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Al Jazeera to launch US channel in August

Mon, 17 Jun 2013 16:28:01 -0400

WASHINGTON - Al Jazeera's new American channel coming in summer hopes to be different with lesser focus on celebrities or other tabloid fodder found on U.S. television news. Al Jazeera America hopes to stand out with a diet heavy on "fact-based, in-depth, long-format news." According to Ehab Al Shihabi, executive director of international operations for Al Jazeera Media Network, Al Jazeera ...

Private drug firm Aragon being acquired by Johnson and Johnson

Mon, 17 Jun 2013 17:03:46 -0400

WASHINGTON - Healthcare products conglomerate Johnson Johnson is buying privately-held Aragon Pharmaceuticals in a near $1 billion deal to gain control of its experimental drugs for prostate cancer. The acquisition of Aragon Pharmaceuticals includes its androgen receptor antagonist program targeting the treatment of prostate cancer, including its primary product candidate in phase 2 ...

No direct access provided to servers, says Apple

Mon, 17 Jun 2013 16:16:48 -0400

WASHINGTON Technology giant Apple Monday revealed that over the last six months it had received between 4,000 to 5,000 requests for customer data from U.S. law enforcement authorities relating to criminal investigations and national security matters. The disclosure comes on the heels of similar statements and data from the Microsoft and Facebook Inc last week after reaching a deal about ...

Australian consumer body reports $94mn losses due to shopping scams

Mon, 17 Jun 2013 16:28:51 -0400

SYDNEY - Australian consumers were fleeced of nearly $94 million last year due to various marketing scams, with the majority being perpetrated using text messages and direct calls, Australian Competition and Consumer Commission said in its latest report. The actual number of losses due to scams could be much higher because many go unreported, stated ACCC Deputy Chair Delia Rickard. The ...

Chevron begins production and shipment from Angola LNG

Mon, 17 Jun 2013 16:14:17 -0400

SAN RAMON, California - Production and shipment of liquefied natural gas (LNG) from Angola by Chevron Corporation's subsidiary Cabinda Gulf Oil Company Limited has commenced with the first consignment being sent to Brazil, the global energy giant has confirmed. Angola LNG is one of the largest energy projects on the African continent. "First gas at Angola LNG is an important milestone in ...

Ford Motors to increase car exports out of India CEO

Mon, 17 Jun 2013 09:30:02 -0400

Global automobile major Ford Motor Company considers India as a major market for it to grow as well as ship out more cars to other markets even as it is bringing down production in line with the demand in Europe, said a top company official. Betting big on the 'B' or compact car platform/chassis, the company also hopes to generate higher sales volume from the Asia Pacific region in few years ...

Chrysler expected to formally refuse governments request to recall older Jeeps for fire risk

Tue, 18 Jun 2013 00:24:33 -0400

DETROIT -- Chrysler is expected to file papers Tuesday explaining its refusal to recall 2.7 million older Jeep SUVs. The U.S. government asked Chrysler earlier this month to recall Grand Cherokees and Libertys because the position of the fuel tank leaves it susceptible to rupture in a rear-end crash. The ruptured tank can spill gasoline, which can ignite if an ignition source is present. The ...

Report Teacher training programs not selective enough do not prepare educators for classroom

Tue, 18 Jun 2013 00:24:32 -0400

WASHINGTON -- The nation's teacher-training programs do not adequately prepare would-be educators for the classroom, even as they produce almost triple the number of graduates needed, according to a survey of more than 1,000 programs released Tuesday. The National Council on Teacher Quality review is a scathing assessment of colleges' education programs and their admission standards, ...

Report Slowdown in US health care costs may turn into a trend not a pause

Tue, 18 Jun 2013 00:24:30 -0400

WASHINGTON -- There's good news for most companies that provide health benefits for their employees: America's slowdown in medical costs may be turning into a trend, rather than a mere pause. A report Tuesday from accounting and consulting giant PwC projects lower overall growth in medical costs for next year, even as the economy gains strength and millions of uninsured people receive ...

Health Care Inflation Slowing Down

Tue, 18 Jun 2013 00:14:04 -0400

Already sluggish health-care inflation is expected to slow down even more in 2014 as consumers, employers and the federal government continue looking to cut medical costs, a new report said Tuesday. And the rate of health-care inflation--as distinct from total medical spending--could drop further in future years as Obamacare rolls out and employers and consumers pay greater attention to costs, ...

Asia Markets Most Asian stocks drop in choppy trade before Fed

Mon, 17 Jun 2013 23:59:21 -0400

HONG KONG (MarketWatch) -- Most Asian markets retreated Tuesday in choppy trade as investors pondered whether the U.S. Federal Reserve will maintain its monthly bond purchases, with Hong Kong stocks dragged lower by a drop in mainland Chinese property and banking ...

Obama says Bernanke has stayed a lot longer than he wanted at Fed

Mon, 17 Jun 2013 23:57:53 -0400

U.S. President Barack Obama meets with Chairman of the Federal Reserve Ben Bernanke in the Oval Office of the White House in Washington, in this June 29, 2010 file ...

NTSB urges backup system to protect track work crews after Metro-North foreman killed in Conn.

Mon, 17 Jun 2013 23:21:22 -0400

HARTFORD, Conn. -- The National Transportation Safety Board has issued an urgent safety recommendation after a railroad track foreman was struck and killed by a passenger train last month in Connecticut. The agency Monday urged the Metro-North Railroad to provide backup protection for track maintenance crews that now depend on train dispatchers. Foreman Robert Luden was killed May 28 in West ...

Microsoft swaps Outlook.com linked accounts for aliases

Mon, 17 Jun 2013 23:00:47 -0400

"It's a new world" out there in terms of digital identity and security, Microsoft said Monday. And, this world is far more dangerous than it used to be. In order to mitigate e-mail infiltration by hackers and wrongdoers, Microsoft has announced that it's tossing linked accounts for ...

China May home prices rise at fastest pace this year

Mon, 17 Jun 2013 22:57:42 -0400

BEIJING (Reuters) - China's house prices rose at the fastest pace this year in May from a year earlier, though the pace of gains eased from the previous month, highlighting the dilemma facing the central bank as it balances the need to support the economy against holding down housing ...

Japan says G8 stance is sign of approval for Abenomics

Mon, 17 Jun 2013 22:57:41 -0400

British Prime Minister David Cameron (L) welcomes Japanese Prime Minister Shinzo Abe for the first plenary session of the G8 Summit at Lough Erne in Enniskillen, Northern Ireland June 17, ...

The Wolf on Wall Street Trailer Shows Leonardo DiCaprio Rolling in Mega-Wealth Debauchery

Mon, 17 Jun 2013 22:40:10 -0400

(Paramount Pictures/YouTube) The newly-released trailer for ';The Wolf of Wall Street,'; starring Leonardo DiCaprio, gives a first glimpse at Martin Scorsese’s new crime thriller about the wealth of Wall Street moguls in the ...

Targets narrow vote on executive pay suggests shareholder discontent

Mon, 17 Jun 2013 22:16:32 -0400

Despite Target's healthy stock price, investors last week approved the retailer's executive compensation policies with just 52.1 percent of the vote, a stunning rebuke to a company that Wall Street has long regarded as one of the best-run in the ...

In apparel industry advantages of Made in USA label wear thin

Mon, 17 Jun 2013 22:16:30 -0400

Workers sewed T-shirts at Los Angeles apparel firm Venley. Despite the higher production costs, the company’s owner refuses to send work overseas and produces everything ...

Federal Reserves communication plan is backfiring

Mon, 17 Jun 2013 22:16:29 -0400

Federal Reserve Chairman Ben Bernanke speaks during a news conference in Washington, Wednesday, March 20, 2013, following the Federal Open Market Committee ...

Failed Minnesota clean-coal project gets help with its debts

Mon, 17 Jun 2013 22:16:25 -0400

Minneapolis -based company that never delivered on its promise to produce electricity with clean-coal technology, is getting government help to clean up its ...

Leucadia Pizzeria ripped off for $545000

Mon, 17 Jun 2013 22:15:56 -0400

VISTA -; A Vista bookkeeper accused of embezzling more than $545,000 from the Leucadia Pizzeria chain pleaded not guilty Monday to 26 felony ...

