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Need more positive signs before scaling back stimulus, says Bernanke

Wed, 22 May 2013 17:25:11 -0400

WASHINGTON - Chairman of the Federal Reserve, Ben Bernanke Wednesday said it was too soon to scale back the monetary stimulus and the central bank needs to see further signs of traction before taking a decision. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain ...

April sees Japan trade deficit jump to 879.9bn yen

Wed, 22 May 2013 16:52:11 -0400

TOKYO - Japan's trade deficit rose substantially more than expected in the month April to 879.9 billion yen ($8.6 billion), which is a 70% jump over the trade deficit during the corresponding month a year earlier, the Finance Ministry said Wednesday.. The deficit, for the tenth consecutive month, was wider than what many economists had forecast. A survey from the Nikkei business daily ...

Breakthrough research shows Vit C kills drug resistant TB

Wed, 22 May 2013 15:56:35 -0400

WASHINGTON - Adding vitamin C to existing tuberculosis drugs regime could shorten the therapy for drug resistant TB, claims new research findings published in the online scientific journal Nature Communications. The striking discovery, by researchers at Albert Einstein College of Medicine of Yeshiva University, has determined that vitamin C kills drug-resistant TB bacteria in laboratory ...

UK urged by IMF to bring forward high value spending

Wed, 22 May 2013 15:53:31 -0400

LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...

US delegation to urge labour reforms in Bangladesh

Wed, 22 May 2013 15:50:14 -0400

DHAKA - A high level US delegation led by the State Department's Under Secretary for Political Affairs Wendy Sherman will visit Bangladesh this weekend to press for a major overhaul of labour safety regulations following the nation's deadliest industrial accident, an official said Wednesday. The collapse of a nine-storey factory complex housing several garment units outside the capital last ...

One trillion euro tax evasion to be tackled says Barroso

Tue, 21 May 2013 16:12:09 -0400

BRUSSELS - Voicing concern about tax evasion that is estimated at one trillion euros, European Commission President Jose-Manuel Barroso said Tuesday that EU leaders will meet at a one-day summit on Wednesday to negotiate solution. The European Union can't afford to let tax evasion go on the way it is. Such large amounts of money, currently sitting in tax havens, would be greatly beneficial ...

Overall economy likely to pick up in Q2 says German central bank

Tue, 21 May 2013 16:04:27 -0400

FRANKFURT - Germany's central bank Deutsche Bundesbank expects the country's economy to improve "markedly" in the second quarter relying on signals of pick up in industrial orders and likelihood of weather related downturn in construction sector no longer impacting investment sentiments a development that could boost the wider eurozone as it struggles to get out of recession. "Overall ...

Work starts on creation of new Dubai island

Mon, 20 May 2013 04:26:18 -0400

Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...

Housing market picking up in UK

Tue, 21 May 2013 16:23:44 -0400

LONDON - The UK housing market seems to be picking up with gross mortgage lending up 4.3 per cent in April over previous month to 12.1 billion pounds, the highest in over four years, according to the Council of Mortgage Lenders (CML). The mortgage lending was 21% higher than April 2012, but this data is skewed by the end of the stamp duty concession on 24 March, 2012. Under the stamp duty ...

Microsoft launches all-in-one home entertainment system Xbox One

Wed, 22 May 2013 03:40:02 -0400

Microsoft has unveiled its latest video gaming console 'Xbox One' which is believed to transform games, TV and entertainment for the 21st century living room. The latest console reportedly promises a vision of the future. According to a report by the Mirror, 'Xbox One' will allow users to turn on the device with words like "Xbox On", and "snap" will allow users to watch two things at once. ...

Microsoft unveils new all-in-one Xbox console

Wed, 22 May 2013 03:10:01 -0400

Microsoft unveiled a new Xbox console Tuesday that represents a major upgrade on the US-market-leading Xbox 360 model. The president of the IT giant's Interactive Entertainment Business, Don Mattrick, revealed the hi-tech Xbox One entertainment and gaming console during an event at Microsoft's Redmond, Washington, campus. The Xbox One was presented as an all-in-one system for gaming, watching ...

Executives decry pressure of ‘short-termism’ in earnings targets

Wed, 22 May 2013 18:57:52 -0400

Senior corporate executives say they have faced growing pressure in the past five years to meet short-term earnings targets, leading to a new campaign to urge shareholders to take a longer-term outlook for stocks they own.The heads of the Canada Pension Plan fund and international consulting firm McKinsey & Co. told a Toronto audience Wednesday they are launching a campaign to convince ...

Renting better than buying in the Twin Cites

Wed, 22 May 2013 18:56:36 -0400

Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Janet ...

San Onofre execs in Star Trek parody

Wed, 22 May 2013 18:56:11 -0400

Ross Ridenoure (center facing right), chief nuclear officer of the San Onofre nuclear power plant, and workers stood by one of the two new generators that will be installed in the complex. (Charlie Neuman / ...

Ben Bernanke tells bulls what they want to hear

Wed, 22 May 2013 18:48:46 -0400

Ben Bernanke's statement suggests the prospect of an imminent change of policy by the Federal Reserve is unlikely. Photograph: James Berglie/ZUMA ...

QA with a London derivatives trader | Joris Luyendijk

Wed, 22 May 2013 18:48:44 -0400

interviewee who specialised in shares (equity) and who was lamenting the rise of derivatives - financial products such as options, swaps and futures that can be almost infinitely more complex than simple shares. Today's interviewee is one such derivatives ...

Wal-Mart plans to send automated shopping lists to its mobile app

Wed, 22 May 2013 18:46:28 -0400

IDG News Service - Wal-Mart plans to use big data about a customer's usual shopping to automatically create shopping lists for them on its mobile app. That's one of the tools the world's largest retailer plans to use to improve the in-store shopping experience as it looks to mobile-influenced purchases outpacing e-commerce sales, said Gibu Thomas, Wal-Mart's global head of ...

Wal-Mart Using Big Data to Power Mobile

Wed, 22 May 2013 18:46:22 -0400

Wal-Mart wants to tell you what to buy on your mobile device and it's using its massive collection of data to make it a reality. "Our mobile strategy is as simple as it is audacious. We want to make mobile tools that become indispensable for our customers while shopping in our stores and online," said Gibu Thomas, global head of Wal-Mart's mobile division, on Wednesday at the ...

Tesla Pays Off $465 Million DOE Loan

Wed, 22 May 2013 18:46:21 -0400

Tesla has become the first automaker to repay its loan under the Energy Department's Advanced Technology Vehicle Manufacturing program. In a statement issued after the money had been wired, Tesla CEO Elon Musk said, "I would like to thank the Department of Energy and the members of Congress and their staffs that worked hard to create the ATVM program, and particularly the American ...

DryShips posts another loss expects rates to remain weak

Wed, 22 May 2013 18:34:16 -0400

DRYS.O ), a drybulk shipper and offshore contract driller, posted a sixth straight quarterly loss and said it did not expect charter rates to improve this ...

Midwest gasoline prices expected to cool after spike

Wed, 22 May 2013 18:34:10 -0400

(Reuters) - Gasoline prices in the Midwest should fall in the coming days after hitting record highs in several cities last week in the run up to Memorial Day, the traditional start to the summer driving season, traders and industry analysts said on ...

LyondellBasell Raises Dividend by 25 Approves Share Buybacks

Wed, 22 May 2013 18:31:11 -0400

LyondellBasell Industries NV's (LYB) board has raised the plastics and chemicals company's quarterly dividend by 25% and approved the repurchase of up to 10% of its stock over the next 12 months, moves to increase shareholder return.The dividend increase to 50 cents a share will cost the company about $57.5 million more a quarter, based on roughly 575 million shares outstanding as of ...

Whole Foods says grocer wants to open 40 more stores in Canada

Wed, 22 May 2013 18:29:49 -0400

MONTREAL - U.S. grocer Whole Foods Market Inc. says it could open 40 or more stores and tally $1-billion in annual sales in Canada as part of a wider expansion that continues unabated. ';By the time we actually get to the place of being able to open those stores, I expect the market will continue to evolve,'; company co-chief executive John Mackey told reporters at a business ...

