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Showing posts from April, 2015

MasterCard Inc's (MA.N) strong association with Chinese bank card behemoth UnionPay

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MasterCard Inc's (MA.N) strong association with Chinese bank card behemoth UnionPay is expected to help it reap more benefits than larger rival Visa Inc (V.N) as the country opens up its $7 trillion bank card payments market to foreign players. The world's largest debit and credit card issuers have so far been barred from operating independently in the China bank card market - projected to become the world's biggest by 2020. But that is set to change. China's State Council said last week foreign firms would be allowed to apply to the central bank for licenses for bank card clearing businesses from June 1. The measure is set to end a near-monopoly held by UnionPay. It will take at least a year for foreign card issuers to start operations in China, but investor expectations are high. Shares of MasterCard and Visa rose 4 percent in the three days following the announcement. "It's pretty close ... but MasterCard has a little more leeway than Visa because of its ex…

Deutsche Bank's plan to jettison much of its German retail bank

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English: Deutsche Bank Towers in Frankfurt am Main, Germany Slovenčina: Mrakodrapy (na obrázku dva mrakodrapy Deutsche Bank AG), utvárajú obraz mesta (Photo credit: Wikipedia) Deutsche Bank's plan to jettison much of its German retail bank and withdraw from one in ten countries sees it join a growing list of banks choosing to shrink and simplify to survive. The benefits of size and reach, for years considered the holy grail of global banking, are now viewed as being outweighed by the cost and complexity of running businesses across dozens of countries. Many bank bosses have given up on trying to offer everything to everyone. But as unwinding years of expansion proves difficult, pressure for action has intensified, from politicians who show little patience with institutions they consider too big and complex and investors wanting more return on equity (RoE). "The underlying economics for banks ... means being all things to all people is too big a burden to sustain," said B…

26,000 specialty foods online at CanAmShop

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CanAmShop online shopping with 26,540 online specialty foods products. CanAmShop.com is not the biggest competitor in online shopping world however it really does have one of the most extensive product selections around in the grocery/gourmet specialty foods website category. Other sites offer their products but CanAmShop’s pricing is extremely competitive and hard to beat. Shipping is not free and sales don’t exist, the best you might see is a $5.00 courtesy coupon saying thanks for shopping here. Some of CanAmShop’s categories are Allergy Free, Baking Pans, Tools, Bags, Totes, Baking Essentials, Breakfast Foods, Condiments, Drinks, Eco-Home, For Baby, Pets, dog treats, Fruits, Vegetables, Gift, Ideas, Grains, Beans, Sides, Health, Beauty, Meal Ideas, Paper, Disposable, Snacks, Soups, Bouillon, Teas, Vitamins, Supplements, organic, natural products.CanAmShop for online shopping for organic, natural, green products spanning 775 brands in over 125 product categories totaling 26,450 pro…

Google Inc on Wednesday launched a new U.S. wireless service

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Google Inc on Wednesday launched a new U.S. wireless service that switches between Wi-Fi and cellular networks to curb data use and keep phone bills low. The service, Google's first entry into the wireless industry, will work only on the company's Nexus 6 phones and be hosted through Sprint Corp and T-Mobile's networks, Google said in a statement. The service, called Project Fi, will automatically switch between the two networks and more than 1 million open, free Wi-Fi spots, depending on which signal is strongest. The service will cost $20 a month plus $10 per gigabyte of data used. Customers will get money back for unused data. RELATED VIDEOGoogle Project Fi could add to its data collection-IDC's Haven Sundar Pichai, Google's senior vice president of products, said at a Barcelona conference last month the company was preparing to experiment with a mobile network, but that it did not intend to disrupt the wireless industry. The service will be available on only o…

