Today's Reuters Business News Headlines - Yahoo! News:
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Yemen LNG says pipe blast to cut exports by four cargoes
Fri,30 Mar 2012 09:48 PM PDT
Reuters - DUBAI (Reuters) - The closure of the Yemen LNG terminal, after its feed pipeline was blown up on Friday night, is expected to cut its super-cooled gas exports by about four cargoes, the operator said in a statement. Gunemn blew up the 38 inch gas pipeline that links Yemen's block 18 to the liquefied natural gas (LNG) terminal at Balhaf on the Gulf of Aden in retaliation for a U.S. drone attack that killed at least five suspected al Qaeda militants hours earlier. "Yemen LNG confirms the sabotage," Yemen LNG, which is run by France's Total , said in a statement late on Friday. ... Full Story | Top |
Groupon revises 4th quarter results, shares fall
Fri,30 Mar 2012 07:15 PM PDT
Reuters -  (Reuters) - Groupon Inc unnerved investors again after it increased its previously reported fourth-quarter net loss and cut its revenue, blaming higher-than-anticipated refunds on deals. The company, which has been criticized for its unorthodox financial reporting in the run-up to a highly publicized 2011 IPO, said in its annual report filed on Friday that it has a "material weakness" in internal controls over its financial statement. Shares in the company, the leader in the fast-growing Internet daily-deals space populated by rivals such as Amazon. ...
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Wall St Week Ahead: After stocks' first-quarter run, focus turns to data
Fri,30 Mar 2012 06:05 PM PDT
Reuters -  NEW YORK (Reuters) - After the best first quarter in 14 years, the S&P 500 may be poised for a pullback as investors look to a slew of economic data for insight on the strength of the domestic economy. The Dow and the S&P 500 closed out their best first quarter since 1998 and the Nasdaq had its best first-quarter performance since 1991, largely on the back of improving domestic economic data. ...
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Forex lawsuit against BNY Mellon partly dismissed
Fri,30 Mar 2012 06:03 PM PDT
Reuters -  SAN FRANCISCO (Reuters) - A U.S. judge on Friday dismissed five out of nine claims against Bank of New York Mellon over its foreign exchange pricing practices, and shipped off four remaining claims to be tried in different state courts, according to a ruling. U.S. District Judge William Alsup in San Francisco gave the plaintiffs 21 days to file an amended lawsuit that attempts to address the deficiencies he found in their complaint. ...
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Appeals board upholds Arctic air permit for Shell
Fri,30 Mar 2012 05:38 PM PDT
Reuters -  ANCHORAGE, Alaska (Reuters) - A federal appeals panel has upheld an important air-quality permit issued to Shell for planned oil exploration offshore in the Arctic Ocean, bringing the company closer to its goal of drilling wells this summer. The U.S. Environmental Protection Agency's Environmental Appeals Board on Friday rejected challenges made by several environmental and Alaska native groups to a permit covering the drill ship and associated vessels Shell plans to mobilize in the Beaufort Sea off northern Alaska. ...
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Goldman, Landesbank argue CDOs in US appeals court
Fri,30 Mar 2012 05:03 PM PDT
Reuters -  NEW YORK (Reuters) - A U.S. appeals court was asked on Friday to decide whether Goldman Sachs Group Inc and TCW Asset Management Co should have foreseen the housing market implosion that caused a $37 million loss for German state-owned Landesbank Baden-Wurttemberg. A three-judge panel on Friday did not make an immediate ruling on a trial judge's decision last September to dismiss the German bank's lawsuit claiming fraud against Goldman and TCW, an investment advisor. ...
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Lawsuit says Simply Orange juice not so simple
Fri,30 Mar 2012 04:51 PM PDT
Reuters -  (Reuters) - Coca-Cola Co's Simply Orange juice brand isn't simply orange juice, according to a lawsuit filed against the beverage company on Friday. Instead, the lawsuit in an Illinois federal court claims that the product undergoes extensive processing, and is dependent upon added aroma and flavoring in a way not found in nature. The plaintiff, a consumer, accuses Coca-Cola of fraud, and seeks class action status. The consumer, Randall Davis, had bought the product - whose label says "100% Pure Squeezed Orange Juice" - at stores "for personal, family, or household purposes," the lawsuit said. ...
