Business News - The Last 24 Hours

With Money Drying Up, Greece Is All but Bankrupt
New York Times - 31 min 36 sec ago
The government’s call to conserve funds has been far-reaching, with cities sending any surplus cash to Athens, while hospitals and schools face strict orders not to hire people.
RELATED:
BBC - Greece will 'keep up debt repayment' - 4 hours 52 min ago
Reuters - Greece says wants to make debt payments but needs aid urgently - 8 hours 41 min ago
Indiatimes - Greece rules out capital controls if bailout talks fail - 9 hours 55 min ago
Wall Street Journal - European Stocks Down on Greek Debt Fears - 12 hours 26 min ago
New York Times - The Heat Is on Greece’s Alexis Tsipras, From Inside and Out - 22 hours 51 min ago
COMMENTARY:
Zero Hedge - Greece's Problem - 2 hours 59 min ago
The Guardian - Greek PM convenes emergency meeting of his bailout negotiation team - 3 hours 40 min ago
Seeking Alpha - Why Regulating Banks Will Never Work: Greece As A Case Study - 5 hours 13 sec ago
BusinessInsider - Greece to keep repaying creditors as long as it can: official - 9 hours 59 min ago



Greek budget proposals insufficient: IMF's Olivier Blanchard
Indiatimes - 1 hour 10 min ago
Greece was supposed to have a 3% budget surplus this year, but that now looks out of reach, Blanchard said.
RELATED:
Indiatimes - Greek budget proposals insufficient to ensure surplus: IMF - 5 hours 35 min ago
COMMENTARY:
WSJ Blogs - Greece Could Bundle Its Next IMF Payments to Buy Even More Time. But at What Cost? - 7 hours 12 min ago
BusinessInsider - Putin is risking a clash with the IMF over Russia's $3 billion loan to Ukraine - 8 hours 44 min ago



55 top CEOs of Corporate India give Modi govt 7/10
Indiatimes - 1 hour 21 min ago
India Inc captains feel the economy is picking up but a lot remains to be done. Most of them say corruption is down and doing business has become a tad easier. The verdict: Govt has done a good job, but system needs to be shaken harder.
RELATED:
Indiatimes - How FM Jaitley plans to push India's GDP growth to 10% - 14 hours 12 min ago



Google to invest Rs 1,500 crore in new Hyderabad campus
Indiatimes - 1 hour 37 min ago
Google to invest Rs 1,500 crore in new Hyderabad campusThe search giant plans to “focus on three key projects from its upcoming Hyderabad campus, including its super-fast Google Fibre broadband services, Street View and Google Education”.
COMMENTARY:
BusinessInsider - We talked to the guy who made a painting of Google's Eric Schmidt out of poop to find out why - 3 hours 57 min ago



Polish opposition cheers presidential vote win, stock market more wary
Reuters - 2 hours 52 min ago
WARSAW (Reuters) - Poland's main opposition party celebrated its first national election win in a decade on Monday, after its candidate for the presidency unexpectedly defeated incumbent Bronislaw Komorowski.
RELATED:
Indiatimes - One year of Modi Govt: Ambanis down in stock market, Adani up - 9 hours 2 min ago
China Daily - China's P2P lenders dance with bull stock market - 19 hours 13 min ago
COMMENTARY:
Zero Hedge - China Stocks Surge, Europe/US Purge, & Portuguese Bonds Are Crashing - 7 hours 13 min ago



China lodges complaint with U.S. over spy plane flight
Reuters - 2 hours 56 min ago
BEIJING (Reuters) - China said it had lodged a complaint with the United States over a U.S. spy plane that flew over parts of the disputed South China Sea in a diplomatic row that has fuelled tension between the world's two largest economies.
RELATED:
China Daily - China solicits private investors for PPP projects - 11 hours 43 min ago
BBC - China cuts taxes on range of imports - 13 hours 28 min ago
Indiatimes - China to lower import taxes on skincare products, diapers from June 1 - 16 hours 44 min ago



Europe stocks stumble, dollar lifted by U.S rate view
Reuters - 3 hours 5 min ago
LONDON (Reuters) - European shares fell in thin trade on Monday while the dollar powered ahead after U.S. Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates this year.
RELATED:
Indiatimes - Europe stocks stumble, dollar lifted by US rate view - 8 hours 17 min ago
Reuters - Asian shares edge down on U.S. rate hike bets - 20 hours 46 min ago
COMMENTARY:
Zacks - 3 Sector ETFs to Benefit if Rates Drop - ETF News And Commentary - 5 hours 14 min ago



