Source Match Industrial News
The Shanghai Stock Exchange has secured approvals from regulators to set up an international trading center in the free-trade zone, the chairman of the bourse said on Saturday. The move could pave the way for more foreign investors to tap the world's fourth-largest stock market by capitalization and also for foreign companies to issue shares in the world's second-largest economy. Gui Minjie, chairman of the Shanghai Stock Exchange, said significant progress has been made in recent years allowing Chinese firms to list on overseas markets. However, no foreign companies are allowed to issue shares on Chinese bourses.
France's competition watchdog estimates it could take nine months to scrutinize a possible takeover of French telecoms operator SFR by French conglomerate Bouygues or rival Numericable , its head said in an interview published on Saturday. Bouygues, with interests from telecoms to construction, on Thursday offered 10.5 billion euros ($14.4 billion) in cash for 46 percent of Vivendi's SFR. A competing bid from French cable operator Numericable included 11 billion euros in cash, granting Vivendi a 32 percent stake in the new company, sources said earlier. A tie-up between SFR and Bouygues would create Europe's seventh-biggest telecoms group by sales.
One of four business jets converted to train NASA astronauts to land the space shuttle is on final approach to the Alabama home of Space Camp, pending the result of the U.S. Space & Rocket Center's first crowd-funding campaign. Currently on the ground at Birmingham-Shuttlesworth International Airport, all that stands between the STA and its installment in the center's Shuttle Park are the funds needed to prepare its display. "The U.S. Space & Rocket Center Foundation, along with the help of some amazing Space Camp alumni, are aiming to raise $70,000 for this project, the total cost of which is $192,000," Trevor Daniels, spokesman for the effort, said in a video posted on the "Land the STA" Indiegogo page. At higher pledge levels, donors receive flight suits, behind-the-scenes tours of the U.S. Space & Rocket Center, lifetime memberships at the museum or even reservations to attend adult/family Space Camp.
Famous astronomer Carl Sagan brought the wonders of the universe to people living on the planet he dubbed the "pale blue dot." Although Sagan died in 1996 due to complications from a rare bone-marrow disease when he was 62, his influence on the public still lives on today. His groundbreaking miniseries, "Cosmos: A Personal Voyage," used visual effects and down-to-earth commentary to bring science into people's homes. Hosted by astrophysicist Neil deGrasse Tyson, the "Cosmos" reboot uses Sagan's unique brand of education to bring his message of science literacy to a new generation of viewers.
For years, Carl Sagan brought science into homes around the United States with his TV shows and books. Some of the most famous scientists working today had life-changing experiences with Sagan, and other people who never met him still felt his influence from the media he created. Scientists and other people who were touched by Carl Sagan's life and work shared some memories of the famous scientist: "I was just a 17-year-old kid from the Bronx with dreams of becoming a scientist, and somehow, the world's most famous astronomer found time to invite me to Ithaca in upstate New York and spend a Saturday with him," Tyson said during the first episode of "Cosmos: A Spacetime Odyssey," a reboot of Sagan's "Cosmos: A Personal Voyage." "I remember that snowy day like it was yesterday." [See Carl Sagan's legacy in photos]
By Kevin Yao and Adam Rose BEIJING (Reuters) - China's exports unexpectedly tumbled in February, swinging the trade balance into deficit and adding to fears of a slowdown in the world's second-largest economy despite the Lunar New Year holidays being blamed for the slide. A resilient Chinese economy is good news for the world, particularly for major commodity exporters such as Australia.
By Alwyn Scott and Tim Hepher NEW YORK (Reuters) - Boeing Co said on Friday that "hairline cracks" had been discovered in the wings of about 40 787 Dreamliners that are in production, marking another setback for the company's newest jet. The cracks have not been found on planes that are in use by airlines and therefore pose no safety risk, Boeing said, adding the problem also will not alter Boeing's plans to deliver 110 787s this year. However, Boeing said the cracks, which also occurred on the larger 787-9 model currently undergoing flight tests, could delay by a few weeks the date when airlines can take delivery of their new planes. The disclosure raised questions about repair costs and a possible minor increase in the weight of the plane, but did not seem to spell major trouble for Boeing, industry experts said.
By Richard Weizel NEW HAVEN, Connecticut (Reuters) - A federal jury on Friday found former Jefferies Group Inc trader Jesse Litvak guilty of defrauding clients on mortgage bond trades made after the financial crisis. Litvak, 39, was convicted on all 15 counts he faced, including 10 of securities fraud. He faced up to 20 years in prison on each securities fraud count. Prosecutors accused Litvak of cheating clients out of more than $2 million between 2009 and 2011 by inflating bond prices, lying about how much Jefferies paid for them and inventing sellers.
By Barani Krishnan NEW YORK (Reuters) - Famed oil bull Andy Hall's hedge fund rose nearly 8 percent in February in its biggest monthly gain in 2-1/2 years, boosted by a rally in crude oil that could help Occidental Petroleum's chances of selling its stake in the fund. Occidental , which acquired a 20 percent stake in Hall's Connecticut-based Astenbeck fund and trading house Phibro in 2009, said last month it wanted to reduce proprietary trading activities. Oxy, as it is known, has not said anything specific about selling Astenbeck or Phibro, which does some of its proprietary trading, mainly in crude oil and select commodities such as natural gas, platinum and corn.