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Forex lawsuit against BNY Mellon partly dismissed
Fri,30 Mar 2012 04:49 PM PDT
Reuters - SAN FRANCISCO (Reuters) - A U.S. judge on Friday partially dismissed a lawsuit against Bank of New York Mellon over its foreign exchange pricing practices, according to a ruling. U.S. District Judge William Alsup in San Francisco gave the plaintiffs 21 days to file an amended lawsuit. He also granted BNY Mellon's request to move several claims brought by pension funds to other courts. Legal battles have raged for several years over claims that custodial banks, mainly BNY Mellon and State Street, routinely overcharged pension funds and other institutional clients on currency transactions. ...
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Exclusive: Soros' son strikes out on his own
Fri,30 Mar 2012 04:40 PM PDT
Reuters -  NEW YORK (Reuters) - The upheaval within billionaire investor George Soros' firm continues as one of his sons is separating some of his personal fortune to manage it himself. Jonathan Soros, who stepped down in September from day-to-day management of Soros Fund Management LLC, plans to hire at least one of his father's key employees, say two people familiar with the situation. The two sources said Soros' son intends to set up his own family office - something the Soros Fund converted to last year - with the help of David Kulsar, currently chief risk officer for the Soros Fund. ...
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Security breach hits U.S. card processors, banks
Fri,30 Mar 2012 04:39 PM PDT
Reuters -  (Reuters) - Four giant card-payment processors and large U.S. banks that issue debit and credit cards were hit by a data-security breach after third-party services provider Global Payments Inc discovered its systems were compromised by unauthorized access. It was not immediately clear how many cardholders became victims of the breach, which affected MasterCard Inc, Visa Inc, American Express Co and Discover Financial Services, as well as banks and other franchises that issue cards bearing their logos. U.S. ...
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Europe attracts money funds, but France on short leash
Fri,30 Mar 2012 04:28 PM PDT
Reuters - NEW YORK (Reuters) - The top 10 U.S. money market fund managers put money to work in short-term French and German government agency debt in February, part of a bigger move into core Europe that is likely to endure in coming months, say investors and analysts. Germany saw an inflow of at least $15.1 billion from the fund managers, an increase of 21 percent. France gained at least $13.9 billion, an increase of 18 percent. No other countries saw as large an inflow, according to a Reuters analysis of money market fund flow data provided by iMoneyNet. ... Full Story | Top |
Analysis: Moody's bank review may mark new era of lower ratings
Fri,30 Mar 2012 04:24 PM PDT
Reuters -  NEW YORK (Reuters) - The largest U.S. banks including Morgan Stanley, Bank of America and Citigroup are facing what could be a historic shift to lower credit ratings which could increase their cost of funding and reduce competitiveness in their capital markets businesses. Moody's Investors Service is reviewing 15 of the world's largest banks for possible credit ratings downgrades in mid-May, and broad cuts could send banks on average to their lowest historical levels. In the U.S. ...
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Current TV fires star commentator Olbermann
Fri,30 Mar 2012 04:22 PM PDT
Reuters -  (Reuters) - Current TV said on Friday it fired star news anchor Keith Olbermann after one year with the progressive public affairs network, accusing him of breaching his contract and trying to sabotage the TV channel. But Olbermann, in a series of Twitter postings on Friday, fired back at his former bosses saying Current's statements were untrue and vowing to take legal action. The outspoken liberal, who hosted a one-hour prime time show on Current, clashed with network executives earlier this year over coverage of the 2012 U.S. presidential election campaign. Former U.S. ...
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Merkel says Greece has chance to overcome crisis: paper
Fri,30 Mar 2012 04:09 PM PDT
Reuters -  PRAGUE (Reuters) - Greece has gone a long way on the path of reforms and now stands a chance to overcome its debt crisis but still faces many tough measures, German Chancellor Angela Merkel said in a newspaper interview to be published on Saturday. Merkel told Czech daily Lidove Noviny she wants Greece to stay in the euro zone, and that she was optimistic other euro zone countries would meet their pledges to cut budget deficits. "It (debt restructuring) has been done in a reasonable way and Greece now has a chance. ...
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Exclusive: Brazil prosecutor plans wider offshore oil probe
Fri,30 Mar 2012 03:23 PM PDT
Reuters -  RIO DE JANEIRO (Reuters) - A Brazilian federal prosecutor plans to expand his investigation of a November offshore oil spill in a field run by Chevron to areas operated by other companies in the country's main oil region. The probe will explore geological conditions and operational practices in the Campos Basin in an attempt to prevent future accidents, said Eduardo Santos de Oliveira, federal prosecutor for Campos, Brazil, the city for which the offshore oil province is named. ...
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