Headline stringlengths 3 99 | Journalists listlengths 1 4 | Date stringlengths 26 28 | Link stringlengths 61 105 | Summary stringlengths 1 6.44k | Article stringlengths 0 57.9k | __index_level_0__ int64 0 106k |
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Hitachi, GE boost alliance in nuclear power business | [
""
] | Mon Nov 13, 2006 3:16am EST | http://www.reuters.com/article/2006/11/13/us-energy-hitachi-ge-idUSTKB00256820061113 | TOKYO - Hitachi Ltd. ( 6501.T ) said on Monday it has agreed with General Electric Co. ( GE.N ) to expand their global alliance in the nuclear power business, aiming to strengthen their position in a growing market. | The move comes a month after France's Areva CEPFi.PA, the world's largest maker of nuclear reactors, and Japan's Mitsubishi Heavy Industries ( 7011.T ) said they would cooperate in this sector, while Toshiba Corp. ( 6502.T ) completed a $4.2 billion deal to take control of Westinghouse, the U.S. power plant unit of Br... | 0 |
Volvo to cut 1,000 staff at Virginia plant | [
""
] | Mon Nov 13, 2006 8:45am EST | http://www.reuters.com/article/2006/11/13/us-autos-volvo-us-idUSSAT00355920061113 | STOCKHOLM - Truck maker Volvo said on Monday it would cut about 1,000 staff at its Dublin, Virginia plant in the United States due to an expected decline in output. | After years of strong demand truck makers see a sharp drop in sales in the early months of 2007 as a buying spree of older, but cheaper, trucks ahead of new tougher exhaust emission rules, taking effect at the turn of the year, comes to an end. Volvo has said that the North American heavy-duty truck market could contr... | 1 |
European banks hiding full pension obligations | [
"Andrew Hurst"
] | Mon Nov 13, 2006 3:15am EST | http://www.reuters.com/article/2006/11/13/us-financial-pensions-idUSL1083562820061113 | ZURICH, Nov 13 (Reuter) - West European banks are failing to disclose unfunded staff pension obligations running to billions of dollars, in contrast to U.S. banks which are required to show the full picture, Standard & Poor's said in a report on Monday. | Since adopting International Financial Reporting Standards (IFRS) in 2004, many European banks have used the so-called corridor method of accounting, allowing big unrecognized actuarial losses on their pension obligations to be kept off the balance sheet. "They are hiding behind the corridor method," said the report's... | 2 |
Hitachi, GE to form joint nuclear power ventures | [
"Mayumi Negishi"
] | Mon Nov 13, 2006 7:13am EST | http://www.reuters.com/article/2006/11/13/us-energy-hitachi-ge-nuclear-idUST3593020061113 | TOKYO - Japan's Hitachi Ltd. and U.S. group General Electric Co. said on Monday they would set up joint ventures in Japan and the United States to combine their nuclear power operations and capture more contracts. | The partnership would help Hitachi, Japan's biggest electronics conglomerate, turn its nuclear power business around and help it get more boiling water reactor contracts abroad, Hitachi said. Hitachi President Kazuo Furukawa told reporters the company aimed to win contracts to build at least a third of the 25 nuclear ... | 3 |
Eddie Bauer agrees to be bought for $286 million | [
""
] | Mon Nov 13, 2006 7:29am EST | http://www.reuters.com/article/2006/11/13/us-retail-eddiebauer-suncapitalpartners-idUSWNAS309120061113 | - Eddie Bauer Holdings Inc. EBHI.O said and it has agreed to be acquired by a company owned by affiliates of Sun Capital Partners Inc. and Golden Gate Capital for about $286 million and the assumption of about $328 million in debt. | The cash deal is expected to provide Eddie Bauer, a clothing and accessories retailer, with the resources and time necessary to execute its turnaround strategy, Chief Executive Fabian Mansson said in a statement Monday. (Reporting by Anthony Kurian in Bangalore) | 4 |
IBM to join Citigroup bid for Chinese bank stake | [
"George Chen",
"rian Kelleher"