Vodafone India planning to launch IPO next year: Reports
Indiatimes - 3 hours 40 min ago
Vodafone India former MD and CEO Marten Pieters had said that company will proceed with its IPO plan provided that its tax issue is resolved.
RELATED:
Indiatimes - Navkar Corp gets Sebi go-ahead for Rs 600 cr IPO - 7 hours 35 min ago
COMMENTARY:
Zero Hedge - Chinese IPO 826 Times Oversubscribed - 5 hours 38 min ago



Brent oil speculators cut net longs by 13 per cent
Indiatimes - 4 hours 42 min ago
Hedge funds and money managers cut their bets on rising crude oil prices by 13 percent, in the second straight week of cuts, exchange data showed.
RELATED:
Indiatimes - Oil prices steady as firm demand offsets dollar strength - 6 hours 14 min ago
COMMENTARY:
Zero Hedge - Israel Refuses To Pay Old Oil Debt To Iran - 3 hours 43 min ago
Zacks - Will Canada 2Q15 Bank Results Gain from Oil Recovery? - Analyst Blog - 3 hours 49 min ago
BusinessInsider - Africa's economy to strengthen in 2015 despite Ebola, oil price - 4 hours 55 min ago



Learn from China: NGT to Centre on curbing vehicular pollution
Indiatimes - 4 hours 59 min ago
"Why can't you learn from China? Have you gone through the reports how vehicular pollution is controlled in Shanghai city of China," a bench headed by NGT Chairperson Justice Swatanter Kumar said.



Once vilified, BP now getting credit for gulf tourism boom
Indiatimes - 5 hours 43 min ago
Five years after the BP disaster, the petroleum giant that was vilified during heated town hall meetings for killing a way of life is now being praised by some along the coast for spending more than $230 million to help lure visitors back to an area that some feared would die because of the spill.



Dollar in vogue on CPI boost and Yellen's comments, euro weakens
Indiatimes - 6 hours 18 min ago
The dollar hit a one-month high against a basket of major currencies on Monday after stronger-than-expected underlying US inflation bolstered the Federal Reserve's case for an interest rate hike later this year.
RELATED:
Indiatimes - Gold dips as Janet Yellen's comments shore up dollar - 9 hours 35 sec ago
COMMENTARY:
Zero Hedge - Ron Paul Rages: Janet Yellen is Right, She Can’t Predict The Future - 7 hours 44 min ago



Centre to probe Rs 900 crore alleged corruption in Arunachal Pradesh
Indiatimes - 7 hours 57 sec ago
An inquiry has been ordered to look into the allegations of corruption and siphoning off of development-related funds by the Arunachal Pradesh government, Union Minister Jitendra Singh said.
RELATED:
Indiatimes - Modi govt has no moral authority to speak on corruption: Maken - 7 hours 50 min ago
COMMENTARY:
BusinessInsider - Israel ex-PM Olmert gets 8 months for corruption: reports - 15 hours 14 min ago



Itineraries: Uber Closes In on Its Last Frontier: Airports
New York Times - 8 hours 10 min ago
American airport officials know the ride-hailing phenomenon will not recede, and they are rewriting regulations to welcome all manner of cars.



Direct Tax target of Rs 7.98 lakh cr for FY'16 achievable: Das
Indiatimes - 8 hours 37 min ago
The Direct Tax collection target of Rs 7.98 lakh crore for the current financial year is likely to be met on account of improvement in economic growth, government said.
RELATED:
Indiatimes - China cuts import tax on clothes, other goods - 10 hours 49 min ago
China Daily - China slashes import tax on skincare to shoes to spark domestic demand - 12 hours 43 min ago



ECB closing on new England coach
BBC - 8 hours 48 min ago
The England and Wales Cricket Board is in exclusive discussions with a preferred candidate for the role of England coach.
COMMENTARY:
Zero Hedge - ECB's Bizarro QE Taper May Add To Summer Bond Market Volatility, Citi Says - 5 hours 12 min ago
Seeking Alpha - ECB Comments Halt Bond Sell-Off - 6 hours 37 min ago



Facebook the latest US tech giant that Europeans love to hate
Indiatimes - 10 hours 41 min ago
The scrutiny is mounting as the company's messaging and digital advertising services continue to spread globally.
COMMENTARY:
Seeking Alpha - The Monetization Of WhatsApp Will Catalyze Facebook's Stock - 5 hours 7 min ago
Zacks - Facebook Grows User Base, Expands Globally: Time to Invest? - Analyst Blog - 5 hours 54 min ago



Amazon to pay taxes in some European countries
Indiatimes - 10 hours 43 min ago
Amazon reported a 14 per cent rise in European revenue, to 13.6 billion euros, or $15 billion, in 2013, according to company filings.
RELATED:
Indiatimes - Amazon Handmade pitted against Etsy - 22 hours 21 min ago
New York Times - Amazon to Stop Funneling European Sales Through Low-Tax Haven - 23 hours 10 min ago
COMMENTARY:
The Guardian - Amazon and Penguin Random House said to be in dispute - 3 hours 5 min ago



