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  • Paul Gauguin painting said to fetch $300 million | The Financial Express
    purchased by a Qatari buyer but Staechelin would not say whether the new owner was from Qatar I don t deny it and I don t confirm it Staechelin said also declining to disclose the price The Qatar Museums formerly the Qatar Museums Authority in Doha the emirate s capital did not respond to calls and emails seeking comment Guy Morin the mayor of Basel acknowledged news of the sale of the Gauguin and bemoaned its loss First Published on February 7 2015 12 06 am Please Wait while comments are loading Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra cars at the Delhi Auto Expo 2016 From Real Madrid to Chelsea Know the top 10 richest clubs Earthquake in Taiwan Magnitude 6 4 quake kills 14 over 100 missing scores injured in Tainan Real Madrid s Cristiano Ronaldo 31 soccer star and entrepreneur All you need to know in 8 slides How Zika virus infection can spread From

    Original URL path: http://www.financialexpress.com/article/lifestyle/showbiz/paul-gauguin-painting-said-to-fetch-300-million/39885/ (2016-02-08)
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  • The scary rise in global debt since financial crisis of 2008 | The Financial Express
    government Greece Italy households Spain US or financial institutions Ireland Britain The ratio of total debt to economic output has declined in only some smaller countries like Romania Saudi Arabia and Israel In all of the world s economic powerhouses total debt has risen While some of the places with the steepest increases are European countries that were enmeshed in that continent s debt crisis Ireland Greece and Portugal with Spain and Italy just behind others are a bit more surprising Indeed two Asian giants that were only modestly affected by the last crisis are in this group China has seen its ratio of debt to economic output rise by a whopping 83 points since 2007 according to the calculations by the McKinsey Global Institute to 217 of GDP with increases in government corporate and household debt So far the Chinese government has skilfully managed a slowdown in economic growth and signs of a housing boom reaching its end but whether it will be able to avoid a sharper correction is one of the great questions hanging over the global economy Then there is Japan the most indebted country in the world at 400 of GDP Debt is up 64 percentage points since 2007 Its fiscal challenges are almost entirely from government debt and they long predate the financial crisis Its borrowing costs remain astoundingly low reflecting ultra low inflation and strong domestic demand for Japanese government bonds But it is hard to look at the balance sheet of the world s third largest economy and not wonder how this can end well Meanwhile the McKinsey report can be read as giving a largely positive assessment of the US While total debt for the real economy is up by 16 percentage points in the US to 233 of GDP household debt is actually down by 18 percentage points and corporate debt by 2 percentage points A rise in public debt since 2007 in other words largely offset declines in private sector debt And perhaps most promising for the US its financial institutions have become significantly less leveraged with financial sector debt falling by 24 percentage points of GDP by McKinsey s calculations One bright spot in our research is progress in financial sector deleveraging write Richard Dobbs and three co authors Financial sector debt relative to GDP has declined in the US and a few other crisis countries and has stabilised in other advanced economies At the same time banks have raised capital and reduced leverage First Published on February 7 2015 12 05 am Please Wait while comments are loading Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again

    Original URL path: http://www.financialexpress.com/article/economy/the-scary-rise-in-global-debt-since-financial-crisis-of-2008/39883/ (2016-02-08)
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  • Telecom giant BT to buy UK’s wireless carrier EE for $19 bn | The Financial Express
    Spain bought for roughly 28 billion after BT spun off the unit more than a decade ago BT currently offers traditional home phone services as well as broadband and television across Britain but it has been looking to re enter the cellphone market as consumers increasingly want to combine their cellphone cable and pay TV contacts into a single bundle Competition in Britain s telecommunications market has heated up recently Hutchison Whampoa one of the flagship companies of the Hong Kong billionaire Li Ka shing said last month that it had agreed to enter exclusive talks to buy O2 the British cellphone carrier owned by Telefónica in a deal worth roughly 15 billion O2 had previously held discussions with BT but those talks broke down First Published on February 6 2015 1 25 am Tags British Telecommunications Germany Please Wait while comments are loading More on this story Clouds over German economy as business confidence falls Angela Merkel ally threatens legal action over German refugee policy Germany s Angela Merkel under pressure as Cologne police detail assaults Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s

