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Business News - The Last 24 Hours

Top 7 affects of rate cut on people's life
China Daily - 4 min 7 sec ago
The People's Bank of China (PBOC), the nation's central bank, announced the first interest rate cuts in more than two years on Friday. The PBOC cut the benchmark rate for one-year deposits by 25 basis points and the one-year lending rate by 40 basis points from Saturday, marking the first adjustmen ...
RELATED:
Sydney Morning Herald - Australian dollar hands back China rate cut gains - 1 hour 59 min ago
Indiatimes - US Fed rule gives mixed signals on rates: Study - 3 hours 5 min ago
China Daily - Asymmetric rate cuts likely to put further pressure on banks - 16 hours 4 min ago
COMMENTARY:
Seeking Alpha - China Lowering Interest Rates Does Not Mean The Worst Is Over - 16 hours 10 min ago
Kiplinger - Hedge Against Higher Interest Rates With Bank Stocks - 19 hours 4 min ago



Business Briefing: Chief Executive Resigns at United Technologies
New York Times - 17 min 21 sec ago
Louis R. Chenevert steered the aerospace and building systems giant’s $18.4 billion purchase of the aerospace parts maker Goodrich in 2012.
RELATED:
Indiatimes - United Technologies CEO Chenevert retires, succeeded by CFO - 8 hours 53 min ago
Wall Street Journal - United Technologies CEO to Retire - 10 hours 40 min ago



Godfreys heads for stock market listing
Sydney Morning Herald - 18 min 7 sec ago
Godfreys, the vacuum cleaner retailer founded during the Depression, is headed for a $77.7m stock market listing in December.
RELATED:
China Daily - Shanghai-Hong Kong Stock Connect kicks off - 16 hours 34 min ago
COMMENTARY:
BusinessInsider - Top Wall Street Strategist Expects Another Year Of Double-Digit Stock Market Gains - 5 hours 51 min ago
DailyFinance - Market Wrap: Stocks Inch Further Into Record Territory - 7 hours 9 min ago
Zero Hedge - The Clear Definitive Sign That We Are In a Stock Market Bubble - 8 hours 29 min ago
Zacks - Stock Market News for November 24, 2014 - Market News - 8 hours 54 min ago
Seeking Alpha - We Maintain Our Outlook For Higher Prices For The Global Stock Market - 13 hours 15 min ago



Vaughan to take 'T20 FA Cup' to ECB
BBC - 25 min 19 sec ago
Michael Vaughan will offer his proposal for an FA Cup-style T20 competition to the ECB after a report into falling numbers.
RELATED:
Indiatimes - ECB's Nowotny hails EU stimulus plan as growth booster - 14 hours 15 min ago
COMMENTARY:
Zacks - Citigroup (C) to Be Removed from ECB Forex Contact Group - Analyst Blog - 1 hour 49 min ago
WSJ Blogs - ECB's Weidmann: Monetary Policy Alone Can't Create Growth - 2 hours 12 min ago
Zero Hedge - Gold & EUR Drop After ECB's Coeure Counters Weidmann's Warnings - 6 hours 59 min ago
Naked Capitalism - Tighly Coupled European Banks May be Harder to Bail In than the ECB Thinks - 17 hours 9 min ago



Consumer confidence lifts ahead of Xmas
Sydney Morning Herald - 1 hour 29 min ago
The ANZ/Roy Morgan consumer confidence has picked up as people begin to feel more positive about their household finances.
RELATED:
Indiatimes - Consumer confidence up after four months of decline: Survey - 11 hours 7 min ago



Tax relief threat to private schools
BBC - 1 hour 45 min ago
A future Labour government would require private schools to "earn" the yearly £700m they receive in rate relief by helping out state schools.
RELATED:
Indiatimes - PMO asks tax department to find more ways to bring back black money - 9 hours 38 min ago
BusinessWeek - Why America Needs an Exit Tax - 13 hours 3 min ago
COMMENTARY:
WSJ Blogs - A Peek at the Highest Earners' Tax Returns - 59 min 33 sec ago
Zacks - Japan Equity Funds Attract $1B on Snap Election and Sales Tax Delay - Mutual Fund Commentary - 5 hours 45 min ago
Time Business - Closing the Loophole Behind $10 Million Tax-Free Retirement Accounts - 13 hours 4 min ago
Kiplinger - 15 Nice-Try Tax Deductions - 19 hours 4 min ago



S&P 500 extends record on confidence in economy, central banks
Sydney Morning Herald - 2 hours 11 min ago
US stocks rose, extending all-time highs for benchmark indexes, as small-cap shares rallied amid growing confidence in the global economy.
RELATED:
Indiatimes - Putin stands by hawkish Russian central bank - 16 hours 24 min ago
COMMENTARY:
WSJ Blogs - Sri Lanka Central Bank Warns on Yen Weakness - 31 min 8 sec ago
Zero Hedge - Deutsche Bank's Modest Proposal To Central Banks: "Purchase The Gold Held By Private Households" - 3 hours 45 min ago