‘Get ready to deal with fear’ CP Rail chief Harrison fires back at union critics over safety concerns

Wed, 22 May 2013 18:29:48 -0400

Hunter Harrison, Canadian Pacific Railway Ltd. chief executive, fired back at some of the railway's union leaders Wednesday after they expressed concerns this week that a restructuring underway at the railway may be contributing to several high-profile derailments, including one in Saskatchewan on Tuesday that spilled more than 68,500 litres of crude oil on the ground before it was ...

Assessing Detour Gold’s $153-million bought deal

Wed, 22 May 2013 18:29:48 -0400

There's a lot of wouldas, couldas and shouldas about the $153-million bought deal financing for Detour Gold that came to the market late Tuesday afternoon. That deal, which came a day after the shares hit a recent six-month low, was priced at $8.75 a share, or more than 5% below its then trading price of $9.23. The deal also broke a steady Detour Gold financing strategy: always finance at ...

Amys Baking Company could face legal nightmare

Wed, 22 May 2013 18:28:40 -0400

(MoneyWatch) For those with a taste for reality TV, business or even disaster movies, Amy's Baking Company has become a sight to behold. A disastrous appearance on the show "Kitchen Nightmares" was quickly followed by ...

Hewlett-Packards Q2 profit falls by $516 million

Wed, 22 May 2013 18:27:35 -0400

Hewlett-Packard Co. reported a second quarter profit of $1.1 billion, down $516 million, or 32 percent from the same quarter a year earlier. Palo Alto-based HP (NYSE: HPQ), led by ...

US stocks fall as market eyes possible Fed retreat

Wed, 22 May 2013 18:24:33 -0400

Trader Kevin Lodewick works on the floor of the New York Stock Exchange in this May 2, 2013, file photo. US stocks Wednesday, May 22, 2013, ended lower following a choppy day of trading as the market weighed exit signals on the Federal Reserve’s exceptionally loose monetary policy. AFP PHOTO/RICHARD DREW NEW YORK--US stocks Wednesday ended lower following a choppy day of trading as the ...

Hewlett-Packard sees profit drop but beats expectations

Wed, 22 May 2013 17:49:23 -0400

A Hewlett-Packard logo is seen at the company's Executive Briefing Center in Palo Alto, California in this January 16, 2013, file photo. Hewlett-Packard Co's quarterly profit slid 32 percent but the world's largest personal computer maker raised the lower end of its full-year outlook as revenue from services to corporations slightly offset shrinking PC sales in the second quarter ...

ValueVision has first quarterly profit in seven years

Wed, 22 May 2013 17:47:50 -0400

Eden Prairie firm, better known as the TV channel and website ShopNBC, earned $1 million, or 2 cents a share, in the first quarter its first quarterly profit since 2006. "We cut costs and managed carefully," said Bill McGrath, chief financial officer, in an interview Wednesday. The firm reduced several lending agreements to one, and expanded its revolving line of credit to $50 million ...

San Diego top Memorial Day destination

Wed, 22 May 2013 17:47:27 -0400

Expect a busy Memorial Day weekend as millions of Southern Californians hit the road, many of them opting to stay in San Diego, reports the Automobile ...

Wal-Mart Hires a New Chief Image Maker

Wed, 22 May 2013 17:44:57 -0400

The company, the nation's largest retailer, announced on Wednesday that Dan Bartlett, an adviser to President George W. Bush, would be its new executive vice president of corporate affairs, starting in late ...

Jennifer Lopez to open cellphone stores

Wed, 22 May 2013 17:42:26 -0400

NEW YORK - "Jenny from the Block" wants the block to buy Verizon phones from her.Singer and actress Jennifer Lopez says she's opening a chain of cellphone stores and a website under the Viva Mobil brand. The aim is to sell Verizon phones and services to Latinos.The first store will open in New York on June 15. Lopez says the stores will have bilingual staff and provide a ...

Confusion Ruled the Day at Microsofts Xbox One Reveal Event

Wed, 22 May 2013 17:25:47 -0400

In today's business world, disruption is a constant force that never lets up. At the annual WIRED Business Conference: Disruptive by Design, we celebrate the creative power of bold new ideas and the people that make them happen. See the event ...

Electric carmaker Tesla pays off U.S. loan

Wed, 22 May 2013 17:24:41 -0400

Tesla Chief Executive Office Elon Musk speaks at his company's factory in Fremont, California, June 22, 2012, as the car company began delivering its Model S electric ...

Starbucks veteran Michelle Gass leaving for Kohls

Wed, 22 May 2013 17:24:41 -0400

SBUX.O ) executive Michelle Gass, who was instrumental in the world's biggest coffee chain's post-recession U.S. turnaround, is leaving after more than 16 years to become chief customer officer at retailer Kohl's Corp ...

H-P earnings fall shares rally on beat forecast

Wed, 22 May 2013 17:22:44 -0400

SAN FRANCISCO (MarketWatch) -- Hewlett-Packard on Wednesday posted a big drop in earnings for the second fiscal quarter, though the adjusted results beat Wall Street's and sent the stock on an after-hours ...

Dell buyout group discounts companys dismal 1Q earnings

Wed, 22 May 2013 17:22:12 -0400

Billionaire investor Carl Icahn is part of an investor group competing with a group led by Dell Inc. CEO Michael Dell to buyout the companys shareholders. Dell Inc.s prospective buyout group is downplaying last weeks 79 percent decline in first-quarter profits. Tennessee-based Southeastern Asset Management Inc. wrote that Round Rock-based Dells (Nasdaq: DELL) performed well in the business ...

Guess Whos Piling into Stock ETFs Central Bankers

Wed, 22 May 2013 17:21:35 -0400

The U.S. Federal Reserve's zero interest rate policy (ZIRP) and multiple rounds of quantitative easing (QE) have been rightly blamed on surging stock prices ...

SeaWorld reports nearly $240M in sales in first earnings report

Wed, 22 May 2013 17:20:54 -0400

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HP profit down 32 percent shares up as results beat estimates

Wed, 22 May 2013 17:20:52 -0400

SAN FRANCISCO (Reuters) - Hewlett-Packard Co's quarterly profit slid 32 percent but the world's largest personal computer maker raised the lower end of its full-year outlook after earnings per share beat forecasts, sending its stock 10 percent ...

Court ruling gives mixed message in Unique Broadband Systems dispute

Wed, 22 May 2013 17:20:07 -0400

Granted, it ain't over till it's over, but there has been something of a mixed message delivered in the matter between Unique Broadband Systems and Jolian Investments Ltd., a private company controlled by Gerald McGoey, the former chief executive of UBS. In a 37-page ruling released Wednesday, Madam Justice Mesbur of the Ontario Superior Court of Justice outlined reasons why ...

Fed uncertainty extinguishes rally

Wed, 22 May 2013 17:19:04 -0400

NEW YORK Stocks fell today on news that several Federal Reserve policymakers in a meeting earlier this month favored cutting back on stimulus programs as early as June if the economy continued to improve. The Dow Jones industrial average lost 80 points to 15,307, a loss of a half a percent. The release of minutes of the April 30-May 1 meeting reversed a 154 point surge in early trading after ...

HPs second-quarter earnings fall 32 percent

Wed, 22 May 2013 17:19:04 -0400

SAN FRANCISCO Hewlett-Packard's slump is deepening as the world's largest personal computer maker scrambles to meet the growing demand for more versatile and less expensive mobile devices. A quarterly earnings report released Wednesday provided the evidence of Hewlett-Packard Co.'s ...

US Stocks Wall Street extends losses SP down 1

Wed, 22 May 2013 17:16:36 -0400

Sources said the provision would not only badly hit Indian IT cos, but also disrupt operational capabilities of a large number of key US cos as ...

H.P. Earnings Are Higher Than Expected

Wed, 22 May 2013 16:48:17 -0400

SAN FRANCISCO ...

Why Are Homeowners Being Jailed for Demanding Wall Street Prosecutions

Wed, 22 May 2013 16:36:30 -0400

May 22, 2013 3:00 PM ET A two-day long housing protest outside the Department of Justice this week has resulted in nearly 30 arrests and several instances of law enforcement unnecessarily using tasers on activists, according to eye-witnesses. The action – which was organized by a coalition of housing advocacy groups, including the Home Defenders League and Occupy Our Homes – called ...

