Latest Breaking Business News
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June 28 to see News Corp split into two companies
WASHINGTON - Rupert Murdoch's News Corporation Friday announced the planned separation of the $76-billion conglomerate into two distinct publicly traded companies, with one to be renamed 21st Century Fox and the publishing firm to retain the News Corp brand. The split has been formally approved by the Board of Directors. The Company announced appointments to the Boards of Directors of both ...
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Audit records of Chinese firms to be made accessible to US regulators
BEIJING - Chinese regulators Friday announced that they have signed a memorandum of understanding with their US counterparts giving American authorities increased access to documents from Chinese audit firms. The signing of the MOU between China Securities Regulatory Commission (CSRC), the Ministry of Finance (MOF) and the US Public Company Accounting Oversight Board (PCAOB) is a significant ...
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Investments being sought by Croatia for oil exploration in Adriatic Sea
ZAGREB/LONDON - Croatia, soon to become the 28th member of the European Union,- is looking to undiscovered oil and gas fields in the Adriatic Sea to revive its ailing economy, according to the country's president. Ivo Josipovic told CNN that Croatia is searching for partners in the energy sector to help reveal oil and gas "green fields" in the waters that separate the Balkan nations and ...
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Fan fiction authors to find platform on Amazon
WASHINGTON - Amazon, the largest online retailer of books, movies, music and games, Friday offered its Kindle e-book platform to fan fiction authors to sell some of their work. Fan fiction is literature inspired by popular books, shows, movies, comics, music, and games. Publication outside of blogs and online fanzines is often difficult because of copyright issues. Amazon Publishing has ...
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Central bank of China to push forward market oriented reforms
BEIJING - China is planning to steadily push forward market-oriented reform in its interest rates and exchange rates mechanisms this year as part of the financial sector reforms to better serve the real economy, a central bank report said on Friday. The "China Financial Stability Report (2013) released by the People's Bank of China stressed that it would be steadily promoting the interest ...
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IMF warns UK against continuing austerity programme
LONDON - In a critique of the United Kingdom's austerity programme, the International Monetary Fund Wednesday urged the Europe's third largest economy to rebalance the policy to make the transition to a high-investment and more export-oriented economy. "The UK could boost growth by bringing forward measures already included in its fiscal plan, such as spending on infrastructure and job ...
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Downtown East in Minneapolis poised for second chance
The $400 million project and the $975 million stadium now in the works have created a buzz that maybe -- finally -- Downtown East will attract residential development that could help transform the area in a way that the Metrodome never did more than 30 years after its ...
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China sees wider role for private business
Chinese Prime Minister Li Keqiang reacts at the end of a press conference after the signing ceremony of several agreements between Switzerland and China, in Kehrsatz near Bern, Switzerland, Friday, May 24, 2013. Chinese Premier Li Keqiang is in Switzerland to seal a free trade pact with the Alpine nation ? the first comprehensive agreement his country has reached with a major western economy. Li ...
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St. John’s sells NYC campus
St. John’s University agreed to sell its lower Manhattan campus to a group including developer Steven Witkoff and property investor Fisher Brothers, which plan to build condominiums there. Selling the property at 101 Murray St. will give the university a "major infusion of capital," President Donald Harrington said yesterday. Proceeds will be used for student financial aid, ...
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Kid gloves for hedgie
Women working in the hedge-fund world know how hard it is for them to get ahead.That could explain why so few of them were willing to speak out against hedge fund legend Paul Tudor Jones, whose recent comments that having babies turns women into lousy traders kicked off a storm of controversy on Thursday. Hedgie women sprang to the defense of Jones, 58, who founded Tudor Investment Corp. in ...
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News Corp. bd. OKs split
News Corp. said its board approved a plan to split the company’s entertainment and publishing assets into separate companies. The company expects to complete the split by June 28. The board also authorized a $500 million stock-repurchase program for the new publishing company, which will retain the News Corp. name. News Corp. owns The Post. The company said it would book a pretax charge of ...
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No InterOil delivery could burn Paulson
While he’s still licking his wounds from the Sino-Forest scandal, hedge-fund titan John Paulson has waded into another controversial stock. The founder of $18 billion Paulson & Co. scooped up 1.87 million shares of InterOil Corp. in the first quarter, making him the company’s eighth-largest shareholder, with a stake worth roughly $160 million. InterOil has been touting its access ...
