Today's Reuters Business News Headlines - Yahoo! News:
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Small firms get help after Black Friday hangover
Sat,26 Nov 2011 04:14 PM PST
Reuters - NEW YORK (Reuters) - Tired of suffocating crowds and seemingly never-ending lines? On Saturday, retailers want you to think small. American Express is teaming up with FedEx Corp and other so-called Big Business companies to promote the second annual "Small Business Saturday," which seeks to drive more purchases at small, local businesses, like bakeries, clothing and accessories retailers and bars. The event falls between Black Friday, the day after Thanksgiving and the traditional start of the U.S. ... Full Story | Top |
Germany, France plan quick new Stability Pact: report
Sat,26 Nov 2011 04:11 PM PST
Reuters -  BERLIN (Reuters) - German Chancellor Angela Merkel and French President Nicolas Sarkozy are planning more drastic means - including a quick new Stability Pact - to fight the euro zone sovereign debt crisis, Welt am Sonntag reported on Sunday. The Sunday newspaper reported in an advance before publication that if necessary Germany and France were ready to join a number of countries in agreeing to tough budget discipline. ...
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Retailers look to keep Black Friday momentum going
Sat,26 Nov 2011 03:56 PM PST
Reuters -  (Reuters) - U.S. retailers moved from the frenzied start of the holiday shopping season to the next phase on Saturday, hoping to avoid a drop after Black Friday and keep the momentum going during a fitful economic recovery. After featuring the usual deep discounts on Thanksgiving on Thursday and on Friday, retailers were still offering bargains on Saturday as holiday spending is expected to show only about half the growth of last year. ...
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Small firms get help after Black Friday hangover
Sat,26 Nov 2011 03:13 PM PST
Reuters - NEW YORK (Reuters) - Tired of suffocating crowds and seemingly never-ending lines? On Saturday, retailers want you to think small. American Express is teaming up with FedEx Corp. and other so-called Big Business companies to promote the second annual "Small Business Saturday," which seeks to drive more purchases at small, local businesses, like bakeries, clothing and accessories retailers and bars. The event falls between Black Friday, the day after Thanksgiving and the traditional start of the U.S. ... Full Story | Top |
Black Friday sales rose 6.6 percent: source
Sat,26 Nov 2011 01:46 PM PST
Reuters - (Reuters) - Sales rose an estimated 6.6 percent to a record $11.4 billion on Black Friday, typically the busiest shopping day of the year for Americans, while the traffic at stores rose 5.1 percent, according to ShopperTrak. The day's sales growth was the strongest percentage gain since 2007, when sales rose 8.3 percent on the day after Thanksgiving, said Ed Marcheselli, chief marketing officer at ShopperTrak, which monitors retail traffic. As usual on Black Friday, retailers used deep discounts on popular items such as toys and televisions to lure shoppers as the holiday shopping season ... Full Story | Top |
Greece may miss 2012 selloff target due to EU crisis
Sat,26 Nov 2011 11:58 AM PST
Reuters -  ATHENS (Reuters) - Greece may miss its target for privatization revenues next year because of the worsening economic climate in Europe, the head of the agency responsible for selling state assets said in an interview to be published on Sunday. Greece's repeated failure to meet budget targets including for privatization revenues has angered international lenders, raising questions about whether they will continue indefinitely to keep the country afloat with bailout loans. ...
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Irish finmin sees slim chance of euro breakup: report
Sat,26 Nov 2011 02:56 AM PST
Reuters - VIENNA (Reuters) - Ireland has thought about contingency plans in case the euro zone disintegrates but thinks the chances of this happening are very small, an Austrian newspaper quoted Finance Minister Michael Noonan as saying. Asked by Der Standard newspaper whether he was bracing for a collapse of the euro zone, Noonan said: "Not in detail. Of course we have considered emergency plans, but the possibility of it coming to this is very slight. ... Full Story | Top |
Bond market hammers Italy, Spain ponders outside help
Sat,26 Nov 2011 02:56 AM PST
Reuters -  ROME/MADRID (Reuters) - Italy's borrowing costs soared to their highest levels since Rome joined the euro on Friday, piling pressure on the newly installed government of Mario Monti at the end of a week in which the euro zone crisis tainted even safe haven Germany. A punishing bond sale, in which Italy was forced to pay a record 6.5 percent for six months paper, came after a disastrous German bond auction earlier in the week and the leaders of France, Germany and Italy failed to make headway in tackling the growing debt crisis. ...
