Latest Breaking Business News
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Tax lost offshore could end world poverty says Oxfam
Oxfam estimates almost $18.5tn is being held for individuals in tax havens around the world, such as the Cayman Islands. Photograph: David Rogers/Getty ...
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Microsoft Reveals The Xbox One
Microsoft promises the Xbox One will be more than just a game console, but a "living room" with a TV tuner and cable box. Users will be able to switch between watching TV and gaming instantly through the Kinect ...
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UPDATE 4-Microsoft unveils Xbox One with Spielberg Activision tie-up
Tue May 21, 2013 7:18pm EDT By Bill Rigby and Malathi Nayak REDMOND, Wash. May 21 (Reuters) - Microsoft Corp unveiled the "Xbox One" on Tuesday, its first new gaming console in eight years, and its strongest push so far to dominate consumers' living rooms with an array of exclusive media content. The Xbox One took four years to develop and will be the launchpad for a "Halo" ...
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Australia shares seen edging up on Wall St miners may cap gains
SYDNEY | Tue May 21, 2013 7:16pm EDT SYDNEY May 22 (Reuters) - Australian shares are seen edging higher on Wednesday, after comments from Federal Reserve officials eased some concerns that the central bank might scale back its stimulus programme, helping Wall Street close at all-time highs. But mining stocks may fall on weaker copper prices . * Local share price index futures fell 0.1 ...
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Xbox One Microsoft unveils new console that changes everything
Xbox console on Tuesday that not only integrates TV, internet and gaming, but also will measure your heartbeat and recognise your voice.The company said the Xbox One will revolutionise its users' lifestyles by integrating the cloud, voice control and gesture technology into a simple, intuitive machine."It changes everything," Marc Whitten, an Xbox executive, told a packed hall of ...
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Detour Gold returns to the market
Talk about a blot on its copybook. For about three and a half years ended mid-2012, Detour Gold Corp. could do no wrong in the eyes of its employees who were beavering away on building what is slated to be the country's largest gold mine located in northeastern Ontario. Detour's investors were also more than happy over the same time period as their investments continued to grow in ...
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Canada’s banking sector can’t get ‘too complacent’ says Scotiabank chief
There’s plenty of avenues for growth in the banking sector despite the challenging economy and regulatory environment, says the head of Canada’s third biggest ...
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Gold space now a ‘buyer’s market’ Barrick chief says
TORONTO o Gold mining stocks have been decimated in recent months, but Jamie Sokalsky does not think investors should expect any corresponding uptick in M&A activity. Speaking at the Bloomberg Canada Economic Summit, the chief executive of Barrick Gold Corp. said there is a general "anti-M&A" mood in the gold space right now, and that investors don't even ask him about it ...
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US Treasury bond market at a glance
Key barometers in the Treasury market late Tuesday, compared with late Monday. Price changes in the 10-year note and 30-year bond are per $100 ...
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Bank of Japan may seek to ease bond market jitters policy seen on hold
Reuters © Bank of Japan Governor Haruhiko Kuroda arrives at the G7 Finance Ministers meeting in Aylesbury, southern England May 10, 2013. REUTERS/Alastair ...
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Stock to watch Hewlett-Packard a bargain despite recent price run-up
: After enduring a roller-coaster ride, shares of the Palo Alto, Calif.-based personal computer giant are basically flat over the past year. Its stock, however, has been roiled in recent years by a revolving door of chief executive officers as its personal computer and printing businesses continued to face competition from smartphones and tablets. Meg Whitman, who took over as CEO in late 2011 ...
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Alexander What TV system for a digital age
Q: If you were to start from scratch with a TV system in your home, how would you do it? We subscribe to Comcast's very basic programming level but are considering alternatives, including smart TVs that can display programs available online through our Mac Pro laptop. We want the capability of receiving live network news broadcasts as well as a few select programs such as PBS series and ...
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DNZ earnings fall 14pc signals $80m capital raising
DNZ Property Fund, a diversified property investor, reported a 14 per cent fall in annual earnings and plans to raise $80 million in a placement to institutional investors and a share purchase plan to help pay for two new acquisitions. Distributable profit, property investors'; favoured measure of earnings which strips out unrealised movements in the value of their portfolios, fell to $24 ...