After Hours H-P shares jump after earnings outlook

Wed, 22 May 2013 16:33:07 -0400

SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. shares soared after the computer maker reported second-quarter results and an outlook that topped Wall Street ...

HP earnings sink 31 percent but surpass expectations

Wed, 22 May 2013 16:31:25 -0400

Hewlett Packard CEO Meg Whitman Hewlett-Packard Co. reported second quarter earnings today, showing earnings per share of $0.55 or $1.1 billion, a 31 percent decline in earnings from a year ago. Adjusted earnings came in at $0.87 a share or $1.7 billion, exceeding analyst expectations of $0.81 a share. Net revenue fell 10 percent to $27.6 billion, and cash flow came in at $3.6 billion, a 44 ...

Target Cuts Full-year Forecast on Disappointing Earnings

Wed, 22 May 2013 16:30:32 -0400

Target Corp., like many other retail rivals, was laid low in its first fiscal quarter by cold spring temperatures that discouraged seasonal shopping and caused the chain to underperform by even its own metrics. The Minneapolis company said sales at stores open more than a year declined 0.6% in the three months ended May 4. That's after the retailer in April amended an earlier forecast ...

J.P. Morgan Chase Boss Keeps Both Jobs

Wed, 22 May 2013 16:30:27 -0400

J.P. Morgan Chase Chairman and CEO Jamie Dimon can keep both his jobs after just 32 percent of shareholders voted Tuesday in Tampa, Fla. for a non-binding measure that would have advised the global financial giant to split the roles. Last year, 40 percent of shareholders voted for the measure. In six prior annual meetings where Dimon has been both chairman and CEO, shareholders have been ...

Letters Paying tax is absolutely a moral issue

Wed, 22 May 2013 16:29:51 -0400

Never mind morals, tax is all about the rules , 21 May). A great many ordinary people see payment - or rather non-payment - of tax as fundamentally a moral question. Perhaps it might be talked about as justice or fairness, but it boils down to the same thing. Christian Aid supporters have been campaigning on matters of tax justice for five years.At the heart of their concern is the moral question ...

Google boss calls for a rational and predictable international tax system

Wed, 22 May 2013 16:29:50 -0400

Google boss Eric Schmidt, explaining his firm's tax affairs, says: 'Virtually all the American companies have tax structures like this, and UK companies operating in the US do too.' Photograph: Olivia ...

George Osborne warned by IMF that cuts pose headwinds to growth

Wed, 22 May 2013 16:29:49 -0400

George Osborne was on Wednesday urged by the International Monetary Fund to rethink his plans for a 10bn tax-and-spending squeeze this year, as part of a broad based attack on the coalition's economic policies.After a fortnight's fact-finding mission in London, the Washington-based lender warned that the planned package of spending cuts and tax rises would "pose headwinds" to ...

Whitmans Work Continues Hewlett-Packard Rallies After Earnings Beat Outlook

Wed, 22 May 2013 16:29:18 -0400

reported second-quarter earnings that beat the Street's consensus estimate Wednesday, despite falling 11% from a year ago. Earnings per share of 87 cents were above HP's outlook for 80-82 cents and the 81 cents analysts anticipated. Net revenue of $27.6 billion was 10% below the prior year (9% when excluding currency impacts). Despite the declines, HP threw off $3.6 billion in cash, a ...

NJ Cheap Booze Sold as Premium Liquor

Wed, 22 May 2013 16:27:17 -0400

New Jersey officials have seized inventory and demanded records from 29 bars and restaurants that allegedly sold low-quality liquor to patrons who thought they were buying premium ...

HP Earnings Outlook Top Expectations

Wed, 22 May 2013 16:27:17 -0400

Hewlett-Packard reported fiscal second-quarter earnings excluding items of 87 cents a share on revenue of $27.58 billion. Analysts were expecting earnings of 81 cents per share on revenue of $28.01 billion, according to estimates from Thomson Reuters. For the fiscal third quarter, HP said it expects earnings of 84 to 87 cents a share vs. expectations of 83 cents a share.For the full year, HP ...

Stanford Art Collection $2.9 Million for Victims

Wed, 22 May 2013 16:27:16 -0400

Former billionaire Allen Stanford, convicted last year of running one of the biggest investment frauds in history, had particularly expensive tastes in art. Wednesday in Dallas, an auction of some of his most prized possessions brought in just over $2.9 million. The proceeds are to be turned over to victims of the $7 billion scam, who thus far have recovered next to nothing. ...

Refuse to Testify Youre Fired

Wed, 22 May 2013 16:27:16 -0400

Lois Lerner, the IRS official who headed the division that targeted Tea Party and other conservative groups for special tax scrutiny, invoked her Fifth Amendment right to refuse questions before Congress on Wednesday. The decision could cost her her job.And it doesn't mean that she won't be forced to answer questions. In fact, it's relatively easy for Congress to force her to ...

US STOCKS-Wall St falters in volatile session on Fed worries

Wed, 22 May 2013 16:25:27 -0400

Wed May 22, 2013 4:25pm EDT * Dow, S&P both rise and fall more than 1 pct in same trading day * FOMC minutes show members open to tapering, disagreement on conditions * Bernanke touts benefits of Fed easing, but hints could act * Dow off 0.5 pct, S&P off 0.8 pct, Nasdaq off 1.1 pct By Angela Moon NEW YORK, May 22 (Reuters) - U.S. stocks fell on Wednesday with the S&P 500 posting its biggest ...

Wall Street declines after Fed releases minutes

Wed, 22 May 2013 16:23:40 -0400

Source: Reuters US stocks have fallen, with a selloff accelerating in late afternoon trade, after minutes from the latest US Federal Reserve meeting showed some officials were open to tapering large-scale asset purchases as early as at the June meeting. The minutes followed comments from Chairman Ben Bernanke who said the Fed could decide to scale back the pace of bond purchases at one of ...

Exxon Mobil Sued For Anti-Gay Employment Discrimination

Wed, 22 May 2013 16:23:23 -0400

There are still 29 states where a person can be fired for being gay, but Illinois is not one of them. Nevertheless, it seems that Exxon ...

QA Microsoft Veep Phil Harrison Talks Xbox One Used Games Always-On and More

Wed, 22 May 2013 16:15:17 -0400

REDMOND, Washington — After Microsoft revealed the brand-new Xbox One console to the world yesterday, a common reaction wasn’t one of amazement or eagerness, but confusion. Since most of the presentation showcased fantasy football, Skype, and multimedia applications, anyone wanting to hear about games was left hungry for details. Wired sat down with Microsoft corporate vice ...

Bob Lutz Chinese parts maker offer $20 million for Fisker sources

Wed, 22 May 2013 16:14:08 -0400

Wanxiang and VL Automotive are looking to buy Fisker, which has not built a car since July, through a prepackaged bankruptcy deal. A separate team of investors is looking to buy out the U.S. Department of Energy's position in ...

PepsiCo rethinks U.S. pricing to attract more everyday buyers

Wed, 22 May 2013 16:14:07 -0400

The strategy, which PepsiCo refers to as "hybrid everyday value," involves narrowing the gap between soda prices on holidays and regular days. It aims to lessen the discounts on holidays, when a 12-pack of 12-ounce cans can cost as little as $2.50 to $3, and lower prices throughout the rest of the year, when the same package can cost as much as ...

After Hours Hewlett-Packard in focus after hours

Wed, 22 May 2013 16:12:13 -0400

SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. shares will be in focus after hours Wednesday as the computer maker reports fiscal second-quarter ...

The Wall Street cicada index

Wed, 22 May 2013 16:12:10 -0400

Super Bowl to predict stock market returns, why not a plague of locusts? There are already goldbugs, so why not bug bugs? Standard & Poor's market-data guru Howard Silverblatt agrees. When MarketWatch called to sound him out this morning, it turned out he'd already thought to check out the cicada market theory and had been pleasantly surprised by the results. Of course, that ...

H-P earnings drop but beat Street estimates

Wed, 22 May 2013 16:12:09 -0400

SAN FRANCISCO (MarketWatch) -- Hewlett-Packard Co. said Wednesday afternoon that earnings fell 32% for its second fiscal quarter, though the adjusted bottom line beat Wall Street's estimates. For the period ended April 30, ...

