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 Latest Business and Finance News
Alibaba set to launch IPO roadshow week of September 8: New York Times [Reuters]
HONG KONG (Reuters) - Chinese e-commerce company Alibaba Group Holding Ltd is set to start formally ...Detail
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U.S. auto sales seen ending summer without a sizzle  [Reuters] 30 Aug, 2014
DETROIT (Reuters) - U.S. auto industry sales in August will be about even with a year ago, not quite ending the summer in a sizzling fashion but still warm enough to continue the recovery from a recession now five years in the rea ...
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U.S. coal stocks could gain on Russia tension  [Reuters] 30 Aug, 2014
NEW YORK (Reuters) - Beaten-down U.S. coal company stocks may receive a lift in coming weeks if deteriorating relations between Russia and the West push President Vladimir Putin to shut off Europe's natural gas supply.
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Exclusive: Bitcoin promoter to plead guilty to unlicensed money transmission  [Reuters] 29 Aug, 2014
NEW YORK (Reuters) - Bitcoin entrepreneur Charlie Shrem has reached a plea deal to resolve U.S. charges that he engaged in a scheme to sell over $1 million of the digital currency to users of illicit online marketplace Silk Road, ...
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Exclusive: Intel hires senior Qualcomm exec to boost mobile business  [Reuters] 29 Aug, 2014
SAN FRANCISCO (Reuters) - Chipmaker Intel Corp has hired Amir Faintuch, a senior executive at rival Qualcomm Inc , to step up efforts in mobile and Internet-connected gadgets.
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U.S. judge sets hearing in Argentina bond case over Citi subpoena  [Reuters] 29 Aug, 2014
NEW YORK (Reuters) - A U.S. judge overseeing litigation by Argentina and creditors who did not participate in the country's past debt restructurings on Friday scheduled a hearing to assess whether Citigroup Inc should be forc ...
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IMF board stands behind Lagarde over French probe  [Reuters] 29 Aug, 2014
WASHINGTON (Reuters) - The International Monetary Fund's board on Friday stood behind the global lender's leader, Christine Lagarde, who is facing a criminal investigation in France tied to a political corruption probe d ...
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Exclusive: Intel hires senior exec Faintuch from Qualcomm  [Reuters] 29 Aug, 2014
SAN FRANCISCO (Reuters) - Chipmaker Intel Corp has hired Amir Faintuch, a senior executive from Qualcomm , to co-manage the development of the company's chips, an Intel spokesman said on Friday.
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S&P advances to set new record in quiet session  [Reuters] 29 Aug, 2014
NEW YORK (Reuters) - U.S. stocks closed out a strong month on a quiet note on Friday, with the S&P 500 posting a modest gain to close at a new record as the latest in a string of positive data helped extend a rally that had be ...
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U.S auto sales seen ending summer without a sizzle  [Reuters] 29 Aug, 2014
DETROIT (Reuters) - U.S. auto industry sales in August will be about even with a year ago, not quite ending the summer in a sizzling fashion but still warm enough to continue the recovery from a recession now five years in the rea ...
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Exclusive: U.S. options exchanges craft rules to fend off turmoil  [Reuters] 29 Aug, 2014
NEW YORK (Reuters) - A year after Goldman Sachs bungled a software upgrade and lost tens of millions of dollars from unintended trades, the 12 U.S. stock options exchanges have crafted new rules for dealing with erroneous transact ...
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AT&T sues Cox Communications for patent infringement  [Reuters] 29 Aug, 2014
(Reuters) - AT&T is suing Cox Communications for infringing eight patents dealing with network quality after the regional cable provider ignored its complaints about the issue and made "billions" off of the technology, accordi ...
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Kraft issues voluntary recall of some American Singles cheese product  [Reuters] 29 Aug, 2014
NEW YORK (Reuters) - Kraft Foods Group Inc said on Friday it is voluntarily recalling 7,691 cases of some varieties of its Kraft American Singles as a precautionary measure after a supplier failed to store an ingredient correctly. ...
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Wall Street edges up, set for best month since February  [Reuters] 29 Aug, 2014
NEW YORK (Reuters) - U.S. stocks edged higher in a quiet session on Friday as the latest in a string of positive data pushed investors to extend a rally that had been briefly threatened by overseas concerns, although gains were ca ...
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U.S. consumer spending pauses, but rising confidence offers hope  [Reuters] 29 Aug, 2014
WASHINGTON (Reuters) - U.S. consumer spending fell in July for the first time in six months, but confidence among households hit a seven-year high in August, suggesting the retrenchment would be temporary.
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Sprint grabs lifeline with rural U.S. roaming deals  [Reuters] 29 Aug, 2014
WASHINGTON (Reuters) - With plans for a T-Mobile US Inc merger in tatters, Sprint Corp is expanding a roaming program with rural cellphone companies that could provide a much-needed way for the debt-laden wireless carrier to cheap ...
