Latest news for Prudential Jennison 20/20 Focus A(PTWAX) (See analysis on PTWAX)
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Latest business news
Friday July 25th 2014: Latest financial news from the worldInsight: GM recalls far from calamity for some dealers who find new customers, business
By Nick Carey and Bernie Woodall FOX LAKE Ill. (Reuters) - The news about deadly crashes linked to a faulty ignition switch, followed by wave upon wave of recalls, did not bode well for General Motors dealers earlier this year. It conjured visions of worried, frustrated drivers pouring onto lots like Raymond Chevrolet, outside of Chicago. Although the script is not what the dealership would have written, GM is delivering sales and service prospects to her door. GM as a whole posted a 2.5 percent increase in sales in the first half of the year, just a step behind the industry average of 4.3 percent.
Asian shares pull away from three-year highs but gain on week
By Lisa Twaronite TOKYO (Reuters) - Asian shares pulled back from this week's three-year highs on Friday after a mostly flat day on Wall Street, though a fresh S&P closing record and upbeat U.S. employment data underpinned sentiment. "The German Ifo current assessment index and expectations index are both expected to decline, which could weaken euro/dollar," said Marshall Gittler, global head of FX strategy at IronFX Global. "The Ifo index is in contrast to Thursday's positive PMI figures, perhaps because the Ifo incorporates more recent data on the impact that sanctions on Russia are likely to have on the German economy," Gittler said in a note to clients. MSCI's broadest index of Asia-Pacific shares outside Japan was down about 0.3 percent, though still on track for solid weekly gain of more than 1 percent.
Exclusive: China meat supplier faced claims last year over unethical work practices
By Kazunori Takada SHANGHAI (Reuters) - Shanghai Husi Food, the U.S.-owned Chinese food supplier at the center of a meat safety scandal, won a court case earlier this year against a former quality control officer whose claims included that he was made to forge meat production dates. Wang Donglai, who worked at Shanghai Husi Food from 2007 to 2013, sought around 38,000 yuan ($6,100) in compensation for damage to his health from exposure to chlorine used as a cleaning agent by the meat processor. He also sought to terminate his contract at Shanghai Husi, claiming he was forced to work overtime and made to do "unethical work" that violated food safety laws, court documents showed. At his hearing last October, Wang said he was unwilling to illegally forge dates at the plant, adding that he repeatedly urged his employer to change a practice which he said violated food safety laws and hurt consumer interests, according to court documents seen by Reuters.
BSkyB to pay $8 billion to create Sky Europe
By Kate Holton LONDON (Reuters) - Britain's BSkyB has agreed to pay 4.9 billion pounds ($8.3 billion) in cash to buy Rupert Murdoch's pay-TV assets in Germany and Italy, responding to slowing growth at home by creating a European media powerhouse. BSkyB, in which Murdoch's 21st Century Fox is also the top shareholder, will pay for the deal using cash, debt and a placing of shares that represents around 10 percent of its issued share capital. 21st Century Fox is expected to use the proceeds from its partial exit from Europe to fuel its pursuit in the United States of Time Warner, which recently rejected Fox's initial $80 billion bid. Fox owns 100 percent of Sky Italia, 57 percent of Sky Deutschland and 39 percent of BSkyB.
EU regulators to decide on Oracle, Micros deal by Aug. 29
BRUSSELS (Reuters) - European Union antitrust regulators will decide by Aug. 29 whether to clear world No. 2 software maker Oracle Corp's $5.3 billion bid for Micros Systems , the European Commission said on Friday. The deal, Oracle's biggest in five years, is in line with Oracle's strategy to boost its fast-expanding cloud business. Micros makes point-of-sale hardware and software for restaurants and hotels. The Commission can now either clear the deal unconditionally or demand concessions to resolve competition issues. (Reporting by Foo Yun Chee; editing by Robin Emmott)
Shares in Britain's RBS soar after surprise profit
By Steve Slater LONDON (Reuters) - Royal Bank of Scotland posted a surprise 1 billion pound ($1.7 billion) pretax profit for the second quarter thanks to a turnaround in losses from bad loans, prompting it to release earnings a week early. It sent RBS shares soaring by 14 percent to 376 pence, on course for their biggest one-day gain since April 2009 and boosting chances of the taxpayer recouping what it invested - though maybe not for several more years because the price is still 25 percent below what the state paid. RBS said the profit was mainly because of an economic upturn that allowed it to write back losses that had been booked on bad loans, giving it a net release of 93 million pounds. 'STRONGER BANK' RBS said it was obliged to release headline numbers early because they were far better than market expectations.
Sluggish Latin American results show risks for U.S. companies
U.S. companies are reporting sluggish financial results in Latin America, showing the risks they face in relying on Brazil and other emerging markets in the region for growth. Companies ranging from Ford Motor Co to 3M Co and Caterpillar Inc reported second quarter earnings that highlighted weakness in their Latin or South American operations. Several companies reported tepid performance in Brazil, the biggest economy in Latin America, where some economists fear the country is on the verge of a recession. "The place where we see a little bit more of a challenge is Latin America," 3M Chief Executive Officer Inge Thulin told analysts on the company's quarterly conference call on Thursday.
