Latest Breaking Business News
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Blogging platform Tumblr acquired by Yahoo for $1.1 bn
NEW YORK - Yahoo promised "not to screw it up" as it formally announced its acquisition of the popular Tumblr blogging platform for $1.1bn in cash, giving the company a much-needed base in social media to reach a younger generation of users. The relaxed wording of the memo for one of the internet giant's biggest acquisitions was echoed in the memo sent by David Karp, Tumblr's 26-year-old ...
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US drugmaker Actavis buying Warner Chilcott in $8.5bn deal
WASHINGTON/ DUBLIN - Actavis Inc, the largest US generic drug maker by market value, is acquiring Dublin-based Warner Chilcott in a deal worth $8.5billion (5.6billion pounds) including $3billion net debt, to create the third-biggest specialty pharmaceutical company in the country. Under the deal, Actavis, which itself has been the subject of bid speculation, would be offering $5billion in ...
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Bombardier unveils Challenger 350 mid sized business jet
GENEVA - Canadian aeroplane maker Bombardier has expanded its leading Challenger family of business jets with the launch of the new Challenger 350 aircraft in collaboration with global leader in private aviation, US firm NetJets. The launch on Monday was held at a special event here at the European Business Aviation Conference and Exhibition (EBACE). Bombardier said deliveries of the ...
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$254mn Eskom wind power project gets South African regulator's nod
JOHANNESBURG - The National Energy Regulator of South Africa (Nersa) has granted power producer Eskom a licence for its Sere wind farm in the Western Cape, paving the way for the company to start construction of its $254.3 million (R2.4-billion) project. Sere is the Nama word for "cool breeze". The wind farm project is scheduled to become fully commercially operational by the end of ...
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Morgan Stanley India to sell wealth management arm to StanChart
MUMBAI - The UK based Standard Chartered (StanChart) Monday announced plans to acquire the Indian private wealth management business of US multinational financial services firm Morgan Stanley for an undisclosed amount as part of plans to expand operations. The acquisition is subject to regulatory approvals. "Standard Chartered India has agreed to acquire Morgan Stanley's onshore private ...
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Construction begins on new island off Jumeirah Beach in Dubai
Work began on Monday on the development of a man-made island in Dubai, 500 metres directly opposite the Jumeirah Beach Residence complex. To be known as Bluewaters Island, the new development will house five star hotels and resorts, al fresco dining and entertainment zones, and residential apartments and villas. The focal point of the island city, which will cost $1.6 billion, will be a 688 ...
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Hackers take on Financial Times web site
Britain's Financial Times was hacked last week by a mysterious group calling itself the Syrian Electronic Army. The newspaper's technology blog was hacked to display a slogan saying: "Hacked by the Syrian Electronic Army." Several Twitter feeds run by the Financial Times were also plastered with similar slogans. The FT later said its blogs and social media accounts had been compromised ...
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The close Wall St. near flat correction worry rises
U.S. stocks ended little changed on Monday with indexes hovering near record levels as concerns about a correction cut earlier gains that were boosted by acquisition activities.Based on the latest available data, the Dow Jones industrial average declined 19.12 points, or 0.12 per cent, to finish unofficially at 15,335.28. The Standard & Poor's 500 Index slipped 1.18 points, or 0.07 per ...
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Tricare keeps changes to UnitedHealthcare military plan in place
UnitedHealth care Military & Veterans' delivery of medical care to service members and retirees. The government will continue an automatic referral and approval process for specialized care, because of UnitedHealthcare's difficulty in providing timely care for certain service members, military retirees and their families. That service is "still not to the point where ...
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High crop prices entice farmers to expand planting into old golf courses wildlife preserves
BIGGSVILLE, Ill. - Clark Kelly plans to spend a lot of time on the links this spring. The Illinois farmer is plowing the Hend-Co-Hills Golf Course near tiny Biggsville into a cornfield. He's not the only one turning over soil in unlikely places. Across the Midwest, farmers are planting crops on almost any scrap of available land to take advantage of consistently high corn and soybean ...
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Hijackings on the high seas
Fighters against piracy reached a milestone on May 10. A year had passed since the last hijacking, when Somali pirates took a Greek tanker carrying 135,000 tons of fuel oil. The Smyrni and her crew of 26 were released 10 months later after a record ransom payment. According to the International Maritime Bureau, an organization that fights shipping crime, five ships and 71 sailors are still in ...
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Acadia added to Nasdaq biotech index
The index tracks performance of selected biotech or pharmaceutical stocks traded on Nasdaq. Acadia trades at a market value of about $1.1 billion, making it one of San Diego's largest biotech companies by that ...
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JPMorgan might dump Bloomberg chat feature
JPMorgan Chase is mulling a new online chat system to replace Bloomberg LP’s instant-messaging function amid concerns about a privacy breach, The Post has learned.JPMorgan is eyeing a chat service that is still the early stages of development and is a collaboration between Thomson Reuters and data provider Markit, sources said. Several big banks are toying with offering their workers a ...