    Original URL path: http://www.financialexpress.com/article/industry/telecom-giant-bt-to-buy-uks-wireless-carrier-ee-for-19-bn/39502/ (2016-02-08)
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  • In year of recalls, GM to pay its factory workers big bonus | The Financial Express
    administer the compensation programme Kenneth Feinberg has made settlement offers to the families of 51 people killed in switch related accidents GM also offered financial incentives to consumers to bring recalled cars in for repairs and spent heavily on outside lawyers to investigate how engineers executives and others failed for years to fix an ignition switch they knew was defective Internally the company incurred significant costs for legal fees and adding new safety personnel as well as to pay secret severance agreements to people who were dismissed or retired in the wake of the ignition switch scandal GM said its ultimate decision was not based on a formula in the contract Instead the company said the 9 000 figure was a combination of regular profit sharing in addition to a 2 000 performance bonus The bonus was highly unusual said Art Schwartz a labour consultant who worked for GM for more than 20 years But it represented something of an admission that GM management had caused the company s safety woes he said and not the workers on the line It s an acknowledgment of that he said If nothing else it is a good will gesture that takes the whole recall issue out of the equation Outside the cost of the recalls GM had a strong year financially particularly in North America where it said it earned a pretax profit of 6 6 billion But without the recalls the pretax earnings were 9 billion One reason for the company s health was the bankruptcy itself which allowed GM to shed money losing assets and restore its balance sheet thanks to the bailout The company s contract with the United Auto Workers union calls for it to pay about 1 000 in profit sharing for each 1 billion in pretax earnings in North America When confronted with the final tally of earnings for the year Barra and other executives decided union workers should be paid for how the company s operations performed and not be penalised for safety problems dating back years The decision came after discussions between GM and the UAW The company also took another unrelated step on Wednesday to appease another group affected by the mounting recalls its investors GM s shares languished last year as the industry surged and some of the underperformance could be attributed to spiralling recall costs GM said its board planned to approve a 20 increase in the company s quarterly dividend in the second quarter of this year In trading on Wednesday on the New York Stock Exchange GM s shares climbed more than 5 to close at 35 83 An open question is whether bonuses will be cut for GM s legions of white collar workers because of an overall drop in the company s net income in 2014 For the year GM reported net income of 2 8 billion a 31 decrease from 3 99 billion in 2013 Also unclear is how the recalls will affect the compensation of

    Original URL path: http://www.financialexpress.com/article/companies/in-year-of-recalls-gm-to-pay-its-factory-workers-big-bonus/39498/ (2016-02-08)
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  • S&P settlement leaves future unclear for ratings | The Financial Express
    mortgage investments misconduct that occurred in 2011 years after the crisis And even as S P has publicly raised concerns about the quality of loans backing subprime auto bonds it continues to award top ratings to the investments echoing problems that led to the government settlements on Tuesday The 1 37 billion fine shows that the current system does not work said representative Brad Sherman a California Democrat who has co written legislation to crack down on rating agencies At the heart of the problem some lawmakers say is the rating agency business model The agencies are paid by the same banks and companies they rate And when market share declines a rating agency might lower its standards to attract new business a concern that underpinned the US justice department lawsuit that S P settled on Tuesday In reality the ratings were affected by significant conflicts of interest and S P was driven by its desire for increased profits and market share to favour the interests of issuers over investors attorney general Eric Holder said at a news conference announcing the settlement S P argues that its ratings offer investors a valuable service While certain ratings might prove to be imperfect they are meant to be opinions not fact But senator Al Franken a Minnesota Democrat who has proposed an overhaul of the ratings business argues that potential conflicts might impair those opinions As I ve said since the financial crisis enforcement after wrongdoing won t be enough Franken said in a statement on Tuesday referring to the settlement He called on the SEC to fix the fundamental problems of the credit ratings agencies conflicts of interest that continue to put everyday Americans and our financial system at risk During the debate over Dodd Frank Franken and Sherman proposed an amendment that would install an independent panel to assign bonds to a rating agency providing a check on potential conflicts Ultimately Dodd Frank required the SEC to study the issue Beyond the study the agency did not take further action It did however establish a specialised office of credit ratings that conducts annual exams of the companies First Published on February 5 2015 12 46 am Tags Standard Poor s Please Wait while comments are loading More on this story Standard Poor s warns of more sovereign downgrades than upgrades in 2016 India to grow at 7 4 this fiscal says Standard Poor s Just growth fiscal improvement can t resolve NPA issues Standard Poor s Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars

    Original URL path: http://www.financialexpress.com/article/industry/sp-settlement-leaves-future-unclear-for-ratings/39053/ (2016-02-08)
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  • SAP aggressively moving customers to new database | The Financial Express
    inside corporate data centres More specialised applications are yet to emerge Moreover the cloud version of the new suite of applications has just one function called Simple Finance A company spokeswoman said more cloud applications would be available this year HANA has been available as a cloud computing product since 2013 It s still a work in progress said Paul Hamerman an analyst with Forrester The road map and the functionality aren t clear The company has introduced a simpler user interface he said and seems headed to a new business model based more on subscription revenue from software delivered via the cloud The competitive intentions were clearer McDermott introduced S 4 by noting that the company had over the last several years built or acquired a number of cloud based functions Pointedly a number of these spoke to SAP s major competitors HANA is a counterpart to Oracle human resource management to Workday and sales management to Salesforce Other areas he stressed included commerce between companies part time work force management and expense management Put collectively the chief executive appeared to be speaking to an entirely different way to manage corporations and work based on rapid analysis and mobile systems It s not important just for SAP said Steve Lucas who runs sales for S 4 Older databases he said were created for batch reporting which means you wait long periods for reports This will dramatically accelerate the process it will cause companies to pause and re engineer themselves What that will mean in effect however was absent from the SAP announcement Much of the actual announcement of S 4 was a long presentation thick with corporate history and technology theory by Hasso Plattner SAP executive chairman that appeared to confuse as much as it clarified They need more customers on this and more functionality on the product before its meaning is well understood said Hamerman It s a gradual transition First Published on February 5 2015 12 09 am Tags Germany SAP Please Wait while comments are loading More on this story Clouds over German economy as business confidence falls Angela Merkel ally threatens legal action over German refugee policy Germany s Angela Merkel under pressure as Cologne police detail assaults Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made

