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 Latest Business and Finance News
Tokyo stocks open down 0.70 percent [Geo TV]
TOKYO: Tokyo stocks opened 0.70 percent lower on Friday, following a sell-off on Wall Street on weak ...Detail
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Deutsche Bank profit rises as investment bank focus pays off  [Reuters] 29 Jul, 2014
FRANKFURT (Reuters) - Deutsche Bank's plan to become "the last man standing" in investment banking in Europe is working, the bank said on Tuesday, reporting a 16 percent year-on-year increase in quarterly pretax income.
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Shanghai court says trial of GSK-linked investigators set for August 8  [Reuters] 29 Jul, 2014
SHANGHAI (Reuters) - The public trial of a foreign couple linked to GlaxoSmithKline Plc (GSK) is set for Aug. 8, a Shanghai court said on Tuesday.
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BP second-quarter profit rises 34 percent  [Reuters] 29 Jul, 2014
(Reuters) - BP Plc reported a 34 percent rise in quarterly profit and said it would pay a dividend of 9.75 cents a share for the quarter ended June 30.
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Asia stocks reach three-year peak, China on the rise  [Reuters] 29 Jul, 2014
SYDNEY (Reuters) - Asian shares touched fresh three-year highs on Tuesday as investors in the region drew encouragement from a rally in Chinese markets, though caution was warranted given the torrent of U.S. economic news still to ...
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UBS says books 254 million euros against second quarter to settle one German tax probe  [Reuters] 29 Jul, 2014
ZURICH (Reuters) - UBS booked a 254 million euro ($341.25 million) charge in the second quarter mainly to settle claims it helped wealthy Germans to dodge taxes, the latest in a string of lawsuits that have targeted its private ba ...
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Exclusive: Goldman unit eyes foray into China amid metals financing scandal  [Reuters] 29 Jul, 2014
NEW YORK/SYDNEY/LONDON (Reuters) - Goldman Sachs Group Inc's metals warehousing unit is exploring its first foray into China, and privately held C Steinweg has expanded capacity there, sources said, as a financing scandal in ...
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Jaded Argentines brace for looming debt default  [Reuters] 29 Jul, 2014
BUENOS AIRES (Reuters) - Factory owner Norberto Garcia was poised to launch a series of new toys this year after grafting hard for the past decade to rebuild his business following Argentina's 2001-2002 economic crash and deb ...
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Argentine debt defiance may strengthen holdouts' legal position  [Reuters] 29 Jul, 2014
NEW YORK (Reuters) - Argentina has fought in court for a dozen years against the claims of holdout investors in its defaulted debt, and Argentina has lost. The holdouts, led by Paul Singer's Elliott Capital Management and Mar ...
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Microsoft targeted in apparent Chinese anti-trust probe  [Reuters] 29 Jul, 2014
BEIJING (Reuters) - Microsoft Corp appears to be the latest U.S. company targeted by China for anti-trust investigation after government officials paid sudden visits to the software firm's Chinese offices on Monday.
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Citi to hire 100 bankers in Asia, eyes more business from smaller clients  [Reuters] 29 Jul, 2014
HONG KONG (Reuters) - Citigroup plans to hire as many as 100 bankers in a renewed push into Asia-Pacific commercial banking, following in rival HSBC's footsteps with a strategy that focuses on selling smaller corporate client ...
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Darden CEO steps down amid food fight with investors  [Reuters] 29 Jul, 2014
(Reuters) - Darden Restaurants Inc's food fight with activist investors Barington Capital Group LP and Starboard Value LP entered a new phase on Monday, when the company said Clarence Otis would step down as chairman and chie ...
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China regulators in Microsoft visit  [BBC News] 29 Jul, 2014
Microsoft confirms that officials from the Chinese regulatory body responsible for enforcing business laws have visited some of its offices.
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Darden CEO to step down amid investor pressure, stock jumps  [Reuters] 29 Jul, 2014
(Reuters) - Darden Restaurants Inc said on Monday that Clarence Otis would step down as chairman and chief executive officer, buckling under pressure from activist investors Barington Capital Group LP and Starboard Value LP.
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China orders anti-monopoly probe of Microsoft  [ARY News] 29 Jul, 2014
BEIJING: A Chinese regulator said on Tuesday it is conducting an anti-monopoly investigation into Microsoft Corp over its Windows operating system, in the latest in a growing number of competition probes that have unnerved Western ...
