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Canada threatens to retaliate against change in US meat labeling rules
OTTAWA - Canada has threatened "retaliatory measures" against the United States move changing the so-called country of origin labeling that would track beef and hogs through the meat processing and distribution systems, stating that it is discriminatory, a view shared by the World Trade Organisation. On Thursday, the United States Department of Agriculture issued a final modification to its ...
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After breaches Twitter beefs up security with two-step login
NEW YORK - Aiming to tackle recent high-profile breaches, popular micro-blogging site Twitter is introducing an optional two-step login for users to beef up security. The new system would try to ensure "it's really you" when a user signs in to Twitter, which transmits some 400 million messages a day. The move follows recent attacks into the twitter accounts of news organisations' such as ...
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Irish biotech firm Elan rejects revised Royalty Pharma bid
DUBLIN/ WASHINGTON Ireland-based biotechnology firm Elan Thursday rejected Royalty Pharma's increased $6.4 billion takeover bid, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one share. Royalty raised its hostile cash bid to $12.50 per share on Monday, from $11.25 previously, but made the new offer conditional on Elan shareholders rejecting, at a ...
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Import alert by USFDA hits Wockhardt shares
MUMBAI - Shares of Wockhardt, one of the leading Indian pharmaceutical and biotechnology companies, witnessed a sharp fall of 20% to Rs. 1,315 ($23.61) on the Bombay Stock Exchange(BSE) on Thursday after the US FDA published an import alert on one of its three manufacturing facilities near Aurangabad. The import alert, 'detention without physical examination of drugs from firms which have ...
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Ford Motor to shutdown 2 units in Australia
MELBOURNE - Ford Motor Company Wednesday announced plans of closing its local manufacturing operations in Broadmeadows and Geelong in October 2016 thereby forcing 1,200 people out of work. Spelling the end of the iconic Ford Falcon in the country, Ford Australia president Bob Graziano announced that the carmaker would shut its Victorian facilities in October 2016, bringing an end to nearly ...
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IMF warns UK against continuing austerity programme
LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...
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Chidambaram says U.S. Federal Reserves statement misunderstood calls for calm
Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves. Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor ...
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Japan Bulls Unwavered by Stock Market Rout
A day after Japanese equities witnessed their sharpest one-day drop in more than two years, investor optimism over the outlook for the country's stock market remains unshaken. "The market was very right for a correction. [But] longer term there is a lot of potential in Japan. Obviously markets don't move in a straight line," David Dietze, president and chief investment ...
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ITC Microsoft Xbox doesnt violate Motorola Mobility patent
Microsoft Corp. did not violate a Motorola Mobility patent when it made its Xbox gaming console, the International Trade Commission ruled Thursday.If the ITC had found that Microsoft infringed, it could have barred the Xbox from being imported into the United States. The fight over the Xbox is related to a larger smartphone patent war between Apple, Microsoft and the mobile phone makers who use ...
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Market Wrap for Thursday May 23 Wall Street Shrugs Off Global Slump
Thursday's trading session may have been the most glaring example of just how powerful the bull market in U.S. stocks is right now. Even though all of the major averages closed slightly lower on the day, the U.S. market was able to shrug off a global rout in stock prices that began with a 7.3 percent crash in the Nikkei. The catalyst for the sell-off in Japan centered on concerns ...
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Worry not Less help from Fed would be good economic news
As the Federal Reserve slows its drive to keep interest rates low, it should be cause for celebration: It would mean policymakers think the economy is strong enough to accelerate with less help from the ...
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Japan Nikkei Plunge Wont Derail Abenomics
The biggest plunge in Japanese stock prices since a 2011 earthquake and tsunami was a temporary pullback that will not derail the government's "Abenomics" policy of loose money and fiscal stimulus, officials said on Thursday. "It's a temporary adjustment after the rapid gains seen recently," Yasutoshi Nishimura, senior vice-minister of the Cabinet Office, told ...
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Procter Gamble brings back former CEO to fix company
PG.N ) on Thursday brought back A.G. Lafley to run the world's largest household products maker, replacing Bob McDonald immediately in the midst of a major ...
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Google like Facebook in talks to buy Waze for about $1 billion report
(Reuters) - Google Inc is considering buying Israeli mobile satellite navigation start-up Waze Inc, which may lead to a bidding war with Facebook Inc, Bloomberg news reported, citing people familiar with the ...