    Original URL path: http://www.financialexpress.com/article/industry/sap-aggressively-moving-customers-to-new-database/39052/ (2016-02-08)
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  • Fed’s solid growth view for US faces test amid Greek change | The Financial Express
    of the optimism created by strong job creation Average wages fell 0 2 in December the biggest decline in at least eight years although some economists said that may have been a seasonal fluke and the consensus is for a 0 3 increase in January In an encouraging sign the more widely respected Employment Cost Index released on Friday showed labour costs increased by 2 2 in the 12 months through December although still below the 3 economists say is needed to bring inflation close to the Fed s 2 target Fed officials have indicated that interest rates could rise as soon as in June though futures contracts indicate investors expect a first move in September The target rate has been close to zero since late 2008 Fed Chair Janet Yellen has repeatedly said the decision will be data dependent US economic growth cooled in the fourth quarter of last year but consumer sentiment hit an 11 year high data showed on Friday Greek wrestling In an addition to its post meeting statement last week the Fed said its assessment of interest rates would also take into account international developments Bernd Weidensteiner US economy specialist at Commerzbank said non US events would not change the general course of US monetary policy but could affect the timing The US is still a relatively closed economy The economic cycle is made in America he said But if say something awful happened with Greece it would affect US markets For the struggling euro zone December retail sales and Markit s final purchasing managers surveys PMIs will give the latest indications on the economy However with Greece s new left wing government flatly rejecting on Friday the expected extension of its bailout programme and Germany saying fresh Greek aid was not on the agenda economic news may take second place to politics as Greek Prime Minister Alexis Tsipras visits other European leaders First Published on February 2 2015 1 08 am Please Wait while comments are loading Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra cars at the Delhi Auto Expo 2016 From Real Madrid to Chelsea Know the top 10 richest clubs

    Original URL path: http://www.financialexpress.com/article/economy/feds-solid-growth-view-for-us-faces-test-amid-greek-change/37823/ (2016-02-08)
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  • International Business News:World Business News,Global Business News | - Page 2The Financial Express | Page 2
    North Korea in Sony hacking 2015 New York Times News Service December 26 2014 11 16 PM A number of private security researchers are increasingly voicing doubts that the hack of Sony s computer systems was the work of North Korea Driver wanted for Barack Obama motorcade Novice welcome 2015 New York Times News Service December 26 2014 11 13 PM Shortly after US President Barack Obama landed here one fall day for fund raisers MBA programmes follow Silicon Valley into data age 2015 New York Times News Service December 26 2014 11 06 PM Many US colleges have begun offering programmes that include digital components and not just finance and corporate strategy Oil s swift fall raises fortunes of US abroad 2015 New York Times News Service December 25 2014 9 55 PM Anti US oil exporters Russia Iran Venezula pushed towards financial crisis talks rife that US Saudi delibrately drove down prices Bribe charges may kill 13 bn merger of Biomet Zimmer 2015 New York Times News Service December 25 2014 1 10 AM From the skyscrapers of Wall Street to the factories of northern Indiana cheers rang out for one of the biggest mergers of the year For 13 35 billion Goldman Sachs and a group of giant private equity firms agreed in April to sell one Indiana medical device maker to another But possible acts of bribery abroad US Fed says it ll be patient on interest rate timing 2015 New York Times News Service December 18 2014 10 46 PM Janet Yellen Federal Reserve chairwoman said on Wednesday the Fed still expected to start raising interest rates next year Steep rate hike in Russia fails to stem rouble rout 2015 New York Times News Service December 17 2014 12 58 AM The rouble s value continued to slide on Tuesday despite the Russian central bank s extraordinary effort to defend it Sony Pictures asks news outlets to delete stolen data 2015 New York Times News Service December 16 2014 12 54 AM Sony Pictures Entertainment warned media outlets on Sunday against using the mountains of corporate data revealed by hackers Zuckerberg says secret of his current success is making lots of mistakes 2015 New York Times News Service December 13 2014 12 15 AM Now we know why Facebook is so unafraid to make mistakes whether it is the company s privacy 1 2 3 4 Editor s Pick How Zika virus infection can spread From mosquito bites to urine transmission top 5 points to note From Real Madrid to Chelsea Know the top 10 richest clubs New Mahindra cars at the Delhi Auto Expo 2016 Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box

    Original URL path: http://www.financialexpress.com/print/international/page/2/ (2016-02-08)
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