Friday, April 6, 2012

Daily News Digest: Reuters Business News Headlines - Yahoo! News

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Friday, April 6, 2012 12:01 AM PDT
Today's Reuters Business News Headlines - Yahoo! News:
U.S. likely added over 200,000 jobs in March for 4th month
Thu,5 Apr 2012 09:15 PM PDT
Reuters - WASHINGTON (Reuters) - U.S. payrolls likely rose by more than 200,000 for the fourth straight month in March, suggesting the economy is steadily healing and needs no extra monetary policy support from the Federal Reserve for now. That would mark the longest stretch of increases of more than 200,000 per month in non-farm payrolls since 1999. The unemployment rate is seen holding steady though at a three-year low of 8.3 percent for a third month in a row. ... Full Story
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U.S. online jobs index flat at 143 in March
Thu,5 Apr 2012 09:14 PM PDT
Reuters - (Reuters) - A monthly gauge of online labor demand in the United States held steady in March, with transportation and retail registering strong growth, the operator of a job search website said on Friday. Monster Worldwide Inc , an online careers and recruiting firm, said its employment index was unchanged from February at 143. The index was up 5 percent from a year earlier. The index showed annual growth in 16 of the 20 industries and 20 of the 23 occupations monitored last month. The report was another look at the jobs market ahead of the government's non-farm payrolls report later on ... Full Story
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Samsung hits a high Note, posts record quarterly profit
Thu,5 Apr 2012 07:49 PM PDT
Reuters - SEOUL (Reuters) - Samsung Electronics posted record quarterly profit of $5.15 billion, driven by booming sales of its smartphones and the Galaxy Note 'phablet', which it hopes will show it has a flair for innovation to match rival Apple Inc. The Note - part phone, part mini-tablet - with a throwback stylus and screen half the size of the iPad, has sold more than 5 million since launching in October, and is proving a surprise money earner for the South Korean electronics giant that has a reputation as a 'fast follower' rather than design leader. ... Full Story
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Wall St Week Ahead: Will earnings spark further stock declines?
Thu,5 Apr 2012 06:03 PM PDT
Reuters -

The Wall Street sign is seen outside the New York Stock ExchangeNEW YORK (Reuters) - Since October, estimates for first-quarter earnings growth have tumbled while the S&P 500 has surged. With the earnings season starting next week, the outlook is not as sunny as in previous quarters. Investors will assess whether slower growth is priced into the U.S. stock market, or if the S&P 500's retreat from Monday's four-year high is the start of a larger decline - if results disappoint. Fund managers will look for earnings to offer insight into how companies are faring amid mixed economic indicators and a resurgence of concerns about Europe. ...


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Instant View: Samsung estimates record first quarter profit
Thu,5 Apr 2012 05:05 PM PDT
Reuters - SEOUL (Reuters) - Samsung Electronics, the world's top technology firm by revenue, estimated operating profit nearly doubled in January-March from a year ago, boosted by sales of its flagship Galaxy smartphones and its Note mini-tablet and phone. Samsung, which will release its full quarterly results on April 27, estimated its January-March operating profit at a record 5.8 trillion won ($5.15 billion) versus a consensus forecast of 5.0 trillion won from analysts surveyed by Thomson Reuters I/B/E/S. It estimated sales at 45 trillion won. ... Full Story
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Instant View: Samsung estimates record first quarter profit
Thu,5 Apr 2012 04:48 PM PDT
Reuters - SEOUL (Reuters) - Samsung Electronics, the world's top technology firm by revenue, estimated operating profit nearly doubled in January-March from a year ago, boosted by sales of its flagship Galaxy smartphones and its Note mini-tablet and phone. Samsung, which will release its full quarterly results on April 27, estimated its January-March operating profit at a record 5.8 trillion won ($5.15 billion) versus a consensus forecast of 5.0 trillion won from analysts surveyed by Thomson Reuters I/B/E/S. It estimated sales at 45 trillion won. ... Full Story
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Instant View: Samsung estimates record first quarter profit
Thu,5 Apr 2012 04:35 PM PDT
Reuters - SEOUL (Reuters) - Samsung Electronics, the world's top technology firm by revenue, estimated operating profit nearly doubled in January-March from a year ago, boosted by sales of its flagship Galaxy smartphones and its Note mini-tablet and phone. Samsung, which will release its full quarterly results on April 27, estimated its January-March operating profit at a record 5.8 trillion won ($5.15 billion) versus a consensus forecast of 5.0 trillion won from analysts surveyed by Thomson Reuters I/B/E/S. It estimated sales at 45 trillion won. ... Full Story
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Coke withdraws from group that backs Stand Your Ground law
Thu,5 Apr 2012 04:06 PM PDT
Reuters -

Trucks containing cases of Coca-Cola sit outside a warehouse at the Swire Coca-Cola facility in DraperORLANDO, Fla./NEW YORK (Reuters) - Coca-Cola Co is dropping its membership in a conservative national advocacy group that supports "Stand Your Ground" laws such as the one being used as a defense in the Florida killing of an unarmed black teenager, Trayvon Martin. The move by the world's biggest soft drink maker comes as corporate America faces increased scrutiny from consumers and shareholder activists over lobbying and political spending. PepsiCo Inc ended its relationship with the group - the American Legislative Exchange Council (ALEC) - in January. ...