Google settles case with victim of extreme trolling
Sydney Morning Herald - 2 hours 17 min ago
Google says it will take "significant efforts" to remove abusive material about a businessman who brought the search giant to court over articles in search results he said made false allegations about him.
RELATED:
Indiatimes - Google settles with ex-banker over online abuse - 7 hours 22 min ago
BBC - Issues in Google online abuse case - 9 hours 12 min ago
Reuters - EU lawmakers to vote on Google break-up motion on Thursday - 10 hours 27 min ago
COMMENTARY:
BusinessInsider - The FAA's New Drone Proposal Would Be Bad News For Amazon And Google (GOOG, AMZN) - 2 hours 23 min ago
Zacks - European Regulators to Call for Google Breakup - Analyst Blog - 4 hours 16 min ago
Time Business - Google Takes Over North America’s Biggest Digital Billboard - 8 hours 30 min ago
VIDEO:
WSJ Video - Google's Massive Android Ad - 2 hours 45 min ago



Wall Street up on central bank bets, deals support
Indiatimes - 2 hours 57 min ago
US stocks rose on hopes that China will take further accommodative monetary policy action, while merger deals kept traders focused.
RELATED:
Indiatimes - Wall Street hits new records, boosted by cyclicals - 7 hours 27 min ago
China Daily - Wall St ends at records on central bank action - 8 hours 34 min ago
New York Times - Wall St. Rises in Early Trading - 9 hours 7 min ago
COMMENTARY:
Zacks - A Feast of Data This Week - Ahead of Wall Street - 9 hours 7 min ago
Seeking Alpha - Wall Street Breakfast: China Stocks Surge After Rate Cut - 12 hours 32 min ago
DailyFinance - Wall Street This Week: Deere Before the Turkey - 18 hours 4 min ago
VIDEO:
WSJ Video - Wall Street on Black Friday: Believe the Hype - 8 hours 3 min ago



Storm on menu for some Thanksgiving travelers
AP - 4 hours 4 min ago
MINEOLA, N.Y. (AP) -- A nor'easter is expected to develop Wednesday along the East Coast just as millions of travelers are heading to their Thanksgiving destinations....
RELATED:
BusinessWeek - The Secrets of Surviving the 10 Most Nightmarish Airports This Thanksgiving - 13 hours 5 min ago
COMMENTARY:
BusinessInsider - The Cost Of Thanksgiving Dinner Has Been Going Nowhere - 2 hours 52 min ago
Seeking Alpha - Be Thankful For Dividend Increases This Thanksgiving - 4 hours 1 min ago
TechCrunch - Black Friday Starts Early This Year, With Pre-Thanksgiving Sales Up 19% Over 2013 - 4 hours 46 min ago
WSJ Blogs - John Oliver on the Thanksgiving Tradition of 'Turkey Pardoning' - 5 hours 53 min ago
The Guardian - Seven tips for a healthier and more sustainable Thanksgiving - 9 hours 26 min ago
DailyFinance - Kmart to Employees: Work on Thanksgiving or Get Fired? - 11 hours 1 min ago



$A lower as metals and oil prices fall
Sydney Morning Herald - 4 hours 24 min ago
The Australian dollar has followed commodity prices lower.
RELATED:
Indiatimes - Oil price drop 'not catastrophic' for UAE: Minister - 9 hours 12 min ago
Wall Street Journal - Oil Price Slide May Curb Gulf States' Spending Plans - 21 hours 45 min ago
COMMENTARY:
Zacks - TOTAL Bears the Brunt of Falling Oil Prices, Debts Rise - Analyst Blog - 2 hours 4 min ago
Seeking Alpha - ConocoPhillips: Lower Oil Prices Will Not Faze This Dividend Champ - 3 hours 5 min ago
24/7 Wall St. - Despite Lower Oil Prices, Texas Manufacturing Remains Relatively Strong - 7 hours 23 min ago
FT Alphaville - Oil-price decline: the bank-exit liquidity theory - 8 hours 41 min ago
VIDEO:
CNN Video - Oil price drop costing Russia billions - 2 hours 4 min ago



DealBook: Citigroup Fined $15 Million for Failing to Properly Supervise Analysts
New York Times - 5 hours 24 min ago
The settlement with a Wall Street regulator comes more than a decade after a crackdown on banks — including Citigroup — regarding favoritism and selective disclosure by research analysts.
RELATED:
Wall Street Journal - Finra Fines Citigroup $15 Million - 6 hours 55 min ago
Indiatimes - Citigroup to pay $15 mln for analyst supervision lapses: FINRA - 8 hours 5 min ago



