Latest Breaking Business News
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China blamed for most intellectual theft
Intellectual property theft is supposedly costing the United States more than US$300 billion each year. A study in the US has shown this is equivalent to all US exports to Asia. The 11-month study by a Congressional Commission found that software and other product theft was on an unprecedented scale. Commission co-chair Jon Huntsman, the former US ambassador to China, told reporters the ...
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Venezuela vows to solve toilet paper problem
The Venezuelan government has vowed to end a toilet paper shortage in the country. With the commodity in high demand, Venezuela's National Assembly has said it will agree to the importation of 39 million rolls of toilet paper. Toothpaste and soap are also on the Venezuelan shopping list following a chronic shortage brought on by currency controls, which have restricted the landing of ...
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Forbes magazine praises powerful women
Forbes has listed the world's most powerful woman for 2013 as Angela Merkel. She has become Forbes' number one for the 8th time. This year the list featured 8 heads of state, including the German Chancellor. Other women listed were two new billionaires to the list, women's clothing designer Tory Burch and Spanx's Sara Blakely, who both own their own companies. They were two of 24 ...
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June 28 to see News Corp split into two companies
WASHINGTON - Rupert Murdoch's News Corporation Friday announced the planned separation of the $76-billion conglomerate into two distinct publicly traded companies, with one to be renamed 21st Century Fox and the publishing firm to retain the News Corp brand. The split has been formally approved by the Board of Directors. The Company announced appointments to the Boards of Directors of both ...
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Vatican Bank seen to be more controlled
The Vatican Bank has been the subject of a 10 page report from its newly formed financial watchdog agency. The report has revealed that there were some attempts last year to use the bank to launder money. In 2012 there were six suspicious transaction reports, two of which were passed on to Vatican prosecutors for investigation. Autorita Informazione Finanziaria, the watchdog, was ...
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Dubai retailer MAF eyes at least $500 million from hybrid bond
DUBAI (Reuters) - Dubai mall developer Majid Al Futtaim Holding (MAF) is looking to raise at least $500 million from the issue of a hybrid debt sale to finance its buyout of French hypermarket chain Carrefour's ...
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BOJs Kuroda says pain from bond yield rise is manageable
TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said the country's financial institutions have sufficient buffers against losses they may incur from rises in bond yields, as long as the market moves are driven by prospects of an economic ...
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Alcoa employee devoted to job community
Friday was to be his company retirement party at Alcoa Technical Center in Upper Burrell, where he worked for almost 36 years. Bergstrom most recently was the manager of Buildings and ...
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United earnings still on the rise
PARKERSBURG- United Bank had another successful year in 2012 as it continued to increase earnings to shareholders, the chairman and CEO told shareholders Monday. United Bankshares Inc. officials, at the annual meeting of shareholders Monday at the Blennerhassett Hotel, said the company was able to continue to thrive in the economic conditions brought on by the Great Recession of 2008. "We ...
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High-end lake homes are now hot property
In Cass, St. Louis, Otter Tail and Aitkin counties -- the most active lake home markets in the state -- the average price has increased 3 to 5 percent since last spring, according to Trulia, a national real estate research and listings firm. But it's the high-end vacation home that is seeing the biggest increase in ...
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Tim Cook gets the job done
to replace him as CEO has had many people questioning his judgment - that is, until last week. Although Jobs groomed Cook for years, Cook’s public persona often fell flat: His attempts at mimicking Jobs’ much-watched keynotes came off as one-notes.The fact that Apple stock has skidded 21 percent in the past year added to the perception that Cook might not be up to the job. That image ...
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Use data plan more but pay carrier less
TECH CORNER Are you constantly going over the limit of your cellphone’s data plan and then having to pay for the overages? You might want to check out Onavo Extend, a mobile app that compresses your data, allowing you to do five times more with your phone on your current plan.The app takes data you receive from the Internet and compresses it in Onavo’s cloud-based service. That ...
