi - Kenya's economy is expected to grow by about 6 percent in 2013, up from a growth rate of 4.6 percent last year, driven by growth in sectors like agriculture, the planning minister said on ...

‘Mining companies prefer stable rand’

Thu, 23 May 2013 06:23:32 -0400

Johannesburg - Mining companies in South Africa, the biggest producer of platinum and fifth-largest of gold, prefer a stable exchange rate because a weaker rand stokes inflation, Chamber of Mines senior executive Roger Baxter ...

Joburg’s growth boosts national economy

Thu, 23 May 2013 06:23:28 -0400

Johannesburg - The City of Joburg has grown at an average rate of 4.2 percent between 1996 and 2011 – higher than the average of the national and provincial economies, which are 3.3 and 3.7 percent ...

Being gay in the finance industry | Joris Luyendijk

Thu, 23 May 2013 06:22:26 -0400

A product control worker tells Joris he doesn't face real homophobia, but that he doesn't see gay people in front-office trading positions. Join him in the ...

Tesco pledges action on food waste

Thu, 23 May 2013 06:22:18 -0400

food wasted by its customers and elsewhere in its international supply chain.After criticism of the prevalence of supermarket "bogofs" (buy one get one frees) and other deals which help to create an annual mountain of ...

Volatility continues on world wheat markets

Thu, 23 May 2013 06:21:52 -0400

UK NEW crop wheat futuresslipped below 180/tonne for the first time since October 2012, but the country's wheat remains among the dearest in Europe. And analysts said it was too soon to begin speculating about the potential for animal feed prices to come down.AHDB/HGCA senior analyst Jack Watts said: "We have a lot to learn about the likely out-turn of the 2013 domestic harvest and also ...

Google engineer bashes Microsofts handling of security researchers discloses Windows zero-day

Thu, 23 May 2013 06:19:54 -0400

Computerworld - A Google security engineer accused Microsoft of treating outside researchers with "great hostility" just days before posting details of an unpatched vulnerability in Windows that could be used to crash PCs or gain additional access rights. Microsoft acknowledged the vulnerability late Tuesday. "We are aware of claims regarding a potential issue affecting Microsoft ...

AfDB Approves a USD 100 million Risk Participation Agreement with Commerzbank AG to Boost Trade Finance in Africa

Thu, 23 May 2013 06:17:15 -0400

The Board of Directors of the African Development Bank (AfDB) approved on Tuesday, May 22, a USD 100 million unfunded Risk Participation Agreement (RPA) between the AfDB and Commerzbank AG under which the two banks will share the default risk on a portfolio of qualifying trade transactions originated by issuing banks in Africa and confirmed by Commerzbank AG. This facility will help address ...

Ford to shut down Australian production by 2016

Thu, 23 May 2013 06:15:13 -0400

Manufacturing The Ford Motor Company has decided to wind down production in Australia after 85 years. The car maker says the closure of two plants and the loss of 1200 jobs is because of production losses and the small market. "Manufacturing is not viable for Ford in Australia for the longer term," said Chief Executive of Ford Australia Bob Graziano. "Our locally-made products ...

Global Markets Down After Bernanke QE Talk

Thu, 23 May 2013 06:11:27 -0400

The FTSE lost close to two percent in early trading on the back of signs the US may wind down quantitative easing measures and weak Chinese data. The losses were reflected across European bourses, spooked by a seven percent plunge on Japan's Nikkei index. London's benchmark FTSE 100 index retreated 1.74 percent, Frankfurt's DAX 30 slumped 2.33 percent and in Paris the CAC 40 ...

UK economy grows 0.3pc in first quarter

Thu, 23 May 2013 06:08:23 -0400

(1 hr 8 mins ago) Britain's economy grew by 0.3 percent in the first quarter of the year, official data showed on Thursday, confirming the initial estimate and the nation's success in avoiding a third recession since the 2008 global financial crisis . British gross domestic product grew after GDP had fallen by 0.3 percent in the final three months of 2012, the Office for National ...

Business confidence hits a low point in Ghana

Thu, 23 May 2013 06:03:39 -0400

Growth in economic activity in Ghana has weakened, Governor of the central bank, announcing this on Wednesday, said business and consumer sentiments on growth prospects have also softened amid heightened inflation ...

