• Angela Merkel tops Forbes Most Powerful Women list for third successive year

  German chancellor Angela Merkel has been named as the most powerful woman in the world for the third successive year by business magazine Forbes. Brazilian President Dilma Rousseff was ranked second with Melinda Gates, co-chairman of the Bill and Melinda Gates foundation in third. According to the Independent, the Queen, rankedat 40, is the oldest woman on the list and has dropped 12 places ...

• Finance head Carrion to run for IOC president

  Finance Commission head Richard Carrion has joined the race to succeed International Olympic Committee (IOC) president Jacques Rogge. The Puerto Rican will run against Thomas Bach, Ng Ser Miang and Wu Ching-kuo, who has yet to officially declare his intention to run, reports Xinhua. Carrion, 60, has no sporting background. He is chairman of a financial holding company and since 2002 has ...

• Japanese economy has begun to recover central bank

  Japan's central bank said Wednesday that it will continue pursuing its current stimulus program and that the country's economy "has begun to recover" thanks to a reversal in the decline of exports, which account for 40 percent of Japanese GDP. "Domestic demand remains resilient due to the effects of the monetary relaxation measures" and the recently-approved stimulus policies, the Bank of Japan ...

• Madhya Pradesh annual plan for 2013-14 finalized at Rs. 35500 crore

  The Planning Commission has approved an annual plan outlay of Rs. 35,500 crore for Madhya Pradesh for the financial year 2013-14. The plan size was finalized in a meeting between Planning Commission Deputy Chairman Montek Singh Ahluwalia and Madhya Pradesh Chief Minister Shivraj Singh Chouhan here last evening. In his comments on the performance of the State, Ahluwalia said the State has done ...

• Childrens Place Spikes as Guidance Is Raised

  Children's Place said net income fell 22% in the 13-week quarter to $19.3 million, or 83 cents a share. Net sales dropped 3.5% to $423.2 million. Comparable-retail sales declined 5.5%, the company said. Analysts expected Children's Place to earn 61 cents a share on revenue of $416.6 ...

• Bernanke Sparks Massive Sell Off

  May 23, 2013 Fed Chairman Bernanke and weak Chinese data rattle markets. Japan’s Nikkei tumbles over 7 percent – its biggest one-day fall in two years – shedding over 1,000 points. Europe deeply in the red ...

• Being Blind To Financial Need Is It Worth It

  Millions of students rely on loans and grants for their studies. But with universities strapped for cash, fewer schools are able to admit students regardless of their financial need. Host Michel Martin asks the President of Iowa's Grinnell College, Dr. Raynard Kington, why his school considered putting a halt to need-blind ...

• Home Sales Selling at Fastest Pace Dollar Rallies to Highs on Bernanke’s Comments Stocks Fall on Concern Fed will Scale Back Stimulus

  CNBC ) Strong demand and limited supply have been boosting home sales to hit a pace that is nearly three times as fast as normal. Maryland real estate agent Jane Fairweather said homes in her market are selling at an average of 23 days because inventories are down and demand is strong. But don't expect any volatility within the housing market from interest rates. ';I don’t think ...

• BDC recognizes Aboriginal entrepreneurship at annual E-Spirit Business Plan Competition awards ceremony

  , MB, "Frisbis" team from Coldstream, BC, and the "Onimiki" team from Maniwaki, QC, at a ceremony held at Thompson Rivers University in Kamloops. A total of 34 teams of Aboriginal students from ...

• Visa Inc. hires JP Morgan Chases Ryan McInerney as president

  Payments giant Visa Inc. hired Ryan McInerney as president, reporting to CEO Charlie Scharf. McInerney was CEO of consumer banking at JP Morgan Chase (NYSE: JPM), overseeing a network of 5,600 bank branches and some 75,000 employees. That unit had about $14 billion in revenue. He steps into a slightly reconfigured president's role that has been vacant a couple of months since John Partridge ...

• Financial Stocks Citi leads financial stocks lower

  NEW YORK (MarketWatch) - Financial stocks tipped lower Thursday, tracking a drop in the broader global equities markets on concerns the Federal Reserve will reduce its bond-buying program and a drop in China's manufacturing index for ...

