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Business

Mother Teresa finally becomes Saint Teresa

According to a September 4 communique from the Vatican, the guests are "are poor and needy people, above all from the dormitories of the Sisters of Mother Teresa and come from all over Italy", including Milan, Bologna, Florence, Naples and from all the houses in Rome.

Business

Irish tech company acquired by Intel

Irish semi-conductor company Movidius has been acquired by Intel in a multi-million euro deal. "When a device is capable of understanding and responding to its environment, entirely new and unprecedented solutions present themselves".

Business

Kim Jong-Un stresses need to bolster nuclear arms: KCNA

Reports out of Seoul and Beijing on Monday offered contrasting sides of a disagreement that intensified in July after the South Korea revealed alongside the United States that a Terminal High Altitude Area Defense (THAAD) battery would be deployed on the peninsula by the end of next year.

Business

Russia ready for decisive steps to resolve island dispute with Japan - Putin

Democratic party. "Listen, does it even matter who hacked this data? ", the former KGB officer told Bloomberg in a wide-ranging interview. "We're gradually heading in the right direction and I don't exclude that we'll be able to agree on something in the near future and present our agreements to the global community", he said.

Business

Obama Weighs In on Athlete's National Anthem Protest

And while he answered questions about foreign policy questions and what was discussed during the summit, he was eventually asked about Kaepernick's protest back in the USA, which Kaepernick said he would continue doing until "there's significant change".

Business

No plan to increase fuel price-NNPC

On his own part, NNPC director said the organization has no plan to increase the pump price of petroleum products, underlining that "there is nothing like that". The former GMDs encouraged NNPC to improve its relationship with its key stakeholders such as the Federal Government, the National Assembly, Host Communities and especially its International Joint Venture Partners.

Business

Klobuchar says drug price increase should spur action

Price hikes for the emergency medicine have made its maker, Mylan, the latest target for patients and politicians infuriated by soaring drug prices. Clinton joins a bipartisan group of legislators, including Republican Iowa Sen. Capitol Hill could get awkward in September if the Senate Judiciary Committee calls for Mylan NV CEO Heather Bresch to testify. "There's no justification for these price hikes".

Business

Bankers welcome Raghuram Rajan's successor Urjit Patel

While the outgoing RBI governor is known as somebody who openly took on the government's critical reform initiatives in a year ago or so, Patel is known as someone who has so far mainly stuck to his mandate and commented mostly on monetary policy-related issues.

Business

Hanjin Bankruptcy Sends Shockwaves Through Global Shipping

Also affected are ships not owned by Hanjin but contracted by it or belonging to its alliance members, along with cargo and containers on board those vessels. The ministry said in a statement it is taking measures to ensure that cargo-related services for the troubled shipper's ships will resume. The National Retail Federation, the world's largest retail trade association, wrote to U.S.

Business

With ships stranded, Hanjin seeks stay orders and bankruptcy protection

Hanjin has 141 ships, of which 128 are operating. Last week, much of Hanjin Shipping's container vessels were blocked to offload at ports, leaving many manufacturers worrying about the fate of their cargo. With the country's largest ocean shipper idled and the shipbuilding industry also in crisis, a government task force is directing moves to salvage the container shipping sector, which like ocean shipping worldwide has been battered by weak demand and overcapacity.

Business

Sports Direct scraps zero hours contracts after barrage of criticism

The retailer will now offer its directly-employed casual retail employees the option of either a zero-hours contract or a permanent contract with a "guaranteed number of minimum hours". And they said staff were subjected to lengthy searches on arriving and leaving the workplace, for which they were not paid, meaning many were paid less than the National Minimum Wage.

Business

Modi meets May, says United Kingdom as important as ever

Besides a host of energy-related projects, the CPEC consists of rail, road and pipelines to ferry oil and gas from Gwadar port on Arabian Sea to Kashghar in China's Muslim-dominated Xinjiang province through PoK. Modi invited May to visit India. "Cultural and people-to-people ties have also been increasing", Swarup said. Swarup quoting PM Modi said on Twitter, "We agreed to take several decisions today to move on the pledge of our partnership".

Business

Dollar Holds Gain as Fed Rate-Hike Odds Weather Hiring Slowdown

The official unemployment rate, based on a separate survey of households, remained at 4.9 per cent. Paul Ashworth of Capital Economics says the Fed will likely "wait another couple of months", to make sure that the numbers rebound in September, and that the August numbers are revised higher.