Fitch Assigns Final Ratings to Nqaba Finance 1s New Notes

Thu, 23 May 2013 06:03:09 -0400

Fitch: Recession Concern Dampens European Investor Sentiment An increasing number of investors expect fundamental credit conditions will deteriorate across sectors, according to a Fitch Ratings investor survey. The more circumspect sentiment was most notable for the sovereign segment, where the proportion of survey respondents anticipating worsening conditions more than doubled to 55%, from 24% ...

Sensex tanks 400 points Nifty below 6000 on global jitters

Thu, 23 May 2013 05:59:18 -0400

Fifteen touch-screen smartphones to consider below Rs 15,000 Within the huge list, we take a look at fifteen touch-screen smartphones that have been ...

Dan Bartlett is Wal-Marts new chief image maker

Thu, 23 May 2013 05:59:12 -0400

Tim Cook’s congressional debut, following an appearance at Obama’s State of the Union address in Feb, shows the iPhone maker can no longer afford to keep the low profile in ...

South Africa Minister of Water and Environmental Affairs Edna Molewa Launches the Mining and Biodiversity Guideline and Receives Life - State of South Africas Biodiversity Report

Thu, 23 May 2013 05:57:24 -0400

The Minister of Water and Environmental Affairs, Mrs Edna Molewa today, 22 May 2013 on the occasion of the International Day for Biological Diversity (IDB), launched the Mining and Biodiversity Guideline: Mainstreaming biodiversity into the mining sector, in Kirstenbosch, Cape Town. The South African National Biodiversity Institute (SANBI) also handed over the Life: State of South Africa's ...

STOCKS NEWS EUROPE-EDRAM favours stocks exposed to U.S. economy

Thu, 23 May 2013 05:54:22 -0400

* Launches strategic review of U.S. services* FY pretax profit 152.1 mln stg vs 110.2 mln stg* Revenue falls 9.6 pct to 1.33 bln* Maintains guidance as U.S. uncertainty persistsLONDON, May 23 (Reuters) - British defence ...

Kenya Former councillors ask for Uhurus help in send off package stalemate

Thu, 23 May 2013 05:22:16 -0400

They lamented that without the gratuity, they were unable to cope with the increasing cost of living, saying they were wallowing in poverty after losing in the March General Elections. Speaking to the press in Kisii town on Thursday, the civic leaders led by former Kisii Deputy Mayor Patrick Siro, they said MPs in the last parliament were each paid Sh3.7 million gratuity but councillors were left ...

Lifestyle Nokia to sponsor mobile stream at a global forum

Thu, 23 May 2013 05:22:08 -0400

The Forum, a joint initiative between infoDev, a global innovation program within the World Bank, and the Department of Science and ...

Morning business news - May 23

Thu, 23 May 2013 05:21:07 -0400

IRELAND HAS OTHER ATTRACTIONS FOR FDI APART FROM CORPORATION TAX - Apple and Ireland are still making the news this morning, after Tuesday's US Senate hearing and yesterday's summit in Brussels on tax. Kevin Gardiner of Barclays - the man responsible for coining the The Celtic Tiger phrase - says that some of Ireland's past economic success was down to foreign direct investment, ...

Good news for Pakistan Saudi to extend $15 bn bailout package to Pakistan

Thu, 23 May 2013 05:18:43 -0400

Pakistan's key ally Saudi Arabia is expected to extend $ 15-billion bailout package to Pakistan’s highly indebted energy sector to help the nation overcome power ...

Paediatric Medicines Global Recommendations

Thu, 23 May 2013 05:17:58 -0400

Transparent information on the evidence supporting global recommendations on paediatric medicines should be easily accessible in order to help policy makers decides on what drugs to include in their national drug lists, according to international experts from Ghana and the UK writing in this week's PLOS Medicine. The authors, led by David Sinclair from the Liverpool School of Tropical ...

Finance Ministry forecasts budget deficit elow 0.6 of GDP in 2014

Thu, 23 May 2013 05:16:12 -0400

MOSCOW, May 22 (Itar-Tass) - The Russian Finance Ministry forecasts the growth of the budget deficit below 0.6% of GDP in 2014, below 0.7% in 2015 and 0.6% of GDP in 2016, Finance Minister Anton Siluanov told reporters on ...

HSBC China manufacturing shrinks

Thu, 23 May 2013 05:16:01 -0400

Beijing - Manufacturing activity in China contracted in May for the first time in seven months, HSBC said Thursday, in another sign of the weakness of recovery in the world's second-largest ...