Short sellers

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English: The old logo of Credit Suisse. (Photo credit: Wikipedia) In January 2014, veteran short-seller Bill Fleckenstein said he was readying a new fund to bet on falling stock prices. More than a year later, he's still waiting to launch that fund. Despite lackluster U.S. economic data, a world grappling with slow growth, concern that Greece and Ukraine could default on their debts, the U.S. stock market has been more than resilient. Even after a selloff on Friday, major indices are less than two percent from all-time highs and volatility measurements have been close to their lowest levels for 2015. "How are you supposed to actively short stocks in this environment? It has been impossible," Seattle-based Fleckenstein told Reuters. His frustration is shared by others dedicated to betting on declines, if not for the broader market then for individual stocks that look overvalued. Outside of the hard-hit energy industry, most sectors have performed well over the last severa…

online shopping for grocery and gourmet products

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CanAmShop Mobile Shopping   We have 24,540 online shopping for grocery and gourmet products with natural and organic products branching out to provide other assorted choices of quality products. CanAmShop is a distributor of quality organic, natural, and healthy products. From food to gifts, and baking essentials, we have the finest range and quality service. Our distribution center on the West coast in Seattle, Washington U.S.A. Since 2003 eComTechnology has maintained its base of quality products with merchants from around the world.Allergy Free, Baking Pans, Tools, Bags, Totes, Baking Essentials, Breakfast Foods, Condiments, Drinks, Eco-Home, For Baby, Pets, dog treats, Fruits, Vegetables, Gift, Ideas, Grains, Beans, Sides, Health, Beauty, Meal Ideas, Paper, Disposable, Snacks, Soups, Bouillon, Teas, Vitamins, Supplements, Organic, Natural products, New eBooks! CanAmShop online shopping distributes wholesale organic and natural products spanning 775 brands in over 125 product categ…

Ernst & Young LLP [ERNY.UL] will pay $10 million to settle a New York lawsuit

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Ernst & Young LLP [ERNY.UL] will pay $10 million to settle a New York lawsuit accusing the accounting firm of helping Lehman Brothers Holdings Inc [LEHMB.UL] deceive investors in the years leading up to its 2008 collapse, the New York attorney general said on Wednesday. The 2010 lawsuit claimed Ernst & Young's auditing facilitated a "massive accounting fraud" and sought $150 million in fees that the firm earned from Lehman between 2001 and 2008, plus investor damages and equitable relief. While the $10 million was much smaller than what the attorney general's office had sought, Ernst & Young agreed to pay $99 million in damages to investors in a class action settlement approved a year ago. The case was the only action by a law enforcement authority in connection with Lehman's 2008 collapse, New York Attorney General Eric Schneiderman said in a statement. "If auditors' reports...provide cover for their clients by helping to hide material info…

Interactive City Guides

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eComTech Interactive Search eBooks, pdfs and emails.eComTech Publishing not only publishes, but distributes and sells ebooks on the internet at 6 different websites and of course Amazon and eBay too. Centered around the eBook or electronic publication side of the business eComTech does ebooks to City Guides and promotional items for city, hospitality, travel and real estate.  Something a little different that will catch your prospect’s eye! Promotional informational items including:Book MarketingBusiness MarketingTravel & HospitalityHealth & WellnessTechnologyEconomicsPromotional items Inquire about an eBook and get your specific interactive search today!Now on sale at CanAmShop.comInteractive Search eBooks can also be created for handouts (ebooks, pdf. files, and emails) — for working professionals to share so their students, seminar, or workshop participants receive expert guidance using search engines to find the best and most relevant content.

Black Duck's new Black Duck Hub open source security solution

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Black Duck's new Black Duck Hub open source security solution helps development teams check the security of open source in their code bases.Black Duck Software, a provider of solutions for managing open source software, has announced Black Duck Hub, a new open source security solution that helps security and development teams find and remediate open source vulnerabilities.
The Black Duck Hub helps users identify open source components used within their code, identify known security vulnerabilities, and triage, schedule, and track remediation.
“Most companies do not have an automated mechanism to identify new open source as it enters a code base,” said Bill Ledingham, executive vice president and chief technology officer at Black Duck Software, in a statement. “Moreover, they are unable to determine the actual risk and impact from vulnerabilities. Without this knowledge, companies have no way to triage and track vulnerability remediation efforts over time. The Black Duck Hub helps s…

