Being an entrepreneur is one of the greatest experiences we can have. It is also one of the hardest and most difficult to embrace. The absence of the once secure bi-weekly paycheck and the uncertainty of any decision in the name of the project constantly puts us on the edge.But venturing out on your own is rewarding. Every project, job,...
MOSCOW (AP) — Having for months dismissed Western sanctions on Russia as toothless, business leaders here are now afraid that the downing of the Malaysian jetliner will bring about an international isolation that will cause serious and lasting economic damage.
By Rodrigo Campos NEW YORK (Reuters) - Disappointing earnings from Amazon and Visa dragged U.S. stocks lower in afternoon trading on Friday in a broad selloff led by consumer discretionary shares. Amazon tumbled 10.3 percent to $320.70 after reporting an unexpectedly big loss for the second quarter, citing greater expenses on investments. We had a series of good reports but Amazon in particular was a disappointment and has led to some profit taking,” said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey. Amazon dragged on the consumer discretionary sector , which lost 1.1 percent.
By Kate Holton and Leila Abboud LONDON/PARIS (Reuters) - Britain's BSkyB has agreed to pay $9 billion to buy Rupert Murdoch's pay-TV companies in Germany and Italy, taking its hunt for growth into Europe by creating a media powerhouse with 20 million customers. BSkyB, in which Murdoch's 21st Century Fox is also the largest shareholder, will pay for the deal using cash, debt, its stake in a TV channel and a placing of shares that represents around 10 percent of its issued share capital. The deal, which makes BSkyB the leading pay-TV provider in Europe, adds to a flurry of consolidation in the global media sector as traditional entertainment companies seek to bulk up to compete against more nimble Internet rivals.
A business unit of Citigroup will pay $5 million to settle civil charges that one of its private trading venues violated federal law by failing to protect clients' confidential trading data, U.S. regulators said on Friday. The Securities and Exchange Commission said the unit, LavaFlow Inc, is settling the case without admitting or denying the charges. The LavaFlow trading venue failed to put adequate safeguards and procedures in place to protect its subscribers' confidential trading information from March 2008 through March 2011, the SEC said in a statement. Another Citigroup affiliate was able to access LavaFlow's subscribers' confidential trading information to decide where to route certain orders, the regulator said.
A former Ford Motor Co engineer is being investigated by the FBI after listening devices were found in meeting rooms at company offices, the automaker said on Friday. "Ford initiated an investigation of a now former employee and requested the assistance of the FBI," said Susan Krusel, a Ford spokeswoman. The Detroit News reported that the FBI seized listening devices, computers and financial records in a July 11 search of company offices.
By Lucia Mutikani WASHINGTON (Reuters) - A mixed reading on the health of U.S. business investment on Friday suggested the economy may not have rebounded as strongly in the second quarter as previously believed, but it offered hope for the rest of 2014. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, rebounded 1.4 percent after declining 1.2 percent the prior month, the Commerce Department said. Core capital goods shipments are used to calculate equipment spending in the government's gross domestic product measurement. "The weak performance in core capital goods shipments during the quarter suggests that this segment of the economy is unlikely to contribute much to economic activity," said Millan Mulraine, deputy chief economist at TD Securities in New York.
By Maria Kiselyova and Olga Sichkar MOSCOW (Reuters) - McDonald's burgers and shakes may become the latest victims of worsening ties between Moscow and Washington after a Russian consumer watchdog agency accused the U.S. chain of sanitary violations. McDonald's Corp , which opened its first Russian restaurant in Moscow in 1990, became an iconic symbol of flourishing American capitalism during the fall of the Soviet Union.
WEST BRIDGEWATER, Mass. (AP) — It's been called a David vs. Goliath story, a "Tale of Two Arthurs" and even the "ultimate Greek tragedy," but the characters in this drama are not Biblical or literary figures. They're grocery store owners.
By Richard Lough and Alejandro Lifschitz BUENOS AIRES (Reuters) - Argentina stressed on Friday that it was impossible to fulfill a U.S. court ruling ordering full payment to "holdout" investors suing the country but said a deal needed to avert a default on its debt is still possible. Argentina is staring down the barrel of a second default in 12 years if it is unable, before a July 30 deadline, to reach an agreement with the holdouts, New York hedge funds. U.S. District Judge Thomas Griesa on Tuesday ordered that Argentine officials meet continuously with the holdouts, whom the government portrays as "vultures" picking over the carcass of its $100 billion default in 2002. "With the good faith of the vulture funds and a rational attitude from Griesa, this litigation can be resolved," Argentine cabinet chief Jorge Capitanich told reporters.
In just three short years Paddle8 an innovative marketplace infusing technology and art has held hundreds auctions with over $100MM in bidding activity and raising over $25MM for charities. They've quickly expanded their reach with members and bidders from hundreds of countries and they are also setting records with their most expensive work,...
(Reuters) - Japan's Mazda Motor Corp will broaden a recall of cars sold in the United States because an air-bag inflator, supplied by Japan's Takata Corp , could rupture and seriously injure occupants. The issue of ruptured inflators - which can hurl metal shrapnel at vehicle occupants - has bedeviled Takata and triggered the recall of millions of vehicles last year. In a filing Friday by the U.S. National Highway Traffic Safety Administration, Mazda said it would recall about 18,000 older models, including 18,000 Mazda6 sedans and 50 RX-8 sports cars from 2003-2004. NHTSA said the inflator could rupture, "with metal fragments striking and potentially seriously injuring" occupants.
(Reuters) - Xerox Corp reported a 2 percent fall in second-quarter revenue, hurt by lower demand in its printing business. Net income attributable to Xerox fell to $266 million, or 22 cents per share, for the quarter ended June 30, from $271 million, or 21 cents per share, a year earlier. Revenue fell to $5.29 billion from $5.39 billion a year earlier. Revenue from its printing business, which accounts for 40 percent of total revenue, fell 6 percent. (Reporting by Soham Chatterjee in Bangalore; Editing by Savio D'Souza)
(Reuters) - John Malone's Liberty Media Corp started the process of spinning off its cable assets through a stock dividend to its shareholders to form a new listed company called Liberty Broadband. Liberty Broadband, in a regulatory filing, said on Friday the stock dividend would be worth up to $4.8 billion and Malone would retain a voting interest of 47.3 percent. Liberty Media shares were up 2 percent in premarket trading. Liberty Media intends to offer its shareholders one share in the spun-off company for every four shares held, Liberty Broadband said.
The government has already started selling off shares in its state-backed rival Lloyds Banking Group, but RBS's privatization was considered by banking and political sources to be three to five years away despite drastic cost-cuts, asset sales and the shrinking of its investment bank. Britain pumped 45.5 billion pounds into the bank during the 2008/09 financial crisis, leaving the government with an 81 percent stake and taxpayers are still sitting on a paper loss of 11.7 billion pounds. RBS's second-quarter numbers far exceeded analysts' expectations, prompting the bank to report a week early, and sent its shares soaring 13.5 percent to 373 pence at 1030GMT - on course for their biggest one-day gain since April 2009. Though some of those analysts may now alter their view on the bank, new Chief Executive Ross McEwan, who took over from Stephen Hester in October 2013, sounded a note of caution, pointing out that RBS is still dealing with significant problems from its past.