Wall Street starts week higher on upbeat manufacturing activity

Mon, 17 Jun 2013 22:09:08 -0400

US stocks opened higher on Monday on a strong note after a slide last week, boosted by a better-than-expected manufacturing activity index in the New York area and a rebound in stocks across the world.The June Empire State Manufacturing Survey indicated that conditions for New York manufacturers improved modestly, according to the Federal Reserve Bank of New York. The general business conditions ...

Sprint Files Lawsuit Against DISH Network Corporation and Clearwire Corporation Citing the Illegality of the DISH Tender Offer for Clearwire

Mon, 17 Jun 2013 22:08:34 -0400

OVERLAND PARK, Kan. -- (BUSINESS WIRE) -- Sprint (NYSE:S) announced today that it has filed a complaint in the Delaware Court of Chancery against DISH Network Corporation (NASDAQ:DISH) and Clearwire Corporation (NASDAQ: CLWR) asking the Court to prevent the consummation of the DISH tender offer for Clearwire. Sprint believes the transaction violates Delaware law and the rights of both ...

Fed Meets as Faith in Its Bond Program Wanes

Mon, 17 Jun 2013 22:06:02 -0400

There's a wide divide on Wall Street over whether further bond purchases by the Federal Reserve can help lower interest rates, which have been rising since early May. Economists, analysts and fund managers, who participated in the latest CNBC Fed survey, were almost evenly split on the question. Of the 60 respondents, 45.8 percent said further bond purchases could help lower yields, while 44 ...

Flush with orders aerospace industry retools for future

Mon, 17 Jun 2013 21:14:32 -0400

Reuters © Airbus sales chief John Leahy attend the 50th Paris Air Show, at the Le Bourget airport near Paris, June 17, 2013. REUTERS/Pascal ...

Apple joins other tech companies in detailing government requests for data

Mon, 17 Jun 2013 21:12:21 -0400

Reacting to recent news reports about government data-gathering from major Internet companies, Apple on Monday joined several other tech companies that have begun reporting how many requests for customer information it receives from U.S. law enforcement and intelligence ...

Jack in the Box closing 67 Qdoba stores

Mon, 17 Jun 2013 21:11:57 -0400

Jack in the Box announced Monday it will shutter 67 of its Qdoba stores, but as a measure of its faith in the brand, it will open many more of the Mexican Grill outlets in the coming ...

Wall St. waiting on Bernankes words

Mon, 17 Jun 2013 21:00:33 -0400

Photo credit: Chairman Ben Bernanke (Getty) Since the U.S. economic recovery began, the Federal Reserve has emerged as the biggest power player on Wall Street, with investors hanging on to every comment made by Fed Chairman Ben Bernanke and his team. How powerful is the Fed? After recent comments from Bernanke that his agency might soon start to taper its easy-money policies over the next few ...

Scott London Speaks Out on Kickbacks

Mon, 17 Jun 2013 20:57:00 -0400

Scott London spoke to CNBC's Jane Wells about the KPMG insider trading scheme and how much he made in kickbacks. London says "nothing like this has ever happened ...

What to Do With Fannie Freddie

Mon, 17 Jun 2013 20:56:58 -0400

A bipartisan bill is in the works to replace Fannie and Freddie with a new government agency. Larry McDonald, Newedge; Ed Butowsky, Chapwood Investments; and Ron Kruszewski, Stifel Nicolaus, ...

Snowden I Am Not A Spy

Mon, 17 Jun 2013 20:56:54 -0400

NSA leaker Edward Snowden denied that he is a spy for China, reports CNBC's Eamon Javers; and should tech companies have refused the NSA? Keith Boykin, CNBC Contributor; Heather Higgins, Independent Women's Voice; and Peter Brookes, Heritage ...

Talking Numbers Netflix DreamWorks Deal

Mon, 17 Jun 2013 20:56:40 -0400

Netflix and DreamWorks struck a huge deal that will offer 300 hours of content to NFLX users. Discussing whether investors should buy either stock on the news, with Carter Worth, Oppenheimer, and Enis Taner, ...

Sprint sues Dish Clearwire to block tender offer

Mon, 17 Jun 2013 20:49:14 -0400

(Reuters) - Sprint Nextel Corp on Monday said it has sued Dish Network Corp to block its tender offer for Clearwire Corp, escalating a takeover battle that also includes Japanese mobile carrier SoftBank ...

Third Point raises Sony stake presses entertainment spin-off

Mon, 17 Jun 2013 20:49:13 -0400

TOKYO (Reuters) - New York-based hedge fund company Third Point said on Tuesday that it had raised its stake in Sony Corp and asked for an opportunity to present its proposal for a partial spin-off of the company's entertainment unit to Sony's ...

Starboards battle with Smithfield over China-deal adds to activist image

Mon, 17 Jun 2013 20:49:13 -0400

NEW YORK (Reuters) - Since Starboard Value LP was spun off as a separate hedge fund just over two years ago it has been fast gaining a reputation for aggressive shareholder activism, pushing for change in household names including AOL ...

Hedge fund manager used postal box to hide $6 million fraud Feds say

Mon, 17 Jun 2013 20:49:11 -0400

CHICAGO/SAN FRANCISCO (Reuters) - A North Carolina hedge fund manager used a personal post-office box and forged bank statements to hide his theft of about $6 million over a seven-year period, U.S. regulators and prosecutors said on ...

Couples steamy romance e-books save their home

Mon, 17 Jun 2013 20:44:08 -0400

CBS News Their youngest son had contracted a virus. Jack was forced to leave a teaching program to care for him. Jasinda, a music and theater teacher, saw her income cut when a school program was cancelled. Jasinda said they were probably about 30 days away from losing their house. At that point, they had no idea what they were going to do. "You can't really show up at ...

Coca-Cola opens Burmese bottling plant

Mon, 17 Jun 2013 20:41:31 -0400

Coca-Cola began bottling its famous soft drink in Myanmar (Burma) as part of a planned five-year, $US200 million ($A205.8 million) investment after having no local production for more than 60 years. The company announced in a press release the ceremonial inauguration of its bottling plant in Hmawbi Township, a suburb of Yangon, the country's biggest city, with local partner Pinya ...

GLOBAL MARKETS-Asian shares slide as upcoming Fed meeting jangles nerves

Mon, 17 Jun 2013 20:27:39 -0400

Mon Jun 17, 2013 10:46pm EDT * MSCI Asia ex-Japan slips 0.7 pct, Nikkei opens down 0.3 pct * Dollar steady vs yen, choppy against basket of key currencies By Chikako Mogi TOKYO, June 18 (Reuters) - Asian shares slid on Tuesday as investors waited on tenterhooks for news of the U.S. Federal Open Market Committee's plans for its stimulus programme - with the mere suggestion of fine-tuning it ...

Sprint files lawsuit against Dish and Clearwire

Mon, 17 Jun 2013 20:11:26 -0400

(Reuters) - Sprint Nextel Corp has filed a lawsuit against Dish Network Corp and Clearwire Corp to prevent the completion of Dish's offer for Clearwire's shares.The lawsuit details how Dish has "repeatedly attempted to fool Clearwire's shareholders into believing its proposal was actionable in an effort to acquire Clearwire's spectrum and to obstruct Sprint's ...

British prosecutor to charge central Libor suspect source

Mon, 17 Jun 2013 20:10:45 -0400

Former Citigroup and UBS trader Thomas Hayes is alleged to have been a central figure in a scam to rig global benchmark interest rates. (Michael ...

Class-action lawsuit filed in NYC against Warner Music Atlantic over unpaid internships

Mon, 17 Jun 2013 20:09:17 -0400

NEW YORK -- A former intern filed a class-action lawsuit Monday against Warner Music Group and Atlantic Records over his unpaid internship, similar to a spate of recent lawsuits in other industries pushing back against the widespread practice. In the filing in state Supreme Court in Manhattan, plaintiff Justin Henry says he was never paid for the office work he performed from October 2007 ...

