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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Asian Stocks End Mixed Ahead Of Fed Statement
Asian stocks turned in a mixed performance on Tuesday, with investor attention solely focused on Fed chairman Ben Bernanke's Congressional testimony to Congress and the release of the Fed's May minutes due this Wednesday for cues on the outlook for interest rates. The U.S. dollar edged higher after weakening against major currencies the day before following Moody's report warning ...
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Indications Stock futures point south ahead of Fed speakers
MADRID (MarketWatch) -- U.S. stock market futures turned lower on Wednesday with investors expected to look for more clues on any tapering of the Federal Reserve's easing program. Two Fed presidents with voting rights on the interest-rate setting committee are due to hit the ...
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Stocks to Watch Best Buy Home Depot are Tuesday’s stocks to watch
SAN FRANCISCO (MarketWatch) -- Tuesday is shaping up to be a big day for retail earnings, with Best Buy Co., Home Depot Inc. and Saks Inc. scheduled to release quarterly ...
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United top TV earnings
Premier League TV money after winning the title - but even the club that finishes bottom next season will exceed that income due to the top flight's huge new broadcasting ...
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Some good economic news Inflation drop is bigger than expected
Falling prices at the petrol pumps led to a bigger-than-expected drop in inflation in April, the first easing in the annual rate of price rises for six ...
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Inmarsat flies high on hopes for resolution to US agreement
is flying high despite uncertainty about the future of a key US agreement.The satellite communications specialist, which recently warned it had been hit by US government budget cuts, has climbed 31.5p to 697.5p after a buy note from Jefferies.But news overnight of a possible buyout of the spectrum assets of bankrupt US group LightSquared could have an impact on Inmarsat. Satellite company Dish ...
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Inflation falls after drop in petrol prices and airfares
inflation more than expected last month, bringing some relief to both households and Bank of England policymakers.The consumer price measure of inflation fell for the first time since last autumn and stood at 2.4% in April, down from 2.8% in March. The drop was driven by lower fuel costs and airfares as the oil price fell, more than offsetting a rise in food prices after damage to crops over the ...
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Royal Mail profits surge ahead of planned sell-off
postal service in the most ambitious privatisation since British Gas in 1986.The company, which ministers hope to float on the London stock exchange within a year, said its pre-tax profits in the year to the end of March 2013 increased to 324m from 201m a year earlier. Sales, which were boosted by a 30% rise in the price of first class stamps to 60p, increased by more than 500m to 9.3bn.The ...
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Twelve things you dont need to pay for
One of the best ways to save money is to never pay for anything you can get for free. Here are 11 things that you could end up paying for but don't need ...
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FTSE heads for new 13 year high but Carnival sinks 13 after warning on earnings
Leading shares are heading for a new 13 year high following a revival in mining shares and a spate of positive company updates.But cruise ...
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Live QA how to protect your intellectual property
1,300 patents for just 300 vacuum machines .Entrepreneurs may not consider the value of their intellectual property, or may not know how to go about applying to patent a product or register a design or trademark. And, even if you do decide to protect you ideas, at what stage in the process should you invest in intellectual property protection and which type applies to you? What areas of your ...
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Goldman Upgrades SP Target
, forecasting that the U.S. benchmark index will climb a further 5 percent to 1750 by year-end, from an initial estimate of 1625, supported by robust dividend growth and an improving macroeconomic environment in the U.S. In a report released late Monday, the U.S. investment bank also raised its targets for the coming years, expecting the index to rise by 9 percent to 1900 in 2014, and advance by ...
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Low Tax Crucial Profit Driver
Falling corporation tax has been a crucial driver of profitability over the last two decades, increasing pressure on CEOs to reduce their company's tax bill, Will Duff-Gordon, research director at financial information provider Markit, told CNBC on ...
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UK Motor Insurer Hastings Plots Stake Sale
Hastings, one of Britain's biggest providers of motor insurance, is drawing up plans to sell a minority stake in a deal that could value the company at as much as 800m. I have learnt that Hastings Insurance Group, which was founded in 1997, is considering options to exploit its rapid growth following a string of unsolicited bid approaches from private equity firms. The privately-owned ...
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Burberry earnings tumble China sales boost revenues
(31 mins ago) Luxury label Burberry said annual net profits fell 3.4 percent after it took a large exceptional charge. Earnings after tax slid to £254.3 million in 12 months to the end of March, compared with net earnings of £263.3m in its 2011-12 financial year. Burberry's performance was hit by a one-off charge of £82.9 million linked to the termination of a fragrance ...
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LONDON MARKETS U.K. Stocks Extend Gains To 12-month High
LONDON – U.K.'s benchmark stock index flirted with a more than 12-year high on Tuesday, with mining firms recouping parts of the prior day's losses and Capita PLC rallying after contract news.The FTSE 100 index rose 0.2% to 6,766.67, building on gains from Monday, when the index closed at the highest level since September 2000.Shares of Capita jumped 7.1%, after the process ...
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Mondi Appoints Fred Phaswana as Joint Chairman
Mondi PLC (MNDI.LN), a packaging and paper group, Tuesday announced the appointment of Tshamano Mohau Frederik Phaswana as joint chairman with effect from June 1.MAIN FACTS:-Phaswana will replace Cyril Ramaphosa who stepped down at the conclusion of the Annual General Meetings on May 3.-Phaswana is chairman of Standard Bank Group and The Standard Bank of South Africa.-Shares at 0905 GMT up 8 ...
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Mining Services Feel Heat as Australia Resource Boom Cools
Service companies that rode the wave of investment in Australian resources are facing harder times, reporting a slew of earnings downgrades and preparing to move their focus overseas as a decade-long mining boom slows.Transfield Services Ltd. (TSE.AU) and Boart Longyear Ltd. (BLY.AU) Tuesday became the latest contractors in the sector to warn that profit would be weaker than anticipated, and to ...
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Bond market takes wing hoping RBI actions
bond market are betting heavily on the central bank shedding some of its habitual caution by both cutting interest rates and injecting liquidity, but some analysts reckon hopes for further easing are becoming overblown. Following a suprisingly ...
Auckland Feature Story
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Auckland's infastructure needs upgrading in the long run.
Auckland may in the next few years be able to upgrade two major pieces of infastructure and reap the economic benefits for the city.
There may, in the near future, be a four-lane road of national significance (RONS) between Auckland and Whangarei, which would make travel between the country’s largest city and Northland much faster and more efficient, while providing significant economic benefits to both regions as well. Read more
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