] | Mon Nov 13, 2006 7:33am EST | http://www.reuters.com/article/2006/11/13/us-financial-china-ibm-idUSHKG36195220061113 | HONG KONG - International Business Machines ( IBM.N ) will join a consortium led by Citigroup ( C.N ) that is bidding $3 billion for control of China's Guangdong Development Bank, sources familiar with the matter said on Monday. | IBM Global Financing, a unit of the world's largest technology services company, will take a stake of up to 5 percent in the troubled southern Chinese lender if the Citigroup bid was successful, the sources said. Citigroup and France's Societe Generale ( SOGN.PA ) have been locked in a takeover battle for more than a ... | 5 |
Yum takes slower approach to drive-thrus in China | [
"Nichola Groom"
] | Mon Nov 13, 2006 9:40am EST | http://www.reuters.com/article/2006/11/13/us-leisure-yum-china-idUSN1345820820061113 | SHANGHAI - Yum Brands Inc. ( YUM.N ) is pushing ahead with plans to add more drive-thru restaurants to its KFC business in China, but is taking a more cautious approach than rival McDonald's Corp. ( MCD.N ), the top executive for that market said on Monday. | The fast-food company plans to open 100 KFC drive-thrus in China over the next three years, Yum China President Sam Su said, calling that plan very aggressive. The company currently has four drive-thrus in China. Su added, however, that he did not see the need for half of KFCs new outlets to have drive-thrus. McDonald... | 6 |
Illumina to buy genome firm Solexa for $600 mln | [
""
] | Mon Nov 13, 2006 12:35pm EST | http://www.reuters.com/article/2006/11/13/us-illumina-solexa-idUSN1348062320061113 | NEW YORK/LONDON - Gene-testing technology company Illumina Inc. will acquire Solexa Inc. in a stock deal valuing the developer of genetic analysis systems at about $600 million, the companies said on Monday. | The deal crystallises value in Solexa, a company which was originally founded in Britain and believes it has found a bargain-basement way to sequence whole individual genomes for a few thousand dollars. Mapping the first draft of the archetypal human genome, the "book of life" that includes all the genes in the human ... | 7 |
American Express to buy Harbor Payments | [
""
] | Mon Nov 13, 2006 2:38pm EST | http://www.reuters.com/article/2006/11/13/us-financial-americanexpress-harbor-idUSN1317488820061113 | NEW YORK - American Express Co. ( AXP.N ) is close to announcing that it will purchase corporate payments management company Harbor Payments, a move that will expand the credit card issuer's processing business, a source close to the deal said on Monday. | The purchase is expected to be announced as soon as this week, and completed by the end of the year. Christine Levite, a spokeswoman for American Express, declined to comment, citing a policy against commenting on rumors. A marketer at closely-held Harbor was not immediately available to comment. Atlanta-based Harbor ... | 8 |
GE, Hitachi form nuclear power alliance | [
"Mayumi Negishi",
"Scott Malone"
] | Mon Nov 13, 2006 3:10pm EST | http://www.reuters.com/article/2006/11/13/us-energy-hitachi-ge-nuclear-idUST576620061113 | BOSTON/TOKYO - U.S. conglomerate General Electric Co. ( GE.N ) and Japan's Hitachi Ltd. ( 6501.T ) said on Monday they planned to pool their nuclear units in a $2 billion enterprise they hope will capture more contracts as power suppliers gear up to build a new generation of plants. | The two companies, which already have a joint venture for nuclear fuels, have also teamed up on a bid to build a nuclear power plant that merchant power company NRG Energy Inc. ( NRG.N ) aims to build in Texas. That could be among the first new nuclear plants ordered in the United States in three decades. They said th... | 9 |
Clear Channel bids due Monday: sources | [
"Megan Davies"
