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 Latest Business and Finance News
Amazon's tax-free European profits drop after IRS clamp-down [Reuters]
LONDON (Reuters) - The amount of money Amazon.com Inc reports through a tax-exempt vehicle in Europe ...Detail
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Monte Paschi approves increasing size of capital increase to 5 billion euros  [Reuters] 18 Apr, 2014
MILAN (Reuters) - The board of Italy's Monte dei Paschi di Siena approved increasing the size of a planned capital increase to 5 billion euros ($6.9 billion) from 3 billion euros to absorb any potential loss stemming from a E ...
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GM could benefit, too, from an ignition-switch victims fund  [Reuters] 18 Apr, 2014
(Reuters) - If General Motors Co creates a fund to compensate victims of its faulty ignition switches, an option that a top legal adviser suggested it is exploring, the company could give up strong defenses to a wave of lawsuits. ...
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Compensation battle rages four years after BP's U.S. oil spill  [Reuters] 18 Apr, 2014
(Reuters) - Four years after the Deepwater Horizon spill, oil is still washing up on the long sandy beaches of Grand Isle, Louisiana, and some islanders are fed up with hearing from BP that the crisis is over.
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Japan investment in Southeast Asia surges amid China slump  [Reuters] 18 Apr, 2014
TOKYO (Reuters) - Japanese companies' investments in Southeast Asia surged last year to almost three times the amount invested in China, after relations between Beijing and Tokyo soured in 2012 and Chinese labor costs rose, a ...
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Rain likely at few places: Met office  [Business Recorder] 18 Apr, 2014
ISLAMABAD: Pakistan Meteorological Department (PMD) on Friday forecast rain-thunderstorm for isolated places in Kashmir, Rawalpindi, Gujranwala, Lahore, Hazara divisions and Gilgit-Baltistan during the next 24 hours.The synoptic s ...
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11 arrested in crackdown  [Business Recorder] 18 Apr, 2014
MULTAN: Police claimed on Friday to have arrested 11 accused including three proclaimed offenders and recovered drugs and illegal weapons from their possession.According to police, the proclaimed offenders included Ahmad Nawaz, Mu ...
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The robot is ready - so when will deep sea mining start?  [Reuters] 18 Apr, 2014
NEWCASTLE, England/LONDON (Reuters) - The world's first deep sea mining robot sits idle on a British factory floor, waiting to claw up high grade copper and gold from the seabed off Papua New Guinea (PNG) - when a wrangle ove ...
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Pakistan's first Multi-dimensional Poverty Index initiated by Gov, UNDP, and Oxford ...  [Business Recorder] 18 Apr, 2014
ISLAMABAD: Ministry of Planning, Development and Reform, UNDP and OPHI Friday signed agreement to promote multidimensional poverty measurements and policy applications via knowledge exchange between participants; knowledge sharing ...
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513 culprits arrested in first quarter of 2014  [Business Recorder] 18 Apr, 2014
LAHORE: Punjab Highway Patrol arrested 513 culprits, including proclaimed offenders, and registered 842 cases against them in first quarter of 2014.The PHP sources said on Thursday, officials arrested 121 accused with illegal weap ...
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Passport Office Malir to be shifted in customized building in one month: DG Passport  [Business Recorder] 18 Apr, 2014
KARACHI: Director General of Immigration and Passports Sikandar Sultan Raja paid a surprise visit to Passport offices here and remained there for almost four hours without letting any official know about his presence.At this offic ...
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Musharraf case: court dismisses plea against prosecutor  [Business Recorder] 18 Apr, 2014
ISLAMABAD: The Special Court hearing Article-6 Case against Former President Pervez Musharraf on Friday rejected his plea against the appointment of prosecutor Akram Sheikh.The court headed by Justice Faisal Arab of Sindh High Cou ...
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111 shopkeepers fined; seven arrested  [Business Recorder] 18 Apr, 2014
KARACHI: As many as 111 shopkeepers were challaned and a fine of Rs 2,17,000 were imposed for overcharging in violation to the price list of essential commodities while seven were arrested.Commissioner Karachi Shoaib Ahmed Siddiqi ...
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Tech workers seek to use Steve Jobs evidence in upcoming trial on no-hire accords  [Reuters] 18 Apr, 2014
SAN FRANCISCO (Reuters) - Four large technology companies should not be allowed to limit evidence about Apple Inc co-founder Steve Jobs at an upcoming trial over no-hire agreements in Silicon Valley, according to a court document ...