Commuter train from NY to Long Island disabled in tunnel may have derailed no injuries cited

Mon, 17 Jun 2013 20:09:16 -0400

NEW YORK -- A commuter train from New York City to Long Island has become disabled and may have derailed in a tunnel under the East River. No injuries have been reported. Metropolitan Transportation Authority spokeswoman Marjorie Anders says it happened around 6 p.m. The 10-car Long Island Rail Road train was moving slowly as it entered the tunnel. Anders says it probably derailed. Passengers ...

Ill. governor signs nations toughest fracking regulations could lead to thousands of jobs

Mon, 17 Jun 2013 20:09:14 -0400

CHICAGO -- Illinois Gov. Pat Quinn has signed legislation giving the state the nation's strictest regulations for high-volume oil and gas drilling. In a news release, Quinn's office says the governor signed the bill Monday. Quinn says the law will "unlock the potential" for thousands of jobs in southern Illinois while protecting the environment. Quinn's signature was ...

Dominican merchants close key border market in protest over Haiti ban of poultry egg imports

Mon, 17 Jun 2013 20:09:13 -0400

SANTO DOMINGO, Dominican Republic -- Merchants in the Dominican Republic have shuttered a large border market in protest over neighboring Haiti's ban on poultry and egg imports. The Dajabon market was closed Monday seeking to pressure Haiti to drop the ban. A Dominican board says the country sells about 25 million eggs and 8 million chickens to Haiti every month. Early in June, Haiti said ...

Fullscreen YouTube channel gets Chernin-led cash infusion

Mon, 17 Jun 2013 20:06:15 -0400

The picture is getting brighter for YouTube network Fullscreen. The digital media company, which operates thousands of channels on Google’s video-sharing site, is getting an influx of cash to fuel its expansion. The Chernin Group, headed by media veteran Peter Chernin, led the Series A round of funding that included big-media backers Comcast Ventures and WPP Digital.Fullscreen helps brands ...

SP drops Ford to hold on lower 2013 earnings

Mon, 17 Jun 2013 19:54:37 -0400

A Ford logo stands above the Al Piemonte Ford dealership on June 3 in Melrose Park, Ill. S,P downgraded Ford from a "Buy" to a ...

Danish regulator tells Danske Bank to set aside more capital

Mon, 17 Jun 2013 19:46:31 -0400

Danske Bank, the country's biggest financial institution, said the order from the Danish Financial Supervisory Authority (FSA) would result over time in a rise in risk-weighted assets of around 100 billion Danish crowns ($17.89 billion) relative to the figure for the first quarter of this year of 797 ...

Tim Hortons faces pressure from another activist investor

Mon, 17 Jun 2013 19:46:30 -0400

THI.TO ), which recently outlined plans to address the concerns of activist investor Highfields Capital, now faces pressure from another activist ...

U.S. patent case climaxes with win for Canadian vibrator maker

Mon, 17 Jun 2013 19:46:30 -0400

WASHINGTON (Reuters) - Couples in the United States looking to spice up their sex lives will have to do without certain adult toys after a U.S. trade panel ruled on Monday that some companies are violating a patent held by a Canadian company for a two-armed ...

Former Microsoft exec tries his luck at building marijuana brand

Mon, 17 Jun 2013 19:41:10 -0400

In this photo taken May 30, 2013, former Mexican president Vicente Fox, left, speaks as Jamen Shively, CEO of Diego Pellicer, looks on during a news conference in ...

Hertz-owned Thrifty says offer of free rental car was a mistake apologizes to customers

Mon, 17 Jun 2013 19:06:08 -0400

DALLAS -- Thrifty Car Rental says it's sorry, but many customers who were offered a free one-day rental won't be getting that after all. The company says the offer was intended for a select group of top customers but was sent accidentally to many other people. "We're very sorry for any confusion our eagerness may have caused," the chain, which is owned by Hertz Global ...

A look at original TV shows made by online video services Netflix Amazon and Hulu

Mon, 17 Jun 2013 19:06:06 -0400

LOS ANGELES -- Netflix's deal to air 300 hours of original television programming from Dreamworks Animation in a multi-year deal is part of a trend in which online streaming video services including Amazon and Hulu are increasingly producing original shows. The new content often stacks up in length and quality to regular TV fare, and that of pay TV services such as HBO and Showtime. The ...

White House threatens veto of House farm bill over cuts to food stamp program

Mon, 17 Jun 2013 19:06:05 -0400

WASHINGTON -- The White House is threatening to veto the House version of a massive, five-year farm bill, saying food stamp cuts included in the legislation could leave some Americans hungry. The House is preparing to consider the bill this week. The legislation would cut $2 billion annually, or around 3 percent, from food stamps and make it harder for some people to qualify for the program. ...

Tweets too unsweet for Kass

Mon, 17 Jun 2013 19:03:04 -0400

Hedge-fund manager and popular markets commentator Doug Kass has turned in his Twitter membership, saying he can no longer take the "haters." "Unfortunately, there are many haters in the social blogosphere, who, perhaps because of their own issues, drown out the many good people who want a value-added investment experience by learning more and enjoying a healthy dialogue in real ...

PRISM Apple Facebook Microsoft ... Who released which data

Mon, 17 Jun 2013 18:58:31 -0400

If you're feeling dizzy in the wake of the PRISM affair, you're not alone. Here's a summary of the companies involved and what they did with your ...

Scott London I Got About $70000 in Kickbacks

Mon, 17 Jun 2013 18:56:24 -0400

Scott London spoke to CNBC's Jane Wells about the KPMG insider trading scheme and how much he made in kickbacks. London says "nothing like this has ever happened ...

London Speaks For First Time

Mon, 17 Jun 2013 18:50:44 -0400

Scott London spoke to CNBC's Jane Wells about the KPMG insider trading scheme and how much he made in kickbacks. London says "nothing like this has ever happened ...

Kabel Deutschland confirms preliminary offer from Liberty Global

Mon, 17 Jun 2013 18:43:18 -0400

Fibre optic cables of Germany's biggest cable operator, Kabel Deutschland, are pictured at the Kabel Deutschland playout center in Frankfurt February 25, ...

JCI looks to private equity to sell auto electronics unit sources

Mon, 17 Jun 2013 18:43:17 -0400

JCI.N ) is speaking to private equity firms about selling its roughly $1 billion automotive electronics unit, after buyout interest from several rival auto parts suppliers faltered, according to several people familiar with the ...

Office Depot sets annual meeting date after investor complaints

Mon, 17 Jun 2013 18:43:17 -0400

ODP.N ) on Monday said it will hold its annual shareholder meeting on August 21, after its top investor sued the second-largest U.S. office supply retailer for not holding one in the past year to elect ...

Service companies buoyed by jump in gas activity in B.C.

Mon, 17 Jun 2013 18:39:14 -0400

CALGARY o The first tankers stuffed with liquefied natural gas won't depart from Canada's West Coast for another two years at the earliest. For companies that specialize in drilling down and blasting open layers of gas-soaked rock, the intervening years between now and then stand to be busy. After enduring the worst gas-price slump in recent history, service shops and drilling outfits ...

Long-awaited Yale study raises questions about integrity of previous studies of Medtronics Infuse

Mon, 17 Jun 2013 18:02:44 -0400

Medtronic ’s Infuse spinal fusion product -- mostly paid for by Medtronic -- overstated the effectiveness of Infuse and underreported harm, according to systematic reviews of data coordinated by Yale ...

How the Dow Jones industrial average and other major indexes fared Monday

Mon, 17 Jun 2013 18:02:42 -0400

U.S. stocks rose Monday, a day with light trading volume and little in the way of major economic or corporate news. Investors are betting that the Federal Reserve will keep in place programs meant to prop up the economy. The Fed holds a two-day policy meeting beginning Tuesday. The Dow Jones industrial average rose 109.67 points, or 0.7 percent, to 15,179.85. The Standard & Poor's 500 ...

Man of Steel soars with $116.6M opening at weekend box office

Mon, 17 Jun 2013 18:02:40 -0400

LOS ANGELES -- "Man of Steel" went up, up and away at the box office. The Warner Bros. superhero film earned $116.6 million in its opening weekend. The retelling of Superman's backstory nabbed the record for biggest all-time opening in June and is the second biggest opening of the year behind "Iron Man 3," which is on the verge of cracking $400 million at the box office ...