RBS 'wanted critic's mortgage back'
BBC - 6 hours 34 min ago
A businessman who wrote a government report that criticised RBS has been told he can no longer remain a customer of the bank, Panorama learns.
RELATED:
BBC - VIDEO: RBS apology for 'incorrect' evidence - 10 hours 26 min ago
COMMENTARY:
The Guardian - RBS bonuses under fire as restructuring group executives’ testimony questioned - 4 hours 43 min ago



Bank of England hires IMF forecaster for senior research job
Indiatimes - 6 hours 50 min ago
Bank of England chief economist Andy Haldane said Michael Kumhof would help "establish our new approach to research at the Bank".
RELATED:
China Daily - China's decision to observe IMF data standards benefits economy - 16 hours 4 min ago



BT in Talks to Buy Telefónica U.K. Unit
Wall Street Journal - 7 hours 27 min ago
BT said it is in talks to buy Telefónica’s U.K. mobile business, O2, as the British telecom incumbent lays out its ambitions to be a fully fledged wireless operator in the U.K.’s converging telecom market.
RELATED:
Indiatimes - BT says in talks to buy back O2 mobile phone unit - 8 hours 2 min ago
New York Times - DealBook: BT Says It Is in Talks to Acquire O2 - 8 hours 20 min ago
BBC - BT and Telefonica in talks over O2 - 12 hours 33 min ago
COMMENTARY:
The Guardian - If BT is throwing £10bn at mobile, the corporate dance has started - 3 hours 54 min ago



UAE says OPEC will take "appropriate decision": WAM
Indiatimes - 8 hours 57 min ago
WAM also cited Mazroui as saying that lower oil prices "will not constitute a disaster for the UAE", noting that the UAE has managed to diversify its economy away from oil.
RELATED:
Indiatimes - Oil seen @ $60 if OPEC doesn't cut output - 17 hours 29 min ago
New York Times - Week Ahead: Updates on Europe’s Economy, and an OPEC Meeting - 21 hours 53 min ago
COMMENTARY:
Seeking Alpha - OPEC And The Logic Of Low Oil Prices - 47 min 2 sec ago
BusinessInsider - CANCEL THANKSGIVING: The Most Important OPEC Meeting In Years Is Happening On Thursday (USO) - 9 hours 9 min ago
Zero Hedge - Brent Plunge To $60 If OPEC Fails To Cut, Junk Bond Rout, Default Cycle, "Profit Recession" To Follow - 11 hours 3 min ago
VIDEO:
Reuters Video - OPEC ministers vs. themselves - 1 hour 57 min ago



China corruption watchdog launches inspections, eyes Sinopec
Indiatimes - 10 hours 27 min ago
The inspectors, part of China's Central Commission for Discipline Inspection (CCDI), will focus on senior figures within Sinopec who may be promoted to leadership roles.
RELATED:
Sydney Morning Herald - Senior construction manager stood down at Bendigo Health over corruption allegations - 15 hours 4 min ago
Indiatimes - China brings back 312 corrupt officials to face trial - 17 hours 14 min ago
COMMENTARY:
BusinessInsider - Iraq Is So Corrupt That Government Weapons Are Reportedly Ending Up In ISIS Hands - 10 hours 30 min ago
VIDEO:
Reuters Video - Portugal reeling from corruption inquiry - 8 hours 56 min ago



Your Money questions: Investment properties, superannuation, reverse mortgages and gifting
Sydney Morning Herald - 10 hours 49 min ago
Investment properties present lots of questions as well as opportunities.
COMMENTARY:
Seeking Alpha - 13.7% Dividend Payer New York Mortgage Trust Has Outperformed, But Has That Made It Riskier? - 2 hours 44 min ago



DBS pegs Q2 GDP at 5.3% on low farm yield, industrial activity
Indiatimes - 10 hours 51 min ago
The farm output may have risen to 2.6 per cent, slower than 3.8 per cent in the first quarter, on account of below-normal Southwest monsoon.
RELATED:
Indiatimes - Russian economy minister estimates Jan-Oct GDP growth at 0.8% y/y - 12 hours 37 min ago
COMMENTARY:
Seeking Alpha - IHS Chief Economist Nariman Behravesh: U.S. GDP Growth '15, '16 - High 2% Range; '17 - 3% - 5 hours 24 min ago
Zero Hedge - Service PMI Misses, Tumbles To 7-Month Lows, "Extreme Weather" Warning For GDP Issued - 9 hours 10 min ago



Russian economy minister says rouble has potential to strengthen
Indiatimes - 13 hours 1 min ago
"We have for tomorrow for the dollar 44.48 roubles and for the euro 55.4 roubles, they have fallen back 7-8 per cent," Alexei Ulyukayev said.
COMMENTARY:
The Guardian - Russia hit hardest by plunging oil prices as producers brace for cut in profits - 2 hours 43 min ago
Time Business - Russian Official Says Oil Slump and Sanctions Cost $140 Billion a Year - 11 hours 48 min ago



