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Workers demand more action from Italian government

Sun, 19 May 2013 10:41:41 -0400

Protesters marching in the tens of thousands rallied in Italy on Sunday to rail against the policies of the new coalition government. Around 100,000 protesters, led by trade unionists, converged on Rome to wave red flags and placards, urging changes to austerity measures. The union-led crowd called for the new government of centre-left Prime Minister, Enrico Letta, to focus on job creation ...

Americans find happiness in household wealth

Sun, 19 May 2013 10:39:30 -0400

Americans are at their most optimistic since 2007 according to a Thomson Reuters/University of Michigan index of consumer sentiment. The preliminary index has shown optimism increased to 83.7 in May as stocks surged and real estate climbed. With record stock prices boosting household wealth and unemployment down in some areas, consumers were able to see their way through the effects of ...

Construction begins on new island off Jumeirah Beach in Dubai

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 ...

Hackers take on Financial Times web site

Sun, 19 May 2013 10:37:49 -0400

Britain's Financial Times was hacked last week by a mysterious group calling itself the Syrian Electronic Army. The newspaper's technology blog was hacked to display a slogan saying: "Hacked by the Syrian Electronic Army." Several Twitter feeds run by the Financial Times were also plastered with similar slogans. The FT later said its blogs and social media accounts had been compromised ...

Digital world creeps up on Target

Sun, 19 May 2013 10:34:21 -0400

Target Corp has opened a new office base in San Francisco in order to discover technology ideas. With the second-largest US retailer trying to grow its online commerce business, a Technology Innovation Center has been set up to develop mobile commerce, which has become a particular focus of retailers because new technology allows people to use their mobile devices to shop. With a huge ...

Hackers get into important Saudi websites

Sun, 19 May 2013 10:36:20 -0400

The Saudi Arabia state news agency has reported a coordinated attack on the country's government websites. Several government websites in Saudi Arabia came under heavy cyber attacks last week, shutting them down for a short time. The attacks have been traced to IP addresses from a number of countries. Saudi investigators found the attacks had been launched from hundreds of Internet ...

Websense agrees to private equity buyout

Mon, 20 May 2013 15:13:32 -0400

Websense makes Internet security, data protection and Web filtering software mostly for businesses. It released its first products in 1996 and has been a dean of San Diego's Internet security software ...

Mortgage basics What you dont know could cost you

Mon, 20 May 2013 15:13:32 -0400

Near record-low mortgage rates have been luring potential homebuyers to the real estate market. But are you armed with the basics to take on the commitment of a home ...

Radiation hair loss cut by circadian timing

Mon, 20 May 2013 15:13:32 -0400

Hair loss is one of the most visible and distracting effects of cancer radiation therapy. That hair loss can possibly be reduced by giving radiation in the evening, a time in the circadian cycle when hair follicles are resting, according to a new study. Applications may extend to chemotherapy protocols, the study ...

McDonalds wins Temecula burger war

Mon, 20 May 2013 15:13:31 -0400

The Temecula City Council last week rejected an appeal of the Planning Commission's March approval of plans for a new McDonald's in the Palomar Village shopping center at the corner of Rancho California and Margarita ...

Wal-Mart told to provide more info in bribe case

Mon, 20 May 2013 15:13:28 -0400

WILMINGTON, Del. -; A judge in Delaware ordered attorneys for Wal-Mart Stores Inc. to turn over more information to shareholders seeking records on how the company responded to allegations of bribery involving its operations in ...

EXCLUSIVE First look at Staten Islands Empire Outlets

Mon, 20 May 2013 15:10:45 -0400

These exclusive images offer a dramatic first look at Empire Outlets, the huge shopping/dining/hotel complex planned for the Staten Island waterfront near the St. George Ferry terminal.The 340,000 square-foot project by Brooklyn-based BFC Partners will rise next to the proposed New York Wheel, the world's tallest ferris wheel, which is to be built by a different developer. Renderings ...