Netflix AK Steel Advanced Micro Synergy Pharmaceuticals are big market movers Monday

Mon, 17 Jun 2013 18:02:39 -0400

NEW YORK -- Stocks that moved substantially or traded heavily Monday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE Advanced Micro Devices Inc., up 11 cents at $4.05 An article in Barron's said that the chipmaker's stock could rise substantially if its acquisition of SeaMicro is a success. AK Steel Holding Corp., down 12 cents at $3.45 The steel company said that ...

County car sales on pre-recession pace

Mon, 17 Jun 2013 18:02:15 -0400

Data released Friday by the San Diego County New Car Dealers Association shows that through May, San Diegans have bought 54,660 new cars and light trucks, a 9.5 percent gain over the same time period in 2012. If that pace continues, dealers would sell 138,594 in 2013, surpassing the 2007 total of 136,137, just before the sharp economic ...

Devils again sliding into financial mess

Mon, 17 Jun 2013 17:59:29 -0400

EXCLUSIVE The New Jersey Devils are again skating on very thin financial ice, The Post has learned.The team’s cash-strapped owner, less than six months after restructuring its debt, has missed an interest payment and now risks defaulting on its new loan, a source with direct knowledge of the situation said.The latest financial blow-up at Devils Arena Entertainment - a missed interest ...

After Hours GenMark slides after-hours on revenue cut

Mon, 17 Jun 2013 17:58:02 -0400

SAN FRANCISCO (MarketWatch) -- GenMark Diagnostics trimmed its annual revenue view, sending the company's shares tumbling in after-hours trade ...

Bullish Second Quarter Earnings Expected For Akami

Mon, 17 Jun 2013 17:54:50 -0400

(Photo credit: Wikipedia) The summer of 2013 is expected to be anything but dull. Tensions among investors and market volatility are high as we weigh the effects of quantitative easing tapering amid a world with struggling ...

Microsoft Reveals The Xbox One

Mon, 17 Jun 2013 17:54:50 -0400

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 ...

FedExs Ground Game Will Carry Earnings

Mon, 17 Jun 2013 17:54:48 -0400

FedEx Corporation is a holding company with subsidiaries that provide a broad range of transportation, e-commerce and business services under the FedEx brand. It is scheduled to announce its Q4 and full year earnings on June 19. Shares of the courier delivery services company have traded in a narrow range in the last three months after they tanked 7% post their third quarter results. Clients ...

Tax Avoidance on Agenda at G8 Summit

Mon, 17 Jun 2013 17:52:40 -0400

Corporations have stored an estimated $8.5 trillion in offshore accounts. CNBC's Steve Sedgewick reports on the ideas to bring it back to countries where the companies are located. From the G8 Summit in Northern ...

US stocks up ahead of Fed statement

Mon, 17 Jun 2013 17:49:53 -0400

Source: Reuters Wall Street has advanced, though gave up some of its earlier gains, following a Financial Times report that US Federal Reserve Chairman Ben Bernanke will signal the central bank is close to easing its US$85 billion-a-month bond-buying programme. In late afternoon trading in New York, the Dow Jones Industrial Average rose 0.41%, the Standard & Poor's 500 Index ...

Real Crisis Still Coming Pro

Mon, 17 Jun 2013 17:47:41 -0400

Discussing the impact rising interest rates will have on businesses and the economy, with Katie Stockton, MKM Partners, and Peter Schiff, Euro Pacific Capital. "The real crisis is still coming, because we didn't solve any of the problems," says ...

Details on US Data Requests Released

Mon, 17 Jun 2013 17:47:40 -0400

U.S. tech companies are asking for permission to provide some details on how many requests they get from law enforcement, reports CNBC's Eamon Javers. Stephen Ryan, McDermott Will & Emery, and Rainey Reitman, Electronic Frontier Foundation, discuss ...

Bank of America former employees We were told to lie

Mon, 17 Jun 2013 17:47:35 -0400

Former employees of Bank of America say they were told to lie to customers about whether they could modify their loans to more affordable terms. They also paid cash bonuses to bank staffers to pushing homeowners into ...

Suit Bank of America paid bonuses for foreclosures

Mon, 17 Jun 2013 17:47:33 -0400

Chesapeake hires former SEC lawyer as compliance officer

Mon, 17 Jun 2013 17:40:03 -0400

CHK.N ) on Monday named as chief compliance officer a lawyer the oil and gas company had previously hired to respond to an investigation by the Securities and Exchange ...

$A opens weaker despite Wall St increase

Mon, 17 Jun 2013 17:39:18 -0400

At 0630 AEST on Tuesday, the local unit was trading at 95.56 US cents, down from 96.21 cents on Monday.The Australian dollar, a risk appetite currency, usually moves higher if share markets rebound.But it is starting the session in weaker territory, after the Dow Jones Industrial Average gained 0.73 per cent and the broad-based S&P 500 added 0.76 per cent.Traders are taking positions ahead of ...

Gold and Silver Edge Lower as Taper Speculation Confuses Mr. Market

Mon, 17 Jun 2013 17:37:15 -0400

QE Mania: The markets ended the day sharply higher, but trading was choppy as market participants parsed signals about the Fed's asset-buying ...

This EM Bond ETFs Luck Cant Get Any Worse Can It

Mon, 17 Jun 2013 17:37:13 -0400

At least for the moment, it is fair to say emerging markets bonds are "so 2012" and it really does not matter if one is talking about the dollar-denominated variety or local currency bonds. Amid plunging currencies and heightened fears the Federal Reserve is looking to end quantitative easing, investors have scampered out of emerging markets bond ETFs at almost break-neck speed in ...

Even micro-cap companies not immune to proxy battles

Mon, 17 Jun 2013 17:35:53 -0400

It seems that size, or lack thereof, is not a factor when one investor wants to initiate an action against a public company. In what is a rarity, two micro-cap companies, neither of which generate any revenue from operations, are waging a battle. But despite their lack of size, the language employed is reminiscent of that used by the big boys. In one corner is Zara Resources, which has a market ...

Subway thrives in Canada while avoiding beverage wars

Mon, 17 Jun 2013 17:35:52 -0400

TORONTO o Subway Restaurants keeps growing steadily in Canada even though the fast-food sandwich purveyor has not followed rivals McDonald's and Tim Hortons in appealing to coffee-loving ...

Canada’s impending housing collapse not in sight

Mon, 17 Jun 2013 17:35:52 -0400

OTTAWA -- Not so fast. The purported collapse of Canada’s housing market does not appear to be in sight, and any correction down the road could likely be a mild ...

Patriot bankruptcy protest prompts arrests

Mon, 17 Jun 2013 17:34:55 -0400

Twelve demonstrators have been arrested following a protest by mine workers and their supporters in a dispute with St. Louis-based Patriot Coal. The United Mine Workers of America staged another huge protest Monday in downtown St. Louis. A spokesman for the union says 12 people were arrested for non-violent civil disobedience. Patriot wants to make significant changes to health benefits for ...

Stocks rise as investors keep wary eye on Fed

Mon, 17 Jun 2013 17:34:53 -0400

NEW YORK Stocks closed strong Monday, a sign that investors expect the Federal Reserve to leave monetary policy unchanged when central bank officials meet later this week. The Dow Jones industrial average, which had surged 191 points earlier in the session, ended up 110 points, or 0.7 percent, to close at 15,180. The Standard & Poor's 500 gained 12 points, or 0.7 percent, to finish at ...

Stocks post gains Monday

Mon, 17 Jun 2013 17:28:47 -0400

U.S. markets posted gains Monday, as economic data looked positive in reports not considered particularly major newsmakers. Trading might prove muted for the first half of the week, as investors wait for the results of a two-day meeting of Open Market Committee at the ...

Tribunes 2012 earnings fall 6 percent as company ends lengthy stay in bankruptcy case

Mon, 17 Jun 2013 16:58:41 -0400

CHICAGO -- The company that owns the Chicago Tribune, Los Angeles Times and more than 20 television station made slightly less money last year as it ended a lengthy ordeal in bankruptcy court. A financial statement released Monday shows the Tribune Co. earned $422 million in the year ending Dec. 30. The Tribune Co. emerged from a four-year stint under bankruptcy protection the day after it ...

