Latest Breaking Business News
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Workers demand more action from Italian government
Protesters marching in the tens of thousands rallied in Italy on Sunday to rail against the policies of the new coalition government. Around 100,000 protesters, led by trade unionists, converged on Rome to wave red flags and placards, urging changes to austerity measures. The union-led crowd called for the new government of centre-left Prime Minister, Enrico Letta, to focus on job ...
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Americans find happiness in household wealth
Americans are at their most optimistic since 2007 according to a Thomson Reuters/University of Michigan index of consumer sentiment. The preliminary index has shown optimism increased to 83.7 in May as stocks surged and real estate climbed. With record stock prices boosting household wealth and unemployment down in some areas, consumers were able to see their way through the effects of ...
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Hackers take on Financial Times web site
Britain's Financial Times was hacked last week by a mysterious group calling itself the Syrian Electronic Army. The newspaper's technology blog was hacked to display a slogan saying: "Hacked by the Syrian Electronic Army." Several Twitter feeds run by the Financial Times were also plastered with similar slogans. The FT later said its blogs and social media accounts had been compromised ...
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Hackers get into important Saudi websites
The Saudi Arabia state news agency has reported a coordinated attack on the country's government websites. Several government websites in Saudi Arabia came under heavy cyber attacks last week, shutting them down for a short time. The attacks have been traced to IP addresses from a number of countries. Saudi investigators found the attacks had been launched from hundreds of Internet ...
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Digital world creeps up on Target
Target Corp has opened a new office base in San Francisco in order to discover technology ideas. With the second-largest US retailer trying to grow its online commerce business, a Technology Innovation Center has been set up to develop mobile commerce, which has become a particular focus of retailers because new technology allows people to use their mobile devices to shop. With a huge ...
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SUV passengers more likely to survive crashes
Passengers in SUVs are now known to be more likely to survive a serious crash. A new study conducted by the University of Buffalo in the US has found the driver of the SUV is as much as 10 times more likely to survive in a head-on collision where a passenger car is involved. While automakers have taken steps to improve safety in normal passenger cars, such as changing bumper designs on ...
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Letta says perks will be stopped
Italy's coalition government has promised to abolish some salaries and perks which are handed out to government ministers. A controversial property tax will also be abolished, or frozen, by the new government of Enrico Letta, who has also promised to do away with the double salary received by some parliamentarians. Before the election, it had been mooted by Letta's coalition partners that ...
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Famous artists bring big money at auction
Paintings by Jackson Pollock, Roy Lichtenstein and Jean-Michel Basquiat smashed all previous auction records at Christie's in New York during the week. In fact, several works by popular artists brought extraordinary prices. The items made $495 million for their owners at the valuable sale of postwar and contemporary art at Christie's. However, a single Andy Warhol Painting of Marilyn ...
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Lower charges expected for Thai 3G users
3G operators in Thailand have all agreed to cut their tariffs. The Thai National Broadcasting and Telecommunications Commission has been pressuring providers to lower all their 2G and 3G tariffs by 15%. The three 3G mobile operators, Advanced Info Service, Total Access Communication and True Move have said they will launch new 3G tariff packages to reflect the request by government. It ...
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Spain sees rise in surplus
Spain has reported a trade surplus, the first since 1971. With imports slumping due to austerity measures, the first monthly trade surplus for more than 40 years is being seen as a positive development. However, the country is still suffering from an economic downturn with unemployment in Spain now running at 26.7%. The surplus of 634.9 million euros in March reflects a 15% plunge in ...
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Yahoo board approves $1.1B deal to buy Tumblr report
The Yahoo board has approved a massive $1.1 billion all-cash deal to buy Tumblr, sources said.Sources close to the board said the deal was a foregone conclusion and was an unanimous vote by the Silicon Valley Internet giant.The deal will be announced Monday morning, said numerous sources.AllThingsD.com initially broke the story of the acquisition efforts and later followed up with details of the ...
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Debenhams backs fair treatment of models
models , with the chief executive, Michael Sharp, calling on others to follow suit.The decision to offer fair treatment to the women and men it uses in its advertising comes a month after Vogue also signed the 10-point plan agreed with the models' union Equity.Sharp said: "Fair treatment of everyone who models for us has always been a priority. The code firmly cements our ambition. We ...
