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 Latest Business and Finance News
IBM reports lowest quarterly revenue in 5 years as hardware sales fall [Reuters]
(Reuters) - IBM Corp reported its lowest quarterly revenue in five years as the company struggles wi ...Detail
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Lululemon's status as yogawear's top dog at risk  [Reuters] 16 Apr, 2014
NEW YORK (Reuters) - Still hurting from last year's see-through yoga pants debacle, Lululemon Athletica Inc is about to face a new headache: stepped up competition from rival yoga retailers, department stores and hot new bran ...
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Google first-quarter Internet revenue grows 19 percent  [Reuters] 16 Apr, 2014
SAN FRANCISCO (Reuters) - Google Inc's Internet business revenue grew 19 percent in the first quarter, as its expanding volume of online ads offset declining prices.
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American Express profit rises 12 percent  [Reuters] 16 Apr, 2014
(Reuters) - American Express Co reported a 12 percent rise in quarterly profit as its credit-card customers spent more in a recovering U.S. economy.
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Wall Street ends higher after Yellen's comments  [Reuters] 16 Apr, 2014
NEW YORK (Reuters) - U.S. stocks rose 1 percent on Wednesday, advancing for a third straight session as Federal Reserve Chair Janet Yellen reaffirmed the central bank's commitment to keeping interest rates low. Yahoo's s ...
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AT&T threatens to sit out U.S. spectrum auction over rules  [Reuters] 16 Apr, 2014
WASHINGTON (Reuters) - AT&T Inc has threatened to sit out a major U.S. auction of airwaves if regulators reserve some of the spectrum for smaller rivals, the No. 2 wireless company said in a filing released on Wednesday.
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Former Bridgestone executive to plead guilty to price fixing: U.S. Justice Dept  [Reuters] 16 Apr, 2014
WASHINGTON (Reuters) - A former sales manager for Bridgestone Corp has agreed to plead guilty and serve 18 months in prison for participating in a conspiracy to fix the prices of rubber anti-vibration devices used in automotive su ...
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Bank of America's mortgage crisis costs become a recurring problem  [Reuters] 16 Apr, 2014
(Reuters) - Bank of America Corp's mortgage pain is lasting longer than expected, leading some investors to wonder if the massive expenses being incurred have become a recurring cost of doing business instead of being dismiss ...
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AT&T may sit out auction if FCC spectrum plan is adopted  [Reuters] 16 Apr, 2014
WASHINGTON (Reuters) - AT&T Inc might sit out a major U.S. auction of airwaves if regulators adopt rules that reserve some of the spectrum for smaller rivals, the No. 2 wireless company said in a filing released on Wednesday. ...
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Yellen says full U.S. employment coming into view, slowly  [Reuters] 16 Apr, 2014
NEW YORK (Reuters) - Federal Reserve Chair Janet Yellen said on Wednesday the U.S. economy appeared to be slowly moving toward full employment, but that it would need help from the central bank for some time to come.
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Wall St. up on Chinese and U.S. data, Yellen comments  [Reuters] 16 Apr, 2014
NEW YORK (Reuters) - U.S. stocks rose for a third straight session on Wednesday after data showed China's economic growth exceeded expectations and U.S. industrial production rose for a second straight month.
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Exclusive: Bank of America in talks with U.S. on probe of Merrill - sources  [Reuters] 16 Apr, 2014
WASHINGTON (Reuters) - Bank of America Corp has held talks with the U.S. Justice Department to resolve a civil fraud probe into Merrill Lynch's sale of flawed mortgage securities ahead of the financial crisis, people familiar ...
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BlackBerry's meltdown sparks start-up boom in Canada's Silicon Valley  [Reuters] 16 Apr, 2014
(Reuters) - The troubles at BlackBerry Ltd, which fired more than half its staff and lost more than 90 percent of its market value as consumers shunned its smart phones, might have spelled disaster for the company's hometown ...
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Mexican mobile phone operator sues IBM for $2.5 billion  [Reuters] 16 Apr, 2014
NEW YORK (Reuters) - Mexican mobile phone operator Iusacell SA de CV sued IBM Corp on Wednesday, accusing the U.S. technology giant of making fraudulent representations that caused it to lose $2.5 billion in profits.
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Yellen stresses employment, inflation in Fed's coming decision  [Reuters] 16 Apr, 2014
NEW YORK (Reuters) - The Federal Reserve's still distant decision to raise interest rates will depend on how far the U.S. economy remains from the central bank's employment and inflation goals, and how long it will likel ...