NY lawmakers push Amtrak for bicycle baggage cars as a way to boost upstate tourism

Mon, 17 Jun 2013 16:58:40 -0400

RENSSELAER, N.Y. -- New York lawmakers want Amtrak to add baggage cars to its passenger trains that would be capable of carrying bicycles. U.S. Sen. Charles Schumer and state Sens. Betty Little of Warren County and Brad Hoylman of Manhattan said Monday such a move would get more visitors and tourism dollars into New York state. They discussed their plan at Amtrak's Albany-Rensselaer ...

Tribune ends bankruptcy stint with lower earnings

Mon, 17 Jun 2013 16:58:27 -0400

CHICAGO -; The company that owns the Chicago Tribune, Los Angeles Times and more than 20 television station made slightly less money last year as it ended a lengthy ordeal in bankruptcy ...

Severn Trents Tony Wray receives 29 pay increase

Mon, 17 Jun 2013 16:51:29 -0400

Severn Trent , which rejected a takeover bid earlier this month, has picked up a 29% pay increase. Wray saw his total pay rise to 1.34m in 2013, up from 1.03m last year, according to the company's annual report.Wray, appointed to the top job in 2007, earned a basic salary of 552,000 in 2013, but took home an additional 546,000 bonus, split between cash and shares, as well as 223,000 in cash ...

Letters Kinship carers also need support

Mon, 17 Jun 2013 16:51:28 -0400

'Six million people in the UK care for a sick, disabled or older person.Some kinship carers get an insulting 59.75 a week.' Photograph: Graham Turner for the ...

Letters Lords call for action to cap payday loans

Mon, 17 Jun 2013 16:51:27 -0400

House of Lords to the financial services bill, designed to curb the costs of payday lending. At the government's strong urging, we withdrew that amendment, based on its assurances that it shared our concerns and that it would replace our amendment with one that was more comprehensive and more effective. This it did.Since then, payday lending activities have run rampant, as the House of ...

Microsoft shows revenue hand with Office for iPhone

Mon, 17 Jun 2013 16:49:10 -0400

Computerworld - Last week's release of Office Mobile for the iPhone nailed down one of the mysteries pundits had pondered -- how Microsoft planned to generate Office revenue from Apple's iPhone and iPad. The answer: As part of Office 365, the expanded set of rent-not-own subscription plans that debuted earlier this year. But analysts were split on how effective the strategy would be in ...

Finally Fed Is Likely to Signal Its Tapering Move

Mon, 17 Jun 2013 16:49:03 -0400

economy. The Fed chairman has a double communications problem. Markets seem reluctant to acknowledge the improvement that is leading the Fed towards a taper ...

Courts Pay-to-Delay Ruling Criticized

Mon, 17 Jun 2013 16:49:02 -0400

A Supreme Court decision Monday allowing federal regulators to continue challenging "pay-for-delay" deals between pharmaceutical companies and generic drug makers on anti-competitive grounds was greeted with dismay by industry observers after the court failed to rule whether such arrangements are always legal or illegal. The ambiguity in the Supreme Court's decision in FTC v. ...

G-8 World Economic Prospects Weak

Mon, 17 Jun 2013 16:49:02 -0400

President Barack Obama glances at Britain's Prime Minister David Cameron (R) during a news conference with European Union officials at the G8 summit on June 17, 2013 in Enniskillen, Northern Ireland. Leaders from the G8 nations have gathered to discuss numerous topics with the situation in Syria expected to dominate the ...

Activist Investors Know Better Than CEO

Mon, 17 Jun 2013 16:49:01 -0400

Activist investors claim to know better for the company than the CEO and its board. Sanjay Sanghoee, Former M&A banker, and Ken Squire, 13D Monitor founder, discuss the benefits activist shareholders bring to companies they ...

Big Brother Watching If Not Listening

Mon, 17 Jun 2013 16:49:00 -0400

The debate about the NSA spying program feels like a bad game of charades. Members of Congress and leaders of three-letter agencies keep saying how much they welcome public debate about spying, then immediately regret that they're unable to talk in public about it. Winks and ear pulls follow. But one phrase has permeated the discussion over and over. "Nobody is listening to your phone ...

Former Microsoft manager wants to create Starbucks of Pot

Mon, 17 Jun 2013 16:43:45 -0400

The plans of a former Microsoft manager to create the 'Starbucks of Pot' are worrying other activists who pushed for the legalization of marijuana in Washington ...

Stocks recover from last weeks battering soar 109 points

Mon, 17 Jun 2013 16:43:22 -0400

41 minutes ago Stocks recovered from last week's drop to end higher across the board in another choppy session on Monday as investors continued to question when the Fed could begin to wind down its asset-purchase program. ...

REFILE-US STOCKS-Wall St rises in volatile session before Fed meeting

Mon, 17 Jun 2013 16:41:07 -0400

Mon Jun 17, 2013 4:41pm EDT * Eyes turn to Fed meeting and decision on stimulus * Market gains led by tech, energy stocks * Netflix, DreamWorks shares jump after deal on programs * Terex tumbles after outlook, Time Warner falls on downgrade * Indexes up: Dow 0.7 pct, S&P 500 0.6 pct, Nasdaq 0.8 pct By Ryan Vlastelica NEW YORK, June 17 (Reuters) - U.S. stocks rose on Monday but ended well off ...

Stocks Rally on Fed Hopes

Mon, 17 Jun 2013 16:33:51 -0400

FOX Business: Capitalism Lives Here The markets zoomed higher Monday in sometimes bumpy trading as traders grew slightly less nervous about when the Federal Reserve will begin tapering its bond buying. Today's Markets According to preliminary calculations, the Dow Jones Industrial Average jumped 110 points, or 0.73%, to 15180, the S&P 500 gained 12.3 points, or 0.76%, to 1639 and the ...

Mexico’s Pena Nieto plans end to 75-year Pemex monopoly in oil production

Mon, 17 Jun 2013 16:32:34 -0400

Mexican President Enrique Pena Nieto said he's negotiating support to break the state monopoly over oil and gas exploration and production this year to accelerate economic growth. In the model envisioned by Pena Nieto, state-owned Petroleos Mexicanos would develop certain fields, with others being tapped by foreign and private companies. He declined to discuss details of the proposal, or ...

Paris Air Show 2013 Embraer unveils next generation of regional jet hiking pressure on Bombardier

Mon, 17 Jun 2013 16:32:33 -0400

Brazil's Embraer S.A. upped the ante in its dogfight with Bombardier Inc. on Monday by launching its next generation of regional jets at the Paris Air Show. The so-called E-Jet E2 family will not only compete against Bombardier's current slate of regional aircraft but also the smallest of its upcoming CSeries aircraft. The planes are an update of the Brazilian manufacturer’s ...

Trust models over instincts

Mon, 17 Jun 2013 16:31:29 -0400

(MoneyWatch) When it comes to making decisions, we like to trust our instincts. This is true even when it's in our best interest to heed statistical models when making decisions. It's why so many investors still subscribe to active management despite clear evidence that following a passive strategy gives them a better chance of achieving their financial goals. Trust in instincts causes ...

State-Run Energy Companies Are Sinking These ETFs

Mon, 17 Jun 2013 16:28:47 -0400

CVX ), the two largest U.S. oil companies, are up an average of just 5.5 percent this year. Still, those numbers are fantastic when compared to some of the state-controlled oil giants that dominate an array of emerging markets ETFs. Down 20.2 percent this year, Petrobras ...

US STOCKS SNAPSHOT-Wall St ends higher eyes on Fed meeting

Mon, 17 Jun 2013 16:06:51 -0400

NEW YORK, June 17 | Mon Jun 17, 2013 4:06pm EDT NEW YORK, June 17 (Reuters) - U.S. stocks rose on Monday but ended off their highs as investors speculated on the outlook for possible changes in the Federal Reserve's stimulus program at a meeting later this week. The Dow Jones industrial average was up 109.90 points, or 0.73 percent, at 15,180.08. The Standard & Poor's 500 Index ...

