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Dalian Wand Group to enhance UK presence with luxury hotel and yacht unit
LONDON - China's largest premier commercial property and entertainment conglomerate, Dalian Wanda Group Wednesday entered into 320million pounds definite acquisition deal with leading British yacht company, Sunseeker International Ltd, under which Wanda will acquire a majority shareholding of 91.81% in pre-eminent luxury motor yacht manufacturer. Under the agreement, the remaining 8.19% ...
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EU antitrust regulator fines Lundbeck and several generic drug firms
BRUSSELS - European Union in its first case over pay-for-delay deals that held back sales of cheaper generic drugs Wednesday fined Danish pharmaceutical company Lundbeck 93.8 million euros and imposed fines totaling 52.2 million euros on several other producers of generic medicines. The European Commission, the EU's antitrust regulator, said the companies had reached agreements that may ...
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Chrysler to recall 2.7 mn Jeeps but says vehicles not defective
NEW YORK - Chrysler avoided a showdown with the US government by agreeing to recall 2.7 million Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions. Chrysler said it recognised the matter had raised concerns for customers The US company said it had resolved its differences with the National Highway Traffic Safety Administration (NHTSA). The recall affects ...
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Four US mortgage servicers faulted for lapses by settlement monitor
WASHINGTON - Four of the largest U.S. mortgage servicers, including Citigroup Inc (C). and Bank of America Corp., have failed to adequately upgrade their treatment of customers in danger of foreclosure, according to a court-appointed monitor. Bank of America, Citigroup, JPMorgan Chase and Wells Fargo have failed to adhere to some of the new standards set out in a landmark settlement meant to ...
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Spain making progress but requires urgent action to generate growth says IMF
MADRID - Spain risks high joblessness and sluggish growth for years unless its government together with Europe takes "urgent action' to generate growth and jobs, the International Monetary Fund stated Wednesday. "While there are signs the economic contraction may end soon, the outlook remains difficult," IMF said in its annual assessment of the Spanish economy. "But unemployment remains ...
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House to vote on cuts to crop insurance as part of wide-ranging farm bill
WASHINGTON -- The House will vote Thursday on whether to cut federally-subsidized crop insurance that helps farmers when they lose crops or revenue. The amendment by Rep. Ron Kind, D-Wis., would limit government help for crop insurance paid to wealthy farmers and limit the subsidies the government gives crop insurance companies. A vote on the amendment is one of several expected on the ...
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Microsoft makes u-turn on Xbox One features
Microsoft has reversed plans to implement a number of features on its upcoming Xbox One gaming console after a wave of criticism online. The company has initially suggested that the Xbox One could block the use of second-hand games, stopping users from trading in old games or swapping software with friends. Gamers also expressed distaste for a requirement that the console be connected to the ...
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Xbox One U-turn - has Microsoft done enough
Microsoft has responded to global outcry by abandoning plans to require daily online authentication and to restrict sharing of games on its forthcoming Xbox One console. Xbox president, Don Mattrick, said the decision came after 'candid feedback' from gamers - there had been much outcry and talk of boycotting the console. However Microsoft did not move to address concerns over a price ...
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BIS Government must match rhetoric with action on equal pay
Pay Act enshrined in law the principle that men and women doing the same or comparable work should be paid the same amount. Four decades on, we are still waiting for true ...
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Where pampering pooches is providing business opportunities
In a climate of austerity, people may be resigned to curbing their spending on themselves, but they are not prepared to inflict the same frugality on their pets.According to the latest Mintel Pet Food and Supplies report, sales of dog food reached a record 1bn in 2012, a trend driven by growth in the nation's treat culture. Perhaps more tellingly, 66% of pet owners admitted to ...
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Live QA How to pitch to investors
It can be hard to work out what's important when planning a pitch - for example, how important is buying a new suit for the big day? Photograph: David Sillitoe for the ...
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Shares slide after Bernanke hints at end to stimulus - live
The nine-month low raised new fears over the strength of China's economy, which already appeared to be losing some impetus. The flash HSBC Purchasing Managers' Index fell to 48.3 in June from May's final reading of 49.2, which means a sharper contraction in ...
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Thursday Newspaper Review - Irish Business News and International Stories - - June 20 2013
See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management ...
