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Canada threatens to retaliate against change in US meat labeling rules
OTTAWA - Canada has threatened "retaliatory measures" against the United States move changing the so-called country of origin labeling that would track beef and hogs through the meat processing and distribution systems, stating that it is discriminatory, a view shared by the World Trade Organisation. On Thursday, the United States Department of Agriculture issued a final modification to its ...
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After breaches Twitter beefs up security with two-step login
NEW YORK - Aiming to tackle recent high-profile breaches, popular micro-blogging site Twitter is introducing an optional two-step login for users to beef up security. The new system would try to ensure "it's really you" when a user signs in to Twitter, which transmits some 400 million messages a day. The move follows recent attacks into the twitter accounts of news organisations' such as ...
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Irish biotech firm Elan rejects revised Royalty Pharma bid
DUBLIN/ WASHINGTON Ireland-based biotechnology firm Elan Thursday rejected Royalty Pharma's increased $6.4 billion takeover bid, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one share. Royalty raised its hostile cash bid to $12.50 per share on Monday, from $11.25 previously, but made the new offer conditional on Elan shareholders rejecting, at a ...
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Import alert by USFDA hits Wockhardt shares
MUMBAI - Shares of Wockhardt, one of the leading Indian pharmaceutical and biotechnology companies, witnessed a sharp fall of 20% to Rs. 1,315 ($23.61) on the Bombay Stock Exchange(BSE) on Thursday after the US FDA published an import alert on one of its three manufacturing facilities near Aurangabad. The import alert, 'detention without physical examination of drugs from firms which have ...
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Ford Motor to shutdown 2 units in Australia
MELBOURNE - Ford Motor Company Wednesday announced plans of closing its local manufacturing operations in Broadmeadows and Geelong in October 2016 thereby forcing 1,200 people out of work. Spelling the end of the iconic Ford Falcon in the country, Ford Australia president Bob Graziano announced that the carmaker would shut its Victorian facilities in October 2016, bringing an end to nearly ...
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IMF warns UK against continuing austerity programme
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 ...
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Chidambaram says U.S. Federal Reserves statement misunderstood calls for calm
Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves. Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor ...
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As FTSE 100 slides again market historian says large falls becoming more frequent
is not that unusual, but they have become more frequent in recent years.On Thursday the leading index dropped 2.1%, its biggest daily percentage fall for a year, as investors fretted about a possible end to quantitative easing, especially in the US, and an economic slowdown after disappointing Chinese factory data.But stock market historian David Schwartz has been crunching the numbers and come ...
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Co-operative Bank stops offering new loans to businesses
Co-operative Group could retrench from some parts of the financial services industry - at least temporarily - emerged on Friday when its banking arm pulled out of offering new loans to business clients.Ever since the mutual's banking arm ...
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Media Talk podcast Woolwich attack coverage and Boris ban lifted
John Plunkett digests the week's media news with Roy Greenslade, Helen Zaltzman and Paul Robinson. Plus, Rebecca Nicholson celebrates a return to form for Mad ...
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Friday Newspaper Review - - Irish Business News - - May 24 2013
See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management ...
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Lessons China and Brazil Can Teach Each Other
"Brazil in essence needs to become more like China, with its investment growth, and China needs to learn from Brazil in how to support consumer spending," said Capital Economics' chief emerging markets economist, Neil Shearing, in a ...
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UK Three Quarters Through Clearing Debt
Britain may be as much as three quarters of the way through working off the high levels of debt that have stifled growth since the financial crisis began, a senior Bank of England (BoE) policymaker has said. Paul Fisher, BoE Executive Director for Markets, said national growth would remain weak across both the private and public sectors until debt levels were brought under control. ...
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Youre in their pockets High Court row over valuation in General Electric planes deal with Lebedev-controlled Blue Wings airline
One of the world's biggest aircraft valuers was accused in the High Court of being in the pockets of General Electric's vast GECAS commercial aeroplane leasing ...