FirstGroup shares plunge after rights issue and sharp fall in profits

Mon, 20 May 2013 15:06:06 -0400

Tim O'Toole, FirstGroup's chief executive, said the proceeds from the rights issue would provide the flexibility and capital confidence to work on the creation of long-term value for shareholders. Photograph: FirstGroup ...

Up to 60 of whiplash claims are fraudulent or exaggerated MPs told

Mon, 20 May 2013 15:06:05 -0400

Up to 60% of the whiplash claims brought by car drivers or passengers after accidents are either fraudulent or exaggerated, MPs have been told.David Powell, a manager at Lloyd's Market Association, told the transport select committee investigation examining the size and number of whiplash payouts, that 10-60% of claims were probably not entirely genuine.The adviser to underwriters told MPs ...

Multinational tax avoiders had better beware the unappreciative taxpayer | Simon Bowers

Mon, 20 May 2013 15:06:03 -0400

tax professionals, the president of the CBI clearly feels a growing sense of frustration at the direction of the public debate over multinationals and their tax ...

Vacation Home Sales Sizzle Rentals Booking Fast

Mon, 20 May 2013 15:03:23 -0400

In the kitschy community of St. Michaels, on the Maryland shore, businesses are gearing up for the official start of the season, Memorial Day weekend. Trucks carrying dozens of bicycles are unloading into waterside racks and shopkeepers are moving their bright-colored wares out onto the sidewalks. For real estate rental agents, however, the hard work is largely done. The biggest houses are ...

United 787 Makes Uneventful Return

Mon, 20 May 2013 15:03:22 -0400

Carrying 186 passengers, including the Chairmen and CEO's of United Airlines and Boeing, the Dreamliner made an uneventful return to service in the United States. "It's great to have the Dreamliner back in service," said United CEO Jeff Smisek as he sat in United's Economy Plus section of seats ...

Tumblr’s Karp Not About the Money Dad

Mon, 20 May 2013 15:03:21 -0400

As of today, David Karp is one of the richest, 20-something entrepreneurs in America. But his dad says the sudden wealth--his 26-year-old son stands to make more than $200 million on the sale of the blogging website ...

Tumblr Deal Gives Yahoo Mobile Boost

Mon, 20 May 2013 15:03:21 -0400

With the $1.1 billion acquisition of Tumblr, Yahoo is putting a serious claim in for the future of social and mobile technology. Whether it turns out to be a boon or a bust for Yahoo shareholders, the deal will be one of the biggest tests for chief executive Marissa Mayer's ...

GrubHub Seamless Will Merge

Mon, 20 May 2013 15:03:21 -0400

Rival online takeout services Seamless North America and GrubHub announced plans Monday to combine and create a company covering more than 20,000 restaurants in 500 cities across the country. Financial terms were not disclosed. GrubHub CEO Matt Maloney and Seamless CEO Jonathan Zabusky will become CEO and president, respectively, the companies said in a joint statement. Brian McAndrews, an ...

US Oil Boom a Shock Absorber From Dollar

Mon, 20 May 2013 15:03:20 -0400

The energy boom in the world's largest economy is providing a shock absorber for major U.S. oil companies, helping to hedge a strong dollar as the increase in domestic production buffers them from from currency volatility that can pinch earnings. The relationship between oil prices and the greenback-which on Monday hovered close to near a two-year high against ...

End Too Big to Fail Fisher vs. Gregg

Mon, 20 May 2013 15:03:19 -0400

Dodd-Frank Act is "horribly complex" and doesn't solve the problem of banks being "too big to fail," Dallas Fed President Richard Fisher told CNBC on Monday. In a separate interview, former Sen. Judd Gregg--new CEO of the Securities Industry and Financial Markets Association--agreed but said he'd go in a different direction to fix it. Let's start with the common ...

