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Business News Headlines - News
Wed, 23 Jul 2014 22:12:41 -0400

Pedestrians standing in front of brokerage are reflected in a polished stone surface, in TokyoBy Wayne Cole SYDNEY (Reuters) - Asian stock markets edged broadly higher on Thursday and the Australian dollar jumped after a surprisingly strong reading on Chinese manufacturing bolstered hopes for recovery in the world's second-biggest economy. Japan's Nikkei added 0.2 percent while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 percent. "Emerging markets continue to be main benefactor from the mix of low volatility, improving global growth and supportive central banks," said analysts at Barclays in a note.


Thu, 24 Jul 2014 01:05:52 -0400

Carey, deputy chairman, president, and COO of News Corporation, participates in a panel session at The Cable Show in BostonBy Ronald Grover , Jennifer Saba and Liana B. Baker LOS ANGELES/NEW YORK (Reuters) - Chase Carey, Twenty-First Century Fox's president and chief operating officer, may be feeling pressure to stay in his job for several more years both from his boss, Rupert Murdoch, and from the company Murdoch is trying to buy, Time Warner Inc. As Murdoch mulls his next step following Time Warner’s rejection of his $80 billion offer, some Time Warner investors say they are concerned about who might succeed the 83-year-old chairman and chief executive. In particular, they're not sure whether Murdoch's sons, James, 41, and Lachlan, 42, are ready to manage the integration challenge. The 60-year-old New Yorker, who's been working for Murdoch since 1988 and earned a reputation for a no-nonsense leadership style, signed a two-year contract with Fox in June that gives him the option to opt out after 18 months.


Wed, 23 Jul 2014 23:30:22 -0400

A security personnel stands guard in front of an OSI's food processing plants in LangfangChina's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan. Shanghai police detained five people on Wednesday, including the head and the quality chief of Shanghai Husi Food, a Chinese-based supplier to foreign fast-food brands including KFC, McDonald's Corp and coffee chain Starbucks Corp over allegations it supplied out-of-date meat. Shanghai Husi Food is owned by Illinois-based OSI Group.


Wed, 23 Jul 2014 19:56:01 -0400

Facebook CEO Mark Zuckerberg speaks during a news conference at Facebook headquarters in Palo AltoBy Alexei Oreskovic SAN FRANCISCO (Reuters) - Facebook Inc's fast-growing mobile advertising business helped drive a 61 percent increase in revenue during the second quarter, beating Wall Street's financial targets and sending shares to a record-high in after-hours trading on Wednesday. Facebook now counts 1.5 million advertising customers and the company's ad business saw strong growth across all of its geographic regions, Chief Operating Officer Sheryl Sandberg told Reuters in an interview on Wednesday. Investors bid up shares of Facebook roughly 5 percent to $75.13 in after-hours trading on Wednesday, giving the Internet company a roughly $190 billion valuation, putting it on par with IBM Corp. "It might be more expensive from a market cap perspective, but I don’t think anyone was expecting this level of profitability," JMP Securities analyst Ronald Josey said. Facebook's operating margin expanded to 48 percent of revenue in the second quarter, up from 31 percent in the year-ago period.


Thu, 24 Jul 2014 00:23:06 -0400

A worker cut steel bars at a steel plant in GanyuChina's factory activity expanded at its fastest pace in 18 months in July as new orders surged, a preliminary HSBC survey showed on Thursday, the latest indication that the economy is picking up as government stimulus measures kick in. "Economic activity continues to improve in July, suggesting that the cumulative impact of mini-stimulus measures introduced earlier is still filtering through," said Qu Hongbin, chief economist for China at HSBC. "We expect policy makers to maintain their accommodative stance over the next few months to consolidate the recovery." Mainland China stocks jumped after the PMI report while shares in the rest of Asia edged higher. The Australian dollar hit a three-week high on prospects of stronger exports to China.


Thu, 24 Jul 2014 01:09:12 -0400

Sun rises to the east of the U.S. Federal Reserve building in WashingtonBy Jonathan Spicer and Ann Saphir NEW YORK/SAN FRANCISCO (Reuters) - The U.S. Federal Reserve's policy statement, unchanged for the last four months, will probably stay that way until at least September for one main reason: slow wage growth. Yet Fed officials, who gather for a policy meeting July 29-30, are in no rush to talk about hiking interest rates because wage gains remain stubbornly low, raising questions about just how close the United States is to full employment. While some of the more hawkish officials are anxious to tighten monetary policy and a number of private economists are warning the U.S. central bank risks falling behind on the inflation curve, Fed Chair Janet Yellen has signaled she will resist their pressure until the wage picture is clearer. Data on Tuesday showed only a modest rise in core consumer prices and the Fed's preferred inflation gauge is still below target, giving Yellen breathing room to continue her very cautious steps toward a rate increase, probably next year.


