Latest Breaking Business News
RSS-
SandRidge Energy Ousts Founder
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
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
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 ...
More Breaking Business News
RSS-
Fed will keep pedal to metal on economic stimulus for now
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 ...
-
Federal Reserve Hints At Slowing Bond Purchases
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) ...
-
Xbox 180 Microsoft Fully Reverses Xbox Ones DRM Policies
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 ...
-
ITEX Toronto wins award for outstanding performance
Toronto, Ontario – June 19, 2013 ITEX in Toronto, Canada'se leading business bartering network, announced Wednesday it has earned three awards for outstanding performance, leadership ...
-
SandRidge CEO Tom Ward ousted Bennett takes job
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
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
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
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
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
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
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
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
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
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
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
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
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
(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 ...
-
GOP lawmaker says his opposition to state budget isnt a surprise
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
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 ...
-
2 ex-BP employees face new indictments in federal probe of massive Gulf oil spill
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
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 ...
-
Jabil Circuit Profit Down Sees Q4 Earnings Below Street
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 ...
Toronto Digest
-
Toronto's historical hospital due for upgrade
Toronto East General Hospital is undergoing a massive redevelopment and expansion plan that aims to update the tired facility, which is one of the oldest in the city.
Toronto East General Hospital was opened in 1929 and has been in continual operation ever since, located at 825 Coxwell Avenue in the capital of Ontario, the hospital is a community teaching hospital and has a bed capacity of 470. It treated over 60,000 people in its emergency room last year and provided in-patient care to over 19,000 people. Read more
News from around our Network