DairyCo calls for industry debate after FFA criticism

Thu, 23 May 2013 05:14:02 -0400

MILK levy board DairyCo has called for an industry debate on how work to promote the image of dairy farming should be funded, after its use of levy funds was criticised by Farmers For Action (FFA). At a meeting organised by FFA in Staffordshire last Thursday, dairy farmers called for better value from their levy money when it comes to bolstering their position in the marketplace.Addressing around ...

Nagatomo Recalled for Japans World Cup Qualifier

Thu, 23 May 2013 05:11:52 -0400

(Reuters) - Flying fullback Yuto Nagatomo was recalled to the Japan squad on Thursday for the crunch 2014 World Cup qualifier against Australia next month, where victory would secure a berth in Brazil and damage the Socceroos' hopes of joining them. A knee injury forced Nagatomo to miss Japan's last qualifier in Jordan where the Asian champions needed only a point to claim an early place ...

If Microsoft can’t beat them it bashes them

Thu, 23 May 2013 05:09:38 -0400

Scroogled " campaign, to "Bing It On", the company is more focused on the current king of online search than solving its own problems. Focusing on Google internally is fine enough, but is classless to do so publicly. You should never have to bash a competitor's products to further advance your own. With that said, Microsoft continues the desperation in the latest Bing blog ...

Solomons PM commits to transparent mining

Thu, 23 May 2013 05:08:48 -0400

Solomon Islands Solomon Islands prime minister Gordon Darcy Lilo says he's committed to developing the country's mining sector transparently and sustainably.Mr Darcy Lilo was in Sydney on Thursday to give a a keynote address at the Extractive Industries Transparency Initiative's (EITI) sixth global conference.His country was the first Pacific nation to sign up to the EITI, a ...

Rob Ford let go from football coaching job remains silent on crack allegations

Thu, 23 May 2013 05:04:20 -0400

TORONTO -- From Rob Ford's SUV escape from reporters at a Tim Hortons, to his firing from his beloved high school football program, to Doug Ford's spirited defence at a City Hall press conference, Torontonians have been witness to yet another bizarre day as the mayor's crack-cocaine video scandal shows no sign of abating.The Toronto Catholic District School Board announced ...

Stephen Harper’s government withholds details of $16-million PR campaign for oil industry

Thu, 23 May 2013 05:03:49 -0400

OTTAWA -- The Harper government is declining to explain how and where it is spending millions of taxpayer dollars on advertising to promote oil, gas and pipeline companies as well as other Canadian natural resources.Facing nearly four hours of questions from opposition MPs this week, Natural Resources Minister Joe Oliver also declined to provide specifics on a training program, worth up to ...

Honda Kagawa among 26 in Japanese squad for World Cup qualifier

Thu, 23 May 2013 05:00:53 -0400

(34 mins ago) Keisuke Honda and Shinji Kagawa have been picked in Japan's 26-man squad for the 2014 World Cup qualifier against Australia next month. Japan has 13 points in Group B of Asian qualifying and can clinch its fifth straight World Cup appearance with a win or draw against Australia on June 4 at Saitama Stadium, AP reports. Australia is third with six points and needs to do well ...

EUs Barnier wants big companies to reveal national tax bills

Thu, 23 May 2013 04:58:57 -0400

BRUSSELS (Reuters) - Large companies should disclose how much tax they pay in each country where they operate, the European Commission's top regulatory official said, in the text of a speech to be delivered on ...

Fitch Menaikkan BCA Finance ke AAA Prospek Stabil

Thu, 23 May 2013 04:54:50 -0400

Fitch Affirms Idaho Housing Finance Associations 2000 Indenture GO Pledge Outlook Stable

Thu, 23 May 2013 04:54:32 -0400

Tanzania Mwambani Port Project to Transform Tanga Economy

Thu, 23 May 2013 04:49:14 -0400

TANGA Region is set to benefit immensely from the Mwambani Port and Railway Corridor (MWAPORC) project that envisages transforming the regional economy. The Mwambani project includes the construction of a deep sea and free port as well as a new heavy haul standard gauge railway that will link the Indian Ocean from Tanzania through Uganda and the Democratic Republic of Congo (DRC). Tanga ...

Business slump in May leaves France mired in recession - PMI

Thu, 23 May 2013 04:15:01 -0400

PARIS (Reuters) - French business activity retreated again in May despite a slight improvement in manufacturing, a survey showed on Thursday, offering little hope of a quick exit from recession in the euro zone's second-biggest economy.Data compiler Markit said its preliminary composite purchasing managers index, covering activity in the services and manufacturing sectors, was unchanged in ...