Magazines Kenya Airways earnings hit by Euro Zone crisis

Mon, 17 Jun 2013 15:56:20 -0400

While the airline depends on the European market for more than one third of its revenues, depressed demand for travel from Europe has severely dented its business this year. "While China is growing and USA showing marked improvement, Europe is sluggish and has been stagnant for the last two years," said Titus Naikuni, KQ Chief Executive Officer. He made these remarks during an investor ...

Energy chief Flying across US in high-tech solar plane to boost cleaner energy use on ground

Mon, 17 Jun 2013 15:56:12 -0400

CHANTILLY, Va. -- The nation's energy secretary says a solar-powered plane that landed outside Washington early Sunday will one day offer a payoff for people on the ground. The spindly one-man craft called Solar Impulse has been flying cross-country in short hops as part of a 13-year privately funded European project. U.S. Energy Secretary Ernest Moniz praised the effort at a news ...

Soybeans slump as improving weather bolsters outlook for this years crop

Mon, 17 Jun 2013 15:56:10 -0400

Soybeans are falling as improving weather across the Midwest boosts the outlook for this year's crop. November soybeans dropped 12.75 cents, or 1 percent, to $12.855 a bushel Monday. Cold, wet weather has forced farmers to delay their soybean planting this spring, keeping prices for the crop higher over the past two months. As the weather improves, the chances of a good crop this year ...

Rimage to change name to Qumu Corp. emphasize online video

Mon, 17 Jun 2013 15:56:09 -0400

Rimage, which lost $48.3 million last year on revenue of $79.4 million, has been a provider of on-demand CD, DVD and Blu-ray disk publishing. With the name change, Rimage will emphasize the corporate online video business it obtained through the acquisition of California-based Qumu Inc. in late ...

Is legal pot ready for a Starbucks brand Activists say no but a businessman tries his luck

Mon, 17 Jun 2013 15:56:08 -0400

SEATTLE -- For the activists who led the effort to legalize recreational marijuana in Washington state last fall, Jamen Shively was one of their biggest fears: an aspiring pot profiteer whose unabashed dreams of building a cannabis empire might attract unwanted attention from the federal government or a backlash that could slow the marijuana reform movement across the country. With visionary ...

The six executives responsible for Co-op Banks troubles

Mon, 17 Jun 2013 15:48:34 -0400

From the Co-op Bank boss to the chief of the overall group, six senior executives responsible for the mutual's current woes have left the ...

France Telecom board stands by CEO amid fraud inquiry

Mon, 17 Jun 2013 15:48:34 -0400

France Telecom's executive board agreed on Monday to keep the chief executive, Stphane Richard, in his job after he was put under investigation over fraud allegedly committed during his time as a top government aide.The board said after an emergency meeting in Paris that it had "full confidence" in Richard to lead the state-backed group, which also goes by ...

Im Not a Traitor NSA Leaker Snowden

Mon, 17 Jun 2013 15:45:53 -0400

The NSA whistleblower Edward Snowden answered questions about his NSA claims online, with CNBC's Eamon Javers. The "Street Signs" panel ...

Texas Woos Northeast Gun Makers

Mon, 17 Jun 2013 15:45:52 -0400

The shootings at Sandy Hook Elementary School in Newtown, Conn., have brought into high relief one of the anachronisms of the American economy: Some of the biggest and most influential makers of firearms in the United States are located in some of its bluest - and most antigun - ...

Putins Super Bowl Bling

Mon, 17 Jun 2013 15:41:00 -0400

Russia's President Putin is being called out by New England Patriots owner Robert Kraft for allegedly stealing his Super Bowl Championship ring, with the "Street Signs" ...

Whole Foods changes English-only store policy

Mon, 17 Jun 2013 15:40:58 -0400

A Whole Foods Market in Albuquerque, N.M. is shown Thursday June 6, 2013, Two employees at the store say they were suspended after complaining about being told they couldn't speak Spanish to each other while on the job. The company has changed its English-only policy. Aqui se habla espanol. Faced with a boycott, Whole Foods has revised its English-only language policy for employees on the ...

Embraer launches next E-Jets to strong demand SkyWest orders up to $9.4 billion

Mon, 17 Jun 2013 15:33:44 -0400

EMBR3.SA ) launched a bigger and more efficient lineup of commercial E-Jets at the Paris Airshow, with a robust show of demand as it pushed deeper into a segment that rival Bombardier had staked out with its new narrow-body ...

Earnings fall at Tribune Co. parent of the L.A. Times

Mon, 17 Jun 2013 15:31:34 -0400

Ad revenue at Tribune Co.'s newspaper unit, which includes the Los Angeles Times, has fallen almost $200 million, or 14.5%, over the last two ...

China builds world’s fastest supercomputer that can do 33860 trillion calculations every second

Mon, 17 Jun 2013 15:29:48 -0400

BEIJING -- China has built the world's fastest supercomputer, almost twice as fast as the previous U.S. holder and underlining the country's rise as a science and technology ...

Northern Gateway’s biggest risk to Canada is not approving pipeline Enbridge

Mon, 17 Jun 2013 15:29:47 -0400

TERRACE, B.C. -- Enbridge Inc. shot back at critics of its proposed Northern Gateway pipeline Monday, arguing the project is making enormous and costly commitments to avoid accidents and that the biggest risk to the country is not approving ...

Whos who at the 2013 G8

Mon, 17 Jun 2013 15:28:53 -0400

British Prime Minister David Cameron is hosting this year's G8 summit which will meet in Northern Ireland June 17-18, 2013. Cameron outlined his country's top three priorities for the G8 in an open letter: Trade liberalization, tax reform and transparency and accountability. Prime Minister Cameron was elected in May ...

Google settlement means stock split can proceed

Mon, 17 Jun 2013 15:28:52 -0400

GOOG ) has resolved a shareholder lawsuit blocking a long-delayed stock split, clearing the way for the Internet search leader to issue a new class of non-voting shares later this year. The settlement announced Monday came on the eve of a scheduled Delaware chancery court trial that threatened to cast an unflattering light on Google co-founders Larry Page and Sergey Brin. The class-action by the ...

McDonalds Sued Over Debit Cards

Mon, 17 Jun 2013 15:27:49 -0400

Natalie Gunshannon, of Dallas Township, Pa., is suing saying the McDonald's where she worked paid her through a debit card that was loaded with ...

Wall Street gains 1 as investors bet on Fed support

Mon, 17 Jun 2013 15:27:28 -0400

US stocks rose 1%, recovering much of last week's losses in one day as investors bet that the Fed would reaffirm its policies of supporting the economic recovery later this ...

Expert AEG Lives involvement with Michael Jacksons doctor a conflict of interest

Mon, 17 Jun 2013 14:54:22 -0400

LOS ANGELES -- An expert testifying for Michael Jackson's mother says he believes it was a conflict of interest for the promoter of the superstar's comeback concerts to negotiate with his doctor. David Berman is a longtime record company executive and attorney. He told a jury hearing Katherine Jackson's lawsuit against AEG Live LLC that he has never heard of another company ...

Texas Gov. Rick Perry courts Connecticut gun manufacturers businesses in job-poaching tour

Mon, 17 Jun 2013 14:54:20 -0400

HARTFORD, Conn. -- Texas Gov. Rick Perry has come to Connecticut in search of gun manufacturing and other jobs while talking up the importance of competition. Perry met privately with gun manufacturers and other businesses at a downtown Hartford restaurant on Monday. He told reporters it's part of his state's drive to compete for jobs. Gun manufacturers say they're considering ...

$100 for a Cronut Chef to crack down on delivery service scalpers

Mon, 17 Jun 2013 14:50:34 -0400

A new delivery service is charging $100 to get customers the trendy Cronut. Residents of New York City are famous for getting everything delivered to them--groceries, dry cleaning, Thai takeout at 2 a.m.And now a new delivery service is cashing in on the latest food craze by bringing ...

Energy Stocks Energy stocks top SP 500 sector gainers

Mon, 17 Jun 2013 14:49:49 -0400

SAN FRANCISCO (MarketWatch) -- Energy stocks rose Monday, following the broader U.S. stock market on a rally ahead of this week's Federal Open Market Committee ...

