Latest Breaking Business News
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Barroro voices concern over estimated one trillion euro tax evasion
BRUSSELS - Voicing concern about tax evasion that is estimated at one trillion euros, European Commission President Jose-Manuel Barroso said Tuesday that EU leaders will meet at a one-day summit on Wednesday to negotiate solution. The European Union can't afford to let tax evasion go on the way it is. Such large amounts of money, currently sitting in tax havens, would be greatly beneficial ...
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German central bank sees signals of economic pick up in Q2
FRANKFURT - Germany's central bank Deutsche Bundesbank expects the country's economy to improve "markedly" in the second quarter relying on signals of pick up in industrial orders and likelihood of weather related downturn in construction sector no longer impacting investment sentiments a development that could boost the wider eurozone as it struggles to get out of recession. "Overall ...
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HNL cancer drug trial discontinued by Pfizer
NEW YORK - Pharma major Pfizer has discontinued the development of cancer candidate inotuzumab ozogamicin, which is part of a class of therapies called antibody-drug conjugates (ADCs), in the haematological cancer non-Hodgkin lymphoma after it failed to show benefit in overall survival during phase III trials. Pfizer has notified the study investigators and appropriate regulatory authorities ...
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Merger pact by GrubHub and Seamless to stave off rivals
WASHINGTON - GrubHub Inc. and Seamless North America LLC, two of the biggest online services for food-delivery in the U.S., have entered into a definitive agreement to combine their companies to take on rivals in the growing market for online meal orders. The merger will create a combined company well positioned to drive more orders to restaurants, deliver a better experience for hungry ...
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Mortgage lending in UK rises highest in four years
LONDON - The UK housing market seems to be picking up with gross mortgage lending up 4.3 per cent in April over previous month to 12.1 billion pounds, the highest in over four years, according to the Council of Mortgage Lenders (CML). The mortgage lending was 21% higher than April 2012, but this data is skewed by the end of the stamp duty concession on 24 March, 2012. Under the stamp duty ...
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Construction begins on new island off Jumeirah Beach in Dubai
Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...
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Microsoft launches all-in-one home entertainment system Xbox One
Microsoft has unveiled its latest video gaming console 'Xbox One' which is believed to transform games, TV and entertainment for the 21st century living room. The latest console reportedly promises a vision of the future. According to a report by the Mirror, 'Xbox One' will allow users to turn on the device with words like "Xbox On", and "snap" will allow users to watch two things at ...
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Microsoft unveils new all-in-one Xbox console
Microsoft unveiled a new Xbox console Tuesday that represents a major upgrade on the US-market-leading Xbox 360 model. The president of the IT giant's Interactive Entertainment Business, Don Mattrick, revealed the hi-tech Xbox One entertainment and gaming console during an event at Microsoft's Redmond, Washington, campus. The Xbox One was presented as an all-in-one system for gaming, watching ...
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Microsoft Unveils New Xbox One Game Console
REDMOND, WASHINGTON Microsoft Corp gave the world the first look at its new game console on Tuesday, hoping the Xbox One will attract existing video game fans while also becoming a hub for living room entertainment. The third-generation Microsoft console, coming eight years after the Xbox 360, was unveiled by games unit chief Don Mattrick at an event at the software company's campus ...
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US home sales rise slightly to 4.97 million in April highest in 3 12 years inventories rise
WASHINGTON - Sales of previously occupied U.S. homes ticked up last month to the highest level in three and a half years, helped by a jump in the number of houses for sale. The National Association of Realtors said Wednesday that sales rose to a seasonally adjusted annual rate of 4.97 million, up from 4.94 million in March. Home sales have risen 9.7 percent in the past 12 months, evidence that ...
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Financial Stocks J.P. Morgan leads financial stocks higher
Gupta was convicted of fraud and passing on insider secrets about Goldman Sachs to now felon Raj Rajaratnam. Rajaratnam is serving 11 years in prison for gaining insider tips for financial ...
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Futures Movers Oil falls ahead of U.S. government supply data
SAN FRANCISCO (MarketWatch) -- Crude-oil futures fell Wednesday as traders braced for a U.S. government update on petroleum inventories following a trade group report that showed an unexpected rise in weekly crude ...
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Tesco closes Shanghai superstore owner refused to renew lease
A 10-year-old Tesco store in Shanghai will be closed in the end of May, the UK retailer Tesco Group announced Wednesday, shortly after rival Wal-Mart Stores Inc shut down three superstores in the Chinese mainland in April. The property owner has no intents of renewing the lease contract, so the firm decided to close the supermarket on May 31, an PR representative with Tesco China, who wished to ...
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Wall Street opens higher ahead of Bernanke
New York - US stocks edged higher at the open on Wednesday, ahead of highly anticipated testimony in Congress by Federal Reserve Chairman Ben Bernanke on the economy and monetary ...
