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 Latest Business and Finance News
Dollar edges higher in Asia [Geo TV]
TOKYO: The dollar edged up against the euro and the yen in Asian trade Thursday, building on the 11- ...Detail
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Ex-Aeropostale exec gets eight years prison over kickbacks  [Reuters] 20 Aug, 2014
NEW YORK (Reuters) - A former merchandising executive at teen apparel retailer Aeropostale Inc was sentenced to eight years in prison on Wednesday after being convicted of defrauding the company and taking more than $25 million in ...
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Hewlett-Packard posts surprise revenue gain after PC sales jump  [Reuters] 20 Aug, 2014
SAN FRANCISCO (Reuters) - Hewlett-Packard Co posted a surprise increase in quarterly revenue after sales from its personal computer division climbed 12 percent, but a flat to declining performance from its other units underscored ...
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Ex-Aeropostale executive gets 8 years prison over kickbacks  [Reuters] 20 Aug, 2014
NEW YORK (Reuters) - A former merchandising executive at teen apparel retailer Aeropostale Inc on Wednesday was sentenced to eight years in prison after being convicted of defrauding the company and taking more than $25 million in ...
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About 25 percent of Detroit's water and sewer bonds tendered so far  [Reuters] 20 Aug, 2014
(Reuters) - Just over a quarter of Detroit's $5.2 billion of outstanding water and sewer revenue bonds were returned to the city for repurchase on Wednesday, 24 hours before the tender offer was due to expire.
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Ex-Aeropostale executive gets eight years prison over kickbacks  [Reuters] 20 Aug, 2014
NEW YORK (Reuters) - A former merchandising executive at teen apparel retailer Aeropostale Inc on Wednesday was sentenced to eight years in prison after being convicted of defrauding the company and taking more than $25 million in ...
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Policy delay has Japanese carmakers reviewing Philippines expansion plans  [Reuters] 20 Aug, 2014
MANILA (Reuters) - Top Japanese automakers in the Philippines are threatening to shift production to cheaper Southeast Asian countries as the government drags its feet on a plan to rebuild its shrinking car manufacturing industry. ...
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Dow, S&P 500 rise after Fed minutes reassure on rates  [Reuters] 20 Aug, 2014
NEW YORK (Reuters) - U.S. stocks ended mostly higher on Wednesday, with the S&P 500 just missing a record close, after minutes from the Federal Reserve's July meeting gave investors reason to believe that the central bank ...
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U.S. risk council takes next step in MetLife systemic review  [Reuters] 20 Aug, 2014
WASHINGTON (Reuters) - The top U.S. financial risk council has gathered enough evidence to decide whether insurer MetLife should be designated as a systemically important firm, a source familiar with the situation said.
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Hewlett-Packard posts surprise revenue gain after PC sales spike  [Reuters] 20 Aug, 2014
SAN FRANCISCO (Reuters) - Hewlett-Packard Co posted a surprise increase in quarterly revenue after sales from its personal computer division climbed 12 percent, but a flat to declining performance from its other units underscored ...
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Icahn reveals stake in Hertz, plans to push management  [Reuters] 20 Aug, 2014
BOSTON (Reuters) - Billionaire investor Carl Icahn said on Wednesday that he owns an 8.5 percent stake in Hertz Global Holdings Inc and plans to pressure the rental car company's management over accounting issues and operatio ...
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Hewlett-Packard posts surprise revenue gain  [Reuters] 20 Aug, 2014
SAN FRANCISCO (Reuters) - Hewlett-Packard Co posted a surprise increase in quarterly revenue after revenue from its personal computer division climbed 12 percent, but flat to declining revenue in its other units underscored the co ...
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Fed debates merits of earlier rate hike given U.S. jobs gains  [Reuters] 20 Aug, 2014
WASHINGTON (Reuters) - The U.S. Federal Reserve hinted on Wednesday that a surprisingly strong jobs market recovery could lead it to raise interest rates earlier than it had been anticipating.
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Exclusive: Ford plans new hybrid series to compete with Toyota Prius - sources  [Reuters] 20 Aug, 2014
DETROIT (Reuters) - Ford Motor Co plans to introduce a new hybrid gasoline-electric car in late 2018 to compete against the best-selling Toyota Prius, two sources with knowledge of the company's plans told Reuters on Wednesda ...
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Hewlett-Packard manages surprise quarterly revenue gain  [Reuters] 20 Aug, 2014
SAN FRANCISCO (Reuters) - Hewlett-Packard Co posted a surprise increase in quarterly revenue, as it works through an internal overhaul aimed at cutting costs and re-orienting the sprawling computing company.
