January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
, Jan. 19, 2012 (Reuters) -- Wall Street axed 2,000 workers in December as poor profits led companies to slice expenses, the biggest reduction since last summer when the industry released its summer interns, James Brown, a labor market analyst with the New York Department of Labor, said on Thursday. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Corporate sponsors are back en mass at Sundance, where companies have long lingered around the edges of the film festival in the hopes some cool will rub off on their brands.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Several funds plan to go to the European Court of Human Rights if Greece doesn’t make good on its bond payments.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
In its study, a branch of the National Academy of Sciences called on the N.H.T.S.A. to refine its investigative techniques and push for “black boxes” that record data in car crashes.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
The world’s second largest reinsurer said on Thursday that Michel M. Lies will take over as the company’s chief executive on Feb. 1.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
NEW YORK/CHICAGO, Jan. 19, 2012 (Reuters) -- As four big tech bellwethers ready their earnings reports after the bell on Thursday, the big question is whether their results will further fuel a solid rally in the tech sector. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
NEW YORK, Jan. 19, 2012 (Reuters) -- Nike Inc <NKE.N> is seeing no slowdown in demand in its biggest markets, even as Europe struggles economically and shoppers in the United States remain skittish, Chief Executive Mark Parker said. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
MILAN, Jan. 19, 2012 (Reuters) -- Organized crime in Italy controls agricultural and food businesses worth 12.5 billion euros ($16 billion) a year, or 5.6 percent of all criminal operations in the country, according to a parliamentary investigation presented on Thursday. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
The one main bright spot in the fourth quarter was the Wall Street firm's global wealth management division.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Some female business owners say that in male-dominated industries, men tend to bully women to try to get what they want.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
LONDON, Jan. 19, 2012 (Reuters) -- The world economy will lose momentum in 2012 but it will keep moving in the right direction, according to Reuters polls of around 600 economists who said crisis-hit Europe would drag on global growth. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
, Jan. 19, 2012 (Reuters) -- Ford Motor Co <F.N> will give bonuses and merit-based raises to salaried workers in the United States and Canada this spring, the first time the No. 2 U.S. automaker has paid out both since the onset of the financial crisis. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
LONDON, Jan. 19, 2012 (Reuters) -- Bonuses in Britain's financial services sector have been "out of control" in recent years, Prime Minister David Cameron said on Thursday, unveiling plans to cap cash rewards again at state-backed banks. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
AUSTIN, Texas, Jan. 19, 2012 (Reuters) -- Johnson & Johnson said on Thursday it will pay $158 million to settle a Texas lawsuit accusing the drugmaker of improperly marketing its Risperdal anti-psychotic drug to state residents on the Medicaid health program for the poor. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
MILAN, Jan. 19, 2012 (Reuters) -- Ratings agency Standard & Poors hit back at Italian prosecutors on Thursday after sources said its offices in Milan were visited by tax police pursuing a probe into the impact of S&P's reports on Italian share prices. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Big mistakes almost always start as small mistakes, and then people delay doing something about them.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Federal prosecutors depicted a "circle of friends," including Anthony Chiasson of Level Global, who together earned about $62 million in illegal gains in Dell stock.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
, Jan. 19, 2012 (Reuters) -- Apple Inc unveiled a new digital textbook service called iBooks 2 on Thursday, as the iPad maker aims to revitalize the education market. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
What do you look for in noise-canceling headphones? Music fidelity? Reasonable price? Bose has dominated the market, but here’s a look at the latest models from 10 other companies.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Above-average temperatures across the United States thus far are hurting retail sales, and retailers are running out of time to sell their winter inventory.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
A federal judge ruled that R. Allen Stanford, accused of defrauding thousands of investors in a $7 billion Ponzi scheme, will go on trial next week.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
The legislative battle over two once-obscure measures to combat the looting of online content may prove to be a turning point for how Washington does business.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
There is a growing fear that Wichita, Kan., is at risk of losing its identity as one of those American places where people make things and are paid well for it.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
NEW YORK, Jan. 19, 2012 (Reuters) -- The pace of factory activity in the U.S. Mid-Atlantic region ticked up in January, though it was not as strong as expected as new orders slipped, a survey showed on Thursday. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
PARIS, Jan. 19, 2012 (Reuters) -- Airbus <EAD.PA> said on Thursday it had discovered more cracks in the wings of two A380 superjumbo aircraft but insisted the world's largest jetliner remained safe to fly. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
MADRID/ATHENS, Jan. 19, 2012 (Reuters) -- The embattled euro zone cleared a major funding test on Thursday when Spain romped through a key bond sale, while signs pointed to only a mild recession for the 17-nation bloc. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
As Mitt Romney defends his tenure at Bain Capital on the presidential campaign trail, some on Wall Street wonder how running a private equity firm compares to running the country.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
MUMBAI: Japan's Nippon Life Insurance said Thursday it had agreed to buy a 26 percent stake in billionaire Anil Ambani's Reliance Capital in the largest foreign investment in India's mutual fund sector.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