Business

Bayer in advanced talks with Monsanto for deal

Its initial offer of $122 a share in May was rejected by the United States firm for being "financially inadequate". When the Germans came back with a improved its bid to $125 per share, it still wasn't good enough. The crop and seed industry is being reshaped by a series of large transactions that may end up leaving just a few global players who can offer a comprehensive range of products and services to farmers.

Business

MPs met separatists in individual capacity: Rajnath

Talking about the motive behind the visit, the Home Minister said Parliament, which is the supreme "panchayat" of the country, is very serious about the situation in Kashmir and hence made a decision to send a delegation of its members for talks.

Business

South Korea moves to minimize disruption from shipper's woes

The world's seventh largest ocean shipper, Hanjin Shipping is part of the Seoul-based Hanjin Group , a huge, family-dominated conglomerate, or chaebol, that also includes Korean Air. With about 5 percent of ships in the global trading fleet sitting idle, there is plenty of room to take over Hanjin's capacity and carriers already are discussing the possibility of adding ships, he said.

Business

British Airways computer outage causes flight delays around the world

Protesters swam across a dock and "occupied" the runway at London City Airport. "We're sorry for the delays our customers are facing as they check-in for flights". The computer glitch forced airport staff to manually process flight checks-ins, with passengers given hand-written boarding passes. One passenger, flying from Edinburgh to London Heathrow this morning, told The Sun Online they were delayed for over an hour.

Business

Barack Obama Warns China Of 'Consequences' Over Behaviour In South China Sea

US President Barack Obama and Russian President Vladimir Putin have met in China, after American and Russian diplomats failed to reach an agreement over easing the fighting in Syria . NATO Turkey ally on Sunday said rebels it was backing had gained control of all areas on its border that had been held by the jihadists, depriving the ultra-hardline Islamist group of its main route to the outside world.

Business

Britain vows to strengthen security, defense cooperation with European Union after Brexit

John Penrose said: "Brexit must mean Brexit and it is up to every red-blooded democrat, no matter which side they were on before the result was known, to accept the clear electoral verdict and to pull together to deliver it as best we can".

Business

James Packer scores more Macau gaming tables than rivals Wynn and Adelson

The NASDAQ-listed firm, which operated at the Cotai Strip property owned by Las Vegas Sands Corporation subsidiary Sands China Limited in partnership with King's Gaming Promotion Limited, stated that it took the decision "as the current rolling chip turnover volume does not warrant the operation of five VIP gaming rooms" in Macau and that it now expected to generate savings of around $750,000 a year.

Business

U.S. rate guesswork weighs on stock markets

He told Bloomberg TV that the USA job market was close to full strength and added the economy had withstood the challenge of a strong dollar. Gold slid to a near five-week low on Monday after comments from top Federal Reserve officials fuelled speculation that U.S.

Business

USA stocks rise as Yellen points to early rate hike

In December, the Fed raised its benchmark rate modestly in response to a brighter economic picture, notably a job market nearing full health. The Fed signaled in June that it still expected to raise rates twice this year, but investors have been doubtful in part because policymakers appear sharply divided over whether to hike rates soon or take a more cautious approach.

Business

Sensex recovers 102 points in early trade

Jayant Manglik, president, retail distribution, Religare Securities said, "Nifty upheld its consolidation bias on Friday as well and ended marginally higher, tracking renewed buying interest in select index majors in second half". The gauge finally settled 53.66 points or 0.19 per cent down at 27,782.25. Foreign portfolio investors (FPIs) bought shares worth a net Rs 390.63 crore yesterday, as per provisional data released by the stock exchanges.

Business

US Payroll Growth Slowed in August; Jobless Rate Held Steady

Still, record numbers of workers remain out of the labour market altogether, widening the gap between the haves and the have-nots and depressing wage growth. The Institute for Supply Management's gauge of USA manufacturing activity dropped more than expected, falling into contraction territory, while employment in construction and manufacturing shed a combined 20,000 jobs last month, and the average workweek in manufacturing declined by 0.2 hour to 40.6 hours.

