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Chrysler to recall 2.7 mn Jeeps but says vehicles not defective

Wed, 19 Jun 2013 17:20:18 -0400

NEW YORK - Chrysler avoided a showdown with the US government by agreeing to recall 2.7 million Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions. Chrysler said it recognised the matter had raised concerns for customers The US company said it had resolved its differences with the National Highway Traffic Safety Administration (NHTSA). The recall affects ...

Dalian Wand Group to enhance UK presence with luxury hotel and yacht unit

Wed, 19 Jun 2013 17:45:23 -0400

LONDON - China's largest premier commercial property and entertainment conglomerate, Dalian Wanda Group Wednesday entered into 320million pounds definite acquisition deal with leading British yacht company, Sunseeker International Ltd, under which Wanda will acquire a majority shareholding of 91.81% in pre-eminent luxury motor yacht manufacturer. Under the agreement, the remaining 8.19% stake ...

Four US mortgage servicers faulted for lapses by settlement monitor

Wed, 19 Jun 2013 17:19:27 -0400

WASHINGTON - Four of the largest U.S. mortgage servicers, including Citigroup Inc (C). and Bank of America Corp., have failed to adequately upgrade their treatment of customers in danger of foreclosure, according to a court-appointed monitor. Bank of America, Citigroup, JPMorgan Chase and Wells Fargo have failed to adhere to some of the new standards set out in a landmark settlement meant to ...

EU antitrust regulator fines Lundbeck and several generic drug firms

Wed, 19 Jun 2013 17:13:25 -0400

BRUSSELS - European Union in its first case over pay-for-delay deals that held back sales of cheaper generic drugs Wednesday fined Danish pharmaceutical company Lundbeck 93.8 million euros and imposed fines totaling 52.2 million euros on several other producers of generic medicines. The European Commission, the EU's antitrust regulator, said the companies had reached agreements that may have ...

Spain making progress but requires urgent action to generate growth says IMF

Wed, 19 Jun 2013 17:10:52 -0400

MADRID - Spain risks high joblessness and sluggish growth for years unless its government together with Europe takes "urgent action' to generate growth and jobs, the International Monetary Fund stated Wednesday. "While there are signs the economic contraction may end soon, the outlook remains difficult," IMF said in its annual assessment of the Spanish economy. "But unemployment remains ...

Yahoo follows Facebook and Microsoft in publishing US govt sought snoop data

Wed, 19 Jun 2013 02:40:03 -0400

Internet corporation Yahoo has followed the league of technological companies in publishing reports about 'snoop data' requests made by the US government. According to the Guardian, Yahoo has revealed that it had received 12,000-13,000 requests, inclusive of criminal, Foreign Intelligence Surveillance Act (FISA), and other requests by the government between 1 December 2012 and 31 May 2013. ...

Microsoft reverses position on Xbox One Internet game sharing

Wed, 19 Jun 2013 18:15:19 -0400

Reuters © Xbox One (C) with the Kinect motions sensor (L) and the controller is pictured during a press event unveiling Microsoft's new Xbox in Redmond, Washington May 21, 2013. REUTERS/Nick ...

Microsoft talked with Nokia about buying devices unit - report

Wed, 19 Jun 2013 18:15:11 -0400

SEATTLE (Reuters) - Microsoft Corp recently talked with Nokia about buying the Finnish phone maker's devices unit, but the discussions faltered and are not likely to be revived, the Wall Street Journal reported Wednesday in its online edition.The Journal reported that "advanced discussions" on a deal happened as recently as this month, according to unnamed sources it said were ...

Eden Prairie-based Stratasys to buy MakerBot for $403 million

Wed, 19 Jun 2013 18:13:17 -0400

Eden Prairie -based maker of printers that can create three-dimensional objects, agreed to buy MakerBot Industries LLC for at least $403 million, acquiring a start-up competitor in the rapidly growing ...

Stocks slide and bond yields rise after Bernanke says Fed could slow its bond purchases

Wed, 19 Jun 2013 18:13:16 -0400

NEW YORK -- Stocks are closing sharply lower and bond yields are rising after Fed Chairman Ben Bernanke said the central bank could slow its massive bond purchases this year. The Dow Jones industrial average dropped 206 points, or 1.4 percent, to 15,112. It was the Dow's seventh straight move of 100 points or more. The Standard & Poor's 500 fell 22, or 1.4 percent, to 1,628. ...

Gold ending higher as other metals dip grain contracts rise

Wed, 19 Jun 2013 18:13:15 -0400

Gold is ending higher in Wednesday trading. The August contract is up $7.10 to $1,374 per ounce. Silver and copper are lower with platinum and palladium off by more than 1 percent. Benchmark crude finished 20 cents lower at $98.24 per barrel on the Nymex. Other energy contracts were higher. Wheat, corn and soybeans are up for the ...

Wisconsin Department of Health Services secretary takes medical leave

Wed, 19 Jun 2013 18:13:13 -0400

MADISON, Wis. -- Wisconsin Department of Health Services Secretary Kitty Rhoades is taking a leave of absence to have hip replacement surgery. DHS released a statement saying Rhoades' leave began on Wednesday. She hopes to return by the end of July. Deputy Secretary Kevin Moore will take over the agency in the interim although Rhoades said she will be involved in decision-making as her ...

Father sentenced for binding kids outside Wal-Mart

Wed, 19 Jun 2013 18:12:55 -0400

LAWRENCE, Kan. -; A suburban Chicago man was sentenced Wednesday to 30 months in prison for binding and blindfolding two of his children a year ago in a Wal-Mart parking lot in eastern ...

Stork missing from Safari Park

Wed, 19 Jun 2013 18:12:45 -0400

San Diego Zoo Safari Park officials are searching the North County today for an exotic bird that got caught in a wind gust and flew away Monday ...

Bernanke May Have Just Made the Jobs Report More of a Circus

Wed, 19 Jun 2013 18:09:15 -0400

One of the government's most-hyped economic reports may start getting even more scrutiny thanks to Ben Bernanke. That's because the Federal Reserve chairman made some news on ...

Microsoft changes Xbox One policies after outcry

Wed, 19 Jun 2013 18:08:35 -0400

NEW YORK -- Microsoft is rolling back a much-criticized requirement that its upcoming Xbox One gaming console be regularly connected to the Internet and making clear that there will be no limitations on sharing games.Microsoft Corp. has been criticized for vague statements about whether it will allow Xbox One buyers to play secondhand software. Gamers also expressed distaste for a requirement ...

After Hours Red Hat Nokia among gainers after hours

Wed, 19 Jun 2013 18:08:20 -0400

SAN FRANCISCO (MarketWatch) -- Linux software developer Red Hat Inc. was among the stocks seeing notable activity in after-hours trading following the company's quarterly ...

Microsoft Dynamics Apps Hit Azure Cloud

Wed, 19 Jun 2013 18:06:17 -0400

Microsoft announced Tuesday that it's finally offering its Dynamics GP and Dynamics NAV ERP applications on the Windows Azure cloud. The offering comes six months later than originally promised, but it gives customers a "secure, enterprise-class cloud infrastructure [option] from a trusted provider," according to Paul White, senior director, Microsoft Dynamics ERP. ...

Xbox One Microsoft abandons controversial DRM restrictions

Wed, 19 Jun 2013 18:05:28 -0400

Company responds to global outcry and removes daily online requirements and restrictions to pre-owned sales. Xbox president, Don Mattrick, thanks gamers for "candid ...

The Federal Reserves dysfunctional relationship with the markets | Heidi Moore

Wed, 19 Jun 2013 18:05:23 -0400

stock markets , the bond markets, the markets for government-supported mortgages, the Fed is both the poison and the medicine.The Fed cured them of their ills. It helped pull those markets out of their doldrums in 2009. The central bank was so good at its job that the Fed is now essentially a market participant itself, influencing the prices in all those markets. As ...

Next government will have to cut 50 faster to meet deficit target

Wed, 19 Jun 2013 18:05:21 -0400

The next government will have to increase the pace of spending cuts by 50% in the two years after the 2015 election if it is to meet the current deficit target, new research by the Resolution Foundation thinktank shows.The report finds that if the next government decides instead to stick with the current - already punishing - pace of cuts, the deficit target will only be met by raising taxes by ...