Britains Cameron tells Google and others to play fair on tax

Mon, 20 May 2013 14:48:47 -0400

LONDON (Reuters) - British Prime Minister David Cameron on Monday told Google's Executive Chairman Eric Schmidt and other business leaders that he expected their companies to pay their taxes in exchange for benefiting from low tax ...

Caterpillar machinery sales down 9 percent in April led by Asia

Mon, 20 May 2013 14:48:47 -0400

CAT.N ) said on Monday that retail demand for its construction and mining equipment continued to be sluggish in April, though the sales picture appeared to be improving in almost every market outside North ...

GM gearing up for big ad push for crucial new pickups executive

Mon, 20 May 2013 14:48:47 -0400

GM.N ) redesigned Chevrolet Silverado, the most important since the automaker's bankruptcy and $50 billion taxpayer-funded bailout in 2009, is on track and advertising for its full-size trucks should begin in a few weeks, a top GM executive said on ...

Essar Likely to Sign Pact with Chinese Bank for $1 Billion Loan

Mon, 20 May 2013 14:46:29 -0400

Essar Oil Ltd. (500134.BY) will likely sign an initial agreement with a Chinese bank Tuesday for a $1 billion loan as part of the Indian company's efforts to tap overseas funds to refinance expensive local debt, a person with direct knowledge of the matter said Monday.The likely deal with China Development Bank will be supported by an agreement to supply fuel products from Essar's ...

Citi Names New CEOs of CitiMortgage Private Bank and Citi Holdings -Memo

Mon, 20 May 2013 14:46:25 -0400

Citigroup Inc. (C) shuffled the top executives of several businesses including its private bank and mortgage unit and the unit that houses non-core businesses and assets.Jane Fraser will become chief executive officer of CitiMortgage after current chief executive Sanjiv Das decided to leave the bank for other unspecified opportunities, according to a memorandum Monday from Citi's Chief ...

JPMorgan Dimon’s set to face shareholder reckoning over dual roles

Mon, 20 May 2013 14:44:52 -0400

Jamie Dimon and the 10 other directors of JPMorgan Chase take the stage in Tampa, Fla., on Tuesday, to face shareholders who can take comfort in a rising stock price and a prospering bank. But those same shareholders may also deliver a humbling rebuff to Dimon and the ...

Seamless and GrubHub to merge

Mon, 20 May 2013 14:43:47 -0400

NEW YORK Rival online takeout services Seamless North America and GrubHub on Monday announced plans to combine and create a new company covering more than 20,000 restaurants in 500 cities across the ...

Ad of the Day Coca-Cola

Mon, 20 May 2013 14:41:19 -0400

the smartphone app that earned Coca-Cola the inaugural Mobile Grand Prix at Cannes last year-which let users buy unsuspecting strangers around the world cans of soda. While that campaign lacked the explicit political theme of this one, both are built around making a gesture of kindness to someone you don't know, and are rooted in the global Kumbaya spirit of the brand's classic Hilltop ...

US STOCKS-Wall St hovers near record levels as investors hesitate to jump in

Mon, 20 May 2013 14:18:09 -0400

Mon May 20, 2013 2:18pm EDT * U.S. Fed has right monetary accommodation in place: Fed's Evans * Dow, S&P briefly hits new session highs * Yahoo's board approves $1.1 bln Tumblr acquisition * Indexes: Dow off 0.2 pct, S&P off 0.2 pct, Nasdaq 0.3 pct By Angela Moon NEW YORK, May 20 (Reuters) - U.S. stocks slipped by afternoon trade on Monday as indexes struggled to break above their record ...

Online takeout companies GrubHub and Seamless to merge

Mon, 20 May 2013 14:00:15 -0400

By Sarah McBrideSAN FRANCISCO (Reuters) - Two of the nation's biggest online food delivery businesses said they are merging in a deal that they hope will drive more orders, in more cities, through their platforms.GrubHub and Seamless, which allow consumers to easily order online from various restaurants, are part of a group of fast-growing businesses that standardize local services under a ...