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Violence, pepper spray mar Black Friday shopping
Fri,25 Nov 2011 06:20 PM PST
Reuters -  NEW YORK (Reuters) - Black Friday turned into a black mark against American shoppers as riotous crowds brawled over video games, waffle irons and towels, drawing international condemnation and even raising questions about the state of humanity. One of the most outrageous incidents of the day was in the Los Angeles area, where up to 20 people were injured after a woman at a Walmart used pepper spray to get an edge on other shoppers in a rush for Xbox game consoles. ...
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Former FBI director appointed MF Global trustee
Fri,25 Nov 2011 06:13 PM PST
Reuters - (Reuters) - Former FBI director Louis Freeh was appointed trustee in the MF Global bankruptcy case on Friday, days after he was hired to lead an independent probe into a sex abuse scandal at Penn State University. Freeh, also a former judge, was appointed by the United States trustee for the region, according to a court document. The move is subject to court approval. MF Global filed for bankruptcy protection on October 31, after $6.3 billion in risky bets on European sovereign debt spooked investors and an attempt to sell the firm failed. U.S. ... Full Story | Top |
Europe bond yields to keep stocks spellbound
Fri,25 Nov 2011 06:09 PM PST
Reuters -  NEW YORK (Reuters) - U.S. investors came to the Thanksgiving holiday table on Thursday mostly thankful that the week was a short one, or losses could have been larger. As another round of news and bond auctions from Europe begins next week, traders will watch closely sovereign bond yields that have kept markets on edge. Yields rose in almost every euro-zone country this week, and Germany failed to find enough bids for a 10-year auction. The S&P 500 reacted by posting a second straight week of declines and its worst week in two months. ...
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U.S. opening formal probe into GM Volt fire risk
Fri,25 Nov 2011 04:03 PM PST
Reuters -  (Reuters) - U.S. auto safety regulators are opening a formal investigation into fire risks in General Motors' Volt vehicles, the National Highway Traffic Safety Administration said on Friday. The NHTSA said it was taking the action after recreation this month of a May crash test resulted in fires in two out of three tests. ...
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Imperial, Ottawa in talks over Arctic pipeline
Fri,25 Nov 2011 03:27 PM PST
Reuters - CALGARY, Alberta (Reuters) - Imperial Oil Ltd and Ottawa have resumed talks over a financial support package for the Mackenzie gas pipeline in the Far North, but the company would not say on Friday if it was any closer to proceeding with the C$16.2 billion (US$15.4 billion) project. Discussions aimed at making the long-delayed development economically viable restarted some time in the second-half of this year after the two sides took a "hiatus" before the last federal election in May, Imperial spokesman Pius Rolheiser said. He declined to offer details. ... Full Story | Top |
Chevron keen for more Brazil oil, despite spill
Fri,25 Nov 2011 03:21 PM PST
Reuters - RIO DE JANEIRO (Reuters) - Chevron said on Friday it planned to invest $3 billion in Brazil over the next three years, despite uproar in the South American country after an oil spill this month caused by its offshore drilling. Chevron was ordered to halt its drilling in Brazil this week pending investigations by the Federal Police and other authorities, after an estimated 2,400 barrels of oil leaked from its Frade field off Rio de Janeiro's coast. Chevron's Head of Latin America and Africa operations, Ali Moshiri, said planned investments were on top of $2. ... Full Story | Top |
Corzine expected to testify at House hearing: source
Fri,25 Nov 2011 02:58 PM PST
Reuters -  WASHINGTON (Reuters) - Former MF Global Chief Executive Jon Corzine is expected to testify at a congressional hearing next month, a committee aide said on Friday, tamping down speculation that the former head of the bankrupt brokerage would decline to take part. The House Financial Services Committee announced earlier this week that Corzine, a former U.S. senator and governor of New Jersey and one-time head of Goldman Sachs, would appear at a December 15 investigations subcommittee hearing. ...
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