MTN says Nigeria fuel shortages disrupting services
Indiatimes - 11 hours 13 min ago
Africa's largest telecom operator's services have been disrupted by fuel shortages in Nigeria, which is MTN's biggest market
RELATED:
BBC - Nigeria bank to close over fuel - 12 hours 19 min ago



Robot pushes productivity gains at manufacturing hub
China Daily - 11 hours 43 min ago
GUANGZHOU - Productivity in a Southern China manufacturing hub rose 17 percent last year while shedding 6.8 of their labor thanks to the adoption of automation and robots, the municipal government said Sunday. Companies in Dongguan, Guangdong province, began modifying their manufacturing processes ...
COMMENTARY:
Zacks - U.S. Chemical Output Stalls in April on Flat Manufacturing - Analyst Blog - 4 hours 14 min ago



Alibaba denies luxury group's counterfeit claim
China Daily - 12 hours 43 min ago
The logo of Alibaba Group is seen inside the company's headquarters in Hangzhou, Zhejiang province early November 11, 2014. [Photo/Agencies] Alibaba has never produced any fake goods and the complaint accusing the company of knowingly selling counterfeits has no basis, said a s ...
RELATED:
China Daily - Bayern Munich to talk with China's e-commerce giant Alibaba - 13 hours 43 min ago
Indiatimes - Alibaba's latest gambit in fighting fakes: Foster local brands - 19 hours 57 min ago
COMMENTARY:
Seeking Alpha - Why Alibaba Should Buy Yahoo, Right Now - 11 hours 30 min ago



Japan posts trade deficit in April due to weakening yen
Indiatimes - 13 hours 54 min ago
The 53.4 billion yen ($439.6 million) deficit in April for the world's third-biggest economy compared with a 227.4 billion yen surplus in March.
RELATED:
Indiatimes - Japan April exports rise 8.0 per cent year on year - 20 hours 9 min ago



Toyota, Mazda partnership may not impact China production
China Daily - 15 hours 43 min ago
A Mazda rolls off the production line of the marque's joint venture with FAW. Toyota and Mazda Motor Corp announced a long-term partnership that will go beyond project-based industry tie-ups. [Photo/China Daily] Toyota and Mazda last week announced a long-term partnership to sy ...



Goldman Sachs eyes $1 billion investment in Japan
Indiatimes - 16 hours 34 min ago
The latest initiative is part of Goldman's 2012 plan to channel investments totaling $40 billion into renewable energy projects in the next decade.



Ironies abound in housing market
China Daily - 18 hours 13 min ago
It's already reported that China's urban housing market is starting to pick up. A rise in business and in prices is obvious in the first-tier cities-Beijing, Shanghai, Guangzhou and Shenzhen-compared with the previous months. Housing sales in second-tier cities, mainly those at provincial capita ...
COMMENTARY:
Seeking Alpha - U.S. Equity And Economic Review For The Week Of May 18-22; Housing Rebounds But The Markets Continue Grinding, Edition - 3 hours 51 min ago



China, UAE oil firms sign $330m worth oilfield development project
China Daily - 18 hours 13 min ago
ABU DHABI- A subsidiary of China's oil and gas giant signed on Sunday a contract worth $330 million with an onshore petroleum firm in Abu Dhabi, the United Arab Emirate (UAE), for a development project at the UAE's southern Mender oilfield. The joint project between China Petroleum Engineering and ...
RELATED:
China Daily - China crude oil output rises 1.6% - 19 hours 13 min ago
COMMENTARY:
24/7 Wall St. - Oil Refiners Turning Crude Oil Glut into Profits - 7 hours 47 min ago



European Central Bank Expands Mandate as It Struggles to Keep Zone Intact
New York Times - 20 hours 2 min ago
Top central bankers and economists convened this weekend to discuss unemployment and other economic issues that extended beyond the bank’s edict to contain inflation.
COMMENTARY:
Zero Hedge - China Sets Up Gold Investment Fund For Central Banks - 7 hours 54 min ago
Seeking Alpha - The European Central Bank Did More Than Frontload Quantitative Easing - 10 hours 41 min ago



India still looks attractive among EMs: JP Morgan
Indiatimes - 22 hours 18 min ago
India still looks attractive among EMs: JP MorganValuations here are reasonable compared to other EMs such as China, Russia and Brazil, which have rallied this year significantly, said Tai Hui.



In Britain, Libor-Rigging Conspiracy Case Is Also a Test for Regulators
New York Times - 22 hours 28 min ago
The investigation into the rigging of global benchmark interest rates at last yields a trial, which may also prove a measure of British controls on the finance industry.
COMMENTARY:
The Guardian - First Libor defendant faces trial in London - 4 hours 30 min ago



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