Fifa World Cup-themed $820 million mall for Qatar

Thu, 23 May 2013 04:14:36 -0400

A QR 3 billion (US$820 million) World-cup themed shopping mall in Doha which hopes to attract 20 million visitors a year is set to be completed in 2015 the developer said yesterday. Developer UrbaCon Trading & Contracting said the Mall of Qatar, a 162,000 square metre mall located in Doha next to one of the future venues for the FIFA 2022 World Cup, has been designed with a FIFA theme. ...

Oil falls below $94 as China manufacturing weakens

Thu, 23 May 2013 04:12:27 -0400

BANGKOK -; The price of oil fell below $94 per barrel Thursday after a private survey showed manufacturing activity in China falling to its lowest level in seven months, a sign that the recovery in the world's No. 2 economy is ...

Xbox One Steve Jobs dream device made by Microsoft

Thu, 23 May 2013 04:12:23 -0400

Just before he died, Steve Jobs told his biographer Walter Isaacson about his dream for revolutionizing television. His fantasy device would control all the many doodads that crowd your living room - DVRs, game consoles, Blu-ray players - and would connect to the vast world of entertainment available online. Best of all, it would be drop-dead simple to control - no more futzing with the Input ...

Between economy and trouble Obama approval steady

Thu, 23 May 2013 04:12:21 -0400

President Barack Obama and first lady Michelle Obama watch as singer-songwriter Carole King performs after being presented the Library of Congress Gershwin Prize for Popular Song during an East Room concert honoring King Wednesday, May 22, 2013, at the White House in Washington. (AP Photo/Jacquelyn ...

What 1.2b Indians think about the world

Thu, 23 May 2013 04:12:20 -0400

With 1.2 billion people and counting, India is projected to become the most populous country on the planet by 2030. Now, a comprehensive new opinion survey sheds light on the worldview of Indians from all levels of society, writes Rory ...

China manufacturing contracted in May

Thu, 23 May 2013 04:11:43 -0400

A survey shows China's manufacturing contracted this month, adding to signs a fragile recovery in the world's number two economy is slowing. HSBC said today the preliminary version of its monthly purchasing managers index fell to a seven-month low of 49.6 from April's 50.4 on a 100-point scale. Ang figure below 50 show a contraction. "The cooling manufacturing activities in ...

Kazakh president suggests int’l organization be set up to study fundamental global problems

Thu, 23 May 2013 04:05:55 -0400

ASTANA, May 23 (Itar-Tass) - Kazakhstan’s President Nursultan Nazarbayev has suggested an international organization for the study of fundamental global problems be established on the basis of the G-Global ...

Madonna Inn’s Zip Sip Stay Package

Thu, 23 May 2013 04:05:01 -0400

/small-ad --> I envy birds' ability to snub gravity and soar through the air. Perhaps parachuting from an airplane would give me a taste of avian freedom, but that ain't going to happen -- ever. Fortunately, there are other ways to get a bird's-eye experience: zip-lining over pastures and vineyards in north county, for example. On a recent weekend, I had a chance to do just ...

Work to start on new worlds tallest tower in June

Thu, 23 May 2013 04:01:53 -0400

Broad Sustainable Building, the Chinese firm looking to build a modular tower that will become the world's tallest building, has said that it intends to break ground on the project next month. The company is planning to build am 838m-high (2,749ft) tower known as Sky City. The building has been prefabricated off-site, but the pieces will soon be moved on site to begin a seven-month ...

Ford closure sends shockwave through manufacturing industry

Thu, 23 May 2013 03:58:47 -0400

Australia Ford's decision to close its Australian plants is sending shockwaves through the manufacturing industry, with fears the initial 1,200 job losses could lead to more retrenchments in the car parts supply industry.Ford Australia president Bob Graziano today announced the car-maker would shut its Broadmeadows and Geelong plants in October 2016, bringing an end to nearly 100 years of ...

Samsung Galaxy S4 record breaking moment Smartphone global sales crosses 10 million in less than a month

Thu, 23 May 2013 03:50:19 -0400

Galaxy S4 smartphon e have crossed 10 million units in less than a month of its commercial launch.The South Korean electronics giant started selling the handset on April 27.To find out more on ...