• HSBC says Robertson to head remuneration committee

  LONDON | Thu May 23, 2013 11:08am EDT LONDON May 23 (Reuters) - HSBC Holdings named Simon Robertson, a former Goldman Sachs banker and chairman of Rolls-Royce, as the new chairman of its remuneration committee to replace John Thornton. Thornton, another former Goldman banker, this week said he would step down as head of the remuneration committee and HSBC said on Thursday that ...

• PayPal Study Reveals Majority of Canadians Feel Trapped by Their Wallet

  May 23, 2013 /CNW/ - PayPal today revealed the findings of a global study that paints a dim future for the wallet, especially in the Canadian market. Almost nine in ten (87%) Canadians indicated they wished they did not have to carry a wallet followed by a vast majority (83%) of respondents across five countries ...

• Private equity deals hit big-time here

  Will Pittsburgh rue the day the private equity firms came to play? On Thursday, news broke that Warrendale-based rue21 Inc. is being bought by New York-based Apax Partners for $1.1 billion. Heres the scoop: Apax was an early investor in the teen clothing retailer and after rue21s 2009 IPO, two of the private equity firms executives subsequently cashed out large amounts of their holdings to the ...

• Fitch Rates Central Finances Listed Senior Debt Final A+

  Fitch: Sub-Saharan Africa Has Gradual Upgrade Potential Fitch Ratings says in a newly-published report that targeted reforms and policy initiatives could see Sub-Saharan Africa's (SSA) sub-investment grade ratings gradually upgraded, despite per capita income falling well short of peers. The challenge for Africa from a rating perspective is the low level of GDP per capita - most SSA ...

• Video Scoring financial aid for college

  Applying for student loans can be complicated and confusing. CBS News Business Analyst Jill Schlesinger provides some of the most effective tools and tips for getting financial ...

• Lehman cashes in AvalonBay stock

  Lehman Brothers will sell stock AvalonBay Communities Inc. gave it as part of its acquisition of Archstone Enterprise LP in February. Juniper Enterprise LP, a Lehman subsidiary, will sell 7.87 million shares of AvalonBay stock at $137 per share. That's about half the 14.9 million shares of AvalonBay Lehman got as part of the transaction. The sale will not affect AvalonBay shares outstanding, ...

• Deutsche Bank says confident for 2013

  FRANKFURT: Deutsche Bank, Germany's biggest lender, expressed confidence on Thursday for business this year but warned of uncertainties connected with the regulatory environment and the increasingly cloudy economic outlook. Speaking to shareholders at the annual meeting, the two co-chief ...

• Walker Dunlop focuses on bridge financing proprietary capital

  Willy Walker Walker & Dunlop recently hired Brian Casey to join the company's Proprietary Capital Group. Casey will be responsible for managing the proprietary fixed rate and bridge loan funds, both still in development, GlobeSt.com reports. GlobeSt.com interviewed Willy Walker about the future of these programs with Casey at the ...

• U.N. mine clearing work under way in Mali

  An anti-land mine advocacy group said it would work with a U.N. stabilization mission in Mali to clear unexploded ordnance from the country. The U.N. Mine Action Service said it was preparing to deploy an African-led mission to work with the U.N. stabilization mission in Mali on mine abatement. UNMAS set up an office in Mali in January, the same month the government called in French support to ...

• Square launches mobile payments in Japan

  Square Inc. CEO Jack Dorsey. Square Inc. has announced available of its mobile-payments system in Japan, its first market outside the United States. Merchants in the country will be able to get a Square credit card reader for free and accept payments for 3.25 percent of each transaction. The company is working in a partnership with Sumitomo Mitsui Card Corp. in the country, where people have a ...

• General Electric considering IPO for finance business - CEO

  is considering spinning off parts of its financial arm, GE Capital, through an initial public offering as part of its plan to reduce the size of the business, Chief Executive Jeffrey Immelt said."The capital markets are very receptive to IPOs," Immelt said at the Electrical Products Group Conference in Florida on Wednesday. "I think you basically have as good a setting as you ...

