Latest International Business News
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As federal agencies trim fat contracts feed billions in profits to 59 companies
View results As lawmakers take up austerity measures and the Defense Department and other agencies grapple with difficult budget choices, some contracting companies that derive their income entirely from the federal government have grown increasingly fat.Last year, 59 major publicly traded government contractors earned a combined $36 billion in profits nearly entirely from taxpayers. That was up ...
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Kids Help Dedicate New Legoland World of Chima Ride
Legoland Buddy's Brick Bunch child ambassadors - including Jack Hammond, 11, Lakeland, left to right, Alexander Rodriquez, 9, Orlando, Aidan Handley, 8, Weston, Alek Schoneck, 11, Sanford, Julianna Willette, 11, Largo, and Angela Winiewicz, 9, Orlando, on Sunday christened the main component of The World of Chima water ride. The celebration took place as the first watercraft vehicle was ...
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NY Kodak commits to keeping some operations in Rochester providing $49M for cleanup
ROCHESTER, N.Y. -- New York state and Eastman Kodak Co. have reached a deal that will keep some of the troubled company's operations in Rochester and provide $49 million for environmental cleanup at the once bustling Eastman Business Park. Local media outlets report Wednesday that Kodak will keep advanced manufacturing and its research center at the 1,200-acre site and lease property there ...
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Federal Reserve policymaking group has power over economy through control of interest rates
The Federal Reserve's chief policymaking group, the Federal Open Market Committee, has vast power over the economy through its ability to set monetary policy. Here is a look at how the FOMC operates. Q: What is the FOMC's primary role? A: Its mission is to keep the economy, inflation and employment on a healthy track. When the economy weakens, Fed policymakers cut interest rates or ...
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Business briefs Dish drops offer for Sprint turns to Clearwire
Dish Network said it was "impracticable" to make a new offer for Sprint Nextel by the mobile-phone carrier's deadline, leaving Softbank as the main contender to acquire the wireless company. Sprint's actions "have made it impracticable for Dish to submit a revised offer by the June 18th deadline," Englewood, Colo.-based Dish said in a statement. "We will ...
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Brazils manufacturing confidence at lowest level since August
Confidence among Brazil's manufacturers dipped to the lowest level since August 2012, according to a report released Wednesday.Brazil's National Industry Confederation (CNI) said in the report that the manufacturing confidence dropped from 55.4 points in May to 54.8 points in June."The downward trend in confidence among manufacturers clearly shows the competitive difficulties ...
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Boeing announces new order of 30 737 MAX from CIT
The US aviation heavyweight Boeing announced Wednesday pocketing an order of 30 medium-haul 737 MAX from airplane leasing company CIT Aerospace at the Paris Air Show.The new order came just one day after the giant American manufacture got commitments for 102 airplanes from five customers across Europe, Asia and North America and two days after Boeing announced the sale of 737 MAX to SkyMark ...
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US Fed holds steady on stimulus to support economy
The US Federal Reserve said on Wednesday that it will continue its 85-billion-dollar monthly bond purchase program to spur economic growth.In a statement following its two-day policy meeting, the Fed described the economic expansion as "moderate" while for the first time said the downside risks to the outlook for US economy and the labor market have "diminished since the ...
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Poland has more corporate bankruptcies in first five months of
In Poland, 380 firms went bankrupt in the first five months of 2013, 7 percent more than a year earlier, a report of Coface has showed.A total of 877 firms went bankrupt in Poland in 2012, up 21 percent from 2011.The processing industry has been hardest hit by recession, according to the report.Coface is a world leader in trade-credit information and protection, serving 160,000 clients in 93 ...
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Russia loses $25b due to shell firms
The network of the fly-by-night companies has illegally funneled 760 billion rubles (about $25 billion) from Russian economy in the past three years, the outgoing chief of the Central Bank said Wednesday."This May, we received an official inquiry from the Interior Ministry about some organizations that were used for the illegal financial transactions by suspects in one of criminal ...
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An app-ealing business model
"One of the problems is that many Europeans do not understand the business model behind apps," says Ann Mettler, executive director of the Lisbon Council, a Brussels-based think-tank. "They cannot understand that you can make a lot of money for something that costs so little, meaning that you need volume to make a decent return on ...
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Dubai Chamber sets up Palestine Business Council
cooperation between the northern emirates and Palestine. The newly-formed body brings the number of councils operating under the aegis of the Dubai Chamber to 43, and comprises 28 companies, co-owned and operated in Dubai by Palestinian businessmen in sectors ranging from general trading, industry, engineering, construction and finance. Samir Ebrahim Abdul Hadi, the first chair for the new ...
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Boeing’s best pitch man is a guy named Joe
Boeing executives can come across as stiff and guarded compared to their looser, brasher peers at Airbus. Not Joe Ozimek, vice president of ...
