Showing posts from July, 2015

Federal government announces dollars for sonar to map Arctic sea floor

Danish-Germany relations to be improved by Eurostar-style tunnel

Danish-Germany relations to be improved by Eurostar-style tunnel by David Wormley European Commission has approved fehmarn belt fixed link between Denmark and Germany The EU has granted approval for the construction of an under-sea tunnel creating a more direct link between Denmark and Germany, shortening journey times significantly. Europe’s supra-governmental body will also finance €589m of the €8.7bn project using its Connecting Europe Facility. The funds in this facility are earmarked to integrate the EU further, which this road and rail project looks to achieve by shortening rail journey times between Copenhagen and Hamburg from five hours to just 2. The tunnel will have a large capacity, with a rail line going in each direction sitting next to a four-lane motorway. The route will go below ground at Roedby in Denmark and emerge in Fehmarn, an hour and forty minutes from Hamburg by car. Roedby is roughly the same distance from Copenhagen, an hour and fifty minutes of driving. Ger…

Facebook's ascent has investors betting on more gains

Facebook's ascent has investors betting on more gainsNEW YORK| BY SAQIB IQBAL AHMED A picture illustration shows a Facebook logo reflected in a person's eye, in Zenica, March 13, 2015. REUTERS/DADO RUVIC The big selloffs in shares of social media companies last quarter following weak results seem to be brushed under the carpet this earnings season as investors focus instead on the success of Facebook Inc (FB.O).
Investors in the options market are betting on more gains for the stock after it reports results Wednesday.
Facebook escaped the rout in social media stocks after last quarter's results. The shares are up about 20 percent this year. The stock and a handful of other winners account for the bulk of S&P 500 .SPX gains this year.
The rapid ascent has made Facebook one of the ten largest S&P companies in terms of market capitalization, with the stock now worth more than $260 billion - surpassing decades-old companies like Wal-Mart Stores (WMT.N) and Procter &am…

50 percent stake in The Economist LONDON

Pearson says in talks to sell its 50 percent stake in The EconomistLONDON A company logo hangs on the headquarters of the Financial Times newspaper in London, Britain July 23, 2015. REUTERS/PETER NICHOLLS Britain's Pearson (PSON.L) said on Saturday it was in talks to sell its 50 percent stake in The Economist Group, publisher of The Economist newspaper. The move comes on the heels of Pearson's sale of the Financial Times newspaper to Japanese media group Nikkei, announced this week as its focuses on its education business. "Pearson confirms it is in discussions with The Economist Group Board and trustees regarding the potential sale of our 50 percent share in the group," the company said in a statement on Saturday. "There is no certainty that this process will lead to a transaction." Pearson did not name the potential buyers. People familiar with the matter said, however, that the group of families and staff and former staff that own the remaining 50 perce…

Citibank pay an estimated $700m in relief to customers harmed by illegal credit card procedures

The Consumer Financial Protection Bureau (CFPB) has demanded that Citibank pay an estimated $700m in relief to customers harmed by illegal credit card procedures. The fine relates to the banks ‘‘deceptive marketing, billing, and administration of debt protection and credit monitoring add-on products.’’ CFPB estimate that nearly 9m customers have been affected by the illegal practices. Between 2003 and 2012, the national bank actively enrolled customers in a number of credit card and debt protection add-on services, including “AccountCare,” “Balance Protector,” “Credit Protection,” “Credit Protector,” and “Payment Safeguard.” It is believed that all these services were marketed deceptively by Citibank. Some of the largest illegal marketing practices undertaken by Citibank included: Misrepresenting cost and fees for coverageMisrepresenting benefits of some productsIllegal practices in the enrollment processMisrepresenting or omitting information about eligibility for coverage Citibank a…

Is it a plane? – is it a yacht?

Is it a plane? – is it a yacht? It´s bothPublished on July 17, 2015 by    ·   No Comments The latest superyacht concept design from the amazing brain of Vasily Klyukin is a yacht with a difference. The Monaco 2050 sports a top deck that is totally removable, which in itself is a rather remarkable idea, but how does one remove it? In this case, the top deck is a VTOL – a Vertical TakeOff and Landing aircraft – that takes off upwards with propellers before engaging its main jets at 1,000 metres. This eccentric businessman-turned-architect has quite the conversation starter on his hands. Russian-born Monaco resident Vasily Klyukin is a designer of skyscrapers, extravagant villas, and megayachts. A successful businessman, Klyukin founded one of Russia’s top 100 banks, which has given him the freedom to pursue his interests of adventuring, charity and architecture. His designs, therefore, are refreshingly unconstrained by practicality. Previous superyacht designs (which we’ve covered…

UK cardholders will switch banks

UK cardholders will switch bank accounts to gain faster payments 21 Jul 15 | Author Insights & AnalysisBanking | Cards | E-commerce British cardholders expect faster and more accessible payments from their bank and are prepared to switch accounts to gain improved payment services, according to an ACI worldwide survey. The study was conducted by the universal payments company and YouGov, whereby 2000 UK cardholders were questioned about their payment preferences. The survey reveals that nearly half (45 per cent) of UK bank account holders would switch providers if it would mean gaining access to faster electronic payments. Over half (65 per cent) of respondents want faster payments when paying for their utility bills. Credit card bills (60 per cent) and transferring cash to family and friends (66 per cent) also takes precedence for British cardholders. An appetite for faster payments is commonly found within UK millennials, as people born between 1989 and the earl…

