Latest Posts
-
News 0
Mazda recalls 215,000 vehicles in US for steering
Mazda Motor Corp will recall 215,000 Mazda 3 and Mazda 5 vehicles sold in the US because of the risk that they could lose power steering without warning. The Mazda recall of vehicles from the 2007 through 2009 model years was announced in a filing with the US National Highway Traffic Safety Administration. Mazda said the vehicles under recall could experience a “sudden loss” of power steering, increasing the risk of a crash. The notification did not detail any incidents. The defect occurs because rust could break lose from a high-pressure pipe, straining the power steering pump and causing the system to shut down, the Japanese automaker s... -
News 0
Australian central bank faces makeover after election
The winner of Australia’s election on Saturday will have the rare opportunity to re-shape the leadership of the central bank, with almost the entire board coming up for reappointment in the next three years. The terms of eight of the nine Reserve Bank of Australia (RBA) board members, including the governor, expire between December and late 2013, leading to talk that the next government could be tempted to pick ideological allies for the posts. Neither side of politics have commented on such a sensitive topic, but the make-up of the next RBA board is arguably more important to the economy than the make-up of the next cabinet and different g... -
News 0
World Bank pledges $900m in flood aid to Pakistan
The World Bank will release $900m to help fund relief efforts for Pakistan’s flood disaster as international agencies warned millions of people were at risk from disease. The UN has warned that up to 3.5 million children could be in danger of contracting deadly diseases carried through contaminated water and insects in a crisis that has disrupted the lives of at least a tenth of Pakistan’s 170 million people. Up to 1,600 people have been killed and two million made homeless in Pakistan’s worst floods in decades. Hundreds of villages across Pakistan, one of the poorest countries in Asia, have been marooned, highways have been cut in half... -
News 0
UK spending cuts risk turning into demolition job
The British government may find it hard to stick to a coherent strategy as ministries scramble to cut spending by up to 40 percent on Treasury orders. Prime Minister David Cameron, who took office in May, says shrinking the record peacetime deficit from 11 percent of GDP to almost nothing within five years is the most urgent task for his Conservative-Liberal Democrat coalition government. A spending review is under way and results will be announced on October 20. Cameron has likened the process to “the methodical turnaround of a failing business”, but there are many sceptics. “Ministers are effectively flying blind, under orders to cut ... -
News 0
Asia, LatAm job market spurs Michael Page profit
Recruiter Michael Page posted a 42 percent rise in first-half pretax profit, boosted by growing demand in Asia and Latin America, defying concerns that a sluggish economic recovery would hit job turnover. Michael Page, which finds jobs for people in financial, accounting and legal services, announced pretax profit up to £61.4m in the six months to June 30 against £43.2m for the same period last year. Chief Executive Steve Ingham said that growth was driven by younger markets in Asia and Latin America and improved ‘churn’ in permanent jobs, whereby more people are feeling confident enough to resign and take on new posts, creating more va... -
News 0
Credit Suisse axes 75
Credit Suisse said it was cutting around 75 jobs in its UK operations, becoming the second investment bank in as many days to slim down as economic fears hit the deal-making business. “We are currently reducing headcount by approximately 75 in the United Kingdom in the investment bank and certain support functions,” the bank has announced. Britain’s Barclays will cut about 400 back office jobs in its investment bank across the world, a person familiar with the matter told reporters. Financial market jitters in the wake of Europe’s debt crisis have hurt income at trading desks, while client caution has depressed fee income from capital... -
News 0
RWE says German nuclear tax would hit dividends
Germany’s RWE, Europe’s fifth-largest utility, warned government plans to introduce a nuclear fuel tax in Germany would keep a lid on its earnings and dividends for years to come. The statement makes RWE the first utility to detail the effects of a tax on the fuels of nuclear power stations, which Berlin plans to claw back profits that power providers made by charging customers for carbon certificates they got for free. “If this plan were to be implemented, it would curtail our earnings power considerably,” RWE Chief Executive Juergen Grossmann said in a statement. Germany’s 17 nuclear power stations, operated by the country’s fou... -
News 0
Bank of Ireland to shake off state support slowly
Bank of Ireland plans to move away cautiously from state support by showing it can raise debt outside a government guarantee and gradually repay taxpayers’ funds over several years, it has announced. Ireland’s biggest bank by market value has become the first major Irish bank to replenish its capital from partly private sources, an exercise which left the state with a 36 percent stake plus preference shares. Its underlying operating profit fell by 32 percent in the first half of 2010 but it said tough conditions were set to stabilise or improve this year with the nascent recovery in its main markets Ireland and the UK. Allied Irish Banks,... -
News 0
Dollar near 15 year low after Fed move
The dollar hovered close to 15-year lows versus the yen but rose against other currencies on August 10 as investors pared back risk exposure in the wake of steps announced by the Federal Reserve to boost the economy. In early European trade, the dollar was up around one percent against the euro and the Australian dollar. The Federal Reserve said it will use cash from maturing mortgage bonds it holds to buy more US government debt, marking a policy shift from a central bank which only a few months ago debated how to start exiting monetary stimulus. US Treasury yields fell in response, reflecting expectations that US interest rates would stay a... -
News 0
TUI Travel warns on FY as budget measures hit UK
Europe’s biggest travel firm TUI Travel said it expected its full-year profit to be at the lower end of expectations after trading was hit by uncertainty among British consumers following June’s emergency budget. TUI Travel, in which Germany’s TUI AG holds a controlling stake of 57.5 percent, also said airspace closures as a result of the ash cloud from an Icelandic volcano had affected bookings and cost it a total of £105m ($168m). “The strong booking trends experienced up until the volcanic ash disruption in mid-April and the subsequent rebound in early May were not sustained throughout the early summer period,” said Chief Execut...
Top Posts
-
The Importance for Individuals to Use Sustainable Chemicals
-
Small Businesses: Finding the Right Candidate for the Job
-
How to Write the Perfect Thank You Letter After Your Job Interview
-
3 Best Large-Cap Blend Mutual Funds For Enticing Returns
-
China suspected in massive breach of federal personnel data