U.S. Capital-Equipment Financing Up 23 in April-Survey

Wed, 22 May 2013 16:11:00 -0400

A survey of credit providers showed that loans and leases for business equipment in the U.S. rose 23% in April from a year ago, as companies went on their largest buying spree of the year so far.Respondents to the Equipment Leasing and Finance Association's monthly survey published Thursday said they financed $7.5 billion of new equipment last month, up from $6.1 billion in April 2012. ...

MARKET SNAPSHOT U.S. Stocks Drop On Fed Tapering Worries

Wed, 22 May 2013 16:11:00 -0400

NEW YORK – U.S. stocks extended losses on Wednesday after minutes from the Federal Reserve latest meeting and comments from the Fed chief suggested the central bank may begin tapering its bond-buying program in coming months.Stocks had a wild ride during the session, as investors digested congressional testimony by Fed Chairman Ben Bernanke and the release at 2 p.m. Eastern of the minutes ...

Long-Term Mutual Funds Inflows Total $8.51 Billion in Latest Week - ICI

Wed, 22 May 2013 16:10:59 -0400

Long-term mutual funds increased by $8.51 billion in the latest week as investors put money into most fund categories, the Investment Company Institute said.Investors have generally been returning to equity mutual funds since January, after avoiding them for several years after the 2008 financial crisis.For the week ended May 15, equity funds had inflows of $2.38 billion, lower than gains of ...

Pipeline plan to send crude from Montreal to Maine raises ire in New England

Wed, 22 May 2013 16:09:32 -0400

New England is in an uproar over a pipeline reversal that would allow Canadian oil sands to be transported from Montreal to Portland in Maine, en route to global ...

Bernankes leadership a critical factor for Fed policy

Wed, 22 May 2013 16:08:30 -0400

on Bernanke's testimony , it was far from a definitive statement about the future course of policy. Chairman Bernanke's leadership, in particular his ability to prevent premature tightening, will be an important factor in determining how policy evolves in coming ...

How commodities can help a portfolio

Wed, 22 May 2013 16:08:29 -0400

(MoneyWatch) One of the most persistent mistakes made when building a portfolio is evaluating potential investments in isolation, instead of considering how their addition impacts the overall risk and return of the portfolio as a whole. The following is a great example of why this is a mistake. I happened upon it when preparing a presentation on commodities' impact on portfolios. We'll ...

Europe targets Switzerland in fight against bank secrecy

Wed, 22 May 2013 15:29:24 -0400

Reuters © (L-R) Greece's Prime Minister Antonis Samaras listens to Austria's Chancellor Werner Faymann and Latvia's Prime Minister Valdis Dombrovskis as they pose for a family photo during a European Union leaders summit in Brussels May 22, 2013. REUTERS/Laurent ...

‘Boom Town Baby’ African stock markets soaring

Wed, 22 May 2013 15:28:12 -0400

The barrage of hourly tweets sent out by Aly-Khan Satchu - East Africa's version of CNBC's Mad Money host Jim Cramer - cheers on what Satchu says is a growing sentiment among investors: If you're not investing in Africa, you should be. Or as Satchu loudly proclaims on his Twitter feed or newspaper column: "IT'S BOOM TOWN ...

Fed weighed slowing its pace of bond purchases

Wed, 22 May 2013 15:27:33 -0400

Several Federal Reserve policymakers this month favored slowing the Fed's efforts to maintain record-low long-term interest rates as early as June _ if the economy showed strong and sustained growth. But those officials appeared at odds over what evidence would demonstrate such gains.Minutes of the Fed's April 30-May 1 meeting released Wednesday show "a number" of members ...

GlaxoSmithKline US team up to make new drugs to combat antibiotic resistance terror threats

Wed, 22 May 2013 15:26:43 -0400

LONDON - GlaxoSmithKline PLC says it's starting an unusual collaboration with the U.S. government to develop several antibiotics for both bioterrorism threats and bacterial infections resistant to current medicines. Antibiotic resistance will become a global crisis, experts predict, because most drug companies have cut investment in antibiotics. Instead, they're developing ...

Existing US and Minnesota home sales flat during April prices still rising

Wed, 22 May 2013 15:26:42 -0400

Home sales in Minnesota and across the country are being stifled by a shortage of inventory, though sale prices continue to rise, according to a pair of state and national reports released this morning. In Minnesota, existing home sales increased only 0.3 percent from April 2012 to April 2013, according to the Minnesota Association of Realtors. The median price of those sales increased 12 ...

Stocks fall after Fed minutes show policymakers had weighed a pullback on its stimulus program

Wed, 22 May 2013 15:26:41 -0400

NEW YORK - Stocks fell in afternoon trading Wednesday on news that several Federal Reserve policymakers in a meeting earlier this month favored cutting back on stimulus programs as early as June if the economy continued to improve. The release of minutes of the April 30-May 1 meeting reversed a surge earlier in the day on hopes that the Fed was a long way from stopping its stimulus efforts. ...

Basile to star at Inside the Design Studio

Wed, 22 May 2013 15:26:16 -0400

, multiple Orchid winner especially for restaurant design, will reveal his secrets "Inside the Design Studio," sponsored by the San Diego Architectural ...

LRAD avoids proxy fight with big shareholder

Wed, 22 May 2013 15:26:15 -0400

Under terms of the settlement, LRAD agreed to nominate two independent directors proposed by Iroquois and a third director who was mutually agreed to by the company and ...

Wal-Mart hires Hill Knowlton executive

Wed, 22 May 2013 15:25:35 -0400

Wal-Mart Stores Inc. is naming Dan Bartlett, who had been president and CEO of the U.S. arm of global public relations firm Hill & Knowlton, as its new executive vice president of corporate ...

Deficit national debt and government borrowing - how has it changed since 1946

Wed, 22 May 2013 15:17:54 -0400

Office for National Statistics said public sector net borrowing came in at 85.1 for the 2012-13 financial year. That's a 35.8bn improvement on the 120.9bn in the previous ...

The Hamptons Billionaire Lane Where Wall Streets Richest Retreat For The Summer

Wed, 22 May 2013 15:17:21 -0400

The Hamptons are awash with ritzy addresses, but perhaps no street boasts more billionaires than Southampton's Meadow Lane. The 5-mile-long road sports a private helipad that can rush residents to Manhattan in 20 minutes, but conveniences like that cost serious cash: The median sale price for a home here last year was $18 ...

Citrix links cloud-based storage to Microsoft SharePoint and Azure

Wed, 22 May 2013 15:15:22 -0400

IDG News Service - Citrix Systems is making its cloud-based storage service ShareFile more Microsoft-friendly with SharePoint integration and the ability to store data on Azure. Services for storing and sharing content in the cloud started in the consumer sector, but more enterprises are now adopting rather than blocking them. Citrix saw this trend coming and acquired ShareFile back in October ...

10 Stocks That Hedge Funds Love

Wed, 22 May 2013 15:15:07 -0400

Goldman Sachs has revealed its list of stocks that are most loved by the nearly $2 trillion hedge fund industry so that they can "follow the smart money," the firm ...

Fed Minutes Participants Mull Taper as Soon as June

Wed, 22 May 2013 15:15:07 -0400

U.S. Federal Reserve's Federal Open Markets Committee this month favored slowing the Fed's efforts to maintain record-low long-term interest rates as early as summer -- if the economy showed strong and sustained growth. But those officials appeared at odds over what evidence would demonstrate such gains. Minutes of the Fed's April 30-May 1 meeting released Wednesday show "a ...

Paid Low Wages on the Government Dime

Wed, 22 May 2013 15:15:07 -0400

Wal-Mart vs. the Feds: Who's the Low-Wage Job King? ) "I work very hard and look over three different areas of the place," said Roseboro. "It's tough. We need to be making $10 an hour.to make a decent living." Roseboro and the other workers are employed under federal contracts with private companies in industries like retail, food and defense. But a recent report ...

