Today's Reuters Business News Headlines - Yahoo! News:
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Japan Airlines plans share listing of up to $13 billion: report
Wed,4 Jan 2012 10:32 PM PST
Reuters - TOKYO (Reuters) - Japan Airlines Co plans to relist its shares as early as September in a public offering that could raise up to 1 trillion yen ($13 billion), Bloomberg news reported on Thursday, marking the carrier's recovery from bankruptcy and restructuring. A Japan Airlines spokesman declined to comment, although the company had said it would consider returning to the stock market when a government-backed turnaround body sells its $4.3 billion stake by the end of this year. ... Full Story | Top |
Shares, euro dip; French bond auction eyed
Wed,4 Jan 2012 10:04 PM PST
Reuters -  TOKYO (Reuters) - Asian shares and the euro eased on Thursday as concerns about the ability of euro zone countries to refinance their huge public debt dampened investors' appetite for risk ahead of a French bond auction later in the day. MSCI's broadest index of Asia Pacific shares outside Japan fell 0.2 percent, off its highest in nearly a month touched on Wednesday, dragged lower by Australian shares. Firm banks boosted China shares and supported Hong Kong stocks. Japan's Nikkei slipped from Wednesday's three-week high to trade down 0.8 percent. ...
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US Congress presses rating agencies on MF Global: report
Wed,4 Jan 2012 09:12 PM PST
Reuters -  (Reuters) - Congressional investigators have stepped up their inquiry into the work of credit rating firms that examined MF Global's overly risky bets on European government bonds and whether they overlooked crucial information in their evaluations, the Wall Street Journal reported, citing people familiar with the matter. ...
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SAG pension chief Bruce Dow takes leave of absence
Wed,4 Jan 2012 09:07 PM PST
Reuters - LOS ANGELES (TheWrap.com) - Bruce Dow, the chief executive officer of the Screen Actors Guild -- Producers Pension & Health Plans (SAG-PPHP) will take a leave of absence from the organization, TheWrap has learned. Dow has been dogged by allegations from an ousted employee that he covered up an embezzlement scheme and used the funds for personal expenses. Less than two weeks ago, the board of trustees for SAG-PPHP released a statement to members announcing that a review of the charges by an outside counsel found that the bulk of the allegations against Dow were false. ... Full Story | Top |
Former Morgan Creek files for Chapter 11 bankruptcy
Wed,4 Jan 2012 09:06 PM PST
Reuters - LOS ANGELES (TheWrap.com) - A company that owns rights to Morgan Creek's international library has filed for Chapter 11 bankruptcy protection. The Bermuda-based Inverness Distribution Ltd., filed papers in Bankruptcy Court in New York on December 30. It already had filed for Chapter 15 bankruptcy protection. Under Chapter 15, Inverness was shielded from lawsuits from creditors in the U.S. The new status will let Inverness, now run by liquidators who were appointed by officials in Bermuda, file lawsuits in the United States. ... Full Story | Top |
BP fund resumes payments to spill victims
Wed,4 Jan 2012 07:08 PM PST
Reuters - (Reuters) - BP's $20 billion oil spill fund said it had resumed payments to eligible victims on Wednesday after receiving clarification from a U.S. district court regarding an escrow account set up to cover certain legal expenses incurred by the plaintiffs' lawyers. The U.S. District Court for the Eastern District of Louisiana had earlier asked the fund called the Gulf Coast Claims Facility (GCCF) to pay into a court supervised escrow account 6 percent of the gross settlement amount. ... Full Story | Top |
Kodak prepares for Chapter 11 filing: report
Wed,4 Jan 2012 05:51 PM PST
Reuters -  (Reuters) - Eastman Kodak is preparing a Chapter 11 bankruptcy protection filing in case it is unable to sell its digital patents to raise capital, The Wall Street Journal reported on Wednesday. The once-iconic photographic film pioneer is in talks with potential lenders to secure about $1 billion in debtor-in possession financing to sustain Kodak through bankruptcy proceedings, the Journal reported, citing unidentified sources. The Chapter 11 filing could come as soon as this month or early February, the newspaper said. ...