Brent crude oil fell below $58 a barrel

Brent crude oil fell below $58 a barrel on Tuesday on signs of growing oversupply as Iranian officials visited Beijing to seek more oil sales following the framework nuclear deal that could lead to the lifting of sanctions. China is Iran's largest trade partner and has bought roughly half of its crude exports since 2012, when sanctions against the Islamic Republic were tightened. Oil markets were also pressured by a Goldman Sachs report saying prices needed to remain low for months to slow U.S. oil output growth. Brent LCOc1 was down 70 cents at $57.42 a barrel by 1335 GMT. U.S. crude CLc1 was down 75 cents at $51.39 a barrel. Representatives of state-run National Iranian Oil Company will meet China's biggest crude buyers including Unipec, the trading arm of top Asian refiner Sinopec Corp (0386.HK), and state trader Zhuhai Zhenrong Corp, officials told Reuters. Global oil markets already face a supply glut with producers pumping over 1.5 million barrels per day (bpd) more than…

UnionPay debit cards have become the most popular global payment method,

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UnionPay debit cards have become the most popular global payment method, generating more transactions than MasterCard and Visa according to The Nilsen Report. In 2014 there was a 14.2 per cent increase in overall transactions, with brands such as American Express, MasterCard, UnionPay, and Visa generating 195.56 billion payments. The increase in transactions has also increased the volume for goods and services. Last year goods and services grew by 18.3 per cent, producing $2.832 trillion. UnionPay’s growth in the debit card market is continuing to excel, with the Nilsen Report revealing that they had the highest percentage increase for a debit card, based on purchase volume. Union Pay’s debit and credit card transactions also grew by 52.3 per cent. UnionPay is attempting to match, and even better its competitors in terms of year-on-year growth. Last year UnionPay’s transactions grew to 6.78 billion, exceeding MasterCard’s 6.17 billion. Visa however, still comes out on top with transa…

U.S. media company Viacom Inc (VIAB.O) said it will undertake a restructuring

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Viacom 18 logo (Photo credit: Wikipedia)U.S. media company Viacom Inc (VIAB.O) said it will undertake a restructuring, including cutting jobs, abandoning some acquired titles and reorganizing three of its domestic network groups into two new organizations, to drive growth. The owner of movie studio Paramount Pictures and cable networks such as MTV and Comedy Central said it will take a related pre-tax charge of about $785 million in the quarter ended March 31. Viacom also halted its $20 billion share buyback program due to the restructuring and the spending on acquisitions anticipated in the current fiscal year. The company's shares fell 1.6 percent after the bell on Monday. Viacom said the new structure would realign sales, marketing, creative and support functions and increase efficiencies in program and product development. The company in January reported lower-than-expected first-quarter revenue due to weak advertising spending in the United States. Analysts on average were ex…

Online specialty gourmet foods

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CanAmShop.com is not the biggest competitor in online shopping world however it really does have one of the most extensive product selections around in the grocery/gourmet specialty foods website category. Other sites offer their products but CanAmShop’s pricing is extremely competitive and hard to beat. Shipping is not free and sales don’t exist, the best you might see is a $5.00 courtesy coupon saying thanks for shopping here. Some of CanAmShop’s categories are Allergy Free, Baking Pans, Tools, Bags, Totes, Baking Essentials, Breakfast Foods, Condiments, Drinks, Eco-Home, For Baby, Pets, dog treats, Fruits, Vegetables, Gift, Ideas, Grains, Beans, Sides, Health, Beauty, Meal Ideas, Paper, Disposable, Snacks, Soups, Bouillon, Teas, Vitamins, Supplements, organic, natural products.CanAmShop for online shopping for organic, natural, green products spanning 775 brands in over 125 product categories totaling 16,450 products for shipping in the US and Canada or worldwide. No order is too s…

