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 Latest Business and Finance News
Ex-Jefferies trader sentenced to two years in prison in fraud case [Reuters]
NEW HAVEN Conn. (Reuters) - A former Jefferies Group Inc managing director convicted of defrauding i ...Detail
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Tesco boss Philip Clarke to leave  [BBC News] 21 Jul, 2014
Tesco says chief executive Philip Clarke will leave the retailer in October and will be replaced by Dave Lewis from Unilever.
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President grieved over loss of lives in Mirpur bus accident  [Business Recorder] 21 Jul, 2014
ISLAMABAD: President Mamnoon Hussain on Monday expressed grief over the loss of lives in accident of a passenger bus near Mirpur.The bus travelling from Mirpur to Samahni in Azad Kashmir fell into a trench, leaving 12 dead and aro ...
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President grieved over loss of lives in Mirpur bus accident  [Business Recorder] 21 Jul, 2014
ISLAMABAD: President Mamnoon Hussain on Monday expressed grief over the loss of lives in accident of a passenger bus near Mirpur.The bus travelling from Mirpur to Samahni in Azad Kashmir fell into a trench, leaving 12 dead and aro ...
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Julius Baer CEO sees 'fair and equitable' solution to U.S. probe  [Reuters] 21 Jul, 2014
ZURICH (Reuters) - Julius Baer said it believes it will find a "fair and equitable" solution to a U.S. criminal probe into the Swiss bank's role in helping wealthy Americans evade their taxes.
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Gas pipeline in Jaffarabad repaired, supply restored to Karachi  [Business Recorder] 21 Jul, 2014
QUETTA: The gas supply from Balochistan to Karachi and interior of Sindh was restored on Monday after the pipeline in Jaffarabad, which was blown up by unknown persons, was repaired.Officials said unknown armed men had blown up th ...
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Gas pipeline in Jaffarabad repaired, supply restored to Karachi  [Business Recorder] 21 Jul, 2014
QUETTA: The gas supply from Balochistan to Karachi and interior of Sindh was restored on Monday after the pipeline in Jaffarabad, which was blown up by unknown persons, was repaired.Officials said unknown armed men had blown up th ...
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Land dispute claims three lives in Malakand  [Business Recorder] 21 Jul, 2014
PESHAWAR: Three persons were killed and two others injured including a woman during an exchange of firing between two groups over land dispute at Skhakot area in Malakannd district on Monday.According to police, the incident occur ...
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10 die, 35 injured as passenger bus crash  [Business Recorder] 21 Jul, 2014
MIRPUR: At least 10 persons were killed while 35 others received injuries, among them 14 were in critical condition, when a speeding passenger bus skidded off from a bridge and fell into a deep nullah near Poona some 40 kilometers ...
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Saad asks PTI to eschew confrontational politics  [Business Recorder] 21 Jul, 2014
LAHORE: Pakistan Railways Minister Khawaja Saad Rafique Monday said the PTI leadership was staging protests on the roads for their own agenda instead of resolving issues through parliament.Talking to party workers at his constitue ...
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FWMC employees to donate salary for IDPs  [Business Recorder] 21 Jul, 2014
FAISALABAD: Employees of Faisalabad Waste Management Company (FWMC) has announced to donate one-day salary for Internally Displaced Persons (IDPs) of Waziristan.Managing Director FWMC told here Monday that after deducting one-day ...
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10 Corps dispatches 2nd consignment of relief goods for IDPs  [Business Recorder] 21 Jul, 2014
RAWALPINDI: Pakistan Army's 10 Corps, in its continued efforts to mitigate sufferings of their brethren in need, on Monday dispatched 32 trucks of relief goods for internally displaced persons (IDPs) of North Waziristan Ag ...
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Citis Banamex, regulator clash over who played key role in loan fraud  [Reuters] 21 Jul, 2014
MEXICO CITY/NEW YORK (Reuters) - Preliminary findings of a probe by Citigroup's Mexican unit, Banamex, into how it lost more than $500 million in a corporate loan fraud differ markedly from the results of a separate investiga ...
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A Fox-Time Warner deal would give Murdoch new heft in China  [Reuters] 21 Jul, 2014
(Reuters) - Rupert Murdoch's plan to buy Time Warner would help the Twenty-First Century Fox chairman make larger inroads in China, a fast-growing market that media moguls are finding hard to crack.
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NABE survey points to rising U.S. wage pressures  [Reuters] 21 Jul, 2014
WASHINGTON (Reuters) - The share of U.S. companies raising wages more than doubled in the three months to July from a year ago, a survey showed on Monday, suggesting a faster pace of wage growth.
