Latest Business News

Global media conglomerate News Corp. (NWSA) on Wednesday saw its quarterly earnings more than double from a year earlier on the strength of growth at its cable networks both in the U.S. and abroad.

For its fiscal second quarter News Corp. reported net income of $642 million, or 24 cents a share, compared with $254 million, or 10 cents a share, a year earlier.

Revenue rose by 1% to $8.76 billion, up from $8.68 billion during the same period a year ago.

“I am confident that the significant positive momentum from these businesses will not only continue to drive News Corporation’s growth for the remainder of the fiscal year, but also strengthen the Company for growth in the years to come,” said News Corp. Chair

Full Post…

George Osborne offered the City a chance to escape from an era of “banker bashing” when he called on Britain’s big banks to sign up to a new accord on lending, pay and bonuses within the next few weeks.

The chancellor told a lunch audience of British business leaders in Davos that once a deal over Project Merlin had been struck he would concentrate on promoting London as a “great place” for the financial services sector.

“We do need to move on,” Osborne said in response to a call for anti-City rhetoric to be turned down. “But I am not prepared to do a deal unless I get something in return.”

The government wants the big five UK lenders to agree the precise terms of a settlement before the start of the bank results season in mid-February.

Full Post…

PROVIDENCE – Brown University has received a $497,990 grant from the Andrew W. Mellon Foundation to expand the international exposure of Humanities scholars and professors.

The program, “Brown in the World/The World at Brown,” is a three-year, two-part program to be launched by the Cogut Center for the Humanities.

The Brown in the World portion will allow graduate and postdoctoral fellows to spend one semester at an international institution, “with the goal of enriching their perspectives, teaching abilities, scholarship, and networks of international colleagues,” the university said in a news release on Jan. 27.

T

Full Post…

— Myra K. Morris, a partner at Royston, Rayzor, Vickery & Williams, LLP has been elected to membership in the Fellows of the Texas Bar Foundation.

Morris, a native of Corpus Christi, also is board certified in labor and employment by the Texas Board of Legal Specialization.

WASHINGTON -(Dow Jones)- President Barack Obama on Thursday said prescription drug costs should be lower, and suggested giving the government power to directly negotiate drug prices and allowing medicines to be imported from abroad would be ways to lower prices.

The pharmaceutical industry has vehemently opposed both ideas, saying they would hamper innovation, harm the industry’s business model and expose Americans to unsafe drugs. Obama, during a live interview that aired on the video-sharing website YouTube, said the government should “look at” the two ideas.

His answer was prompted by a man who said his U.S.-made diabetes medicine is cheaper to purchase abroad.

Full Post…