Microsoft To Reverse Xbox One Policies After Fan Revolt

Wed, 19 Jun 2013 18:04:50 -0400

report from Giant Bomb earlier today, Microsoft has announced today that they've listened to player feedback, and are lifting two of the most important restrictions of the console. Here they are, pulled straight ...

Say what Microsoft offering up to $100000 for novel exploits of Windows 8.1 protections

Wed, 19 Jun 2013 18:03:31 -0400

Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Janet I. ...

Bernankes Private Exit Strategy

Wed, 19 Jun 2013 18:02:41 -0400

That tension then relaxation was a very interesting physical phenomenon. It's almost as if he realized for the first time, in the middle of the question, that he personally has an exit strategy. He's getting out long before the Fed gets out of QE. And he's keeping it ...

Microsoft Buckles Sets XBox One Free

Wed, 19 Jun 2013 18:02:40 -0400

Microsoft has announced a major policy change on the most controversial policies of the Xbox One, bowing to growing negative consumer sentiment. In a stunning reversal, the company announced that the system would no longer require an Internet connection (beyond an initial period when users first set up their system), dropped all restrictions on trading and loaning games to friends and did away ...

SandRidge Energy Ousts Founder

Wed, 19 Jun 2013 18:02:40 -0400

SandRidge Energy 's board of directors on Wednesday said CEO Tom Ward will be replaced by company president James Bennett, citing a need for new leadership at the U.S. oil and gas company.The Oklahoma City, Oklahoma, company has been under fire since last year from activist investor TPG-Axon Capital and another hedge fund for governance lapses and strategic missteps. Current president James ...

McAfee Tries to Fix His Own Software

Wed, 19 Jun 2013 18:02:39 -0400

spoof on YouTube (Warning: graphic language and images definitely NSFW) aiming to address years of complaints from computer users wanting to remove McAfee software from their devices. Hold onto your mouse pad, because this video is not for the faint of heart. It begins with McAfee explaining that even though he hasn't been affiliated with his namesake firm for 15 years, people keep asking ...

Major Stores May Mislead With Sales

Wed, 19 Jun 2013 18:02:39 -0400

Bargain shoppers beware: Some major retailers may be misleading consumers with those big sales. We all love a good sale, and when you see that sign--20 percent off, 30 percent off, 50 percent off--you assume you're getting a deal. But we found that the sale price may not be a deal at all. Now, customers are fighting back with class action lawsuits against two of the country's most ...

Fed will keep pedal to metal on economic stimulus for now

Wed, 19 Jun 2013 17:56:57 -0400

Repairman Jerry Garcia works on an engine on the assembly line at the Ford plant in Brook Park, Ohio. The American auto industry has made a remarkable turnaround. The economy is growing, the labor market is improving and inflation is nothing to worry about. That's the Federal Reserve's widely-anticipated assessment of the economy, released Wednesday after a two-day meeting.The Fed said ...

Federal Reserve Hints At Slowing Bond Purchases

Wed, 19 Jun 2013 17:54:40 -0400

The US Federal Reserve has signalled it is moving closer to slowing its bond-buying programme, which is intended to keep long-term interest rates at record lows. The Fed offered a more optimistic outlook for the US economy and job market, but said it will maintain the pace of its bond purchases for now. Chairman Ben Bernanke said the Federal Reserve could scale back its $85b (£54b) in ...

Xbox 180 Microsoft Fully Reverses Xbox Ones DRM Policies

Wed, 19 Jun 2013 17:51:04 -0400

Xbox One will not require regular online check-ins or place restrictions on game lending, ';as a result of feedback from the Xbox community,'; Microsoft announced today. The announcement is a complete reversal ...

SandRidge CEO Tom Ward ousted Bennett takes job

Wed, 19 Jun 2013 17:49:50 -0400

Elon Musk, Tesla Motors CEO, tells the Reuters Global Tech Summit that he'll talk to politicians who back local car dealers trying to keep Tesla from selling directly to ...

U.S. aerospace companies seek to reassure public on drones

Wed, 19 Jun 2013 17:49:50 -0400

PARIS (Reuters) - U.S. aerospace companies, keen to benefit from billions of dollars in possible future orders for civilian drones, are mobilizing to assuage public concerns about privacy and ...

Cliffs could halt Bloom Lake expansion if iron price falls

Wed, 19 Jun 2013 17:49:49 -0400

CLF.N ) said on Wednesday that if iron ore prices fell further, it could scrap a key expansion at its Bloom Lake mine in Canada's iron-rich Labrador Trough ...

US stocks tumble on Fed announcement

Wed, 19 Jun 2013 17:48:27 -0400

US stocks have fallen sharply after Federal Reserve chairman Ben Bernanke said the Fed may begin to taper bond purchases later this ...

Precious Metals and Stocks Sink After Federal Reserve Statements

Wed, 19 Jun 2013 17:47:21 -0400

SLV ) futures for July edged 5 cents lower to finish at $21.62.Both precious metals were relatively quiet ahead of the Federal Open Market Committee's highly-anticipated statement. As expected, the central bank will not dial down its bond-buying programs ...

An ETF For Quality Connoisseurs

Wed, 19 Jun 2013 17:47:02 -0400

Year-to-date and over the past 90 days, SPHQ has outpaced the S&P 500. Along those lines, it may not be surprise that S&P Capital IQ rates the $244.8 million ETF Overweight. S&P has four-star ratings on three SPHQ holdings: Dow ...

U.S. competition from Nordstrom good for Hudson’s Bay CEO says

Wed, 19 Jun 2013 17:45:43 -0400

TORONTO – Hudson's Bay Co. is looking forward to the arrival of rival Nordstrom to Canada, its chief executive says -- if only to showcase the veteran Canadian retailer's superior deals to consumers. Richard Baker said Wednesday Nordstrom's first store in Calgary in 2014 will likely strike consumers as beautiful and staffed with many helpful salespeople, but nevertheless as ...

Italian fashion designers Dolce and Gabbana given 20-month jail sentences for tax evasion

Wed, 19 Jun 2013 17:45:43 -0400

MILAN -- Fashion designers Domenico Dolce and Stefano Gabbana were handed a 20-month suspended prison sentence and a heavy fine on Wednesday for hiding hundreds of millions of euros from the Italian tax authorities. The design duo, who are nearly as famous as the stars they dress, were not present in court in Milan and will lodge an appeal against their conviction on charges that they have ...

Quebec regulator declares Desjardins too big to fail

Wed, 19 Jun 2013 17:45:42 -0400

Desjardins Group is one of the largest credit unions in Canada and now it’s also too big to fail. The Quebec Financial Markets Authority on Wednesday identified Desjardins Group as a so-called systemically important institution, putting it in the same class as the country’s big six banks. Under international Basel financial rules, systemically important institutions are financial ...

Bernanke sends stocks bonds skittering

Wed, 19 Jun 2013 17:44:37 -0400

Federal Reserve Chairman Ben Bernanke is on a television screen as specialist James Naughton works at his post on the floor of the New York Stock Exchange Wednesday, June 19, ...

GM Passes Toyota for First Time in Survey

Wed, 19 Jun 2013 17:43:36 -0400

J.D. Power & Associates’ Initial Quality Study for the first time since the survey started 27 years ago. J.D. Power’s survey of new vehicles was redesigned for 2013 to measure the quality and problems related to new technologies, the marketing information services company ...

Prisoners $1T Lawsuit Over Belly Ache

Wed, 19 Jun 2013 17:43:36 -0400

Jun 19, 2013 4:34pm A convict in an Arizona prison won’t quit his belly aching unless he’s paid $1 trillion – literally. Dale Frank Maisano, 61, an inmate at the Arizona State Prison Complex in Tucson, is suing the company that runs the prison’s commissary for $1 trillion, claiming the food gave him cramps and caused him to lose ...

Britain to start sale of Lloyds soon review RBS split

Wed, 19 Jun 2013 17:06:15 -0400

By Matt Scuffham and David MillikenLONDON (Reuters) - Britain is ready to start selling its shares in Lloyds Banking Group and will examine whether to break up Royal Bank of Scotland, Chancellor George Osborne said, admitting the re-privatisation of RBS remains a long way off.The government is keen to show Britain's part-nationalised banks are recovering from the 2008 financial crisis and a ...