RPT-Fitch upgrades the national long term rating of BCA Finance to AAA IDN outlook stable

Thu, 23 May 2013 03:50:05 -0400

Thu May 23, 2013 3:50am EDT (Repeat for additional subscribers) May 23 (Reuters) - (The following statement was released by the rating agency) Fitch Ratings has upgraded the rating National Long-Term PT BCA Finance's (BCAF) to 'AAA (idn)' from 'AA + (idn)'with a Stable outlook. Fitch also upgraded the senior bonds currency III/2010 rupiah, IV/2011, continuous bond tranche ...

CORRECTED-Guinea approves BHP Global Alumina stake sale in refinery project

Thu, 23 May 2013 03:48:27 -0400

Thu May 23, 2013 3:48am EDT (Corrects billion to million in paragraph 7) CONAKRY May 22 (Reuters) - The government of Guinea said on Wednesday it has given approval to BHP Billiton and Global Alumina to sell their stake in a bauxite and alumina project to Dubai Aluminium Co (Dubal) and Mubadala Development Co. BHP paid $140 million in 2007 for a 33.3 percent stake in the Guinea Alumina Corp ...

Eurozone manufacturing and services PMIs in focus on Thursday

Thu, 23 May 2013 03:45:26 -0400

European stock indices are expected to open more than 1% lower this morning, after data showed China's manufacturing sector fell into contraction territory in May, following months of slowing growth. The HSBC manufacturing PMI released over night came in well below expectations at 49.6, raising further doubts about the recovery seen in China over the last six months. Falling demand in the ...

Rupee weakens below 56 to over 8-12 mth low on global dollar strength

Thu, 23 May 2013 03:40:16 -0400

Tim Cook’s congressional debut, following an appearance at Obama’s State of the Union address in Feb, shows the iPhone maker can no longer afford to keep the low profile in ...

Congo-Kinshasa On Joint Visit to DR Congo UN and World Bank Chiefs Voice Support for Latest Peace Effort

Thu, 23 May 2013 03:38:10 -0400

In the first visit of its kind, Secretary-General Ban Ki-moon and World Bank President Jim Yong Kim are in the Democratic Republic of the Congo (DRC) to support a recent peace deal and promote economic development in the long-troubled region. "This is a critical moment for the Democratic Republic of the Congo and the Great Lakes region," Mr. Ban told reporters in the capital, Kinshasa, ...

Central Africa World Bank PledgesU.S. $1 Billion to Great Lakes Region

Thu, 23 May 2013 03:38:07 -0400

On the first day of a joint United Nations/World Bank Group mission to the Great Lakes region, the World Bank Group announced $1 billion in proposed new funding to help countries in the region provide better health and education services, generate more cross-border trade, and fund hydroelectricity projects in support of the Great Lakes peace agreement that was signed by 11 countries in February. ...

GLOBAL MARKETS-Shares sink on U.S. stimulus pullback Chinese growth fears

Thu, 23 May 2013 03:27:32 -0400

Thu May 23, 2013 5:57am EDT * World shares fall sharply on fears Fed could taper bond-buying * Weak Chinese factory, euro zone sentiment data add to concerns, * Nikkei falls 7.3 pct, European shares down over 2.0 pct * Yen gains vs dollar and euro, German bonds firm By Richard Hubbard LONDON, May 22 (Reuters) - Share markets fell sharply on Thursday as investors piled back into safer assets, ...

GLOBAL MARKETS-Bernanke and growth fears send shares lower yen up

Thu, 23 May 2013 03:27:32 -0400

* World shares fall sharply after Bernanke comments * European shares fall ahead of May PMIs * Yen strengthens, German bond futures firm By Richard Hubbard LONDON, May 22 (Reuters) - Concerns over the future of the U.S. Federal Reserve's monetary stimulus and weak Chinese factory data sent shares sharply lower and safe haven currencies like the yen higher on Thursday. The shift from riskier ...

Fee income boosts S.Africas Investec FY earnings by 18 pct

Thu, 23 May 2013 03:04:27 -0400

Thu May 23, 2013 3:04am EDT JOHANNESBURG May 23 (Reuters) - South African investment bank and asset manager Investec reported an 18 percent rise in full-year profit on Thursday, boosted by strong income from fees and commissions. Investec, which is also listed in London, said diluted headline earnings per share totalled 30 pence in the year to end-March, compared with 25.4 pence a year ...

Lloyds raises 450 million pounds from St. Jamess Place share sale

Thu, 23 May 2013 03:03:59 -0400

LONDON (Reuters) - State-backed Lloyds Banking Group said it had raised 450 million pounds from the sale of 15 percent of wealth manager St. James's Place to boost its capital.Lloyds said the 77 million shares had been placed at 580 pence per share, a 9.4 percent discount to its Wednesday closing price of 640 pence.After its previous sale of shares in St. James's Place in March, Lloyds ...

