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Business - Visa cuts revenue forecast as cross-border transactions slow

Visa Inc, the world`s largest credit and debit card company, cut its revenue forecast for the year, as growth in cross-border transactions slowed amid a strengthening of the U.S. dollar. Visa, which gets about 60 percent of its total transaction volume from outside the United States, cut its full-year revenue growth forecast to 9-10 percent from 10-11 percent. International transaction revenue rose less than 1 percent to $854 million in the latest quarter. Wedbush Securities Inc analyst Gil Luria said Visa`s international transaction revenues was growing at the lowest rate since the financial crisis.

Thursday, July 24, 2014  23:48


Business - Dodd-Frank at Four

On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act became law. As with human 4-year-olds, the party parents throw may be a little duller than on the first birthday, but the toddler now appreciates the present in the box more than the box itself. Let`s look at what`s in the box.

Friday, July 25, 2014  04:01


Europe - Anthony Smith, Explorer With Zest for Land, Sea and Air, Is Dead at 88

Mr. Smith`s many adventures included a late-life, 66-day odyssey across the Atlantic on a raft.

Friday, July 25, 2014  03:47


Europe - In an Ancestral Town, De Blasio Is Celebrated

A second ancestral visit for New York City mayor whose grandmother left Italy 111 years ago.

Friday, July 25, 2014  02:54


World - Over half of China military airfields threatened by high-rises

More than half of China`s military airfields have flight paths that are obstructed by tall buildings, causing accidents and airport closures, Chinese state media reported on Friday. Nearly 100 accidents have occurred at military air bases due to high-rise buildings and development in the past 20 years, the website of the ruling Communist Party`s mouthpiece, the People`s Daily said. The problem has become so great that more than 10 military airfields have been forced to close or move. `With the continuous expansion of the scale of cities, a relatively large number of military air bases have merged with new city districts and development zones, leading to a deterioration in clean airspace,` the website said.

Friday, July 25, 2014  05:47


NBA - Mavs sign former All-Star guard Jameer Nelson

Mavericks sign former All-Star point guard Jameer Nelson, who spent 10 seasons with Orlando

Friday, July 25, 2014  04:41


Business - General Motors may put Brazil workers on paid leave: union

General Motors Co wants to put nearly a fifth of its workers at a factory in Brazil on paid leave, an auto workers union said on Thursday, amid falling output in Latin America`s largest economy. Calling the move `unnecessary,` the union said 1,000 of 5,200 workers in São José dos Campos, Sao Paulo state, could be laid off. Workers and the Detroit-based auto maker will likely discuss the proposal on Aug. 1, a union leader said. Brazil`s production of cars, trucks and buses is expected to have its steepest decline in 16 years at 10.0 percent in 2014 as sales retreat 5.4 percent, according to national automakers` association Anfavea.

Friday, July 25, 2014  00:54


NBA - Mavs sign former All-Star PG Jameer Nelson

Mavericks sign former All-Star point guard Jameer Nelson, who spent 10 seasons with Orlando

Friday, July 25, 2014  00:14


Business - Amazon`s heavy investing eats into bottom line, shares drop

By Deepa Seetharaman SAN FRANCISCO (Reuters) - Inc posted a much larger-than-expected loss in the second quarter as it continues its rapid pace of investment in new businesses such as digital content and consumer electronics. Amazon`s stock price has dropped 10 percent so far in 2014, with investors leery of betting on its long-term growth at the expense of little to no profit. Amazon is investing heavily in new businesses and hardware products, as it prepares to take on major tech rivals from Apple Inc and Google Inc to Netflix. Chief Financial Officer Tom Szkutak said Amazon had a `tremendous amount of opportunities` and its investments were `certainly impacting short-term results.` The company is spending more than $100 million on original video content in the third quarter, a substantial increase compared to last year and the second quarter, Szkutak said.

Thursday, July 24, 2014  23:21


Business - BSkyB to pay $8 billion to create Sky Europe

Britain`s BSkyB has agreed to pay around 4.9 billion pounds ($8.3 billion) to buy Rupert Murdoch`s pay-TV assets in Germany and Italy, responding to the slowing growth at home with a deal to create a European media powerhouse. BSkyB, 39-percent owned by Rupert Murdoch`s 21st Century Fox, will pay for the deal with cash, debt and by a placing of shares that represents around 10 percent of the firm`s issued share capital. BSkyB said under the deal it would pay 2.45 billion pounds for Sky Italia and 2.9 billion pounds for Fox`s 57 percent stake in Sky Deutschland to create a combined group with nearly 20 million customers. The payment for Sky Italia will be made up of cash and BSkyB`s stake in the National Geographic Channel.

Friday, July 25, 2014  07:34

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