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Bank of Englands Fisher says does not want U.S.-style QE pledge
CARDIFF (Reuters) - A Bank of England policymaker said on Friday he favored small additional amounts of bond purchases over time, but not a hard-to-manage commitment to longer-term stimulus like that of the U.S. Federal ...
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Handelsbanken Completes Heartwood Acquisition in UK
Swedish bank Svenska Handelsbanken AB (SHB-B.SK) Friday said it is completing its acquisition of British wealth management firm Heartwood Wealth Group Ltd. as it has now received permission from the British financial supervisory authority.MAIN FACTS:-Handelsbanken announced the agreement to acquire Heartwood on February 6.-Heartwood has around 90 employees and conducts discretionary management ...
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UK Firms Consumers Pay Down Debt Again In April
U.K. businesses and home owners continued to pay down debt in April, as confidence remains subdued despite a range of government policies to boost lending, a survey showed Friday.Data from the British Bankers Association showed non-financial U.K. businesses made a net repayment of 2.0 billion pounds ($3 billion) in April. In March they repaid GBP0.8 billion.Collectively, households also repaid ...
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European stock markets recover slightly at open
LONDON (AFP) - European stock markets rebounded modestly at the start of trading on Friday following sharp losses suffered the previous day.London's benchmark FTSE 100 index rose 0.23 percent to 6,712.15 points, Frankfurt's DAX 30 gained 0.46 percent to 8,390.16 points and in Paris the CAC 40 climbed 0.36 percent to 3,981.27.European stock markets had slumped on Thursday, with most ...
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Denny Hamlin takes Coca-Cola 600 pole with record lap
(AP Photo/Mike McCarn) Denny Hamlin climbs from his car after qualifying for Sunday's NASCAR Sprint Cup series Coca-Cola 600 auto race at Charlotte Motor Speedway in Concord, N.C., Thursday, May 23, 2013. Hamlin won the pole position for the ...
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Global stock markets fall after 7 percent collapse in Japan’s Nikkei index
Stock markets posted significant losses worldwide, led by a one-day 7.3 percent drop in Japan's Nikkei stock index, amid signs of a growing global slump and demands for increasing attacks on the working class in Japan.The Nikkei fell 1,143 points to 14,483.98, after which major indices across Europe and Asia all fell two percent or more. The Sydney stock market fell two percent to 5062, and ...
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Caterpillar CEO defends wage-cutting
expressing the logic behind the merciless drive for ever higher profits by the ruling class both in the United States and internationally. Since 2010, when he became CEO, Oberhelman has overseen a ruthless campaign to reduce workers' wages and dramatically increase corporate profits. This has included the lockout of workers in London, Ontario and the shutdown of their plant after because ...
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Market turbulence poses first serious test for Abenomics
By William MallardTOKYO (Reuters) - This week's turbulence in Tokyo markets exposes a key risk of Prime Minister Shinzo Abe's all-in strategy to revive Japan's economy - if investor confidence falters, the government and the Bank of Japan may be left with few options to turn the tide.On Friday, the Nikkei share average had another tumultuous session, traversing a 7.1 percent range ...
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Demand is soaring for Apple’s first product
The sky-high prices suggest irrational exuberance. But technology historians say there is a rational appeal to possessing an Apple-1. "It is Apple’s creation story, the physical artifact that traces this incredible success to its origins," said Spicer, a senior curator at the Computer History Museum in Mountain View, ...
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Minnesota to get stricter law on home foreclosures
Backers hope the state's new Homeowners' Bill of Rights will reduce foreclosures in Minnesota, which, more than six years into the crisis, have been declining but remain stubbornly ...
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Delta sees SP 500 in reach as rebound boosts credit ratings
Richard Anderson, CEO of Delta Air Lines, answers questions at a news conference to discuss the planned merger with Northwest Airlines on Tuesday, April 15, 2008 in New ...
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