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by rushabh

DealBook: Lax Oversight Blamed in Demise of MF Global

February 3, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

A House panel faulted risk oversight by some ratings agencies and MF Global's chief risk officer for the firm's demise.

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by rushabh

Stock Indexes Hold Firm While Tech Shares Advance

February 3, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Recent data that suggests the economy is recovering has helped stocks rally, but the January jobs report will test the rally.

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by rushabh

Westpac to cut 550 jobs in Australia

February 3, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

SYDNEY: Australian banking giant Westpac Friday confirmed it will axe up to 550 jobs in order to protect its big profits, which are being hit by slowing global growth.

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DealBook: Blackstone’s Profit Falls 12%, but Beats Expectations

February 3, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The private equity firm headed by Stephen A. Schwarzman reported adjusted profit of $450 million for the fourth quarter, topping analysts' estimates of $441.7 million.

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by rushabh

Martha Stewart Living says Macys deal has loophole (Reuters)

February 3, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

NEW YORK, Feb. 2, 2012 (Reuters) -- Martha Stewart Living Omnimedia's contract with Macy's to exclusively sell certain products has a loophole that will let the company sell in J.C. Penney Co stores, according to the home-goods company. ... > read full story

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by rushabh

DealBook: Goldman at a P.R. Crossroads

February 3, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

News that Goldman Sachs is wooing a former Treasury official has had Wall Street buzzing with talk that Lucas van Praag may be leaving the firm.

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Fed’s Fisher: policy action hinged to inflation (Reuters)

February 3, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

photoAUSTIN, Texas, Feb. 2, 2012 (Reuters) -- The Federal Reserve may have more latitude to pursue easy-money policies if inflation runs below its newly-set 2-percent target, though such a move does not guarantee more jobs, a top central bank official said on Thursday. ... > read full story


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by rushabh

Asia Pacific banks broadly resilient in 2012: Fitch

February 3, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Asia Pacific banks’ ratings have generally stable outlooks, reflecting Fitch’s view of their ability to weather the weaker global economy and the willingness of respective sovereigns to provide support, but downside risks exist.

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Interview: Indika to focus on resources M&A, liability management

February 3, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Indonesia’s Indika Energy will look at M&A opportunities in resources and watch the markets closely for opportunities to manage its liabilities and deleverage, according to CEO Arsjad Rasjid.

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by rushabh

Beijing to cut RRR by 50bp in February: Daiwa

February 3, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

China is forecast to shed its reserve ratio requirement by 50 basis points this month as the nation continues to battle with slowing growth and continued headwinds from the west, says the Japanese bank.

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by rushabh

Loan market to overcome lowest vols since 2004

February 3, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Asia’s loan market is experiencing its slowest start since 2004 as higher pricing and stricter lending criteria stymie volumes but deal flow will pick up as borrowers accept higher costs and liquidity returns to the market, say bankers.

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by rushabh

Media Decoder Blog: Dow Jones Names Lex Fenwick Its New Chief Executive

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Mr. Fenwick, a longtime Bloomberg L.P. executive, is filling a six-month vacancy created when Les Hinton resigned amid the phone-hacking scandal in Britain.

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by rushabh

Gold Surges: Is It Getting Ahead Of Itself?

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Gold's 12% advance this year has encouraged increasingly bullish sentiment for investment newsletters. For contrarians, that's a cautionary sign, says MarketWatch's Mark Hulbert. Laura Mandaro reports. (Photo: Getty Images)


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by rushabh

Dollar edges up in quiet forex trade

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

NEW YORK: The dollar edged up against major currencies in quiet trade on Thursday, ahead of the release of monthly jobs data for January.

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by rushabh

News Corp taps Bloomberg executive to lead Dow Jones (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

, Feb. 2, 2012 (Reuters) -- Rupert Murdoch's News Corp on Thursday named Bloomberg LP executive Lex Fenwick as chief executive officer of its Dow Jones & Co unit which houses its Wall Street Journal newspaper. ... > read full story

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by rushabh

DealBook: Glencore and Xstrata in Talks for $80 Billion Deal

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Glencore International, the biggest commodities trading company in the world, has approached the mining company Xstrata about a takeover, a long-anticipated deal that would create a company with a market value of about $80 billion.

