Today's Reuters Business News Headlines - Yahoo! News:
|
|
Stocks to track earnings with an eye on Europe
Sat,14 Apr 2012 10:34 PM PDT
Reuters -  NEW YORK (Reuters) - After suffering their worst two weeks of the year, stocks will look to quarterly earnings to determine whether the recent pullback has been exhausted or more losses are justified. Alcoa Inc opened the earnings season with a bang, reporting a first-quarter profit on Tuesday instead of the expected loss. That positive surprise foretold a trend. Of the 32 companies in the S&P 500 that have reported earnings so far, Thomson Reuters data showed that 75 percent - or two dozen - have beaten Wall Street's expectations. ...
Full Story | Top |
Global stocks, euro sag as China GDP spooks investors
Sat,14 Apr 2012 10:29 PM PDT
Reuters -  NEW YORK (Reuters) - U.S. stocks closed out its worst week this year and the euro fell on Friday after disappointing Chinese growth data stoked worries about the strength of the global economy and a rise in Spain's borrowing costs revived fears about the debt-plagued euro zone. A sharp re-emergence of fears over contagion from the euro zone debt crisis took a steep toll on bank shares in both Europe and the United States, as well as dragging down the euro against the dollar for the first time in three days. ...
Full Story | Top |
Analysis: China currency move nails hard landing risk coffin
Sat,14 Apr 2012 08:36 PM PDT
Reuters -  BEIJING (Reuters) - China's weekend reform of its currency regime nails shut the coffin on the last remains of doubt about whether the world's second biggest economy has successfully steered a course past a hard economic landing. Investors were questioning whether the worst sequential slowdown in China's economy since the 2008-09 global financial crisis could enter a sixth quarter after data on Friday revealed the weakest three months of annual growth in three years and a run rate below the official 7.5 percent 2012 target. ...
Full Story | Top |
U.S. says China making progress on currency, urges more
Sat,14 Apr 2012 04:01 PM PDT
Reuters - CARTAGENA, Colombia (Reuters) - A senior White House aide said on Saturday that China had made some progress toward easing restrictions on its currency but stressed the United States wanted to see more actions taken. At a briefing with reporters in Colombia, where President Barack Obama is attending a summit with Latin American leaders, White House adviser Ben Rhodes said the Obama administration was closely reviewing Beijing's announcement that it was doubling the size of its yuan's trading band against the dollar. ... Full Story | Top |
China gives currency more freedom with new reform
Sat,14 Apr 2012 04:01 PM PDT
Reuters -  China took a milestone step in turning the yuan into a global currency on Saturday by doubling the size of its trading band against the dollar, pushing through a crucial reform that further liberalizes its nascent financial markets. The People's Bank of China said it would allow the yuan to rise or fall 1 percent from a mid-point every day, effective Monday, compared with its previous 0.5 percent limit. ...
Full Story | Top |
IMF welcomes China's currency changes
Sat,14 Apr 2012 11:18 AM PDT
Reuters - WASHINGTON (Reuters) - The International Monetary Fund welcomed China's move on Saturday to double the size of its trading band against the dollar, and said it would help the country rebalance its economy. "I would like to welcome this important step by the People's Bank of China to increase the flexibility of their currency," IMF managing director Christine Lagarde said in a statement. "This underlines China's commitment to rebalance its economy toward domestic consumption and allow market forces to play a greater role in determining the level of the exchange rate. ... Full Story | Top |
Kenya regulator raises fuel prices across the board
Sat,14 Apr 2012 05:51 AM PDT
Reuters -  NAIROBI (Reuters) - Kenya's energy regulator raised the prices of diesel, petrol and kerosene on Saturday, a move driven by higher international crude oil costs and likely to ramp up inflation in east Africa's biggest economy. The Energy Regulatory Commission (ERC) increased the price of super petrol in the capital Nairobi by 6.81 shillings per litre to 118.50 shillings, and that of diesel by 3.67 shillings to 108.80 shillings. Kerosene prices in Nairobi went up by 2.14 shillings a litre to 86.28 shillings. The new prices come into effect on April 15 and stay in force for a month. ...
Full Story | Top |
Vornado says: "Everything's on the table"
Sat,14 Apr 2012 04:55 AM PDT
Reuters -  NEW YORK (Reuters) - Vornado Realty Trust , facing criticism from investors over its lackluster share price, said it is mulling an array of options including selling its stake in Toys R Us, buying back shares, and even breaking up the real estate investment trust. "Everything is on the table," Chairman Steven Roth wrote in his annual letter to shareholders, which was filed with the U.S. Securities and Exchange Commission on Friday. Vornado owns office buildings in New York and Washington, D.C., as well as retail property and has stakes in other companies. It also operates a fund business. ...