WASHINGTON: New claims for US unemployment benefits fell sharply last week to the lowest level since April 2008, the government reported Thursday.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
LONDON: British luxury handbag maker Mulberry posted surging Christmas sales and raised its annual profits forecast Thursday, in a further sign that the high-end fashion sector is bypassing the economic gloom.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
WASHINGTON, Jan. 19, 2012 (Reuters) -- Housing starts fell in December as groundbreaking on rental property posted a big decline, splashing some cold water on hopes the still-weak housing sector could boost economic growth this year. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
MUMBAI, Jan. 19, 2012 (Reuters) -- Starbucks Corp <SBUX.O>, the world's largest coffee company, is finalizing its retail partnership with India's Tata Coffee Ltd <TACO.NS> and hopes to announce the deal by the end of this month, a senior official of the Indian company said on Thursday. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
STOCKHOLM: Mobile phone manufacturer Sony Ericsson said Thursday that intense competition slammed fourth quarter sales and forced it to post a loss of 247 million euros ($318 million) for the year, compared with a 90-million-euro net profit in 2010.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
, Jan. 19, 2012 (Reuters) -- Morgan Stanley <MS.N> lost money in the fourth quarter due to a big charge related to a legal settlement, and said revenue declined across all of its trading, banking and brokerage operations. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
, Jan. 19, 2012 (Reuters) -- Bank of America Corp reported a fourth-quarter profit, reversing a year-earlier loss, boosted by one-time items and lower expenses for bad loans. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
MILAN, Jan. 19, 2012 (Reuters) -- The International Monetary Fund expects the euro zone economy to contract by 0.5 percent this year and warns that tensions arising from the bloc's debt crisis threaten global growth, Italian news agency ANSA reported on Thursday quoting a draft of the World Economic Outlook (WEO). ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Spain has easily sold shorter-dated debt in recent weeks, but finding buyers for 10-year paper was considered a sterner test.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
, Jan. 19, 2012 (Reuters) -- UnitedHealth Group Inc <UNH.N> posted a higher-than-expected fourth-quarter profit, helped by greater membership across its array of health plans. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
MADRID, Jan. 19, 2012 (Reuters) -- Spain passed its biggest test of market sentiment so far this year on Thursday, selling far more longer-term debt than expected as the government pressed ahead with efforts to tackle its problems with the help of a European Central Bank backstop. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
NEW DELHI: India's aviation and finance ministers urged Tuesday that foreign airlines be allowed to buy stakes of up to 49 percent in local carriers to provide vital cash injections for the struggling industry.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
A report commissioned by a lobbying group for the securities industry should not be taken as objective analysis of the impact of a rule to restrict risky trading activities by large banks, an economist writes.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
TOKYO, Jan. 19, 2012 (Reuters) -- Japanese authorities, while reluctant to act now, may consider engaging in a rare intervention to stem yen rises against the euro if the moves appear to be driven by speculators and sharp enough to severely hurt business sentiment. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
HONG KONG - Asian markets mostly rose Thursday, tracking gains on Wall Street amid positive US economic data and International Monetary Fund plans to boost its coffers for crisis fighting.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
JAKARTA - Indonesia's foreign direct investment hit a record US$20 billion last year, with Singapore, Japan and the United States among the Southeast Asian nation's top investors, the trade minister said Thursday.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
BEIJING, Jan. 19, 2012 (Reuters) -- China's 2012 economic outlook has dimmed because of weakening export demand and a faltering housing market, and its central bank will probably try to spur more bank lending to prevent a steeper slump, a Reuters poll showed on Thursday. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
A contract programmer was charged with copying software code valued at nearly $10 million to an external hard drive.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
TOKYO: Japan said on Thursday it was ready to answer an International Monetary Fund call for extra cash to help Europe steer a course through its sovereign debt crisis, a report said.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
LONDON, Jan. 19, 2012 (Reuters) -- Global brewer SABMiller <SAB.L> <SABJ.J> reported a 3 percent rise in beer volumes in the last three months of 2011, matching forecasts, led by the emerging markets of Africa and Latin America which helped offset falls in North America and Europe. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
NEW YORK: The century-old US camera pioneer Eastman Kodak, which brought photography to the masses, filed for bankruptcy early Thursday after years of failing to keep pace with the digital age.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
HONG KONG, Jan. 19, 2012 (Reuters) -- China is filling a lending vacuum in Asia as European banks limp home to preserve capital, and is making sure loans have spin-off benefits for Chinese manufacturers and exporters, even at the expense of the rates they offer. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
AsianInvestor and
FinanceAsia hosted our third forum in Hong Kong on the internationalisation of the renminbi. Here we present a gallery of photos from the event.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
With home improvement apps for mobile devices, a user can get cost estimates and how-to videos, as well as a 3-D picture of the final results before work even begins.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
A rainbow coalition of single-issue agendas seem to make up the world view of Professor Joseph Stiglitz, preached on the conference circuit.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