Finisar profit beats Street estimates shares jump

Wed, 19 Jun 2013 17:06:09 -0400

(Reuters) - Network equipment maker Finisar Corp reported a quarterly profit that beat analysts' expectations as demand for its fiber optic products rose.Finisar shares rose 10 percent in trading after the bell. The stock closed at $14.52 on the Nasdaq on Wednesday.Net profit attributable to the company fell to $3.9 million, or 4 cents per share, in the fourth quarter from $18 million, or 19 ...

GOP lawmaker says his opposition to state budget isnt a surprise

Wed, 19 Jun 2013 17:04:04 -0400

MADISON, Wis. -- One of three Assembly Republicans who voted against the state budget says he had made up his mind a long time ago. Rep. Steve Kestell of Elkhart Lake said Wednesday that his "no" vote was because the budget contains too many non-fiscal policy items he opposes or didn't have time to understand. Two other Republicans, Reps. Steve Nass and Howard Marklein, joined ...

As wildfires rage federal government spending less on preventing them

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

COLORADO SPRINGS, Colo. -- As the West battles one catastrophic wildfire after another, the federal government is spending less and less on its main program for preventing blazes in the first place. A combination of government austerity and the ballooning cost of battling the ruinous fires has taken a bite out of federal efforts to remove the dead trees and flammable underbrush that clog Western ...

2 ex-BP employees face new indictments in federal probe of massive Gulf oil spill

Wed, 19 Jun 2013 17:04:02 -0400

NEW ORLEANS -- Federal prosecutors have secured new indictments against a former BP engineer and a former BP executive charged separately with obstructing investigations of the company's 2010 oil spill in the Gulf of Mexico. Wednesday's indictment of former BP executive David Rainey adds language alleging that he knew of the pending congressional investigation he is charged with ...

Maine governor staff to stop talking to reporters for 3 newspapers accusing them of bias

Wed, 19 Jun 2013 17:03:59 -0400

PORTLAND, Maine -- Maine's blunt-spoken governor doesn't mince words when opponents dare to cross him but he's saved some of his harshest criticism for newspapers, once telling schoolchildren he isn't a fan of papers and another time saying that reading one is "like paying somebody to tell you lies." Now it's gone to an extreme, with Republican Gov. Paul LePage ...

Jabil Circuit Profit Down Sees Q4 Earnings Below Street

Wed, 19 Jun 2013 17:02:52 -0400

Quote ), Wednesday said its profit for the third quarter declined as restructuring charges and higher manufacturing costs offset revenue growth. Nonetheless, both earnings and revenues for the quarter came in ahead of Wall Street estimates.Moving ahead, Jabil detailed a weak earnings outlook for the fourth quarter, which is indicated to miss current expectations.Jabil said revenues for the third ...

FedEx shoots above forecast in quarterly earnings

Wed, 19 Jun 2013 16:59:21 -0400

FedEx reported better than estimated profit in the last quarter, boosted by growth in its ground shipment business, while also benefitting from lower jet fuel ...

Asian stocks mixed ahead of Fed announcement Nikkei rallies on exports

Wed, 19 Jun 2013 16:59:16 -0400

Asian stocks were mixed on Wednesday ahead of Fed Chairman Ben Bernanke’s speech later in the day. The U.S. Federal Reserve two-day meeting ends today and investors are looking for clues on the outlook for ...

Asian stocks advance ahead of this week`s Federal Reserve meeting

Wed, 19 Jun 2013 16:59:16 -0400

Asian stocks advanced with the start of the week, ahead of the U.S. Federal Reserve two-day meeting that covenes on Tuesday. Market participants will focus on this meeting as it might show the direction of the central bank stimulus ...

Microsoft enters bug bounty fray for first time

Wed, 19 Jun 2013 16:56:48 -0400

Google targets cross-site scripting by more than doubling bug bounties In a move geared to keep up with the ever-changing online threat landscape, Google has increased its reward levels for researchers that uncover flaws. In particular, Google has its sights set on cross-site ...

Tell Sid Public will be offered shares in Lloyds

Wed, 19 Jun 2013 16:56:36 -0400

The prospect of an eventual "tell Sid"-style sale of shares in Lloyds Bank was raised by George Osborne as he claimed Britain's economy had emerged from "intensive ...

Hearts get 15-point SPL deduction after appointing administrator

Wed, 19 Jun 2013 16:56:08 -0400

Hearts will begin next season with a 15-point penalty after their major creditor, Ukio Bankas, succeeded in installing its preferred administrator in charge of the club - the major battle for survival will now take place off the pitch as BDO looks to negotiate the club out of a 25m deficit.Ukio Bankas, which is itself bankrupt, and the joint-administrator Bryan Jackson both stated their intention ...

George Osborne ready to sell taxpayers stake in Lloyds Banking Group

Wed, 19 Jun 2013 16:56:07 -0400

Royal Bank of Scotland , in a move that could delay the bailed out bank's return to the private sector.In his annual speech to City grandees at Mansion House on Wednesday night, the chancellor said he was "actively considering options for share sales in Lloyds", in which the government has a 39% stake. Speculation is mounting that a partial sell-off of the state's Lloyds stake ...

George Osbornes shift on bad bank model is welcome

Wed, 19 Jun 2013 16:55:52 -0400

George Osborne announced, the option of a good bank/bad bank split at RBS will be examined in detail. In any case, privatisation of RBS is "some way off", said Osborne, and Lloyds is top of the batting order for a sale of shares.What on earth is going on? Well, one thing is clear: the assembled forces of Lord Lawson and other members of the Banking Commission, the governor of the Bank ...

GM Drives Off With 8 J.D. Power Awards

Wed, 19 Jun 2013 16:53:07 -0400

General Motors vehicles won eight awards in the annual J.D. Power & Associates survey of initial quality, a marked improvement since the largest American automaker turned itself around after a 2009 bankruptcy. GM cars and trucks won eight top prizes as the best vehicles in their segments of the U.S. auto market. Chevrolet, which accounts for 71 percent of General Motors' U.S. sales, ...

Chinese Billionaire to Buy Sunseeker

Wed, 19 Jun 2013 16:53:06 -0400

Now, the owner of the Wanda 2, Wang Jianlin, the billionaire chairman of the privately held Dalian Wanda Group, is betting there are others out there who are ready to one-up him. On Wednesday, Mr. Wang's company, which last year bought the American cinema chain AMC Entertainment for $2.6 billion, said it would invest 1 billion ($1.6 billion) to acquire Sunseeker International, the British ...

Microsoft Held Talks With Nokia

Wed, 19 Jun 2013 16:53:06 -0400

Nokia 's device business, according to a report in the Wall Street Journal. The talks have faltered, according to people familiar with the negotiations, and one person said talks took place as recently as this month but aren't likely to be revived. Read the full Wall Street Journal ...

New US Climate Strategy Brewing

Wed, 19 Jun 2013 16:53:05 -0400

Barack Obama will target carbon emissions from power plants as part of a second-term climate change agenda expected to be rolled out in the next few weeks, his top energy and climate advisor said on Wednesday. Obama will take several steps to make tackling climate change a "second-term priority" that builds on first-term policies, Heather Zichal, deputy assistant to the president for ...

Treasury considering Lloyds sale

Wed, 19 Jun 2013 16:51:57 -0400

Libor rate-rigging scandal. Senior bankers should be personally responsible for malpractice, with a new criminal offence of reckless misconduct in the management of a bank that carries a custodial sentence, the commission concluded. It also called for bankers to be licensed and to sign up to a set of banking standards rules.A Treasury spokesman said the report was a "very impressive piece of ...

Stocks skid 200 points as Fed hints at stimulus slowdown

Wed, 19 Jun 2013 16:47:25 -0400

41 minutes ago Stocks accelerated their selloff in the final hour of trading on Wednesday to close over 200 points lower, after the Federal Reserve said it will maintain its bond-buying program, although Chairman Ben Bernanke hinted that the FOMC plans to moderate purchases later this year. "They don't tie themselves officially into anything but it's clearly what they're ...

