Breaking Business News
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Dalian Wanda Group to buy UK yacht maker and hotel property
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% ...
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Lundbeck and several drug firms fined for pact to delay generic drugs
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 ...
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2.7 mn Jeeps to be recalled by Chrysler over concerns on fuel tanks
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 ...
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Settlement monitor faults four largest US mortgage servicers for lapses
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 ...
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Spain urged to pursue further reforms to generate growth and jobs
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 ...
Movie Review
Breakdown
Some movies have such good set-ups, that they are virtually assured to be something of a let-down when it comes time for the follow-through. Jonathan Mostow's "Breakdown" is such a movie. The opening is very reminiscent of the superior Dutch thriller "The Vanishing" (later remade by the same director into a thoroughly disappointing American film), where a husband and wife are on a trip, and the wi ... ...
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Yahoo follows Facebook and Microsoft in publishing US govt sought snoop data
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 ...
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Emeco cuts earnings forecast again
Shares in mining equipment supplier Emeco Holdings have fallen sharply today to a four-and-a-half year low after the company downgraded its profit forecast for the second time in two months. The company said it expects to report an operating profit after tax in the range of $35 to $36 million, for the year to June ...
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Minnesota Poll Confidence in personal finances up sharply
A new Minnesota Poll shows that 61 percent of Minnesotans rated their financial situation as good or excellent in June, a huge jump from February, when 45 percent gave their finances positive marks. An additional 29 percent rated their finances as fair, while 8 percent said their finances are ...
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$1000 genome a mirage
Years of talk about cutting the price of sequencing a human genome to $1,000 has made one prominent genomics guru more than a little cranky. Mick ...
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2 3Ds now 1 Stratasys buys MakerBot
Brooklyn-based MakerBot hit the jackpot.The 3D-printer maker, which just opened fancy waterfront industrial digs, was acquired by another giant in the industry, Stratasys.MakerBot, co-founded by Bre Pettis, sold for more than $400 million. Stratasys is paying for the merger by issuing 4.76 million new shares.The deal includes incentives for another $200 million in earn-outs.MakerBot, which is ...