Latest Breaking Business News
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SUV passengers more likely to survive crashes
Passengers in SUVs are now known to be more likely to survive a serious crash. A new study conducted by the University of Buffalo in the US has found the driver of the SUV is as much as 10 times more likely to survive in a head-on collision where a passenger car is involved. While automakers have taken steps to improve safety in normal passenger cars, such as changing bumper designs on ...
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Spain sees rise in surplus
Spain has reported a trade surplus, the first since 1971. With imports slumping due to austerity measures, the first monthly trade surplus for more than 40 years is being seen as a positive development. However, the country is still suffering from an economic downturn with unemployment in Spain now running at 26.7%. The surplus of 634.9 million euros in March reflects a 15% plunge in ...
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Letta says perks will be stopped
Italy's coalition government has promised to abolish some salaries and perks which are handed out to government ministers. A controversial property tax will also be abolished, or frozen, by the new government of Enrico Letta, who has also promised to do away with the double salary received by some parliamentarians. Before the election, it had been mooted by Letta's coalition partners that ...
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Famous artists bring big money at auction
Paintings by Jackson Pollock, Roy Lichtenstein and Jean-Michel Basquiat smashed all previous auction records at Christie's in New York during the week. In fact, several works by popular artists brought extraordinary prices. The items made $495 million for their owners at the valuable sale of postwar and contemporary art at Christie's. However, a single Andy Warhol Painting of Marilyn ...
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Lower charges expected for Thai 3G users
3G operators in Thailand have all agreed to cut their tariffs. The Thai National Broadcasting and Telecommunications Commission has been pressuring providers to lower all their 2G and 3G tariffs by 15%. The three 3G mobile operators, Advanced Info Service, Total Access Communication and True Move have said they will launch new 3G tariff packages to reflect the request by government. It ...
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Energy Department gives nod for more US LNG exports
WASHINGTON - The Energy Department Friday gave a conditional nod authorizing Freeport LNG Expansion, L.P. and FLNG Liquefaction, LLC (Freeport) to set up a second facility for export of domestically produced liquefied natural gas (LNG) to countries that do not have a Free Trade Agreement (FTA) with the United States. The approval means that gas-hungry markets like Japan and India could start ...
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Minor setback reported on Nippon's test flight of Dreamliner
TOKYO - Japan's All Nippon Airways said Friday a modified Dreamliner had suffered a "minor" setback while conducting a test flight of an aircraft this month, but assured it was not due to overheating of lithium batteries. All Nippon Airways, the Japanese airline that is the largest operator of Boeing's beleaguered Dreamliner, said an electric distribution panel overheated and blackened during ...
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Three days after closure Bangladesh factories reopen
DHAKA - Bangladesh has re-opened hundreds of garment factories after just three days of closure following protests over pay and poor work conditions. The Bangladesh Garment Manufacturers and Exporters Association had called for the re-opening on Friday. The shutdown of factories this week was prompted by worker protests over low pay and poor working conditions sparked by the country's ...
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Developing nations set to dominate global investments says World Bank
WASHINGTON - The share of developing countries led by China and India in global investment is expected to triple by 2030 to three-fifths, from one-fifth in 2000, says the latest edition of the World Bank's Global Development Horizons (GDH) report, which explores patterns of investment, saving and capital flows as they are likely to evolve over the next two decades. Seventeen years from now, ...
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Morrisons signs deal to use Ocado logistics facility
LONDON - Morrisons Supermarkets, one of the major British retail chains, has entered into a 170 million pounds and 25-year agreement with Ocado Group plc ("Ocado"), to acquire its recently opened Dordon Customer Fulfilment Centre (CFC) in the Midlands, and lease it back with commitment to use its logistics and distribution facilities to start grocery deliveries to customers by January ...
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Microsoft warns about rise in computer viruses worldwide
A Microsoft security expert said that computer viruses are on a rise worldwide once again after years of being less popular amongst computer attackers. In a report by Fox news, the security expert Tim Rains said that although viruses were less chosen to attack systems by hackers nowadays as they used other forms of threats, but recently Microsoft security has observed that viruses are on a rise ...
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Hamish McRae Share price increase shows Lloyds Bank is healing – but only just
One of the country's most respected financial journalists and commentators Hamish McRae is an associate editor of The Independent. He was named Business and Finance Journalist of the Year 2006 at the British Press ...