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Japan, U.S. trade talks in stalemate, ministers to meet again: Japan  [Reuters] 18 Apr, 2014
WASHINGTON/TOKYO (Reuters) - U.S.-Japan talks aimed at a trade deal seen as vital to a broader regional pact are in stalemate, Japan's economy minister said, as negotiators struggle to narrow gaps ahead of a summit between th ...
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International Day for Monuments and Sites observed  [Business Recorder] 18 Apr, 2014
ISLAMABAD: International Day for Monuments and Sites (IDMS) with the theme "Heritage of Commemoration" was observed on Friday to raises awareness on preserving and conserving historical and archaeological heritage sites. ...
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Met Office predicts scattered rain for KP, Kashmir, GB, Upper Punjab  [Business Recorder] 18 Apr, 2014
PESHAWAR: The Met Office Friday predicted rain-thunderstorm at scattered places in Khyber Pakthunkhwa, Kashmir, Upper Punjab and Islamabad during next 24 hours.According to Met Office, a westerly wave lies over upper and central p ...
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Wall Street Week Ahead: Spring fever brings hope for U.S. earnings  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - Earnings season shifts into high gear next week, and with nearly one-third of S&P 500 names set to post results, investors hope the news provides a catalyst to buy stocks and leave the market's recent ...
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Disney sees operating income growth at cable networks  [Reuters] 17 Apr, 2014
LOS ANGELES (Reuters) - Walt Disney Co's cable networks are expected to record high single-digit growth in operating income and domestic affiliate revenue from fiscal 2014 through 2016, Chief Financial Officer Jay Rasulo told ...
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Apache CEO, Vermont activist build alliance on climate issues  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - Steve Farris runs a $33 billion Texas oil and gas company and turns, for advice, to a bearded Vermont environmentalist.
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Ford, IBM to face renewed U.S. lawsuit over apartheid-era abuses  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - Ford Motor Co and IBM Corp will again have to face a U.S. lawsuit claiming they encouraged race-based human rights abuses in apartheid-era South Africa, despite a series of recent court decisions limiting the ...
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Disney CFO projects operating income growth at cable networks  [Reuters] 17 Apr, 2014
LOS ANGELES (Reuters) - Walt Disney Co's cable networks are expected to record high single-digit growth in operating income and domestic affiliate revenue from fiscal 2014 through 2016, Chief Financial Officer Jay Rasulo told ...
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Ex-Goldman director Gupta starts prison term on June 17  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - Former Goldman Sachs Group Inc director Rajat Gupta is expected to begin his two-year prison term on June 17 for insider trading.
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Lululemon CEO looks beyond yoga wear for growth  [Reuters] 17 Apr, 2014
TORONTO (Reuters) - Lululemon Athletica Inc , best known for its trendy yoga wear, hopes to drive growth in coming years by expanding its range of fitness-related apparel and accelerating international plans, its newly appointed c ...
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China's new breed of whistleblowers takes on big business  [Reuters] 17 Apr, 2014
SHANGHAI (Reuters) - Chinese lawyer Hao Junbo wants to make you rich if you're a whistleblower after a bounty. For big business in China he's a headache, part of a small but fast-growing industry built around exposing co ...
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Singapore no home for luxury developers as cooling measures bite  [Reuters] 17 Apr, 2014
SINGAPORE (Reuters) - Luxury property developers in Singapore are facing their worst sales outlook in six years as a raft of government measures to cool one of the world's most expensive real estate markets bite.
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Earnings lift S&P 500, Nasdaq; S&P's best week since July  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - Stocks ended a holiday-shortened week with mostly modest gains on Thursday, though the S&P 500 notched its biggest weekly advance since July as Morgan Stanley and General Electric rallied after strong resu ...
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Retailer Michaels Stores confirms payment card data breach  [Reuters] 17 Apr, 2014
(Reuters) - Michaels Stores Inc, the biggest U.S. arts and crafts retailer, on Friday confirmed that there was a breach of certain systems that process payment cards at its U.S. stores and that of its unit, Aaron Brothers.
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S&P 500, Nasdaq rise after strong results  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - The major U.S. stock indexes ended a holiday-shortened week with mostly gains on Thursday, giving the S&P 500 its biggest weekly advance since July as Morgan Stanley and General Electric rallied after stro ...
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BlackRock's quarterly profit climbs as investors pile into funds  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - BlackRock Inc, the world's largest money manager, said on Thursday first-quarter profit rose 20 percent, boosted by strong performance fees and strength in its retail business as investors poured money in ...
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Wall Street edges higher during earnings flurry  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - Stocks advanced slightly in choppy trading on Thursday after three days of gains, as underwhelming results from tech bellwethers Google and IBM were offset by upbeat quarterly numbers, including those from Mor ...
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