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Canada threatens to retaliate against change in US meat labeling rules
OTTAWA - Canada has threatened "retaliatory measures" against the United States move changing the so-called country of origin labeling that would track beef and hogs through the meat processing and distribution systems, stating that it is discriminatory, a view shared by the World Trade Organisation. On Thursday, the United States Department of Agriculture issued a final modification to its ...
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After breaches Twitter beefs up security with two-step login
NEW YORK - Aiming to tackle recent high-profile breaches, popular micro-blogging site Twitter is introducing an optional two-step login for users to beef up security. The new system would try to ensure "it's really you" when a user signs in to Twitter, which transmits some 400 million messages a day. The move follows recent attacks into the twitter accounts of news organisations' such as ...
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Irish biotech firm Elan rejects revised Royalty Pharma bid
DUBLIN/ WASHINGTON Ireland-based biotechnology firm Elan Thursday rejected Royalty Pharma's increased $6.4 billion takeover bid, shortly after the U.S. firm cut the acceptance bar for its latest offer to 50 percent plus one share. Royalty raised its hostile cash bid to $12.50 per share on Monday, from $11.25 previously, but made the new offer conditional on Elan shareholders rejecting, at a ...
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Import alert by USFDA hits Wockhardt shares
MUMBAI - Shares of Wockhardt, one of the leading Indian pharmaceutical and biotechnology companies, witnessed a sharp fall of 20% to Rs. 1,315 ($23.61) on the Bombay Stock Exchange(BSE) on Thursday after the US FDA published an import alert on one of its three manufacturing facilities near Aurangabad. The import alert, 'detention without physical examination of drugs from firms which have ...
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Ford Motor to shutdown 2 units in Australia
MELBOURNE - Ford Motor Company Wednesday announced plans of closing its local manufacturing operations in Broadmeadows and Geelong in October 2016 thereby forcing 1,200 people out of work. Spelling the end of the iconic Ford Falcon in the country, Ford Australia president Bob Graziano announced that the carmaker would shut its Victorian facilities in October 2016, bringing an end to nearly ...
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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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Chidambaram says U.S. Federal Reserves statement misunderstood calls for calm
Finance Minister P. Chidambaram on Thursday sought to calm stock markets in India after Federal Reserve Chairman Ben Bernanke suggested bond purchases could be scaled back if the U.S. economy improves. Addressing a news conference here, Chidambaram said fears that the Federal Reserve would start reversing its U.S. monetary stimulus programme were being misunderstood in stock market and investor ...
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What Central Banks Can Learn From Volatility
If there's one thing the world's central bankers can take away from this week's market volatility, it is that they need to do a better job of communicating, say market watchers. The latest comments from the U.S. Federal Reserve about tapering its stimulus program and uncertainty about the implications of the Bank of Japan's radical monetary policy have sent markets on a ...
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Dealers Hope Memorial Day Sparks Car Sales
After taking a pause in March and April, auto sales appear relatively strong for the month of May. Whether or not the industry ends May with the best monthly sales rate since January depends largely on whether or not dealers enjoy strong business Memorial Day Weekend. If it sales are strong, dealers believe it could signal the start of greater demand in the second half of the year. Analyst Adam ...
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By taking on Apple Microsoft marketing finally nails it
I'd still like to see Microsoft focus more specifically on features of these products that make them better than the competition. Take the Surface commercials for example. I absolutely loved the way Microsoft first introduced us to the product: remember the commercial with the dancing school girls? Loved it. And now the company is running a slightly different twist on that with dancing ...
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FRRs Kurt Busch second in Coca-Cola 600 qualifying Denny Hamlin wins pole
Kurt Busch, driver of the No. 78 Furniture Row Racing Chevrolet, stands on the grid Thursday after qualifying for the Coca-Cola 600 at Charlotte Motor Speedway in Concord, North Carolina. (Jeff Zelevansky, Getty Images) CONCORD, N.C. - Denny Hamlin isn't ready to say he's back, even after winning the pole for the Coca-Cola 600 with a record-setting qualifying lap Thursday night.He said ...
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Bank of England MPC member warns UK faces years of weak growth | Larry Elliott
MPC member Paul Fisher said UK workers had shown a 'quite remarkable' willingness to agree to cuts in real wages. Photograph: Bloomberg via Getty ...
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Finding an appropriate and affordable premises for your business
One of the major issues for growing businesses can be finding the right accommodation. As a business grows, space can become inefficient. However, the move to bigger premises can be costly and daunting, particularly if time and money are tight.Aside from the expense, sourcing the right workspace is not a simple task. Finding the perfect place for your business objectives can be a big job and can ...