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U.S. grain group recommends safeguards after MF Global collapse
Thu,5 Apr 2012 03:56 PM PDT
Reuters -

The sign marking the MF Global Holdings Ltd. offices at 52nd Street in midtown Manhattan is seen in New YorkCHICAGO (Reuters) - The largest U.S. grain trade group on Thursday said Congress and commodities regulators should adopt its recommendations to protect customer funds and restore market confidence after the collapse of giant broker MF Global. "The demise of MF Global has shaken the confidence of many futures market participants concerning the safety of segregated customer funds," the National Grain and Feed Association said in letters to the Senate and House Agriculture Committees and to the Commodity Futures Trading Commission. ...


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Former Tyco CEO Kozlowski denied parole
Thu,5 Apr 2012 03:38 PM PDT
Reuters -

Former chief executive of Tyco International Dennis Kozlowski leaves New York State Supreme Court.NEW YORK (Reuters) - Dennis Kozlowski, the former Tyco International CEO whose $6,000 shower curtain made him a symbol of corporate greed, was denied parole this week, New York's Department of Corrections said on Thursday. Kozlowski, 65, is serving a sentence of 8-1/3 to 25 years for looting Tyco International of more than $100 million. He has been behind bars for more than six years. The state's Parole Board said after a hearing on Tuesday that Kozlowski's release would "deprecate the seriousness" of his crimes and "undermine respect for the law. ...


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Yahoo plans Tuesday reorganization meeting: source
Thu,5 Apr 2012 03:33 PM PDT
Reuters -

The Yahoo! offices are pictured in Santa MonicaSAN FRANCISCO (Reuters) - Yahoo Inc CEO Scott Thompson will outline his long-term strategy and vision for the struggling Internet company at an all-hands meeting for staff next Tuesday, a source at the company told Reuters, days after Thompson announced the deepest round of job cuts in years. The company, once a dominant Internet media and search powerhouse which has seen its growth eclipsed by Google Inc and Facebook, announced this week it would lay off 2,000 people and set in motion a broad restructuring. It did not provide details of that plan. ...


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Federal judge approves $25 billion mortgage pact
Thu,5 Apr 2012 03:18 PM PDT
Reuters -

Protesters hold signs wishing Wells Fargo bank a 160th anniversary during a march to protest foreclosures in Los AngelesWASHINGTON (Reuters) - A federal judge approved a $25 billion mortgage settlement with five top U.S. banks over allegations of foreclosure abuses and misconduct in servicing home loans, according to court documents. U.S. District Judge Rosemary Collyer signed the previously announced series of settlements on Wednesday but the approval was not made public until Thursday. The civil allegations were brought by 49 states and the federal government. The banks did not admit to the accusations. ...


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CIT CEO Thain's 2011 pay rose 23 percent to $8.2 million
Thu,5 Apr 2012 03:02 PM PDT
Reuters - (Reuters) - CIT Group Inc, the small-business lender that has been recovering from a 2009 bankruptcy, gave its chairman and chief executive John Thain a 23 percent rise in pay to $8.2 million in 2011, the company said on Thursday. Thain, the former chief executive of Merrill Lynch and NYSE Euronext, was given a bonus incentive of $1.9 million in cash - 125 percent of his target - for exceeding many of his performance goals, the New York-based company's compensation committee wrote in CIT's 2012 proxy filing with the Securities and Exchange Commission. ... Full Story
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Target's Canada move to be reviewed for "culture"
Thu,5 Apr 2012 02:57 PM PDT
Reuters - OTTAWA (Reuters) - The Canadian government has ordered a review of U.S. retail giant Target Corp's plan to move into Canada, examining whether it would be of net cultural benefit to Canada. The March 27 decision, which only came to light on Thursday, said cabinet ordered the review under the Investment Canada Act on the recommendation of Heritage Minister James Moore. The review would involve looking at whether the store's "cultural" sales, for example books, will contain enough Canadian content. ... Full Story
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Coke withdraws from advocacy group that backs gun laws
Thu,5 Apr 2012 02:56 PM PDT
Reuters -

Chairs with the Coca-Cola logo are pictured in a conference room during a media tour at PT Coca-Cola Amatil Indonesia's factory in CibitungORLANDO, Fla./NEW YORK (Reuters) - Coca-Cola Co is dropping its membership in a conservative national advocacy group that supports "Stand Your Ground" laws such as the one being used as a defense in the Florida killing of an unarmed black teenager, Trayvon Martin. The move by the world's biggest soft drink maker comes as corporate America faces increased scrutiny from consumers and shareholder activists over lobbying and political spending. PepsiCo Inc ended its relationship with the group - the American Legislative Exchange Council (ALEC) - in January. ...


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