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Microsoft Stops Predicting AV Samples to Focus on Ecosystem
Cloud Security Readiness Tool Results Show Overwhelming Lack of Maturity Since its launch in October 2012, 5,700 people have used the Microsoft Cloud Security Readiness Tool (CSRT). The tool asks 27 questions regarding the current state of an organisation's security posture and cloud readiness. The results have been anonymised and analysed, and the overarching conclusion is that most ...
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Forbes Earnings Preview salesforce.com
reports its first quarter earnings on Thursday, May 23, 2013. Analysts are projecting a loss of one cent per share, matching that number from a year ago. The consensus estimate has decreased from 0 cents over the past three months. For the fiscal year, analysts are expecting earnings of 0 cents per share. Revenue is projected to be 27.6% above the year-earlier total of $695.5 million at $887.1 ...
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Forbes Earnings Preview Cato
is expected to report poor first quarter earnings on Thursday, May 23, 2013 with analysts expecting a 5.5% drop in earnings from a year ago. The consensus estimate is $1.03 per share, down from earnings of $1.09 per share a year ago. Analysts are expecting earnings of $1.78 per share for the fiscal year. Analysts project revenue to fall 0.2% year-over-year to $274.7 million for the quarter, ...
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Forbes Earnings Preview Dollar Tree
when the company reports its first quarter results on Thursday, May 23, 2013. The consensus estimate is calling for profit of 57 cents a share, reflecting a rise from 50 cents per share a year ago. The consensus estimate has decreased from 58 cents over the past three months. For the fiscal year, analysts are expecting earnings of $2.80 per share. Revenue is projected to be $1.87 billion for ...
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Forbes Earnings Preview Ralph Lauren
when the company reports its fourth quarter results on Thursday, May 23, 2013. The consensus estimate is calling for profit of $1.30 a share, reflecting a rise from 99 cents per share a year ago. The consensus estimate has moved down from $1.32 over the past three months. Analysts are projecting earnings of $8.01 per share for the fiscal year. Revenue is projected to be $1.7 billion for the ...
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Central Bank survey says Irish house prices will fall in 2013
The Central Bank said today that a new quarterly survey for the Irish houses/ residential property market shows a majority of those polled expect Irish property prices to fall in ...
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Forbes Earnings Preview Quality Systems
reports its fourth quarter earnings on Thursday, May 23, 2013. Analysts are expecting Quality Systems to report earnings of 28 cents per share, up 7.7% from a year ago when it reported earnings of 26 cents per share. The consensus estimate has decreased from 29 cents over the past three months. For the fiscal year, analysts are expecting earnings of $1.07 per share. Revenue is projected to be ...
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Forbes Earnings Preview Ross Stores
first quarter earnings announcement slated for Thursday, May 23, 2013, expectations have risen for the upcoming results. The consensus analyst estimate has gone from $1.05 per share to the current projection of earnings of $1.07 per share. In the year-ago quarter, Ross reported earnings of 93 cents per share, meaning current estimates reflect a 15.1% increase. The consensus estimate has gone ...
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Forbes Earnings Preview Gap
first quarter earnings announcement slated for Thursday, May 23, 2013, expectations have risen for the upcoming results. The consensus analyst estimate has gone from 57 cents per share to the current projection of earnings of 69 cents per ...
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Forbes Earnings Preview Advance Auto Parts
when the company reports its first quarter results on Thursday, May 23, 2013. Analysts are expecting earnings per share of $1.61 after the company booked a profit of $1.79 a share a year earlier. Over the past three months, the consensus estimate has fallen from $1.74. For the fiscal year, analysts are projecting earnings of $5.52 per share. Revenue is expected to be $2.01 billion for the ...
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Forbes Earnings Preview Hormel Foods
reports its second quarter earnings on Thursday, May 23, 2013. The consensus estimate is 49 cents per share, up 2.1% from a year ago when Hormel reported earnings of 48 cents per share. The consensus estimate has risen from 48 cents over the past three months. For the fiscal year, analysts are expecting earnings of $1.99 per share. Revenue is projected to be 8.8% above the year-earlier total ...
Spain Feature
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Spain drags its feet on cloud computing
Cloud computing, a new computing model seen by many as a major advancement in information technology, has been catching on in many developed parts of the world due to the significant benefits the new system offers, but in Spain, where experts say it may be most useful, it has failed to find a home.
Spain is traditionally known as a country that does not like to take risks and likes to maintain the status quo, for this reason other new technologies such as 3-D televisions and the like have not caught on either. But, whereas 3-D TV is a service that is marketed as enhancing one’s viewing pleasure and therefore costs more, cloud computing is a new service that offers real-world savings financially. Read more
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