Eight questions the Co-operative Bank needs to answer

Mon, 17 Jun 2013 14:46:52 -0400

Co-op Bank has been laid low by 12 big loans which together account for 900m of the 1.7bn of 'impaired' loans on its books. But who were these loans to? Small investors who have lost half the money in their PIBS (permanent interest bearing shares) rightly want to know where their money has gone. Defunct shopping centres? Collapsed property developers? Co-op Bank has never revealed the ...

Dreamliner and A380 deals announced at Paris air show

Mon, 17 Jun 2013 14:46:51 -0400

Total orders on day one of the Paris air show topped $30bn (19bn) as deals were announced for the troubled 787 Dreamliner and the rival A380 superjumbo.The world's biggest aircraft lessor, General Electric-owned GECAS, signed an order for ...

The Co-operative Bank bail-in does nothing for banking diversity | Tony Greenham

Mon, 17 Jun 2013 14:46:50 -0400

'The British Co-op is not actually a co-operative bank; it is a regular commercial bank that is owned by the Co-operative Group.' Photograph: Stuart Clarke / Rex ...

Forbes Earnings Preview Red Hat

Mon, 17 Jun 2013 14:46:20 -0400

reports its first quarter earnings on Wednesday, June 19, 2013. The Wall Street consensus is 22 cents per share, up 10% from a year ago when Red Hat reported earnings of 20 cents per share. The consensus estimate is down from three months ago when it was 24 cents, but is unchanged over the past month. For the fiscal year, analysts are expecting earnings of 94 cents per share. Revenue is ...

Big Bond Bear Lurks but Companies Still Love Debt

Mon, 17 Jun 2013 14:44:28 -0400

If the big bull market in bonds is about to end, somebody had better tell corporate America, and fast. Despite the doom and gloom surrounding fixed income, bond issuance has been at record levels through the year, with no signs of pullback, particularly from companies looking to cash in on still-cheap ...

Worker Lawsuits I Want Overtime Pay

Mon, 17 Jun 2013 14:44:27 -0400

A Chicago police officer sues to get overtime pay for using his BlackBerry when he's off the clock. A New York lawyer sues his law firm in a class action suit alleging he put in more than 40 hours a week and didn't get paid for overtime. Nine employees for Russell Stover Candies claim the Missouri-based firm mislabeled them as sales representatives and in doing so, deprived them of ...

When Will Oil Prices Hurt the Economy

Mon, 17 Jun 2013 14:44:26 -0400

A new report says Iran is sending 4,000 troops to help back Syrian President Bashar al Assad. CNBC's Steve Liesman and Tom Petrie, Petrie Partners, discuss how the oil market is ...

Microsoft beefs up Windows Phone speech recognition -- twice as fast more accurate

Mon, 17 Jun 2013 14:43:15 -0400

Despite its limitations, the Windows Phone voice assistant has at least one good thing going for it. The speech recognition service quickly understands words, sentences and commands, with answers to questions like "What is the weather in New York" popping up in a matter of seconds. Microsoft still hasn't tackled the feature set but, today, the software giant announced that the ...

Lloyds To Hit Back Over Branch Sale Claims

Mon, 17 Jun 2013 14:42:09 -0400

The chairman and chief executive of Lloyds Banking Group will hit back on Tuesday at claims that they succumbed to political pressure to sell a major branch network to the Co-operative. Sky News understands that Lloyds has submitted written evidence to the Treasury Select Committee (TSC) containing what it will say is "proof" that its now-abandoned deal with the Co-op was agreed on ...

9 Arrested in 7-Eleven Crime

Mon, 17 Jun 2013 14:39:15 -0400

7-Eleven franchisees are charged with identity theft and money laundering, reports CNBC's Andrea Day. The 7-Eleven owners created a "modern-day plantation system" according to the U.S. ...

National Security Silicon Valley vs. Washington

Mon, 17 Jun 2013 14:39:11 -0400

Tech companies are being criticized for cooperating too closely with the National Security Agency when it comes to sharing data. CNBC's Eamon Javers, and Jon Fortt, ...

NSA Whistleblower Speaks Out

Mon, 17 Jun 2013 14:39:08 -0400

CNBC's Eamon Javers reports Edward Snowden participated in an online Q&A, where he discussed American tech companies, and the NSA surveillance ...

How to maximize your savings before buying a home

Mon, 17 Jun 2013 14:39:08 -0400

CNBC's personal finance correspondent Sharon Epperson explains that when parking your money in a savings account, you should pick one that's with an FDIC insured institution, watch out for fees if you want to withdrawal funds and select a high-yield or money market ...

GM recalls 230000 midsize SUVs over fire risk

Mon, 17 Jun 2013 14:39:03 -0400

A line of GMC Envoy SUV's at a car lot in Troy, Michigan in 2006. General Motors is recalling another 230,000 midsize SUVs due to a potential fire risk serious enough that the maker also is advising owners to park outside until repairs can be made.The recall expands upon an action GM took last August - that time covering about 250,000 vehicles, including the Chevrolet Trailblazer and GMC ...

European stocks start week with solid gains

Mon, 17 Jun 2013 14:36:07 -0400

European stock markets rose solidly on Monday as traders looked ahead to a key US Federal Reserve meeting due mid-week while keeping an eye over the G8 summit in Northern Ireland. London's FTSE 100 index of leading shares climbed 0.35 percent to end at 6,330.49 points, Frankfurt's DAX 30 index jumped 1.08 percent to 8,215.73 points, and in Paris the CAC 40 soared 1.54 percent to finish ...

Leonardo DiCaprio Kanye West Welcome You to Scorsese’s “Wolf of Wall Street”

Mon, 17 Jun 2013 14:27:54 -0400

In the first trailer of Martin Scorsese's new film: yachts, goldfish-swallowing, money taped to body parts, Kanye West's new song, ...

Canada not concerned for own deal as EU U.S. trade talks take centre stage

Mon, 17 Jun 2013 14:27:53 -0400

ENNISKILLEN -- The start of free-trade talks between the European Union and the United States are no cause for great concern to Canadian negotiators trying to reach their own deal with the EU, a senior official says. "I wouldn't say there's a concern there," said the official, who spoke on condition of anonymity because he wasn't authorized to discuss the matter ...

U.S. oil no threat to oil sands but smaller companies vulnerable SP

Mon, 17 Jun 2013 14:27:52 -0400

Canadian oil sands are not threatened by surging U.S. tight oil production, but some smaller companies may struggle to finance projects, according to Standard & Poor's ratings agency. The oil sands' long-term potential and attractive returns from tight oil development projects are sufficiently enticing for producers, S&P said in a report published Monday. The Canadian ...

Wall Street rebounds from last week on Fed expectations

Mon, 17 Jun 2013 14:25:38 -0400

Federal Reserve will reaffirm its policies of supporting the economic recovery later this week. Technology and energy shares led gains on the S&P 500, pointing to bets on a stronger economy. The S&P tech sector index was up 1.6 percent. Data showing U.S. homebuilder sentiment jumped in June to the highest in seven years since the start of the housing crisis helped support stocks. The PHLX ...

Is Canada’s hot bond market about to cool

Mon, 17 Jun 2013 13:53:13 -0400

With real estate investment trusts in rough shape and preferred share prices slumping, the big fear on Bay Street is that Canada's bond issuance starts to slow.As U.S. Treasury yields bounce around, income-seeking investors aren't quite sure of what to make of the choppy market, and that's ...

District 600 apartments underway

Mon, 17 Jun 2013 13:51:53 -0400

There are so many new apartment buildings in the works for the North Loop, it makes one's head spin. In the case of the proposed 78-unit District 600 project, one of the distinctive features is its proximity to beer. Yes, you heard that correctly. The $12 million development is slated for a lot adjacent to the Fulton Brewery, as well ...

US ambassador to Canada leaving before Keystone resolved but says problems taken in stride

Mon, 17 Jun 2013 13:51:52 -0400

TORONTO -- Outgoing U.S. ambassador to Canada David Jacobson says the Obama administration knows how important the controversial Keystone XL pipeline is to Canada but he won't speculate about how much it would damage the relationship should it not be approved. David Jacobson, who leaves July 4 after a four-year stint, said in an interview with The Associated Press on Monday that he's ...