] | Mon Nov 13, 2006 11:19am EST | http://www.reuters.com/article/2006/11/13/us-media-clearchannel-bids-idUSN1344834820061113 | NEW YORK - Bids are due on Monday for Clear Channel Communications Inc. ( CCU.N ), with two private equity groups expected to make offers for the No. 1 U.S. radio company, whose market value tops $17 billion. | Clear Channel, which has about 1,150 stations, said last month that it was evaluating strategic alternatives for its business and had hired investment bank Goldman Sachs & Co. ( GS.N ) to advise it. Sources familiar with the situation said on Sunday that bids were due on Monday and that proposals were expected from tw... | 10 |
U.S. investor Brandes cut Volkswagen stake -paper | [
""
] | Mon Nov 13, 2006 2:26pm EST | http://www.reuters.com/article/2006/11/13/us-autos-volkswagen-idUSL1315107020061113 | FRANKFURT - U.S. financial investor Brandes Investment Partners has apparently cut its stake in German car maker Volkswagen ( VOWG.DE ) to less than 5 percent recently, a German newspaper said on Monday. | Quoting "well-informed sources", the Frankfurter Allgemeine Zeitung said Brandes had apparently sold a large part of its stake, adding that the U.S. investor had bought most of its shares when the stock was trading at less than 40 euros each. VW closed flat at 80 euros on Monday. The German carmaker declined to commen... | 11 |
Motorola wins $1.6 billion China mobile phone order | [
""
] | Mon Nov 13, 2006 5:32am EST | http://www.reuters.com/article/2006/11/13/us-telecoms-china-motorola-idUSSP3278220061113 | BEIJING - Motorola Inc. MOT.N, the world's second-largest cellphone maker, will supply China Telling Communications with $1.6 billion worth of phones in 2007, Yan Siqing, chief executive officer of the Shenzhen-based distributor of telecoms products, told reporters on Monday. | "Motorola will supply 12 million handsets in 2007 to Telling," said Yan. Motorola would supply the company with about six million cell phones this year, he said. Earlier this year, Motorola had said it expected to claim a quarter of China's handset market by the end of 2006, up from the 21 percent share it had in May.... | 12 |
Foundation blocks Arcelor Mittal's sale of Dofasco | [
"Emma Davis",
"Julien Ponthus"
] | Mon Nov 13, 2006 9:18am EST | http://www.reuters.com/article/2006/11/13/us-minerals-arcelormittal-idUSBRE00070620061113 | BRUSSELS - A Dutch foundation holding the shares of Dofasco, Arcelor Mittal's ( ISPA.AS ) Canadian unit, said on Monday it had refused a request that would have allowed the sale of the unit to Germany's Thyssenkrupp ( TKAG.DE ). | "We have decided not to terminate the administration of the shares of Dofasco," the foundation's chairman Allan Tuttle told Reuters in a telephone interview. Thyssenkrupp said in a statement it was not ready to concede defeat and was determined to continue its efforts to snatch the Canadian steel maker. "ThyssenKrupp ... | 13 |
Starbucks sees 2,400 new stores in fiscal year '07 | [
""
] | Mon Nov 13, 2006 3:00pm EST | http://www.reuters.com/article/2006/11/13/us-food-starbucks-costarica-idUSN1348126720061113 | SAN JOSE, Costa Rica - Starbucks Corp. ( SBUX.O ) will open 2,400 stores in its 2007 fiscal year and will have 20,000 stores worldwide within seven years, a senior executive said on Monday. | Colman Cuff, Starbucks' director of trading and operations, said the new stores would be spread among the United States and worldwide markets, with Asian growth driven by China. "In fiscal year 2006 we opened more stores than were forecast, and we will better that in fiscal year 2007," Cuff said at the Sintercafe coff... | 14 |
Stocks rise on oil drop; election worry lingers | [
"u",
"Ellis Mny"
] | Mon Nov 13, 2006 2:09pm EST | http://www.reuters.com/article/2006/11/13/us-markets-stocks-idUSN0922085820061113 | NEW YORK - U.S. stocks rose on Monday as falling oil prices lifted shares of industrial bellwethers such as General Electric Co. ( GE.N ), but nervousness ahead of economic reports which set the course for interest rates limited a broader advance. | Analysts said there was also lingering uncertainty about the legislative agenda of the Democrats after they won control of Congress in last week's mid-term elections. Analysts fear the Democrats could pile pressure on big pharmaceuticals to cut prices and may consider curbing defense spending. Since the November 7 vot... | 15 |