World needs to understand China's 'new normal' growth
China Daily - 14 hours 4 min ago
BEIJING - It has been an eventful week in China, not only because the country played host to a successful APEC meeting, but also because Chinese businesses are busy fulfilling orders for goods snapped up online Tuesday during a national e-commerce extravaganza. The unprecedented Singles' Day sales ...
RELATED:
China Daily - China determined to solve major problems in economy - 14 hours 4 min ago
COMMENTARY:
WSJ Blogs - Economists React: Will China's Interest-Rate Cut Bring Any Change? - 6 hours 41 min ago



US seeks to step up trade talks after WTO breakthrough
Indiatimes - 14 hours 9 min ago
Obama will in January become the first U.S. president to visit India twice, completing a remarkable warming in the relationship.
RELATED:
Reuters - U.S. seeks to step up India trade talks after WTO breakthrough - 14 hours 30 min ago



Major private steel company files for bankruptcy protection
China Daily - 15 hours 34 min ago
TAIYUAN - Haixin Iron and Steel Group, the largest private iron and steel enterprise in Shanxi province, has started bankruptcy reorganization procedures, according to a local court on Monday. The company, located in Wenxi county, had an annual steel output of five million tons and was ranked secon ...
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Indiatimes - Questions, answers about Detroit's bankruptcy - 15 hours 57 min ago
COMMENTARY:
DailyFinance - Bankruptcy Can Happen, Even With a 700 Credit Score - 14 hours 4 min ago



Sony denies PlayStation was hacked
Sydney Morning Herald - 17 hours 58 min ago
Hacker group claims to have published details for thousands of PlayStation Network.
RELATED:
Sydney Morning Herald - Hands on: Sony PlayStation TV - 22 hours 24 min ago
COMMENTARY:
Time Business - Watch the Sexist PlayStation Ad Sony Quickly Pulled From YouTube - 5 hours 6 min ago
BusinessInsider - Sony PlayStation Has Quickly Pulled A Blatantly Sexist Ad (SNE) - 10 hours 39 min ago



Real Estate Bill to come up in Winter Session of Parl
Indiatimes - 18 hours 56 min ago
Real Estate Bill to come up in Winter Session of ParlThe biggest issue in the slowdown in the real estate markets is attributed to a crisis in confidence among buyers towards the developer communities.
RELATED:
China Daily - Changing the face of real estate in Angola - 20 hours 34 min ago
COMMENTARY:
TechCrunch - Real Estate Joins Brazil’s Big Startup Industries - 12 hours 33 min ago



Business confidence improves
Sydney Morning Herald - 19 hours 4 min ago
But small businesses are still reluctant to invest.
RELATED:
BBC - Business confidence at five-year low - 21 hours 13 min ago
COMMENTARY:
BusinessInsider - Germany's Ifo business confidence index rises in November - 14 hours 42 min ago
The Guardian - Global business confidence hits five-year low as storm clouds gather -- business live - 15 hours 11 min ago



China ready to cut rates again on fears of deflation
Indiatimes - 19 hours 16 min ago
China cut the RRR for some banks this year but has not announced a banking-wide reduction in the ratio since May 2012.
RELATED:
Reuters - Exclusive: China ready to cut rates again on fears of deflation - sources - 21 hours 42 min ago
COMMENTARY:
Seeking Alpha - Are Low Interest Rates Deflationary? - 15 hours 34 min ago



Rinehart says regulation is killing jobs
Sydney Morning Herald - 19 hours 24 min ago
Mining magnate Gina Rinehart says too much government regulation is hurting Australians, small businesses and the economy.
COMMENTARY:
Economist's View - 'And the Winner Is...Full-Time Jobs! - 4 hours 13 min ago
BusinessInsider - We're Witnessing Some Really Great Improvements In The US Job Market - 5 hours 39 min ago



Samsung Weighs Management Shake-Up
Wall Street Journal - 21 hours 46 min ago
Samsung Electronics is considering a leadership shake-up, including installing a new mobile chief, according to people familiar with the matter, to revive its fortunes after a difficult year.
RELATED:
Sydney Morning Herald - Samsung reshuffle: mobile executives to 'pay the price' for profit slump - 21 hours 56 min ago
COMMENTARY:
BusinessInsider - CHART OF THE DAY: Samsung's Mobile Market Share Is Tumbling - 1 hour 55 min ago
TechCrunch - Samsung Ponders Executive Shakeup As Galaxy S5 Sales Fall 40% Short Of Expectations - 9 hours 30 min ago
WSJ Blogs - At Samsung, Change May Be Brewing at the Top - 15 hours 18 min ago



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