Latest Breaking Business News
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Blogging platform Tumblr acquired by Yahoo for $1.1 bn
NEW YORK - Yahoo promised "not to screw it up" as it formally announced its acquisition of the popular Tumblr blogging platform for $1.1bn in cash, giving the company a much-needed base in social media to reach a younger generation of users. The relaxed wording of the memo for one of the internet giant's biggest acquisitions was echoed in the memo sent by David Karp, Tumblr's 26-year-old ...
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US drugmaker Actavis buying Warner Chilcott in $8.5bn deal
WASHINGTON/ DUBLIN - Actavis Inc, the largest US generic drug maker by market value, is acquiring Dublin-based Warner Chilcott in a deal worth $8.5billion (5.6billion pounds) including $3billion net debt, to create the third-biggest specialty pharmaceutical company in the country. Under the deal, Actavis, which itself has been the subject of bid speculation, would be offering $5billion in ...
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Bombardier unveils Challenger 350 mid sized business jet
GENEVA - Canadian aeroplane maker Bombardier has expanded its leading Challenger family of business jets with the launch of the new Challenger 350 aircraft in collaboration with global leader in private aviation, US firm NetJets. The launch on Monday was held at a special event here at the European Business Aviation Conference and Exhibition (EBACE). Bombardier said deliveries of the ...
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$254mn Eskom wind power project gets South African regulator's nod
JOHANNESBURG - The National Energy Regulator of South Africa (Nersa) has granted power producer Eskom a licence for its Sere wind farm in the Western Cape, paving the way for the company to start construction of its $254.3 million (R2.4-billion) project. Sere is the Nama word for "cool breeze". The wind farm project is scheduled to become fully commercially operational by the end of ...
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Morgan Stanley India to sell wealth management arm to StanChart
MUMBAI - The UK based Standard Chartered (StanChart) Monday announced plans to acquire the Indian private wealth management business of US multinational financial services firm Morgan Stanley for an undisclosed amount as part of plans to expand operations. The acquisition is subject to regulatory approvals. "Standard Chartered India has agreed to acquire Morgan Stanley's onshore private ...
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Construction begins on new island off Jumeirah Beach in Dubai
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 ...
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Apple CEO We pay all the taxes we owe — every single dollar
Apple CEO Tim Cook testifies on Capitol Hill in Washington, Tuesday, May 21, 2013, before the Senate Homeland Security and Governmental Affairs Permanent subcommittee on Investigations as lawmakers examine the methods employed by multinational corporations to shift profits offshore and how such activities are affected by the Internal Revenue Code. Lawmakers want to know the tax strategy of how ...
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Microsoft touts Xbox One as all-in-1 entertainment
Microsoft Corp.'s Don Mattrick unveils the next-generation Xbox entertainment and gaming console system, Tuesday, May 21, 2013, at an event in Redmond, Wash.I t's been eight years since the launch of the Xbox 360. The original Xbox debuted in 2001, and its high-definition successor premiered in 2005. (AP Photo/Ted S. ...
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Horsman joins Torrey Pines Bank
A long-time San Diego banker, Horsman was previously Chief Executive of San Diego National Bank. In 2009, San Diego National was taken over by federal regulators and sold to U.S. ...
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San Diegos Cubic to train foreign military
Cubic Simulation Systems division, based in Orlando, Fla., uses digital video projectors, high-definition screens and game-based computer graphics for marksmanship and other ...
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2 guilty in SDSU mini-dorm case
A real estate broker and a property owner have been sentenced for violating a city of San Diego ordinance that cracks down on mini-dorms, privately owned homes that are rented out to college students. The recent case sheds light again on a long-standing issue around the San Diego State University ...
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Microsoft unveils next Xbox games console
Microsoft Corp has given a first look at its new game console, hoping the newly named Xbox One will build on a solid core of gamer fans and become a hub for living room entertainment. The third-generation console, coming eight years after the Xbox 360, was unveiled by games unit chief Don Mattrick at an event at the software company's campus near ...
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Just because Royal Mail is in a fit state to be sold doesnt mean it should be | Nils Pratley
Royal Mail 's full-year profit numbers were intended to be read as the first draft of a flotation prospectus. Chief executive Moya Greene was in full warm-up mode. "Our strategy is delivering," she declared, as operating profits rose from 152m to 403m.In business terms, her claim is fair. Royal Mail is quite clearly in a fit state to be sold, if the government really is committed ...
