Latest Breaking Business News
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Energy Department gives nod for more US LNG exports
WASHINGTON - The Energy Department Friday gave a conditional nod authorizing Freeport LNG Expansion, L.P. and FLNG Liquefaction, LLC (Freeport) to set up a second facility for export of domestically produced liquefied natural gas (LNG) to countries that do not have a Free Trade Agreement (FTA) with the United States. The approval means that gas-hungry markets like Japan and India could start ...
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Minor setback reported on Nippon's test flight of Dreamliner
TOKYO - Japan's All Nippon Airways said Friday a modified Dreamliner had suffered a "minor" setback while conducting a test flight of an aircraft this month, but assured it was not due to overheating of lithium batteries. All Nippon Airways, the Japanese airline that is the largest operator of Boeing's beleaguered Dreamliner, said an electric distribution panel overheated and blackened during ...
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Three days after closure Bangladesh factories reopen
DHAKA - Bangladesh has re-opened hundreds of garment factories after just three days of closure following protests over pay and poor work conditions. The Bangladesh Garment Manufacturers and Exporters Association had called for the re-opening on Friday. The shutdown of factories this week was prompted by worker protests over low pay and poor working conditions sparked by the country's ...
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Developing nations set to dominate global investments says World Bank
WASHINGTON - The share of developing countries led by China and India in global investment is expected to triple by 2030 to three-fifths, from one-fifth in 2000, says the latest edition of the World Bank's Global Development Horizons (GDH) report, which explores patterns of investment, saving and capital flows as they are likely to evolve over the next two decades. Seventeen years from now, ...
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Morrisons signs deal to use Ocado logistics facility
LONDON - Morrisons Supermarkets, one of the major British retail chains, has entered into a 170 million pounds and 25-year agreement with Ocado Group plc ("Ocado"), to acquire its recently opened Dordon Customer Fulfilment Centre (CFC) in the Midlands, and lease it back with commitment to use its logistics and distribution facilities to start grocery deliveries to customers by January ...
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Microsoft warns about rise in computer viruses worldwide
A Microsoft security expert said that computer viruses are on a rise worldwide once again after years of being less popular amongst computer attackers. In a report by Fox news, the security expert Tim Rains said that although viruses were less chosen to attack systems by hackers nowadays as they used other forms of threats, but recently Microsoft security has observed that viruses are on a rise ...
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Gran Turismo Wants To Build Real-Life Racer
Video game Gran Turismo could be set to give big brand car makers a run for their money. At a special event to celebrate the title's 15th anniversary, its creator said he hopes the brand will eventually build its own car. "We have big dreams and I think one of those dreams is maybe one day making an actual car," Kazunori Yamauchi told Sky News. Speaking at the Silverstone ...
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US Energy Revolution Gathers Pace
The growing role of the U.S. in world energy markets was underlined on Friday as the Obama administration approved wider exports of liquefied natural gas and international companies committed billions of dollars for new infrastructure. The developments were both consequences of ...
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Northeast Japan Jolted by Earthquake
two nuclear plants in Fukushima reported no new irregularities after the quake, Kyodo news agency said. Onagawa nuclear plant in Miyagi prefecture further north also detected no irregularities, operator Tohoku Electric Power Co said. In Miyagi prefecture, where the shaking was the strongest, there were no information on injuries, Kyodo added. The United States Geological Survey recorded the ...
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Wall Street Week Ahead Correction talk gets old as rally sails along
.SPX 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 ...
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China April housing inflation quickens to two year high
BEIJING (Reuters) - China's housing inflation accelerated to its fastest pace in April in two years, driven by a jump in prices in Beijing and Shanghai, complicating the task of policymakers trying to cool the property sector while supporting economic ...
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Wine what to buy at Tesco
wine . But given that it has 25% of the UK market, one in four of us is likely to be shopping there at any one time.I have well-rehearsed issues with the company myself - the way it bumps up prices to create phoney half-price offers, though it's far from alone in that; the pressure it puts on its suppliers; the fact that the wines I'm most enthusiastic about are often available in only ...
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The womenswear buyer of Asos offers her tips for your summer wardrobe
Emma Fox, womenswear buying director of Asos: 'This year, dungarees are looking like the major festival trend.' Photograph: Maja Daniels for the ...
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EU To Ban Refillable Olive Oil Bottles
Refillable olive oil bottles in eateries across Europe are set to be banned, to stop restaurateurs topping them up with cheaper substitutes. The European Commission said that from 2014, restaurant customers will only be allowed to use oil from non-refillable bottles with proper content labelling. EU spokesman Olivier Bailly said the move is being initiated because consumers often get ...
