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 Latest Business and Finance News
After standoff, Vale and China's Cosco both claim shipping victory [Reuters]
RIO DE JANEIRO/SHANGHAI (Reuters) - In the end, the answer to Brazilian miner Vale's Chinese sh ...Detail
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Alibaba raises price of share sale  [BBC News] 15 Sep, 2014
Chinese online giant Alibaba increases the price range of its initial public offering, meaning it could raise more than $25bn when it lists in New York.
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Senior BNP Paribas energy traders quit; bank denies downsizing  [Reuters] 15 Sep, 2014
(Reuters) - Two senior BNP Paribas energy traders in New York have left, but the Paris-based bank said on Monday it was not downsizing its U.S. commodity and energy businesses.
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Exclusive: U.S. safety chief raps GM's 'flawed' culture on recalls  [Reuters] 15 Sep, 2014
(Reuters) - The top U.S. auto safety regulator harshly criticized General Motors Co for not promptly reporting and recalling cars now linked to at least 19 deaths and said he has been meeting with top global automakers to develop ...
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Tesla prevails in top Massachusetts court over direct sales  [Reuters] 15 Sep, 2014
(Reuters) - Massachusetts' highest court on Monday threw out a lawsuit seeking to block Tesla Motors Inc from selling its luxury electric cars directly to consumers in the state, enabling it to bypass traditional dealerships. ...
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Alibaba boosts IPO as demand strengthens  [Reuters] 15 Sep, 2014
HONG KONG (Reuters) - Alibaba Group Holding Ltd raised the price range on its initial public offering to $66 to $68 a share, responding to strong investor demand for what could be the world's largest-ever IPO.
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Exclusive: Toyota pauses on Mexico expansion to review growth strategy  [Reuters] 15 Sep, 2014
BEIJING/NAGOYA Japan (Reuters) - Toyota Motor Corp is reconsidering a move to open a new compact car assembly plant in Mexico after company President Akio Toyoda told planners searching for a site to pause and review its rationale ...
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Exclusive: Colombia may pre-finance 2015 borrowing needs - finance minister  [Reuters] 15 Sep, 2014
NEW YORK (Reuters) - Colombian Finance Minister Mauricio Cardenas said on Monday the government could start early to pre-finance some of its estimated $3 billion in 2015 borrowing needs by tapping international capital markets bef ...
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Alibaba will raise IPO range to $66 to $68: Wall Street Journal  [Reuters] 15 Sep, 2014
SAN FRANCISCO (Reuters) - Alibaba Group Holding Ltd [IPO-BABA.N] is prepared to raise the price range on its initial public offering to $66 to $68 a share, from $60 to $66 previously, The Wall Street Journal reported on Monday, ci ...
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Nasdaq slumps to worst day since July; S&P 500 dips  [Reuters] 15 Sep, 2014
NEW YORK (Reuters) - U.S. stocks closed mixed on Monday as the tech sector dragged the Nasdaq to its worst day since July and kept the S&P 500 near the unchanged mark as investors cleared the decks for Alibaba's debut pla ...
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Heineken's snub to SAB revives beer deal speculation  [Reuters] 15 Sep, 2014
LONDON/BRUSSELS (Reuters) - SABMiller's rejected bid for smaller brewer Heineken has revived talk about deals that could reshape the global beer industry in coming months.
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S&P ends nearly flat, Nasdaq down 1 percent  [Reuters] 15 Sep, 2014
NEW YORK (Reuters) - U.S. stocks were mixed on Monday as the tech sector dragged the Nasdaq to its biggest drop since July and kept the S&P 500 near the unchanged mark as investors cleared the decks for Alibaba's debut pl ...
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Auto part makers getting no lift from TRW deal  [Reuters] 15 Sep, 2014
NEW YORK (Reuters) - Auto part makers were trading lower on Monday, as the deal to acquire TRW Automotive Holdings Corp by German car parts maker ZF Friedrichshafen [ZFF.UL] failed to ignite any excitement in the sector.
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Dow edges up but tech weighs on S&P, Nasdaq  [Reuters] 15 Sep, 2014
NEW YORK (Reuters) - U.S. stocks were mixed on Monday with the tech sector weighing on the Nasdaq and S&P 500 as investors make space for Alibaba's planned debut later this week.
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GM to offer compensation for 19 deaths related to ignition switch  [Reuters] 15 Sep, 2014
WASHINGTON (Reuters) - General Motors Co will pay compensation for 19 deaths linked to a faulty ignition switch, according to the lawyer overseeing the compensation process, more than the 13 deaths the automaker had previously adm ...
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Nasdaq loses ground as tech sector weighs  [Reuters] 15 Sep, 2014
NEW YORK (Reuters) - The Dow Industrials were edging higher while both the S&P 500 and Nasdaq were losing ground, as investors exercised caution ahead of the U.S. Federal Reserve's policy statement and prepared for Alibab ...