Thu, 24 Jul 2014 01:33:24 -0400

Logo of Hyundai Motor is seen on the steering wheel of a car at a Hyundai dealership in SeoulSouth Korea's Hyundai Motor said its net profit fell by the most in five quarters, as the local currency's sharp gain and higher U.S. discounts to entice customers overshadowed solid April-June vehicle sales in China and at home. Hyundai Motor, the world's fifth-biggest automaker combined with affiliate Kia Motors, on Thursday reported a 2.24 trillion Korean won ($2.18 billion) net profit for the second quarter, down nearly 7 percent from a year earlier. The fall is the biggest since Hyundai Motor's net profit slumped 16 percent in the first quarter of last year, squeezed by massive U.S. recalls and labor disputes in South Korea.


Thu, 24 Jul 2014 01:13:15 -0400

BNP Paribas sign is pictured on a building of the bank in GenevaBy Karen Freifeld and Edward Krudy NEW YORK (Reuters) - U.S. authorities' $8.9 billion settlement last month with French bank BNP Paribas for sanctions busting will pay for New York cops to get live computer feeds of street crime and for new carpets in the offices of prosecutors, among many other things. In some places – particularly New York state – that is leading to ugly wrangling over how to spend it. One is whether there should be clearer standards for how such money is used by a maze of state and federal authorities. "That's nonsense," said Matthew Anderson, a spokesman for New York banking regulator Benjamin Lawsky, whose office has been a major player in recent settlements.


Wed, 23 Jul 2014 20:13:18 -0400

JPMorgan Chairman and CEO Jamie Dimon speaks at the Aspen Institute's "Closing the Workforce Skills Gap" seminarA U.S. federal judge on Wednesday dismissed a shareholders' lawsuit claiming JPMorgan Chase & Co board members knew about Bernard Madoff's Ponzi scheme and ignored red flags signaling his massive fraud. The lawsuit filed in February alleged that Chief Executive Jamie Dimon and 12 other current and former executives and directors turned "a blind eye to Madoff's thievery." The claims were based partly on statements Madoff gave in a series of interviews - including conversations with plaintiffs lawyers while in federal prison in North Carolina - about his interactions with the bank. Madoff was an important client of the bank for two decades. Judge Paul Crotty ruled there were not enough specific facts to prove the board breached their duties to shareholders.


Wed, 23 Jul 2014 14:38:35 -0400

General Motors displays its 2014 GMC Sierra full-size pickup truck after unveiling it and the 2014 Chevrolet Silverado full-size pickup truck in Pontiac, Michigan in this file photoGeneral Motors Co on Wednesday announced six recalls covering 717,950 vehicles in the United States for varying reasons, although none were related to ignition switch issues. GM has recalled nearly 15 million vehicles worldwide this year for potentially lethal issues with ignition switches. Vehicles involved in the recalls announced Wednesday have been linked to two crashes and three injuries but no deaths, GM said. Most of GM's recalls this year have been for older models, but many of the recalls announced Wednesday are for current-model vehicles, including about 57,000 Chevrolet Impala sedans from the 2014 model year for the loss of power steering.


Thu, 24 Jul 2014 00:48:48 -0400

A departure flight board displays various canceled and delayed flights in Ben Gurion International airport a day after the U.S. Federal Aviation Administration imposed a 24-hour restriction on flights after a Hamas rocket landed Tuesday within a mile of the airport, in Tel Aviv, Israel, Wednesday, July 23, 2014. U.S. Secretary of State John Kerry flew into Israel's main airport Wednesday despite a Federal Aviation Administration ban in an apparent sign of his determination to achieve a cease-fire agreement in the warring Gaza Strip despite little evidence of progress in ongoing negotiations. (AP Photo/Dan Balilty)BERLIN (AP) — Air France and Germany's two largest airlines on Wednesday canceled more flights to Tel Aviv because of safety concerns amid the fighting between Israel and Hamas.


