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China firms have ‘widespread weaknesses’: agency

Ratings agency Fitch warned Monday of “widespread weaknesses” in Chinese corporate governance and a lack of “quality information” for shareholders after a spate of accounting scandals overseas. Chinese companies were at “above average” risk of being accused of fraud — sometimes wrongly — which could hamper their attempts to raise…

Gold soars above $1,600 per ounce for first time

The price of gold surged on Monday above $1,600 per ounce for the first time in history, as investors bought the safe-haven metal amid deepening debt worries in the eurozone and the United States. Gold jumped as high as $1,600.10 an ounce in early morning trading on the London Bullion…

White House launches challenge to create anti-sexual assault app

The Apple iPhone slogan and refrain of smartphone users worldwide — “there’s an app for that” — will soon be true of sexual assault prevention as well. The White House, the Department of Health and Human Services and Vice President Joe Biden launched a joint challenge that is hoped to…

Cost of Boeing’s U.S. Air Force contract could overrun: report

Five months after Boeing won a massive contract to supply air refuelling tankers to the US Air Force, the US giant fears the project may run over budget, Focus magazine reported Sunday. The 4.9 billion-dollar (3.5 billion-euro) budget set for the first stage of the project, for the first four…

New Mexico ‘spaceport’ in the works

No stranger to offbeat space-related news, businesspeople in New Mexico have plans to make the country’s first “spaceport,” an airport for privately owned spacecraft, NPR reported. Under the authority of the newly created New Mexico Spaceport Authority and Spaceport America, plans for the new space are set for a site…

Facebook foreclosures on the rise

In the age of the online over-share, combined with the current slew of foreclosures and mortgage drama, it may not come as too much of a shock to hear that social networking and banking have merged in a very serious way. Attorneys and mortgage lenders in Canada, New Zealand and…

U.S., Romania arrest more than 100 for cyber scams

WASHINGTON (Reuters) – U.S. and Romanian police have arrested more than 100 people in a year-long effort to stop Internet fraud schemes that have cost Americans more than $100 million, the U.S. Justice Department said on Friday. Romanian police carried out 117 raids on Friday, the Justice Department said. They…

In a first for Starbucks, Chile workers strike

SANTIAGO/LOS ANGELES (Reuters) – Starbucks Corp has been hit with its first strike at a company-operated cafe in Chile, where some workers are seeking pay and benefit increases, union and company representatives told Reuters on Friday. Starbucks was quick to say that its 31 cafes in Chile would remain open…

Apple fixes security flaw in iPhone, iPad software

BOSTON (Reuters) – Apple Inc has plugged a hole in the software that runs iPhones, iPads and iPod Touch music players that could allow hackers to take remote control of those devices. The security flaw came to light nine days ago as the website www.jailbreakme.com released code that Apple customers…

S&P threatens downgrade of U.S. finance companies

NEW YORK (Reuters) – Standard & Poor’s on Friday raised the pressure on Washington debt negotiators, saying it could downgrade insurers, securities clearinghouses, mortgage agencies and a laundry list of other firms if there is not a deal soon to lift the debt ceiling and cut the deficit. The ratings…

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