Bartow Teen Wins New Ford Mustang From Bartow Ford

Thu, 23 May 2013 03:03:17 -0400

Coffman, 17, of Bartow was the winner of Bartow Ford's 20th annual Drive for Excellence event Saturday.A junior at George Jenkins High School in Lakeland, she won a 2014 Ford Mustang V6 convertible as part of the car dealer's yearly event to honor local students who excel in the classroom."I still can't believe it because I'm 17 and I have a $35,000 car. It's ...

Mayor Rob Ford sidelined as football coach by school board

Thu, 23 May 2013 03:03:01 -0400

Mayor Rob Ford coaches the Don Bosco Eagles football team during the Metro Bowl at the Rogers Centre in Toronto, Nov. 27, 2012. (Kevin Van Paassen/The Globe and ...

Labor coalition clash over Ford

Thu, 23 May 2013 03:01:24 -0400

Labor and the coalition are at odds over how to save the manufacturing industry, after Ford announced 1200 jobs would go when it shuts down its car making in Australia.Extending her sympathy to Ford workers and their families, Prime Minister Julia Gillard on Thursday announced $50 million to support affected workers and businesses in the Geelong and northern Melbourne areas and other parts of the ...

SA finance minister says compromise needed to end mine disputes

Thu, 23 May 2013 02:57:10 -0400

Finance Minister Pravin Gordhan says companies, the government and labour unions need to compromise to end disputes that are halting South African ...

Microsoft takes ‘console wars’ to next league with Xbox One

Thu, 23 May 2013 02:54:34 -0400

Don Mattrick, Microsoft's President of Interactive Entertainment Business, unveils the new Xbox entertainment and gaming console system at an event in Redmond, WA. on Tuesday, May, 21 ...

Its time to put the break on corporate welfare

Thu, 23 May 2013 02:47:53 -0400

We have a moral obligation to assist displaced workers and communities, but corporate welfare for a favoured few - like Australia's car manufacturers - can not be justified, argues Simon ...

Former Dominion Finance chief jailed

Thu, 23 May 2013 02:47:02 -0400

Dominion Finance boss guilty of theft Paul Cropp, the former chief executive of failed lenders Dominion Finance and North South Finance, has been jailed for two years and seven months after being convicted on fraud charges last month. Cropp was sentenced in the High Court in Auckland having been found guilty of four charges leveled by the Serious Fraud Office over related party lending of some ...

Familiar faces worn out places bright and early for the daily races Its a mad mad world

Thu, 23 May 2013 02:39:29 -0400

The new civilian government in Pakistan has to take the army on board before implementing its ideas on the Kashmir issue, Hurriyat Conference Chairman Mirwaiz Umar Farooq has said."It is very difficult for any prime minister in Pakistan to come up with a set of ideas and try to implement it on its own unless and until there is a backing of other institutions in Pakistan," he told a news ...

Bangladeshs garment industry still offers women best work opportunity | Syed Zain Al-Mahmood

Thu, 23 May 2013 02:34:48 -0400

A revised minimum wage could help women working in harsh conditions who have few other places to go, but employers say they are also suffering as a result of disrupted ...

World more dangerous for refugees - Amnesty

Thu, 23 May 2013 02:33:23 -0400

Refugees and migrants are facing increasing dangers, according to a new report from Amnesty International. The human rights organisation says the millions who have fled war or discrimination are being denied their legal entitlements. President of Amnesty International France, Genevive Garrigos says too many countries are violating human rights in the name of immigration control ';The ...

Illinois business urges federal court to lift contraception mandate

Thu, 23 May 2013 02:32:45 -0400

Lawyers for two Roman Catholic-owned companies in Illinois and Indiana argued before the 7th U.S. Circuit Court of Appeals in Chicago on Wednesday that a law forcing them to include birth control in their employees' benefits would violate their First Amendment rights. But in an unexpected twist during a hearing on the merits of a preliminary injunction, the lawyer for the federal government ...

West Aurora school officials likely to avoid prosecution for not reporting sexual abuse allegations

Thu, 23 May 2013 02:32:39 -0400

West Aurora school officials who failed to report a suspicious incident involving a teacher later convicted of sexually abusing two students will avoid prosecution if their school district adopts and follows better reporting practices, Kane County's chief prosecutor said Wednesday.After a 10-month investigation, State's Attorney Joe McMahon said his office and School District 129 have ...

