- Microsoft says government officials make sudden visits to China offices
- Mon, 28 Jul 2014 07:12:15 -0400 -
Chinese government officials have made sudden visits to Microsoft Corp offices in China, a spokeswoman for the company said on Monday, but declined to give any reason for the inspections. China's State Administration for Industry & Commerce, which Chinese media reported had made the visits to Microsoft offices in Beijing, Shanghai, Guangzhou and Chengdu, declined to give comment outside of working hours. Microsoft has been a focus of anti-U.S. technology sentiment in China since U.S. National Security Agency (NSA) contractor Edward Snowden revealed widespread spying programs, including PRISM, which used U.S. company's technology for cyber espionage. In an e-mailed statement, the Microsoft spokeswoman said: "We aim to build products that deliver the features, security and reliability customers expect and we're happy to answer the government's questions," but declined to give any further information.
- U.S. services sector activity accelerates in July: Markit
- Mon, 28 Jul 2014 09:53:30 -0400 -
Financial data firm Markit said its preliminary services Purchasing Managers Index was 61.0 in July, unchanged from June and above expectations for a reading of 59.8. A reading above 50 signals expansion in economic activity, and June's reading was the highest final reading since the survey began in October 2009. The services sector continued to add employees, though at a slower pace. "Nonetheless, service sector companies continue to perform strongly against post-recession trends, and overall the latest manufacturing and services PMI surveys suggest that the US economy has enjoyed a strong start to the second half of 2014." Markit's final composite PMI, a weighted average of its manufacturing and services indexes, dipped to 60.9 from June's reading of 61, a level that also represented a record high for a final reading.
- Lloyds Banking Group to pay $370 million Libor rigging fines
- Mon, 28 Jul 2014 08:51:23 -0400 -
Britain's Lloyds Banking Group has agreed to pay fines totaling $370 million to U.S. and British authorities investigating its part in a global interest rate rigging scandal and manipulating fees for a government lending scheme. The settlement is the seventh joint penalty handed out by U.S. and British regulators in connection with the attempted manipulation of the London interbank offered rate, or Libor, and other similar benchmarks, which are used to price around $450 trillion of financial products worldwide. Lloyds' settlement follows British rivals Barclays and Royal Bank of Scotland , which agreed to pay fines of $453 million and $612 million respectively in 2012 and 2013. The FCA said the total UK fine of 105 million pounds include 70 million pounds for attempting to manipulate fees payable to the Bank of England for the firm's participation in the special liquidity scheme, a taxpayer backed government scheme to support British banks during the financial crisis.
- Wall Street little changed with S&P 500 near record
- Mon, 28 Jul 2014 09:36:02 -0400 -
NEW YORK (Reuters) - U.S. stocks were little changed on Monday as investors looked ahead to the latest economic data and corporate earnings to give direction to a market near record levels. The Dow Jones industrial average fell 18.43 points, or 0.11 percent, to 16,942.14, the S&P 500 lost 1.31 points, or 0.07 percent, to 1,977.03 and the Nasdaq Composite added 0.30 points, or 0.01 percent, to 4,449.86. (Reporting by Angela Moon; Editing by Bernadette Baum)
- Dollar Tree to buy Family Dollar for $8.5 billion
- Mon, 28 Jul 2014 08:09:56 -0400 -
(Reuters) - Discount store chain Dollar Tree Inc said it would buy rival Family Dollar Stores Inc for about $8.5 billion, creating North America's biggest discount retailer. Shares of Family Dollar, which has been under pressure from activist investor Carl Icahn to sell itself, rose almost 25 percent to $75.50 in premarket trading on Monday. Dollar Tree shares were up 8.8 percent at $59. Dollar Tree, whose products cost $1 or less, caters to the middle class.