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Untapped markets are the key to unlocking social enterprise investment
Salisbury Plain, one of the MoD's training areas, is managed by the company Landmarc which is looking to 'buy social and local'. Photograph: Leon Neal/AFP/Getty ...
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Why are co-operatives such popular places to work
, it is sometimes easy for employees to forget their co-op privileges. She says: "Five years ago, we found from surveys conducted amongst our 10,000 employees [or "colleagues," as they are known] that we'd really been a victim of our own success. Lots of colleagues stay in the company for their entire careers, and don't realise that other companies don't operate in ...
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EU to force country-by-country tax transparency on big companies
Big companies operating in the European Union (EU), beginning with banks, will be forced to provide breakdowns of tax paid country-by-country according to regulations being drafted by Michel Barnier, European commissioner for the internal market and financial ...
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Its a Big Moment for Japan Feds Bullard
The huge volatility in the Japanese market is not surprising given the aggressive monetary policies put in place in the country over the last six months, St Louis Federal Reserve Chairman James Bullard told CNBC. "I wouldn't be surprised with that kind of action over that kind of timeframe that you're going to get some volatility," Bullard said Friday. The policy, which ...
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Private consumption helps Germany to meager growth in Q1
Berlin (Reuters) - Private consumption helped Germany eke out meager economic growth of 0.1 in the first quarter of the year, compensating for declines in exports and investment in Europe's largest economy, data showed on ...
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3i Group Makes Offer to Buy Barclays Infrastructure Fund Management
International investor company 3i Group PLC (III.LN), said Friday that it has made an irrevocable offer to Barclays Bank PLC (BARC.LN), to acquire Barclays Infrastructure Funds Management Ltd or BIFM, its European infrastructure fund management business.MAIN FACTS:-BIFM has assets under management of 780 million pounds and an investment team based in London and Paris.-The proposed transaction is ...
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Foreign selling of dollar sparks Unilever inflows talk
Unilever Plc plans to pay up to $5.4 billion to raise its stake in its Indian subsidiary Hindustan Unilever Ltd. The open offer will open on June 21 and close on July ...
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GLOBAL MARKET-Volatile Nikkei keeps Asian stocks on edge
Fri May 24, 2013 3:45am EDT * Nikkei ends a seesaw day up 0.9 pct * Asian stocks outside Japan dip to 1-month lows * Yen rises vs USD and euro on turbulent Nikkei * European stocks expected to fare better By Ian Chua SYDNEY, May 24 (Reuters) - Asian stocks fell to one-month lows on Friday and the yen rebounded broadly as extreme volatility in the Nikkei kept investors on edge. The Nikkei has ...
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Earthquake Hits Russian Far East
A magnitude 8.2 earthquake struck Russia'a Far East in the Sea of Okhotsk off the Kamchatka Peninsula, according to the U.S. Geological Survey. The epicenter of the quake was located 244 miles west north west of Petropavlovsk-Kamchatskiy at a depth of 385 miles, the USGS said. This story is developing. Please check back for further ...
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Japan’s Nikkei Goes for Wild Ride for Second Day
Japan's stock market witnessed a second-straight day of heightened volatility on Friday, swinging from gains of 3 percent to deep losses before bouncing back again, leaving traders puzzled as to what was going on in Asia's biggest stock market. The Nikkei, which rose about 3 percent in early trade, fell more than 3 percent in the final hour of Tokyo trade before paring those losses. ...
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Choppy Bond Markets Put Japan Banks on Edge
The volatility in the Japanese government debt market has unnerved investors in domestic banks, with some of the country's biggest lenders alone holding an estimated 40 trillion yen ($390 billion) worth of these bonds. A spike on Thursday in the benchmark 10-year Japanese government bond (JGB) yield ...
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HSBC Plans to Sell First Yuan Bond to Be Cleared in Singapore - Sources
HSBC Holdings PLC (HBC) plans to sell the first yuan-denominated bond to be cleared out of Singapore, in a step forward for the city-state which is trying to build itself into an offshore trading hub for the Chinese currency.The U.K. banking giant's plan comes as Singapore is set to kick off its long-anticipated yuan-clearing service Monday, after Beijing in February approved Industrial ...
Kenya Leader
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Kenya leading the world on credit access
Kenya has been hailed by the World Bank as a world leader in financial innovation, revamping its financial services sector in such a way that access for the poor to micro-loans is made easier, providing the means to independence and future prosperity.
Proponents of micro-loans argue that they are a significant means of lifting the poor out of poverty and providing them with the means by which to develop financial independence. When one considers that Kenya has a population in which around 56% of people live below the poverty line, the government’s efforts to increase access to credit and financial services for the poor becomes poignant. Read more
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