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by rushabh

DealBook: Private Equity’s Defenders Emerge From Shadows

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

As the political attacks on Mitt Romney's record at Bain Capital have intensified, some buyout giants are punching back, including Hamilton James of Blackstone.

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by rushabh

Quarterly Profit Falls 12.2% at Times Co.

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Fourth-quarter profit declined as rising subscription and digital advertising revenue at the company’s largest newspapers could not offset the continued drop-off in print advertising.

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by rushabh

H&M: Beckham Strips Down

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Watch the Super Bowl XLVI ad from H&M featuring David Beckham.


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by rushabh

H&M: David Beckham Strips Down

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Watch the Super Bowl XLVI ad from H&M featuring David Beckham.


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by rushabh

A Long Journey to a ‘Green’ Dream Home

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Architect David Solner bought a small home on a wooded lot in the mid-1990's with plans to build a dream home. But it took a tornado in 2008 to spur him to begin building. He used wood from the downed trees and other recycled materials throughout the contemporary, 4200 sq. ft. house.


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by rushabh

Blue Chips Retreat Ahead of Jobs Report

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The Dow industrials finished in the red for the fifth time in six sessions, as mixed earnings curbed sentiment ahead of Friday's reading on unemployment. Brendan Intindola has details on The News Hub. Photo: AP


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by rushabh

Jobs fears leave US stocks mixed

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

NEW YORK: US stocks ended the session mixed on Thursday after weekly jobless claims fell but Federal Reserve chief Ben Bernanke told Congress the jobs market had a long road to recovery.

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by rushabh

DealBook: Before Collapse, MF Global Had Emergency Plan

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The plan was hatched by executives at the brokerage firm in early October as a road map to survival in the worst-case scenario: What if ratings agencies downgraded MF Global to junk status?

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by rushabh

Veterans help manufacturers plug skills gap (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

photoWASHINGTON, Feb. 2, 2012 (Reuters) -- Three years ago Gabe Collins was on the front line in Kandahar province, one of the most dangerous places in war-ravaged Afghanistan, conducting search and rescue missions with the U.S. Navy. ... > read full story


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by rushabh

Articles in this series are examining challenges…

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Articles in this series are examining challenges posed by increasingly globalized high-tech industries.

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by rushabh

Signs of split among Volcker rule’s foes (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

WASHINGTON, Feb. 2, 2012 (Reuters) -- As pro-business groups clamor to convince regulators to overhaul their draft of the controversial Volcker rule, fault lines are emerging within the opposition over just what a revamped draft should look like. ... > read full story

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by rushabh

Global oil prices mixed on US demand, Iran

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

NEW YORK: World oil prices traded mixed on Thursday as traders balanced ongoing Iranian tensions with stubborn concerns over the outlook for global energy demand.

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by rushabh

Weidner: Facebook Faces Steep Expectations

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

MarketWatch.com's David Weidner make a stop on Mean Street to tell Evan Newmark despite all the hype surrounding Facebook's IPO, the company will have very tough go of it on its way to becoming a public company. Photo: AP.


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by rushabh

Are U.S. Markets Reflecting the Global Mess?

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Markets editor Paul Vigna visits Mean Street to look at Thursday's market performance, including reaction to better-than-expected jobs data and a stall in the plan to rescue Greece. Photo: AP.


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by rushabh

Fed’s Bernanke Testifies Before House

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Testifying before the House Budget Committee, Fed Chairman Ben Bernanke said Thursday that consumer sentiment remains low and uncertain job prospects along with tight mortgage credit conditions continue to hold back demand for housing. (Photo: Getty Images)


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by rushabh

Bernanke: Start Whacking Down This Debt, Now

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Federal Reserve Chairman Ben Bernanke got an earful from Congress Thursday, as he pointed out the U.S. must control its debt to avoid a crisis similar to Europe. WSJ's Jon Hilsenrath makes a stop on Mean Street to discuss. Photo: Reuters.


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by rushabh

Greek Debt Talks Progress, but Bailout Threatened by Budget Fight

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

A deal with private bondholders to reduce Greece's debt appears close, but political turmoil could derail agreement on other measures to secure the next installment of rescue funds.

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by rushabh

Bucks Blog: How to compare RushCard, Suze Orman Approved Card and Others

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

NerdWallet offers an online tool for comparing prepaid debit cards, based on information the user provides on how the card will be used.