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Npower feels the heat after accusations of UK tax avoidance
Npower has become the latest firm to feel the heat of a mass consumer boycott after thousands of its gas and electricity customers said they plan to switch supplier to protest at its tax affairs.In April, chief executive officer Paul Massara revealed in the House of Commons that his company had paid almost no corporation tax between 2009 and 2011.When it later emerged that the energy giant had ...
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RBS and NatWest fees revamp penalises authorised borrowers
Millions of NatWest and Royal Bank of Scotland current account customers are to be hit with new charges of up to 72 a year - on top of the interest they must pay - if they go overdrawn by more than just a tenner.RBS, which is 82% owned by taxpayers, is introducing an arranged overdraft fee on 12 July. Some customers with such overdrafts might be annoyed to learn that this fee is in effect being ...
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QA Post Office current accounts
current accounts . It is promising "a fair and transparent way to manage your money", with no hidden charges, and its entry into the market is likely to be welcomed by some of those looking for a more ethical home for their cash.However, ...
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More reports of Emirates delays
we featured the case of JL, from Sheffield who complained that Emirates airline had failed to compensate her for long delays she suffered on a flight to Australia as a result of changing planes in Dubai. The flight leaving the UK was delayed, causing her to miss the onward Emirates leg to Sydney; she eventually arrived 12 hours late.The problems occur ...
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Positive economic news extends stock market rally
NEW YORK - Encouraging news about the U.S. economy extended the stock market's rally Friday.Small-company stocks rose the most, a sign that investors are taking on more risk. Two companies soared in their stock-market debuts in the latest indication that the market for initial public offerings is reviving.A gauge of future economic activity rose more than analysts had expected, as did a ...
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Financial Times Hacked By Syria Group
The website and Twitter account of the Financial Times have been hacked, apparently by activists who support the Syrian government. The Syrian Electronic Army claimed responsibility for the attack, in which the hackers published messages in support of President Bashar al Assad and posted a link to a YouTube video. "Syrian Electronic Army Was Here," the group boasted on one of the ...
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Exclusive EU cites Chinese telecoms Huawei and ZTE for trade violations
By Daniel BasesNEW YORK (Reuters) - Europe's top trade official for the first time late on Friday officially cited Chinese mobile telecommunications equipment makers Huawei and ZTE Corp for violating anti-dumping and anti-subsidy guidelines.European Union Trade Commissioner Karel De Gucht said he was prepared to launch a formal investigation into anti-competitive behaviour by these Chinese ...
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Peace plan at Morgans
Billionaire investor Ron Burkle extended an olive branch to a fellow director of Morgans Hotel Group yesterday in hopes of reviving a bungled plan to take over the hotel chain’s posh Delano property in Miami’s South Beach neighborhood. A lawyer for Burkle’s private-equity firm, Yucaipa, laid out a plan to let the angry director, Jason Kalisman, take the lead in a controversial ...
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Yahoo falls for Tumblr
Yahoo! is considering up to a $1 billion bid for Tumblr, the company that was founded by CEO David Karp and is headquartered in the Flatiron District, according to reports.Word of a potential deal was first reported yesterday by AllThingsD and Adweek.A billion-dollar price tag for the blogging platform that hosts more than 100 million sites would be a reflection of how far New York has come in ...
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Voice axes Musto Feingold
Turmoil continued to grip the Village Voice yesterday with the bouncing of two of its most well-known columnists - Michael Musto, who had penned the gossipy La Dolce Musto for 20 years, and veteran theater critic Michael Feingold.Feingold, a staffer for 30 years, is expected on Monday to host the Obies, the off-Broadway theater awards sponsored by the Voice. "I’m still trying to ...
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Cohen clamming up as Feds circle
Steve Cohen and Uncle Sam are no longer going steady.The hedgie’s SAC Capital yesterday said it will no longer "unconditionally" cooperate with the government’s insider-trading probe. In a brief letter to investors, the $15 billion hedge fund described the coming months as critical, saying it expects "substantially more clarity" into the probe’s impact on ...
Tucson Spotlight
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Tucson redevelopment project hitting obstacles
Downtown Tucson is meant to be the heart of the city, but has suffered due to the emergence of the suburbs and general economic neglect, hence making it the focus of a major revitalization project that aims to breathe new life into the area, however, the road has been uncertain and remains beset with challenges.
In 1999, residents of Tucson voted in favour of the redevelopment plan for downtown, which was to be jumped started with the construction of a new mixed-use development called Rio Nuevo, which would function as both a retail and community hub, complimented by the presence of several new hotels and the Convention Centre, which was to be expanded. Read more
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