• MoneyGram CEO Focused on Growth

  When asked what separates Moneygram from its competitors, Patsley told Malandrino, "we have a brand message that resonates with the consumer. Convenience is so ...

• Do Not Chase All Cheap Bank Stocks KBW

  According to KBW analyst Christopher Mutascio, investors have been buying stocks that trade at low price-to-tangible book multiples on the premise that such stocks would have more upside as they are currently "under-earning." "That may or may not be the case," the analyst wrote, adding, "Some banks may be 'cheap' on a P/TBV measure because they have materially ...

• Immelt Pushes Harder to Shrink GE Capital

  has made great progress in shrinking GE Capital, and CEO Jeff Immelt on Tuesday said the company was considering spinoffs through public offerings as a way to meet its ...

• Stocks Mostly Higher As Traders Digest Bernankes Testimony - U.S. Commentary

  With traders digesting remarks from Federal Reserve Chairman Ben Bernanke, stocks have seen considerable volatility over the course of the trading day on Wednesday but are moving mostly higher in mid-day trading. The major averages have moved to the upside in recent trading and are currently posting notable gains. The Dow is up 112.66 points or 0.7 percent at 15,500.24, the Nasdaq is up 19.36 ...

• RPT-S.Africas rand firms as central bank holds rates

  JOHANNESBURG | Thu May 23, 2013 9:56am EDT JOHANNESBURG May 23 (Reuters) - South Africa's rand firmed against the dollar on Thursday after the central bank kept the benchmark repo rate unchanged at 5.0 percent and Governor Gill Marcus said the market should not price in a rate cut. The rand gained 0.40 percent at 9.54 against the dollar from 9.5815/dlr just before the central bank ...

• HSBC China’s net profit up 8.6 in 2012

  /enpproperty--> HSBC Bank (China)'s net profit increased 8.6 percent year-on-year in 2012 to 4.48 billion yuan ($723.57 million), according to the lender's financial report released on Wednesday. By the end of 2012, the total value of loans of HSBC Bank (China) reached 131.9 billion yuan, up 18.6 percent year-on-year, while the total value of deposits was at 182.3 billion yuan, up ...

• TAB Boards International Inc. Welcomes Executives in Mississauga Etobicoke to Lunch and Learn

  May 23, 2013 /CNW/ - With the challenges facing small business owners today, TAB Boards International, Inc. brings additional resources to the Ontario economy starting this month. Owners of private small businesses can attend a General Information Meeting over lunch ...

• Huntington CFO Don Kimble headed to KeyCorp

  Huntington CFO Don Kimble will resign and take the same role at KeyCorp beginning June 3. Huntington Bancshares Inc. CFO Don Kimble is leaving the Columbus bank to play the same executive role at KeyCorp. Huntington (NASDAQ:HBAN) told investors after markets closed Wednesday that Kimble, its chief financial officer since 2004 and senior executive vice president since 2009, would resign to join a ...

• Yesterday Bernanke gave a master class on poor communication

  Yesterday, Bernanke gave a master class on poor communication. At 15:00 the first comments to hit the wires related to the need for continued monetary easing given the vulnerability of the economy. Equities hit new highs and the USD fell sharply as traders started to adjust their expectations for any type of withdrawal in the short term. Then, at 15:30, Bernanke said that the withdrawal process ...

• HIGHLIGHTS-South African central bank comments on interest rates

  Thu May 23, 2013 9:35am EDT (Adds comments on labour relations) JOHANNESBURG May 23 (Reuters) - Below are comments from South African Reserve Bank Governor Gill Marcus at her latest decision on the repo rate. INFLATION "Inflation is now expected to average 0.1 percentage points lower in 2013 and 2014 at 5.8 percent and 5.2 percent, respectively, and to average 5.0 percent in ...

• Bernanke says interest rates will remain low

  Federal Reserve System Chairman Benjamin Bernanke said the bank will likely keep interest rates low for now Federal Reserve System Chairman Benjamin Bernanke said the bank will likely keep interest rates low for now, but could reduce the amount of bonds it is buying. Bernanke, in remarks prepared for his appearance before Congress Wednesday, also said the federal governments budget cuts are ...