Rubio Time for Immigration Reform

Wed, 22 May 2013 15:15:06 -0400

NBC's Erika Gonzalez reports on the aftermath of the Oklahoma tragedy. Meanwhile Sen. Marco Rubio, (R-FL), shares his views on the IRS scandal in Washington. As the "Gang of Eight" immigration bill cleared its first major hurdle to advance to the Senate floor, Senator Marco Rubio urged a bipartisan approach to pass the legislation. "One thing is to have a bill and another ...

Wall St dips as Fed opens taper door

Wed, 22 May 2013 15:07:49 -0400

US stocks and bonds fell, both giving up earlier gains, after Federal Reserve chief Ben Bernanke suggested the central bank might scale back stimulus measures as early as at its next meeting."If we see continued improvement and we have confidence that that is going to be sustained, then we could in-in the next few meetings, we could take a step down in our pace of ...

Video Microsofts Xbox One entertainment console unveiled

Wed, 22 May 2013 15:07:18 -0400

Microsoft's new Xbox One entertainment console seeks to deliver the Holy Grail of home entertainment. It lets you watch television, play movies, listen to music and browse the Internet as well as play video games. (May ...

Activist Raider Stalks London-Listed Oil Firm

Wed, 22 May 2013 15:06:40 -0400

A Ukrainian tycoon will on Thursday move to oust two top bosses of JKX Oil & Gas, a London-listed natural resources group. Sky News understands that Eclairs Group, a vehicle of Igor Kolomoisky, will publish an open letter seeking broader shareholder support to remove Paul Davies and Peter Dixon, JKX's chief executive and commercial director. Citing the company's "ongoing ...

Video Microsoft reveals new Xbox

Wed, 22 May 2013 15:04:56 -0400

'Soldier beheaded' in street as two shot in suspected terrorist attack near Woolwich barracks - 'attacker' shown in video saying 'We will never stop fighting ...

Fed officials want more progress before bond tapering minutes

Wed, 22 May 2013 15:01:50 -0400

A view shows the Federal Reserve building on the day it is scheduled to release minutes of the Federal Open Market Committee from August 1, 2012, in Washington August 22, ...

Delta will wait for new planes to prove themselves CEO

Wed, 22 May 2013 15:01:49 -0400

Delta Chief Executive Richard Anderson speaks during a news conference to announce the sale of Virgin Atlantic airline to Delta Air Lines, in New York December 11, ...

Home sales close in on three-and-a-half year high

Wed, 22 May 2013 15:01:48 -0400

WASHINGTON (Reuters) - Home resales rose in April to the highest level in nearly 3-1/2 years and prices surged, offering the economy a buffer from the stiff headwinds posed by belt-tightening by ...

Irish seek to hold the line in tax battle

Wed, 22 May 2013 15:01:47 -0400

CORK/DUBLIN (Reuters) - Until this week, Richard Bruton enjoyed the sweet spot in Irish government. While cabinet colleagues rolled out spending cuts and tax hikes, Bruton got the photo opportunities with foreign CEOs investing in their favorite corner of ...

Tech Stocks NetApp Apple rise Cisco Microsoft slide

Wed, 22 May 2013 15:00:07 -0400

SAN FRANCISCO (MarketWatch) -- Apple Inc. and NetApp Inc. posted gains Wednesday, but the tech sector was weighed down by declining shares of Oracle Corp., Cisco Systems and Microsoft ...

Ahern Noteholders Nervous About Double Fee on Exit Loan

Wed, 22 May 2013 14:59:03 -0400

Ahern Rentals Inc.'s second-lien noteholders are nervous about the possibility of paying duplicate fees to lenders in light of a bankruptcy-exit loan being provided by Jefferies LLC.In a Tuesday filing with the U.S. Bankruptcy Court in Reno, Nev., the noteholders said that while Ahern has indicated that it doesn't plan to seek the exit financing provided by a separate loan proposal, ...

Mexico Records $4.99 Billion in First-Quarter Foreign Direct Investment

Wed, 22 May 2013 14:59:02 -0400

Foreign direct investment into Mexico rose in the first quarter of the year to $4.99 billion, largely as a result of reinvested profits by foreign companies in the country, the Economy Ministry said Wednesday.The Economy Ministry said the amount was up 14% from the preliminary figures reported in the year-earlier quarter, and was the highest for a first quarter since 2007. Foreign direct ...

Sberbank Deputy Head Non-Resident Share in Capital Up 10 After SPO

Wed, 22 May 2013 14:59:02 -0400

The share of non-residents in Russia's Sberbank (SBER.RS, SBRCY) capital rose by nearly 10% after the country's largest lender carried out a secondary public offering, the bank's first deputy head said Wednesday.Anton Karamzin told reporters that the share of foreigners rose to 44% as of April 11 from 33.8% seen before the new shares emission.In September, Russia raised $5.1 ...

Carrefour sells stake in Middle East venture for $683 million

Wed, 22 May 2013 14:59:01 -0400

DUBAI – Carrefour , Europe's largest retailer, agreed to sell its remaining 25-percent stake in a Middle East joint venture to local partner Majid Al Futtaim (MAF) for 530 million euros ($682.45 million), MAF said in a statement on Wednesday. Majid Al Futtaim Hypermarkets, the venture set up in 1995, operates 50 hypermarkets and 44 supermarkets under the Carrefour name in the Middle ...

Copper Ends Near Six-Week High Trims Gains on Bernanke

Wed, 22 May 2013 14:59:01 -0400

Copper prices pulled back, but still settled near six-week highs Wednesday, as worries about the longevity of the Federal Reserve's loose monetary efforts tempered the supportive influence of stronger U.S. home sales data and copper mine supply disruptions.The most actively traded contract, for July delivery, settled 3.70 cents, or 1.1%, higher at $3.3805 a pound on the Comex division of the ...

Real Books From Real Trees for Real People Microsofts Fun eBook Predictions From 1999

Wed, 22 May 2013 14:58:50 -0400

created an ad for its upcoming 'Microsoft Reader' software . The headline blared, "This is a story about the future of reading," and underneath the story about the company's actual product, the marketers inserted a timeline based on "the best estimates of Microsoft researchers and developers" of what was going to happen to books in the future. The Microsoft ...

Top 10 Highest-Paid CEOs

Wed, 22 May 2013 14:53:53 -0400

Leslie Moonves, who was paid $60 million, is the highest-paid CEO of S&P 500 companies with chief executives who have served at least two full ...

Pizza Delivery to Afghanistan Troops Sets Guinness Record

Wed, 22 May 2013 14:53:52 -0400

(Image credit: Laurie Manzardo Photography) A pizza mission to U.S. military service members in Afghanistan has made the Guinness Book of World Records as the largest pizza ...

Mo. Cashier Sells Herself $1M Powerball Ticket

Wed, 22 May 2013 14:53:52 -0400

Courtesy: Nicki Howard If Maryjane Hart considered herself the luckiest woman in Doniphan, Mo., for having her health, three grown kids and two steady jobs before last Saturday, she’s really lucky now. The 57-year-old divorced convenience store clerk and pharmacy technician won $1 million ...

US STOCKS SNAPSHOT-Wall St extends losses after Fed minutes

Wed, 22 May 2013 14:20:17 -0400

NEW YORK | Wed May 22, 2013 2:20pm EDT NEW YORK May 22 (Reuters) - U.S. stocks fell in choppy trading Wednesday, with the Dow briefly falling more than 1 percent, following remarks by Federal Reserve Chairman Ben Bernanke which suggested the central bank was not ready to pull back on its economic stimulus efforts but may act if the economy continues to improve. The Dow Jones industrial ...

Dish uses national security ads to fight SoftBank deal

Wed, 22 May 2013 14:15:42 -0400

could threaten U.S. national security, hoping to sway MPs and win support for its rival offer.The campaign, which so far appears on the Internet and in Washington-area newspapers, is Dish's most public lobbying effort yet against Japan-based SoftBank ...

Gay-rights group accuses Exxon Mobil of hiring bias

Wed, 22 May 2013 14:14:54 -0400

Rex W. Tillerson, chairman and CEO of Exxon Mobile, attends a plenary session during the 19th World Petroleum Congress in Madrid, July 1, 2008. Pressure on the company from gay-rights groups has increased during his leadership. (SUSANA ...

