Business News

Thu, May 24, 2012

China's CIC eyes up to $2 bln stake in Alibaba Group: sources

HONG KONG (Reuters) - Sovereign wealth fund China Investment Corp (CIC) is in advanced talks to buy an up to $2 billion stake in Alibaba ...

Thu, May 24, 2012

BMW fined for stopping Swiss import cars

ZURICH (Reuters) - BMW , the world's biggest premium carmaker, was fined for preventing Swiss residents from buying its cars abroad in euros after the ...

Thu, May 24, 2012

MasterCard loses challenge against EU fees ruling

By Foo Yun Chee

LUXEMBOURG (Reuters) - Europe's second-highest court on Thursday threw out MasterCard's challenge of a European Union ban on its ...

Thu, May 24, 2012

Emergency ECB borrowing jumps as mainstream funding cut

FRANKFURT (Reuters) - Banks took almost 4 billion euros of overnight ECB loans on Thursday, the highest since a Greek debt restructuring-fuelled jump in mid-March ...

Thu, May 24, 2012

GM Korea says it won't shift production to Europe

BUSAN, South Korea (Reuters) - U.S. carmaker General Motors has no plans to shift production from its factories in South Korea to Europe, where ...

Thu, May 24, 2012

MasterCard loses challenge against EU fees ruling

LUXEMBOURG (Reuters) - Europe's second-highest court on Thursday threw out MasterCard's challenge against an EU ban on its cross-border credit card fees.

The ...

Thu, May 24, 2012

BMW to appeal $163 million Swiss antitrust fine

FRANKFURT (Reuters) - BMW , the world's biggest premium carmaker, plans to appeal a fine from the Swiss Competition Commission amounting to 156 million Swiss ...

Thu, May 24, 2012

Thomas Cook names Premier Farnell boss Green as CEO

LONDON (Reuters) - Thomas Cook on Thursday said current Premier Farnell boss Harriet Green would succeed Sam Weihagen as chief executive of the debt-laden tour ...

Thu, May 24, 2012

Shell says considering options on bid target Cove

LONDON (Reuters) - Royal Dutch Shell said it was considering its options regarding Cove Energy , the explorer it is trying to buy, as it extended ...

Thu, May 24, 2012

Swiss authority fines BMW $163 million over imports

ZURICH (Reuters) - The Swiss Competition Commission is fining Germany's BMW 156 million Swiss francs ($163.44 million) for preventing direct and parallel imports ...

SEVERE WEATHER ALERT: Flood Watch  More Details Hide Details

mnz011-012-019-020-026-034>038-242100- /o.con.kdlh.fa.a.0001.000000t0000z-120525t0000z/ /00000.0.er.000000t0000z.000000t0000z.000000t0000z.oo/ northern st. louis-northern cook/northern lake-central st. louis- southern lake/lakeshore-southern itasca-crow wing-northern aitkin- southern aitkin-carlton/southern st. louis-pine- including the cities of...ely...isabella...hibbing... two harbors...grand rapids...brainerd...hill city...aitkin... duluth...cloquet...hinckley 340 am cdt thu may 24 2012 ...flood watch remains in effect through this evening... the flood watch continues for * portions of east central minnesota...north central minnesota and northeast minnesota...including the following areas...in east central minnesota...crow wing...northern aitkin...pine and southern aitkin. in north central minnesota...southern itasca. in northeast minnesota...carlton/southern st. louis... central st. louis...northern cook/northern lake...northern st. louis and southern lake/lakeshore. * a slow moving frontal system has become nearly stationary across northern wisconsin. abundant moisture has surged northward from the gulf of mexico...and will interact with the front as well as a strong area of low pressure. this combination will create heavy rainfall over an extended period of time. most of the flood watch area can expect to see total rainfall on the order of 2 to 4 inches...with locally higher amounts. the rain will expand in coverage and intensity over much of the northland this morning. much of the watch area has received 1 to nearly 3 inches of rain so far. the highest amounts were over aitkin and crow wing counties. the pine river area reported 2.5 to 3 inches so far. * rivers across the area have been fairly low until recent rainfall. however...rainfall in excess of 3 or 4 inches...will likely lead to river and stream responses that will result in much faster flow than we have recently seen. rivers were already rising across the northland. rivers and streams will continue to rise significantly within their banks... with some even flowing out of their banks. storms repeatedly moving over the same areas will likely lead to high rainfall rates as well. in addition to rivers...ditches and culverts may fill up... affecting roads and driving conditions. in the event flooding becomes imminent or is observed...flood or flash flood warnings will need to be issued. precautionary/preparedness actions... a flood watch means there is a potential for flooding based on current forecasts. you should monitor later forecasts and be alert for possible flood warnings. those living in areas prone to flooding should be prepared to take action should flooding develop. && $$