Oil rises above $98 a barrel on escalating war in Syria traders await US Fed meeting

Mon, 17 Jun 2013 13:51:51 -0400

NEW YORK -- The price of oil climbed to a high for the year Monday amid concerns over an escalation in the civil war in Syria. Benchmark oil for July delivery was up 37 cents to $98.22 a barrel on the New York Mercantile Exchange in afternoon trading. Earlier, crude rose to $98.74, the highest level since mid-September. Concern that the conflict in Syria could spread and disrupt oil supplies ...

FBI to meet Tokyo flight in Newark after passenger claimed he had poisoned everybody aboard

Mon, 17 Jun 2013 13:51:50 -0400

NEWARK, N.J. - FBI agents are going to meet an incoming flight at a New Jersey airport after reports that a passenger claimed he'd poisoned everybody on board. United Airlines Flight 116 from Tokyo is scheduled to land at 2 p.m. Eastern on Monday at Newark Liberty Airport, outside New York City. An FBI spokesman says the passenger stood up and made the statement several hours ago and that ...

Earthgrown Market closes reopening planned

Mon, 17 Jun 2013 13:51:23 -0400

Earthgrown Market in Oceanside has closed its doors, but owners say it's a temporary setback. They hope to reopen the natural foods market in a new, smaller location soon. CREDIT: ...

Currencies Dollar gains on yen after string of losses

Mon, 17 Jun 2013 13:47:14 -0400

NEW YORK (MarketWatch) -- The U.S. dollar gained against the Japanese yen on Monday, coming off a string of losses ahead of the Federal Reserve's policy decision later this ...

Sexualised imagery on the high street – share your pictures

Mon, 17 Jun 2013 13:44:25 -0400

Are you offended by sexualised imagery on magazine stands and t-shirts? Help us report the story by sharing photos of any problematic imagery you've seen in ...

Heathrow may seek public funding for expansion plan

Mon, 17 Jun 2013 13:44:24 -0400

Heathrow has admitted that the taxpayer may have to contribute funds for expansion plans that would mean at least one extra runway at Britain's largest airport and hundreds more flights ...

US Falls Behind in Creating Rich Entrepreneurs

Mon, 17 Jun 2013 13:42:03 -0400

It's the two kids who start a computer company in their garage or dorm room. Or the former standup comic who creates form-shaping undergarments, or the South African immigrant who creates a new electric car and private space program. But despite the high-profile examples, America may actually be falling behind the rest of the world when it comes to creating entrepreneurial wealth. A new ...

China Takes Supercompter Crown from US

Mon, 17 Jun 2013 13:42:03 -0400

China has built the world's fastest supercomputer, almost twice as fast as the previous U.S. holder and underlining the country's rise as a science and technology powerhouse. ...

Obamacare Plans to Vary by State

Mon, 17 Jun 2013 13:42:02 -0400

When a typical 40-year-old uninsured woman in Maine goes to the new state exchange to buy health insurance this fall, she may have just two companies to choose from: the one that already sells most individual policies in the state, and a complete unknown--a nonprofit start-up. Her counterpart in California, however, will have a much wider variety of choices: 13 insurers are likely to offer plans, ...

Dont Bail on Utility Stocks Pro

Mon, 17 Jun 2013 13:37:17 -0400

The FMHR traders provide their read on the yield on 10-year Treasurys. And Fidelity's Doug Simmons provides his top stock picks in the utility ...

Paulsons Housing Plays Paying Off

Mon, 17 Jun 2013 13:37:10 -0400

The FMHR crew has the trade on oil's surge. And CNBC's Kate Kelly reveals how John Paulson's big bets against housing are now producing big returns for the hedge fund ...

Boeing CEO Highly confident in new 787 batteries

Mon, 17 Jun 2013 13:37:06 -0400

CNBC's Phil LeBeau, and James McNerney, Boeing chairman, president & CEO, discuss the fierce competition between Boeing and Airbus for orders at the Paris Air Show, as industry leaders make billion dollar bets on the next best aircraft. The Federal Aviation Administration did "everything right" in dealing with battery issues that ...

Did Market Call Shenanigans on Taper

Mon, 17 Jun 2013 13:37:04 -0400

Looking at which stocks have hit year-to-date highs shows the market is not expecting a tapering of quantitative easing, Josh Brown of Fusion Analytics ...

New Saipem profit warning rattles investors

Mon, 17 Jun 2013 13:30:05 -0400

Just weeks after a strategic review claiming better times lay ahead, Saipem said after the market closed on Friday it expected a net loss of 300 million to 350 million euros ($467 million) this year because of problems on contracts in Algeria, Mexico and ...

Exclusive ICE to win EU approval for $8.2 billion NYSE bid - sources

Mon, 17 Jun 2013 13:29:58 -0400

NEW YORK - Stocks rose 1 percent on Monday as investors speculated the Federal Reserve will reaffirm its commitment to supporting the economic recovery when it meets this week. ...

A ton of serious applicants responded to Lululemon’s joke job posting for a CEO

Mon, 17 Jun 2013 13:26:12 -0400

The company told CNN Money that the job description, which it posted on its website last week, was a joke. Lululemon’s stunt was intended to show it has';always been a fun and irreverent brand…not afraid to spark a conversation in our communities,'; a spokeswoman told ...

‘Short-term’ capitalism hurting companies Al Gore warns

Mon, 17 Jun 2013 13:26:10 -0400

Former U.S. Vice President Al Gore said capitalism is coming under increased scrutiny and needs to change as short-term thinking has driven a wedge between investing and the creation of value for ...

Quebec won’t introduce back-to-work legislation in construction labour conflict

Mon, 17 Jun 2013 13:26:09 -0400

MONTREAL - The Quebec government said it won’t intervene in the labour conflict that has shut down construction sites across the province, setting the stage for a potentially damaging work stoppage that could slow Canada’s second largest provincial economy if it drags on. Unlike Prime Minister Stephen Harper’s Conservative government, which hasn’t hesitated to introduce ...

Apple Microsoft Facebook release new details on national security requests

Mon, 17 Jun 2013 13:25:21 -0400

Apple on Sunday released new details on U.S. government data requests. The tech giant joins Facebook, Google and Microsoft in asking for permission to release more information on national security requests, in an attempt to provide more transparency following allegations that the National Security Agency (NSA) had direct access to its ...

Jay-Z teams with Samsung to release new album

Mon, 17 Jun 2013 13:25:18 -0400

Jay-Z is teaming up with Samsung to release his new album, unveiling a three-minute commercial during the NBA Finals on Sunday and announcing a deal that will give the music to 1 million users of Galaxy mobile phones. The new album, called "Magna Carta Holy Grail," will be free for the first 1 million android phone owners who download an app for the album. Those who do so will get ...

Joan Jett Sues Teen Punk Retailer

Mon, 17 Jun 2013 13:24:20 -0400

Rocker Joan Jett's label, Blackheart Records Group, is suing teen retailer Hot Topic for trademark infringement and false advertising over the chain's Blackheart Clothing Co. brand. Joan Jett and performer and music writer Kenneth Laguna formed the band, "Joan Jett and the Blackhearts." The name was coined by the two for its symbol and its meaning, which is ...

Stocks rise on Wall Street ahead of Federal Reserves policy meeting

Mon, 17 Jun 2013 12:49:20 -0400

NEW YORK -- Stocks are rising in midday trading as traders expect the Federal Reserve to continue its stimulus of the U.S. economy when it meets this week. The Dow Jones industrial average was up 160 points, or 1.1 percent, at 15,230 just before noon Eastern Daylight time Monday. The Standard & Poor's 500 index climbed 16 points, or 1 percent, to 1,643. The Nasdaq composite rose 40 ...

Kenya police kill 2 labeled as terror suspects bomb-making materials guns recovered

Mon, 17 Jun 2013 12:49:18 -0400

MOMBASA, Kenya -- An official in Kenya says that police shot and killed two men labeled by police as terror suspects. The provincial police chief on Kenya's coast, Aggrey Adoli, said Monday that one of the suspects, Kassim Otieno Amollo, was a bomb expert with the Somali militant group al-Shabab. Adoli said that police had information that Amollo and his accomplice crossed into Kenya from ...