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by rushabh

For Founders to Decorators, Facebook Riches

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Facebook’s public offering will make a lot of billionaires and millionaires, some of them prominent people and others not.

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by rushabh

Bucks Blog: FICO Says Hola to Spanish-Speaking Consumers

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Spanish-language credit reports are now available through myFICO.com.

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by rushabh

Economix Blog: What Else Does the Bible Teach About Capitalism?

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

A rabbi, writing in The Wall Street Journal, argues that the Bible is pro-capitalist. But there are plenty of anti-free-market and anti-capitalist ideas in the Scriptures, too.

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by rushabh

Facebook’s Ad Business is a $3 Billion Mystery

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

How exactly does Facebook's ad business work? We still don't know, Peter Kafka reports on digits. Photo: Getty Images.


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by rushabh

DealBook: Benetton Family Looks to Take Retailer Private

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The Benetton family plans to delist the Italian fashion chain that bears its name by buying the shares it does not already own, as retailers across Europe struggle with falling earnings and weak consumer spending.

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by rushabh

EA Posts Strong ‘Star Wars’ Sales

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Electronic Art beat 3Q expectations, boosted by strong sales of "Star Wars: The Old Republic," Ian Sherr reports on digits. Photo: EA.


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by rushabh

Hacking Questions at Times of London

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The hacking scandal at Rupert Murdoch’s British newspapers widened on Thursday when a lawmaker said police investigations had spread to the flagship Times of London.

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by rushabh

Super Bowl Ads Seek More Input From Viewers

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Thirty-second ad spots are going for a record $3.5 million this year. Suzanne Vranica on Lunch Break looks at the most anticipated ads and some of the developments this year, such as longer and more interactive ads.


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by rushabh

Facebook IPO: What Could Go Wrong?

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

What could go wrong on Facebook's march to one of the biggest IPOs in history? Shira Ovide discusses on digits. Photo: Getty Images.


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What Your Business Can Learn From Facebook Success

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

ItsYourBiz.com CEO Susan Solovic discusses what small businesses can learn from Facebook's success story?


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by rushabh

Who Is RayWJ? YouTube’s Top Star

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Ray William Johnson's raunchy riffs have made him the latest sensation on YouTube,and thanks to his cut of his shows' ad revenue and merchandise tied to his persona, he's taking home about $1 million a year. Emily Glazer has details on Lunch Break.


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by rushabh

Tumblr Hires Writers to Cover Itself

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The social blogging site has hired a content executive and a Newsweek writer to document the service and market it to users.

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by rushabh

Kodak Seeks Hollywood Exit

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Eastman Kodak is aiming to cut costs in its restructuring by giving up its expensive naming rights to the Kodak Theatre, which has been home to the Academy Awards for the past decade. Jacqueline Palank has details on Lunch Break.


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by rushabh

More Meetings Are Stand-Up Jobs

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Stand-up meetings are part of a fast-moving tech culture in which sitting has become synonymous with sloth. The object is to eliminate long-winded confabs where participants pontificate or tune out. Francesca Donner has details on Lunch Break.


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by rushabh

Advertising: Orthodontists Market to Adults Seeking Prettier Smiles

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The American Association of Orthodontists has been running ads aimed at the rising number of adults seeking braces or teeth-straightening services.

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by rushabh

Mortgage Relief Plan Aims at Refinancing

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

President Obama said a new package of legislation would make it easier for millions of homeowners to refinance at today’s historically low interest rates.

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by rushabh

MF Global risk officer says ousted after warnings (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

photoWASHINGTON, Feb. 2, 2012 (Reuters) -- The former chief risk officer at MF Global who raised red flags about the firm's aggressive trading bets told lawmakers that his warnings contributed to the firm's decision to let him go in early 2011. ... > read full story


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by rushabh

State of the Art: A Truly Wireless Mobile Scanner From Xerox – State of the Art

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The Xerox Mobile Scanner can scan and transmit photos and PDF documents wirelessly. But there’s a small obstacle to overcome first.