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Apple iPhone 6 pre-orders hit record 4 million on first day  [Reuters] 15 Sep, 2014
(Reuters) - Apple Inc said many customers will need to wait until next month for their new iPhones after a record 4 million first-day pre-orders were logged, double the number for the iPhone 5 two years ago.
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Smaller names lose ground on disappointing outlooks  [Reuters] 15 Sep, 2014
NEW YORK (Reuters) - Smaller-cap shares were being pressured on Monday, pulled lower by disappointing earnings outlooks from midcaps MDU Resources and Terex Corp , while smallcap GTAT continued its recent move lower.
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Portugal looks for speedy sale after Novo Banco reshuffle  [Reuters] 15 Sep, 2014
LISBON (Reuters) - Portuguese Prime Minister Pedro Passos Coelho stood by government policy toward the remains of failed Banco Espirito Santo (BES) on Monday, saying a quick sale of its successor Novo Banco was necessary to avoid ...
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Wall St. little changed but tech weighs on Nasdaq  [Reuters] 15 Sep, 2014
NEW YORK (Reuters) - U.S. stocks were mixed on Monday with the tech sector weighing on the Nasdaq and S&P 500 as investors make space for Alibaba's planned debut later this week.
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Microsoft to buy Minecraft maker Mojang for $2.5 billion  [Reuters] 15 Sep, 2014
STOCKHOLM (Reuters) - Microsoft Corp said on Monday it has agreed to acquire Stockholm-based games developer Mojang and the company's wildly popular Minecraft video game franchise for $2.5 billion.
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Wall St. falls, weighed by tech shares  [Reuters] 15 Sep, 2014
NEW YORK (Reuters) - U.S. stocks were falling on Monday, dragged down by the tech sector as investors make space in their portfolios for Alibaba's planned debut later this week and biotech shares weighed further on the Nasdaq ...
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Autos weigh on U.S. factory output; outlook still upbeat  [Reuters] 15 Sep, 2014
WASHINGTON (Reuters) - U.S. manufacturing output fell for the first time in seven months in August, but the underlying trend remained consistent with steadily rising factory activity.
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Wall St. flat, but energy shares lower  [Reuters] 15 Sep, 2014
NEW YORK (Reuters) - U.S. stocks opened little changed on Monday as traders gauged the effect of tumbling crude oil prices, with the energy sector falling but bullish outlooks for retail and other consumer stocks.
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Santander's new head Ana Botin reaffirms bank's strategy, dividend  [Reuters] 15 Sep, 2014
SANTANDER Spain (Reuters) - Ana Botin, the new chairwoman of Santander , told shareholders on Monday she would defend the legacy of her father at the helm of the euro zone's biggest bank and her priorities include maintaining ...
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Microsoft buys Minecraft for $2.5bn  [BBC News] 15 Sep, 2014
Markus Persson Mojang, the Swedish firm behind the popular video game Minecraft, is bought by Microsoft for $2.5bn (1.5bn).
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Qadri master of U-turns like PTI chief: Pervaiz Rashid  [Business Recorder] 15 Sep, 2014
ISLAMABAD: Minister for Information, Broadcasting and National Heritage Senator Pervaiz Rashid on Monday said that Tahirul Qadri was master of U-turns like his cousin PTI chairman Imran Khan.In a statement issued here, the ministe ...
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MQM workers directed to submit bio data on prescribed forms by Sept 25  [Business Recorder] 15 Sep, 2014
KARACHI: The leader of Muttahida Quami Movement (MQM) Altaf Hussain has asked the party workers, supporters and office bearers in Pakistan and across the globe to submit their complete particulars in their respective units or MQM& ...
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Apple receives record pre-orders for new iPhones  [Reuters] 15 Sep, 2014
(Reuters) - Apple Inc said it received record first-day pre-orders of its new iPhone 6 and iPhone 6 Plus, with over four million in the first 24 hours, meaning many customers will have to wait for their new phones.
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LSE downs by 18.44 points  [Business Recorder] 15 Sep, 2014
LAHORE: Lahore Stock Exchange here Monday witnessed bearsh trend by losing 18.44 points, as the LSE Index-25 opened with 5466.19 points and closed at 5447.75 points. The market's overall situation, however, corresponded to ...
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PTI chief maligning democracy, politics: Mushahid  [Business Recorder] 15 Sep, 2014
ISLAMABAD: Central Secretary Information of Pakistan Muslim League-Nawaz Mushahid Ullah Khan Monday said that Imran Khan was trying to malign democracy and politics.In a statement issued here, Mushahid Ullah said that in democracy ...
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