Full Story | Top |
Swiss banks to hand over staff names in U.S. tax row: report
Sat,14 Apr 2012 03:55 AM PDT
Reuters - ZURICH (Reuters) - Switzerland will allow banks to hand over the names of any employees and other third parties who helped wealthy Americans evade taxes to U.S. prosecutors, a Swiss newspaper reported on Saturday. Eleven Swiss banks including Credit Suisse and Julius Baer are under investigation in the United Stated for aiding U.S. citizens suspected of dodging taxes. In the latest attempt to end the long-running dispute, Switzerland's Federal Council has now authorized banks to hand over email traffic in connection with such clients to U.S. prosecutors, the Tages-Anzeiger newspaper reported. ... Full Story | Top |
Wall St posts worst 2 weeks since November
Sat,14 Apr 2012 01:32 AM PDT
Reuters -  NEW YORK (Reuters) - U.S. stocks closed their worst two-week slide since November with a selloff on Friday as disappointing China growth data sparked worries the global recovery was flagging. Based on the latest available data, the Dow Jones industrial average was down 136.99 points, or 1.05 percent, to end unofficially at 12,849.59. The Standard & Poor's 500 Index was down 17.31 points, or 1.25 percent, to finish unofficially at 1,370.26. The Nasdaq Composite Index was down 44.22 points, or 1.45 percent, to close unofficially at 3,011.33. For this week, the Dow was down 1. ...
Full Story | Top |
Timeline: China's reforms of yuan exchange rate
Sat,14 Apr 2012 01:18 AM PDT
Reuters - BEIJING (Reuters) - China took another step on Saturday towards turning the yuan into a global currency by doubling the size of its trading band against the dollar to 1 percent. By peeling back trading restrictions on the yuan, Beijing is working toward its goal of having a currency that trades relatively freely, or is basically convertible, by 2015. Below is a timetable of key reforms to China's foreign exchange system. ... Full Story | Top |
Lockheed wins $259 million deal for 2 more U.S. F-35s
Fri,13 Apr 2012 08:17 PM PDT
Reuters -  WASHINGTON (Reuters) - Lockheed Martin Corp on Friday won a $259 million contract adding two more F-35 fighter jets to a fifth batch of jets being purchased by the U.S. military, boosting the size of that order to 32 jets, the Pentagon and Lockheed officials said. Lockheed and the Pentagon are still negotiating the final terms of a fixed-price fifth production contract for the new radar-evading supersonic fighter jet, after reaching agreement in December on a $4 billion "undefinitized contract action" for 30 fighter jets. ...
Full Story | Top |
IMF funds drive caught in global power shift
Fri,13 Apr 2012 07:37 PM PDT
Reuters -  WASHINGTON (Reuters) - Tensions among some of the world's leading economies have boiled up over a plan to raise new resources for the International Monetary Fund to contain the euro zone debt crisis, and a quest by emerging economies to win more say in the global lender. World financial leaders gathering in Washington next week will focus on proposals for countries to contribute more money to the IMF so it is better prepared in case of fallout from any further escalation of Europe's debt problems. ...
Full Story | Top |
Stocks to track earnings with an eye on Europe
Fri,13 Apr 2012 06:41 PM PDT
Reuters -  NEW YORK (Reuters) - After suffering their worst two weeks of the year, stocks will look to quarterly earnings to determine whether the recent pullback has been exhausted or more losses are justified. Alcoa Inc opened the earnings season with a bang, reporting a first-quarter profit on Tuesday instead of the expected loss. That positive surprise foretold a trend. Of the 32 companies in the S&P 500 that have reported earnings so far, Thomson Reuters data showed that 75 percent - or two dozen - have beaten Wall Street's expectations. ...
Full Story | Top |
U.S. asks court to force J&J executive to testify
Fri,13 Apr 2012 05:45 PM PDT
Reuters - (Reuters) - The federal government has asked a court to force Johnson & Johnson executive Alex Gorsky to testify in a lawsuit involving allegations of kickbacks and Medicaid fraud. The U.S. Department of Justice said in Massachusetts federal court filing on Wednesday that Gorsky has "relevant knowledge" concerning the marketing of the anti-psychotic drug Risperdal to long-term care pharmacy Omnicare, Inc and about "allegedly illegal payments J&J made to induce Omnicare to purchase and recommend" the drug. The government sued the company in January 2010. ... Full Story | Top |
| |
|
No comments:
Post a Comment