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Yum, McDonald's apologize in China food supplier safety scare  [Reuters] 21 Jul, 2014
SHANGHAI (Reuters) - U.S. fast food chains McDonald's Corp and KFC-parent Yum Brands Inc apologized to Chinese consumers on Monday and said they will stop using a Shanghai meat supplier after Chinese regulators shut the firm ...
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Rs19.7mn disbursed among IDPs under Esaar program  [Business Recorder] 21 Jul, 2014
ISLAMABAD: Khyber Pakhtunkhwa Government has disbursed 19.7 million rupees among two thousand three hundred and fifty-one IDP families from North Waziristan during the last twenty four hours.According to Radio Pakistan quoting sou ...
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Four killed in gas cylinder blast  [Business Recorder] 21 Jul, 2014
PESHAWAR: Four persons were killed and two others injured when a gas cylinder exploded at CNG station on Ring Road in the limits of Chamkani police station here on Monday.Police said the gas cylinder exploded at CNG station appare ...
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Asian stocks shade firmer, upbeat on U.S. earnings  [Reuters] 21 Jul, 2014
SYDNEY (Reuters) - Asian stocks were a fraction firmer on Monday as investors set aside geopolitical concerns for the moment to focus on the generally upbeat flow of U.S. corporate earnings ahead of a host of results due this week ...
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Trading firms raised early concerns about Barclays' dark pool: WSJ  [Reuters] 21 Jul, 2014
(Reuters) - Trading firms and employees raised concerns about high-speed traders at Barclays Plc's "dark pool" months before the United States accused the bank of favoring its high-frequency trading clients, the Wall Street J ...
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RECORDER REPORT: KSE-100 morning update  [Business Recorder] 21 Jul, 2014
KARACHI: On Monday morning KSE-100 Index was at 30404.30 with a positive change of 179.41 and volume of 44,490,500 shares.High and Low were 30405.28 and 30224.89 respectively. Total volume traded in the market was 50,830,550 share ...
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Independent advice for new pensioners  [BBC News] 21 Jul, 2014
Savers will receive free independent guidance as part of a move to give unfettered access to their pension funds from next year, the government says.
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Asian stocks edge higher, upbeat on U.S. earnings  [Reuters] 21 Jul, 2014
SYDNEY (Reuters) - Asian stock markets inched higher on Monday as investors set aside geopolitical concerns to focus on the generally upbeat flow of U.S. corporate earnings ahead of a host of results due this week.
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Yum, McDonald's in Shanghai food safety investigation  [Reuters] 21 Jul, 2014
SHANGHAI (Reuters) - U.S. fast food chains McDonald's Corp and Yum! Brands Inc said they will stop using products supplied by a local meat processor after a Shanghai regulator halted the firm's operations on Sunday over ...
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Wal-Mart adds $102.9 million in Indian wholesale business in June  [Reuters] 21 Jul, 2014
MUMBAI (Reuters) - Wal-Mart Stores Inc has infused fresh funds worth 6.2 billion rupees ($102.9 million) into its Indian wholesale business in June, according to a filing made by its Indian unit to the Registrar of Companies.
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Asian stocks edge higher, upbeat on US earnings  [Reuters] 21 Jul, 2014
SYDNEY (Reuters) - Asian stock markets inched higher on Monday as investors set aside geopolitical concerns to focus on the generally upbeat flow of U.S. corporate earnings ahead of a host of results due this week.
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Maire Tecnimont to build $1.6 billion U.S. fertilizer plant  [ARY News] 21 Jul, 2014
MILAN: Italy’s Maire Tecnimont said on Monday it had signed a memorandum of understanding with Pakistan’s Fatima Group Principals and Midwest Fertilizer Corporation to build a nitrogen fertilizer complex in the United ...
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Pakistan to repay $ 1.3bn under loans to IMF  [ARY News] 21 Jul, 2014
ISLAMABAD: Pakistan will repay its loan of $ 1.3 billion to the Internationally Monetary Fund (IMF) this year, ARY News reported Monday.
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Petrol price likely to go up  [ARY News] 21 Jul, 2014
KARACHI: The petroleum prices are likely to go up this month, sources said.
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Anglo American to unveil plan to shed platinum mines, cut 20,000 jobs: media  [Reuters] 20 Jul, 2014
(Reuters) - Anglo American Plc will unveil on Monday its plan to dispose of its oldest South African platinum mines, a move that would reduce the global miner's staff count by a fifth of its total workforce, the Sunday Times ...
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UK to post 'strongest growth in G7'  [BBC News] 20 Jul, 2014
The UK economy will grow faster in 2014 than any other G7 economy, while low wage rises will keep interest rates at 0.5% until next year, an influential report says.
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