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Bernanke Faces Senate Lawmakers
Bernanke faced Senate lawmakers Tuesday, again offering a message for Washington to get its fiscal house in order.
Tue, 07 Feb 2012 12:52:07 EST |
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U.S. Stocks Creep Higher
U.S. stocks were higher amid signs of progress on Greek debt talks.
Tue, 07 Feb 2012 13:19:57 EST |
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Merger to Create Commodities Giant
Xstrata plans to merge with Glencore to create a sector-straddling giant with a value of about $90 billion and the scale to produce and trade natural resources in five continents.
Tue, 07 Feb 2012 13:18:19 EST |
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Apple Is Challenged in China Over iPad Name
Proview Technology (Shenzhen) has filed for a temporary restraining order in a Shanghai court to stop Apple from using the iPad name in mainland China.
Tue, 07 Feb 2012 11:39:15 EST |
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Coke's Profit Slides
Coca-Cola said its earnings fell 71% but sales and volume grew world-wide, continuing rapid expansion in emerging markets like China and India, while also getting a boost from higher prices.
Tue, 07 Feb 2012 13:25:04 EST |
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Glaxo Misses Earnings Forecasts
GlaxoSmithKline said it expects to return to sales and margin growth this year despite missing earnings and sales forecasts for 2011's fourth quarter.
Tue, 07 Feb 2012 13:29:25 EST |
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Wal-Mart to Expand in Canada
Wal-Mart will spend about $753 million to expand its presence in Canada ahead of the opening of rival Target's first stores in the country early next year.
Tue, 07 Feb 2012 12:03:01 EST |
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Sands China, Cirque du Soleil End Contract
The Macau unit of Las Vegas Sands and Cirque du Soleil said they are putting an early end to a 10-year contract, showing the difficulty companies have faced trying to transform the gambling haven into a tourist destination like Las Vegas.
Tue, 07 Feb 2012 11:56:11 EST |
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China Raises Fuel Prices
China on Tuesday raised its ceilings on gasoline and diesel prices in response to rising prices in international markets.
Tue, 07 Feb 2012 10:28:01 EST |
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McClatchy Profit Rises
McClatchy's fourth-quarter earnings nearly tripled as cost cutting at the newspaper publishing company helped to mitigate declining advertising and circulation revenue.
Tue, 07 Feb 2012 10:25:32 EST |
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For Sale: AIG's Subprime Bonds
Five Wall Street banks have been invited by the New York Fed to bid for a multibillion-dollar bundle of risky mortgage bonds it owns as a result of its 2008 rescue of AIG.
Tue, 07 Feb 2012 10:58:47 EST |
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Rate Probe Keys On Traders
Investigators in a world-wide probe of how crucial interest rates are set are focusing on a small number of traders suspected of trying to influence other bank employees to manipulate the rates.
Mon, 06 Feb 2012 23:45:34 EST |
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UBS Culls Bonuses as Profit Falls
UBS said it will slash investment-bank bonuses by 60% this year, while the head of the unit will forgo any bonus at all following a trading scandal last September that cost the bank $2.3 billion.
Tue, 07 Feb 2012 12:58:54 EST |
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Toyota Talks Up Despite Down Quarter
Toyota lifted its full-year net income forecast, but expects its earnings to come in at nearly half the level of last year, and below the profitability projections of its smaller Japanese rivals.
Tue, 07 Feb 2012 13:12:25 EST |
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BP Raises Dividend on Profit Increase
BP raised its dividend for the first time since it resumed payouts in the wake of the Deepwater Horizon tragedy, as the U.K. energy giant reported earnings that beat expectations.
Tue, 07 Feb 2012 13:29:11 EST |
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Investors Await Nomura Rating Decision
Moody's was expected to announce this week whether it will cut Nomura's debt rating as the Japanese brokerage struggles to bolster its global business.
Tue, 07 Feb 2012 09:31:48 EST |
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Swatch Triggers Luxury Slide
Swatch triggered a slide in luxury stocks across Europe as its upbeat outlook was overshadowed by a dividend and operating profit that fell short of expectations.
Tue, 07 Feb 2012 13:07:14 EST |
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SNB Stays Course on Franc
The Swiss National Bank will enforce its minimum rate of 1.2 Swiss francs per euro with "utmost determination" and is ready to buy unlimited amounts of foreign currency to do so, interim president Thomas Jordan said.