Eddie Bauer accepts $286 mln private equity bid | [
""
] | Mon Nov 13, 2006 1:28pm EST | http://www.reuters.com/article/2006/11/13/us-retail-eddiebauer-suncapitalpartners-idUSBNG16850420061113 | CHICAGO - Eddie Bauer Holdings Inc. EBHI.O, a clothing and accessories retailer, said on Monday it had accepted a $286 million cash takeover bid from two private equity firms, becoming the latest in a long line of retailers choosing to go private. | A company owned by affiliates of Sun Capital Partners Inc. and Golden Gate Capital will pay stockholders $9.25 per share, a 4.5 percent premium over Friday's closing Nasdaq price, and assume about $328 million in debt. The stock, which traded as high as $23.50 in December, was up 13 cents, or 1.5 percent, at $8.98 in ... | 16 |
DRAM demand for Q1 2007 "very strong": Samsung | [
"Jennifer Tan",
"Jean Yoon"
] | Mon Nov 13, 2006 7:56am EST | http://www.reuters.com/article/2006/11/13/us-samsung-idUSSP15805720061113 | SINGAPORE - Samsung Electronics Co. Ltd. ( 005930.KS ) forecast "very strong" demand for computer memory chips for the first quarter of 2007, thanks to the much-awaited January launch of Microsoft's new Vista operating system. | Chu Woo-Sik, senior vice president of investor relations, said Samsung would sell more mobile phones in January-March than in the current quarter, and its LCD business was performing better than expected in the current quarter. The world's top memory chip maker and biggest maker of large liquid crystal displays (LCD) ... | 17 |
Ex-KB Home chief reaped big riches in housing boom | [
"Martha Graybow"
] | Mon Nov 13, 2006 3:13pm EST | http://www.reuters.com/article/2006/11/13/us-construction-kb-salaries-idUSN136825220061113 | NEW YORK - The resignation of KB Home's ( KBH.N ) long-time chief over backdated stock options grants is focusing renewed attention on the big riches that home-building executives reaped in recent years. | Few people have ridden the housing wave as successfully as former KB Home CEO Bruce Karatz and other heads of publicly traded home builders, whose business exploded from late 2003 until the end of 2005 as consumers armed with low mortgages rushed to buy homes in hot markets. Since then, however, the sizzling housing m... | 18 |
Holiday sales seen modestly higher: survey | [
"Emily Kaiser"
] | Sun Nov 12, 2006 10:19pm EST | http://www.reuters.com/article/2006/11/13/us-retail-holiday-survey-idUSN1240663720061113 | CHICAGO - U.S. retailers will likely report modest sales growth this holiday season, with Wal-Mart Stores Inc. expected to be the top shopping destination, a survey conducted for Reuters this week shows. | The first in a series of holiday shopping polls by America's Research Group found that a surprisingly large 89 percent of respondents planned to shop at Wal-Mart this year, suggesting that the retailer's aggressive price cuts will succeed in luring more customers. Based on a random survey of 1,000 adults, conducted We... | 19 |
Berkshire cuts Ameriprise stake to 6 percent | [
""
] | Mon Nov 13, 2006 5:08pm EST | http://www.reuters.com/article/2006/11/13/us-financial-berkshire-ameriprise-idUSN1322880920061113 | NEW YORK - Warren Buffett's Berkshire Hathaway Inc. has lowered its stake in financial planning company Ameriprise Financial Inc. ( AMP.N ) to 6 percent from 9.8 percent in March, a Monday regulatory filing showed. | Berkshire and its subsidiaries owned 14.72 million shares of Minneapolis-based Ameriprise as of October 31, down from 23.92 million shares as of March 29, according to the filing. Ameriprise spokesman Paul Johnson declined to comment. American Express Co. ( AXP.N ), the credit card and travel services company, spun of... | 20 |
Russia rejects expansion of Chevron oil link: paper | [
""
