Today's Reuters Business News Headlines - Yahoo! News:
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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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High-frequency firm fined for trading malfunctions
Fri,25 Nov 2011 02:47 PM PST
Reuters - (Reuters) - Exchange operator CME Group Inc fined Infinium Capital Management, a U.S. high-frequency trading firm, a total of $850,000 for three separate computer malfunctions that rattled futures markets in 2009 and 2010. Infinium trading programs malfunctioned on October 7 and again on October 28, 2009, causing uncontrolled selling of e-mini contracts on the Chicago Mercantile Exchange. Then on February 3, 2010, the firm lost control of an algorithm that bought oil futures in rapid succession on the New York Mercantile Exchange. ... Full Story | Top |
U.S. opening formal probe into GM Volt fire risk
Fri,25 Nov 2011 02:46 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 it was taking the step after efforts to recreate a May crash test saw fires result from two out of three crash tests performed this month. ...
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TSX hits near 2-month low on Europe debt fears
Fri,25 Nov 2011 02:30 PM PST
Reuters -  TORONTO (Reuters) - Toronto's main stock index hit a near two-month low on Friday as resource-related issues fell after euro-zone debt downgrades and as another poor showing for Italian and German bond sales sparked fears about the European economy. A slew of bad news from Europe and light trading due to the U.S. Thanksgiving holiday proved a bad combination for the commodities-heavy index, which suffered its worst weekly fall since early October, dropping more than 4 percent. ...
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Stocks suffer worst week in 2 months on Europe woes
Fri,25 Nov 2011 02:26 PM PST
Reuters -  NEW YORK (Reuters) - Stocks posted seven straight sessions of losses on Friday, ending the worst week in two months, as the lack of a credible solution to Europe's debt crisis kept investors away from risky assets. Wall Street traded higher for most of the abbreviated session on hopes that "Black Friday," the traditional start of the U.S. holiday shopping season, would support major retailers. But gains were quickly offset by headlines out of Europe that further dented market sentiment. With less than 20 minutes before the close, all three stock indexes had turned negative. ...
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Irish Life suspends sale of insurance arm
Fri,25 Nov 2011 02:24 PM PST
Reuters - (Reuters) - Irish Life & Permanent has suspended the sale of its life insurance arm and the Irish government will likely have to put 1 billion euros into the bancassurer to meet tough new capital requirements under an EU-IMF bailout. "The current very challenging market conditions are not conducive to concluding a transaction of this size at this time and in that context the process has been suspended," the group said in a statement. ... Full Story | Top |
AT&T to offer bigger asset sale to save T-Mobile deal: report
Fri,25 Nov 2011 02:20 PM PST
Reuters -  (Reuters) - AT&T Inc is considering an offer to divest a significantly larger portion of assets than it had initially expected, in order to salvage its $39 billion deal to buy T-Mobile USA, Bloomberg reported citing a person familiar with the plan. Bloomberg said the exact size of the divestiture hasn't been determined but reported it could be as much as 40 percent of T-Mobile USA's assets. ...
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Loonie slips past 7-week low on Italy, Belgium
Fri,25 Nov 2011 01:52 PM PST
Reuters - TORONTO (Reuters) - Canada's dollar on Friday sank to its weakest against the U.S. dollar in more than seven weeks on growing anxiety that the euro debt crisis could lead to a break-up of the currency bloc. Investors were rattled by word that Italy paid a record 6.5 percent to borrow money over six months and that its longer-term funding costs soared. Standard & Poor's downgrade of Belgium's credit rating to AA from AA-plus added to a growing list of danger signals. ... Full Story | Top |
Bank of New York flinches on charging deposit fee
Fri,25 Nov 2011 01:50 PM PST
Reuters -  (Reuters) - Bank of New York Mellon Corp, which was derided for a plan to charge some of its large corporate and investment management clients for holding their deposits, appears to have flinched. The bank has not assessed a penny since warning clients about the possible deposit fee in early August, officials told Reuters, although it remains burdened by cash that it cannot profitably redeploy at rock-bottom interest rates. The fee of 0. ...
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