Wed, 23 Jul 2014 17:26:06 -0400

In this Tuesday, July 8, 2014 photo, Mark Ahlemann, center, passes out papers to participants during a during a breakfast networking session hosted by Gray Hair Management at a restaurant in Elk Grove Village, Ill. By continuing to draw a paycheck, older workers pay taxes and that ought to reduce the budgetary pressures on younger generations, Gary Burtless, a senior economics fellow at the Brookings Institution, concluded in a 2013 paper. But in a sluggish recovery where job gains have not kept pace with population growth, the persistence of older workers has actually hurt younger generations (AP Photo/Matt Marton)WASHINGTON (AP) — Out of a seemingly hollow recovery from the Great Recession, a more durable if still slow-growing U.S. economy has emerged.


Thu, 24 Jul 2014 01:57:58 -0400

A man eats a burger at a McDonald's restaurant in Beijing Tuesday, July 22, 2014. China's food safety agency on Tuesday announced a nationwide inspection of processing factories and meat suppliers used by a company accused of selling expired beef and chicken to McDonald's and KFC. (AP Photo/Ng Han Guan)BEIJING (AP) — The chairman of an American meat supplier apologized Thursday for a Chinese subsidiary that is accused of selling expired beef and chicken to restaurants including McDonald's and KFC.


Thu, 24 Jul 2014 01:28:24 -0400

In this Wednesday, July 23, 2014 photo, U.N. Development Program Administrator Helen Clark of New Zealand gestures while speaking during an interview in Tokyo. Improvements in life spans, education and incomes are slowing due to natural disasters, misguided government policies and worsening inequality in a world where the 85 richest people have as much wealth as the 3.5 billion poorest people, the United Nations said Thursday, July 24, 2014 in its annual human development report. “Where people do address these things, development can come along very, very nicely. Where they haven’t addressed a lot of vulnerabilities and development deficits, as in Syria, it all comes spectacularly unstuck,” Clark said. (AP Photo/Shizuo Kambayashi)TOKYO (AP) — Improvements in life spans, education and incomes are slowing due to natural disasters, misguided government policies and worsening inequality in a world where the 85 richest people have as much wealth as the 3.5 billion poorest people, the United Nations said Thursday in its annual human development report.


Thu, 24 Jul 2014 01:30:43 -0400

A newly-stamped gold coin of President John F. Kennedy is examined at the U.S. Mint at West Point on Tuesday, July 22, 2014, in West Point, N.Y. Kennedy is getting a new look on the new coin that is being made by the mint to mark the 50 years since the slain president debuted on a half-dollar. (AP Photo)WEST POINT, N.Y. (AP) — President John F. Kennedy is getting his old look back on new collectors' coins.


Wed, 23 Jul 2014 19:30:40 -0400

In this July 20, 2014 photo released by China's Xinhua News Agency, an electronic screen shows the safety record at Husi Food Co. in Shanghai, China, a meat supplier for McDonald's and KFC owned by OSI Group, a privately-held company that’s based in Aurora, Ill. OSI was thrust into the spotlight this weekend when a Chinese TV station reported the Husi plant repackaged old beef and chicken and slapped new expiration dates on them. (AP Photo/Xinhua, Pei Xin) NO SALESNEW YORK (AP) — It isn't a household name, but the company at the center of a food scandal in China helps make some of the world's most popular foods, including the Big Macs and Quarter Pounders served at McDonald's locations.


Wed, 23 Jul 2014 18:59:47 -0400

Bryan Caputo, left, and Daniel Petryszyn sit during arraignment proceedings in New York state Supreme Court, Wednesday, July 23, 2014. They are two of six people who were indicted Wednesday in an international ring that took over more than 1,600 StubHub users' accounts and fraudulently bought tickets to such prime events as Jay-Z and Elton John concerts and Broadway shows like "The Book of Mormon," the Manhattan district attorney said Wednesday. (AP Photo)NEW YORK (AP) — Some of the hottest tickets in town — to Broadway hits, Jay-Z and Justin Timberlake concerts, a New York Yankees-Boston Red Sox game — were snapped up by an international ring of cyber thieves who commandeered more than 1,000 StubHub users' accounts to make big money by fraudulently buying tickets and reselling them, prosecutors said Wednesday.


Wed, 23 Jul 2014 19:13:38 -0400

Veterans Affairs Secretary nominee Robert McDonald of Ohio flanked by Sens. Sherrod Brown, D-Ohio, left, and Rob Portman, R-Ohio, right, listen during a Senate Veterans' Affairs Committee hearings to examine his nomination to be Secretary of Veterans Affairs on Capitol Hill in Washington, Tuesday, July 22, 2014. (AP Photo)WASHINGTON (AP) — The chairman of the Senate Veterans' Affairs Committee said Wednesday there is still time for Congress to approve a landmark bill to improve health care services for veterans, despite deep disagreement over how much the changes will cost and how they should be paid for.