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One tax law for us and another for Amazon | Nick Cohen
On the edge of Rugeley stands Amazon's largest distribution centre in Britain. Life for the workers who trudge around the 800,000 sq ft warehouse is not as bad as it was for the men who once worked in the pits of the Staffordshire coalfield, but that is not saying much. They must carry satnavs, which direct their movements round the stacks and flash warnings from managers to stop dawdling ...
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UK exporters whistle up success in a thriving new market America
When the New York Philharmonic needed cuckoo and nightingale sounds for a performance of Haydn's Toy Symphony, it was a whistle factory in Birmingham that took the call.Acme Whistles dispatched the various bird call whistles from its factory in Birmingham's jewellery quarter. It was one of the more unusual deliveries from what has become a multimillion-pound US order book for the ...
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If everyone knew the oil market was open to rigging why did no one act
petrol companies a clean bill of health after a cursory examination barely four months ago, the competition authorities in Brussels have just knocked down the corporate doors in their first move on alleged market ...
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Should John Humphrys have won an award for savaging his own boss
BBC mandarin too mighty to escape a Humphing good towsing. You don't get much more independent and award-worthy than that.Which is what the judges obviously thought. Any alternative? Just, perhaps, that it's slightly odd to bestow such accolades for unseating a boss who hadn't done anything much wrong except fail to get a grip on swift-moving events in his earliest weeks in office ...
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Amazons tax arrangements are nothing short of a work of art. Bravo
Amazon has come in for plenty of stick for paying so little tax in the UK. But its actions display such impish wit that it's hard not to revel in the majesty of a terrible thing well ...
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Three reasons why the US got itself out of an economic mess
America's economic structure, its leaders' ability to make rapid political decisions and cultural memories of the Great Depression have been the engine of its ...
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Fury at corporate tax avoidance leads to call for a global response
Anger over the financial affairs of multinationals such as Google, Amazon and Starbucks is gathering momentum in Westminster. Now the UK is poised to lead the debate about international tax reform at next month's G8 ...
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Android has become a hedge against Microsoft and Windows
(Credit: Hewlett-Packard) Hewlett-Packard rolled out another Android device this week. This could become a pattern as PC makers hedge against a world that's less about Microsoft and more about Google. On Tuesday, the largest PC maker in the world -- a dubious distinction these days ...
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UPDATE 1-US judge revives Dexias mortgage lawsuit vs JPMorgan
May 17 (Reuters) - A federal judge has revived a closely watched lawsuit accusing JPMorgan Chase & Co of misleading Belgian-French bank Dexia SA into buying more than $1.6 billion of troubled mortgage ...
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Business Board seeks to sweeten coffee farmers earnings
Coffee stakeholders are working on strategies to enhance the industry competitiveness by expanding the market share locally and internationally. The key strategy involves merging of primary coffee societies into giant cooperative institutions, ...
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Tech fair broadens and brightens seniors world
The 72-year-old Chula Vista resident will soon be able to see her grandchildren in Ohio on a daily basis. She'll be able to comparison shop without leaving her home. And, she will reconnect with old friends all over the country. All these life improvements are thanks to what she learned at Saturday's Technology Fair for the over-50 ...
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Microsoft opens full-line store at Dadeland
Microsoft store manager, Gonzalo Di Paolo, shows off a Surface tablet and colorful keyboard inside the brand new Microsoft retail store that will be opening at the Dadeland Mall on Saturday, May 18, ...
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Yahoo board to meet on $1.1B offer for Tumblr
Yahoo CEO Marissa Mayer is rumored to be planning a Monday announcement, possibly of Yahoo's purchase of Tumblr for a reported $1.1 ...
Arizona Digest
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Arizona may need to use prison labor
With Arizona’s budget deficit at state level soaring past $3 billion and projections for the next few years suggesting it might reach $10 billion, due to a highly controversial decision by the state legislature to sell a number of public buildings and then lease them back. Fortunately, not all financial news and outlooks for the state are negative, one small border town called Douglas, may just have a solution to the cash crisis facing some municipalities across the state.
Arizona’s financial situation in the wake of the universally destructive Great Recession has become dire. Our deficit for 2010 is many times higher than what it was a few years ago, before the crash of late 2008, and because of this the state legislature has become desperate to save money by cutting budgets and raise money by selling public buildings. Read more
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