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- Foxconn chairman pledges to raise pay in China, invest in Hainan
- China publishes draft rules to improve IPO mechanism
- Brazil spots new oil leak as safety worries rise
- After grad job slump, big hiring is back at U.S. colleges
- Japan to support U.S. nominee to head World Bank
- Mixed signals from China's factories in March
- DBS boss Gupta faces biggest challenge in Indonesia
- South Korea March exports fall; U.S. shipments up on FTA
- Euro zone agrees to boost rescue capacity
- Fed's Kocherlakota sees 2.3 percent inflation in 2013
- GM faces huge costs if Bochum plant shut: works leader
- Fed's Kocherlakota sees 2.3 percent inflation in 2013
- 675 Russian fishermen rescued from drifting ice
- UK Internet group: Surveillance program in works
- Fire-stricken cruise ship safe at Malaysian port
- 'Hunger Games' earns $61.1M to top 'Titans' sequel
- Tribune Broadcasting: No deal reached with DirecTV
- Obama's insurance requirement not the only mandate
- China says manufacturing rises again in March
- Tribune Broadcasting says no DirecTV deal
- World landmarks dimmed for Earth Hour
Foxconn chairman pledges to raise pay in China, invest in Hainan Posted: BOAO, China (Reuters) - Foxconn Technology Group will keep on increasing worker salaries in China and cutting the hours of work, Chairman Terry Gou said on Sunday, after it came under fire for poor working conditions for employees making Apple iPhones and iPads. As part of its efforts to relieve the pressure on its existing factories in Chinese cities such as Shenzhen and Chengdu, Gou said Foxconn would be building high-tech manufacturing facilities in Hainan, as well as expanding operations in Brazil. ... |
China publishes draft rules to improve IPO mechanism Posted: SHANGHAI/BEIJING (Reuters) - The China Securities Regulatory Commission (CSRC) published on Sunday draft rules aimed at increasing the liquidity of newly-listed shares and monitoring pricings for initial public offers in an attempt to curb speculative trading and regain investor confidence. CSRC plans to scrap the three-month lock-up period for institutional investors in domestic initial public offerings and increase the scrutiny of IPOs that are priced at more than 25 percent above the comparable value of industry peers. ... |
Brazil spots new oil leak as safety worries rise Posted: BRASILIA (Reuters) - Brazilian authorities identified a small oil leak off the shores of Rio de Janeiro on Saturday, the latest in a series of spills that has raised safety concerns over the development of some of the world's largest petroleum reserves. The latest oil leak comes days after a Brazilian prosecutor said he is widening a probe into offshore oil operations in the wake of a 3,000-barrel spill in an offshore field run by Chevron in November. The new leak, which stretches for 1. ... |
After grad job slump, big hiring is back at U.S. colleges Posted: NEW YORK (Reuters) - Sean Chua expected the hunt for his first job after college to be tough. After all, he watched his brother struggle to find a position when he graduated back in 2008. But his fears were unwarranted. The 21-year-old justice major at American University sent out only seven resumes before getting an offer earlier this month from IBM for an IT consulting job, making him a beneficiary of a turnaround in the labor market for U.S. graduates. "My mom's first position was with IBM so she is particularly proud," says Chua. ... |
Japan to support U.S. nominee to head World Bank Posted: TOKYO (Reuters) - Japan will support Jim Yong Kim, the U.S. nominee for the next World Bank head, Japanese Finance Minister Jun Azumi said on Sunday after meeting the candidate who is in Tokyo on his world tour to seek support for the candidacy. Kim, a Korean-American, will be contesting against two nominees from emerging market countries - Nigerian Finance Minister Ngozi Okonjo-Iweala and former Colombian Finance Minister Jose Antonio Ocampo - for the Washington-based institution's top job. ... |
Mixed signals from China's factories in March Posted: BEIJING (Reuters) - China's big factories were surprisingly busy in March as a stream of new orders lifted activity to an 11-month high, but credit-constrained smaller manufacturers struggled, suggesting that the economy is still losing steam. The pickup in production at large factories was attributed to an expected bump as winter ends, and economists cautioned not to read too much into the stronger-than-expected figure. ... |