Medtronic Boston Scientific patent case heads to Supreme Court

Mon, 20 May 2013 13:57:47 -0400

Medtronic and Boston Scientific is headed for the U.S. Supreme Court, the high court announced Monday. The two patents involved cover cardiac resynchronization therapy, or CRT, which gives the heart an electrical shock when its two blood-pumping chambers, or ventricles, get out of sync with each other. Last September, a federal appeals court reversed the ruling of a federal court judge in ...

Los Angeles jeweler pleads guilty in KPMG case

Mon, 20 May 2013 13:57:23 -0400

LOS ANGELES -; The owner of a Los Angeles jewelry store pleaded guilty Monday for his role in an insider-trading case involving a former senior partner at accounting firm ...

Energy Stocks Energy stocks rally top gainer among SP sectors

Mon, 20 May 2013 13:53:09 -0400

SAN FRANCISCO (MarketWatch) -- Energy stocks rose on Monday, the top gainer in the S&P 500 Index, standing head and shoulders above other sectors and up 4.3% on the ...

Blackstone group offers to take Pactera private

Mon, 20 May 2013 13:52:12 -0400

Private equity firm Blackstone Group LP, along with Pactera's CEO and other managers, have offered to take Pactera private in a deal that values the Chinese technology consulting and outsourcing firm at $680.4 million.Shares rose 31 percent Monday. Through Friday's close, before news of the offer, Pactera's stock had lost about two-thirds of its value over the past year.Blackstone ...

Ryanair reports record profits but warns growth likely to slow this year

Mon, 20 May 2013 13:50:17 -0400

Ryanair has unveiled record profits but warned growth was likely to slow this year as a result of the backdrop in Europe and rising fuel costs.The Dublin-based carrier said profits after tax rose 13% to EUR569m (481m) in the year to the end of March, while revenue also rose by 13% to EUR4.9bn.Growth in ancillary revenues - extras on top of ticket prices including paying to reserve a seat - ...

Royal Bank of Scotland leads the way as FTSE 100 hits highest level since September 2000

Mon, 20 May 2013 13:50:16 -0400

was the day's biggest riser.The bank ended 15.1p higher at 351.9p after analysts at Numis raised their recommendation from hold to buy and their target price from 308p to 410p. The broker said RBS's US business Citizens was undervalued while the profitability of its UK retail operations would be underpinned by its efficiency measures.Overall the FTSE ...

Ex-Goldman Sachs boss quits HSBC role

Mon, 20 May 2013 13:50:13 -0400

citing his "expanded responsibilities" at other businesses where he has senior roles.His departure leaves a vacancy at HSBC for a chairman of the remuneration committee, and comes weeks after shareholders in Barrick Gold voted against the $12m (7.8m) signing-on fee he received from the Canadian miner after he became co-chairman.HSBC said Thornton's resignation was entirely due to ...

Forbes Earnings Preview Hewlett-Packard

Mon, 20 May 2013 13:49:30 -0400

is expected to report poor second quarter earnings on Wednesday, May 22, 2013 with analysts expecting a 17.3% drop in earnings from a year ago. The consensus estimate is 82 cents per share, down from earnings of 98 cents per share a year ago. Over the past month, the consensus estimate has fallen from 82 cents, but it's still up from the consensus estimate of 77 cents three months ago. For ...

Forbes Earnings Preview Lowes

Mon, 20 May 2013 13:49:30 -0400

when the company reports its first quarter results on Wednesday, May 22, 2013. The consensus estimate is calling for profit of 51 cents a share, a rise from 43 cents per share a year ago. The consensus estimate has declined from 52 cents over the past three months. For the fiscal year, analysts are projecting earnings of $2.08 per share. Revenue is expected to be $13.45 billion for the quarter, ...

Ex-EA CEO John Riccitiello Warns Sony And Microsoft Not To Forget Gamers