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Former Madoff aides seek to have convictions tossed  [Reuters] 16 Apr, 2014
NEW YORK (Reuters) - Five former Bernard Madoff aides have asked a federal judge to throw out their convictions, three weeks after a jury found them guilty of fraud and conspiracy for helping Madoff conceal his multibillion-dollar ...
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Yellen stresses employment, inflation in Fed's coming tightening decision  [Reuters] 16 Apr, 2014
NEW YORK (Reuters) - The Federal Reserve's still distant decision to raise interest rates will depend on how far the U.S. economy remains from the central bank's employment and inflation goals, and how long it will likel ...
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Yellen stresses employment, inflation in Fed's rate-rise decision  [Reuters] 16 Apr, 2014
NEW YORK (Reuters) - The length of time the Federal Reserve keeps its key interest rate near zero will depend on how far the U.S. economy remains from the central bank's employment and inflation goals, and how long it will li ...
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IBM hit with $2.5 billion lawsuit by Mexican mobile phone operator  [Reuters] 16 Apr, 2014
NEW YORK (Reuters) - Mexican mobile phone operator Iusacell SA de CV sued IBM Corp on Wednesday, accusing the U.S. technology giant of making fraudulent representations that caused it to lose $2.5 billion in profits.
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After years of downsizing, refining still matters for majors  [Reuters] 16 Apr, 2014
LONDON (Reuters) - When U.S. firm ConocoPhillips spun off its refining assets in 2011 to focus on more profitable oil production, it seemed only a matter of time before one of the oil majors followed suit.
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Exclusive - Bahrain's Ahli United Bank considers sale or merger: sources  [Reuters] 16 Apr, 2014
LONDON (Reuters) - Ahli United Bank (AUB) , Bahrain's largest lender, is evaluating a sale or a merger with a rival bank in a potential $5 billion deal, several bankers familiar with the situation said.
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BofA reports first quarterly loss since 2011 on lofty legal bill  [Reuters] 16 Apr, 2014
(Reuters) - Bank of America Corp reported an unexpected first-quarter loss on Wednesday after it took a $6 billion charge to cover litigation expenses, a figure that far exceeded the legal settlements the No. 2 U.S. bank has annou ...
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BlackRock granted direct access to China's financial markets  [Reuters] 16 Apr, 2014
LONDON (Reuters) - BlackRock , the world's biggest asset manager, said it had been awarded a license to invest directly in China's mainland capital markets, giving investors some access to its stock and bond markets.
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Sodastream in talks to sell up to 16 percent stake: report  [Reuters] 16 Apr, 2014
(Reuters) - At-home soda maker Sodastream International is in early talks to sell a stake of up to 16 percent to a strategic entity, Israeli financial news daily Calcalist reported on its website.
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Wall Street gains after Chinese data, Yahoo up on Alibaba  [Reuters] 16 Apr, 2014
NEW YORK (Reuters) - U.S. stocks rose for a third straight session on Wednesday after China's economic growth exceeded expectations and Yahoo shares rallied on the strength of revenue growth in Chinese e-commerce giant Alibab ...
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Mt. Gox set to liquidate as court denies rehabilitation  [Reuters] 16 Apr, 2014
(Reuters) - Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business, the court-appointed administrator said on Wednesday. ...
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U.S. industry shows some vigor, but housing soft  [Reuters] 16 Apr, 2014
WASHINGTON (Reuters) - U.S. industrial production rose at a faster-than-expected clip in March, the latest sign the economy was gaining momentum.
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Role of technology, imperative to enhance education in country: Ahsan Iqbal  [Business Recorder] 16 Apr, 2014
ISLAMABAD: Federal Minister for Planning, Development and Reform Ahsan Iqbal Wednesday said the role of technology and innovation in current scenario was imperative for the way of delivering education, not only to children but als ...
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National Curriculum Council to promote national integrity: Baligh-ur-Rehman  [Business Recorder] 16 Apr, 2014
ISLAMABAD: National Curriculum Council would be set up soon to devise minimum standards for all the public and private educational institutions of the country, promoting national integrity and religious values.This was conveyed by ...
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Deutsche Bank denies report its CEOs' jobs are at risk  [Reuters] 16 Apr, 2014
FRANKFURT (Reuters) - Deutsche Bank denied a media report that said its co-Chief Executives Anshu Jain and Juergen Fitschen could be replaced, possibly with former UBS finance chief John Cryan.
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China Q1 GDP at 18-month low, to cut reserve ratio for small banks  [Reuters] 16 Apr, 2014
BEIJING (Reuters) - China's economy expanded 7.4 percent between January and March, its slowest pace in 18 months, prompting authorities to act for the second time in as many weeks to shore up growth.
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