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Market - Meet CNNMoney`s new Tech 30 stock index


CNNMoney has created a portfolio of the 30 most important technology stocks on the planet that you can track every day.


Saturday, August 02, 2014  03:45

Yahoo

World - U.S. FDA says `stands ready` to work with companies developing Ebola drugs


By Julie Steenhuysen CHICAGO (Reuters) - The worst Ebola outbreak in history is heaping new pressure on U.S. regulators to speed the development of treatments for the deadly virus, which has killed more than 700 people since February. The U.S. Food and Drug Administration on Friday said in an emailed statement the agency `stands ready` to work with companies and investigators working with patients `in dire need of treatment.` A senior official within FDA told Reuters the agency would consider proposals for providing treatments under special emergency new drug applications, if the benefits of the treatment outweighed the potential safety risks. FDA`s statement follow calls by doctors fed up by the lack of progress on Ebola treatments, a market deemed too small to gain much attention by large pharmaceutical companies. Earlier this month, the agency put a hold on a Tekmira Pharmaceuticals Corp clinical trial of TKM-Ebola, one of the few Ebola treatments advanced enough to be tested in people.


Saturday, August 02, 2014  02:52

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World - Barclays first-half net profit soars 68% amid restructuring


Britain`s scandal-hit Barclays bank posted a 68-percent jump in first-half net profits on Wednesday, as it pushed ahead with a major restructuring that will shrink its investment bank division. Earnings after taxation surged to £1.13 billion ($1.9 billion, 1.4 billion euros) in the six months to June, from £671 million a year earlier, Barclays said in a results statement. Barclays, which has been plagued by a series of scandals in recent years, added that it was buoyed by its personal and corporate banking and its credit card unit, amid a major group-wide restructuring. Adjusted pre-tax profits however sank seven percent to £3.349 billion in the first half, hit by a 46-percent slump at its investment banking operations.


Wednesday, July 30, 2014  09:38

Yahoo

World - Barclays says first-half net profit soars to £1.13 bn


Britain`s scandal-hit Barclays bank posted a 68-percent jump in first-half net profits on Wednesday, as it pushed ahead with a major restructuring that will shrink its investment bank division. Earnings after taxation surged to £1.13 billion ($1.9 billion, 1.4 billion euros) in the six months to June, from £671 million a year earlier, Barclays said in a results statement. Barclays, which has been plagued by a series of scandals in recent years, added that it was buoyed by its personal and corporate banking and its credit card unit, amid a major group-wide restructuring. Adjusted pre-tax profits however sank seven percent to £3.349 billion in the first half, hit by a 46-percent slump at its investment banking operations.


Wednesday, July 30, 2014  08:58

Yahoo

World - Lloyds bank fined £218m over Libor rigging


Britain`s Lloyds Banking Group is to pay £218 million ($370 million, 276 million euros) in fines to British and US regulators for attempting to rig inter-bank lending rates, the bank said Monday. `LBG announces that it has reached settlements totalling £218 million to resolve with UK and US federal authorities legacy issues regarding the manipulation several years ago of group companies` submissions to the British Bankers` Association (BBA) London Interbank Offered Rate (LIBOR) and Sterling Repo Rate,` it said in a brief statement. The Libor scandal erupted two years ago when British bank Barclays was fined £290 million by British and US regulators for attempted manipulation of Libor and Euribor interbank rates between 2005 and 2009.


Monday, July 28, 2014  14:33

Yahoo

Business - China brands beat global rivals with tea toothpaste & pickled plums


By Adam Jourdan and Clare Baldwin SHANGHAI/HONG KONG (Reuters) - With green-tea flavored toothpaste and pickled plum juice, an army of Chinese retailers is tapping local tastes to whittle away market share from global rivals that are banking their future growth on the world`s second-largest consumer market. Senior executives at companies such as The Coca-Cola Co , Procter & Gamble Co and Colgate-Palmolive Co are being forced to adapt as the challenge posed by local firms intensifies in a slowing economy. Last year, China`s 1.15 billion yuan ($185.31 million) consumer goods market grew at 7.4 percent annually, half the rate of three years ago, according to a report this month from Bain & Company and Kantar World Panel. In this tougher market, both local and foreign brands are targeting the same customers, and increasingly, the domestic firms are winning: nearly two-thirds of foreign brands surveyed lost market share in China last year, according to the report.


Tuesday, July 29, 2014  00:06

Yahoo

World - Eastbourne to get £2 million boost after pier fire


Eastbourne will receive £2million in government funding to help its tourism industry recover after its historic pier went up in flames, Downing Street said Friday. The southern English seaside town saw its Grade-II listed Victorian pier reduced to a charred shell following the blaze on Wednesday, which took 80 firefighters to extinguish. Prime Minister David Cameron, who was set to visit the pier Friday, said: `I know that the loss of one of Eastbourne`s most prominent and well-loved landmarks will have hit the town hard and I am determined to do all I can to help local businesses recover.` He said an extra £3 million was also being put into the government`s Coastal Communities Fund to support tourism, regenerate historic sites and build new flood defences.


Friday, August 01, 2014  10:23

Yahoo

World - Barclays says first-half net profit soars to £1.13bn


London (AFP) - Barclays said Wednesday that first-half net profits surged 68 percent, despite a poor performance at its investment banking division.


Wednesday, July 30, 2014  07:52

Yahoo

Business - U.S. job growth cools, unemployment rate rises to 6.2 percent


By Lucia Mutikani WASHINGTON (Reuters) - U.S. job growth slowed more than expected in July and†an unexpected rise in the unemployment rate pointed to some slack in the labor market that could give the Federal Reserve room to keep interest rates low for a while. Nonfarm payrolls increased 209,000 last month after surging by 298,000 in June, the Labor Department said on Friday. July marked the sixth straight month that employment has expanded by more than 200,000 jobs, a stretch last seen in 1997. The one tenth of a percentage point increase in the unemployment rate to 6.2 percent came as more people entered the labor market, a sign of confidence in the job market.


Friday, August 01, 2014  13:45

Yahoo

Business - Fed nods to firmer prices yet still focused on labor weakness


By Michael Flaherty and Jason Lange WASHINGTON (Reuters) - The Federal Reserve on Wednesday reaffirmed it was in no rush to raise interest rates, even as it upgraded its assessment of the U.S. economy and expressed some comfort that inflation was moving up toward its target. After a two-day meeting, Fed policymakers took note of both faster economic growth and a decline in the unemployment rate, but expressed concern about remaining slack in the labor market. `Labor market conditions improved, with the unemployment rate declining further,` the Fed said in a statement. `However, a range of labor market indicators suggests that there remains significant underutilization of labor resources.` The reference confirmed that the central bank believes there is still a ways to go before benchmark borrowing costs need to move higher despite an improving outlook for jobs and prices.


Wednesday, July 30, 2014  22:34

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