Thu, 24 Jul 2014 00:44:13 -0400

A woman walks by sale signs at Seoul shopping district, South Korea, Thursday, July 24, 2014. South Korea's government unveiled stimulus plans Thursday after the shock of a deadly ferry sinking slowed economic growth to the lowest level in three quarters. (AP Photo/Lee Jin-man)SEOUL, South Korea (AP) — South Korea's government unveiled stimulus plans Thursday after the shock of a deadly ferry sinking slowed economic growth to the lowest level in three quarters.


Wed, 23 Jul 2014 16:12:30 -0400

FILE - This Nov. 6, 2013, file photo shows a BNSF Railway train hauling crude oil near Wolf Point, Mont. Thousands of older rail tank cars that carry crude oil would be phased out within two years under regulations proposed in response to a series of fiery train crashes over the past year. Transportation Secretary Anthony Foxx said the government's testing of crude oil from the Bakken region of North Dakota and Montana shows the oil is on the high end of a range of volatility compared with other crude oils, meaning it's more likely to ignite if spilled. (AP Photo/Matthew Brown, File)WASHINGTON (AP) — Responding to a series of fiery train crashes, the government proposed rules Wednesday that would phase out tens of thousands of older tank cars that carry increasing quantities of crude oil and other highly flammable liquids through America's towns and cities.


Thu, 17 Jul 2014 18:51:57 -0400

Grow Your Business by Protecting Your Life With GuardrailsIf you want a successful business, you almost always have to go through this intense startup period. When the business gains success and momentum, far too many business owners fail to recognize they can and should shift the intensity and begin to put up some simple guardrails.


Thu, 17 Jul 2014 17:57:57 -0400

SEC Targeting 10 Firms In High-Speed Trading Investigation(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

Should Your Business Become a B Corporation?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

Just Pick Up the F*#@ing PhoneLike most people, I send dozens of emails a day. Pretty much anything that I work on can be dealt with using email. But is that always the right choice?


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

SEO Questions Franchise Owners Need to AskAsking these questions doesn't always come to mind right away, but these are crucial if you own a franchise. Franchises are constantly growing and by nature have a lot of people working higher positions, so the managers working with you are constantly changing.


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

For Women in Computer Science, Tech Is a Golden OpportunityGoogle recently released report acknowledging the lack of diversity in their workforce kicked up a storm. The company says, most of its workforce is white (61%) and male (70%). Worse, a mere 17% of Google's tech workforce is women. By and large, this is not Google's fault.


Thu, 17 Jul 2014 13:13:26 -0400

Someone Left A Loaded Gun In A Walmart BathroomWalmart could be the next battleground in the fight over gun rights in retail chains after a loaded revolver was found in the bathroom of a South Carolina store. On the afternoon of Saturday, July 12, a man with a concealed carry permit left his gray Smith & Wesson revolver, loaded with five live .38 caliber rounds, atop the toilet paper dispenser in a stall of the rear men's bathroom of a York, South Carolina Walmart, according to a police report.


Thu, 17 Jul 2014 13:05:54 -0400

The Nature of WorkBut we can't blame our problems with work on work itself because "work" as an entity doesn't exist. It has no consciousness. Work is what we do and it is so much a part of what we are.


Thu, 17 Jul 2014 12:55:24 -0400

PassionIf you're thinking of starting a restaurant, you need to sit down and ask yourself: "Do I really have what it takes to succeed? Do I love food and making money enough to make these things my life?"


Thu, 17 Jul 2014 12:42:14 -0400
This week two new studies (one by The Economist and one by Quantum Workplace) highlight how rapidly young professionals' view of their careers have changed. While startups continue to be exciting and people desperately want to work for pre-IPO companies, research shows that most Millennials (under the age of 30) are starting to really mature in their career thinking. Here is some data: Young People are Getting more Serious: The days of young people smoking marijuana, hanging around on the street in cities like Berlin, or kids in the UK engaging in binge drinking are slowly coming to an
Thu, 17 Jul 2014 12:21:52 -0400

Subway Worker Claims She Was Forced To Work While VomitingA Subway worker in Freeport, Texas, claims she was forced to continue working her shift while suffering from a stomach bug, then was fired the same day. Elizabeth Taff, 24, says she was so sick she could barely stand up straight and vomited several times during her shift on July 11, but her manager refused to let her leave unless she found someone to cover her shift.