Norwegian company names Indian firm for global cyber offensive

Thu, 23 May 2013 02:29:57 -0400

The high current account deficit will persist as long as we live in a world of low growth - that hurts our exports - and easy global liquidity, which pumps up the oil import ...

Early Survey Shows Contraction in Chinese Manufacturing

Thu, 23 May 2013 02:28:10 -0400

HONG KONG ...

Tanzania Inefficiency At Dar es Salaam Port Costs Billions of Dollars World Bank Says

Thu, 23 May 2013 02:28:04 -0400

Bureaucracy and inefficiency at Dar es Salaam port cost Tanzania and neighbouring countries more than $2.6 billion (4.3 trillion shillings) annually, according to a World Bank report released Tuesday (May 21st). Bringing the port's efficiency on par with nearby Mombasa port could save the government $1.8 billion (2.9 trillion shillings), said World Bank lead economist in Tanzania Jacques ...

RPT-GLOBAL MARKETS-Asian markets sell off on Bernanke remarks China PMI

Thu, 23 May 2013 02:26:26 -0400

Thu May 23, 2013 2:26am EDT (Repeats to more subscribers) * JGBs dive, 10-year JGB yield hits highest since April 2012 * Dollar index hits highest level since July 2010 * Asian shares down after China HSBC flash PMI, credit spreads wider By Masayuki Kitano and Hideyuki Sano SINGAPORE, May 23 (Reuters) - Hawkish comments by U.S. Federal Reserve Chairman Ben Bernanke and weakness in China's ...

BRIEF-Lloyds says St James Place divestment to raise 450 mln stg

Thu, 23 May 2013 02:09:31 -0400

LONDON | Thu May 23, 2013 2:09am EDT LONDON May 23 (Reuters) - Lloyds Banking Group PLC : * Placing of shares in st james's place plc * Gross proceeds of the placing are approximately 450 million * Settlement of placing will take place on 29 may. on completion, Lloyds will hold 110 million st james's place ...

BRIEF-Galliford Trys partnerships business wins work worth 56.3 mln stg

Thu, 23 May 2013 02:09:22 -0400

LONDON | Thu May 23, 2013 2:09am EDT LONDON May 23 (Reuters) - Galliford Try PLC : * Galliford try's partnerships business selected for contracts worth 56.3 million * One Housing Group has chosen Partnerships as the preferred bidder to deliver the 17.8 million Batavia Road scheme in London * the Partnerships business has been selected by clients in the South West, North West and ...

Lenovo shares jump more than 4 percent after earnings beat forecast

Thu, 23 May 2013 01:55:22 -0400

Reuters © A convertible Lenovo Ultrabook is displayed at an Intel news conference during the Consumer Electronics Show (CES) in Las Vegas January 7, 2013. REUTERS/Steve ...

China Manufacturing Contracts As New Orders Slump

Thu, 23 May 2013 01:52:20 -0400

health of the factory sector, fell to a seven-month low of 49.6 in May from 50.4 in April. Readings below 50 indicate contraction of the sector. Economists expected the index to remain unchanged from March's level. New orders decreased in May reversing April's gains, while the rate of decline in export orders slowed. Manufacturers shed jobs at a faster pace this month, the survey found. ...

McNerney Boeing will squeeze suppliers and cut jobs

Thu, 23 May 2013 01:46:22 -0400

Boeing Chief Executive Jim McNerney, acknowledging that "I’m sounding like Darth Vader here," touted plans Wednesday to reduce costs by squeezing suppliers hard and cutting jobs across the ...

Outlook for China’s Economy Worsens

Thu, 23 May 2013 01:43:37 -0400

The unexpected contraction in China's factory activity in May has heightened the risk of a further slowdown in the second quarter, after the world's second largest economy grew at its slowest pace in three years over January to March, said economists. ...

Slaying China’s zombies and righting the economy

Thu, 23 May 2013 01:43:05 -0400

Recent signs show that the Chinese economy, which has maintained double-digit growth for three decades, is slowing down. China recorded its last double-digit growth in 2010. But since then, the annual growth rate has fallen roughly 20 percent (from 10 to 8 percent per annum). The GDP data for the first quarter of 2013, if anything, have raised fresh worries. Instead of expanding at the expected ...

