Global Business News for 11 Sep 2013
Announced the same day as its path-breaking gay marriage decision, the Supreme Court?s ruling in Sekhar v. United States, addressing the definition of ?property? for purposes of an extortion... prosecution under the Hobbs Act, got a bit lost in the hubbub. Both because the Hobbs Act is an important and oft-used weapon in the government?s arsenal, and because the decision appears to be part of a broader trend to cut back on some judge-made rules that have expanded the reach of statutes used to prosecute white-collar crime, the decision is worth a closer look.
SEOUL, South Korea (AP) -- North and South Korea agreed Wednesday to restart operations at a jointly run factory park that Pyongyang shut down in April during a torrent of threats, the latest sign of... easing animosity between the rivals.
Forbes Media LLC., publisher of Forbes magazine and forbes.com, is an authoritative source of news and information on business, investing, technology, entrepreneurship, leadership and affluent... lifestyles. Forbes.com, a leading business website, currently reaches 49 million monthly unique visitors, according to Omniture. Forbes magazine, Forbes Asia and Forbes Europe attract a global audience of more than 5 million readers. The Forbes magazine iPad app merges the power of print storytelling with social sharing and the web. The Company also publishes ForbesLife magazine, as well as 29 licensed local editions around the world.
History is not on the side of people who make snide remarks about the United Kingdom as Marshal Philippe Petain, leader of French occupied Germany discovered in the 1940s, and as the Russian... Government might also discover if it checked current economic facts, and the surprise views of big Swiss investment bank.
California has finally fixed an 1872 law that led a court to throw out a rape conviction on the basis that the female victim wasn't married at the time of her rape. Earlier this year, California's... Second District Court of Appeals granted a retrial for a man, Julio Morales, who snuck into a woman's bed, pretended to be her boyfriend, and raped her. Because the woman wasn't married at the time, the court "reluctantly" held that it wasn't legally defined as rape. Here's an excerpt from the court's ruling, courtesy of LA Weekly: A man enters the dark bedroom of an unmarried woman after seeing her boyfriend leave late at night, and has sexual intercourse with the woman while pretending to be the boyfriend. Has the man committed rape? Because of historical anomalies in the law and the...
Downtown Detroit was hit by a power outage at around 1 p.m. today. Multiple buildings appear to have lost power including city hall, Detroit News is reporting. CBS Detroit reports that the Frank... Murphy Hall of Justice and the People Mover in downtown Detroit have also lost power, while Local 4 News reports that some Wayne State University buildings lost power and there were reports of people stuck in elevators. We recently reported how the city was racing against the end of Daylight Savings Time to restore reliable service to thousands of street lights. The city's office of emergency management says they had to shut off parts of the grid to address two main power lines that surged out as a result of heat overloads, the WXYZ's Alicia Smith reports. The area is powered by the City of...
?How should we get started?? I?m asked that question all the time. It?s clear that by now, most marketers recognize the link between data-driven marketing and business value. But many remain stumped... about how to actually begin putting data-driven marketing to work. ?What should we do first?? ?Is there a right way? A wrong way? A best way?? Over the next few weeks, I?ll walk you through my five-step plan around big data marketing. I?ll break it down and show you how your company can really dig into the issue, make decisions and make data-driven marketing a reality. For today, let?s explore Step One: Get Smart, Get Strategic.
A recently ended strike that hit automakers in South Africa resulted in production revenue losses of 20 billion rand ($2 billion) over four weeks, the local industry said on Wednesday.
This picture, posted to Weibo, shows two cans of Chinese Red Bull. One is fake — can you tell which one? Here's another shot, showing the Red Bull after it was poured: If you can't tell the... difference, you may be in for a little bit of trouble when visiting China. The South China Morning Post reports that that police have detained 13 people across 10 provinces in China this week, part of an effort to clamp down on the fake Red Bull trade. Police have confiscated 3,820 boxes of cans and other materials worth a total of 25 million yuan ($4 million). The fake Red Bull is apparently a profitable business, earning 3.7 yuan (60 cents) profit on each fake can sold. However, it may have a downside for consumers — posts on Chinese Weibo reportedly show someone receiving hospital treatment after...
City investors and investment banks are at loggerheads over restrictions on company share sales, Sky News understands.
Hedge fund that allied with Carl Icahn on Dell is No. 2 shareholder in Murdoch's firm.
BANGKOK (AP) -- The price of oil dropped Wednesday after President Barack Obama said he asked U.S. lawmakers to postpone a vote authorizing the use of military force against Syria.
BEIJING (AP) -- A billionaire Chinese real estate developer who bought one of the biggest U.S. cinema chains last year has emerged as the country's new richest tycoon.
SYDNEY, New South Wales
MSCI Asia ex-Japan stock index on track for 10th day of gains; safe-haven yen pressured, oil prices stay soft
Netflix is launching its video streaming service in the Netherlands Wednesday, making good on plans it announced three months ago. It also set a price: 7.99 euros ($10.63) per month. The first month... is free.
IT'S a lesson on what never, ever to do online. A Business Insider boss has been forced to resign after his expletive-laden Twitter account attracted plenty of unwanted attention.
Blythe Masters, the chief of JP Morgan's commodities unit, could leave the bank in a deal to exit JPM from the physical commodities business, a person close to her told the Wall Street Journal.... Masters, an economist, is widely credited with creating the credit default swap, and was the youngest woman to become a managing director at the bank at age 28. JP Morgan only got into the physical commodities business by chance, during the financial crisis. That's when it inherited Bear Stearns' commodities units and then bought RBS' for a song. The problem is that according to bank regulation dating bank to the 1960s, bank-holding companies like JPM are not supposed to hold these assets anyway. Now the Fed gets to decide whether JPM, and all the other major banks, will keep these businesses. JPM...
The Peabody Orlando hotel in Florida has entertained families for decades with its twice-daily parade of ducks through the lobby. But the hotel has been sold to Hyatt, and the tradition is about to... change.
Popped collars, country club membership, private school diploma — they're all signs of preppiness. But where are you most likely to run into a prepster, or become one? Real estate blog Movoto has... come up with a ranking of the preppiest cities in America, looking at a number of factors it says go into the preppy lifestyle: Preppy clothing retailers per capita, country clubs per capita, equestrian centers per capita, private schools per capita, presence of boarding/preparatory schools, percentage of college graduates with a bachelor’s degree or higher, and median household income (you can find the full methodology here). Surprisingly, the northeast did not dominate Movoto's list. The website named San Francisco as the prepster capital of America, followed by Scottsdale, Honolulu,...
The chocolatier made pre-tax profits of £5.2million last year, compared to a loss of £2.2million the year before, as sales ticked up 1.8 per cent to £221.1million.
Royal Caribbean Cruises Ltd. said Wednesday that its board of directors had agreed to get rid of staggered terms, instead moving to annual elections for directors.
The process of selling off a majority stake Royal Mail will begin on Thursday morning, the BBC's Newsnight programme has learned.
The move is the latest initiative being used by retailers who have exhausted ways to operate the space themselves.