TV installer Multiband to be acquired for $116M

Wed, 22 May 2013 14:13:16 -0400

Minnetonka -based cable and satellite TV installation firm, has signed an agreement to be acquired for $116 million in cash by Goodman Networks of Plano, Tex. The transaction provides that Goodman Networks will pay $3.25 per Multiband common share, redeem all outstanding preferred shares and repay Multiband's bank debts. However, the agreement gives Multiband 45 days to solicit alternative ...

San Diegos Pulse Electronics does reverse stock split

Wed, 22 May 2013 14:12:53 -0400

Pulse Electronics, a San Diego electronic components maker, announced a 1-for-10 reverse stock split effective Wednesday, with the aim of meeting requirements to keep the company's shares listed on the New York Stock ...

Unilever Ireland to seek 40 redundancies

Wed, 22 May 2013 14:12:12 -0400

Unilever has said it is to seek around 40 redundancies from its Irish operations in Citywest, Dublin. In a statement, the company said it was seeking the cuts in an attempt to create a "more competitive organisation... in response to an unrelentingly challenging retail environment". Unilever currently employs 190 people in Ireland. It operates a number of brands including; Lyons Tea, ...

Targets first-quarter profit falls 29 percent on weak sales

Wed, 22 May 2013 14:10:15 -0400

Target Corp. reported a 29 percent drop in first-quarter profit as unusually cool spring weather and financial pressures chilled customers' appetite for spending.The company, based in Minneapolis, also on Wednesday cut its annual profit outlook, sending its stock down.Target is the latest in a string of companies including rival Wal-Mart Stores Inc. that say bad weather and financial ...

George Soros invests in hyperfast internet firm

Wed, 22 May 2013 14:05:18 -0400

George Soros has led a 50m investment in fibre-optic company Hyperoptic, which lays high-speed lines direct to UK homes.The funding, from the Soros investment vehicle Quantum Strategic Parters, will help Hyperoptic reach its target of 500,000 homes within the next five years.Its "hyperfast" lines transmit information at 1 gigabit per second, which is more than 80 times the ...

Microsoft Reveals The Xbox One

Wed, 22 May 2013 14:04:48 -0400

Microsoft promises the Xbox One will be more than just a game console, but a "living room" with a TV tuner and cable box. Users will be able to switch between watching TV and gaming instantly through the Kinect ...

US STOCKS-Wall St little changed as investors weigh Bernanke comments

Wed, 22 May 2013 14:02:47 -0400

Wed May 22, 2013 2:02pm EDT * Bernanke touts benefits of Fed easing, but hints could act * Stocks choppy after hitting highs earlier * Dow up 0.2 pct, S&P off 0.02 pct, Nasdaq off 0.3 pct By Leah Schnurr NEW YORK, May 22 (Reuters) - U.S. stocks were little changed in choppy trading Wednesday, after giving up earlier gains following remarks by Federal Reserve Chairman Ben Bernanke which suggested ...

Dubai contractor Arabtec says workers end strike

Wed, 22 May 2013 14:00:15 -0400

Dubai contractor Arabtec said on Wednesday a four-day strike by foreign workers seeking higher pay was over and the emirate's police chief said 200 of them would be ...

Praet says ECB can expand its tools to fight crisis

Wed, 22 May 2013 13:49:30 -0400

European Central Bank Executive Board member Peter Praet gives a speech during a meeting organised by the Grand Conferences Catholiques in Brussels January 14, ...

Delta Airlines wants to stop Ex-Im bank help on big jets

Wed, 22 May 2013 13:49:29 -0400

BA.N ), and would be willing to forgo such support for its own purchases of smaller jets if all such subsidies were eliminated, the chief executive said on ...

Refinery Status Western Refining Said El Paso -2-

Wed, 22 May 2013 13:46:35 -0400

The following table lists planned and unplanned production outages at U.S. refineries as reported by Dow Jones Newswires. The information is compiled from both official and unofficial refining sources and does not purport to be a comprehensive list.Western Refining (WNR) on May 22 said the key gasoline-producing fluid catalytic cracking unit at its refinery in El Paso, Texas, had resumed normal ...

Total Launches EUR1 Billion Project to Modernize Antwerp Refining and Petrochemical Platform

Wed, 22 May 2013 13:46:35 -0400

French oil giant Total SA (TOT) said Wednesday that it has approved a 1 billion euro ($1.29 billion) project to modernize its Antwerp refining and petrochemical platform, the company's largest in Europe.The project is part of Total's strategy of focusing its investment on its large integrated platforms to position them among the most competitive in the industry, said the ...

SocGen May Close Branches in French Urban Areas Deputy CEO Says

Wed, 22 May 2013 13:46:34 -0400

Societe Generale SA (GLE.FR), France's third-largest bank by assets, may close some branches in urban areas in a bid to cut costs, the bank's deputy chief executive said Wednesday.As customers increasingly turn to the internet, ATMs and smartphones for banking operations, the bank doesn't need to keep a such a broad network as in the past, Jean-Francois Sammarcelli told ...

EUROPE MARKETS Europe Stocks Climb After Bernanke Comments

Wed, 22 May 2013 13:46:33 -0400

LONDON – European stock markets climbed to an almost five-year high on Wednesday, after U.S. Federal Reserve Chairman Ben Bernanke calmed fears that the central bank will soon fade out its easing program.The Stoxx Europe 600 index inched 0.2% higher to 310.59, closing at the highest level since June 2008.The index traded in negative territory for most of the day, but was sent higher in late ...

America’s Keystone XL double standard Tale of 2 pipelines

Wed, 22 May 2013 13:45:07 -0400

NEW YORK -- A casual observer familiar with the Keystone XL saga would think the United States was making it very hard to build any oil sands-related pipelines. But nothing could be farther from the truth. While TransCanada Corp's Keystone XL is mired in seemingly endless studies, a competing project that could carry hundreds of thousands of barrels of oil sands crude to U.S. refineries ...

Oil price fixing probe draws attention to energy firms’ trading desks

Wed, 22 May 2013 13:45:06 -0400

LONDON -- Europe's energy price manipulation probe has turned regulatory attention to secretive trading units at oil companies with huge turnover and millionaire staff with risk appetite higher than at Wall Street's biggest ...

Trumps a liar jury told

Wed, 22 May 2013 13:44:00 -0400

CHICAGO An attorney for an 87-year-old grandmother who accuses Donald Trump of cheating her in a condo deal has told jurors the "Apprentice" star lied on the witness stand. The accusation came as closing arguments began Wednesday in the week-old trial in Chicago. Plaintiff attorney Shelly Kulwin told jurors Trump stepped on the stand before them "to lie, evade and spout ...

Scammers Steal Gas Station

Wed, 22 May 2013 13:41:10 -0400

Customers of the SuperAmerica gas station in Waconia, Minn., about 35 miles southwest of Minneapolis, were in for a treat to see discounted gas prices and tobacco products sold at half off over the weekend, not realizing that the new station owner was an alleged fraudster who paid for the station with a fake check. The previous owner, Husein Sarameh, 51, said he sold the station in early April ...

US STOCKS SNAPSHOT-Wall Street pares gains Nasdaq negative

Wed, 22 May 2013 13:38:16 -0400

NEW YORK | Wed May 22, 2013 1:38pm EDT NEW YORK May 22 (Reuters) - U.S. stocks pared gains on Wednesday as traders continued to digest Congressional testimony by Federal Reserve Chairman Ben Bernanke, including the timeline for ending or slowing the Fed's massive economic stimulus program. The Dow Jones industrial average rose 48.49 points or 0.32 percent, to 15,436.07, the S&P 500 ...

Lloyds to sell further 15 percent St. Jamess Place stake

Wed, 22 May 2013 13:02:46 -0400

to boost its capital by about 500 million pounds under incoming capital rules.After placing a 20 percent stake in St James's Place in March, Lloyds had agreed not to sell any more shares in the wealth manager for a year, but said that lock-up had been waived and it would sell a further 77 million shares.That would still leave it with a 21 percent stake in St. James's, whose shares ...