] | Mon Nov 13, 2006 4:52am EST | http://www.reuters.com/article/2006/11/13/us-energy-russia-cpc-idUSL2383628420061113 | MOSCOW - Russia's Energy Ministry has rejected a plan to expand the capacity of a Chevron-led oil pipeline from Kazakhstan to the Black Sea, Kommersant business daily said on Monday. | The paper said shareholders in the Caspian Pipeline Consortium (CPC) had proposed adding $2.5 to the current pipeline transit fee of $27.38 per tonne of oil to get Russia's agreement on a long-awaited expansion of the link. The consortium wants to almost double capacity from 700,000 barrels per day (bpd) to 1.3 millio... | 21 |
Freescale shareholders approve sale of company | [
""
] | Mon Nov 13, 2006 10:25am EST | http://www.reuters.com/article/2006/11/13/us-freescale-sale-idUSWEN968920061113 | BOSTON - Chip maker Freescale Semiconductor Inc. ( FSL.N ) said on Monday that its shareholders have approved the company's $17.6 billion sale to a group of private equity firms led by Blackstone Group. | Shareholders will be entitled to receive $40 per share upon closing of the deal, which could be the biggest-ever leveraged buyout of a technology company. The number of shares voted in favor of the sale represent about 73 percent of the company's voting shares. Freescale said it expects the deal to close in the fourth... | 22 |
Bank of America speeds up free online trading | [
""
] | Mon Nov 13, 2006 2:12pm EST | http://www.reuters.com/article/2006/11/13/us-financial-bankofamerica-trades-idUSN1317696020061113 | NEW YORK - Bank of America Corp. ( BAC.N ), whose introduction of free online stock trading last month roiled the brokerage industry,, on Monday expanded the program to seven mid-Atlantic and Southeast states, and said it is speeding up the program's nationwide introduction. | The program lets investors make up to 30 free online equity trades per month through Banc of America Investment Services Inc. if they deposit at least $25,000 in Bank of America accounts. It is intended to encourage people to do more business at the No. 2 U.S. bank, which operates more than 5,700 branches. Bank of Ame... | 23 |
Oil falls $1 on U.S. warmth, OPEC cut doubts | [
""
] | Mon Nov 13, 2006 3:34pm EST | http://www.reuters.com/article/2006/11/13/us-markets-oil-idUSSP24738420061113 | NEW YORK - Oil prices fell $1 to below $59 on Monday as mild weather in the United States kept a lid on heating demand and dealers continued to doubt OPEC's ability to deliver on its agreed crude production cut. | "There are growing concerns about the lack of OPEC compliance," said Bill O'Grady, analyst at A.G. Edwards. "If OPEC isn't cutting back as much as it says it is, it will be hard for prices to stay afloat." U.S. crude CLc1 settled down $1.01 to $58.58 after falling as low as $58.25, while London Brent crude LCOc1 fell ... | 24 |
Sony's PS3 has problems running PS, PS2 games | [
""
] | Mon Nov 13, 2006 6:41pm EST | http://www.reuters.com/article/2006/11/13/us-sony-ps-idUSSP13653820061113 | TOKYO - Sony Corp.'s ( 6758.T ) new PlayStation 3 game console has problems when playing about 200 software games from previous versions of the machine, the Sankei daily reported on Tuesday. Sony started selling the latest version of its blockbuster game console in Japan on Saturday, and video game magazine publisher ... | The PS3 should be able to load and run games designed for earlier PlayStation models, but the paper said some sound and screen problems have been reported when these games were played on the new console. Officials at Sony's game division were not immediately available for comment. Sony is going up against Microsoft Co... | 25 |
Illumina to buy Solexa for $600 million in stock | [
""
] | Mon Nov 13, 2006 9:24am EST | http://www.reuters.com/article/2006/11/13/us-illumina-solexa-idUSWEN965920061113 | NEW YORK - Gene-testing technology company Illumina Inc. ( ILMN.O ) will acquire Solexa Inc. SLXA.O in a stock deal valuing the developer of genetic analysis systems at about $600 million, the companies said on Monday. | Solexa's stockholders will receive shares of Illumina valued at $14 per Solexa share. Solexa shares closed at $9.70 on Friday on the Nasdaq, resulting in a 44 percent premium for the deal. In addition, Illumina has agreed to invest $50 million in Solexa in exchange for newly issued Solexa shares. Shares of Illumina we... | 26 |