Cheapism Best free jobs sites

Wed, 19 Jun 2013 16:47:24 -0400

1 hour ago If only prospective employers sought you out as aggressively as some career sites do. You could just sit back and wait for your dream job to show up on a Super Bowl commercial or banner ad. With so many websites vying for job seekers' attention, it's easy to while away precious hours trying them all. Instead, pick your spots. Experts suggest spending most of your time ...

Consumer group says student loan debt relief firms misleading borrowers

Wed, 19 Jun 2013 16:47:23 -0400

By Bob Sullivan, Columnist, NBC News Struggling student loan debtors are being tricked into paying up to $1,600 in fees to private firms offering "debt relief" that they could get for ...

Wall Street falls sharply on Bernanke comments

Wed, 19 Jun 2013 16:46:02 -0400

U.S. stocks fell 1% in a volatile session on Wednesday, with losses accelerating after Federal Reserve Chairman Ben Bernanke said a reduction in the rate of stimulus could occur this year if the economy continues to improve. Shortly before Bernanke spoke at a news conference, stocks fell modestly after Fed policymakers said in a statement the Fed would keep buying $85 billion in bonds per month ...

Chancellor Unveils Plan For State-Owned Banks

Wed, 19 Jun 2013 16:45:04 -0400

Shadow chancellor Ed Balls has said the review into the future of RBS is welcome but the Government must look at all options, including splitting it ...

Microsoft had flirted with buying Nokia WSJ says

Wed, 19 Jun 2013 16:42:55 -0400

Wall Street Journal . With such a deal, Microsoft would gain direct control over the mobile device maker, which has been the marquee partner for the software giant's fledgling Windows Phone operating system. CNET contacted Microsoft and Nokia for comment, and we will update the story when the companies respond. More to ...

Harvard hires Xia from Morgan Stanley as chief risk officer

Wed, 19 Jun 2013 16:40:14 -0400

BOSTON (Reuters) - Harvard University said on Wednesday that it had hired Wall Street veteran Jake Xia as its chief risk officer to analyze and monitor investment exposure in its $30.7 billion ...

Microsoft offers cash for hacker tactics

Wed, 19 Jun 2013 16:39:31 -0400

MICROSOFT has posted bounties of up to $US100,000 ($A106,000) for "truly novel" ways to hack the latest version of its Windows software for powering ...

Microsoft Nokia had device acquisition talks WSJ

Wed, 19 Jun 2013 16:38:12 -0400

-0.26% that nearly led to the software giant acquiring the Finnish telecom company's mobile device business, according to a report in the Wall Street Journal. The Journal said that the two companies made "significant progress" toward a deal, but talks broke down due to a final price and Nokia's market position, as it trails behind Apple ...

Instant View Fed to keep buying bonds boosts 2014 forecasts

Wed, 19 Jun 2013 16:37:33 -0400

The Federal Reserve on Wednesday said it would keep buying $85 billion in bonds per month and gave no explicit indication that it was close to scaling back the program, despite intense market speculation it could soon start drawing it to a close. KEY POINTS: * Describing the economy as expanding moderately, Fed officials cited further improvement in labor market conditions, and noted inflation ...

Kodak Bankruptcy Company Seeks Court Approval for $406 Million Rights Offering

Wed, 19 Jun 2013 16:37:12 -0400

Antonio M. Perez, Kodak's chairman and CEO While members of the theatrical exhibition community are gathered at next week’s CineEurope conference, Kodak will be in a New York courtroom on June 25 for a key hearing in the company’s effort to emerge from chapter 11 bankruptcy and continue to produce film ...

Griffiths International has more modest going-public ambitions

Wed, 19 Jun 2013 16:36:06 -0400

Despite a series of ongoing obstacles, the gang at Caracal Energy, the new name for the former Griffiths Energy International, is pressing ahead with plans to go public. The reality is that those plans keep getting pushed back - and narrowed in scope. This week, Caracal filed a 274-page non-offering prospectus with regulatory authorities in Canada designed to enable Caracal "to become a ...

Keystone XL denial won’t block oil sands ambassador

Wed, 19 Jun 2013 16:36:04 -0400

Heavy oil from Alberta will be developed with or without the proposed Keystone XL pipeline, though the fuel will be delivered to market using less efficient means, Canada's ambassador to the U.S. said. Speaking at a Bloomberg Government breakfast in Washington Wednesday, Gary Doer said he supported the U.S. State Department's finding in March that blocking the TransCanada Corp. ...

Men’s Wearhouse ousts founder George Zimmer who told millions ‘You’re going to like the way you look’

Wed, 19 Jun 2013 16:36:03 -0400

NEW YORK -- Apparently, Men's Wearhouse Inc. doesn't like the way its founder looks anymore. In a terse release issued Wednesday, Men's Wearhouse said it has fired the face of the company and its executive chairman, George Zimmer, who appeared in many of its TV commercials with the slogan "You're going to like the way you look. I guarantee it." In a statement ...

Video Bernanke The fundamentals look a little better

Wed, 19 Jun 2013 16:34:53 -0400

Federal Reserve Chairman Ben Bernanke says the fundamentals of the U.S. economy "look a little better to us," particularly the housing sector, which had been a drag on growth during the ...

Rumor Microsoft set to reverse controversial game licensing policies

Wed, 19 Jun 2013 16:33:48 -0400

changed certain policies for Xbox One "as a result of feedback from the Xbox community." More to come. ORIGINAL STORY Take this with a grain of salt for now, but Giant Bomb news writer Patrick Klepek ...

Gay Couples Face Rental Bias HUD Says

Wed, 19 Jun 2013 16:33:36 -0400

Same-sex couples face greater discrimination when looking for a place to rent than do heterosexual couples, a new federal study finds. ...

US STOCKS SNAPSHOT-Wall St ends sharply lower after Bernanke comments

Wed, 19 Jun 2013 16:05:41 -0400

NEW YORK, June 19 | Wed Jun 19, 2013 4:05pm EDT NEW YORK, June 19 (Reuters) - U.S. stocks fell sharply on Wednesday, with losses accelerating in afternoon trading after Federal Reserve Chairman Ben Bernanke said the central bank could begin to scale back its stimulus measures later this year. The Dow Jones industrial average was down 205.66 points, or 1.34 percent, at 15,112.57. The ...

Nvidias stock jumps on license plan Wall Street eyes Apple

Wed, 19 Jun 2013 15:57:26 -0400

By Noel Randewich(Reuters) - Shares of chipmaker Nvidia surged nearly 6 percent on Wednesday after the company said it plans to license its graphics technology, opening the door to new business with Apple, Samsung Electronics and other mobile device makers.Chief Executive Officer Jen-Hsun Huang told the Reuters Global Technology Summit in San Francisco on Tuesday that licensing graphics cores and ...

Best Buy recalls 5100 replacement batteries for MacBook Pro due to fire risk

Wed, 19 Jun 2013 15:55:13 -0400

Best Buy is recalling 5,100 replacement batteries for the MacBook Pro due to a fire risk. The U.S. Consumer Product Safety Commission said Wednesday that there have been 13 reports that the battery caught fire. One consumer suffered a serious burn on the leg. Best Buy Co. is voluntarily recalling both black and white ATG lithium-ion replacement batteries for the notebook computers. The ...

Wisconsin Senate to debate state budget Thursday following quick Assembly passage

Wed, 19 Jun 2013 15:55:10 -0400

MADISON, Wis. -- The Wisconsin Senate plans to debate the state budget on Thursday, and Republican Majority Leader Scott Fitzgerald says no changes are planned. Fitzgerald said Wednesday he thinks there are enough Republican votes in the Senate to pass it in its current form. Republicans hold an 18-15 majority, but some moderates have raised concerns with the expansion of private school vouchers ...

Study Wiser medication use could save US $213 billion a year in avoidable health care costs

Wed, 19 Jun 2013 15:55:09 -0400

TRENTON, N.J. -- If doctors and patients used prescription drugs more wisely, they could save the U.S. health care system at least $213 billion a year, by reducing medication overuse, underuse and other flaws in care that cause complications and longer, more-expensive treatments, researchers conclude. The new findings by the IMS Institute for Healthcare Informatics improve on numerous prior ...