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$20M pay won’t fly
The US is opposing American Airlines’ proposal for $20 million severance pay to CEO Tom Horton as part of its merger with US Airways Group. It violates bankruptcy law, the Justice Dept. said yesterday in a New York court ...
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Yahoo joins the $1B hunt for Hulu
Yahoo! has jumped into the bidding for Web video destination Hulu, The Post has learned. Sources close to the process say the bid from Yahoo!, along with offers from a handful of other suitors, value Hulu at upward of a billion dollars. If Yahoo prevails, it would be CEO Marissa Mayer’s second $1 billion deal inside a month. The company just acquired micro-blogging service Tumblr for $1.1 ...
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US stocks remain weak on track for weekly loss
US stocks remained weak in midday trading on Friday, extending losses for the third straight day despite better-than-expected US durable goods data for April.The three major indices are on track for its first weekly decline after four weeks of gains.In the previous trading day, the major stock indices closed lower for a second consecutive day following a dramatic slump in the Japanese stock ...
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Microsoft Reveals The Xbox One
Microsoft promises the Xbox One will be more than just a game console, but a "living room" with a TV tuner and cable box. Users will be able to switch between watching TV and gaming instantly through the Kinect ...
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Key Government Projects At Risk Of Failure
Dozens of major Government projects including the High Speed 2 rail line, Universal Credit welfare reform and the rollout of high-speed broadband are at serious risk of failure, Whitehall documents reveal. There are 23 schemes which have had amber/red warning flags raised against them in the report, meaning successful delivery of the project is in doubt and urgent action needs to be taken to ...
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YouTube Users Turning Clicks Into Cash
Not long ago, a Top 10 hit on iTunes wouldn't have been possible without the backing of a major record company, but social media has changed the rules. Lanzarote-based Irish singer-songwriter Rory Gallagher embraced this change and made it to number one in the charts after one of his songs was leaked online. Jimmy's Winning Matches became an overnight viral sensation on YouTube, ...
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Chinese premier criticizes EU move on trade measures
Chinese Premier Li Keqiang speaks during a joint news conference with Pakistan's President Asif Ali Zardari (not in picture) at President House in Islamabad May 22, ...
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Minnesota farmers recover from late planting start
Despite a winter that never seemed to end, Minnesota farmers are going into Memorial Day weekend with a good percentage of their crop planted -- a better outcome than feared a month ...
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Target other retailers sue credit card firms
NEW YORK - Target Corp., Macy's Inc. and 15 other retailers sued Visa Inc. and MasterCard Inc. over credit card and debit card fees after dropping out of a multibillion-dollar settlement of a similar case. The biggest U.S. payment card firms illegally restrained competition for interchange fees by setting default rates and imposing almost identical rules for accepting cards, the retailers ...
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Insurers submit plans for Minnesota health care exchange
Consumers buying health care coverage this fall on Minnesota's new insurance exchange likely will have more choices than are currently available, bringing a spark of competition as health reform rolls out in the months ...
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Wall Street snaps four-week winning streak
U.S. stocks were traded almost flat Friday to end the week lower, snapping a four-week gaining streak amid worries that the Federal Reserve may reduce its stimulus program in ...
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Lobbying in American-US Airways deal focuses on small cities
AAMRQ.PK ), seeking approval for a merger that would create the world's largest airline, are warning lawmakers that a requirement to divest certain airport slots would lead to less service for small and medium-sized cities, sources close to the effort told ...
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As grocers restaurants bicker many U.S. menus still lack calorie counts
The Food and Drug Administration hopes to have the regulations in place later this year. Restaurants would likely have six months from then to ...
Colorado Report
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Colorado's green future
Colorado’s economy suffered through the downturn like every other state in the country, but as the national economy enters a period of recovery, which started towards the beginning of the year, the state continues to falter, while using much-needed federal grants to lay the groundwork for future, greener, industries.
Colorado has had to cut $2 billion from its state budget since the Great Recession hit in late 2008. The fiscal year for 2010-11, which starts July 1st, will see further cuts from the state budget of over $200 million. Education has seen the biggest cuts, along with many building and expansion projects to various state facilities and public infrastructure being delayed. Read more
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