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NBCUniversal reveals new West Coast headquarter plans
Wed,4 Jan 2012 04:48 PM PST
Reuters - LOS ANGELES (TheWrap.com) - Two weeks after abandoning plans for an expansive new facility, NBCUniversal has unveiled plans for state-of-the-art headquarters for its West Coast television operations. The 150,000 square-foot facility, formerly occupied by Technicolor, will sit on Universal's Studios lot and house the L.A. bureaus of NBC News and Telemundo, along with local broadcast stations KNBC and KVEA. ... Full Story | Top |
Possible data breach by Wells Fargo investigated
Wed,4 Jan 2012 04:43 PM PST
Reuters -  (Reuters) - Connecticut's attorney general is investigating a possible data breach in which Wells Fargo & Co may have disclosed customer Social Security numbers as part of a fraud investigation. The possible breach is the latest wrinkle in a probe into whether state employees falsified financial information on applications submitted for food benefits issued in the aftermath of Hurricane Irene, which struck the U.S. East Coast last fall. ...
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Automakers see slower U.S. sales growth in 2012
Wed,4 Jan 2012 04:28 PM PST
Reuters -  DETROIT (Reuters) - U.S. auto sales rose 10 percent in 2011 but major automakers forecast a slowdown in growth this year because of weak job growth and risks to the American economy from a slowdown in Europe. Auto sales have been a relative bright spot in the economy since late summer with cash-strapped consumers forced to buy to replace cars that have been on the road for a decade or more. December U.S. auto sales rose 9 percent to hit an annualized sales rate of 13.6 million vehicles, in line with Wall Street expectations. Full-year 2011 sales totaled 12.8 million vehicles compared with 11. ...
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Yahoo names PayPal's Thompson as CEO
Wed,4 Jan 2012 04:25 PM PST
Reuters -  SAN FRANCISCO (Reuters) - Yahoo Inc named PayPal President Scott Thompson as its chief executive on Wednesday, hoping the well-regarded Internet technology and e-commerce expert will replicate his success at eBay Inc and turn around the struggling company. Thompson, credited with driving growth at eBay's online payments division PayPal, joins Yahoo during a period of turmoil, as the company plows ahead with a strategic review in which discussions have included the possibility of being sold, taken private or broken up. ...
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Boeing to close Wichita plant, cites defense cuts
Wed,4 Jan 2012 04:10 PM PST
Reuters - (Reuters) - Boeing Co said it would close a plant in Wichita by the end of 2013 that employs more than 2,160 workers maintaining and converting planes for the military, part of a move to cut costs as the U. S. defense budget tightens. The decision announced on Wednesday drew a bitter reaction from Kansas politicians, who felt Boeing had betrayed commitments to the state and their efforts to help the company win a big refueling aircraft contract from the U.S. Air Force. The Wichita plant is the base for the company's Global Transport & Executive Systems business, which supports the U.S. ... Full Story | Top |
Suncor, others lift veil on pipeline support
Wed,4 Jan 2012 03:43 PM PST
Reuters - CALGARY, Alberta (Reuters) - A quintet of Canada's largest oil sands producers has contributed money and signed shipping deals in support of Enbridge Inc's Northern Gateway pipeline to the Pacific Coast, according to documents filed days before hearings into the contentious proposal are due to start. Suncor Energy Inc , Cenovus Energy Inc , Nexen Inc , Total SA and MEG Energy Corp came forward on Wednesday for the first time with their interests in the C$5.5 billion ($5.42 billion) project in National Energy Board filings. ... Full Story | Top |
Former Murdoch editor hired by rival NY tabloid
Wed,4 Jan 2012 03:08 PM PST
Reuters - NEW YORK (Reuters) - The Daily News of New York has hired Colin Myler as its editor-in-chief, an appointment that is certain to add spice to the newspaper's long and heated rivalry with the New York Post and its owner, Rupert Murdoch. Myler, who replaces Kevin Convey, had long been a close lieutenant of Murdoch, serving as managing editor of the New York Post before he was brought to London to clean up the scandal-plagued News of The World in 2007. Myler oversaw the News of the World until the 168-year-old tabloid was closed this summer. ... Full Story | Top |
Judge blocks Clorox cat litter ad
Wed,4 Jan 2012 02:42 PM PST
Reuters - (Reuters) - A federal judge blocked Clorox Co from airing a TV commercial for its Fresh Step cat litter after the company ruffled the fur of a rival that said the ad was false. District Judge Jed Rakoff in Manhattan on Wednesday said Church & Dwight Co, which makes cat litter under its Arm & Hammer brand, showed a high likelihood of "irreparable harm" from Clorox's ad. Rakoff issued a preliminary injunction to halt the ad, which began airing last February, while litigation continues. ... Full Story | Top |
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