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Mr. Chairman who will take Fed’s place
Jonathon M. Trugman If not Fed chief Ben Bernanke, then who will provide the more than $1 trillion liquidity the global financial markets need to continue making record highs?The Fed giveth, but given last week’s testimony and minutes from the central bank and its leader, it could taketh it away.And as with the charge levied against JPMorgan CEO ...
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Everybody’s streaming so where’s the money
The fat lady has yet to sing, and the competition to capitalize on the digital music-streaming industry is far from over, especially with the likes of Google and Apple joining the ranks in the wake of pioneers like Spotify’s Daniel Ek.The number of users and amount of revenue in the industry are on the rise. Music-industry source IFPI reports that global revenue from digital music for ...
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Tescos supply chain shake-up to cut out middlemen
TESCO is undertaking a 'forensic' examination of its entire supply chain in the wake of horse-gate and will remove anyone in the chain who it does not believe is adding value. The retailer's technical manager Tim Smith said its supply chain was too often confused by middlemen.Mr Smith told a seminar organised by analysts Shore Capital in London: "If I cannot explain what ...
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Kasey Kahne of Enumclaw is eager to defend his Coca-Cola 600 title | Auto racing
CONCORD, N.C. — The Coca-Cola 600 is a long day that bleeds into a long night. Drivers can either fight that reality or embrace it. Count defending champion Kasey Kahne of Enumclaw as someone who loves the longest race of the NASCAR Sprint Cup Series season. "I've always really liked the longer races," Kahne said. "It gives you more time to work on your car, more time ...
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General Mills rides snack boom
Green Giant is synonymous with vegetables, from broccoli to beans. But General Mills is expanding its venerable brand to the burgeoning "veggie chip" ...
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Plymouth company helps hospitals get cash for old equipment
Peter Robson has built a thriving business based on his simple prescription for hospitals and clinics: “Only buy what you ...
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Big ideas small office
The small operation still works with big clients such as Best Buy, Lowe's, Burger King, Macy's and Apple as well as smaller ones such as Nice Ride in Minneapolis. The firm recently attracted the attention of Fast Company magazine and biz whiz authors Dan and Chip Heath in their book "Decisive: How to Make Better Choices in Life and Work." Both were interested in Hughes' ...
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Levin A template can lead to better decisions
We make decisions all the time. Do I move? Change jobs? Have kids? Eat out? Get my prerequisites at a junior college and transfer to a university to finish my degree? Get out of the market? Buy long-term care ...
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Home remodeler Whole Builders has thrived in Minneapolis by offering thrift flexibility
Left to right, Leilani Hotaling and Kaaren Howe, both owners of Minnetonka Animal Hospital, and Marcia Bethke, Mary Jane Heinen and Keith Savaire of Whole Builders in the lobby of Minnetonka Animal Hospital last week. Whole Builders carried out the renovation of the animal hospital in ...
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U.S.-South Korea trade deal produces weak first-year results
More than a year after it took effect, a highly touted trade deal with South Korea has failed to produce as expected for the United States. Exports are down, imports are up and the trade deficit with the Asian economic powerhouse has ...
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Retirement could be bummer for many boomers
The Great Recession saw unemployment rates double and a housing bust that proved far stronger and lasted much longer than anyone had expected. Through it all, retirement savings plans took a major ...
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Neurotech industry is putting its mind to video games
In the past decade, video games have helped push cutting-edge technologies such as sensor-based computing - Nintendo’s Wii - and gesture-based computing - Microsoft’s Kinect - into the mainstream. Neurotech boosters hope video games can do the same for their budding ...
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Gadgets Plyr1 gaming headset
Like other headsets in this line, the Plyr1 (pronounced "player one") is designed for casual gamers. At $180, it's more expensive than rivals, but it does offer a few ...
Iran Focus
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Iran will have men in space within ten years
Iran will have astronauts in space within the next ten years, according to government officials who recently revealed to Iran news media the Iranian Space Agency’s long-term space objectives.
Iran has pursued an ambitious space program in recent years, entering the so-called ‘Asian Space Race’ and launching the country’s first rocket in 2004, followed in 2009 by the launch of an entirely domestically-built satellite, thereby becoming the 9th country in the world to have achieved orbital-launch capability. Read more
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