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With New Xbox Microsoft Makes A Bigger Play For Living Room
An Xbox 360 video presentation at the E3 Media and Business Summit in Los Angeles in 2008. Microsoft is scheduled to introduce its newest Xbox on ...
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After Hours Urban Outfitters slips in after-hours trade
SAN FRANCISCO (MarketWatch) -- Urban Outfitters fell in after-hours trade Monday after its fiscal first-quarter sales came up short of expectations, while TiVo posted a slight gain as its quarterly loss was smaller than ...
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Can Microsofts Xbox Get Hollywood To Help Reinvent Gaming
Xbox will be a technological wonder. The game console will likely connect to other devices. It'll feature that utterly cool hands-free Kinect controller, which may let users wave in the air to communicate online with friends, change TV stations, write texts, or do other marvelous cross-platform things. But I worry it won't matter, because the gaming world doesn't have a hardware ...
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SAC Settlement Talks Off After Subpoena
Settlement talks between SAC Capital and the federal government, which could have led to a pact preventing criminal charges against founder Steven Cohen, are off after Cohen was issued a subpoena by prosecutors last week. That news may prompt outside investors in the embattled hedge fund, including the Blackstone Group, to accelerate yanking additional capital.As recently as May 13, SAC ...
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Conn. Rail Commuters Told to Stay Home
Thousands of Connecticut commuters faced delays and crowded trains on Monday as Metro-North workers scrambled to repair damage on the United States' busiest rail line, caused by the collision of two trains. Connecticut Gov. Dannel Malloy said commuters should expect "serious disruptions" throughout the week and encouraged riders to stay home if possible. On Friday evening, a ...
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Microsofts Xbox 720 reveal Who what when where ...
The light is coming from Redmond, where on Tuesday Microsoft will "reveal" the third version of its Xbox in a high-voltage news conference that will broadcast around the world. Here's my viewer's guide to ...
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MS Appoints Frenchman To Top Marketing Job
Marks & Spencer (M&S), Britain's biggest clothing retailer, is to appoint a Frenchman to spearhead its marketing strategy as it fights to turn around flagging clothing sales. I have learnt that the company, led by Dutchman Marc Bolland, will announce tomorrow the appointment of Patrick Bousquet-Chavanne, a former Estee Lauder executive, as its new marketing director. Mr ...
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Merck Coca-Cola top decliners in Dow industrials
terms of use . Historical and current end-of-day data provided by SIX Financial Information. Intraday data delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc. All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More information ...
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TECH STOCKS Yahoos Deal For Tumblr Heads Techs Day
SAN FRANCISCO – Yahoo Inc. took the tech-sector spotlight Monday, with its $1.1 billion acquisition of blogging-service operator Tumblr seen as a potential gamble by Chief Executive Marissa Mayer in her attempts to reinvigorate the one-time Internet pioneer.Yahoo (YHOO) shares ended the day up 6 cents at $26.58 following a conference call in which Mayer promised that Yahoo wouldn't ...
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Plains Exploration Shareholders Approve Freeport-McMoRan Deal
Plains Exploration & Production Co.'s (PXP) shareholders Monday approved a $6.5 billion merger with Freeport-McMoRan Copper & Gold Inc. (FCX), overcoming earlier pressure to reject the deal.The deal gives Phoenix-based mining company Freeport-McMoRan sizeable assets in the booming U.S. oil and natural gas production business. But market analysts questioned whether the companies ...
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MARKET SNAPSHOT U.S. Stocks Drop Retreating From All-time Highs
SAN FRANCISCO – U.S. stocks finished lower on Monday after comments from Chicago Federal Reserve President Charles Evans knocked them from new all-time highs set earlier in the day.The S&P 500 index (SPX) finished down 1.18 points, or 0.1%, at 1,666.29, after touching a new high of 1,672.84 during the session.Energy posted the largest gains of the index's 10 major industry groups ...
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Copper Gains on Mine Stoppage Despite China Property Worries
Copper futures climbed on Monday as a supply disruption from a major mine outweighed worries about Beijing's efforts to cool Chinese property prices.The most actively traded contract, for July delivery, rose 3.7 cents, or 1.1%, to settle at $3.36 a pound on the Comex division of the New York Mercantile Exchange.The world's third-largest open-pit copper mine, Grasberg, remained shut ...
Salt Lake City Feature
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Downtown Salt Lake City redevelopment
Salt Lake’s downtown area has, like many major cities across the US, deteriorated in recent decades as businesses and homeowners have moved out into the suburbs, but now, even in the midst of one of the worst real estate crisis in recent history, a number of major Salt Lake City developers are turning the tide.
Salt Lake City will have an entirely different downtown area in the next few years as major residential and mixed-use developments and new condominiums come online. Well over 1000 residential units are under construction or in the planning stages with major developments such as the City Creek Project leading the new trend. Read more
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