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by rushabh

Zynga shares soar on Facebook connection (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

photo, Feb. 2, 2012 (Reuters) -- Zynga shares jumped as much as 22 percent on Thursday in the first trading session after Facebook revealed it made 12 percent of its revenue last year from the video game publisher. ... > read full story


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by rushabh

Shareholder group slams Novartis over chairman’s pay (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

ZURICH, Feb. 2, 2012 (Reuters) -- Shareholder group Ethos called for Novartis <NOVN.VX> investors to vote against re-electing board members who were among those deciding on the pay awarded to the Swiss drugmaker's chairman, Daniel Vasella. ... > read full story

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by rushabh

Rising regulatory risk squashing M&A deals, say advisers (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

, Feb. 2, 2012 (Reuters) -- Competition watchdogs are stifling those companies still braving economic uncertainty to attempt mergers and acquisitions, say bankers and lawyers who claim the burden of bureaucracy has intensified with the financial crisis. ... > read full story

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by rushabh

NYSE Euronext, Deutsche Boerse cancel merger deal

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

NEW YORK: Deutsche Boerse and NYSE Euronext cancelled their mega-merger on Thursday after European regulators vetoed the deal.

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by rushabh

Facebook Accounting Stays Ultra-Conservative

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Facebook appears to be staying conservative in its accounting choices, after several other Internet IPOs sparked questions over how they presented their financial reports this year, Emily Chasan reports on Markets Hub.


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by rushabh

Bits Blog: How Microsoft Could Lose Its Grip on ‘Rugged’ Devices

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Most “rugged devices,” those designed to tolerate being outdoors on a regular basis, run Microsoft’s older Windows Mobile operating system, and it’s questionable how long the software giant can fend off competitors.

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by rushabh

Currency Markets Eye Bernanke Testimony

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Currency markets struggled for direction Thursday with traders nervous about putting on new bets ahead of Federal Reserve Chairman Ben Bernanke's statements, Vincent Cignarella reports on Markets Hub. Photo: REUTERS.


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by rushabh

Wealth:Business Building Tips; U.S. Dollar Outlook

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The new year is a great time for advisers to build their business. Plus, advisers are preparing clients for higher taxes. And, one strategist's view on international markets and the U.S. dollar. Dow Jones Wealth Adviser's Veronica Dagher report.


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by rushabh

Stocks Edge Higher on Jobs Data

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

U.S. stocks edged higher after a better-than-expected reading on weekly jobless claims, buoying investor sentiment. Photo: AP


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by rushabh

Jobless Claims Decline, Showing Improving Trend

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The number of U.S. workers filing new claims for unemployment benefits declined last week, continuing the mostly improving trend seen in the labor market since last fall. Kathleen Madigan reports on Markets Hub. Photo: REUTERS.


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by rushabh

A Xstrata-Glencore Merger Could Mean Combined CEO

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Mining companies Xstrata PLC and Glencore International AG explore are discussing a plan that would put Xstrata Chief Executive Mick Davis in charge of the combined entity, Dana Cimilluca reports on Markets Hub. Photo: AFP.


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by rushabh

Networks Resort to Trickery in an Attempt to Lift Ratings

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Strategies include front-loading national commercials early in a show and extending hit shows a minute or two into the following hour.

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by rushabh

Facebook Tracks Google’s Ascent

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

In wake of its IPO filing, Facebook looks like a dead ringer for a young Google, Rolfe Winkler argues on Markets Hub. Photo: KIMIHIRO HOSHINO/AFP/Getty Images


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by rushabh

Verizon-Comcast Alliance Seeing Pushback

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

WSJ's Thomas Catan reveals details behind opposition rising against a proposed marketing partnership between Verizon and Comcast. Photo by Justin Sullivan/Getty Images


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by rushabh

Easing of Loan Requirements Perks Up Car Sales

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

SmartMoney.com reporter AnnaMaria Andriotis reports automobile sales are picking up (and increasing among those with lower credit scores) thanks to looser credit standards. AP Photo/The DeSoto Appeal, Stan Carroll


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by rushabh

Facebook IPO Raises Many Questions

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

WSJ corporate deputy bureau chief Spencer Ante analyzes Facebook's IPO filing. AP Photo/Paul Sakuma, File


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by rushabh

Indian Supreme Court Cancels Wireless Licenses in Tainted Sale

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The permits had been sold at below-market prices in 2008, a controversy that became the rallying cry for a large anti-corruption movement that dominated the public debate in India last year.

