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Business News on May 12, 2012


Tata owned Jaguar Land Rover plans to spend extra 1billion pounds, create 300 new jobs in UK
Tata owned car giant Jaguar Land Rover is set to spend an extra 1 billion pound with suppliers in the UK over the next four years which would create 300 new employment opportunities in the country. ANI

Apple may attempt to push Android Tabs off market by selling iPad Mini at a loss
In an attempt to counter the burgeoning number of Android Tab market, tech giant Apple is releasing an 'iPad Mini' at a loss-making price of around 150 pounds. ANI

Economist defends relationship between state, private enterprises
China's state-owned enterprises (SOEs) and private businesses are not oppositional forces, but complementary ones, and allegations of a widening development gap between the two sectors is a totally "false proposition," according to a renowned Chinese economist. ANI

Fitch downgrades JPMorgan Chase after huge loss
Fitch Ratings downgraded JPMorgan Chase's long term debt rating to A+ from AA- on Friday after the bank reveals a stunning trading loss, citing reputational risk and risk governance deficiencies. ANI

London-based trader 'Voldemort' behind J P Morgan's staggering $2billion bank 'black hole'
A London based trader, nicknamed 'Voldemort' is believed to be responsible for the 2 billion dollar trading loss for investment bank JP Morgan. ANI

Facebook to give more info on usage of data shared by users
Social networking giant Facebook is making efforts to give users a clearer picture on how the information they share is used by the firm. ANI

Facebook testing new 'pay for promoting posts' system
Social networking giant Facebook is testing a new 'pay to promote' system that would allow users to pay a small fee to make their posts more visible to their friends. ANI

'Cool' Apple can never become 'uncool', claims co-founder Wozniak
Tech giant Apple's co-founder Steve Wozniak has said that firm's technology is so good it would never become a victim of its own success by becoming uncool. ANI

Facebook could be worth over $100bn as IPO 'already oversubscribed'
Social networking giant Facebook's Initial Public Offering (IPO) is already oversubscribed, raising expectations that the firm could be worth over 100 billion dollars when it places its shares in the upcoming week. ANI

Virgin Atlantic to become first UK airline providing in-flight mobile access
Virgin Atlantic is all set to offer in-flight mobile access to its passengers, which will make it the first British airline to provide such a service.he service will initially start on Virgin's new Airbus A330 planes flying from London to New York, with passengers being able to make phone calls, send texts and have web access. ANI

Omnicare to Present at the Bank of America Merrill Lynch 2012 Health Care Conference
CINCINNATI, May 11, 2012 - Omnicare, Inc. (NYSE:OCR) today announced that it will present at the Bank of America Merrill Lynch 2012 Health Care Conference on Wednesday, May 16, 2012 at 8:00 a.m. PT (11:00 a.m. ET) in Las Vegas, Nevada.The events will be broadcast live over the Internet and can be accessed from Omnicare's Investor Relations website at http://ir.omnicare.com ACN Newswire

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