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Wall St. bucks global slump
Nikkei plunged 7.3% on Thursday. Investor jitters then spilled over into Europe, where major stock indexes dived 2%. Wall Street opened deep into the red, with major indexes initially falling about 1%. The Dow Jones industrial average sunk more than 100 points shortly after the opening bell on the New York Stock Exchange. But as trading continued, investors flocked back, paring the day's ...
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Rio Tinto Begins Cutting Jobs at Utah Copper Mine After Slide
Rio Tinto PLC (RIO.LN) has cut about 100 jobs at its copper operation in Utah and warned further positions will be cut later this month as it moves to reduce operating costs after a large part of the pit wall collapsed at its Bingham Canyon mine last month.The London-based company's Kennecott Utah Copper unit in a statement Thursday said it continues to take steps to reduce the impact on ...
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ASIA MARKETS Japan Stocks Recover Modestly After Steep Sell-off
HONG KONG – Japanese stocks jumped Friday to stage a modest recovery, with relief buying emerging after the extreme losses they suffered the previous day, amid expectations that the rally that began late last year may have further to go.The Nikkei Stock Average climbed 3% after diving 7.3% in the previous session, while the broader Topix advanced 2.6% after Thursday's 6.9% ...
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RPT-Hong Kong shares to open flat Lenovo jumps after earnings
Thu May 23, 2013 9:28pm EDT HONG KONG May 24 (Reuters) - Hong Kong shares are set to open flat on Friday, with PC maker Lenovo Group Ltd up 4 percent to be the top percentage gainer among Hang Seng Index components, extending gains after it reported a forecast-beating quarterly profit. The Hang Seng Index was set to open flat at 22,679.36. The China Enterprises Index of the top Chinese listings ...
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Hamlin takes Coca-Cola 600 pole with record lap
Danica Patrick looks on as crew members work on her car during practice for Sunday's NASCAR Sprint Cup series Coca-Cola 600 auto race at Charlotte Motor Speedway in Concord, N.C., Thursday, May 23, ...
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Hewlett-Packard profit down 32
Hewlett-Packard Co raised its 2013 earnings outlook after quarterly results beat low expectations , as CEO Meg Whitman's turnaround plan helped offset shrinking personal computer sales with enterprise computing services. While fiscal second-quarter profit plummeted 32 percent ...
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In risky new tack Microsoft stacks Surface against iPad
(Credit: Microsoft) Microsoft's "iPad vs. Windows" campaign now includes iPad vs. Surface RT. Is Microsoft picking the right fight? On the back ...
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Sears losses mount weighs sale of unit to shore up liquidity
Some on Wall Street saw D'Ambrosio's departure as adding to Sears' risks, and worried that Lampert's lack of retail sales experience could hurt the company's attempt to turn around its core Sears department stores and Kmart ...
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U.S. options clearer moves to end trade type dominated by Nasdaq
SAN FRANCISCO (Reuters) - The clearinghouse for all stock options said Thursday it will adopt a policy aimed at abolishing a dividend-linked trading strategy that critics say could destabilize markets if left ...
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Salesforce.coms quarterly results disappoint Wall Street
Salesforce.com Inc's quarterly earnings and outlook disappointed investors as costs rise following a spree of acquisitions, sending its shares lower. Under Marc Benioff, Salesforce's CEO and founder, the company's fast revenue growth has made it a favorite with investors eager to own part of the growing trend among businesses to outsource their information technology needs - from ...
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Fed Fears Shake Global Markets but Fade on Wall St.
Investors are contemplating a future without support from one of the biggest engines of the global economy in recent years: the Federal Reserve. Fears that the Fed is about to reduce its stimulus helped send stock, bond and currency prices on a wild ride on Wednesday and Thursday, with Japanese stocks experiencing their worst one-day decline since the 2011 tsunami and United States ...
San Jose Featured
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San Jose council approves potentially flawed housing development
A housing development in San Jose is becoming increasingly controversial as members of the public have accused the San Jose City Council of violating its own environmental policies with regards to residential developments in the city.
The contention revolved around a 15 acre housing project that will see 89 homes built at the edge of Guadalupe Creek in the south of the city. The site on which the development will take place is a largely underdeveloped area containing, among other things, an unsightly asphalt car park. Read more
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