- Argentina sending team to New York for last-minute debt talks
- Mon, 28 Jul 2014 09:45:08 -0400 -
By Richard Lough BUENOS AIRES (Reuters) - Argentina will send a negotiating team to New York on Monday for further talks with a U.S. court-appointed mediator in a debt dispute with 'holdout' investors, cabinet chief Jorge Capitanich said, with just three days to go to avert a default. If the deadlock persists, U.S. District Judge Thomas Griesa will prevent Argentina from making a July 30 deadline for a coupon payment on exchanged bonds, triggering a new default. Argentina wants a stay of Griesa's 2012 ruling ordering the Buenos Aires government to pay the holdouts. For this reason Argentina wants a stay," Capitanich told reporters.
- Europe nervy as Russian assets hit by new sanctions talk
- Mon, 28 Jul 2014 07:55:31 -0400 -
By Marc Jones LONDON (Reuters) - The euro was stuck near its lowest level since November and Russian markets tumbled for a third straight day on Monday as new European sanctions for Moscow chilled the already frosty relationship between the two. The 28-nation European Union reached an outline agreement on Friday on its first economic sanctions on Russia. Russia warned the moves would hamper cooperation between the two and undermine the fight against terrorism, although Foreign Minister Sergei Lavrov said on Monday that Moscow would not impose tit-for-tat measures. Europe's main bourses were flat in subdued trade as strong earnings updates and relief over Russia's response, and that the EU measures had steered away from Russia's gas industry, balanced concerns about the impact of the sanctions.
- Tyson to sell Mexico, Brazil poultry businesses to JBS
- Mon, 28 Jul 2014 09:56:50 -0400 -
(Reuters) - Tyson Foods Inc TSN.N, the biggest U.S. meat processor, said on Monday it would sell its Mexican and Brazilian poultry businesses to bigger global rival JBS SA's JBSS3.SA Pilgrim's Pride for $575 million. Tyson also reported a 4.4 percent increase in third-quarter profit and forecast sales for the fiscal year ending September 2015 above Wall Street analysts' estimate. Shares in Tyson jumped 3.1 percent in early trading. Proceeds from the sale of Tyson's Mexico and Brazil poultry operations will be used to help pay down debt associated with its $7.7 billion acquisition of Hillshire Brands Co HSH.N, which is expected to close before Sept. 27.
- Nissan aims to boost U.S. sales and profit as it closes on Honda
- Mon, 28 Jul 2014 06:23:42 -0400 -
By Yoko Kubota YOKOHAMA Japan (Reuters) - Nissan Motor Co Ltd aims to boost sales and profitability in the United States, its biggest market, an executive said, after Japan's No.2 automaker posted a 14 percent rise in quarterly U.S. sales, closing in on rival Honda Motor Co . For the April-June quarter, Nissan posted a 4.3 percent quarterly operating profit margin for North America, up from the 3.8 percent it booked the same period a year ago. In the first six months of the year, Nissan's U.S. sales grew 12.8 percent, making it the sixth-best selling carmaker in the country. It surpassed Hyundai Motor Co and is closing in on Honda, whose sales fell 0.8 percent during the same period.
- Hague court orders Russia to pay over $50 billion in Yukos case
- Mon, 28 Jul 2014 10:12:20 -0400 -
By Megan Davies, Jack Stubbs and Thomas Escritt MOSCOW/LONDON/AMSTERDAM (Reuters) - The Hague's arbitration court ruled on Monday that Russia must pay a group of shareholders in oil giant Yukos $51.6 billion for expropriating its assets, a big hit for a country teetering on the brink of recession. The arbitration panel in the Netherlands said it had awarded shareholders in the GML group just under half of their $114 billion claim, going some way to covering the money they lost when the Kremlin seized Yukos, once controlled by Mikhail Khodorkovsky, a decade ago. "The award is a slam dunk. ...
- Lloyds bank settles with US, UK over market fixing
- Mon, 28 Jul 2014 09:44:09 -0400 - LONDON (AP) — Lloyds Banking Group says it will pay 218 million pounds ($400 million) to U.S. and British authorities to settle allegations it manipulated benchmark interest rates.