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Microsoft retreats on rules for
The Xbox One will not require a regular Internet connection. Gamers will continue to be able to use, trade, sell or loan their games just as they have been on earlier versions. Those announcements, made Wednesday, represent a reversal for Microsoft on two key decisions about its upcoming Xbox One console that had infuriated many gamers. "Since unveiling our plans for Xbox One, my team ...
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Xbox One take two -- Microsoft kills the hated DRM
demoed the Windows 8.1 interface, which included the return of the iconic start button. The lack of that button was a pain-point for some users and Microsoft responded by bringing it back. However, this did not signal defeat for the company's Modern UI -- it signaled that the company was listening to users. Yesterday, Microsoft continued this trend as ...
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World Refugee Day In their own words
Map: Australia June 20 is World Refugee Day, and this year focuses on the impact of conflict on families through the theme of '1 Family Torn Apart by War is Too Many'.The United Nations High Commissioner for Refugees says the world's poorest countries are hosting the majority of refugees.The UN says there are over 45 million refugees worldwide, with the number of people ...
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Full steam ahead for Vancouvers cruise ship industry
Christine Duffy, president and CEO of Cruise Lines International Association, is in Vancouver this week for the industry’s largest annual ...
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Couple plan to move business out of Ottawa after dispute with city
OTTAWA -- The Vaughan Side Road paintball saga is over. The city has won in court, meaning Dag and Allison Militky can't operate their paintball field any more."I'm not a child. I won't scream and cry," Dag Militky said after a court ruling.But he still can't help but feel that the city treated him unfairly.It was in the fall of 2007 that the couple, now in their ...
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Ex-Citigroup exec Froman becomes US trade rep
(14 mins ago) The US Senate confirmed White House adviser Michael Froman as the new US trade representative, just as Washington launches free trade talks with the European Union. Froman is a former managing director at Citigroup, which received a US$45 billion government rescue package in 2008 during the financial crisis, and his tenure at the too-big-to-fail bank has raised eyebrows. Some ...
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China manufacturing slowing further in June HSBC
LOS ANGELES (MarketWatch) -- China's manufacturing sector has slowed further in June, according to HSBC's preliminary results from its monthly survey, released Thursday. The "flash" version of HSBC manufacturing Purchasing Managers' Index fell to a nine-month low of 48.3, down from May's final reading of 49.2. A reading below 50 indicates contraction. The subindex ...
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Mr Rona supports Sanyas bid for 2014 World Bridge Series
The president of the World Bridge Federation Mr Gianarrigo Rona remarked that China is one of the dominant nations in Bridge, and Sanya has more advantages over other cities to hold the 2014 World Bridge Series Championships. Mr Rona expressed his appreciation for Howard Johnson Resort Sanya Bay, Pullman Oceanview Sanya Bay, MGM Grand Sanya and Sheraton Sanya Resort, and added that both hotel ...
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More industries becoming data-driven
The story is the same in one field after another, in science, politics, crime prevention, public health, sports and industries as varied as energy and advertising. All are being transformed by data-driven discovery and decisionmaking. The pioneering consumer Internet companies, like Google, Facebook and Amazon, were just the start, experts say. Today, data tools and techniques are used for tasks ...
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GLOBAL MARKETS-Asian stocks fall on Fed policy plan China data looms
Wed Jun 19, 2013 9:28pm EDT * MSCI Asia ex-Japan slips 1.7 pct, Nikkei down 0.6 pct * U.S. Treasury yields hit 15-mth high, underpin dollar * China "flash" PMI due at 0145 GMT By Chikako Mogi TOKYO, June 20 (Reuters) - Asian shares deepened losses on Thursday after U.S. Federal Reserve Chairman Ben Bernanke confirmed market fears that the Fed would begin reducing its stimulus later this ...
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Australia shares drop as Fed comments hit global equities
Wed Jun 19, 2013 9:27pm EDT (Adds details, comments, stocks on the move) SYDNEY, June 20 (Reuters) - Australian shares fell 1.2 percent on Thursday, its largest one-day drop in two-weeks, as global equities tumbled after Federal Reserve Chairman Ben Bernanke confirmed fears the U.S. central bank could begin to scale back its stimulus measures later this year. "What caught the market off ...
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World Briefing | Europe British Court Rules Against Sanctions on Iranian Bank
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Middle East Focus
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Israel and Palestine as one country?
Peace in the Middle East, it’s as illusive now as it was ten years ago and ten years before that. For many commentators, peace in the Middle East has become a myth, something local and international governments strive for or claim to support without any real hope of realization of the goal. With the current impasse between Israel and the Palestinian Authority ongoing, an old theme is being kicked around again, that of a single state that incorporates Israel and Palestine.
A single state solution is an idea that grew up in the 1920s and then died with the Six-Day War when divisions between the newly-founded Israeli state and the rest of the region were too entrenched for the idea to retain any traction. The political landscape after the war and even today is what many Jewish groups feared when Jewish Zionists were calling for a return to the biblical homeland to develop a Jewish state. Read more
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