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by rushabh

Fed will protect U.S. from Europe fallout: Bernanke (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

photoWASHINGTON, Feb. 2, 2012 (Reuters) -- Europe's financial crisis still threatens the U.S. recovery, and the Federal Reserve will do everything it can to prevent it from damaging the economy, Federal Reserve Chairman Ben Bernanke said on Thursday. ... > read full story


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by rushabh

Economix Blog: Where the Jobs Are, by 2020

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

A new report from the Bureau of Labor Statistics estimates that the country will add 5.6 million health care and social assistance jobs in the current decade.

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by rushabh

Europe gets bond market respite, real economy pain (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

MADRID/FRANKFURT, Feb. 2, 2012 (Reuters) -- Spain and France gained fresh relief at bond auctions on Thursday, extending a rally in euro zone government debt markets since the European Central Bank flooded banks with cheap money last month. ... > read full story

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by rushabh

Costco, Limited impress in January (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

photo, Feb. 2, 2012 (Reuters) -- A handful of U.S. retailers, including Costco Wholesale Corp <COST.O> and Limited Brands Inc <LTD.N>, beat Wall Street's expectations for January sales, but analysts are not so optimistic about department store chains and apparel chains that have yet to report on Thursday. ... > read full story


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by rushabh

MasterCard profit up 24 percent (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

, Feb. 2, 2012 (Reuters) -- MasterCard Inc <MA.N> reported a higher quarterly profit, as consumers around the world spent more money using credit and debit cards. ... > read full story

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by rushabh

Shell’s annual profit jumps to US$30.9b

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

LONDON: Energy giant Royal Dutch Shell said on Thursday that its 2011 net profit jumped by 54 percent to $30.92 billion (23.5 billion euros) on the back of higher energy prices.

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by rushabh

Planned layoffs surge in January: Challenger (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

photoNEW YORK, Feb. 2, 2012 (Reuters) -- The number of planned layoffs at U.S. firms surged in January to its highest level in four months as retailers and financial firms cut jobs, a report on Thursday showed. ... > read full story


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by rushabh

Costco January same-store sales up 8 percent (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

, Feb. 2, 2012 (Reuters) -- U.S. warehouse club operator Costco Wholesale Corp <COST.O> posted a better-than-expected 8 percent rise in January sales at stores open at least a year, helped by higher gasoline prices. ... > read full story

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by rushabh

Merck sales fall short, issues flat 2012 forecast (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

, Feb. 2, 2012 (Reuters) -- Merck & Co <MRK.N> on Thursday reported weaker-than-expected quarterly sales and predicted relatively flat 2012 results as the No. 2 drugmaker girds for cheaper generic forms of its biggest product, asthma drug Singulair. ... > read full story

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by rushabh

Dow Chemical profit misses (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

, Feb. 2, 2012 (Reuters) -- Dow Chemical Co's <DOW.N> quarterly profit and revenue missed Wall Street's expectations as demand for electronics, plastics and coatings plunged, causing the company to cut production and aggressively conserve cash. ... > read full story

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by rushabh

Analysis: Facebook’s daunting Asian challenge (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

photo, Feb. 2, 2012 (Reuters) -- Facebook aims to connect all two billion Internet users. So far it has captured 845 million of them. Of the rest, nearly 60 percent live in Asia and hooking them is going to be a daunting challenge. ... > read full story


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by rushabh

As Talks in Greece Continue, Investors Now Worry About Portugal

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Investors were predicting that Portugal would be next to impose losses on bondholders as it struggled to meet the terms of a 78 billion-euro bailout.

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by rushabh

AstraZeneca to axe 7,300 jobs despite bumper profit

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

LONDON: The Anglo-Swedish drugs giant AstraZeneca said on Thursday that it would axe 7,300 jobs by the end of 2014 in a new cost-cutting drive, despite delivering bumper annual profits.

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by rushabh

DealBook: 3 Former Traders at Credit Suisse Charged With Bond Fraud

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Federal prosecutors accused three former Credit Suisse traders of inflating the value of mortgage bonds in 2007 just as the housing market was deteriorating.