Bernanke testimony boosts European stocks

Wed, 22 May 2013 13:02:37 -0400

LONDON (AFP) - Europe's main stocks shot higher Wednesday after US Federal Reserve chief Ben Bernanke indicated that the end was not near to its easy money policies.London's FTSE 100 index of leading shares added 0.53 percent to 6,840.27 points to stand at a 13-year high, while in Frankfurt the DAX 30 index set a fresh record high, climbing 0.69 percent to 8,530.89 points.In Paris the ...

Moss Barnett to relocate to Fifth Street Towers

Wed, 22 May 2013 13:00:07 -0400

Minneapolis law firm, has signed a long-term lease in Fifth Street Towers. About 160 employees will move from Wells Fargo Center in downtown Minneapolis to the new digs at 150 S. Fifth St. T The new lease begins August 2014, although more-detailed terms were not released. Fifth Street Towers was sold for $111 million last year to a joint venture formed by Zeller Realty Group of Chicago and ...

Germans French eye plan to create jobs for young

Wed, 22 May 2013 12:59:45 -0400

Germany's labor minister, Ursula von der Leyen, said Wednesday that she and her French counterpart will meet in Paris next week along with the countries' finance ministers and European industry representatives to discuss the initiative. On July 3, Chancellor Angela Merkel plans to host a meeting of the 27 European Union nations' labor ministers and national labor agency heads in ...

Judge Hollister Abercrombie clothing unfriendly to disabled

Wed, 22 May 2013 12:58:44 -0400

A federal judge in Denver is contemplating an injunction against Abercrombie & Fitch Co. and J.M. Hollister LLC after ruling earlier that nearly 250 of their clothing stores that cater to a hip, young clientele are unfriendly to the disabled.The lawsuit was filed on behalf of several Colorado customers who said they had trouble getting into the retailers and that the sales countertops are too ...

Energy Stocks Energy stocks inch up Pioneer WPX top gainers

Wed, 22 May 2013 12:54:42 -0400

SAN FRANCISCO (MarketWatch) -- Energy stocks edged higher on Wednesday, losing some steam alongside the broader U.S. equity market as Federal Reserve Chairman Ben Bernanke said Fed bond-buying could taper ...

Stocks surge as Bernanke retains dovish tone

Wed, 22 May 2013 12:53:23 -0400

LONDON - Federal Reserve Chairman Ben Bernanke's signal that monetary policy will remain loose gave stocks another lift Wednesday, paving the way for many indexes to advance to new record highs.Following a run of upbeat U.S. economic news, largely related to housing and jobs, there had been talk in the markets that the Fed may soon put a brake on its super-easy monetary policy, which has ...

Morrisons shares slide as investment manager sells out

Wed, 22 May 2013 12:50:52 -0400

a major shareholder had dumped its stake in the Bradford-based supermarket chain.Walter Scott, a fund management group run by a former nuclear physicist, sold about 100m shares, equivalent to just over 4% of Morrisons' stock, for a total 280m, a slight discount to Wednesday's closing share price of 283p - down 2.5%. The Edinburgh-based investment manager is the second major shareholder ...

Nationwide results scarred by commercial property

Wed, 22 May 2013 12:50:50 -0400

Nationwide is entitled to a boast or two. The building society had a decent crisis, maintaining capital strength and even helping up to mop up a few spillages elsewhere, such as the over-extended Dunfermline Building Society.But chief executive Graham Beale should be careful not to overdo the hyperbole. A casual reader of ...

Royal Mail workers balloted on privatisation plans

Wed, 22 May 2013 12:50:49 -0400

The results from the ballot, which also asks whether Royal Mail workers would support a boycott of competitors' mail, are due on 19 June. Photograph: Christopher Thomond for the ...

FTSE 100 moves closer to all time high after Bernanke comments

Wed, 22 May 2013 12:50:49 -0400

Leading shares climbed ever closer to their all time high on hopes that the central bank money taps would not be turned off any time soon, but ended the day off their best levels.Investors have been piling into equities on the basis that low interest rates and quantitative easing to boost the global economy would continue to support the markets. But recently there had been suggestions that the US ...

UK energy companies profits customers and price hikes

Wed, 22 May 2013 12:50:48 -0400

SSE fuels consumer anger as retail profits rise 30% to 410m Scottish and Southern Energy posts results under the heading Earning the Right to Make a ...

Forbes Earnings Preview Foot Locker

Wed, 22 May 2013 12:50:19 -0400

reports its first quarter earnings on Friday, May 24, 2013. The consensus estimate is 87 cents per share, up 4.8% from a year ago when Foot reported earnings of 83 cents per share. The consensus estimate has declined from 91 cents over the past three months. For the fiscal year, analysts are projecting earnings of $2.82 per share. Revenue is projected to eclipse the year-earlier total of $1.58 ...

Forbes Earnings Preview Sears Holdings

Wed, 22 May 2013 12:50:17 -0400

reports its first quarter earnings on Thursday, May 23, 2013. Analysts are expecting a loss of $3 per share for the fiscal year. Analysts project revenue to fall 9.7% year-over-year to $8.37 billion for the quarter, after being $9.27 billion a year ago. For the year, revenue is projected to roll in at $36.45 billion. A year-over-year revenue increase in the fourth quarter of the last fiscal ...

Forbes Earnings Preview Abercrombie Fitch

Wed, 22 May 2013 12:50:17 -0400

when the company releases its first quarter numbers on Friday, May 24, 2013. They are expecting the company to take a loss of 5 cents a share after Abercrombie & Fitch booked a profit of 3 cents a year ago. Over the past three months, the consensus estimate has sagged from 14 cents. For the fiscal year, analysts are expecting earnings of $3.50 per share. Revenue is expected to be $941.7 ...

Forbes Earnings Preview Patterson Companies

Wed, 22 May 2013 12:50:17 -0400

reports its fourth quarter earnings on Thursday, May 23, 2013. Analysts are expecting Patterson to report earnings of 62 cents per share, up 6.9% from a year ago when it reported earnings of 58 cents per share. The consensus estimate has decreased from 63 cents over the past month. For the fiscal year, analysts are projecting earnings of $2.03 per share. Revenue is expected to be $969.4 million ...

Forbes Earnings Preview Ship Finance International Limited

Wed, 22 May 2013 12:50:17 -0400

announcement of its first quarter earnings on Thursday, May 23, 2013, analysts have become more bullish as expectations have improved over the past month from 28 cents per share to the current projection of earnings of 30 cents per share. Current Wall Street estimates reflect a 33.3% decline from the year-ago quarter, when the company reported earnings of 45 cents per share. The consensus ...

Bernankes Figure Eight on Ending QE

Wed, 22 May 2013 12:48:08 -0400

If it sounds like Federal Reserve Chairman Ben Bernanke is dancing in his testimony, it's because he is doing rhetorical figure eights in trying to signal where the Fed is going. Here are the cones he is attempting to skate ...

Homes Selling at Fastest Pace Since Boom

Wed, 22 May 2013 12:48:08 -0400

Strong demand and still limited supply mean homes are now selling nearly three times as fast as they normally would. The average number of days a listing stayed on the market in April was 46, down from 62 in March, and down from the normal pace of 90-120 days, according to the National Association of Realtors. "I have a seller, his house came on, he got a full price offer, and he refused to ...

Pisani Traders Overreact to Bernanke

Wed, 22 May 2013 12:48:08 -0400

Federal Reserve Chairman Ben Bernanke's comments. Mr. Bernanke, in his Q and A, essentially reiterated what New York Fed President William Dudley said yesterday: that any change in the flow of bond purchases will depend on the incoming data. A question about whether the Fed might reduce bond purchases before Labor Day elicited the same reply: the Fed could reduce bond purchases in the next ...

Lutz Sees Stripped Down Fisker as Potential Gem

Wed, 22 May 2013 12:48:07 -0400

General Motors , who now plays a leaders a leadership role with VL Automotive, is teaming up with Wanxiang Group, a Chinese auto parts supplier, in a bid to buy the ailing Fisker. CNBC has been unable to reach Lutz for a comment on the bid, but sources confirm the VL Automotive/Wainxing bid is one of three offers to buy Fisker. No other details have been revealed about how much Lutz and his ...