Business

Northern Syria cleared of IS, Kurdish militia: Erdogan

A Turkish soldier was killed last week inside Syria when his tank was hit by a rocket fired by the YPG. The villages - Zavgar, Tal al-Agbar and Kiliyeh - lie in territory where Turkish-backed forces have been fighting Islamic State. On Wednesday only the occasional thud of explosions in the distance was audible along the Turkish frontier. The autonomy-seeking Kurdistan Workers Party (PKK) has launched a spate of attacks since a ceasefire broke down a year ago, returning to arms in its ...

Business

Almost 5000 Allina Health nurses begin open-ended strike

Representatives for the nurses and Allina said the talks were ongoing Friday night. They continue to disagree on nurses' health insurance , though spokesmen for both groups said that progress was made regarding nurses' concerns about workplace security.

Business

Philippines declares 'state of lawlessness' after bomb attack

Duterte was was safe and at a police station after the blast, his son Paolo Duterte, the vice mayor of the city on the island of Mindanao, told Reuters . Abu Sayyaf spokesman Abu Rami has said that the attack is a sign of unity of groups that have pledged their allegiance to Daesh, and warned of similar strikes.

Business

Tropical Storm Hermine Winds Up to Batter Northeast

In Connecticut, a Tropical Storm Warning remains in effect along the coast, where a risky storm surge and wind gusts up to 40 miles per hour are possible. Nearly as the storm left Florida behind, authorities were already warning people along the coast to prepare. But, the move could also trigger Hermine to develop hurricane-force winds tonight and Monday due to the warmer waters it will travel over, which could push water to the shores even harder.

Business

Quake shakes swath of Midwest from Nebraska to Texas

Geological Survey. Not all of the state's wells operate simultaneously, said Matt Skinner, a spokesman for the Oklahoma Corporation Commission. Oklahoma Gov. The man was treated at a hospital and released. But the OGS report said fracking is responsible for only a small percentage of the total volume of wastewater injected into disposal wells.

Business

Clinton Hits Back at Trump's Questions About Her Stamina

CLEVELAND Their planes parked on the same tarmac, Donald Trump and Hillary Clinton made competing Labor Day pitches in OH on Monday, setting the stage for a critical month in their testy presidential campaign . That's sure to fuel critics' contentions that Clinton , 68, has serious health problems, although Clinton herself dismissed such "conspiracy theories" when asked about them, chalking up her coughing to seasonal allergies .

Business

Yellen speech raises likelihood of an imminent Fed rate hike

Her comments sent the pound surging more than 0.5% to 1.326 against the USA dollar. "Right now, the market has a September 25-basis-point hike priced in with about one-in-four probability, and I think in light of those comments the true number should be closer to 50-50, and December should be north of 50 percent", LeBas said.

Business

RBA Rate Decision: Reserve Bank Keeps Overnight Rate Unchanged

The currency's strength has been a headwind for the Australian economy, as was stated by the bank, but with the prospects of potential rate hike/s by the Fed by year end, some pressure might have been taken off. Sterling hovered around its strongest level in nearly two months versus the dollar, after rising as much as 0.6% on Monday. "To be sure, he is unlikely to change his policy framework given that he was preaching the benefit of stimulus".

Business

Galaxy Note 7 shipments delayed - are exploding phones to blame?

Samsung has previously said demand for the new Galaxy Note phone is far exceeding demand, creating a supply shortage and forcing it to push back the launch of the phone in some markets. " Samsung almost achieves smartphone perfection", ZDNet said in its review of the Galaxy Note 7 today. In addition, Samsung will be halting all shipments of the smartphone to the top three carriers in its home country of South Korea, namely SK Telecom, KT and LG Uplus.

Business

Security Council arrives in South Sudan for negotiations

In the wake of recent violence, the UN Security Council authorized the deployment of an additional 4,000 troops from East Africa with a stronger mandate than the 13,000-strong UN peacekeeping mission UNMISS. The UN Security Council subsequently threatened to impose sanctions and a weapons embargo against the country, where about 13,500 UN peacekeepers now are deployed.

Business

Hanjin Files for Bankruptcy in U.S.

Hanjin, the world's seventh and South Korea's largest shipping firm sought court protection after creditors rejected its latest plan for dealing with a hulking $5.37 billion debt. Hanjin Shipping would have to pay overdue payments to run its fleet, but without immediate cash injection from Hanjin Group , disruptions in the trade front will likely worsen.


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