Your photos End of the road for Ford Falcon

Thu, 23 May 2013 01:40:48 -0400

it will close its Australian manufacturing plants in October 2016 , with the loss of hundreds of jobs.Ford president Bob Graziano said approximately 1,200 workers would lose their jobs when the Broadmeadows and Geelong plants were shut down.The decision also means the end of the road for the Ford Falcon, which has been a mainstay of the Australian automotive scene since 1960.Here's a ...

Canada U.S. test at Edmonton rugby park as tune-up for World Cup qualifiers

Thu, 23 May 2013 01:36:46 -0400

Opening game of Pacific Nations Cup runs on Saturday; Canadian manager ecstatic team will ‘get high-quality games’ against Fiji, Tonga next ...

The world’s wealthy ‘could be hiding €707 billion in Ireland’

Thu, 23 May 2013 01:32:01 -0400

THE WORLD'S WEALTHIEST people could have over EUR700 billion hidden from international tax authorities - keeping it shielded in Irish financial institutions. That's according to Oxfam Ireland, which has warned that the new focus on corporate tax avoidance should not distract from the methods used by wealthy individuals to avoid income tax payments. The charity says wealthy individuals ...

Exxon Mobil accused of anti-gay bias

Thu, 23 May 2013 01:26:30 -0400

The complaint, filed Wednesday with the Illinois Department of Human Rights by Freedom to Work, said Exxon was sent two nearly identical resumes for an opening in Illinois. The only major differences: one applicant made clear she was a gay-rights activist, and had higher grades than the other ...

District college notes Penn State’s Agee selected for USA Basketball U19 world championship team

Thu, 23 May 2013 01:26:16 -0400

Candice Agee was selected for the USA Basketball women's U19 world championships team. Agee will play in the FIBA world championships from July 18-28 in ...

Geelong loses icon with Ford shut down

Thu, 23 May 2013 01:21:16 -0400

THE end of local manufacturing at Ford will be a devastating blow for the people of Geelong, but the city will fight on, community leaders say. Ford has been part of the fabric of Geelong since Model T Fords rolled off the production line in 1925. Almost everyone has a link to the car manufacturer. The local MP spent much of his 20s working on the production line. The head of the chamber of ...

Pension plans can make all the difference in retirement

Thu, 23 May 2013 01:18:32 -0400

Pension plans can make all the difference in how financially well off U.S. retirees are, Gallup's annual Economy and Personal Finance survey indicates. The survey of 2,000 U.S. adults, including 636 retirees, conducted April 4-14, found U.S. retirees with $50,000 or more in annual income were twice as likely as retirees below that threshold to have a work-sponsored pension plan as a major ...

Global research team decodesgenome sequence of 90 chickpea...

Thu, 23 May 2013 01:12:14 -0400

Hyderabad, India, and Shenzhen, In a scientific breakthrough that promises improved grain yields and quality, greater drought tolerance and disease resistance, and enhanced genetic diversity, a global research team has completed high-quality sequencing of not one but ninety genomes of ...

Ford grows in America shrinks in Australia

Thu, 23 May 2013 00:45:03 -0400

Ford Motor Co. is adding production, and 3,500 jobs, in North America as it tries to keep up with Americans’ appetite for new cars and trucks. But the automaker will end production in Australia, cutting 1,200 jobs by 2016, as high costs left it unable to ...

Ford jobs couldnt be saved

Thu, 23 May 2013 00:44:43 -0400

Government intervention would not have saved Ford Australia's manufacturing jobs, Victorian Premier Denis Napthine says. Dr Napthine met with Ford representatives on Wednesday and was told there was nothing either the Victorian or federal governments could do to change their decision, he said. "I made it very clear to them: `Is there anything we can do to change the mind of your ...

More job losses likely after Ford Swan

Thu, 23 May 2013 00:44:40 -0400

Treasurer Wayne Swan has warned that Australia faces more job losses following Ford's decision to stop manufacturing in Australia.Ford announced on Thursday morning it will close its Broadmeadows and Geelong factories, both in Victoria, by October 2016 - with 1200 jobs lost.It will also cease making the iconic Falcon model, with Ford Australia CEO Bob Graziano saying it's no longer ...

Ford jobs could not be saved Vic premier

Thu, 23 May 2013 00:44:37 -0400

Vic Ford worker grief over shock shut down

Thu, 23 May 2013 00:44:32 -0400

Victorian Ford Workers are devastated by news the company will shut down its manufacturing sites with fears job losses will gut local ...