That bet has helped equities shrug off bearish data and geopolitical uncertainties in Ukraine, taking the S&P 500 to a series of record highs. "We're hoping the payroll report means we're on a stronger footing going ahead and that we can get more robust growth going forward," said Michael Mullaney, chief investment officer of Fiduciary Trust Co in Boston.
Greece and its international lenders will miss a self-imposed March 10 deadline to clinch a deal that will release the next tranche of the country's rescue loans, three senior Greek government sources said late on Friday. Greece and representatives of the European Union (EU) and the International Monetary Fund (IMF) had hoped to conclude the latest review of the country's reform progress under the terms of its international bailout by Monday, when euro zone finance ministers meet in Brussels.
Years ago, when I worked in the check processing department of a now defunct Philadelphia bank, I dreamt of one day becoming my own boss while working at home. The bank was an unusually strict sort of workplace. In my case I worked in a small room with my back to a low-level supervisor, an elderly woman, Miss Stiff, who wore a white Mennonite bonnet. Another employee sat a side desk, although he was rarely present. Usually it was just me and Miss Stiff, which meant no talking ever, and no unnecessary breaks or staying out too long for lunch.
Ellen's selfie stunt produced the most retweeted image of all time! Whether you like the fact that it was a staged product placement is not the point because it was brilliant. What I think is even more brilliant was LG's real time content marketing response suggesting a G2 would have enabled Ellen to take the selfie herself.
A whistleblower will be paid $63.9 million for providing tips that led to JPMorgan Chase & Co's agreement to pay $614 million and tighten oversight to resolve charges that it defrauded the government into insuring flawed home loans. The payment to the whistleblower, Keith Edwards, was disclosed on Friday in a filing with the U.S. district court in Manhattan that formally ended the case. In the February 4 settlement, JPMorgan admitted that for more than a decade it submitted thousands of mortgages for insurance by the Federal Housing Administration or the Department of Veterans Affairs that did not qualify for government guarantees. JPMorgan also admitted that it had failed to tell the agencies that its own internal reviews had turned up problems.
"Exodus on the Parkway," a new 36-page paper on the impact of tax rates on New Jersey's economic health begins by noting that it "does not provide proof or hard evidence that high income or high net worth residents are leaving New Jersey because of high tax rates." (Emphasis added.) It's odd, then, that the report goes on to build a case counter to that finding, implying that New Jersey's wealthy are frequently signing mortgage documents and hiring moving vans in order to pay less in taxes.
EU scientists have found that the new car coolant at the centre of a dispute that has pitched regulators against Germany and its luxury carmaker Daimler does not pose any serious safety risks, the European Commission said on Friday. The Commission, the EU executive, has launched legal proceedings against Germany over Daimler's refusal to stop using an old-style coolant that has global warming potential more than 1,000 times greater than that of carbon dioxide. The suggested substitute, which has roughly the same impact as carbon dioxide, is the R1234yf coolant developed by U.S. conglomerate Honeywell in partnership with Dupont.
It would be Ayn Rand's dream come true: separate states for rich people and poor people. A proposal to split California into six states, introduced by billionaire investor Tim Draper in December, would formally create state lines between the haves and the have-nots. "You'd be creating one exceptionally wealthy state and others with dire poverty," Corey Cook, a political science professor at the University of San Francisco, said to The Huffington Post. "You'd create massive inequality. ...
From the ancient Egyptian astronomer Hypatia to modern-day astrophysicist Stephen Hawking, physicists throughout history are getting the artist's treatment in a new set of illustrations honoring the thinkers' contributions to science. Dr. Prateek Lala, a physician based in Canada, has recently crafted playful images using the names of famous scientists to show, in logo form, what they gave to theoretical physics. Called "science typographies" or "logotypes," some of the more striking images include Isaac Newton's apple and Edwin Hubble with the Hubble Space Telescope that eventually flew his name into space. Lala started making his images in 2013 after speaking with a friend about the ways in which people learn, and how to get everyone interested in scientific research.
One of the saddest truths about the so-called economic recovery is that the middle-class jobs lost in the recession are being replaced by low-paying ones. But the even sadder truth is that the situation isn't going to improve for a while. Over the next decade, a significant number of the fastest-growing jobs in America will be in low-wage sectors, according to projections by the Bureau of Labor Statistics. ...
Could San Francisco's economy make a case for Obama's proposed minimum wage hike? New research suggests that the city's decision to raise the minimum wage above federal standards a decade ago has paid off and may be a model for change at the federal level. Published as a book by University of California, Berkeley economists in January, "When Mandates Work: Raising Labor Standards at the Local Level" takes aim at one of the main arguments levied against raising the national minimum wage from $7.25 to Obama's proposed $10. ...
Obamacare has not yet turned America into a nation of part-time workers, as many of its strongest critics have long said it would. In fact, the opposite seems to be happening, according to new government numbers published Friday: The number of part-time jobs is actually shrinking, and full-time jobs are being created instead. Specifically, the number of part-time workers in the U.S. fell in February to about 27.3 million, the Bureau of Labor Statistics reported on Friday. That number is down by about 300,000 since March 2010, when the Affordable Care Act, aka Obamacare, became law. ...