Thu, 17 Jul 2014 12:13:39 -0400

To All Corporations: This Is What People Mean When They Talk About FairnessAs people, we've become accustomed to asking questions publicly, digging deeper and going past the advertising noise that bombards our senses every single waking minute.


Thu, 17 Jul 2014 11:57:51 -0400

Google and the German AngstThe other day the German minister of justice, Heiko Maas, was asked in an interview how often he is using Google to crawl the Internet. His answer: "Everyday and in an exorbitant manner. Therefore, unfortunately, I am part of the problem."


Thu, 17 Jul 2014 11:04:51 -0400

Culture: Let It Shine in the Tough TimesThe concept of a curated identity is nothing new, but increased connectivity and consumer conscience has certainly paved the way for what is now a burgeoning market, that ultimately serves to give us more choice, control and flexibility when it comes to what we wear.


Thu, 17 Jul 2014 10:58:47 -0400

Culture: Let It Shine in the Tough TimesHave you ever laid awake at night thinking about that entrepreneur who has already forged the path that you are on? I often think of an entrepreneur who has already accomplished much of what I am setting out to do. He is a legend when it comes to real estate brands in New England. His name is Richard DeWolfe.


Thu, 17 Jul 2014 10:53:32 -0400

Culture: Let It Shine in the Tough TimesWhile we often can't anticipate such occurrences, we can plan for them and plan for the proactive communications and actions that need to happen to keep the organization on track.


Thu, 17 Jul 2014 10:29:51 -0400

Here Is The Salary At Which Money Won't Make You Any Happier In Each StateMoney can only buy happiness up to a point. But just how much you need to get to that threshold really depends on where you live, according to a new analysis by Doug Short, vice president of research at investment group Advisor Perspectives. Short's analysis found that if you live in a place like Hawaii, where the cost of living is relatively high, you need to make $122,175 per year before some extra cash doesn't really translate into more happiness. In Mississippi, by comparison, the threshold at which more money stops making you happier is a lot lower: $65,850 per


Thu, 17 Jul 2014 10:21:35 -0400

Dodd-Frank at FourOn July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act became law. As with human 4-year-olds, the party parents throw may be a little duller than on the first birthday, but the toddler now appreciates the present in the box more than the box itself. Let's look at what's in the box.


News provided by: Business News Headlines - Yahoo! NewsAsia shares supported by upbeat China factory surveyCarey pressured from both sides of Fox Time Warner deal to stay in jobChina probes 581 firms, restaurants as food safety scare spreadsFacebook beats Wall Street targets, stock hits record highChina July HSBC flash PMI at 18-month highAs U.S. strengthens, sluggish wages explain Fed's cautionHyundai Motor second-quarter profit slips as firmer won, U.S. discounts hurtBank settlements create windfall for U.S., and wrangling over how it is spentJudge dismisses suit claiming JPMorgan knew of Madoff fraudGM recalls 717,950 vehicles in U.S., not for ignition switchesEuropean carriers suspend more Tel Aviv flightsUS economy, though sluggish, may now be sturdierBoss of company in China meat scandal apologizesUN human development report faults inequalityJFK returns to old look in new collectors' coinsMeat supplier in China scandal has global reachNYC official: Thieves got into 1K StubHub accountsSanders pleads for VA reform bill as talks stallSouth Korea unveils stimulus after ferry sinkingStopping deadly oil train fires: New rules plannedGrow Your Business by Protecting Your Life With GuardrailsSEC Targeting 10 Firms In High-Speed Trading InvestigationShould Your Business Become a B Corporation?Just Pick Up the F*#@ing PhoneWomen in Business Q&A: Jess Lee, CEO and Co-Founder of PolyvoreSEO Questions Franchise Owners Need to AskStartups: Switzerland's New Graduate ProgramFor Women in Computer Science, Tech Is a Golden OpportunitySomeone Left A Loaded Gun In A Walmart BathroomThe Nature of WorkPassionYoung Professionals: Six Keys to Building Your CareerSubway Worker Claims She Was Forced To Work While VomitingTo All Corporations: This Is What People Mean When They Talk About FairnessGoogle and the German AngstFashion and the Market for Curated IdentitiesThe DeWolfe EffectCulture: Let It Shine in the Tough TimesHere Is The Salary At Which Money Won't Make You Any Happier In Each StateDodd-Frank at Four