The former chief economist for the International Monetary Fund was known for his blunt and often witty economic assessments.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Alan B. Levan, chief executive of BankAtlantic Bancorp, was accused of accounting fraud and of hiding losses in the bank’s real estate portfolio.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Wholesale prices fell last month as companies paid less for food and energy, the Labor Department said, providing evidence that inflation remains tame.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
A jury ruled that TD Bank must pay millions for its role in a $1.2 billion Ponzi scheme to Coquina Investments of Texas.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
The social media service already seems simple, but it has many features and widgets to make it even easier to use.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
The results exceeded expectations, and revenue projections for the year are on course.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
The new sponsors include two luxury car brands, Acura and Lexus; Century 21, the real estate firm; Dannon; and the H&M retail chain.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
The International Monetary Fund estimated that countries will need about $1 trillion in loans in coming years.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
The site said millions of users followed protest suggestions, but others said they did not give Internet regulation much thought.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
, Jan. 19, 2012 (Reuters) -- Large U.S. companies are facing fewer shareholder securities fraud lawsuits than at any other time in the last decade, a trend that may persist as fallout from the 2008 financial crisis recedes. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
, Jan. 18, 2012 (Reuters) -- Glencore, the world's largest commodities trader, will lose Steven Blumgart, one of its most senior executives, in the first significant departure since the company went public last year, the Financial Times newspaper reported on Thursday. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
The Huffington Post has named Anne Sinclair, the wife of Dominique Strauss-Kahn, the former managing director of the International Monetary Fund, as editor of its French edition.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
, Jan. 18, 2012 (Reuters) -- Eastman Kodak Co <EK.N> is preparing to name a chief restructuring officer as it looks for ways to raise financing to keep the company in business during bankruptcy proceedings, the Wall Street Journal reported, citing people familiar with the matter. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
SINGAPORE: Oil prices were higher in Asian trade Thursday, supported by news that the International Monetary Fund seeking to boost its coffers to aid in crisis intervention, analysts said.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
BEIJING, Jan. 18, 2012 (Reuters) -- China faces what could be its worst year of growth in a decade with policy firepower that developed nations can only dream of. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
HONG KONG: Asian markets mostly rose Thursday, tracking gains on Wall Street amid positive US economic data and International Monetary Fund plans to boost its coffers for crisis fighting.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Cruise lines are protected by international law and by a carefully worded contract that passengers accept when they buy tickets.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
SYDNEY: Australia's unemployment rate remained steady at 5.2 percent in December, latest data showed, beating economist expectations.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
HDNet, the cable channel owned by the billionaire sports and media mogul Mark Cuban, will become AXS TV this summer — a joint venture that includes Ryan Seacrest’s media holding company.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Goldman Sachs's chief financial officer says his firm cannot cut its way to prosperity. That may be, but Goldman has been busy slashing costs from compensation to car services to deliver a profit.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
WASHINGTON, Jan. 18, 2012 (Reuters) -- Payday lenders facing oversight from the new consumer protection agency are warning that tough regulations may push customers into the arms of unscrupulous online lenders, in a pitch for lighter, or at least equal, new rules. ...
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January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
WASHINGTON: The Republican-led House of Representatives Wednesday passed a largely symbolic measure condemning a hike in the US debt ceiling as political battles over government finances resumed.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
WELLINGTON: New Zealand's inflation rate fell 0.3 percentage points in the three months to December, in a surprise result analysts said would likely see interest rates remain on hold in coming months.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
, Jan. 18, 2012 (Reuters) -- In late October, as MF Global Holdings Ltd teetered toward bankruptcy, Jon Corzine phoned his close-knit circle of Wall Street friends for help. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
In an unusual display of offline activism, members of the New York technology world on Wednesday gathered for a rally in Midtown to protest two controversial antipiracy bills in Congress.

January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
STOCKHOLM, Jan. 18, 2012 (Reuters) -- Sony Ericsson on Thursday posted a big loss for the fourth quarter of 2011, blaming tough competition, the global slowdown and restructuring for marring the final quarter before it is rolled into Japanese consumer giant Sony. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
, Jan. 18, 2012 (Reuters) -- Hedge fund titan Steven A. Cohen is once again in the spotlight over allegations of improper trading at his $14 billion SAC Capital Advisors. ... > read full story
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Debt levels at the country’s state electricity boards are so high at INR900 billion that only intervention by the central government will prevent banks suffering huge losses.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
Hong Kong-based banks are poised to benefit from added liquidity in the CNH market following policy changes made by the HKMA. However, the bond market may not see much of a short-term upside, analysts say.
January 19, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh
The Chinese developer has been trimming its land purchases and construction to prevent declining property prices from hurting its finances, says executive director and CFO Parry Tse.