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 Latest Business and Finance News
Japan, U.S. trade talks in stalemate, ministers to meet again: Japan [Reuters]
WASHINGTON/TOKYO (Reuters) - U.S.-Japan talks aimed at a trade deal seen as vital to a broader regio ...Detail
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Singapore no home for luxury developers as cooling measures bite  [Reuters] 17 Apr, 2014
SINGAPORE (Reuters) - Luxury property developers in Singapore are facing their worst sales outlook in six years as a raft of government measures to cool one of the world's most expensive real estate markets bite.
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Earnings lift S&P 500, Nasdaq; S&P's best week since July  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - Stocks ended a holiday-shortened week with mostly modest gains on Thursday, though the S&P 500 notched its biggest weekly advance since July as Morgan Stanley and General Electric rallied after strong resu ...
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Retailer Michaels Stores confirms payment card data breach  [Reuters] 17 Apr, 2014
(Reuters) - Michaels Stores Inc, the biggest U.S. arts and crafts retailer, on Friday confirmed that there was a breach of certain systems that process payment cards at its U.S. stores and that of its unit, Aaron Brothers.
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S&P 500, Nasdaq rise after strong results  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - The major U.S. stock indexes ended a holiday-shortened week with mostly gains on Thursday, giving the S&P 500 its biggest weekly advance since July as Morgan Stanley and General Electric rallied after stro ...
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BlackRock's quarterly profit climbs as investors pile into funds  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - BlackRock Inc, the world's largest money manager, said on Thursday first-quarter profit rose 20 percent, boosted by strong performance fees and strength in its retail business as investors poured money in ...
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Wall Street edges higher during earnings flurry  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - Stocks advanced slightly in choppy trading on Thursday after three days of gains, as underwhelming results from tech bellwethers Google and IBM were offset by upbeat quarterly numbers, including those from Mor ...
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Jobless claims, factory data put some shine on economy  [Reuters] 17 Apr, 2014
WASHINGTON (Reuters) - New claims for jobless benefits hovered near their pre-recession levels last week and manufacturing in the Mid-Atlantic region accelerated in April, suggesting an upswing in economic activity after a brutall ...
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Ex-BP employee settles SEC insider-trading oil spill case  [Reuters] 17 Apr, 2014
WASHINGTON (Reuters) - A former 20-year veteran of BP plc who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges alleging he used non-public informat ...
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U.S. judge declines to order 'park it now' notices for GM cars  [Reuters] 17 Apr, 2014
(Reuters) - A federal judge on Thursday rejected a bid to compel General Motors Co to tell customers to stop driving millions of cars that have been recalled for defective ignition switches.
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Ex-Goldman director Gupta to surrender June 17 in insider case  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - Former Goldman Sachs Group Inc director Rajat Gupta is expected to begin his two-year prison term on June 17 for insider trading.
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BlackRock's quarterly profit jumps as investors pile into funds  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - BlackRock Inc, the world's largest money manager, said on Thursday its first-quarter profit rose 20 percent, boosted by strong performance fees and strength in its retail business as investors poured mone ...
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Monster Beverage in $16.25 million 'channel-stuffing' settlement  [Reuters] 17 Apr, 2014
(Reuters) - Monster Beverage Corp reached a $16.25 million settlement with shareholders who said the energy drink maker defrauded them by overstating the financial benefits of a distribution arrangement with Anheuser-Busch.
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DuPont expects farm business to pick up after severe winter  [Reuters] 17 Apr, 2014
(Reuters) - Chemicals maker DuPont expects its agriculture business to grow this quarter as farmers buy seeds and insecticides after a delayed start to planting season in North America, which hurt the company's revenue in the ...
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Exclusive: 'Leopard King' Cavalli nears 450 million euro sale to Permira - sources  [Reuters] 17 Apr, 2014
LONDON (Reuters) - Italian designer Roberto Cavalli is in advanced talks to sell a majority stake in his eponymous fashion house to London-based buyout firm Permira in a sale worth about 450 million euros ($621 million), four sour ...
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U.S. jobless claims, factory data give economy some shine  [Reuters] 17 Apr, 2014
WASHINGTON (Reuters) - New applications for unemployment benefits held near their pre-recession levels last week and factory activity in the Mid-Atlantic region accelerated in April, painting a bright picture of the economy.
