Latest Breaking Business News
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If CDFIs are forced to get ruthless social enterprise will suffer
I've worked in the social enterprise sector for 15 years and one challenge that's always been there is doing good and doing well - the balance of delivering social and financial returns.And I don't think it's getting any easier.Take community development finance institutions (CDFIs) as an example. They are social enterprises that deliver ethical financial services to those ...
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Australian shares trim early rally edge higher on Wall St weak $AU
Mon May 20, 2013 2:52am EDT (Adds details, comments) SYDNEY May 20 (Reuters) - Australian shares finished the session 0.5 percent higher on Monday, underpinned by a broad rally as upbeat economic data propelled Wall Street to record highs. Stocks with a large exposure to the U.S. gained on the weaker Australian dollar. The Australian dollar steadied after reaching multi-month lows against the ...
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Ryanair Profit Up 13 But Expects Slowdown
Budget carrier Ryanair has posted record full-year earnings but warned profit growth would slow sharply in the coming 12 months. It expects the slowdown to be caused by weakness in the European Union and high fuel and airport costs. Europe's largest budget airline reported net profit of 569m euros (£480m) for the 12 months to the end of March, up 13%. The full-year return ...
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Tax Havens Cameron Warns Over Transparency
Britain's offshore tax havens have been warned to enforce regulations and improve transparency to avoid evasion by individuals and companies. The Prime Minister has written to nearly a dozen leaders of the havens, stressing the need to "get our own houses in order" as he pushes for international action to tackle avoidance schemes. In a message to 10 crown dependencies and ...
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NY regulator questions investment firms ties to insurers WSJ
(Reuters) - New York's top financial regulator has sent subpoenas to several firms seeking information on investments that guarantee steady payments to hundreds of thousands of retirees and other consumers, the Wall Street Journal said on Monday, citing people familiar with the ...
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Elan strikes more deals agrees second share buyback
DUBLIN (Reuters) - Irish drug firm Elan agreed on Monday to buy two private drug firms, spin-off its one experimental drug and buy back more shares to give a firmer idea of how the company will be reconfigured as shareholders weigh up a takeover ...
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Weak economic data weigh on yields
Sovereign debt markets inched down early in the week but rallied at the end of the week after economic data disappointed - Greek and Portuguese yields declined sharply after the positive assessments from the Eurogroup for both countries, and after Fitch upgraded the Greek sovereign rating to B- from CCC. In the week, the Greek 10Y yield fell by 142bps, while the Portuguese decreased by 21 and ...
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Elan eyes more deals this year with $1 billion warchest
DUBLIN – Elan will still have $1.2 billion of cash left to spend if shareholders approve its first package of acquisitions, and plans to announce more deals in the second half of the year, chief executive Kelly Martin said on Monday. Elan agreed on Monday to buy Austrian rare drug specialist AOP Orphan for 263.5 million euros ($337 million) and pay $40 million for a 48 percent stake in ...
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Wall Street betting on last-minute debt deal
With no political deal in Washington on raising the U.S. debt limit just days before a crucial deadline, investors are increasingly worried about a downgrade of the country's top-notch credit rating, or even an actual governmnent debt default. The U.S. Treasury Department has said the Congress must act before Aug.2 to avoid a catostropic default. With the dealine drawing close ...
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Price of oil falls below $96 per barrel as traders await data Fed chief Bernankes speech
BANGKOK - The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world's two largest economies, and a speech by the Federal Reserve chief. Benchmark crude for June delivery was down 25 cents to $95.77 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange. The contract rose 86 cents to close at ...
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Asian stocks rise on signs of steady US recovery
Investors will have a slew of data to sift through this week, including U.S. homes sales and durable goods orders. Analysts are somewhat pessimistic about the strength of China's recovery but are expecting to see solid improvement in the ...
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Futures Movers Oil prices decline break away from $96
LOS ANGELES (MarketWatch) -- U.S. crude-oil futures slipped Monday, pulling back from gains in the previous session after a firmer view of the economy by consumers raised prospects for energy ...
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Tesco’s clothing brand plans expansion
London - The clothing brand sold by Britain's biggest retailer Tesco said on Sunday it planned to open more than 50 new franchise stores worldwide over the next five ...
