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McDonald's to pay Rs. 15,000 for delivering wrong burger

NDTV-Fast food giant McDonald’s has been directed by a consumer forum here to pay Rs. 15,000 as compensation to one of its customers for delivering a non-veg burger instead of the vegetarian one she had ordered. The South West District

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McDonald’s to pay Rs. 15,000 for delivering wrong burger

NDTV-Fast food giant McDonald’s has been directed by a consumer forum here to pay Rs. 15,000 as compensation to one of its customers for delivering a non-veg burger instead of the vegetarian one she had ordered. The South West District

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SK Group chairman imprisoned on charges of embezzlement

Embezzling USD 46mn of the SK Group’s fund for personal investments, the group’s Chairman is sentenced to four years in prison. Mr Chey Tae-won was previously imprisoned in 2003 on charges of accounting fraud. The ruling comes amid increasing calls

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China reports a slowdown in manufacturing growth

One of the biggest drivers of Chinese economic growth, the manufacturing sector shows signs of contraction yet again. The Purchasing Managers’ Index (PMI), a key indicator of activity in the manufacturing sector, fell to 50.04 in January from 50.6 in

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BP’s USD 4bn plea resolved

P oPleaded guilty for 14 criminal charges, British oil giant BP said it would pay USD 4bn in settlement for 14 criminal charges related to the fatal 2010 Deepwater Horizon disaster. A U.S. court accepted BP’s federal plea agreement, making

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Apple’s demand for higher damages from rival Samsung is denied

A US judge in California court rejected Apple’s demand for higher damages from South Korea’s Samsung. The court called on the firm to abide by the USD 1.05bn ruling. It further denied requests from both firms for a retrial of

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Yahoo’s quarterly revenue rises under its new leadership

Yahoo has reported a nearly 2% increase in the fourth quarter revenues compared with the same quarter figures last year. Ranked among the top websites in the global industry, Yahoo witnessed a revenue of USD 1.35bn in the fourth quarter

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India finally lowers key interest rate

The Reserve Bank of India (RBI) has been pressured to lower key interest rate from 8% to 7.75%. The Bank was refusing to cut interest rate in order to make sure to keep inflation in check. Amid the slowing of

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Are Pakistan’s economic woes secondary to its political difficulties?

Bruce Stokes from Pew Research Center reflects on the economic difficulties of Pakistan that are being overlooked. The headlines on Pakistan’s political challenges such as charges of corruption against Prime Minister Raja Pervez Ashraf and militant bombings in the country

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More than USD 114bn withdrawn from US banks this month

Business Week-More than $114 billion exited the biggest U.S. banks this month, and nobody’s quite sure why. The Federal Reserve releases data on the assets and liabilities of commercial banks every Friday. The most current figures, covering the first full week of

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Facebook Might Owe You $10

Buzzfeed-A class action suit about Facebook’s Sponsored Stories feature resulted in a $20 million settlement. Up to $10 of that money might be coming to you. Last month, Facebook offered to settle a class action lawsuit, rather than fight it

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China’s manufacturing activity growing at its fastest rate in two years

China reported a Purchasing Managers Index (PMI) of 51.9 in January compared with 51.5 in December. The country’s manufacturing activity is at its two-year high since January 2011 and above 50. A PMI of above 50 indicates expansion and signals

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Apple loses to Exxon Mobil as the most valuable company

Following a drastic decline in its shares, Apple is taken over by Exxon Mobil as the most valuable company. The disappointed iPhone sales figures on Wednesday dropped Apple’s shares to 37% since their record high last September. At the close

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Girls and women ‘hit the hardest’ by global recession

BBC-Women and girls were hit the hardest by the global recession, according to child rights and development organizations. “The world is failing girls and women,” a report by Plan International and the Overseas Development Institute said. A shrinking economy sent

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Girls and women 'hit the hardest' by global recession

BBC-Women and girls were hit the hardest by the global recession, according to child rights and development organizations. “The world is failing girls and women,” a report by Plan International and the Overseas Development Institute said. A shrinking economy sent

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India raises gold import tax

In a bit to tackle its trade deficit, Indian government has raised import tax on gold from 4% to 6%. India’s trade deficit has hit a record 5.4% of total economic output between July and September last year. Some analysts

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Japanese government approves $116bn stimulus package

The Japanese government has approved a fresh 10.3 trillion yen ($116bn; £72bn) stimulus package in an attempt to spur a revival in its economy. The package will include infrastructure spending, as well as incentives for businesses to boost investment. Tokyo

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Greece unemployment hits highest rate in European Union

BBC-The latest unemployment rate for Greece has risen to 26.8%, the highest figure recorded in the European Union (EU). The official Greek data for October sees Greece overtake Spain as the country with the highest unemployment rate in Europe. The

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UK economy 'contracted in fourth quarter'

BBC-The UK economy contracted by 0.3% in the last three months of 2012, according to the National Institute of Economic and Social Research (NIESR). The NIESR blamed it on artificially strong growth in the third quarter. If the figure is

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UK economy ‘contracted in fourth quarter’

BBC-The UK economy contracted by 0.3% in the last three months of 2012, according to the National Institute of Economic and Social Research (NIESR). The NIESR blamed it on artificially strong growth in the third quarter. If the figure is

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Microsoft to close Windows Live Messenger on 15 March

MSN News-Microsoft has announced plans to shut down its Messenger service (formerly Windows Live Messenger/MSN Messenger) and move users to Skype from 15 March 2013. The sad news came in the form of an official email from Microsoft. It is

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Australia toughening Iran sanctions

The Age- By David Wroe Australia will beef up its sanctions against Iran over the Middle Eastern nation’s nuclear ambitions, with new curbs on natural gas trade and banking. Foreign Minister Bob Carr announced Thursday that new sanctions would be

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Apple Working on a Less-Expensive iPhone

WSJ-By Jessica E. Lessin Apple Inc. is working on a lower-end iPhone, according to people briefed on the matter, a big shift in corporate strategy as its supremacy in smartphones has slipped. While Apple has explored such a device for years, the

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Unemployment rate drops in Spain in December

Hope glimmers as the Spanish Labor Ministry announced a drop in the country’s unemployment. The number of unemployed in Spain, adjusted for seasonal swings, fell by 41,023, or 0.8%, in December from the previous month, the first drop since July.

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A Gigantic Sigh of Relief as Tax Uncertainty Ends

By Catherine Rampell- the New York Times Even though Congress’s last-minute deal means higher taxes for almost all Americans, businesses and consumers are relieved that some of the uncertainty about what they will owe the government this year is gone.

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