By Shinichi Saoshiro TOKYO (Reuters) - Asian stocks shrugged off a drop in Wall Street and hovered near three-year highs on Monday, with China taking the lead after data showed a robust jump in profits earned by industrial firms in the world's second-largest economy. Funds from Middle Eastern and Asian investors were trickling in again as the Muslim fasting month ends, helping to shore up regional stocks, said Soichiro Monji, chief strategist at Daiwa SB Investments in Tokyo.
Sun, 27 Jul 2014 22:49:48 -0400
Sun, 27 Jul 2014 21:06:50 -0400
(Reuters) - JPMorgan Chase & Co executives have faced regulators' questions on whether private bank advisors guide clients to buy the firm's own financial products, according to a report in the Wall Street Journal. As a result of the questioning regarding potential conflicts of interest, the New York-based bank has sharpened its disclosures to clients, the newspaper said, citing sources. The Office of the Comptroller of the Currency, one of JP Morgan's regulators, has been in discussions with the bank regarding the potential conflicts of interest in recent months, according to the report. "Being transparent is part of our normal course of business and it's what drives our client communications," Darin Oduyoye, a spokesman for JP Morgan's asset-management unit, told Reuters on Sunday.
Sun, 27 Jul 2014 23:14:07 -0400
(Reuters) - Bain Capital's credit arm, Sankaty Advisors, is buying the debt portfolio of JPMorgan's principal investment group for more than $1 billion, the Financial Times reported. Sankaty won an auction for JPMorgan Chase & Co's Global Special Opportunities Group portfolio, which contains junior loans in North America and Europe as well as securities in Asia and Australia, the newspaper said. (http://on.ft.com/1AnRNHZ) The deal is set to be announced on Monday, FT said. ...
Sun, 27 Jul 2014 19:39:23 -0400
(Reuters) - The Permanent Court of Arbitration in The Hague will on Monday announce that Russia must pay $50 billion to former shareholders of the defunct oil company Yukos, Russian business daily Kommersant reported on its website, citing unnamed sources. The newspaper said Russia was expected to appeal against the ruling. A group of shareholders in Yukos had made a $100-billion claim against Moscow for expropriating the company that was controlled by Mikhail Khodorkovsky, once Russia's richest man.
Sun, 27 Jul 2014 11:42:10 -0400
Corporate America can learn a lot from a chicken burrito. As many companies struggle to boost prices without alienating consumers, they may want to study Mexican-food chain Chipotle, which has managed to do both. Companies including Chipotle Mexican Grill Inc , Apple Inc and PepsiCo have shown they're able to take advantage of quality, trendiness, and, in the case of Pepsi's snack foods, market dominance, to maintain high prices or even raise them faster than the inflation rate, now at about 2.1 percent in the U.S. Chipotle raised chicken-dish prices by 5 percent this year after leaving them untouched since 2011, and sales went up 29 percent last quarter. The Denver-based Mexican food specialist "has done a great job cultivating a brand that commands pricing power," especially among millennials, who are mainly people in their 20s, said Morningstar analyst R.J. Hottovy.
Sun, 27 Jul 2014 22:41:14 -0400
JD.com Inc, China's second-biggest e-commerce company by market share, will accept pre-orders for Microsoft Corp's Xbox One games console in China from July 28 to July 30, the firm said on Monday. The pre-orders will be taken via Tencent Holdings' mobile social networks Mobile QQ and WeChat, known as Weixin in China, JD.com said in a statement. Tencent holds a 17.6 percent stake in JD.com. The Xbox One will be the first gaming console to be released in mainland China since the government banned console sales in 2000, citing games' effects on mental health.
Sun, 27 Jul 2014 11:57:01 -0400
Argentina does not have a meeting scheduled for Monday with a court-appointed mediator in New York in its debt dispute with creditors but talks continue, a government source said on Sunday, as the country looks to avoid a possible debt default next Thursday. Argentina, Latin America's third-largest economy, has for years fought the "holdout" hedge funds which snapped up its junk bonds after its $100 billion default in 2002 and then refused the restructuring terms, suing for repayment in full. Argentina's delegation headed home to seek instruction from the government after it failed to reach a breakthrough on Friday with the U.S. court-appointed mediator Daniel Pollack, in talks that lasted just an hour. Last week, U.S. District Judge Thomas Griesa ordered Argentina and holdout creditors who have rejected its debt restructurings to meet continuously with Pollack to try to reach a deal and avoid the country's second default in 12 years.
