Today's Reuters Business News Headlines - Yahoo! News:
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Data of 8.7 million KT subscribers hacked in South Korea
Sat,28 Jul 2012 09:43 PM PDT
Reuters -  SEOUL (Reuters) - KT Corp., South Korea's No. 2 wireless service provider, apologized on Sunday after personal data of millions of mobile phone subscribers was hacked. It is the latest in a string of large-scale personal information hacking cases in one of the world's most wired countries. Police said two computer programmers had been arrested for hacking personal data of about 8.7 million KT subscribers. KT claims a mobile service subscription membership of 16 million. ...
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Apple, Twitter not currently in discussions for stake: sources
Sat,28 Jul 2012 01:24 PM PDT
Reuters -  SAN FRANCISCO (Reuters) - Apple Inc and Twitter are currently not in discussions on the mobile technology giant taking a stake in the popular social networking site, sources familiar with the matter said. Apple in recent months has held negotiations with Twitter to explore investing hundreds of millions of dollars in the company, The New York Times reported on Friday, citing people briefed on the matter. The Wall Street Journal said such discussion were held over a year ago, citing a person familiar with the matter. ...
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London Olympics opening watched by record 40.7 million Americans
Sat,28 Jul 2012 11:43 AM PDT
Reuters -  LOS ANGELES (Reuters) - A record 40.7 million Americans watched NBC television's coverage of the 2012 Olympics opening ceremony, making it the most-watched Summer Games opening, NBC said on Saturday. NBC said the audience for the London ceremony was six million more than for the opening ceremonies from Beijing in 2008, and also beat the 39.8 million audience for the Atlanta Olympic Games in 1996. U.S. viewers had to wait up to seven hours on Friday to watch the London ceremony after NBC decided not to stream it live and to delay its broadcast until the prime time evening hours. ...
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CNN chief Walton to leave network
Sat,28 Jul 2012 11:25 AM PDT
Reuters -  (Reuters) - CNN Worldwide President Jim Walton said on Friday that he was leaving the once-dominant cable news network, which has struggled in the ratings in recent years, on December 31. A search will begin immediately for a new president, the network said. "CNN needs new thinking. That starts with a new leader who brings a different perspective, different experiences and a new plan," Walton, who had been president of CNN since 2003, said in a memo. ...
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Bernanke, Geithner response to Libor scandal rings hollow
Sat,28 Jul 2012 09:49 AM PDT
Reuters -  WASHINGTON (Reuters) - Ben Bernanke heads the most powerful central bank in the world. Yet the Federal Reserve chairman says he was largely powerless to stop what some are calling the biggest financial fraud in history: the systematic manipulation of a key global interest rate. It's a line of argument that has fallen flat with some lawmakers and investors, who want to know why Bernanke and other key U.S. regulators did not do more to end a potentially criminal rigging of interest rates affecting trillions of dollars in financial contracts. ...
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Britain to flesh out framework for Libor review
Sat,28 Jul 2012 09:49 AM PDT
Reuters - LONDON (Reuters) - Britain's government is expected to spell out on Monday the scope of a root and branch reform of Libor, the interest rate benchmark that was rigged by Barclays in a widening scandal that has damaged London's standing as a finance center. The UK Treasury is set to announce the remit for a review of the rate at which banks are willing to lend to one other that is being carried out by Martin Wheatley, a top official at the UK's Financial Services Authority regulator. Wheatley will look at how Libor is set and whether it should be based in future on actual transactions. ... Full Story | Top |
Italy business lobby sees urgent need for euro bank union
Sat,28 Jul 2012 09:04 AM PDT
Reuters - MILAN (Reuters) - Italy's biggest business lobby called on Saturday for quick implementation of a European Union summit decision last month to create a banking union, as credit in Italy and other peripheral euro-zone countries dries up. "The euro-zone bank union must be implemented more quickly than what was decided at end June, with supervision and risks joined together and direct recapitalization of banks by the EFSF-ESM funds," Confindustria research body CSC said in a study. ... Full Story | Top |
At least three banks seen central to Libor rigging
Sat,28 Jul 2012 06:46 AM PDT
Reuters -  (Reuters) - New details from court documents and sources close to the Libor scandal investigation suggest that groups of traders working at three major European banks were heavily involved in rigging global benchmark interest rates. Some of those traders, including one who used to work at Barclays Plc in New York, still have senior positions on Wall Street trading desks. Until now, most of the attention has involved traders at Barclays, which last month reached a $453 million settlement with U.S. and UK authorities for its role in the manipulation of rates. ...
