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You are here: Home / Archives for Business

Warren Buffet, Billionaire Philanthropist Appreciated the New Signers

May 18, 2014 Posted by Staff

Recently an official gathering of certain world's wealthiest people at the Giving Pledge's annual philanthropic “gathering” took place to discuss “deeper engagement” in the causes they support. No official figures has been provided regarding number of billionaires and amount they have given since the pledge was instigated as a joint venture in 2010 by Warren Buffett, CEO of Berkshire Hathaway … [Read more...]

Filed Under: Business Tagged With: Billionare, four signers, google, iNVESTOR, pAUL Orfalea, REACH, rich people, Warren Buffet, warren buffet praises, wealthy

Ex-SAC Capital Manager Sentenced to 3½ Years in Prison for insider trading

May 17, 2014 Posted by Staff

Michael Steinberg, a former fund manager with SAC Capital Advisors LP was sentenced to 3 1/2 years in prison for insider trading, crowning one of the biggest triumphs for prosecutors who invested seven years inspecting the firm and its boss, Steven A. Cohen. In April, the Stamford, Connecticut-based firm changed its name to Point72 Asset Management LP. He was found guilty in December of … [Read more...]

Filed Under: Business, National News Tagged With: former sac capital manager, insider trading, SAC Capital Advisors LP, sentenced to prison, steinberg

Darden Restaurants seals USD 2.1 bn Red Lobster deal with Golden Gate Capital

May 17, 2014 Posted by Contributor

Private equity firm Golden Gate Capital is going to buy seafood chain Red Lobster for USD 2.1 billion, Darden Restaurants said. Darden Restaurants had put Golden Gate Capital, its oldest but worst performing segment, on sale in December. Darden also includes Olive Garden, LongHorn Steakhouse, Bahama Breeze, Capital Grille and Seasons 52. According to the company, the deal will get about … [Read more...]

Filed Under: Business Tagged With: Darden Restaurants, Golden Gate capital, Red Lobster

Utah is the 13th Best State for Business Survey 2014

May 15, 2014 Posted by Contributor

Chief Executive Magazine conducted a survey recently and ranked each of the 50 states for its relative appeal for business. In the 10th annual survey, over 500 CEOs responding to the survey considered a wide range of factors. The major considerations in the overall ranking process were the quality and availability of public education and health care, the cost of living, and the quality of … [Read more...]

Filed Under: Business, National News, State News Tagged With: best business survey, Chief Executive Magazine survey, utah ranked 13

US job market improving as unemployment aid claims hit 7-year low

May 15, 2014 Posted by Contributor

In a positive development, the US job market was seen strengthening as the number of Americans filing new claims for unemployment benefits fell last week to its lowest level in seven years. According to the Labor Department report, released on Thursday, the initial unemployment benefits applications in the United States dropped from 24,000 to 297,000 for the week that ended May 10. This … [Read more...]

Filed Under: Business Tagged With: Jobs, Recession, Unemployment, Unemployment Rate, United States, US Job Market, US Jobs

8.12 percent of New Jersey mortgages in foreclosure process

May 15, 2014 Posted by Staff

The Mortgage Bankers Association on Thursday said that about 8.12 percent of mortgages were in the foreclosure process in New Jersey. With this development, New Jersey has surpassed Florida with the highest share of mortgages in foreclosure process in the United States in the first quarter as delinquencies nationally fell to pre-crisis levels. Michael Fratantoni, chief economist for the … [Read more...]

Filed Under: Business Tagged With: foreclosure inventory rate, foreclosure process, foreclosure process in New Jersey, home loan in New Jersey, home loan in US, Mortgage Bankers Association, Mortgage Rates, mortgages, New Jersey

Euro at one month low after ECB President Mario Draghi hints easing monetary policy

May 11, 2014 Posted by Editor

Amid indications from the European Central Bank (ECB) over easing of monetary policy in its June review, the euro has remained sluggish in the past few weeks. The18 nation currency has hit a one month low and has remained weak against most of its 16 major counterparts According to the stock analysts, the euro has fell the most in the past seven weeks against the dollar after the ECB’s … [Read more...]

Filed Under: Business Tagged With: Dollar, ECB, ECB policy review, Euro, Euro against Dollar, Euro fall, European Central Bank, Mario Draghi, monetary policy of Europe

Ford announces Mark Fields as its new CEO

May 2, 2014 Posted by Contributor

Leading automaker Ford on Thursday announced the name of Mark Fields as its new CEO. 53-year-old Fields will take over Alan Mulally on July 1, six months ahead of schedule. Soon after assuming office, Fields will face a daunting to-do list for maintaining the super era of Mulally. As Ford expands rapidly in Asia and other world markets, the top most priority for Fields would be to keep … [Read more...]

Filed Under: Business Tagged With: Alan Mulally, Ford, Ford CEO, Mark Fields

Bitcoin exchange MtGox hacked 150,000 times per second

March 10, 2014 Posted by Contributor

The Tokyo-based exchange, MtGox, is under severe cyber attack with hackers assessing its data 150,000 times per second. The bitcoin exchange has filed for bankruptcy protection in February. Reports say, it was hit with crippling distributed denial-of-service (DDoS) attacks. The hackers take control of multiple computers during the DDoS attacks and send a flood of data to the target through … [Read more...]

Filed Under: Business Tagged With: Bitcoin, Cyber attack, MtGox

Bitcoin prospects in dark after $2.7 million heist

February 16, 2014 Posted by Contributor

The last few days have been tough for Bitcoin as it suffered three setbacks one after another. The three top exchanges halted its withdrawals, a reported heist of $2.7 million and the exploitation of a flaw in the Bitcoin protocol all leading to a common question- Are the end-times coming to Bitcoin? Bitcoin is an experimental decentralized digital currency that enables instant payments to … [Read more...]

Filed Under: Business, Salt Lake News Tagged With: 2.6 Million, Bitcoin, Bitcoin protocol, decentralized digital currency, Hack, Silk Road, Silk Road 2.0, Theft

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