Business Topics

Oct 2, 2013

Nikkei tumbles over 2% on futures-led selling

The Nikkei average tumbled to the lowest closing level in more than three weeks Wednesday, pressured by the yen’s rise and futures-led selling amid uncertainty over the U.S. fiscal deadlock. The Nikkei 225 closed down 314.23 points, or 2.17 percent, at 14,170.49, the lowest ...

'Frack off': U.K. energy debate erupts

| Oct 2, 2013

'Frack off': U.K. energy debate erupts

by Karla Adam

This might seem a bizarre place for a battle over energy policy in Britain. A quaint village with a single pub, a well-attended tea room and a population of about 2,000, Balcombe has become the focal point of a heated debate over hydraulic fracturing, ...

Oct 2, 2013

Investors unfazed by dispute on Capitol Hill

Investors stayed calm on the first day of a partial shutdown of the U.S. government Tuesday and sent the stock market modestly higher. A long-running dispute in Washington over President Barack Obama’s health care law caused a deadlock over the U.S. budget, forcing about ...

Oct 2, 2013

Many countries ready to take leap into shale

The U.S. and Canada are the only countries so far to produce shale oil and gas in commercial quantities, but other countries are opening up to exploration, leaving resisting nations isolated. Starting exploration Poland is one of the leaders in Europe on shale gas. ...

Oct 2, 2013

Casino mogul loses Macau hookers suit

Billionaire casino mogul Sheldon Adelson has lost a defamation lawsuit against the National Jewish Democratic Council. Adelson asked for $60 million in damages, arguing the council libeled him by saying his political contributions were sullied by links to prostitution. On Monday, a federal judge ...

Oct 2, 2013

New York City Opera files for bankruptcy

The New York City Opera said Tuesday it would close and file for bankruptcy after 70 years, having failed to secure desperately needed millions through an emergency fundraising appeal. The second opera company in the city considered the cultural capital of the U.S. opened ...

Oct 2, 2013

Freddie deal to cost banks $1.3 billion

Mortgage finance giant Freddie Mac said Tuesday that three of the country’s largest banks — Wells Fargo, Citigroup and SunTrust Banks — had agreed to pay a total of $1.3 billion to resolve claims on millions of home loans that have soured or may ...

Oct 2, 2013

Packer inks movie deal with Warner

A consortium led by Australian billionaire James Packer and U.S. director Brett Ratner has struck a reported $450 million co-financing deal with Warner Bros. Entertainment to cover the production of 75 movies. Casino mogul Packer said the multiyear arrangement with his investment vehicle, RatPac-Dune ...

Oct 1, 2013

'Tankan' logs strong corporate optimism

by Jun Hongo

In what figured to be the final push for Prime Minister Shinzo Abe to go ahead with raising the consumption tax to 8 percent in April, the Bank of Japan's "tankan" report shows a sharp increase in business sentiment among manufacturers.