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Microsoft rows back on Xbox One limits
Microsoft has rolled back a much-criticised requirement that its upcoming Xbox One gaming console be regularly connected to the internet, and made clear that there will be no limitations on sharing games.Microsoft has been criticised for vague statements about whether it will allow Xbox One buyers to play secondhand software. Gamers also expressed distaste for a requirement that the console be ...
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Microsoft will pay you to successfully hack Windows
announces that it will be offering direct cash payments"in exchange for reporting certain types of vulnerabilities and exploitation techniques". No, Microsoft has not gone crazy (at least I hope). Companies usually offer such bounty programs for sane reasons -- security and publicity. From a security standpoint, it makes sense for Microsoft to invite people to hack its products. When ...
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European stocks dive at open
(25 mins ago) European stock markets fell sharply in opening deals, in line with a global retreat after the US Federal Reserve signalled it would wind down its massive quantitative easing stimulus programme later this year. In initial trading, London's benchmark FTSE 100 index slid 1.5 percent to 6,253.28 points, Frankfurt's DAX 30 dived 1.69 percent to 8,057.64 points and in Paris ...
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Sony CEO asks for patience as shareholders press on spinoff plan
Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to ...
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Japans Nomura cuts Australian jobs as banks trim costs
Nomura is removing duplication from its equities business after its acquisition of the Instinet trading platform, a source familiar with the process ...
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UK watchdog details bank capital shortfalls
LONDON (Reuters) - Lloyds Bank has a capital shortfall of 8.6 billion pounds, Britain's banking regulator said on Thursday, a day after the UK government signalled plans to return the part-state owned lender to the private sector.The Prudential Regulation Authority said the aggregate capital shortfall at UK five banks at the end of 2012 was 27.1 billion pounds, slightly higher than its 25 ...
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Deputized to provide clarity Bernanke explains Fed plan to scale back bond-buying program
WASHINGTON -- A muddled message from the Federal Reserve has rattled investors for weeks. So Chairman Ben Bernanke tried to set the record straight Wednesday about the Fed's plans to shrink its bond-buying program later this year and end it entirely in 2014 if the economy continues to improve. Wall Street didn't like the content of Bernanke's message -- investors dumped stocks ...
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Prosecutors raid South Koreas nuclear operator as probe widens into fabricated test results
SEOUL, South Korea -- South Korea's sole nuclear operator says investigators raided its offices as part of a probe into nuclear plant cables. Korea Hydro & Nuclear Power Co. spokesman Lee Yoon-dong said Thursday prosecutors seized documents and computer hard drives from offices including its headquarters in southeastern Korea. Prosecutors could not be reached for comment. South Korea ...
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AP PHOTOS For amputees wounds from Bangladesh garment factory collapse will never fade
SAVAR, Bangladesh -- It was the worst disaster in the history of the garment industry. When the Rana Plaza factory building crashed down in April, 1,129 people were killed. But many others had to sacrifice their limbs to survive. Arms and legs were trapped under the building rubble, forcing rescuers with no medical training to perform amputations on the spot to free the victims. No anesthesia ...
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Chinese astronauts twirl gyroscopes strike kung fu poses in students lecture from space
BEIJING -- Astronauts struck floating martial arts poses, twirled gyroscopes and manipulated wobbling globes of water during a lecture Thursday from China's orbiting space station that's part of efforts to popularize the space program among young people. Wang Yaping demonstrated principles of weightlessness and took questions live from among the 330 grade school kids gathered at a ...
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Currencies Dollar climbs in Fed’s wake extends gains vs. yen
LOS ANGELES (MarketWatch) -- The U.S. dollar climbed Thursday, building on gains after the U.S. Federal Reserve said it may slow the pace of bond purchases by the end of the ...
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Futures Movers Oil prices struggle on energy demand Fed worries
LOS ANGELES (MarketWatch) -- U.S. crude-oil futures fell Thursday, as the market grappled with weak manufacturing-activity figures from China, an increase in U.S. oil supply and signaling by the Federal Reserve that a reduction in monetary stimulus is in ...
France Featured
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Mutual importance of Sino-Franco relations
China and France, two major regional powers in Asia and Europe respectively, have long had steady economic relations. Cultural ties have seen a disparity, however, which is perhaps due to the recently unsteady diplomatic relations between the two countries. In the last few months though, there has been a significant improve in this area.
France was one of the first western powers to recognize the People’s Republic of China as a legitimate country and established an embassy in the country before Great Britain, Germany or the United States. Since 2008, however, France has found itself often at odds with the emerging superpower, especially over its One China policy. Read more
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