Amazon's heavy investing eats into bottom line, shares drop
By Deepa Seetharaman SAN FRANCISCO (Reuters) - Amazon.com Inc posted a much larger-than-expected loss in the second quarter as it continues its rapid pace of investment in new businesses such as digital content and consumer electronics. Amazon's stock price has dropped 10 percent so far in 2014, with investors leery of betting on its long-term growth at the expense of little to no profit. Amazon is investing heavily in new businesses and hardware products, as it prepares to take on major tech rivals from Apple Inc and Google Inc to Netflix. Chief Financial Officer Tom Szkutak said Amazon had a "tremendous amount of opportunities" and its investments were "certainly impacting short-term results." The company is spending more than $100 million on original video content in the third quarter, a substantial increase compared to last year and the second quarter, Szkutak said.
McDonald's Japan stops sourcing all chicken from China
McDonald's Holdings Co (Japan) said it halted sales of all products that use chicken meat that originates in China on Friday, switching its sourcing completely to Thailand. McDonald's Japan had already stopped selling items that used meat sourced from Shanghai Husi Food Co, a China-based supplier that had been shut down over food safety concerns. Shanghai Husi had supplied about 20 percent of its Chicken McNuggets. "We made this decision in view of the growing concern over McDonald's chicken products made in China," McDonald's Japan Chief Executive Sarah Casanova said in a statement.
Argentine debt mediator says time running short for deal
By Daniel Bases NEW YORK (Reuters) - Less than a week before Argentina could default on its sovereign bonds, the government and holdout creditors have yet to meet face-to-face despite an urgent plea from the U.S. court-appointed mediator on Thursday that they start direct talks. The time for the Republic to avoid default (July 30) is short," mediator Daniel Pollack said in a statement following three hours of shuttle diplomacy. "After speaking with both sides, separately, I proposed and urged direct, face-to-face talks between the parties. The representatives of the bondholders were agreeable to direct talks. The representatives of the Republic declined to engage in direct talks," Pollack said.
Air Algerie jet with 116 on board crashes in Mali
Across US job market, layoffs are becoming rare
Fast food workers prepare to escalate wage demands
CHICAGO (AP) — Fast food workers say they're prepared to escalate their campaign for higher wages and union representation, starting with a national convention in suburban Chicago where more than 1,000 workers are expected to discuss the future of the effort that has spread to dozens of cities in less than two years.
German business confidence drops again
BERLIN (AP) — German business confidence is down for a third month in a row amid ongoing concerns about the economic impact of the crises in Ukraine and Iraq.
Family feud sparks revolt at grocery store chain
WEST BRIDGEWATER, Mass. (AP) — It's been called a David vs. Goliath story, a "Tale of Two Arthurs" and even the "ultimate Greek tragedy," but the characters in this drama are not Biblical or literary figures.
German airlines cancel more Tel Aviv flights
BERLIN (AP) — Germany's two largest airlines say they are not yet resuming flights to Israel even though the European Aviation Safety Agency has lifted a recommendation that airlines refrain from flying to Tel Aviv airport.
BSkyB to take over Italian, German pay TV networks
LONDON (AP) — London-based satellite broadcaster BSkyB has announced agreements to purchase Sky Italia and 57 percent of Sky Deutschland from 21st Century Fox.
Obama wants limits on US company mergers abroad
LOS ANGELES (AP) — Staking out a populist stand ahead of the midterm elections, President Barack Obama on Thursday demanded "economic patriotism" from U.S. corporations that use legal means to avoid U.S. taxes through overseas mergers.
Asian stocks bolstered by US economic data
Very bad week: Airline disasters come in a cluster
WASHINGTON (AP) — Nearly 300 passengers perish when their plane is shot out of the sky. Airlines suspend flights to Israel's largest airport after rocket attacks. Two airliners crash during storms. Aviation has suffered one of its worst weeks in memory, a cluster of disasters spanning three continents.
Grow Your Business by Protecting Your Life With Guardrails
If you want a successful business, you almost always have to go through this intense startup period. When the business gains success and momentum, far too many business owners fail to recognize they can and should shift the intensity and begin to put up some simple guardrails.
SEC Targeting 10 Firms In High-Speed Trading Investigation
(Refiles to correct spelling of Allston in fourth paragraph) By John McCrank NEW YORK, July 17 (Reuters) - The U.S. Securities and Exchange Commission has been seeking information on 10 registered broker dealers as part of an ongoing investigation into high-frequency trading strategies, according to an internal SEC document reviewed by Reuters. The regulator told its staff in late March that it was interested in seeing any tips, complaints, or referrals that they receive concerning the brokers and high frequency trading. ...