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Wall Street little changed amid earnings flurry  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - Stocks were little changed in choppy trading on Thursday following three days of gains, as underwhelming results from tech giants Google and IBM were offset by upbeat quarterly numbers including those from Mor ...
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For Goldman Sachs and Morgan Stanley, boring is beautiful  [Reuters] 17 Apr, 2014
(Reuters) - Investment banks Morgan Stanley and Goldman Sachs Group Inc posted better-than-expected quarterly earnings on Thursday, helped by gains in merger advisory and stock underwriting.
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GE industrial profit boost underscores strategy, shares up  [Reuters] 17 Apr, 2014
(Reuters) - General Electric Co posted a 12 percent rise in overall industrial profits on Thursday, as strength in its businesses selling gas turbines, jet engines and oil industry equipment offset weakness in healthcare and trans ...
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Four companies qualify for 3G, 4G auction: PTA  [Geo TV] 17 Apr, 2014
ISLAMABAD: The Pakistan Telecommunications Authority (PTA) announced on Thursday that four cellular companies had
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Wal-Mart takes on Western Union with store-to-store money transfers  [Reuters] 17 Apr, 2014
(Reuters) - Wal-Mart Stores Inc said on Thursday it was launching a new domestic money transfer service called "Walmart-2-Walmart" in partnership with Euronet Worldwide Inc subsidiary Ria Money Transfer, competing directly with We ...
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Online retailers in Germany under fire over working conditions  [Reuters] 17 Apr, 2014
FRANKFURT (Reuters) - Working practices at the German operations of two of Europe's largest online retailers have come under fire this week, with more strikes at Amazon and Zalando being forced to defend its warehouse operati ...
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Qaim welcomes Chinese investment in Sindh  [Business Recorder] 17 Apr, 2014
KARACHI: Sindh Chief Minister Syed Qaim Ali Shah Thursday appreciated the contribution of Chinese investment in development of energy sector and said that huge potential of the primary energy resources are waiting for more investm ...
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Wall Street opens flat on mixed earnings  [Reuters] 17 Apr, 2014
NEW YORK (Reuters) - Wall Street opened flat on Thursday, following three days of gains, as underwhelming results from tech giants Google and IBM were offset by upbeat quarterly numbers from the likes of Morgan Stanley, Goldman Sa ...
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Barclays reorganizes management of investment bank  [Reuters] 17 Apr, 2014
LONDON (Reuters) - Barclays announced a number of promotions in its investment bank's management on Friday, while it continues with a review of the division that contributes about half of the group's total profits.
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Wal-Mart to launch new money transfer service  [Reuters] 17 Apr, 2014
(Reuters) - Wal-Mart Stores Inc said on Thursday it was launching a new domestic money transfer service called "Walmart-2-Walmart" in partnership with Euronet Worldwide Inc subsidiary Ria Money Transfer, competing directly with We ...
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CM Sindh wants formation of PSDC for proper utilisation of petroleum revenue  [Business Recorder] 17 Apr, 2014
KARACHI: Sindh Chief Minister Sindh Syed Qaim Ali Shah has directed the authorities concerned to work for constitution of Petroleum Social Development Committees (PSDC) to ensure that collected fund from petroleum recourse are pro ...
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Morgan Stanley profit soars on wealth management, trading  [Reuters] 17 Apr, 2014
(Reuters) - Morgan Stanley reported a 55 percent jump in first-quarter earnings as higher revenue from the bank's institutional securities business augmented another strong quarter from wealth management.
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Pak's liquid forex figure $ 9.84906bn  [Business Recorder] 17 Apr, 2014
KARACHI: The total liquid foreign reserves of the country stand at dollars 9.84906 billion, said State Bank of Pakistan.According to SBP's weekly statement here on Thursday, the foreign reserves held by State Bank on April ...
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Russia wants to help Pakistan in energy sector: Alexey Dedov  [Business Recorder] 17 Apr, 2014
KARACHI: Russian Federation's Ambassador to Pakistan , Alexey Y. Dedov here on Thursday said that his country wanted to help Pakistan in energy sector as it is facing shortage of energy.The Ambassador , in his interactive ...
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U.S. jobless claims hover near pre-recession levels  [Reuters] 17 Apr, 2014
WASHINGTON (Reuters) - New applications for unemployment benefits held near their pre-recession levels last week, offering further evidence of the economy's underlying strength.
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