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by rushabh

Japan Airlines posts profit of $1.92b

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

TOKYO : Japan Airlines, which went bankrupt two years ago in one of the country's biggest-ever corporate failures, reported a nine-month profit of almost $2.0 billion Thursday, in part thanks to the strong yen.

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by rushabh

Miner Xstrata says Glencore wants a merger

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

ZURICH : The Swiss mining company Xstrata said Thursday that raw materials giant Glencore is seeking a merger that media reports say could be worth $80 billion.

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by rushabh

China’s Premier Wen says resolving European debt crisis ‘urgent’

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

BEIJING : China's Premier Wen Jiabao said Thursday Beijing was considering getting more involved in a bailout of struggling eurozone economies, after talks with German Chancellor Angela Merkel.

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by rushabh

Analysis: Bond benchmarks put investors in undue danger (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

LONDON, Feb. 2, 2012 (Reuters) -- Investors are needlessly exposing themselves to huge potential losses by defying two golden rules for making money through bonds - lend more to those who will pay on time in full and less to those already saturated in debt. ... > read full story

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by rushabh

China’s Wen says may become more involved in EU rescue funds (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

photoBEIJING, Feb. 2, 2012 (Reuters) -- China is considering greater involvement in the European Financial Stability Facility (EFSF) and the upcoming European Stability Mechanism (ESM), Chinese Premier Wen Jiabao told journalists on Thursday. ... > read full story


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by rushabh

Tokyo bourse suffers glitch, angers traders (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

TOKYO, Feb. 2, 2012 (Reuters) -- The Tokyo Stock Exchange suffered a major glitch in cash-share trading for the first time in six years on Thursday that prevented morning trade in some 240 shares and instruments, including Sony Corp <6758.T>, and provoked anger among traders. ... > read full story

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by rushabh

Lynas shares surge after Malaysia approves plant

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

SYDNEY: Shares in Australian miner Lynas soared almost 20 percent after Malaysia approved a controversial rare earths plant to be built despite fears it could produce harmful radioactive waste.

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by rushabh

Profit Down at Royal Dutch Shell

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The company said profit fell 4 percent in the fourth quarter because of lower natural gas prices and lower margins in its refining and distribution operations.

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by rushabh

Economix Blog: Simon Johnson: Progress on Letting Big Banks Fail

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The Federal Deposit Insurance Corporation has taken some good first steps to regulating the biggest banks, and what's more, it's doing so in public, an economist writes.

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by rushabh

Insight: Inside Rupert Murdoch’s UK newspaper clean-up operation (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

photoLONDON, Feb. 2, 2012 (Reuters) -- The centre of Rupert Murdoch's British newspaper clean-up operation is an unimposing set of offices in a corner of the company's campus in Wapping, east London. ... > read full story


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by rushabh

Three States Tell Insurers to Disclose Responses to Climate Change

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Commissioners in California, New York and Washington State will use a mandatory survey to track intended responses to severe events like wildfires.

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by rushabh

Hutch strikes again with opportunistic $1 billion tap

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

Hutch re-opens its 2017s and 2022s with a well-received $1 billion tap, taking money off the table while markets are hot.


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by rushabh

Samsung Securities says HK headcount to be more than halved

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The Korean brokerage firm confirms layoffs, but refers to the exercise as a realignment of its business rather than a reversal of its Asian strategy.


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by rushabh

Sino-Forest lurches on after fraud inquiry hits wall

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The independent committee looking into fraud allegations at Sino-Forest has reached the point of "diminishing returns" and has concluded its investigation.


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by rushabh

Carlyle cuts stake in HDFC through $270 million block

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

The tightly priced transaction is well received and is expected to encourage other financial sponsors to take profits as the Indian stock market recovers.


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by rushabh

Asian markets rise on upbeat manufacturing data

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

HONG KONG : Asian markets rose on Thursday as upbeat manufacturing data from across the globe lifted spirits, while traders were also confident Greece would soon reach a deal with creditors to slash its debt.

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by rushabh

Worst yet to come for China growth: economist (Reuters)

February 2, 2012 in Asia Pacific Business News, Syndicated Posts by rushabh

photoBEIJING, Feb. 2, 2012 (Reuters) -- Facing stiff global headwinds and a downturn in its property sector, China should cut taxes and slash banks' reserve requirements this year to underpin growth, a senior government economist said on Thursday. ... > read full story


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