Today's Reuters Business News Headlines - Yahoo! News:
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Insight: In Bangalore, a remake to avoid being "Bangalored"
Wed,4 Apr 2012 10:11 PM PDT
Reuters -  BANGALORE (Reuters) - Rajesh Rao is among a handful of Indian entrepreneurs who may prevent the country's software industry from getting "Bangalored". The 41-year-old self-confessed geek runs Dhruva, a firm that sells content and services to global online game companies from a bungalow in a crowded suburb of a city that has come to embody outsourcing and the transfer of jobs from the West. But plain vanilla outsourcing - help desks and back office operations - is finding cheaper locations abroad. ...
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Exclusive: Low ratings could end cable deal for Gore's Current TV
Wed,4 Apr 2012 09:20 PM PDT
Reuters -  (Reuters) - Al Gore's Current TV has bigger problems to deal with than a potential lawsuit from fired news anchor Keith Olbermann - namely not getting kicked off Time Warner Cable for low ratings. According to three sources with knowledge of the situation, Time Warner Cable Inc's carriage agreement with Current TV stipulates that, if the left-leaning political news network fails to meet a minimum threshold for overall viewers in a given quarter, financial penalties such as Current TV being required to increase marketing and promotion spending on the cable operator's systems are triggered. ...
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Brent rises near $123; eyes U.S. jobs report
Wed,4 Apr 2012 08:28 PM PDT
Reuters -  SINGAPORE (Reuters) - Brent crude rose towards $123 a barrel on Thursday after falling sharply in the previous session on a big jump in U.S. oil inventories, as investors covered short positions ahead of a key U.S. economic report. Prices were also supported by fresh signs of a recovery in the U.S. economy and easing fears of a sharp slowdown in China. Market participants will be looking to the March nonfarm payrolls report from the U.S. on Friday for further evidence of expansion at the world's top oil consumer. Front-month Brent crude rose 61 cents to $122.95 a barrel by 0301 GMT (11.01 p.m. ...
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Rothschild to merge British and French assets - FT
Wed,4 Apr 2012 08:15 PM PDT
Reuters - LONDON (Reuters) - The Rothschild banking dynasty is to fully merge its operations in France and Britain under one holding company, the Financial Times reported on Thursday. The newspaper said the family aims to boost regulatory capital at a time when the investment-banking industry is fighting to adapt to tougher regulation and economic slowdown in Europe. ... Full Story | Top |
BHP coal mines to be hit by new stoppages April 12: union
Wed,4 Apr 2012 07:42 PM PDT
Reuters - SYDNEY (Reuters) - Australian coal mines owned by BHP Billiton and Mitsubishi Corp will be hit by a second work stoppage on April 12, with union workers planning to halt work for two days, a union official said on Thursday. "We're looking at next Thursday's night shift to start the stoppage through to Saturday day shift at all seven mines," Construction, Forestry, Mining and Energy Union (CFMEU) District President Stephen Smyth told Reuters. The mines, operated under the BHP Billiton-Mitsubishi Alliance joint venture, have a combined output capacity of more than 58 million metric tons (63. ... Full Story | Top |
Strong yen seen accelerating auto production shift from Japan
Wed,4 Apr 2012 07:09 PM PDT
Reuters - NEW YORK (Reuters) - Despite the yen's recent retreat from record highs against the dollar it remains at a level that is driving Japanese automakers to shift production outside their home base and to North America in particular, industry executives said this week. The currency's strength has eaten into automakers' margins and made it more costly to build vehicles at factories in Japan. Nissan Motor Co is planning to move output of its Infiniti brand outside Japan, likely to North America or China, Chief Executive Carlos Ghosn said on the sidelines of the New York auto show on Wednesday. ... Full Story | Top |
Madoff wives to face trustee claims in Ponzi case
Wed,4 Apr 2012 06:28 PM PDT
Reuters -  NEW YORK (Reuters) - The trustee seeking money for victims of Bernard Madoff's Ponzi scheme, who lost an estimated $20 billion, may pursue claims against wives of the imprisoned swindler's sons, a U.S. federal court judge said on Wednesday. U.S. Bankruptcy Judge Burton Lifland in Manhattan said the trustee Irving Picard may pursue about $43 million of claims against Deborah Madoff, who married Andrew Madoff; and $33 million of claims against Stephanie Mack, the widow of Mark Madoff. ...