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Bumper SSE results expected to provoke consumer outrage
Accusations that the big energy firms are profiteering at the expense of UK households will be centre stage again on Wednesday if Scottish & Southern Energy, as expected, reveals bumper profits for a second year running.Analysts are predicting the Perth-based company, which supplies 9.6m households with gas and electricity, could announce profits as high as 1.4bn for the last 12 months - a ...
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Microsoft reveals Xbox One next-generation gaming
REDMOND, Wash. — Microsoft thinks it has the one. The company revealed the Xbox One, its next-generation entertainment console, during a presentation Tuesday at its headquarters in Redmond, Wash. Don Mattrick, Microsoft's president of interactive entertainment business, called it an "all-in-one home entertainment system." He said the company has spent the past four years ...
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Jamie Dimon Crushes Critics
JPMorgan Chase Chairman and CEO Jamie Dimon on Tuesday won a crucial shareholder vote rejecting a proposal to strip him of his chairman title, a big victory for the brash leader of the country's largest ...
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Feds Dudley Tapering Tied to Economy
bond buying program , New York Fed President William Dudley said he cannot be sure whether policymakers will next lower or increase the amount of purchases, because of the "uncertain" economic outlook. "But at some point, I expect to see sufficient evidence to make me more confident about the prospect for substantial improvement in the labor market outlook," Dudley said in ...
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Families Need $58000 to Get By Poll
Americans think that a family of four would need to bring in a minimum of $58,000 a year, on average, just to get by in their community, a new Gallup survey finds. That's more than double the 2012 poverty threshold for a family of four, which was around $24,000 a year, according to the latest data from the U.S. Census Bureau. The results are not far off from what Americans told Gallup when ...
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Home Depot earnings beat expectations
Annual revenue expected to be $76.98 billion ATLANTA (AP) -- Even though the weather was poor, Home Depot posted an 18% increase in its net income for the first quarter thanks to the ongoing housing recovery.Its quarterly results topped Wall Street's view and the world's biggest home improvement chain boosted its full-year earnings and revenue forecasts Tuesday.Shares were up more than ...
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Microsoft unveils Xbox One
Microsoft thinks it has the one. The company revealed the Xbox One, its next-generation entertainment console, during a presentation Tuesday at its headquarters in Redmond, Wash. Don Mattrick, Microsoft's president of interactive entertainment business, called it an "all-in-one home entertainment system." He said the company has spent the past four years working on the ...
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Buckley Shortlisted For Top Smiths Job
Sir George Buckley, one of Britain's most seasoned industrialists, has been shortlisted for the top boardroom job at Smiths Group, the FTSE-100 engineering and technology group. I understand that Sir George, who stepped down last year from the helm of 3M, the conglomerate behind Post-It notes, is in talks about taking on the job later this year. He is understood to be one of several ...
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Microsoft adds Skype live TV to Xbox One
Xbox One. The company is positioning the new Xbox as an all-in-one entertainment system for the home. Along with gaming, which Microsoft has only briefly addressed, the system also will allow users to watch live TV, make group video calls on the TV via Skype, and search the Web. "This is the beginning of truly intelligent TV," Yusuf Mehdi, corporate vice president of marketing, ...
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Microsoft Xbox launch event live blog
Microsoft offers a glimpse Tuesday at a new-generation Xbox as videogame consoles evolve into home entertainment centres and adapt to competition from smartphones and tablets.A tented stage has been set up at the technology giant's headquarters in the city of Redmond in Washington State for an "Xbox Reveal" event to play out just weeks before a major annual E3 videogame conference ...
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Microsoft Google Refused to Work With Us on Our YouTube App
is a crowd-sourced digital magazine made in just 48 hours, chronicling how our conversations with our things are thoroughly changing our world. Learn more ...
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Herbalife hires PwC as new auditor shares up
They had risen 10.7 percent on Monday. S&P Capital IQ analyst Tom Graves had said on Monday that the stock was likely moving due to hopes that Herbalife was close to naming a new auditor and possible purchases by short-sellers buying back shares to cover their negative bets. Graves stood by his "hold" rating on the stock on ...
Nepal Focus
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Nepal reaches out for help to save tiger population
Nepal’s tigers, along with tigers across the Asian region, are being killed off by poachers and human encroachment on their habitats, with an extinction crisis mounting, the government has appealed to the international community for help.
The tiger, there is arguably no land animal so beautiful and majestic as this magnificent member of the Felidae family. These creatures have invaded the human imagination for centuries and are the national animals of India, Nepal, Bangladesh, Malaysia, as well as North and South Korea. Read more
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