News

Japan Noda warns on yen, suggests joint steps difficult

Reuters: Business News - Sat, 09/04/2010 - 06:15
TOKYO (Reuters) - Japanese Finance Minister Yoshihiko Noda said on Saturday Tokyo would take decisive steps to stem the yen's rise when needed, while suggesting that coordinated currency market intervention was a difficult option.


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Anglo Irish Bank to be "decommissioned": minister

Reuters: Business News - Sat, 09/04/2010 - 05:32
DUBLIN (Reuters) - Nationalized Anglo Irish Bank will be "decommissioned," with a decision on its fate expected within a few weeks, a junior government minister was quoted on Saturday as saying.


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G20 members agree economic recovery to continue

Reuters: Business News - Sat, 09/04/2010 - 05:20
GWANGJU, South Korea (Reuters) - G20 delegates agreed on Saturday global economic recovery would endure although the speed of expansion may slow, a South Korean official said.


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Obama says his economic policies halted "bleeding"

Reuters: Business News - Sat, 09/04/2010 - 05:01
WASHINGTON (Reuters) - President Barack Obama, previewing a big push on the U.S. economy next week, on Saturday defended policies that he said "have stopped the bleeding" and put the middle class on the road to recovery.


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China tells state companies to explore Potash bid

Reuters: Business News - Fri, 09/03/2010 - 22:09
TORONTO/HONG KONG (Reuters) - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said.


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Madoff investors win $12.74 mln in Merkin case

Reuters: Business News - Fri, 09/03/2010 - 20:14
NEW YORK (Reuters) - Investors in Gabriel Capital LP, a so-called feeder fund that funneled money to imprisoned swindler Bernard Madoff, were awarded $12.74 million by a panel of three arbitrators, court records show.


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Stocks rally as jobs data spurs optimism

Reuters: Business News - Fri, 09/03/2010 - 19:07
NEW YORK (Reuters) - Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.


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Taxpayers likely to face initial loss on GM IPO: sources

Reuters: Business News - Fri, 09/03/2010 - 18:33
NEW YORK/DETROIT (Reuters) - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.


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Payrolls data offer ray of hope for recovery

Reuters: Business News - Fri, 09/03/2010 - 18:24
WASHINGTON (Reuters) - U.S. employment fell for a third straight month in August, but the drop was far less than expected and private hiring was a positive surprise, relieving concerns about a stalling economic recovery.


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Ex-Goldman programmer wins partial dismissal

Reuters: Business News - Fri, 09/03/2010 - 17:49
NEW YORK (Reuters) - A federal judge on Friday dismissed part of a criminal case accusing a former Goldman Sachs Group Inc computer programer of stealing proprietary computer code from the bank's lucrative high-frequency trading platform.


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Time Warner Cable, Disney yet to reach deal

Reuters: Business News - Thu, 09/02/2010 - 06:07
NEW YORK (Reuters) - Time Warner Cable and Walt Disney Co ensured millions of U.S. cable customers can still watch some of their favorite TV programs while the companies kept working on a new programing deal after a midnight deadline passed.


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Oil steady near $74 as investors eye U.S. jobs reports

Reuters: Business News - Thu, 09/02/2010 - 04:30
LONDON (Reuters) - Oil steadied near $74 a barrel on Thursday, weighed by record high inventories in top consumer the United States and investor caution ahead of U.S. employment reports.


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Futures point to Wall Street edging lower

Reuters: Business News - Thu, 09/02/2010 - 04:06
LONDON (Reuters) - Stock index futures pointed to a mostly lower open for U.S. shares on Thursday, giving back a little of the strong gains from the previous session, when they were boosted by strong manufacturing data from China and the United States.


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Lehman says two units need help to avoid failing

Reuters: Business News - Thu, 09/02/2010 - 03:29
BANGALORE (Reuters) - Two struggling units of Lehman Brothers Holdings Inc , the bankrupt U.S. investment bank, need hundreds of millions of dollars in capital to stave off failure that could cost Lehman billions, court documents show.


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Costco August same-store sales up 7 percent

Reuters: Business News - Thu, 09/02/2010 - 02:54
BANGALORE (Reuters) - Costco Wholesale Corp , the largest U.S. warehouse club operator, reported a 7 percent rise in August sales at stores open at least a year, aided by surge in gasoline prices and foreign currency gains.


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ECB to extend liquidity lifeline amid uneven recovery

Reuters: Business News - Thu, 09/02/2010 - 02:28
FRANKFURT (Reuters) - The European Central Bank is expected to extend its liquidity safety-net on Thursday, delaying its exit from crisis support as policymakers confront a lopsided euro zone recovery and vulnerable banks in perimeter countries.


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Consumer bankruptcies fell 8 percent in August

Reuters: Business News - Thu, 09/02/2010 - 00:11
BANGALORE (Reuters) - Bankruptcies filings by consumers fell 8 percent in August but still remained on track to top 1.6 million filings in 2010, according to a report by the American Bankruptcy Institute (ABI).


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SEC probes cancelled trades in flash crash: report

Reuters: Business News - Wed, 09/01/2010 - 23:46
(Reuters) - U.S. securities regulator is looking into a Wall Street trading practice in which unusually large numbers of orders to buy or sell stocks are placed in a fraction of a second, only to be canceled almost immediately, the Wall Street Journal reported on Thursday.


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China digs for ways to stymie BHP's Potash Corp bid

Reuters: Business News - Wed, 09/01/2010 - 23:19
MELBOURNE/HONG KONG (Reuters) - China is stepping up attempts to hamper BHP Billiton's $39 billion hostile offer for Potash Corp, amid worries about future supplies of fertilizer it needs to rapidly boost food production.


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GM roadshow to begin after elections: sources

Reuters: Business News - Wed, 09/01/2010 - 21:16
NEW YORK (Reuters) - Automaker General Motors Co plans to begin courting investors for its initial public offering immediately after the November 2 U.S. midterm congressional elections, two sources familiar with the plans said on Wednesday.


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