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 Latest Business and Finance News
Exclusive: Apple iPhone 6 screen snag leaves supply chain scrambling [Reuters]
TOKYO (Reuters) - Suppliers to Apple Inc are scrambling to get enough screens ready for the new iPho ...Detail
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Dollar holds up ahead of Yellen speech  [Geo TV] 22 Aug, 2014
TOKYO: The dollar maintained its strength in Asia Friday as investors awaited a speech by the US Federal Reserve c
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U.S. federal prosecutors questioning GM lawyers on vehicle recalls: source  [Reuters] 22 Aug, 2014
(Reuters) - U.S. federal prosecutors have learned that lawyers for General Motors Co were present at key meetings during which information about problems with some of its vehicles were discussed, a source close to the investigatio ...
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Citigroup facing restrictions on sales of hedge fund investments: WSJ  [Reuters] 22 Aug, 2014
(Reuters) - Citigroup Inc has been sending hedge fund firms letters informing them that it cannot sell investments in hedge funds and private-equity funds to clients after a deal with the Securities and Exchange Commission, the Wa ...
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Asian shares hitch a ride on Wall Street's record  [Reuters] 22 Aug, 2014
TOKYO (Reuters) - Asian shares rose in early trading on Friday, after upbeat U.S. data sparked another record close on Wall Street.
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Argentina debt plan ruled 'illegal'  [BBC News] 21 Aug, 2014
 President Cristina Fernandez de Kirchner of Argentina Argentina's plan to ask investors holding defaulted bonds to swap them for new locally issued debt is ruled "illegal" by a US court.
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U.S. court denies Allergan bid to speed insider trading suit  [Reuters] 21 Aug, 2014
(Reuters) - A federal judge in California on Thursday denied a request by Allergan Inc to expedite its civil suit claiming that Valeant Pharmaceuticals International Inc and Pershing Square Capital Management engaged in insider tr ...
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Federal court denies Allergan bid to speed insider trading suit  [Reuters] 21 Aug, 2014
(Reuters) - A federal judge in California on Thursday denied a request by Allergan Inc to expedite its civil suit claiming that Valeant Pharmaceuticals International Inc and Pershing Square Capital Management engaged in insider tr ...
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Exclusive: Chrysler's Ram pickup may stick with steel through 2020 - sources  [Reuters] 21 Aug, 2014
DETROIT (Reuters) - Chrysler Group [CHRY.UL] is planning an extensive facelift of its full-size Ram 1500 pickup in spring 2017, but has no firm plans to follow rivals General Motors and Ford Motor Co in replacing steel body panels ...
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U.S. judge calls Argentina debt swap plan 'illegal'  [Reuters] 21 Aug, 2014
NEW YORK (Reuters) - U.S. District Judge Thomas Griesa on Thursday called Argentina's proposed debt restructuring plan "illegal" but stopped short of holding the country in contempt, saying that would not help resolve the dis ...
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Gap raises forecast; to open 40 stores in India  [Reuters] 21 Aug, 2014
(Reuters) - Apparel retailer Gap Inc raised its full-year profit forecast, encouraged by strong sales of its lower-priced Old Navy clothes, and said it would open 40 stores in India as part of its strategy to expand in emerging ma ...
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Exclusive: Lockheed, suppliers brainstorm how to lower F-35 operating costs  [Reuters] 21 Aug, 2014
WASHINGTON (Reuters) - Lockheed Martin Corp met with 90 key suppliers last week to brainstorm ways to lower the long-term cost of operating and maintaining the F-35 fighter jets from the Pentagon's current forecast of $1.02 t ...
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U.S. judge declines to find Argentina in contempt of court  [Reuters] 21 Aug, 2014
NEW YORK (Reuters) - U.S. District Judge Thomas Griesa on Thursday declined to find Argentina in contempt of court for its proposal to bring defaulted sovereign debt under local law.
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S&P 500 sets record close on signs of healthier economy  [Reuters] 21 Aug, 2014
NEW YORK (Reuters) - U.S. stocks ended higher on Thursday, with the S&P 500 at a record after a flurry of positive economic data, as investors hoped for signs from an annual meeting of central bankers that interest-rate hikes ...
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Exclusive: Ouya scores Xiaomi partnership to take games to China  [Reuters] 21 Aug, 2014
SAN FRANCISCO (Reuters) - U.S video game service Ouya is turning to Asia to capture the growth that has eluded the startup on its own home turf.
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Home Depot names Craig Menear CEO  [Reuters] 21 Aug, 2014
(Reuters) - Home Depot Inc named Craig Menear its chief executive, replacing Frank Blake, who will stay on as chairman.
