Category: News Desk

Orange Juice Prices to Spike After Fungicide Scare


That glass of orange juice is about to cost you more, after the U.S. Food and Drug Administration found traces of a banned fungicide in Brazil-imported oranges. The prices of orange juice futures contracts hit a 34-year high on Tuesday, just days after a cold snap in Florida sent frozen orange juice concentrate futures soaring 26 percent.

It’s no longer just about commodities like oil and gold. Last year, peanut butter prices hit the roof after a poor peanut harvest. This year, orange juice prices too, are set to hit the roof.

EU Moves to Block NYSE-Deutsche Boerse Merger on Anti-Trust Concerns


 

According to sources, the European Commission, regulators of the European Union, have preliminarily rejected the proposed merger between the NYSE Euronext and Deutsche Boerse over the combined monopoly fears of the two derivative markets.

Spokespersons from both the Deutsche Boerse and the NYSE Euronext have reported in separate statements that they have not received any notice from the EU regulators, while a spokeswoman for the European Commission’s anti-trust department declined comment.

Greeks’ Headaches Worsen As Debt Crisis Trigger Aspirin Shortage


 Greece’s spiralling debt crisis and subsequent austerity measures have led to a drug shortage among pharmacies and clinics in the country, where even common drugs, such as aspirin, have been increasingly harder to find.

Italy’s Financial Turmoil Turns Mafia Into Nation’s Largest Bank


Organised crime syndicates in Italy, i.e. the mafia, are now the “number one bank” in the country, claimed a report by anti-crime group SOS Impresa on Tuesday.

Alone But Determined, Sarkozy Pushes Forward Talk Of A Tobin Tax


French President Nicolas Sarkozy is alone in his push for a Tobin tax, or a tax on financial transactions, but he believes that his country will lead the EU forward – much to the ire of his English counterpart.

Olympus Seeking Up To 16.54 Billion Yen In Lawsuits Against Executives


Olympus Corp has filed 19 lawsuits against current and former members of its board, including current president Shuichi Takayama and former CEO Tsuyoshi Kikukawa, in an attempt to make up for more than 86 billion yen ($1.1 billion) in damages caused by one of Japan’s worst accounting scandals in its history.

Economically Distressed, Greek Parents Give Up Children


With the Greek sovereign debt extending into 2012, Greek parents with economic and financial difficulties are giving up their children – a surprise for a country where family ties are traditionally strong.

According to a BBC World Service report, more Greek parents are giving up their children because they can no longer afford to feed their children, much less themselves.

Obama To Create Task Force That Monitor Chinese Trade Policies


US President Barack Obama is planning to form a government task force that will enforce US trade rules around the world, though people closer to the matter claim that the task force’s specific purpose would be to target and monitor China for possible trade and commercial violations.

“We The 99%”: UK Investors May Get To Vote On Executive Pay


British Prime Minister David Cameron has championed the rights of investors to veto executive pay, saying that it’s wrong for salaries of the top echelons “to keep going up and up and up”, even when they fail to deliver results. Instead, Cameron calls for greater empowerment of shareholders, especially when it comes to voting rights on top pay packages.

UK Prime Minister Gambles On Early Vote For Scotland’s Independence


UK Prime Minister David Cameron has offered Scottish people the opportunity to vote on a possible breakaway from the rest of the United Kingdom, but only if the referendum occurs within the next 18 months and be legally binding without any option for greater devolved powers, reported the BBC on Monday.