Latest Breaking Business News
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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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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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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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US stocks end slightly lower
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Intersection of Louisiana Avenue and Hwy. 7 to be rebuilt in St. Louis Park
The busy intersection of Louisiana Avenue and Hwy. 7 will become an interchange with on- and off-ramps. The city hopes it will spur ...
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Stocks recover from an early swoon as investors reassess fears that Fed will slow stimulus
NEW YORK - Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower. U.S. markets plummeted immediately after the opening bell Thursday following a global slump prompted partly by an unexpected slowdown in Chinese manufacturing. Concern that the Federal Reserve might ease back on its economic stimulus program sooner than expected had also ...
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Merck ends development of Parkinsons disease drug preladenant based on study results
WHITEHOUSE STATION, N.J. - Merck & Co. says it is ending development of an experimental Parkinson's disease drug because the drug wasn't working. Merck says it reviewed initial data from three late-stage clinical trials and did not find evidence preladenant was more effective than a placebo. The company says it doesn't plan to file for marketing approval of the drug. It ...
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Inside View Chris Garcia of CGC Commercial
Garcia left a stable, eight-year gig as an industrial broker at Bloomington-based Cushman & Wakefield /NorthMarq, one of the Twin Cities' largest commercial real estate brokerage firms. Despite the unsettled economic climate, he was ready to strike out on his ...
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Long-term unemployed ready to work
All but one in the group was over 50 and had been unemployed 27 weeks or longer. They represent the part of unemployment that hasn't fallen with the rest of it -- long term joblessness. While the U.S. jobless rate has declined from a high of 10 percent in 2009 to 7.5 percent in the last four years, the percentage of people who are unemployed for six months or longer has hovered around 40 ...
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Microsofts Interactive Xbox One Debuts
Microsoft thinks it has the one. The company unveiled the Xbox One, an entertainment console that promises to be the one system households will need for games, television, movies and other entertainment. It will go on sale later this year, for an undisclosed price. For the past two years, Microsoft has led the gaming industry in console sales with the Xbox 360. But it's been eight ...
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Shakeup at Embroiled IRS Unit
Lois Lerner, the IRS official whose unit is at the center of the investigation into alleged Tea Party targeting, has been placed on administrative leave and a replacement has been named. Ken Corbin was named acting director of exempt organizations during Lerner's leave. He is currently deputy director of submission processing in the wage and investment division. Lerner invoked her Fifth ...
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Cramer 2 Laggards Worry Bernanke
Fed Chairman would never admit to it, but Cramer is convinced he's worried about these two laggards. And they lie at the very heart of the biggest issue facing the recovery in US economy."We still don't have any real growth ...
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House Votes for Market-Based Rates
The Republican-dominated House of Representatives on Thursday voted to switch federal student loan interest rates to a market-based system. Republicans said their plan is a long-term solution that will take politicians out of the business of setting student loan rates and using them as a bargaining chip. It is unclear, however, how much support the bill will get in the Democratic-led Senate, ...
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Tesco rules out automatic big bonuses
Source: Tesco Tesco executives will not receive a bonus in the current financial year unless they can reverse a decline in profits at Britain's biggest supermarket operator, the company said in its annual report. The report rounds off a torrid year for the company, which announced a withdrawal from the United States and wrote down the value of its global operations by $3.5 billion due to ...
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Wet spring weak construction drag Titan Machinery to loss
TITN.O ) said it expects to report a quarterly loss as demand was hit by a wet spring weather in the United States that delayed corn plantations, sending its shares down 12 percent in extended ...
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Denner added as nominee to Vivus board by activist investor
Vivus shares rose as much as 11 percent after First Manhattan, which has nearly a 10 percent stake in Vivus, expanded its slate of proposed directors from six to nine, including ...
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Ally settlement may be a boon for ResCap bondholders
GKM.N ) $2.1 billion contribution to the debts of mortgage lender Residential Capital LLC, hedge funds like Paulson & Co may have obtained a better ...
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NYSE says AEP NextEra trades stand after crash at open
NEE.N ) in a crash that happened in the first minute of trading on Thursday will stand, the New York Stock Exchange said, following the latest in a flurry of unexplained sharp drops in the ...
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Earnings Results Pandora gets lift on strong sales outlook
SAN FRANCISCO (MarketWatch) -- Shares of Pandora Media Inc. surged in after-hours trading Thursday after the online-radio company reported better-than-expected sales for the first quarter, with big gains in revenue from mobile ...
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Hewlett-Packard shares soar 17 after earnings
Marathon Patent Group's Wholly Owned Subsidiary, Sampo IP, Files Patent Infringement Lawsuit Against Starbucks Corporation, E*Trade Financial, Hewlett-Packard Company, and ...
A Look at Copenhagen
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Copenhagen leading the eco-charge
Copenhagen has, for many decades, been an extremely influential city in world affairs, most notably in the realm of environmental management and conservation activities. It is in Copenhagen that world leaders meet to agree on eco-friendly policies at the famous Copenhagen Accord, and the city will host mayors from around the world at the Copenhagen Summit. So what is the extent of the city’s leadership on such issues?
Copenhagen has long been considered one of the most environmentally friendly cities in the world. In 1973 Denmark was the first country in the world to implement a national Environmental Law, and this paved the way for a strong combination of national and municipal legislation aimed at limiting the cities carbon footprint. Read more
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