Sun, 27 Jul 2014 05:04:45 -0400
By John O'Donnell FRANKFURT (Reuters) - With the prospect of stiffer sanctions against Russia rattling confidence in Europe, investors will be looking to the United States and China to underpin the global economy. Wednesday's U.S. gross domestic product (GDP) reading and jobs data on Friday will help markets to judge the strength of the economy's rebound and the likely speed of the Federal Reserve's return to more conventional monetary policy. The Fed meets on Tuesday and Wednesday. "The U.S.-China story is looking more encouraging," said James Knightley, an economist with ING.
Sun, 27 Jul 2014 09:21:04 -0400
The parent company of a scandal-hit Chinese food supplier said it is withdrawing all products made by the subsidiary. Shanghai Husi Food Co Ltd, owned by Illinois-based OSI Group LLC, is at the center of a major food safety scandal, which has spread from China to Hong Kong and Japan, over allegations it mixed fresh and expired meat. In a statement posted on its website late Saturday, OSI Group said it would "withdraw from the marketplace" all products made by Shanghai Husi, and that it was conducting an internal investigation into current and former senior management. It vowed to take "swift and decisive action" including legal measures against those responsible for the scandal, and said a new management team would be brought to China.
Sun, 27 Jul 2014 05:24:15 -0400
By Samuel Shen and Megha Rajagopalan SHANGHAI/BEIJING (Reuters) - Volkswagen AG's premium brand Audi said it would cut spare-part prices in China as global automakers rush to change their pricing strategies after Chinese anti-monopoly regulators began probing the auto industry. The National Development and Reform Commission (NDRC), China's state planner, is investigating the industry amid domestic media complaints that foreign carmakers, using a dominant market position, are overcharging Chinese customers on products and spare parts.
Sun, 27 Jul 2014 19:42:09 -0400
SALT LAKE CITY (AP) — Organizers of two of the biggest comic-book conventions in the country are clashing over their names.
Sun, 27 Jul 2014 19:12:06 -0400
NEW YORK (AP) — The U.S.-based company at the center of a food scandal in China says it is pulling all of the products produced by its Shanghai Husi unit from the marketplace.
Sun, 27 Jul 2014 14:48:16 -0400
CAMARILLO, Calif. (AP) — A national survey finds the average U.S. price of regular-grade gasoline has plummeted 9 cents a gallon over the past two weeks to $3.58.
Sat, 26 Jul 2014 00:48:18 -0400
BRUSSELS (AP) — The European Union on Friday extended its Ukraine-related sanctions to target top Russian intelligence officials and leaders of the pro-Russia revolt in eastern Ukraine, official documents showed.
Sat, 26 Jul 2014 14:40:46 -0400
NEW YORK (AP) — Nissan is recalling more than 226,000 additional vehicles over a defective air bag that has affected much of the global auto industry.
Sun, 27 Jul 2014 17:42:56 -0400
SANDUSKY, Ohio (AP) — An Ohio amusement park ride that swings riders as high as 125 feet has been closed indefinitely after a cable snapped, injuring two visitors.
Sat, 26 Jul 2014 11:04:10 -0400
Sun, 27 Jul 2014 03:06:10 -0400
Fri, 25 Jul 2014 18:01:57 -0400
The price of oil traded around $102 a barrel on Friday, nearly unchanged, as worries over supplies and geopolitical tensions eased.
Sat, 26 Jul 2014 20:31:43 -0400
Sun, 27 Jul 2014 08:20:25 -0400
As a business owner, mom of two, wife, speaker, and consultant, managing each day effectively can be a challenge. I am sure I don't have to tell you. You know. My mind, like yours, is often filled with to-do lists, schedules, and responsibilities. It's easy to feel overwhelmed sometimes, but my secret to mental serenity in the face of a harried...
Sat, 26 Jul 2014 20:06:39 -0400
It wasn't so many years ago that starting a new e-commerce business on the Internet was a complex custom development project, usually costing a million dollars or more. Now you can do it for free, or a few hundred dollars, with one of the many web building tools available, like Shopify or Weebly Store. A programmer can build a new smartphone...
Fri, 25 Jul 2014 20:10:18 -0400
This trend is changing the world, and I'm thrilled. At first, it tiptoes in quietly. On stilettos. Then suddenly and seemingly out of nowhere, comes its deafening blast.Women are rising. Never before have we so aggressively, efficiently, fearlessly and successfully pursued our goals. The future is now, and females are leading.She's surging...
Fri, 25 Jul 2014 16:19:18 -0400
For the past few years, we have argued that the economy needs to continue the process of deleveraging as consumer and government debt levels remain far too high from an historical perspective. While we agreed with the Fed's initial aggressive action to save us from financial catastrophe during the throes of the financial crisis, we also said...
Fri, 25 Jul 2014 14:52:16 -0400
Whatever industry your business is in, there probably is a standard operating procedure for that particular industry. You probably hear it frequently when the old timers say, "This is how we do business." or "This is just the way business is done." Nearly every industry has a typical way of conducting business, and some are changing faster than...