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IMF urges Treasury to speed up sale of Lloyds and RBS
Lloyds Banking Group was escalating on Tuesday night amid reports that the International Monetary Fund is urging the Treasury to accelerate its disposal of the 65bn stakes in the two bailed-out banks.As part of its annual health check on the UK economy, the Washington-based fund is said to be telling the government that disposal of the share stakes should be a priority.Hopes of a sell-off of the ...
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First Round Of Xbox One Vs. PS4 Goes To Microsoft
and Microsoft have had a chance to give us a first look at their new consoles, and I'm handing this first round to Microsoft. First, the obvious point. Sony did not show us a console, Microsoft did. Point Microsoft -- we know what we're talking about now. The rest of the set up a bold new vision -- broad strokes all around, but impressive partnerships and a much more thorough look at ...
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Going to SF Super Bowl L
The Super Bowl 50, in 2016, will be in the San Francisco Bay Area, and the NFL championship will go to Houston the following year, the league announced Tuesday. Team owners voted for the 49ers' new stadium as host of the big game. The facility, in Santa Clara, Calif., is scheduled to open for the 2014 season. San Francisco beat out South Florida, which was stymied in its bid to stage an ...
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Bernanke Expected to Deliver Dovish Message
Ben Bernanke is expected to maintain his dovish tone when he speaks to Congress Wednesday, and he is likely to dispel any notion that the Fed is ready to cut back on its easing policy. The markets have been speculating the Fed could start to gradually cut back on its $85 billion monthly bond buying program, and that view has been furthered by some hawkish Fed officials who would like to see ...
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ESPN Cutting 300-Plus Jobs Source
Walt Disney 's most profitable unit, is cutting 300 to 400 jobs across the company and closing a small Denver office, a person with knowledge of the cuts said. The job cuts, comprising 4 to 6 percent of ESPN's staff of 7,000, include open positions that will not be filled, said the source, who asked not to be named because the information is not public.But ESPN will continue hiring for ...
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Xbox One moves Microsoft closer to living room hub
The next-generation gaming console from the software giant is about much more than gaming. It should help Microsoft realize its vision of being at the center of consumer ...
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Saks shares rise on report it hired Goldman for strategic options
They closed up 11.3 percent at $13.67 in regular trade, giving Saks a market value of more than $2 billion. Before the report, shares rose as high as $13.55, their highest level in five years after the retailer reported better than expected sales in the first ...
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Is Sony un-Japanese enough to entertain change
TOKYO (Reuters) - Few foreign activist investors have made much headway in forcing change in Japan, where a conservative corporate culture favors long-standing ties with banks, business partners and workers rather than shareholders seeking ...
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Fed officials dampen talk of imminent bond buying cutback
NEW YORK/FRANKFURT (Reuters) - Two senior Federal Reserve officials on Tuesday played down the chances that the U.S. central bank would signal a readiness to reduce its bond buying at its meeting next month, dampening speculation the Fed's ultra-easy monetary policy might end ...
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Disney-owned ESPN cutting hundreds of jobs source
(Reuters) - ESPN, the sports channel that is Walt Disney Co's most profitable unit, is cutting 300 to 400 jobs across the company and closing a small Denver office, a person with knowledge of the cuts ...
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Lorillard Adds $500 Million to Share-Repurchase Program
Lorillard Inc. (LO) has authorized an additional $500 million in share repurchases under the tobacco maker's buyback program, a move that doubles the amount of stock the company can buy.Buybacks are one of the greatest drivers behind the tobacco industry's profitability gains, as cigarette volumes have declined for years as fewer consumers smoke. Along with price increases and ...
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ADR Shares End Mostly Unchanged Ahead of Bernanke Testimony
International companies trading in New York closed mostly unchanged Tuesday ahead of testimony from Federal Reserve Chairman Ben Bernanke.The Bank of New York index of ADRs was little changed at 142.66.On Wednesday, Mr. Bernanke is scheduled to testify before Congress, and the minutes of the most recent meeting of the Fed's monetary-policy committee are to be released.On Tuesday, speeches ...
South Africa Focus
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South Africa's small but growing cruise industry
The South African cruise industry has grown considerably in recent decades, recording an expansion of over 100% in recent years. The greatest growth came between the 1990s and 2010, led predominantly by Starlight Cruises, a household name in South Africa and the owner of the market share in the South African cruise industry.
The South African cruise industry is a growing one, in comparison to more developed countries it is tiny, with just one ship (sometimes two) that grace the coasts of South Africa once a year between November and April. Read more
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