Should Your Business Become a B Corporation?
A "Benefit Corporation" (B Corp) is a company that engages in socially beneficial practices and considers how their business decisions will impact their employees, suppliers, community, consumers and the environment. I believe a company doesn't have to be exclusively a nonprofit or a for-profit and a B Corp is the perfect hybrid of the two--a company structured to make a profit while also providing social benefits.
Just Pick Up the F*#@ing Phone
Women in Business Q&A: Jess Lee, CEO and Co-Founder of Polyvore
Jess Lee is Polyvore's CEO. Prior to co-founding Polyvore, Jess was a product manager at Google, where she worked on Google Maps and launched features like My Maps and draggable driving directions. After four years at Google, Jess became hopelessly addicted to making Polyvore sets and decided the only cure was to join the Polyvore team to help build the company. Jess has a degree in computer science from Stanford University. How has your life experience made you the leader you are today? When I was growing up, my mom ran her own small business out of our apartment. Because
SEO Questions Franchise Owners Need to Ask
Asking these questions doesn't always come to mind right away, but these are crucial if you own a franchise. Franchises are constantly growing and by nature have a lot of people working higher positions, so the managers working with you are constantly changing.
Startups: Switzerland's New Graduate Program
By Eva Perrett, Masters Student at Graduate Institute in Geneva Swiss students have dispersed the summer holidays. Among those graduating and entering the job market, a new trend is emerging. More and more young people are founding startups. Idyllically situated with views of Zurich, the Villa Rigi, a former manor house, has bright rooms and a garden that now serve a new purpose: as a headquarters for Swiss startups. Five startups are based here, among them ElectricFeel, a technology spin-off from the university ETH Zürich, with a focus on urban mobility. ...
For Women in Computer Science, Tech Is a Golden Opportunity
Google recently released report acknowledging the lack of diversity in their workforce kicked up a storm. The company says, most of its workforce is white (61%) and male (70%). Worse, a mere 17% of Google's tech workforce is women. By and large, this is not Google's fault.
Someone Left A Loaded Gun In A Walmart Bathroom
Walmart could be the next battleground in the fight over gun rights in retail chains after a loaded revolver was found in the bathroom of a South Carolina store. On the afternoon of Saturday, July 12, a man with a concealed carry permit left his gray Smith & Wesson revolver, loaded with five live .38 caliber rounds, atop the toilet paper dispenser in a stall of the rear men's bathroom of a York, South Carolina Walmart, according to a police report.
The Nature of Work
Young Professionals: Six Keys to Building Your Career
This week two new studies (one by The Economist and one by Quantum Workplace) highlight how rapidly young professionals' view of their careers have changed. While startups continue to be exciting and people desperately want to work for pre-IPO companies, research shows that most Millennials (under the age of 30) are starting to really mature in their career thinking. Here is some data: Young People are Getting more Serious: The days of young people smoking marijuana, hanging around on the street in cities like Berlin, or kids in the UK engaging in binge drinking are slowly coming to an
Subway Worker Claims She Was Forced To Work While Vomiting
A Subway worker in Freeport, Texas, claims she was forced to continue working her shift while suffering from a stomach bug, then was fired the same day. Elizabeth Taff, 24, says she was so sick she could barely stand up straight and vomited several times during her shift on July 11, but her manager refused to let her leave unless she found someone to cover her shift.
To All Corporations: This Is What People Mean When They Talk About Fairness
Google and the German Angst
The other day the German minister of justice, Heiko Maas, was asked in an interview how often he is using Google to crawl the Internet. His answer: "Everyday and in an exorbitant manner. Therefore, unfortunately, I am part of the problem."
Fashion and the Market for Curated Identities
The concept of a curated identity is nothing new, but increased connectivity and consumer conscience has certainly paved the way for what is now a burgeoning market, that ultimately serves to give us more choice, control and flexibility when it comes to what we wear.
The DeWolfe Effect
Have you ever laid awake at night thinking about that entrepreneur who has already forged the path that you are on? I often think of an entrepreneur who has already accomplished much of what I am setting out to do. He is a legend when it comes to real estate brands in New England. His name is Richard DeWolfe.
Culture: Let It Shine in the Tough Times
Here Is The Salary At Which Money Won't Make You Any Happier In Each State
Money can only buy happiness up to a point. But just how much you need to get to that threshold really depends on where you live, according to a new analysis by Doug Short, vice president of research at investment group Advisor Perspectives. Short's analysis found that if you live in a place like Hawaii, where the cost of living is relatively high, you need to make $122,175 per year before some extra cash doesn't really translate into more happiness. In Mississippi, by comparison, the threshold at which more money stops making you happier is a lot lower: $65,850 per
Dodd-Frank at Four
On July 21, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act became law. As with human 4-year-olds, the party parents throw may be a little duller than on the first birthday, but the toddler now appreciates the present in the box more than the box itself. Let's look at what's in the box.
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