U.S. initial public offerings by venture-backed companies fell to a two-year low

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 U.S. initial public offerings by venture-backed companies fell to a two-year low in the first quarter of 2015, according to data from the National Venture Capital Association and Thomson Reuters. About 17 venture-backed companies raised $1.43 billion in the three months ended March, compared with 37 that raised $3.40 billion in the same period a year earlier, according to the report. The last time the number fell below 20 was in the first quarter of 2013, when eight venture-backed companies raised $716.9 million. Box Inc (BOX.N), an online data storage provider, had the biggest IPO in the latest quarter, raising $201.2 million. It began trading on the New York Stock Exchange on Jan. 22. Life sciences companies dominated the IPO market, with 13 of the 17 offerings coming from the sector. The average amount raised was $84.3 million, down from $92 million in the first quarter of 2014.
Among venture-backed mergers and acquisitions, only 16 of the 86 during the quarter reported deal size.…

The brand new Payments Systems Regulator launched today in the UK

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The brand new Payments Systems Regulator launched today in the UK – and its first targets are the money transfer systems controlled by high street banks. Created to oversee the country’s £75 trillion-a-year payments sector, the regulator will aim to open up competition and access in all areas of payments, including the underlying infrastructure. At present, set-up costs for new challenger banks and other entrepreneurs seeking to make financial transactions cheaper and faster are often hamstringed by high set up costs – something that the Payments Systems Regulator wants to change. This means that banks, which currently act as the gatekeepers to many of the core technologies used by payments innovators, may be forced to loosen their hold.“We want to break open the control of payment systems, so it’s not just the big banks that control them who can use them,” Hannah Nixon, the watchdog’s managing director, told the Financial Times. “We need to make sure all those who use them or need a…

Strong coalition built to keep fighting for full LGBT

While Indiana Measure Limits Damage, LGBT Hoosiers Deserve BetterStrong coalition built to keep fighting for full LGBT non-discrimination protections that cannot be undermined WASHINGTON - Facing tremendous economic damage and mounting public pressure, particularly from leading businesses both in and outside of the state, Indiana lawmakers today moved to limit the scope and application of the state Religious Freedom Restoration Act (RFRA) in important ways. However, the proposal fails to explicitly ensure that the RFRA won’t be used to undermine the full scope of Indiana existing non-discrimination laws. The proposal also falls far short of adding non-discrimination protections for LGBT Hoosiers to the state’s civil rights laws, and future legislative sessions have an obligation to return to fix both the RFRA and this glaring hole in Indiana’s laws protecting their own citizens. Chad Griffin, President of the Human Rights Campaign, the nation’s largest lesbian, gay, bisexual, and tran…

tourist numbers is driving down shop rentals in Hong Kong

A drop in Chinese tourist numbers is driving down shop rentals in Hong Kong, with vacancies increasing in the same prime areas that just three years ago pipped New York's Fifth Avenue to become the world's most expensive retail real estate. Spooked by months of cross-border tensions and pro-democracy protests, tour groups visiting Hong Kong from China plunged about 80 percent this month, dealing a blow to the retailers that had built their businesses around these mainland visitors' once insatiable demand. A Chinese government crackdown on lavish spending which shows no signs of letting up has also encouraged tourists to shop further away from home, just as a drop in the yen and the won make Japan and South Korea more attractive destinations. That has further dimmed the appeal of Hong Kong's Causeway Bay, where renting a 500-square foot space (46 square meters) - the size of a school classroom - can cost HK$500,000 ($64,000) a month. "If they don't cut the ren…

Top European and U.S. banks axed 59,000 jobs last year

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English: (Photo credit: Wikipedia) Top European and U.S. banks axed 59,000 jobs last year as they restructured and cut costs, with headcount expected to shrink further in Europe as bosses strive to improve profitability that has been hit hard by tougher regulation. Lenders have also sold or shut businesses to narrow their focus to avoid falling foul of regulators concerned that some have become too big and complex. Analysts said that European banks, especially those in the euro zone, are likely to wield the knife again because they remain the most unprofitable in the world. "The screws will stay tight on headcount," said Aymen Saleh, managing director at Boston Consulting Group in London. "A handful of banks globally have really looked at structural change and taken a big cut from their cost base. The majority have done some tactical and convenient belt-tightening to take out costs, but without really fundamentally changing how they operate or their business model."…