Today's Reuters Business News Headlines - Yahoo! News:
|
|
Fed officials differ on whether more easing needed
Wed,27 Jun 2012 10:52 PM PDT
Reuters - CHICAGO (Reuters) - Top Federal Reserve officials differed on whether the U.S. central bank needs to be more aggressive in spurring economic growth, indicating another round of easing is far from certain. Chicago Federal Reserve Bank President Charles Evans, one of the U.S. central bank's strongest advocates for further monetary policy easing, said Wednesday he is flummoxed by the Fed's timidity in the face of high unemployment and low inflation. ... Full Story | Top |
Asian shares, euro edge up but EU summit worries cap gains
Wed,27 Jun 2012 10:25 PM PDT
Reuters -  TOKYO (Reuters) - Asian shares rose on Thursday on encouraging U.S. economic data, but prices were capped with investors tense ahead of a European Union summit of leaders deeply divided on how to tackle the long euro zone debt crisis and stop it from spreading. European shares were likely to extend Wednesday's gains modestly, with spreadbetters predicting that region's major markets would open as much as 0.3 percent higher. U.S. stock futures were up 0.1 percent. ...
Full Story | Top |
Brent stays above $93 as investors eye EU summit outcome
Wed,27 Jun 2012 09:52 PM PDT
Reuters - SINGAPORE (Reuters) - Brent crude stayed above $93 per barrel on Thursday after rallying on an output cut by Norway and positive economic data from the United States, while investors eyed a summit of EU leaders that is unlikely to produce concrete measures to contain the bloc's protracted debt crisis. EU leaders will start a two-day meeting in Brussels openly divided on Thursday, with German Chancellor Angela Merkel pitting herself against France and Italy, insisting that they put the bloc's fundamental problems ahead of pleas for emergency action. Brent crude was up 5 cents at $93. ... Full Story | Top |
News Corp board approves company split: source
Wed,27 Jun 2012 09:49 PM PDT
Reuters -  (Reuters) - The board of News Corp approved in principle splitting the $60 billion media conglomerate into separate publishing and entertainment businesses, a person familiar with the situation said on Thursday. News Corp's board, overseen by 81-year-old chairman Rupert Murdoch, met on Wednesday and an announcement was expected later on Thursday on the decision to create two publicly traded companies, the source said, confirming a report in the Wall Street Journal. ...
Full Story | Top |
AT&T says AMC's new rates too steep
Wed,27 Jun 2012 09:45 PM PDT
Reuters -  (Reuters) - AT&T Inc said AMC Networks is seeking an "excessive rate increase" to renew its U-verse TV contract, which the mobile service provider believes is unreasonable. "AMC Networks is asking that AT&T pay nearly double what we believe other competitors pay - including a smaller-sized competitor," the company said in a statement late on Wednesday. AT&T's U-verse provides TV, Internet, and digital home phone services to about 4 million customers, and the company pays fees to AMC Networks for the right to package and sell the AMC, IFC and WE tv channels on the service. ...
Full Story | Top |
Canadian CFOs fret about Europe, pipelines: poll
Wed,27 Jun 2012 09:10 PM PDT
Reuters - OTTAWA (Reuters) - Europe's debt crisis and concerns about environmental policy and its impact on projects such as the stalled Keystone XL oil pipeline dampened Canadian business confidence in the second quarter, according to a Deloitte survey of chief financial officers. The mood was nonetheless far more upbeat than in the United States, where unemployment topped the concerns of large corporations, a trend that has lasted several quarters. ... Full Story | Top |
Stockton, California, to file for bankruptcy
Wed,27 Jun 2012 08:27 PM PDT
Reuters -  STOCKTON, California (Reuters) - Stockton, California, is expected to file for bankruptcy before the end of the week, becoming the largest U.S. city to seek protection from its creditors. No one in the city of nearly 300,000 is relishing the prospect, though some see no choice. Stockton, which boomed a decade ago with workers from the San Francisco Bay area seeking affordable housing, is the most recent casualty of the housing bust of the past few years. ...