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Microsoft organises information technology workshop for students
Accra, May 20, GNA - Microsoft, a global ICT giant, has organised an information technology workshop, to motivate Ghanaian students to develop applications that can be used to solve real life problems in Ghana and the African ...
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Why This Week Could See Start of of Risk-Off
We have seen bouts of reality emerging in phases, which have subsequently been washed over by the relentless search for yield, Slovenia's bond issue last week being a classic example. However, the deteriorating economic and political triggers in Europe appear likely to cause a bout of serious risk-off, starting early this ...
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No Love for Metals - Silver Gets Slammed
. The metal fell victim to heavy selling on Monday, dragging gold down with it, on U.S. dollar strength and as investors turned more cautious on precious metals as an alternate investment, said experts. "We feel silver weakness has been a liquidation trade as investors grow increasingly wary of precious metals and traders are forced to close positions to meet margin calls elsewhere," ...
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Chesapeake Energy hires Anadarko executive as CEO WSJ
APC.N ) as chief executive, filling the post vacated by co-founder Aubrey McClendon, the Wall Street Journal reported, citing people familiar with the ...
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Analysis Shrinking deficit reduces pressure for budget deal
WASHINGTON (Reuters) - The chances of a deal between Democratic and Republican lawmakers that would overhaul the tax system, trim government spending and reform safety net spending programs appear to be ...
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Insight The road to a greener America is littered with road-kill
Apart from the relative success of Tesla Motors Inc in putting nearly 10,000 of its pricey luxury electric cars on the road, the electric vehicle sector has been among the biggest duds in clean ...
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Expectations high for Microsofts next Xbox game system
In this June 18, 2012 photo, Microsoft CEO Steve Ballmer comments on Microsoft Xbox before unveiling its new Surface. With the next Xbox expected to finally be revealed Tuesday at Microsoft's headquarters in Redmond, Wash., anticipation for what the company is planning for the next iteration of its gaming console is higher than Master Chief's last spaceship. (Damian ...
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PRESS DIGEST - Wall Street Journal - May 20
Mon May 20, 2013 1:38am EDT May 20 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. * New York's top financial regulator subpoenaed a handful of Wall Street investment firms about their entries into a corner of the insurance industry that guarantees steady payments to hundreds of thousands ...
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New Xbox will be star of show at Microsoft event
The video-game industry’s health meter is blinking red, and its ammo belt is nearly depleted. Industry players are crawling through the darkness, frantically looking for first-aid kits and new weapons to get back into the action. Down one path a pulsing green light beckons, promising resuscitation, new capabilities and another round of fun. The light is coming from Redmond, where on ...
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SAC Capitals Cohen gets subpoena to testify NY Times
Hedge fund manager Steven A. Cohen, founder and chairman of SAC Capital Advisors, responds to a question during a one-on-one interview session at the SkyBridge Alternatives (SALT) Conference in Las Vegas, Nevada May 11, ...
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A Look Ahead This Weeks ETFs to Watch
Sell in May and go away? Try again next year. After last week's gains, the S&P 500 is sitting on a 4.4 percent gain for the month heading into Monday's trading session. The benchmark U.S. index now resides less than 40 points away from the lofty 1,700 level. Indeed, this rally has plenty of critics, but talk from the naysayers has proven to be cheap and, more importantly, wrong. In ...
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Insight The fight for North Dakotas fracking-water market
WATFORD CITY, North Dakota (Reuters) - In towns across North Dakota, the wellhead of the North American energy boom, the locals have taken to quoting the adage: "Whiskey is for drinking, and water is for ...
Silicon Valley Focus
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Silicon Valley's Expo ambitions
Moffet Field, a fairly unknown former military airbase in Silicon Valley near Mountain View and Sunnyvale, may become the centerpiece of the 2020 World Expo if Governor Schwarzenegger and other advocated of a California bid get their way.
California wants one of its cities to host the 2020 World Expo, the event is a seminal one on the world calendar and is expected to draw in over 70 million visitors to Shanghai, the city currently hosting the exhibition, which last six months. Read more
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