• S.Africa central bank outlook for mining sector remains bleak

  PRTEORIA | Thu May 23, 2013 9:11am EDT PRTEORIA May 23 (Reuters) - For highlights of South African Reserve Bank Governor Gill Marcus' news conference after the Bank's policy meeting, and quotes from her speech, please double-click on (Reporting by Johannesburg ...

• UPDATE 2-U.S. central bank not that close to winding down stimulus -Bullard

  Thu May 23, 2013 9:10am EDT By Marc Jones LONDON May 23 (Reuters) - A senior U.S. central banker sought to give reassurance on Thursday that the Fed is in no hurry to start winding down its economic stimulus after comments by chairman Ben Bernanke sent stock markets tumbling. James Bullard, president of the Federal Reserve Bank of St. Louis, said on Thursday he did not think the Fed was ...

• S.Africa central bank sees breach of inflation target in Q3 of 2013

  PRETORIA | Thu May 23, 2013 9:07am EDT PRETORIA May 23 (Reuters) - For highlights of South African Reserve Bank Governor Gill Marcus' news conference after the Bank's policy meeting, and quotes from her speech, please double-click on (Reporting by Johannesburg ...

• Starwood Upgraded as Capital Return Eyed

  "One of the key lodging themes out of Q1 earnings was that a number of companies including Starwood, Marriott, Hyatt, Strategic and Ryman Hospitality, noted either a material slowdown in near-term group bookings or saw group cancellations. While management teams were hopeful that this was a 'blip,' we have continued to see group business in the U.S. materially underperform ...

• CANADA STOCKS-TSX may open lower on Bernankes comments

  Thu May 23, 2013 8:48am EDT May 23 (Reuters) - Canada's main stock index looked set to open lower on Thursday as comments from Federal Reserve Chairman Ben Bernanke raised fears the U.S. central bank would end its bond-buying program sooner-than-expected. TOP STORIES * Toronto-Dominion Bank quarterly profit rose 2 percent, driven by stronger wholesale banking income, it said. * The European ...

• Scott Walker DNA proposal goes to finance committee

  Madison -- The Legislature's powerful finance committee is expected to review Gov. Scott Walker's plan to take DNA from anyone arrested for a felony and anyone convicted of any crime. Right now Wisconsin collects DNA only from convicted felons and sex offenders. Walker's executive budget lays out nearly $6 million for the initiative. The money largely would come from an existing ...

• Bernanke growth fears send shares lower

  London - Concerns over the future of the US Federal Reserve's monetary stimulus and weak Chinese factory data sent shares sharply lower and safe haven currencies like the yen higher on ...

• Weekly Radar Central banks try to regain some control

  Central banks may be regaining some two-way control over global markets that had started to behave like a one-way bet. After flagging some unease earlier this month that frothy markets were assuming endless QE, the Fed and others look to be responding with at least some frank reality checks even if little new in the substance of their message. In truth, there may be no real change in the likely ...

• Bernanke Confused Everybody Dennis Gartman

  Dennis Gartman, founder and editor of The Gartman Letter, says tapering is still up for debate following Bernanke's Congress address and adds that as the underlying economy gets stronger, capital will come out of the equity ...

• Lebanese union accuses finance ministry of intentional errors

  The work of the Ministry of Finance is being obstructed at every corner by bureaucracy and an IT system that presents more problems than solutions. (Photo: Marwan Tahtah) The Union Coordination Committee Wednesday accused the Finance Ministry of intentionally submitting salary scale bills with errors in them in a bid to delay the ratification of a wage hike in Parliament."On three different ...

• IIROC Trading Resumption - MXM

  Canada (IIROC) can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which ...

• IIROC Trade Resumption - MTA

  May 23, 2013 /CNW/ - Trading resumes in: Company: Matrix Asset Management Inc. TSX Symbol: MTA (all issues) Resumption: Open The Investment Industry Regulatory Organization ...

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