Full Story | Top |
Santos LNG project cost blows out to $18.5 billion
Wed,27 Jun 2012 08:05 PM PDT
Reuters - PERTH (Reuters) - Santos hiked the cost of its Gladstone LNG project on Thursday by 15 percent to $18.5 billion, saying it needs to find more gas ahead of a planned 2015 start-up, adding to evidence about the challenges facing Australia's coal seam gas industry. Santos is the second of three coal seam gas-to-liquefied natural gas (CSG to LNG) projects to announce a big cost increase, and the news knocked its shares down 4.5 percent, even though a cost hike was widely expected. ... Full Story | Top |
Moody's downgrades 11 Brazilian banks
Wed,27 Jun 2012 07:47 PM PDT
Reuters - (Reuters) - Moody's Investors Service said it had downgraded the ratings of 11 Brazilian financial institutions in line with its review of global banks. Moody's said it had cut the standalone bank financial strength ratings (BFSR) or lowered the standalone baseline credit assessments (BCA) of eight Brazilian financial institutions by one to three notches. The long-term global local currency (GLC) deposit ratings or issuer ratings of 11 financial institutions were downgraded by one to two notches, while the deposit rating of one bank was confirmed. ... Full Story | Top |
Barclays paying $453 million to settle Libor probe
Wed,27 Jun 2012 07:45 PM PDT
Reuters -  WASHINGTON/LONDON (Reuters) - U.K. bank Barclays will pay $453 million to U.S. and British authorities to settle allegations that it manipulated key interest rates, increasing pressure on other banks to cooperate in a probe that could cost the financial industry billions of dollars. The settlement raises fresh questions about the reliability of the London interbank offered rate, or Libor, which underpins some $360 trillion of loans and financial contracts. ...
Full Story | Top |
News Corp board expected to approve split
Wed,27 Jun 2012 07:41 PM PDT
Reuters -  (Reuters) - Rupert Murdoch will oversee one of the most important board meetings of his more than 40-year career on Wednesday afternoon as News Corp directors vote on whether to divide the $60 billion media conglomerate into two separate publicly traded companies. Most of the board members will meet at News Corp's Sixth Avenue headquarters in Midtown Manhattan, but several will have to phone in to the hastily arranged meeting. ...
Full Story | Top |
Ecuador plaintiffs target Chevron's assets in Brazil
Wed,27 Jun 2012 06:20 PM PDT
Reuters -  QUITO (Reuters) - Ecuadorean plaintiffs have filed a second lawsuit outside the Andean country, this time in Brazil, in a bid to enforce an $18 billion court ruling against U.S. oil company Chevron for polluting the Amazon, their lawyers said on Wednesday. The 2011 judgment against Chevron is one of the biggest rulings ever for environmental damage. The legal case has spanned nearly two decades and is being watched closely by multinationals accused of pollution elsewhere in the world. ...
Full Story | Top |
European shares rally on U.S. data, EU summit looms
Wed,27 Jun 2012 05:47 PM PDT
Reuters - LONDON (Reuters) - European shares rebounded on Wednesday after a recent steep sell-off, with upbeat U.S. data boosting demand, though doubts a European summit will provide solutions to the euro debt crisis may cap future gains. Demand, which has deteriorated in the past days on fears over the impact of the crisis on the world economy, improved markedly after U.S. pending home sales matched a two-year high in May, fuelling hopes of a housing market recovery. Building materials groups CRH , Wolseley and Lafarge enjoyed solid gains following the U.S. data, up 4.2 percent, 3.7 percent, and 2. ... Full Story | Top |
Stockton, California's ratings fall ahead of bankruptcy
Wed,27 Jun 2012 05:38 PM PDT
Reuters - NEW YORK (Reuters) - The credit ratings of Stockton, California, were slashed on Wednesday by two Wall Street credit agencies because the city plans to file for bankruptcy soon. Standard & Poor's downgraded Stockton to default from selective default on Wednesday, citing expectations that the city will not pay "substantially" all of its obligations as they come due. Moody's Investors Service cut Stockton's pension obligation debt to Caa3 from B3 and its lease revenue debt to Caa3 from Caa1. ... Full Story | Top |
American Airlines, pilots reach tentative contract
Wed,27 Jun 2012 05:23 PM PDT
Reuters -  (Reuters) - Pilot union leaders at American Airlines reached a tentative agreement with management on Wednesday on a steep cost-cutting contract aimed at heading off a threat by the carrier to abandon the current deal in bankruptcy and impose stricter terms. The Allied Pilots Association board voted 9 to 7 to send the last and best offer to its membership for consideration, the union and the company said. ...
Full Story | Top |
| |
|
No comments:
Post a Comment