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GameStop second-quarter sales beat expectations; shares rise  [Reuters] 21 Aug, 2014
SAN FRANCISCO (Reuters) - GameStop Corp on Thursday reported its quarterly revenue surged by 25 percent over the prior year, topping expectations, buoyed by the success of new game releases as well as solid sales of gaming hardwar ...
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Gap raises forecast as second-quarter profit beats estimates  [Reuters] 21 Aug, 2014
(Reuters) - Teen apparel retailer Gap Inc reported a better-than-expected quarterly profit and sales and raised its full-year profit forecast, helped by strong sales of its low-priced Old Navy clothes.
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JPMorgan customers targeted in email phishing campaign  [Reuters] 21 Aug, 2014
BOSTON/NEW YORK (Reuters) - Fraudsters are targeting JPMorgan Chase & Co customers in an email "phishing" campaign that is unusual because it attempts to collect credentials for that bank and also infect PCs with a virus for s ...
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S&P 500 hits record high; data shows healthier economy  [Reuters] 21 Aug, 2014
NEW YORK (Reuters) - U.S. stocks rose on Thursday after a flurry of economic data showed an improving economy and as investors awaited the start of a central bankers' meeting in Jackson Hole, Wyoming.
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Sprint and T-Mobile offer further price discounts  [Reuters] 21 Aug, 2014
WASHINGTON (Reuters) - Sprint Corp unveiled a plan on Thursday that gives subscribers access to unlimited data for $60 a month, the industry's cheapest unlimited data offering as the carrier attempts to reverse the decline in ...
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Cadillac considers moving some functions to Manhattan  [Reuters] 21 Aug, 2014
DETROIT (Reuters) - General Motors Co's premium Cadillac group is considering expanding its offices from Detroit to Manhattan, GM said Thursday, as part of an effort to remake the brand's image and broaden its appeal out ...
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EBay considering PayPal spinoff: report  [Reuters] 21 Aug, 2014
(Reuters) - EBay Inc is considering a spinoff of PayPal, its fast-growing payments unit, as soon as next year, tech news website The Information reported, citing sources.
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U.S. airlines doubled profit margins in first half, trade group says  [Reuters] 21 Aug, 2014
SEATTLE (Reuters) - U.S. airlines more than doubled their net profit margin in the first half of the year as revenue rose nearly three times faster than costs, trade group Airlines for America said on Thursday.
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Wall St. climbs to record after data; Jackson Hole ahead  [Reuters] 21 Aug, 2014
NEW YORK (Reuters) - U.S. stocks inched higher on Thursday and the S&P reached a record high, lifted by data pointing to steady improvement in the economy, as investors awaited the start of a meeting of top central bankers and ...
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EBay considering spinning off Paypal: report  [Reuters] 21 Aug, 2014
(Reuters) - EBay Inc is considering spinning out its fast-growing payments unit PayPal as soon as next year, news website The Information reported, citing sources.
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U.S. judge calls Argentina debt row hearing amid contempt calls  [Reuters] 21 Aug, 2014
NEW YORK (Reuters) - The U.S. judge who barred Argentina from servicing its debt until it settled with investors demanding full payment on their bonds scheduled a new hearing on Thursday, after the country unveiled plans to sidest ...
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U.S. housing, jobs data bolster economic outlook  [Reuters] 21 Aug, 2014
WASHINGTON (Reuters) - U.S. home resales rose to a 10-month high in July and the number of Americans filing new claims for unemployment benefits fell last week, signaling strength in the economy early in the third quarter.
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Exclusive: France forced to import wheat as rain hits crop quality  [Reuters] 21 Aug, 2014
PARIS (Reuters) - France's rain-hit wheat crop has delivered the first shock of the 2014/15 season: the EU's top grower and exporter is buying Lithuanian and British milling wheat to mix with its unusually poor-grade cro ...
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Wall St. hits record after data; Jackson Hole ahead  [Reuters] 21 Aug, 2014
NEW YORK (Reuters) - U.S. stocks inched higher on Thursday and the S&P notched a record high as a flurry of data pointed to steady improvement in the economy and investors awaited the start of a meeting of top central bankers ...
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Ford tells U.S. dealers to stop selling some C-Max, Focus models  [Reuters] 21 Aug, 2014
DETROIT (Reuters) - Ford Motor Co has told its U.S. dealers to stop test-driving and selling C-Max and Focus models produced during a week this month because of potential problems with the steering gear assembly, a notice sent to ...
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