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SEC alleges insider trading ahead of CNOOC-Nexen deal
Sat,28 Jul 2012 02:56 AM PDT
Reuters -  WASHINGTON (Reuters) - The U.S. securities regulator filed a complaint in court on Friday against a firm controlled by a Chinese billionaire and other traders, accusing them of making over $13 million from insider trading ahead of a bid by China's CNOOC for Canadian oil company Nexen Inc. The Securities and Exchange Commission said the federal court in Manhattan had frozen assets worth over $38 million belonging to Hong Kong-based Well Advantage, controlled by businessman Zhang Zhirong, and other unnamed traders who used accounts in Hong Kong and Singapore to trade in Nexen stock. ...
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Wall St rallies on stimulus hopes
Sat,28 Jul 2012 02:13 AM PDT
Reuters -  NEW YORK (Reuters) - U.S. stocks surged on Friday, driving the S&P 500 to its highest level since May 4 as hopes increased that the Federal Reserve and the European Central Bank may provide further stimulus. The Dow Jones industrial average shot up 187.95 points, or 1.46 percent, to end unofficially at 13,075.88. The Standard & Poor's 500 Index gained 25.96 points, or 1.91 percent, to finish unofficially at 1,385.98. The Nasdaq Composite Index climbed 64.84 points, or 2.24 percent, to close unofficially at 2,958.09. For the week, the Dow rose 2 percent, the S&P 500 gained 1. ...
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Tanzania tells mining companies to pay 30 pct corporate tax
Sat,28 Jul 2012 01:15 AM PDT
Reuters -  DODOMA (Reuters) - Tanzania, Africa's fourth largest gold producer, has told mining companies operating for more than five years to start paying a corporate tax of 30 percent, citing rising prices of precious metals at the world market. Tanzania's gold export earnings rose 31 percent last year to $1.879 billion from $1.436 billion a year before on higher world prices for the commodity, Sospeter Muhongo, energy and minerals minister, told parliament on Friday. ...
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Gas-rich Tanzania plans to raise royalties
Sat,28 Jul 2012 01:14 AM PDT
Reuters - DODOMA, Tanzania (Reuters) - Tanzania plans to raise royalties on gas and demand signature bonuses for energy contracts as the east African nation tries to secure bigger benefits from major offshore discoveries. Tanzania recently tripled its estimated gas reserves and is fast becoming a regional energy hub after finds by Norwegian oil company Statoil, U.S. group ExxonMobil and Britain's BG Group and its partner Ophir Energy. Energy and Minerals Minister Sospeter Muhongo said royalties on gas production would rise from 12. ... Full Story | Top |
Reliance may invest nearly $1 billion in aerospace business: paper
Fri,27 Jul 2012 11:40 PM PDT
Reuters -  NEW DELHI (Reuters) - Reliance Industries , India's third-most valuable company, is expected to invest close to $1 billion over the next few years in its aerospace division, the Economic Times reported on Saturday, citing unnamed executives close to the matter. The company, controlled by India's richest man Mukesh Ambani, may hire about 1,500 people and collaborate with global players to bring sophisticated civil and military aerospace technologies to India, the paper said. A Reliance Industries spokesman declined comment, when contacted by Reuters. ...
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"Modern Family" cast reaches deal for new contracts
Fri,27 Jul 2012 11:12 PM PDT
Reuters -  LOS ANGELES (Reuters) - Stars of the hit ABC comedy "Modern Family" agreed to new contracts on Friday, ending a dispute that erupted in public just as the show prepared to start work on a fourth season. Show creator Steve Levitan said the six adult cast members who had recently sued ABC had reached a deal with 20th Century Fox Television, the studio that produces the show. A Fox spokesman also confirmed the news. "We're very happy. We can't wait to get started Monday morning," Levitan told reporters at a meeting of TV critics in Beverly Hills. ...
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BHP Billiton likely to delay Olympic Dam $30b expansion decision: report
Fri,27 Jul 2012 09:33 PM PDT
Reuters -  SYDNEY (Reuters) - BHP Billiton (BHP.AX) (BLT.L) is likely to delay a decision on a $30 billion proposed expansion of the Olympic dam mine in South Australia, a newspaper said, months after it scrapped a capital spending plan citing tough economic conditions. A decision by the world's biggest miner on whether to proceed with the proposed expansion of its copper and uranium mine will not be made until 2014 rather than by the end of this year, as previously stated by the company, the Australian reported on Saturday, citing documents it had obtained. ...
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