DBS boss Gupta faces biggest challenge in Indonesia Posted: SINGAPORE (Reuters) - After two years of hard work to improve Singapore's largest bank and lift its underperforming Hong Kong unit, DBS Group chief executive Piyush Gupta is embarking on his biggest challenge yet - a bid for Indonesia's Bank Danamon . Gupta, 52, a graduate of the prestigious Indian Institute of Management, joined DBS in November 2009 from Citigroup where he was last head of Southeast Asia and Australasia. ... |
South Korea March exports fall; U.S. shipments up on FTA Posted: SEOUL (Reuters) - South Korean exports in March fell 1.4 percent from a year ago, missing a consensus forecast for a small gain and adding to questions about the strength of a global recovery even with a boost to shipments in the first month of a landmark free trade pact with the United States. Shipments to the United States jumped nearly 28 percent thanks to the free trade agreement, but weak sales to the other big markets such as China and the European Union clouded prospects, data published on Sunday showed. ... |
Euro zone agrees to boost rescue capacity Posted: COPENHAGEN (Reuters) - Euro zone finance ministers agreed on Friday to increase their financial firewall to 700 billion euros to ward off a new flare-up of Europe's sovereign debt crisis, drawing a positive initial reaction from G20 partners and markets. The 17-nation currency area agreed to combine two rescue funds to make 500 billion euros of new funds available in case of emergency until mid-2013, on top of 200 billion euros already committed to bailouts for Greece, Ireland and Portugal. ... |
Fed's Kocherlakota sees 2.3 percent inflation in 2013 Posted: EVANSTON, Illinois (Reuters) - U.S. inflation will be above the Federal Reserve's 2 percent target next year, Minneapolis Fed President Narayana Kocherlakota said on Saturday, suggesting he sees pressure building for the central bank to lift interest rates. "I'm expecting inflation to be 2 percent this year, and 2.3 percent next year," Kocherlakota told the Midwest Economics Association's annual meeting. The Fed has kept U.S. short-term borrowing costs near zero for more than three years, and its policy-setting panel has said it expects to need to keep them there through late 2014. ... |
GM faces huge costs if Bochum plant shut: works leader Posted: Bochum, Germany (Reuters) - Labor leaders at loss-making European car maker Opel have warned parent company General Motors that closing one of its oldest factories in Germany would be massively costly and damage the company's image. "This would cost GM billions," Rainer Einenkel, head of the Bochum plant's works council said at a news conference on Saturday following a staff town hall meeting in the western German city of Bochum. ... |
Fed's Kocherlakota sees 2.3 percent inflation in 2013 Posted: EVANSTON, Illinois (Reuters) - U.S. inflation will be above the Federal Reserve's 2 percent target next year, Minneapolis Fed President Narayana Kocherlakota predicted on Saturday, suggesting he sees pressure building for the central bank to lift interest rates. "I'm expecting inflation to be 2 percent this year, and 2.3 percent next year," Kocherlakota told the Midwest Economics Association's annual meeting. The Fed has kept U.S. short-term borrowing costs near zero for more than three years, and its policy-setting panel has said it expects to need to keep them there through late 2014. ... |
675 Russian fishermen rescued from drifting ice Posted: Russia's emergency services rescued 675 fishermen on Sunday from an ice floe that was drifting out to sea in the far east of the country. |
UK Internet group: Surveillance program in works Posted: Every email to your child. Every status update for your friends. Every message to your mistress. |
Fire-stricken cruise ship safe at Malaysian port Posted: |
'Hunger Games' earns $61.1M to top 'Titans' sequel Posted: |
Tribune Broadcasting: No deal reached with DirecTV Posted: |
Obama's insurance requirement not the only mandate Posted: |
China says manufacturing rises again in March Posted: Chinese manufacturing gained momentum for a fourth straight month in March, helped by a recovery in the auto, tobacco and electronics sectors, though analysts said conflicting data suggest lingering weakness. |
Tribune Broadcasting says no DirecTV deal Posted: |
World landmarks dimmed for Earth Hour Posted: |
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