Fed Interest rates wont go up til unemployment goes down

Wed, 19 Jun 2013 15:54:39 -0400

In this Wednesday, May 22, 2013 photo, Federal Reserve Chairman Ben Bernanke testifies on Capitol Hill in Washington. The Federal Reserve ends a policy meeting Wednesday, June 19, 2013. Investors have been nervously speculating that the Fed will soon scale back its economic stimulus and send interest rates up and stock prices down. (AP Photo/Manuel Balce ...

SEC sets tougher stance on Street wrongdoing may start requiring admissions of guilt

Wed, 19 Jun 2013 15:51:54 -0400

Hedge fund honcho Steve Cohen is suddenly looking pretty lucky.Just months after Cohen’s SAC Capital agreed to a $602 million SEC settlement over insider trading - without admitting any wrongdoing - the SEC is talking tough.Mary Jo White, the new head of the Securities and Exchange Commission, plans to hold a town hall meeting to discuss when to require some defendants to admit to ...

Take an early peek inside Microsofts new downtown Portland store

Wed, 19 Jun 2013 15:49:11 -0400

PORTLAND, Ore. - Microsoft Corp. gave reporters a preview of its gleaming new Portland store Wednesday ahead of its Thursday grand opening. Manager David Dantes leads a staff of 45 at the 3,200-square-foot store, constructed in the former Romano’s Macaroni Grill restaurant, 300 S.W. Yamhill St., at Pioneer Place in downtown Portland. The Portland store is one of seven Microsoft ...

Margate residents appeal against giant new Tesco

Wed, 19 Jun 2013 15:47:49 -0400

Angry residents of Margate have appealed to the High Court against the Government's decision to build a giant Tesco store on the ...

Papers please Microsoft creates second-class citizens with Office iPhone app

Wed, 19 Jun 2013 15:44:44 -0400

Computerworld - Microsoft erred when it decided that the new Office Mobile for iPhone would be available to Office 365 customers but not to those who purchased a traditional "perpetual" license to Office 2013, an analyst argued. "It's a mistake," said Frank Gillett of Forrester Research in an interview last week. "Any one [with Office 2013] should be able to access ...

Ex-Goldman Sachs VPs Defense Limited

Wed, 19 Jun 2013 15:44:32 -0400

Goldman Sachs vice president Fabrice Tourre can argue that he was acting on the advice of company lawyers in his defense against charges that he misled investors.The ruling could be another setback for Tourre ahead of his trial on July 15, after the judge earlier this month rejected his argument that ...

Investing to Retire Tax-Free

Wed, 19 Jun 2013 15:44:32 -0400

"Tax-free retirement" has a nice ring to it. If, like two-thirds of Americans, you are unsure you've saved enough for your out years, it's especially nice to know that Uncle Sam won't be pinching a slice of your meager pie. Or maybe you're an ample saver convinced by the tax talk in Washington that the feds will undo your careful planning by raising taxes by the time ...

Sex Toy Battle Shows Industry Growing

Wed, 19 Jun 2013 15:44:31 -0400

Is the sex toy business all grown up? In a highly watched case for the adult-entertainment crowd, a U.S. trade panel has ruled that several sex toy makers are violating a patent held by a Canadian company for a two-armed vibrator. The U.S. International Trade Commission ordered those competitors to stop making and selling products to Standard Innovation Corp.'s We-Vibe toy. While such ...

FBI Ends Search For Hoffa

Wed, 19 Jun 2013 15:44:30 -0400

The FBI has failed to find remains of ex-Teamsters leader Jimmy Hoffa in a field outside suburban Detroit, with the "Power Lunch" crew. The search goes ...

New Swine Virus Spreading Among Piglets

Wed, 19 Jun 2013 15:44:29 -0400

A swine virus never been seen in North America and deadly to young pigs is spreading rapidly across the United States, and it is proving harder to control than previously believed. The virus, with more than 100 positive cases, has spread to 13 states since it was diagnosed in the country last month, said Montserrat Torremorell, a specialist in swine health and professor at the University of ...

Tesla hints at battery swap thats faster than filling gas tank

Wed, 19 Jun 2013 15:38:57 -0400

People look at the Tesla Motors Model X electric vehicle at its unveiling at the Tesla Design Studio in Hawthorne, Calif. in February 2012. The company's CEO has hinted that it may offer a battery-swap option. Nearly a month after announcing plans to set up a high-speed network of "Supercharger" stations across the U.S. and Canada, Tesla CEO Elon Musk is hinting the start-up ...

Aldi Beats Big Four To Top Consumer Award

Wed, 19 Jun 2013 15:36:29 -0400

Discount retailer Aldi has been named the UK's best supermarket at the annual Which? awards. The consumer watchdog said Aldi took the title "for its impressive range of best buys, quality food and good pricing", trumping competition from major players such as Sainsbury's, Tesco, Asda and Morrisons. It follows Kantar figures released on Tuesday showing Aldi seized a ...

Icahn reiterates commitment for Dell buy

Wed, 19 Jun 2013 15:31:31 -0400

NEW YORK (Reuters) - Carl Icahn reiterated his interest in owning Dell Inc and said the $5.2 billion in financing he's putting together to back his bid for the company continues to move forward as planned. The comments came in a telephone interview Tuesday, echoing statements he made earlier in the day in an open letter to Dell ...

Web retailer Fab valued at $1 billion with funding from Tencent

Wed, 19 Jun 2013 15:31:30 -0400

As part of the funding round Tencent, China's largest online gaming and social networking company, will get to appoint a director to Fab's board, said Jason Goldberg, Fab's chief executive and founder, in a post on his personal blog on ...

Dassault wants Ottawa to open jet fighter contract to replace CF-18

Wed, 19 Jun 2013 15:26:55 -0400

French aircraft maker, Dassault Aviation, is urging the Canadian government to have an open contest for replacing its aging fleet of McDonnell Douglas CF-18 Hornets, arguing its Rafale fighter jet is a perfect fit. The procurement of a new fleet of fighter jets erupted into a national scandal after the Auditor General raised a red-flag on a the sole-sourced contract.The Department of National ...

First Leaside founder testifies at OSC hearing into fraud allegations

Wed, 19 Jun 2013 15:26:55 -0400

David Phillips, the founder of defunct real estate investment firm First Leaside Group of Companies, told an Ontario Securities Commission panel that he could not reveal a "viability" report at the heart of the fraud case against him to investors for fear it would result in a "Conrad Black and the boxes moment." Asked by his lawyer Alistair Crawley to explain the reference to ...

Understanding momentum in stock returns

Wed, 19 Jun 2013 15:25:54 -0400

(MoneyWatch) In 1993, Eugene Fama and Ken French released a paper explaining that stock returns are primarily due to three factors: market risk, size risk and value risk. However, this Fama-French three-factor model doesn't account for all stock returns, missing additional factors such as momentum. A recent paper sheds more light on how the momentum factor affects stock prices. Momentum ...

Bernanke holds the line on Fed monetary policy

Wed, 19 Jun 2013 15:25:52 -0400

(MoneyWatch) Ben Bernanke and other Federal Reserve officials are in no rush to take away the punch bowl. In a news conference, the Fed chairman said Wednesday that the U.S. economy continues to heal, but suggested that it is too soon to start tapering the central bank's $85 billion in monthly bond purchases. He also emphasized that monetary policy will continue to support growth even as the ...

Microsoft will pay up to $100K for new Windows exploit techniques

Wed, 19 Jun 2013 15:24:47 -0400

Microsoft has announced that it will give security researchers cash rewards for devising novel software exploitation techniques, creating new exploit mitigation systems, and finding bugs in the beta of Internet Explorer 11 when it's released later this month. Bug bounty programs, where security researchers receive a cash reward from software vendors for disclosing exploitable flaws in those ...

Fed Votes to Maintain Stimulus Program

Wed, 19 Jun 2013 15:24:37 -0400

The Federal Reserve announced today that it won't be changing its $85 billion a month bond purchasing stimulus program, though labor market conditions have improved in recent months. It will keep its target interest near zero while unemployment remains above 6.5 percent. The Fed, which has been injected trillions of dollars into the slowly recovering American economy, made an announcement ...