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Oracle loses bid to restore $1.3 billion SAP verdict, could get new trial  [Reuters] 29 Aug, 2014
(Reuters) - A federal appeals court on Friday rejected Oracle Corp's bid to restore a $1.3 billion jury verdict in its long-running copyright dispute with German software company SAP SE, and said Oracle may choose to either a ...
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U.S. consumer spending dips; confidence at seven-year high  [Reuters] 29 Aug, 2014
WASHINGTON (Reuters) - U.S. consumer spending fell in July for the first time in six months, but a rise in confidence among households in August to a seven-year high suggested the retrenchment was likely temporary.
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Wall Street edges down but on track for 4th week of gains  [Reuters] 29 Aug, 2014
NEW YORK (Reuters) - U.S. stocks were slightly lower on Friday, with investors finding few reasons to extend a long-running rally, even as the latest economic data joined the trend of better-than-expected reports on the economy.
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U.S. consumer sentiment rises in final August reading  [Reuters] 29 Aug, 2014
NEW YORK (Reuters) - U.S. consumer sentiment rose in August, while an index of current economic conditions hit its highest since July 2007, a survey released on Friday showed.
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Tesco slashes dividend after second profit warning in two months  [Reuters] 29 Aug, 2014
LONDON (Reuters) - Tesco will slash its dividend and investment spending to give its new boss more firepower to rebuild Britain's biggest retailer, after a second profit warning in two months showed the scale of the task he f ...
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Fiat signals Chrysler merger on track  [Reuters] 29 Aug, 2014
MILAN (Reuters) - Fiat signaled its merger with U.S. affiliate Chrysler was on track on Friday as a tally of shareholders suggested most had chosen not to exercise an option that could derail the plan, a vital step in the Italian ...
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E-government master plan to promote new emerging technologies: Anusha  [Business Recorder] 29 Aug, 2014
ISLAMABAD: Minister of State for Information Technology, Ms. Anusha Rahman on Friday emphasized the need for formulation of e-government master plan to cover all aspects of successful implementation of e-government programmes.This ...
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CM reviews school reforms roadmap  [Business Recorder] 29 Aug, 2014
LAHORE: Chief Minister Punjab Muhammad Shahbaz Sharif Friday said, implementation of Punjab School Reforms Roadmap has substantially improved the education sector in the province.He said target of enrolment of 4 million children i ...
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Futures up, indexes on track for 4th week of gains  [Reuters] 29 Aug, 2014
NEW YORK (Reuters) - U.S. stock index futures pointed to modest gains at the open on Friday, indicating the market's recent upswing was intact with major indexes on track for their fourth straight week of gains.
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SoftBank's first Sony smartphone deal takes aim at U.S. market  [Reuters] 29 Aug, 2014
TOKYO (Reuters) - Japan's SoftBank Corp and its U.S. mobile carrier Sprint Corp will offer a Sony smartphone for the first time, sources with knowledge of the matter said, as the two technology titans confront daunting challe ...
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U.S. consumer spending slips; savings highest in 1-1/2 years  [Reuters] 29 Aug, 2014
WASHINGTON, Aug 29 (Reuters) - U.S. consumer spending unexpectedly fell in July as savings rose to their highest level in more than 1-1/2 years, a sign that households remain cautious despite an acceleration in economic and jobs g ...
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Cattle market at Sohrab Goth soon  [Business Recorder] 29 Aug, 2014
KARACHI: The cattle market at Karachi's Sohrab Goth would start functioning soon. All sacrificial animals entering the cattle mandi will be vaccinated to protect them from diseases, Administrator Sohrab Goth Maweshi Mandi, ...
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PM seeks report on killing of media persons in Quetta  [Business Recorder] 29 Aug, 2014
ISLAMABAD: Prime Minister Muhammad Nawaz Sharif Friday sought report from the authorities concerned on the killing of three journalists in Quetta.The journalists including Assignment Editor of ARY News Quetta Bureau, Irshad Mastoi ...
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Pakistan Steel receives Rs2.125bn more from govt  [Business Recorder] 29 Aug, 2014
KARACHI: Pakistan Steel Mills has received Rs. 2.125 billion out of Rs 2.875 billion of 4th installment of 1st tranche of its restructuring package of Rs 18.5 billion approved by the Federal Government.A PSM release said that the ...
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Chicken price comes down to Rs120 per kg  [Business Recorder] 29 Aug, 2014
ISLAMABAD: The price of live chicken which was being sold at Rs. 150 per kg last week has come down to Rs. 120 per kg however the eggs' prices are still at Rs. 110 per dozen.While talking to APP, Dr Hassan Sarosh, Chairman ...
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