EU to start MasterCard closed hearing on Tuesday | [
"David Lawsky"
] | Mon Nov 13, 2006 3:32pm EST | http://www.reuters.com/article/2006/11/13/us-financial-eu-mastercard-idUSL1310567420061113 | BRUSSELS - MasterCard ( MA.N ) faces EU antitrust scrutiny this week over fees it charges shops to accept its credit and debit cards as part of a 1.3 trillion euro ($1.67 trillion) annual turnover. | The European Commission alleges the company restricted competition by setting minimum prices retailers must pay, and will open two days of closed hearings starting on Tuesday. The Commission is considering abolishing controversial and complex interbank fees charged by MasterCard, which can differ card by card. The pro... | 27 |
Tyson Foods posts another loss, but sees 07 profits | [
"ob Burgdorfer"
] | Mon Nov 13, 2006 3:09pm EST | http://www.reuters.com/article/2006/11/13/us-food-tyson-earns-idUSWEN967420061113 | CHICAGO - Top U.S. meat producer Tyson Foods Inc. ( TSN.N ) posted its third consecutive quarterly loss on Monday, hurt by an oversupply of meat and by one-time charges, but predicted a profitable current quarter and fiscal year, sending its shares higher. | "The best thing I can say about fiscal 2006 is, it's over," Chief Executive Richard Bond said in a statement. Tyson is the nation's No. 1 producer of beef and chicken and No. 2 producer of pork. An excess of meat and higher prices for feed and fuel have hurt Tyson and other producers. To restore profits, Tyson this ye... | 28 |
Hess, BHP Billiton, Repsol to buy Anadarko site | [
""
] | Mon Nov 13, 2006 7:55am EST | http://www.reuters.com/article/2006/11/13/us-energy-hess-idUSWEN966620061113 | NEW YORK - Hess Corp ( HES.N ), BHP Billiton ( BHP.AX ) and Repsol YPF ( REP.MC ) have joined forces to buy an oil and gas development from Anadarko Petroleum Co. ( APC.N ) for $1.35 billion, Hess said on Monday. | Hess said the companies will buy the Genghis Khan development, located in Green Canyon blocks 652 and 608 in the Gulf of Mexico. The development has estimated gross hydrocarbon reserves of 65 million to 170 million barrels of oil equivalent, it said. BHP Billiton will own a 44 percent stake and operate the site, while... | 29 |
Gannett, Greenberg pursuing Tribune: reports | [
""
] | Mon Nov 13, 2006 2:26am EST | http://www.reuters.com/article/2006/11/13/us-media-tribune-idUSN1244127320061113 | NEW YORK - Gannett Co. Inc., the largest U.S. newspaper company, is pursuing a bid for rival Tribune Co. , while Maurice Greenberg, the former chairman of the insurance giant American International Group, has also expressed interest in the company, according to media reports. | After putting in a bid for the whole company, Gannett executives visited Tribune's Chicago headquarters to hear management's presentations, the Chicago Tribune and Los Angeles Times -- both Tribune papers -- reported over the weekend. The Wall Street Journal also reported the meeting in its online edition on Sunday. T... | 30 |
Daimler's Mercedes enjoys monthly sales record in March | [
""
] | Fri Apr 5, 2013 7:41am EDT | http://www.reuters.com/article/2013/04/05/us-daimler-mercedes-sales-idUSBRE9340DF20130405 | FRANKFURT - Solid volume growth in its new range of compact cars helped propel sales of Daimler's ( DAIGn.DE ) Mercedes-Benz brand upwards to 139,920 vehicles, its single highest monthly tally ever. | "We again topped the strong result of the previous year and have posted the best month in our company's history to date. We have never sold as many vehicles in a single month," Mercedes sales chief Joachim Schmidt said in a statement on Friday. Thanks to the 6.5 percent increase last month, Mercedes marked a new recor... | 31 |
Exclusive: UBS was mystery lender for Thai group's Ping An deal - sources | [
"Denny Thomas",
"Michael Flaherty",
"Elzio Barreto"