Microsoft to hire computer geeks to thwart hackers offers hefty bounties

Wed, 19 Jun 2013 15:24:33 -0400

Microsoft Corp is looking to recruit computer geeks in its ongoing efforts to protect Windows PCs from attacks, offering rewards of as much as $150,000 to anybody who helps identify and fix major security holes in its software. Microsoft unveiled the rewards program, one of the most generous in the high-tech industry to date, on Wednesday as it sought ways to prevent sophisticated attackers from ...

6-month-old shot at home on Alcoa Hwy.

Wed, 19 Jun 2013 14:51:13 -0400

Officers are investigating the shooting of a six-month-old child, the Knox County Sheriff's Office has confirmed. It happened Wednesday afternoon at a home on Alcoa Hwy. The child has been transported to UT Medical Center. We have a crew on the way and will have updates as soon as they are ...

Federal Reserve foresees lower US unemployment and inflation this year and next

Wed, 19 Jun 2013 14:47:53 -0400

WASHINGTON -- The Federal Reserve expects the U.S. unemployment rate to fall faster this year and next than it did in March. The Fed now predicts unemployment will fall to 7.2 percent or 7.3 percent at the end of 2013 from 7.6 percent now. It thinks the rate will be between 6.5 percent and 6.8 percent by the end of 2014, better than its previous projection of 6.7 percent to 7 percent. The 6.5 ...

Highlights of state budget passed by Assembly

Wed, 19 Jun 2013 14:47:51 -0400

MADISON, Wis. -- The two-year state budget passed by the Republican-controlled Assembly on a 55-42 vote now heads to the state Senate for an expected vote on Thursday. If it passes there in identical form, it then heads to Gov. Scott Walker who can sign it, veto all of it, or veto any individual items he opposes. The Legislature has the option to override Walker's vetoes. Here are some ...

Stock market falls as traders fear stimulus cuts

Wed, 19 Jun 2013 14:47:36 -0400

Trader Dudley Devine, foreground, uses his mobile phone and handheld device, as he works on the floor of the New York Stock Exchange Wednesday, June 19, 2013. Stocks edged lower in early trading on Wall Street Wednesday as investors waited for word from the Federal Reserve. (AP Photo/Richard ...

Voters support growth control in Encinitas

Wed, 19 Jun 2013 14:47:24 -0400

Guerin said her two groups --- Encinitas Residents, Business & Taxpayers Opposing Prop. A and Homeowners to Preserve Encinitas --- made a big push in the final days before the election to encourage people to come vote at the ...

KCSO investigating shooting off Alcoa Highway

Wed, 19 Jun 2013 14:42:28 -0400

Comments are the sole responsibility of the person posting them. You agree not to post comments that are off topic, defamatory, obscene, abusive, threatening or an invasion of privacy. Violators may be ...

No Taper Tipoff Fed Keeps the Easing Going

Wed, 19 Jun 2013 14:36:52 -0400

The Federal Reserve will keep its version of the monetary printing press running a while longer, and provided few hints Wednesday that the days of extreme easing are coming to a close. In a decision eyed with a surgeon's precision on Wall Street, the central bank's Open Markets Committee tiptoed around the vaunted "tapering" question, saying it will continue watching the ...

Who Will Be the Next Fed Chairman

Wed, 19 Jun 2013 14:36:51 -0400

The question of who the president will nominate to succeed Bernanke will probably be answered sometime this summer. The president will want to make sure the Senate has plenty of time to consider and confirm his nominee--and that the markets have time to digest the ...

Kiss and Tell Hersheys SP Prediction

Wed, 19 Jun 2013 14:36:51 -0400

Brian Stutland of the Stutland Volatility Group believes that chocolate sales can tell us a great deal about where the market will go next. "Your basic thing that everybody loves is chocolate," Stutland said. "If chocolate sales are falling--if you hate chocolate--you definitely hate real estate or whatever big-ticket purchases you want to make." So to get a jump on the ...

Zimmer Doesnt Like the Way This Looks

Wed, 19 Jun 2013 14:36:50 -0400

No reason has been given yet for the departure of founder and executive chairman George Zimmer, reports CNBC's Courtney Reagan. Zimmer has long been the face of the ...

What to Expect From the Fed

Wed, 19 Jun 2013 14:31:23 -0400

CNBC's Steve Liesman discusses expectations for the Fed; and Kenny Polcari, O'Neil Securities, and CNBC's Bob Pisani, break down how the market is anticipating the ...

Whats Leon Cooperman Buying Now

Wed, 19 Jun 2013 14:31:22 -0400

Leon Cooperman, Omega Advisors chairman & CEO, discusses what he hopes to hear from the Fed later today, adding there are plenty of stocks out there with more attractive yields than 10-year Treasurys. Cooperman also explains why he filed suit against ...

DreamWorks CEOs Really Good Arrangement With Netflix

Wed, 19 Jun 2013 14:31:20 -0400

CNBC's Julia Boorstin speaks to DreamWorks Animation CEO Jeffrey Katzenberg, about his company's partnership with the Chinese government, and its deal with ...

Bernanke wont blow up bond market

Wed, 19 Jun 2013 14:30:26 -0400

The Federal Reserve may not be the big bad wolf of the bond market, despite what some say. FORTUNE -- The last of the economy's Band-Aids are coming off. The question is how much it will hurt. So far, the answer from the bond market has been quite a lot. Ever since Federal Reserve chairman Ben Bernanke indicated about a month ago that the Fed might slow its bond buying stimulus program, ...

State of the Art Microsoft Office for the iPhone Is Here. Yawn.

Wed, 19 Jun 2013 14:30:00 -0400

Anticlimax (noun) 1. An event or conclusion that is far less important, powerful or striking than expected. 2. The release of Microsoft Office for the iPhone. Office for iPhone is big news, but not because the software is ...

Apple Unveils News Content For TV Service

Wed, 19 Jun 2013 14:28:40 -0400

We no longer check to see whether Sky News displays properly in Internet Explorer version 6 or earlier. To see our content at its best we recommend upgrading if you wish to continue using Internet Explorer or using another browser such ...

Microsoft offers up a bounty for finding bugs in beta

Wed, 19 Jun 2013 14:26:38 -0400

(Credit: Microsoft) Microsoft on Wednesday announced it will launch a "bug bounty" program, designed to stamp out security vulnerabilities in its software before and after its products are launched. The software giant has previously offered as much as $250,000 for security vulnerabilities ...

Exclusive Forest interested in bidding for Irish drugmaker Elan - sources

Wed, 19 Jun 2013 14:23:45 -0400

WASHINGTON - The Federal Reserve on Wednesday said it would keep buying $85 billion in bonds per month and gave no explicit indication that it was close to scaling back the program, despite intense market speculation it could soon start drawing it to a ...

Fed keeps buying bonds at $85 billion monthly pace

Wed, 19 Jun 2013 14:23:45 -0400

WASHINGTON (Reuters) - The Federal Reserve on Wednesday said it would keep buying $85 billion in bonds per month and gave no explicit indication that it was close to scaling back the program, despite intense market speculation it could soon start drawing it to a ...

U.S. banks failed to follow mortgage standards monitor

Wed, 19 Jun 2013 14:23:44 -0400

WASHINGTON (Reuters) - Four of the largest U.S. mortgage servicers failed to adhere to some of the new standards set out in a landmark settlement meant to help consumers facing foreclosure, a court-appointed monitor said on ...

Exclusive Parmalat should cut LAG price by $151 million report to court says

Wed, 19 Jun 2013 14:23:43 -0400

PARMA, Italy (Reuters) - A court-appointed commissioner has recommended Italian dairy group Parmalat cut the price it paid to its parent company Lactalis to acquire its North American cheesemaking division by $151 million, a move that will please minority ...

U.S. judge limits ex-Goldman Sachs executives defense in fraud case

Wed, 19 Jun 2013 14:23:43 -0400

GS.N ) vice president Fabrice Tourre can argue that he was acting on the advice of company lawyers in his defense against charges that he misled ...

Full text of U.S. Fed statement

Wed, 19 Jun 2013 14:19:15 -0400

The Federal Reserve said Wednesday it will maintain the pace of its program to keep long-term interest rates at record lows, but offered a slightly more optimistic outlook for the U.S. economy and job market. Read ...