Bill Targets Rental Car Companies

Wed, 22 May 2013 12:48:07 -0400

By law, a car dealer cannot sell you a vehicle that's under a safety recall until it's been repaired. But a company can rent you that vehicle or give it to you as a loaner. "This doesn't make any sense," said Rosemary Shahan, president of Consumers for Auto Reliability and Safety, who has been pushing Congress to close the rental car loophole. "There's a weird ...

Clearwire Board Say Yes to Sprint

Wed, 22 May 2013 12:48:06 -0400

Sprint upped its bid by 14 percent to $2.5 billion Tuesday for the wireless data network operator. Some shareholders have opposed the deal, including Crest ...

Staying Charged When Disaster Strikes

Wed, 22 May 2013 12:48:06 -0400

When disaster strikes, communication can be a lifeline. That's made phone chargers a new addition to the emergency preparedness kit. Even disaster relief organizations are taking note. Linda Auck, a volunteer with the American Red Cross, was at the CTIA wireless show in Las Vegas this week with the organization's new prototype emergency response ...

Microsoft releases a new training brochure for Windows 8

Wed, 22 May 2013 12:46:24 -0400

Download Center . Unlike the video, the 36-page PDF guide is definitely new (there's a screenshot from April 2013) and will prove a godsend for anyone struggling to get to grips with Windows 8 or Surface. Each of the multi-colored pages clearly and concisely explains how to use a particular element of the operating system, with the aid of large, friendly ...

Spain banks may need to raise money to meet provisions Rajoy

Wed, 22 May 2013 12:35:07 -0400

BRUSSELS (Reuters) - Spain's Prime Minister Mariano Rajoy on Wednesday said the country's banks may have to raise capital on the financial markets to meet higher provisioning ...

Vatican financial body investigating possible money laundering

Wed, 22 May 2013 12:35:06 -0400

1 of 4. Rene Bruelhart, director of the Vatican's Financial Information Authority (FIA), leaves at the end of a news conference at the Vatican May 22, ...

Analysis As economy strengthens a bonds sell-off may beckon

Wed, 22 May 2013 12:35:05 -0400

NEW YORK (Reuters) - The U.S. government bond market has weakened in recent weeks but some investment strategists fear that this may only be the beginning of an extended ...

Fiat Industrial says 500 million euro tax loss reports false

Wed, 22 May 2013 12:35:04 -0400

FIA.MI ) said reports that Italy would lose more than 500 million euros in tax receipts as a result of its moving fiscal domicile to the UK after a merger with unit CNH ...

Target earnings disappoint retailer cuts full-year forecast

Wed, 22 May 2013 12:32:31 -0400

Societe Generale Starts Dismissal Process of Russian Unit Rosbank CEO

Wed, 22 May 2013 12:31:55 -0400

French bank Societe Generale SA (GLE.FR) said Wednesday that it has initiated the dismissal process of Vladimir Golubkov, chief executive officer of its Russian unit Rosbank, a week after he became the target of a probe into alleged bribery in the country.Societe Generale said that Rosbank is now operating under the management of acting CEO Igor Antonov with the supervision of Didier Hauguel, ...

CEO of Puerto Ricos Popular Declares IOC Presidency

Wed, 22 May 2013 12:31:45 -0400

Popular Inc. (BPOP) Chairman and Chief Executive Richard Carrion wants to make his pastime a full-time job, declaring on Wednesday his candidacy to become president of the International Olympic Committee.If elected in September, Mr. Carrion, 60 years old, would step down as CEO of Puerto Rico's largest bank by assets and deposits, but remain its chairman.The decision is setting off a search ...

Barrick Gold may shed mines to boost profits

Wed, 22 May 2013 12:30:16 -0400

Barrick Gold Corp., the biggest miner of the metal by sales, is considering shrinking in size as the company focuses on returns over production volumes, Chief Executive Officer Jamie Sokalsky said. "Being more profitable is better than being bigger," Sokalsky said yesterday at the Bloomberg Canada Economic Summit in Toronto. "If we divested of some of those smaller, higher-cost ...

Debt financing by pension funds a steadily growing business

Wed, 22 May 2013 12:30:16 -0400

One day after OPB Finance Trust raised $250-million of nine year debt at 2.90%, more information has emerged about the borrowings by some of the country's leading public sector pension funds. For instance: -- According to DBRS, the total debt outstanding for OMERS is about $4.43-billion. That debt has been issued by three different entities: OMERS Realty Corp., OMERS Realty CTT Holding and ...

U.S. home sales tick up to highest in 3 12 years

Wed, 22 May 2013 12:29:18 -0400

WASHINGTON Sales of previously occupied U.S. homes ticked up last month to the highest level in 3 1/2 years, helped by a jump in the number of houses for sale. The National Association of Realtors said Wednesday that sales rose to a seasonally adjusted annual rate of 4.97 million, up from 4.94 million in ...

Microsofts Xbox One Is Its Own Second Screen

Wed, 22 May 2013 12:27:00 -0400

Microsoft hopes the new Xbox One-its first console in eight years-will become a hub for entertainment. In addition to live TV, the device will offer exclusive media content, including a live-action Halo video series produced by Steven ...

Financial Stocks J.P. Morgan leads financial stocks higher

Wed, 22 May 2013 11:42:30 -0400

Gupta was convicted of fraud and passing on insider secrets about Goldman Sachs to now felon Raj Rajaratnam. Rajaratnam is serving 11 years in prison for gaining insider tips for financial ...

Futures Movers Oil falls ahead of U.S. government supply data

Wed, 22 May 2013 11:42:29 -0400

SAN FRANCISCO (MarketWatch) -- Crude-oil futures fell Wednesday as traders braced for a U.S. government update on petroleum inventories following a trade group report that showed an unexpected rise in weekly crude ...

Tesco closes Shanghai superstore owner refused to renew lease

Wed, 22 May 2013 11:41:20 -0400

A 10-year-old Tesco store in Shanghai will be closed in the end of May, the UK retailer Tesco Group announced Wednesday, shortly after rival Wal-Mart Stores Inc shut down three superstores in the Chinese mainland in April. The property owner has no intents of renewing the lease contract, so the firm decided to close the supermarket on May 31, an PR representative with Tesco China, who wished to ...

Wall Street opens higher ahead of Bernanke

Wed, 22 May 2013 11:40:35 -0400

New York - US stocks edged higher at the open on Wednesday, ahead of highly anticipated testimony in Congress by Federal Reserve Chairman Ben Bernanke on the economy and monetary ...

Microsoft Stops Predicting AV Samples to Focus on Ecosystem

Wed, 22 May 2013 11:40:09 -0400

Cloud Security Readiness Tool Results Show Overwhelming Lack of Maturity Since its launch in October 2012, 5,700 people have used the Microsoft Cloud Security Readiness Tool (CSRT). The tool asks 27 questions regarding the current state of an organisation's security posture and cloud readiness. The results have been anonymised and analysed, and the overarching conclusion is that most ...

Forbes Earnings Preview salesforce.com

Wed, 22 May 2013 11:38:35 -0400

reports its first quarter earnings on Thursday, May 23, 2013. Analysts are projecting a loss of one cent per share, matching that number from a year ago. The consensus estimate has decreased from 0 cents over the past three months. For the fiscal year, analysts are expecting earnings of 0 cents per share. Revenue is projected to be 27.6% above the year-earlier total of $695.5 million at $887.1 ...

Forbes Earnings Preview Cato

Wed, 22 May 2013 11:38:35 -0400

is expected to report poor first quarter earnings on Thursday, May 23, 2013 with analysts expecting a 5.5% drop in earnings from a year ago. The consensus estimate is $1.03 per share, down from earnings of $1.09 per share a year ago. Analysts are expecting earnings of $1.78 per share for the fiscal year. Analysts project revenue to fall 0.2% year-over-year to $274.7 million for the quarter, ...

Forbes Earnings Preview Dollar Tree

Wed, 22 May 2013 11:38:35 -0400

when the company reports its first quarter results on Thursday, May 23, 2013. The consensus estimate is calling for profit of 57 cents a share, reflecting a rise from 50 cents per share a year ago. The consensus estimate has decreased from 58 cents over the past three months. For the fiscal year, analysts are expecting earnings of $2.80 per share. Revenue is projected to be $1.87 billion for the ...