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Dow, S&P 500 end higher after Fed minutes  [Reuters] 20 Aug, 2014
NEW YORK (Reuters) - The Dow and the S&P 500 rose for a third straight session on Wednesday, with the S&P ending a hair under a record reached in late July as minutes from the Federal Reserve's July meeting showed the ...
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Car rental firm Hertz is latest victim of auto recalls  [Reuters] 20 Aug, 2014
(Reuters) - While an improving U.S. economy has helped rev up demand for car rentals, the rental companies have found themselves short of vehicles due to the slew of recalls by car manufacturers this year.
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BofA in $16.5 billion deal with U.S. over mortgage bonds: source  [Reuters] 20 Aug, 2014
WASHINGTON (Reuters) - Bank of America Corp is expected to pay more than $16.5 billion to end investigations into mortgage securities that the bank and its units sold in the run-up to the financial crisis, in a deal that could be ...
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U.S. job market gains not yet enough to push forward rate hike -Fed  [Reuters] 20 Aug, 2014
WASHINGTON (Reuters) - The Federal Reserve has been surprised by how quickly the U.S. labor market is healing but doesn't want to bring forward a planned rate hike until the recovery looks more convincing, according to minute ...
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FSOC takes next step in MetLife systemic review  [Reuters] 20 Aug, 2014
WASHINGTON (Reuters) - The U.S. Financial Stability Oversight Council has closed the evidentiary record to determine whether insurance firm Metlife Inc is systemically important, a source familiar with the situation told Reuters. ...
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Berkshire Hathaway agrees to settle U.S. charges on stock deal  [Reuters] 20 Aug, 2014
(Reuters) - Warren Buffett's Berkshire Hathaway Inc agreed to pay an $896,000 fine to settle U.S. government accusations that it violated antitrust rules by failing to report a transaction that boosted its stake in building p ...
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Fed notes labor market progress, but not convinced yet: minutes  [Reuters] 20 Aug, 2014
WASHINGTON (Reuters) - The Federal Reserve has been surprised by how quickly the U.S. labor market is healing but doesn't want to bring forward a planned rate hike until the recovery looks more convincing, according to minute ...
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Russian watchdog shuts four McDonald's restaurants in Moscow  [Reuters] 20 Aug, 2014
MOSCOW (Reuters) - Russia ordered the temporary closure of four McDonald's restaurants in Moscow on Wednesday, a decision it said was over sanitary violations but which comes against a backdrop of worsening U.S.-Russian ties ...
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BP hires head of U.S. shale unit before spin-off  [Reuters] 20 Aug, 2014
LONDON (Reuters) - Oil major BP has appointed a chief executive to look after its U.S. onshore oil and gas assets, months ahead of its plan to spin off the business to boost the profitability of its shale gas portfolio in the coun ...
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Lowe's expects pickup in home improvement spending  [Reuters] 20 Aug, 2014
(Reuters) - Lowe's Cos Inc , the No. 2 U.S. home improvement products retailer, echoed larger rival Home Depot Inc in anticipating higher spending on renovations in the second half of the year as the U.S. housing market showe ...
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Argentina bonds, peso reel on country's debt swap plan  [Reuters] 20 Aug, 2014
BUENOS AIRES (Reuters) - Argentina's new plan to skirt U.S. courts and resume payment on defaulted bonds aims to protect creditors who participated in two debt restructurings, the economy minister said on Wednesday, adding it ...
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Wall St. inches up with Fed minutes on tap; retailers resilient  [Reuters] 20 Aug, 2014
NEW YORK (Reuters) - U.S. stocks inched higher Wednesday after two days of gains, ahead of the release of minutes from the most recent Federal Reserve meeting, as investors brushed off bleak earnings forecasts from some retailers ...
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Staples warns of weak sales on low demand for core office supplies  [Reuters] 20 Aug, 2014
(Reuters) - Staples Inc warned that its sales could fall in the current quarter as it sells fewer computers and core office supplies such as ink, toner and paper in North America amid stiff competition from online retailers and bi ...
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Target cuts forecast as it woos back customers with more discounts  [Reuters] 20 Aug, 2014
(Reuters) - Target Corp cut its full-year earnings forecast as it offers more discounts to attract cash-strapped customers and win over shoppers unnerved by a massive holiday-season data breach.
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Goldman Sachs to raise junior banker pay by 20 percent : NY Post  [Reuters] 20 Aug, 2014
NEW YORK (Reuters) - Goldman Sachs Group Inc plans to raise pay for junior bankers by 20 percent next year, the New York Post reported on Wednesday.
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McDonald's says studying Russian claims on sanitary breaches  [Reuters] 20 Aug, 2014
MOSCOW (Reuters) - McDonald's said on Wednesday it is studying complaints from Russia's state food safety watchdog of sanitary breaches at its Moscow's restaurants, operations at some of which were suspended after c ...
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