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With PlayStation network, Sony goes back to the future in search of revival  [ARY News] 29 Jul, 2014
TOKYO: Japan’s Sony Corp is hammering out plans to rise from the ashes of nearly $10 billion lost in six years by building a future around its last consumer electronics blockbuster – the PlayStation.
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Exclusive: Goldman moves executive to new role building ETFs  [Reuters] 28 Jul, 2014
NEW YORK (Reuters) - Goldman Sachs Group Inc has moved an executive from its trading division to its investment-management division to launch a business that will sponsor exchange-traded funds and sell them to retail clients throu ...
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Dollar Tree to buy Family Dollar to stave off competition  [Reuters] 28 Jul, 2014
(Reuters) - Dollar Tree Inc agreed to buy rival discount chain Family Dollar Stores Inc for $8.5 billion to fend off growing competition from Wal-Mart Stores Inc and fellow discounter Dollar General Corp .
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Wall Street yawns as deal news offsets data; Herbalife sinks  [Reuters] 28 Jul, 2014
NEW YORK (Reuters) - Stocks ended nearly flat on Monday as the latest deal news offset losses following discouraging data on the housing market and some signs of weakness in the services sector.
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Consumer Reports wants Toyota to recall older Camry hybrids  [Reuters] 28 Jul, 2014
DETROIT (Reuters) - An influential consumer magazine on Monday called on Toyota Motor Corp to recall about 177,500 older Camry hybrid sedans to address potential power brake defects.
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Bankers should 'swear ethics oath'  [BBC News] 28 Jul, 2014
An oath for bankers should be introduced to raise accountability and standards in banking, says a think tank.
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Bankers 'must swear oath'  [BBC News] 28 Jul, 2014
An oath for bankers should be introduced to raise accountability and standards in banking, says a think tank.
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With PlayStation network, Sony goes back to the future in search of revival  [Reuters] 28 Jul, 2014
TOKYO (Reuters) - Japan's Sony Corp is hammering out plans to rise from the ashes of nearly $10 billion lost in six years by building a future around its last consumer electronics blockbuster - the PlayStation.
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Wall Street finishes flat; deal news offsets housing data  [Reuters] 28 Jul, 2014
NEW YORK (Reuters) - Stocks ended nearly flat on Monday as the latest deal news offset losses following discouraging data on the housing market and some signs of weakness in the services sector.
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Court orders Russia to pay $50 billion for seizing Yukos assets  [Reuters] 28 Jul, 2014
MOSCOW/LONDON/AMSTERDAM (Reuters) - An international arbitration court ruled on Monday that Russia must pay $50 billion for expropriating the assets of Yukos, the former oil giant whose ex-owner Mikhail Khodorkovsky fell foul of t ...
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Wall Street near flat as deal news offsets housing data  [Reuters] 28 Jul, 2014
NEW YORK (Reuters) - Stocks barely moved on Monday as the latest deal news offset losses following soft data on the housing market and services sector.
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Microsoft targeted in apparent Chinese antitrust probe  [Reuters] 28 Jul, 2014
BEIJING (Reuters) - Microsoft Corp appears to be the latest U.S. company targeted by China for antitrust investigation as government officials paid sudden visits to the software firm's Chinese offices on Monday.
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Shares steady, dollar edges lower ahead of key U.S. events  [Reuters] 28 Jul, 2014
NEW YORK (Reuters) - World stock markets were little changed on Monday while the U.S. dollar edged lower against a basket of major currencies ahead of a ream of U.S. data and events this week.
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Exclusive: GM moves next version of big pickups ahead by nine months - sources  [Reuters] 28 Jul, 2014
DETROIT (Reuters) - General Motors Co has pushed forward the launch of its next-generation full-size pickups by about nine months to fall 2018, hoping to narrow rival Ford Motor Co's still-sizable lead in meeting future U.S. ...
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Argentina to hold last-gasp debt talks with mediator Tuesday  [Reuters] 28 Jul, 2014
BUENOS AIRES/NEW YORK (Reuters) - Argentina on Tuesday will meet the U.S. mediator in its battle with 'holdout' debt investors suing the country for last-minute talks to avert its second default this century.
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Wall Street dips as housing data disappoints  [Reuters] 28 Jul, 2014
NEW YORK (Reuters) - U.S. stocks slipped on Monday as weak data on the housing market and services sector gave the latest indications that economic conditions were getting worse, taking the S&P 500 below a key support level.
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