Fed gives no indication it’s ready to scale back QE

Wed, 19 Jun 2013 14:19:14 -0400

WASHINGTON -- The U.S. Federal Reserve on Wednesday said it would keep buying US$85-billion in bonds per month and gave no explicit indication that it was close to scaling back the program, despite intense market speculation it could soon start drawing it to a close. Describing the economy as expanding moderately, Fed officials cited further improvement in labour market conditions, and noted ...

Loblaw tests out smaller discount grocery store format in Calgary

Wed, 19 Jun 2013 14:19:14 -0400

Canada's largest grocer is trying out a new discount small-store format in a bid to attract more customers in urban areas. Loblaw Cos. Ltd. (TSX:L) said it opened the new 10,000-square foot store a few weeks ago in Calgary. The location, named The Box by No Frills, offers "hard discounts and an everyday low price" on groceries and other merchandise, Sarah Davis, Loblaw's ...

Bombardier books $297-million regional jet order from African carrier

Wed, 19 Jun 2013 14:19:13 -0400

Bombardier Inc. booked an order Wednesday for its regional jets and turboprops from African carrier, Arik Air. The Lagos, Nigeria-based carrier order three of the manufacturer’s CRJ1000s and four Q400 turboprops, valued at $297-million based on list price. It was a welcomed addition to Bombardier’s order book at the Paris Air Show. Until Wednesday, the plane maker had sold three ...

Microsoft Launches Security Bounty Programs for Windows 8.1 and IE 11 Preview

Wed, 19 Jun 2013 14:19:00 -0400

IDG News Service - Microsoft will pay security researchers for finding and reporting vulnerabilities in the preview version of its Internet Explorer 11 (IE 11) browser, for finding novel techniques to bypass exploit mitigations present in Windows 8.1 or later versions and for coming up with new ideas to defend against exploits. The monetary rewards will be paid ...

GM nabs two of top five spots in J.D. Power ranking

Wed, 19 Jun 2013 14:18:07 -0400

(MoneyWatch) General Motors won two of the top five brand rankings for the fewest new-car problems, with GMC second and Chevrolet fifth in the annual J.D. Power Initial Quality Study. That is an unusual showing for a Detroit-based company in a list traditionally dominated by import models, especially Honda and Toyota. Porsche was the top brand, Lexus third and Infiniti fourth. In addition to ...

Best Toilet Papers Wipe Out Top Brands

Wed, 19 Jun 2013 14:16:58 -0400

(Image credit: Amazon.com) Consumer Reports revisited its toilet paper ratings after testing more than two dozen products, naming the worst and best brands. The results may be a surprise to those who think the top national brands are always preferred. Three Walmart products were named in its top five winner’s circle: White Cloud, which is sold only in its stores, and Walmart’s Great ...

Watch Olympian Lolo Jones Complains About Bobsledding Pay

Wed, 19 Jun 2013 14:16:58 -0400

She may have been joking but Allenby and -- -- -- video about her bobsledding paycheck has sparked some backlash. Jones who is a track and field hurdler is also a member of the USA national ...

US STOCKS-Wall St falls after status quo Fed statement

Wed, 19 Jun 2013 14:16:57 -0400

Wed Jun 19, 2013 2:16pm EDT * Fed maintains pace of bond purchases * Adobe, FedEx shares rise after results * Dow, S&P 500 and Nasdaq all fall 0.4 pct By Ryan Vlastelica NEW YORK, June 19 (Reuters) - U.S. stocks fell on Wednesday, with the losses accelerating even after the Federal Reserve said it would hold steady with its monetary policy. The central bank gave no explicit indication that it was ...

RBS Lloyds Barclays account for most of UK capital gap

Wed, 19 Jun 2013 14:16:43 -0400

Apollo Tyres battled bankruptcy that had wiped out its entire capital base when the co started operations in the late 70s followed by a series of broken tech pacts. Read ...

Western Pa. guardsman sues claiming Target fired him as no show during 2-week training stint

Wed, 19 Jun 2013 13:39:52 -0400

Target Corp., saying he was wrongly fired from one of the chain's Pittsburgh-area stores for violating its "no-call, no-show" policy while he was on a two-week training assignment in Virginia. Andrew Lanier claims in the federal lawsuit filed Wednesday in Pittsburgh that he told his supervisors about the training duty in October 2011 only to be told when he returned that he was ...

World Food Prize goes to 3 biotech researchers who made genetically modified plants possible

Wed, 19 Jun 2013 13:39:51 -0400

DES MOINES, Iowa -- This year's World Food Prize is going to a Belgian scientist and two researchers in the United States for their innovations that brought the world genetically modified crops. The prize organizers say the technology that allows for the stable transfer of genes into plant cells has improved yields, resistance to insects and disease, and tolerance of extreme climate ...

FBI director urges caution by Congress before making any changes to NSA programs

Wed, 19 Jun 2013 13:39:50 -0400

WASHINGTON -- FBI Director Robert Mueller is cautioning Congress to give careful consideration before making any changes to the National Security Agency programs for mass collection of people's phone records and information from the Internet. In an appearance before the Senate Judiciary Committee, the FBI director says there are 10 or 12 cases in which the phone records program contributed ...

Porsche GMC top survey of vehicle quality overall scores hit by glitches with tech features

Wed, 19 Jun 2013 13:39:49 -0400

DETROIT -- Porsche is the top performer in an annual survey of new vehicle quality. J.D. Power questioned more than 83,000 U.S. car owners about problems with their 2013 vehicles in the first 90 days of ownership. In the results released Wednesday, Porsche, GMC, Lexus, Infiniti and Chevrolet owners reported the fewest problems. The worst performing brands were Scion, Fiat, Mitsubishi, Nissan ...

CORRECTED-AIRSHOW-New Eurofighter chief aims to make jet cheaper

Wed, 19 Jun 2013 13:37:10 -0400

Wed Jun 19, 2013 1:37pm EDT (Corrects that EADS is representative of German and Spanish interests, not France and Spain in para 6) PARIS, June 19 (Reuters) - The new chief of the Eurofighter Typhoon will lay out plans by the end of this year to make the fighter jet cheaper and decision-making quicker, as the aircraft gears up to vie for more business in an increasingly crowded and competitive ...

Currencies Dollar broadly lower ahead of Fed outlook

Wed, 19 Jun 2013 13:34:41 -0400

NEW YORK (MarketWatch) -- The U.S. dollar fell against most rivals, including the Japanese yen, on Wednesday ahead of highly anticipated guidance from the U.S. Federal Reserve on what it plans to do with its bond-buying ...

Bond Report Treasurys edge lower ahead of Fed meeting

Wed, 19 Jun 2013 13:34:40 -0400

NEW YORK (MarketWatch) -- Treasurys took a weaker tone on Wednesday as investors waited for the Federal Reserve's policy statement and Fed Chairman Ben Bernanke's news ...

Ian Livingstons government career may be short-lived

Wed, 19 Jun 2013 13:31:22 -0400

Why does Livingston want to be an unpaid trade minister ? We will have to take him at his word: he regards the post as an honour and he is tempted by the chance to try something new. Fair enough. The interesting question is what he does after being trade minister, especially if he's out of job after the election in May 2015. He is 48 and clearly ambitious. A quiet life in ...

Decline and fall how American society unravelled

Wed, 19 Jun 2013 13:31:20 -0400

Thirty years ago, the old deal that held US society together started to unwind, with social cohesion sacrificed to greed. Was it an inevitable process - or was it engineered by self-interested ...

United Utilities and Severn Trent hit by downgrades as markets await Bernanke

Wed, 19 Jun 2013 13:31:20 -0400

, 69p lower at 16.96, saw their shares go ex-dividend. But both were also hit by negative comments from RBC Capital Markets.On United, analyst John Musk issued an underperform rating and cut his target price from 680p to 650p, suggesting its dividends were at risk and it was facing a harsher regulatory environment. He ...

Microsoft Bug Bounty Program Puts Big Bucks On The Line

Wed, 19 Jun 2013 13:30:52 -0400

new bug bounty program that could pay as much as $150,000 for a single exploit. Last year, Microsoft launched a novel approach to the bounty concept with ...