- Nissan profit rises on strong sales, cheap yen
- Mon, 28 Jul 2014 05:10:24 -0400 -
TOKYO (AP) — Nissan's quarterly profit rose nearly 37 percent, helped by a favorable exchange rate and healthy sales in North America and China.
- Virgin America files for IPO
- Mon, 28 Jul 2014 09:45:24 -0400 - NEW YORK (AP) — Virgin America's next destination is Wall Street.
- Russia ordered to pay $50 billion over Yukos
- Mon, 28 Jul 2014 08:15:59 -0400 -
LONDON (AP) — An international court on Monday ordered Russia to pay more than $50 billion to the former majority shareholders of now defunct oil company Yukos, ruling that the state engaged in a ruthless campaign to destroy what was once the country's biggest oil producer.
- Tyson to sell Mexico, Brazil poultry operations
- Mon, 28 Jul 2014 07:56:16 -0400 - SPRINGDALE, Ark. (AP) — Tyson Foods plans to sell its poultry businesses in Mexico and Brazil for $575 million in cash to help pay debt from its recently announced acquisition of Hillshire Brands.
- Europe stocks struggle, Asia rises on China data
- Mon, 28 Jul 2014 08:36:32 -0400 - BEIJING (AP) — European stock markets struggled on Monday and Wall Street was expected to dip on the open amid ongoing concerns about earnings and the economic impact of sanctions on Russia. Asian indexes closed higher, however, after China reported strong corporate profits.
- Meat supplier: China unit fell short of standards
- Mon, 28 Jul 2014 06:32:28 -0400 -
BEIJING (AP) — A U.S. meat supplier said Monday a Chinese subsidiary embroiled in a safety scandal fell short of its requirements for maintaining high standards.
- Britain reopens way for fracking
- Mon, 28 Jul 2014 07:23:29 -0400 - LONDON (AP) — Energy firms will be able to bid for licenses Monday to explore for shale gas in Britain, three years after the controversial fracking process caused seismic tremors which led the government to suspend operations.
- Survey: US gas prices fall 9 cents to $3.58
- 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.
- Comic-book convention organizers clash over name
- 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.
- Twitter Is Still the Best Water Cooler Ever for Brands
- Mon, 28 Jul 2014 00:53:50 -0400 -
Twitter is an essential platform for businesses marketing to other businesses and it's morphing quickly to a direct response "buy it now" platform functionality like Pinterest and Facebook. I anticipate "social selling" will accelerate moving forward, as social platforms embrace mobile enabled direct commerce and marketers pour more money into...
- 7 Steps to Ease Into Meditation
- 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...
- Entrepreneurs Today Don't Need a Big Budget to Start
- 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...
- The SHEvolution Is Coming
- 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...
- Enough Fed! Give Free Markets a Chance!
- 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...
- Is Your Business Challenging Conventional Thinking?
- 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...
- How to Disrupt Unemployment
- 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...
- 8 Things to Know When You Want to Work for Yourself
- 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,...
- The Creative Class with Paddle8: Tips for Launching a Successful Startup (VIDEO)
- 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,...
- How To Avoid 'No Vacation Nation' Burnout
- 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...
- Go West Young Man (or Woman)
- 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...
- 6 Ways You Can Solve Your Lead Generation Problems Right Now
- 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...
- The Simple LinkedIn Mistake That Is Killing Your Job Chances
- 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...
- Grow Your Business by Protecting Your Life With Guardrails
- Thu, 17 Jul 2014 18:51:57 -0400 -
If 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.
- SEC Targeting 10 Firms In High-Speed Trading Investigation
- 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. ...
- Should Your Business Become a B Corporation?
- 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.
- Just Pick Up the F*#@ing Phone
- Thu, 17 Jul 2014 15:05:45 -0400 -
Like 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?
- Women in Business Q&A: Jess Lee, CEO and Co-Founder of Polyvore
- 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
- SEO Questions Franchise Owners Need to Ask
- Thu, 17 Jul 2014 14:54:38 -0400 -
Asking 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.
- Startups: Switzerland's New Graduate Program
- 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. ...