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Yahoo to lay off 2,000 employees
Wed,4 Apr 2012 06:10 PM PDT
Reuters -  (Reuters) - Yahoo Inc will lay off 2,000 people, or 14 percent of its workforce, in its deepest round of job cuts in years as new Chief Executive Scott Thompson tries to jumpstart growth with a leaner, more agile company while saving hundreds of millions of dollars. Wall Street's reaction was lukewarm, after two previous Yahoo CEOs failed to find an answer to rivals like Web-search leader Google and the Facebook social-networking site. ...
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TSX slides to 12-week low as resources sink
Wed,4 Apr 2012 06:03 PM PDT
Reuters -  TORONTO (Reuters) - Sinking commodity stocks led Canadian equities to a near 12-week low on Wednesday, a day after the U.S. central bank crushed hopes for more monetary stimulus and as a weak Spanish bond auction signaled the effects of earlier European funding operations may be waning. Big names on the downside included Suncor Energy, which plunged 4.5 percent to C$31.26, Goldcorp, which lost 4.9 percent to C$40.98 and Barrick Gold, which slid 3.2 percent to C$41.16 as the price of gold fell to its lowest levels in nearly three months. ...
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Google takes wraps off Web-based digital glasses
Wed,4 Apr 2012 05:04 PM PDT
Reuters -  SAN FRANCISCO (Reuters) - Google Inc is getting into the eyewear business with a pair of thin wraparound shades that puts the company's Web services in your face. The experimental "augmented reality" glasses - from the same team that is developing self-driven cars - can snap photos, initiate videochats and display directions at the sound of a user's voice. The prototype digital glasses, unveiled on the company's Google+ social network on Wednesday, are still being tweaked and tested, and are not available in stores yet. ...
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Americans brace for next foreclosure wave
Wed,4 Apr 2012 04:09 PM PDT
Reuters -  GARFIELD HEIGHTS, Ohio (Reuters) - Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end. House sales are picking up across most of the country, the plunge in prices is slowing and attempts by lenders to claim back properties from struggling borrowers dropped by more than a third in 2011, hitting a four-year low. But a painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures. ...
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Wall Street down on stimulus doubts, Spain debt sale
Wed,4 Apr 2012 04:01 PM PDT
Reuters -  NEW YORK (Reuters) - Stocks fell for a second day on Wednesday as investors contemplated a world without monetary stimulus and a poorly received bond auction in Spain suggested the effects of Europe's funding operations were waning. Selling was broad as indexes tracking nine of the 10 S&P 500 sectors ended lower, with financial, materials and technology shares the worst performers. The S&P's financial index fell 1.6 percent. Shares of Morgan Stanley, often sensitive to concerns over Europe, dropped 3.5 percent to $18.69. ...
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Exclusive: Falcone mulls voluntary bankruptcy for LightSquared
Wed,4 Apr 2012 03:59 PM PDT
Reuters -  NEW YORK (Reuters) - Hedge fund manager Philip Falcone said in an interview on Wednesday he is "seriously considering" filing a voluntary bankruptcy for LightSquared, the struggling telecom startup in which his Harbinger Capital Partners is the majority owner. Falcone said a bankruptcy is one of several options he is considering as he tries to find a way to salvage the company, which reported a $427 million net loss during the first nine months of 2011, and keep its creditors at bay. ...
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Yahoo to lay off 2,000 employees
Wed,4 Apr 2012 03:27 PM PDT
Reuters -  (Reuters) - Yahoo Inc will lay off 2,000 people, or 14 percent of its workforce, in its deepest round of job cuts in years as new Chief Executive Scott Thompson tries to jumpstart growth with a leaner, more agile company while saving hundreds of millions of dollars. Wall Street's reaction was lukewarm, after two previous Yahoo CEOs failed to find an answer to rivals like Web-search leader Google and the Facebook social-networking site. ...
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Analysis: Alternate growth gauge points to more U.S. job gains
Wed,4 Apr 2012 03:22 PM PDT
Reuters - WASHINGTON (Reuters) - An alternate measure of the health of the U.S. economy suggests the current pace of job growth can be sustained at least through the rest of the year. A dramatic fall in the unemployment rate from 9.1 percent last August to 8.5 percent by year end despite sluggish overall growth had puzzled analysts. But data last Friday on this alternate growth gauge showed more strength in the economy late last year than was captured in gross domestic product, the conventional measure of growth. GDP expanded at a 1.8 percent annual rate in the third quarter and by 3. ... Full Story | Top |
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