Tue, 07 Feb 2012 06:50:56 EST |
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Lagardère Books Write-Down
Lagardère warned of a substantial impairment charge on its sports division, the latest setback in the media-to-defense conglomerate's much-vaunted plan to dominate the global sports-marketing business.
Tue, 07 Feb 2012 09:09:08 EST |
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Arcelor Sees Tentative Recovery
ArcelorMittal said it expects steel shipments to remain flat in the first half but that mining production will increase 10% as the company expands in the natural-resources sector.
Tue, 07 Feb 2012 13:24:31 EST |
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Pennsylvania Plan Sees Slimmer Harrisburg
A state-appointed financial custodian released a recovery plan for Harrisburg on Monday, moving Pennsylvania's capital closer to resolving its financial crisis.
Mon, 06 Feb 2012 22:24:48 EST |
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Challenges for MF Trustee
A bankruptcy trustee investigating MF Global said he faces huge challenges getting back an estimated $1.2 billion in customer funds drained from the securities firm before it collapsed.
Tue, 07 Feb 2012 10:59:21 EST |
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Oracle Seeks New Trial in SAP Case
Oracle rejected a $272 million award in its intellectual-property theft case against SAP, an expected move that sets the stage for a new trial between the bitter software rivals.
Tue, 07 Feb 2012 01:51:29 EST |
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Asia Markets Slip
Mainland Chinese shares tumbled, leading most major Asian markets lower, as investors expressed disappointment at monetary policy in the world's No. 2 economy; the Shanghai Composite slid 1.7%.
Tue, 07 Feb 2012 09:19:55 EST |
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Japan Confirms 'Stealth' Yen Intervention
Japan continued to conduct "stealth" interventions in the currency market after its highly publicized yen-selling campaign on Oct. 31, data released by the Finance Ministry confirmed.
Tue, 07 Feb 2012 05:14:30 EST |
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IMF Urges Beijing to Ready Bold Moves
The IMF urged China to run a federal deficit of 2% of GDP rather than looking to reduce the country's deficit as planned, given the uncertainty in the global economy.
Mon, 06 Feb 2012 22:46:58 EST |
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Wal-Mart Names China Chief
Wal-Mart Stores tapped Greg Foran as president and CEO of Wal-Mart China as the retailer looks to regain its footing after several missteps in one of its most important growth markets.
Tue, 07 Feb 2012 10:36:08 EST |
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Brazil Privatizes Airports
Brazil raised $14 billion in a privatization of three major airports, a bid to speed modernization of overcrowded hubs before the country hosts soccer's 2014 World Cup and the 2016 Olympic Games.
Mon, 06 Feb 2012 22:25:41 EST |
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Hasbro's Net Edges Lower
Hasbro's earnings slipped as the toy maker booked double-digit sales declines in the girls and games categories.
Mon, 06 Feb 2012 18:36:27 EST |
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Calstrs to Place $500 Million Bet
The California State Teachers' Retirement System is making a $500 million bet with Australia's Industry Funds Management Fund that it can make money from utilities, roads, ports and pipelines around the globe.
Mon, 06 Feb 2012 20:45:00 EST |
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U.K. Retail Sales Drop
Retail sales in U.K. stores that have been open for at least a year fell in January, and at the second-fastest rate for the first month of the year since records began in 1995, according to the British Retail Consortium's monthly survey.
Tue, 07 Feb 2012 05:08:53 EST |
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China Accepts First HK Shares-Linked ETF
China's securities regulator has accepted an application to launch the country's first exchange-traded fund linked to Hong Kong-listed shares, offering Chinese investors fresh access to securities overseas.
Mon, 06 Feb 2012 22:26:36 EST |
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Caesars Shows Some Tarnish as It Returns to Markets
Caesars aims to sell around 1.4% of itself in an offering that values the casino giant at around $23.7 billion—compared with around $28 billion when it was taken private four years ago.
Tue, 07 Feb 2012 13:29:30 EST |
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China Carriers Won't Pay Fees For Emissions
China said it prohibited its airlines from paying for carbon emissions under the European Union's system to limit greenhouse emissions, in an escalation of Beijing's opposition to the plan.
Mon, 06 Feb 2012 19:45:33 EST |
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