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Yahoo Agrees to Buy Tumblr Report
, according to a report in The Wall Street Journal. According to the report, the transaction will be made in all cash. Neither Yahoo nor Tumblr released official statements. A Yahoo spokeswoman, contacted by CNBC, would neither confirm nor deny the ...
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Stocks on a roll Yahoo Microsoft stoke appetite
) is holding an event in New York City on Monday evening, at which many are speculating the company could announce a deal with the social blogging platform Tumblr. Reports surfaced last week that Yahoo CEO Marissa Mayer is said to ...
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South Africa Mine Union Submits Demand for Higher Wages
South Africa's National Union of Mineworkers said Sunday that it had submitted a demand for upcoming gold and coal-sector wage talks, kick-starting what is likely to be a fraught process.The union said it's demanding a 15% wage increase for skilled mine workers and for entry level miners, who work underground and on the surface, to have wages raised to between 7,000 rand and 8,000 rand ...
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Tesco clothing brand to expand
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 years.F&F, which opened its first franchise store in Saudi Arabia last year, said it would open shops across the Middle East and in Kazakhstan, Georgia, Armenia and Azerbaijan.Up to six stores will be opened this year, with the ...
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BUSINESS Full Page Bankia compensation qualms signal loss of faith in Spains banks
MADRID - Many duped savers at Spanish lender Bankia are shunning a state-monitored compensation scheme in favor of expensive lawsuits, prolonging a mis-selling scandal and complicating efforts to restore faith in the banking system. The disputes over mis-selling at Bankia and other nationalized ...
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UK lawmakers consider probe into transparency of mining firms
LONDON (Reuters) - Britain's parliament will this week consider whether to probe the transparency of oil and mining firms listed in London, an issue highlighted by corruption probes at emerging market miners which lawmakers fear have dented the stock market's ...
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RPT-Wall St Week Ahead Correction talk gets old as rally sails along
Sun May 19, 2013 11:28am EDT By Angela Moon NEW YORK May 19 (Reuters) - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old. Concerns about a technical correction have been a hot topic for weeks, especially as the rally accelerated in May - the ...
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Goldman Sachs Chief Confident Euro will Survive - Report
The chief executive of Goldman Sachs (GS), Lloyd Blankfein, is confident the euro will survive despite the debt crisis, he said in an interview with newspaper Welt am Sonntag."Naturally we are looking at a very difficult situation, but the euro has always been a political project, and that remains intact," Mr. Blankfein said. "Of course I believe in the euro. The risk that euro ...
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Analysis Airline emissions deal may not come before EU deadline
(Reuters) - Hope is fading for a global deal to regulate the airline industry's greenhouse gas emissions ahead of a fall deadline, even though failure could push the industry back to the brink of a trade war over the European Union's emissions trading ...
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Analysis Frontier Markets booming but risks mounting
NEW YORK (Reuters) - With the world's biggest central banks driving yields on safe assets to near zero, some investors are tossing caution to the wind and rushing to buy illiquid and previously overlooked bonds sold by countries with no capital markets track ...
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German minister calls EU move on China solar grave mistake
Reuters © Germany's Vice Chancellor and Free Democratic Party (FDP) Chairman Philipp Roesler attends the second day of an extraordinary FDP Party meeting in Nuremberg May 5, 2013. REUTERS/Kai ...
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Tesco clothing brand plans international expansion
said on Sunday it planned to open more than 50 new franchise stores worldwide over the next five years.F&F, which opened its first franchise store in Saudi Arabia last year, said it would open shops across the Middle East and in Kazakhstan, Georgia, Armenia and Azerbaijan.Up to six stores will be opened this year, with the first in the Kazakh capital Astana next month.F&F gave no details ...
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U.S. job market gains could lead Fed to taper QE3 early
By Ann Saphir and Jonathan Spicer (Reuters) - The beginning of the end of the Federal Reserve's massive bond-buying program might come sooner than many investors think if recent gains in the U.S. labour market do not prove fleeting. Much will ...
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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