Microsoft Finally Offers To Pay Hackers For Security Bugs With $100000 Bounty

Wed, 19 Jun 2013 13:30:52 -0400

Vasilis Pappas claiming his $200,000 reward for developing a new hacking defense at Microsoft's Blue Hat Prize event last year. Now Microsoft is adding ongoing bounties for offensive hacking techniques, too. For years, Microsoft has refused to offer financial rewards to researchers who tell the company about security flaws in its software, even ...

Bulls Bet On Micron Before Earnings Bears Smell More Blood In Mens Wearhouse

Wed, 19 Jun 2013 13:30:51 -0400

Options traders were snapping up out of the money call options on Micron Technology this morning ahead of the company's third-quarter earnings report after the closing bell today. Shares in the name kicked off the trading session in rally mode, rising as much as 2.6% to a six-year high of $14.11 in the early going, but have since cooled off to $13.80 as of 1:10 p.m. ET. Micron's shares ...

Unilever fails in High Court trademark case

Wed, 19 Jun 2013 13:30:12 -0400

Global consumer goods giant Unilever, which had a worldwide turnover of $86 billion in 2012, has lost a High Court stoush over a trademark in New Zealand. The intellectual property fight involved Unilever and ASX-listed McPherson's Consumer Products. The dispute followed McPherson's applying in 2010 to register "Catwalk" as a trademark for types of goods that included corn planes, blackhead ...

Watch the Feds Economic Forecast for Taper Clues

Wed, 19 Jun 2013 13:28:41 -0400

Federal Reserve officials could carry more weight than usual when traders dissect the Fed's message Wednesday afternoon, and it may provide more clues as to when the Fed could start to wind down its bond ...

Jeep Recall Smaller Than First Sought

Wed, 19 Jun 2013 13:28:40 -0400

About 1.2 million Jeeps originally listed as part of a recall requested by federal safety authorities have been effectively excluded from the compromise ...

Santelli to Fed What Are You Afraid Of

Wed, 19 Jun 2013 13:28:40 -0400

CNBC's Rick Santelli, explains why he hears 'crickets" when he asks questions about Fed Chairman Bernanke's policies. "Enough is enough," he ...

SEC Should Target Individuals

Wed, 19 Jun 2013 13:28:39 -0400

current SEC Chairman Mary Jo White said that this is set to change for some cases. Meanwhile, a former chairman of the SEC, Harvey Pitt, told CNBC that this new development is a good one. However, Pitt thinks ultimately this stricter stance on admission of guilt should eventually be combined with a strategy that focuses more on individuals, instead of primarily going after companies. "I ...

IRS to pay $70M in employee bonuses senator says

Wed, 19 Jun 2013 13:23:33 -0400

The Internal Revenue Service is about to pay $70 million in employee bonuses despite an Obama administration directive to cancel discretionary bonuses because of automatic spending cuts enacted this year, according to a GOP senator. The Internal Revenue Service is about to pay $70 million in employee bonuses despite an Obama administration directive to cancel discretionary bonuses because of ...

Stocks droop as traders await Fed policy signal

Wed, 19 Jun 2013 13:23:33 -0400

52 minutes ago Stocks fluctuated on Wednesday, with global markets trading cautiously, as investors hesitated to jump in ahead of the Federal Reserve's all-important policy statement and Chairman Ben Bernanke's press briefing later in the day. "The press conference can be very important--this would be a good time to elicit some interesting information from the Fed Chairman," ...

Dont Make These Bond Mistakes Gundlach

Wed, 19 Jun 2013 13:23:32 -0400

Bond King Jeffrey Gundlach of DoubleLine Capital explains why he thinks it doesn't pay for investors looking for yield to leave bonds and buy dividend stocks or ...

Gundlach Bonds Will Rally Gold Will Hit New Low

Wed, 19 Jun 2013 13:23:31 -0400

Men's Wearhouse founder George Zimmer defends his position at the company that fired him, reports CNBC's Josh Lipton. Jeffrey Gundlach, DoubleLine Capital, explains why the Fed's tapering program makes him ...

Gundlach Bet on a Most Hated Asset

Wed, 19 Jun 2013 13:23:30 -0400

The Fed will likely signal a reduction of asset purchases, making one investment the best bet in the near future, DoubleLine Capital's Jeff Gundlach ...

Santelli To Hilsenrath Why Do We Still Need QE

Wed, 19 Jun 2013 13:23:28 -0400

Are reporters lobbing "softball" questions at the Fed chairman? CNBC's Rick Santelli and the Wall Street Journal's Jon Hilsenrath, debate whether the economy continues to need quantitative easing. I'm trying to inform the public about what the Fed is ...

Mens Wearhouse icon wont like the way he looks -- hes out

Wed, 19 Jun 2013 13:23:27 -0400

In this May 6, 1999 file photo, George Zimmer, second from left, gestures prior to a meeting, in Oakland, Calif. Men's Wearhouse Inc. says it has dismissed Zimmer, its founder and executive chairman. Men's Wearhouse has fired George Zimmer, its bearded executive chairman famous for his TV ad line: "You're going to like the way you look. I guarantee it."The announcement ...

News Corp spinoffs start preliminary trading

Wed, 19 Jun 2013 13:15:52 -0400

(Reuters) - News Corp's publishing and entertainment arms began trading separately on a preliminary basis on Wednesday, one of the last steps before Rupert Murdoch's company officially splits in two on June ...

Skys the limit for civil drones

Wed, 19 Jun 2013 13:15:40 -0400

According to the European Commission, there are more than 400 projects across 20 European countries to develop civil unmanned aerial vehicles (UAV) ranging from some weighing just a few grams to others the size of an Airbus A320 ...

Porsche plaintiffs bolstered by court ruling lawyer

Wed, 19 Jun 2013 13:15:40 -0400

A logo is seen on a wheel of a Porsche 911 Carrera 4S ahead of the annual news conference at the Porsche headquarters in Stuttgart March 15, ...

Energy Stocks Energy stocks gain modestly ahead of Fed

Wed, 19 Jun 2013 13:13:25 -0400

SAN FRANCISCO (MarketWatch) -- Energy stocks inched higher on Wednesday, going against the broad U.S. equity markets as investors awaited word from the U.S. Federal ...

Wall Street all eyes on the Fed

Wed, 19 Jun 2013 13:12:54 -0400

Federal Reserve will say about the U.S. economy and the central bank's huge stimulus program this afternoon. The U.S. central bank will release its latest policy update at 2 p.m. Eastern Daylight Time and Bernanke will speak at a press conference thirty minutes later. Comments by Bernanke last month suggesting the central bank may soon ease that support unsettled investors and caused this ...

U.S. needs oil sands as surge from shale bonanza seen overdone

Wed, 19 Jun 2013 13:11:03 -0400

The U.S. will continue to need crude from Canada's oil sands because rising production from its shale formations is too expensive to maintain. Increased crude output from U.S. shale isn't "sustainable production," Mike Tims, chairman of Canadian investment bank Peters & Co., said yesterday at a Bloomberg energy forum in Calgary. Producers need to invest too much to ...

Air Canada has array of choices to replace narrow-body fleet

Wed, 19 Jun 2013 13:11:03 -0400

The 50th International Paris Air Show is being held from June 17 -23. The Financial Post’s Scott Deveau is in Paris this week to cover the event. Read his first dispatch ...

Poloz follows Carney as he urges businesses to start spending

Wed, 19 Jun 2013 13:11:02 -0400

OTTAWA -- Stephen Poloz stepped carefully into the public spotlight Wednesday, ostensibly to begin laying the foundation of his stewardship of the Bank of Canada but offering few concrete ideas to set him apart from his ...

Did President Obama ‘essentially fire’ his head banker on national TV

Wed, 19 Jun 2013 13:11:01 -0400

President Barack Obama was showing Ben Bernanke the door with his comments this week, observers say, and that could mean tapering will begin sooner rather than ...

BG Group looking to partner up for proposed West Coast LNG project

Wed, 19 Jun 2013 13:11:00 -0400

CALGARY - The U.K.'s BG Group PLC says it expects to own less than 50% of a liquefied natural gas project proposed for Canada's West Coast. BG this week applied to Canada's National Energy Board to export up to 21.6 million tonnes of super-cooled gas per year, or roughly 2.9 billion cubic feet a day, from a proposed LNG terminal on Ridley Island near Prince Rupert, British ...