Fri, 25 Jul 2014 13:49:00 -0400
Vint Cerf and David Nordfors are the leaders of the i4j Innovation for Jobs Summit.Some say all jobs may be automated. Perhaps next thing consumption will be automated, too, and then we are really in trouble. Seriously, something does not make sense with this way of thinking.Instead, innovation may disrupt unemployment. With a new mindset that...
Fri, 25 Jul 2014 13:06:18 -0400
Being an entrepreneur is one of the greatest experiences we can have. It is also one of the hardest and most difficult to embrace. The absence of the once secure bi-weekly paycheck and the uncertainty of any decision in the name of the project constantly puts us on the edge.But venturing out on your own is rewarding. Every project, job,...
Fri, 25 Jul 2014 09:42:34 -0400
In just three short years Paddle8 an innovative marketplace infusing technology and art has held hundreds auctions with over $100MM in bidding activity and raising over $25MM for charities. They've quickly expanded their reach with members and bidders from hundreds of countries and they are also setting records with their most expensive work,...
Thu, 24 Jul 2014 21:10:46 -0400
Entrepreneurs are known for working long hours, so it's no wonder they have a hard time stepping away from their business long enough to take, much less enjoy, a summer vacation. This is especially true in America, which has developed a reputation as the "No Vacation Nation," as nearly 60 percent of people admit to feeling...
Thu, 24 Jul 2014 19:20:23 -0400
As a kid I loved westerns. In fact, I still do. My favorite show was Bonanza and Young Guns was one of my favorite movies. I've always had a kind of love affair with the idea of the West. The freedom, the open spaces, the rugged individualism, and no rules, always attracted me. The reality was surely different but the ideas and ideals were what...
Thu, 24 Jul 2014 16:00:21 -0400
Are you struggling to find new prospects for your business? Have your lead generation techniques started to fizzle out just a bit? Finding new prospects can take up a lot of your time and energy, which are limited resources. You could work harder for your lead generation needs, or you could work smarter. These six ideas will help you solve your...
Thu, 24 Jul 2014 13:22:58 -0400
Millions of LinkedIn users are sabotaging their own careers and job search by making an easy to fix mistake -- misspelling words in their job titles and LinkedIn Professional Headlines.We all know how deadly misspellings are in resumes. Somehow, many of us have not translated that understanding to our LinkedIn Profiles. As a result, we make a...
Thu, 17 Jul 2014 18:51:57 -0400
Thu, 17 Jul 2014 17:57:57 -0400
(Refiles to correct spelling of Allston in fourth paragraph) By John McCrank NEW YORK, July 17 (Reuters) - The U.S. Securities and Exchange Commission has been seeking information on 10 registered broker dealers as part of an ongoing investigation into high-frequency trading strategies, according to an internal SEC document reviewed by Reuters. The regulator told its staff in late March that it was interested in seeing any tips, complaints, or referrals that they receive concerning the brokers and high frequency trading. ...
Thu, 17 Jul 2014 15:16:22 -0400
A "Benefit Corporation" (B Corp) is a company that engages in socially beneficial practices and considers how their business decisions will impact their employees, suppliers, community, consumers and the environment. I believe a company doesn't have to be exclusively a nonprofit or a for-profit and a B Corp is the perfect hybrid of the two--a company structured to make a profit while also providing social benefits.
Thu, 17 Jul 2014 15:05:45 -0400
Thu, 17 Jul 2014 14:59:42 -0400
Jess Lee is Polyvore's CEO. Prior to co-founding Polyvore, Jess was a product manager at Google, where she worked on Google Maps and launched features like My Maps and draggable driving directions. After four years at Google, Jess became hopelessly addicted to making Polyvore sets and decided the only cure was to join the Polyvore team to help build the company. Jess has a degree in computer science from Stanford University. How has your life experience made you the leader you are today? When I was growing up, my mom ran her own small business out of our apartment. Because
Thu, 17 Jul 2014 14:54:38 -0400
Thu, 17 Jul 2014 14:17:46 -0400
By Eva Perrett, Masters Student at Graduate Institute in Geneva Swiss students have dispersed the summer holidays. Among those graduating and entering the job market, a new trend is emerging. More and more young people are founding startups. Idyllically situated with views of Zurich, the Villa Rigi, a former manor house, has bright rooms and a garden that now serve a new purpose: as a headquarters for Swiss startups. Five startups are based here, among them ElectricFeel, a technology spin-off from the university ETH Zürich, with a focus on urban mobility. ...
Thu, 17 Jul 2014 13:13:35 -0400