Toshiba CEO Hisao Tanaka resigns over doctored accounts

Toshiba CEO Hisao Tanaka resigns over doctored accounts that inflated profits Toshiba acknowledges systematic coverup that began in 2008 Toshiba Corp. CEO Hisao Tanaka bows during a press conference to announce his resignation at the company's headquarters in Tokyo on Tuesday. He stepped down to take responsibility for doctored books that inflated profits at the Japanese technology manufacturer. (Shizuo Kambayashi/Associated Press) Toshiba's CEO and eight other executives resigned Tuesday to take responsibility for doctored books that inflated profits at the Japanese technology manufacturer by 152 billion yen ($1.59 billion Cdn) over several years.
Toshiba Corp. acknowledged a systematic coverup, which began in 2008. Various parts of the Japanese company's sprawling business including computer chips and personal computers were struggling financially, but top managers set unrealistic earnings targets under the banner of "challenge," and subordinates faked results…

PayPal returns to market with $52 billion

PayPal returns to market with $52 billion valuationBY DEVIKA KRISHNA KUMAR AND MARI SAITO The PayPal logo is seen during an event at Terra Gallery in San Francisco, California May 21, 2015. REUTERS/ROBERT GALBRAITH PayPal Holdings Inc (PYPL.O) shares jumped as much as 11 percent in their highly anticipated return to the Nasdaq after more than a decade in eBay Inc's (EBAY.O) fold, valuing the digital payment processor at about $52 billion.
PayPal is a giant in the market it helped create - it processed 4 billion payments tootling about $235 billion in 2014. But the online payments landscape has changed drastically since the company was snapped up by eBay in 2002.
Freed from eBay, PayPal is now expected to partner with other e-commerce sites and try to seize market share from startups such as Stripe and Square and Apple Inc (AAPL.O), which unveiled its own mobile payments service last year.
For eBay, the separation allows the company to focus on its struggling e-commerce marketplace…

U.S. banks to hold more equity capital

The Federal Reserve will meet on Monday to adopt a new rule for the eight largest U.S. banks to hold more equity capital, amid fears on Wall Street that the measure may make it less profitable. The rule was largely similar to when it was proposed in December, when the U.S. central bank said the banks would face a surcharge of between 1 percent and 4.5 percent of their assets. The Fed also gave numerical estimates of what the rule would mean for each of the banks. The numbers were in line with an estimate by Goldman Sachs (GS.N) analysts in December. Regulators want U.S. banks whose failure could threaten markets to fund themselves more with shareholder equity, and less with borrowed funds. They also want to discourage banks from relying on unstable short-term borrowing, a key contributing factor to the demise of Lehman Brothers at the height of the financial crisis in 2008. JPMorgan Chase & Co (JPM.N) faces the highest surcharge at 4.5 percent, followed by Citigroup (C.N) at 3.5 …

lives cut short by air pollution

Almost 9,500 people in London had their lives cut short by air pollution in 2010, accounting for a fifth of all deaths in the city that year, and the effect was deadlier where traffic was heaviest, according to a new report from King's College London. The research was commissioned by Transport for London and the Greater London Authority and looked at the number of deaths associated with nitrogen dioxide (NO2) tied to vehicles' diesel fumes, in addition to particulate matter — such as dust, dirt, soot, smoke, and microscopic liquid droplets— in the air in order to provide a more complete understanding of London's air quality. A past report from 2008 only studied particulate mater, to which it attributed 4,267 premature deaths. The King's College London study, which pooled results from multiple studies on particulate matter and NO2 exposure,puts the new death toll twice as high, at 9,416, and found that pollution associated with NO2 was the main killer: 5,879 early deat…

Corporate China's debts

Manage, meddle or magnify? China's corporate debt threatHONG KONG| BY UMESH DESAI A man walks past an electronic board showing the benchmark Shanghai and Shenzhen stock indices, on a pedestrian overpass at the Pudong financial district in Shanghai, China, in this June 26, 2015 file photo. REUTERS/ALY SONG/FILES Beijing may have averted a crisis in its stock markets with heavy-handed intervention, but the world's biggest corporate debt pile - $16.1 trillion and rising - is a much greater threat to its slowing economy and will not be so easily managed.
Corporate China's debts, at 160 percent of GDP, are twice that of the United States, having sharply deteriorated in the past five years, a Thomson Reuters study of over 1,400 companies shows.
And the debt mountain is set to climb 77 percent to $28.8 trillion over the next five years, credit rating agency Standard & Poor's estimates. [ID:nL4N0ZV68I]
Beijing's policy interventions affecting corporate credit have so …

Rick Mercer Rant Slams Harper conservatives

Rick Mercer Rant Slams Harper conservatives attack on Canada's Water & Scientists > -SHARE! WATER IS LIFE! HELP GET THIS INFORMATION OUT TO ALL CANADIANS! ALL RESEARCH IS ATTACHED FOR READING. PLEASE VIEW THE DOCUMENTARIES! View This Documentary Film, 'Sacred Spirit of Water' here > The film provides insight on how the Harper government Omnibus Bills, Privatization of Water, Hydraulic Fracking will impact all of us, and most significantly, create awareness into what our children and grandchildren will be dealt as a result of the aftermath. View This CBC Documentary: The Nature of Things with David Suzuki 'Shattered Ground' on Hydraulic fracking, the impacts on water and your communities. > WATER IS SACRED >, DID YOU KNOW THE HARPER GOVERNMENT REMOVED 99% OF CANADA'S PROTECTED WATERWAYS- OVER 2 MI…