] | Fri Apr 5, 2013 7:00am EDT | http://www.reuters.com/article/2013/04/05/us-cp-ubs-idUSBRE93403N20130405 | HONG KONG - The mystery lender behind a Thai billionaire's $9.4 billion purchase of a stake in China's No.2 insurer was UBS, which offered the region's fourth largest bridge loan ever and a complex financing package known to only a few involved, people with knowledge of the matter told Reuters. | The Swiss bank's financial backing for the biggest foreign purchase of Chinese stock explains how a Thai conglomerate scraped together $7.4 billion in cash for the deal's final payment, after its main lender backed out at the 11th hour. The rescue role the bank played in CP Group's acquisition of HSBC's 15.6 percent s... | 32 |
"Green" car maker Fisker fires 75 percent of workforce | [
"Deepa Seetharaman"
] | Fri Apr 5, 2013 6:03pm EDT | http://www.reuters.com/article/2013/04/05/us-autos-fisker-layoffs-idUSBRE9340U920130405 | DETROIT - Fisker Automotive, the struggling government-backed hybrid sports car maker, on Friday terminated most of its rank-and-file employees in what sources said was a last-ditch effort to conserve cash and stave off a potential bankruptcy filing. | Fisker, which raised $1.2 billion from investors and tapped nearly $200 million in government loans, has "at least" $30 million in cash on hand, according to a source familiar with the company's finances. About 160 workers were fired at a Friday morning meeting at Fisker's Anaheim, California, headquarters, according ... | 33 |
Ex-broker for Merrill, Deutsche Bank told to pay investor $11 million | [
"Suzanne Barlyn"
] | Fri Apr 5, 2013 4:29pm EDT | http://www.reuters.com/article/2013/04/05/us-finra-arbitration-broker-idUSBRE9340VU20130405 | - U.S. securities arbitrators ordered a former employee of Merrill Lynch, Deutsche Bank and Oppenheimer & Co to pay nearly $11 million to an investor who alleged the broker misrepresented securities and made excessive trades. | The investor's case against former broker Karl Hahn stems from transactions involving covered calls, a variable annuity and other investments, according to a ruling by a Financial Industry Regulatory Authority (FINRA) arbitration panel. The investor, Chase Bailey, filed the case in 2011, also naming Bank of America Co... | 34 |
Instant View: March nonfarm payrolls rose by 88,000 | [
""
] | Fri Apr 5, 2013 8:56am EDT | http://www.reuters.com/article/2013/04/05/us-usa-economy-instant-idUSBRE9340F920130405 | NEW YORK - American employers hired at the slowest pace in nine months in March, a sign that Washington's austerity drive could be stealing momentum from the economy. | The economy added just 88,000 jobs last month and the jobless rate ticked a tenth of a point lower to 7.6 percent largely due to people dropping out of the work force, Labor Department data showed on Friday. Analysts polled by Reuters had expected a gain of 200,000. KEY POINTS: February data has been revised to 268,00... | 35 |
S&P posts 2013's worst weekly drop on jobs data | [
"Caroline Valetkevitch"
] | Fri Apr 5, 2013 4:52pm EDT | http://www.reuters.com/article/2013/04/05/us-markets-stocks-idUSBRE93006T20130405 | NEW YORK - Stocks ended their worst week this year with losses on Friday after a weaker-than-expected jobs report undermined confidence in the economy and first-quarter earnings growth. | The jobs data, which showed employers hired at the slowest pace in nine months, was the latest in a series of disappointing economic reports. Companies begin to report quarterly earnings next week, which is likely to be another concern for investors in light of recent economic data. Analysts' estimates for earnings gr... | 36 |
Bankruptcy judge approves MF Global's liquidation plan | [
"Nick Brown"
] | Fri Apr 5, 2013 1:06pm EDT | http://www.reuters.com/article/2013/04/05/us-mfglobal-bankruptcy-court-idUSBRE9340N420130405 | NEW YORK - MF Global on Friday won court approval of a plan to liquidate its assets, pay back creditors and end the $40 billion bankruptcy that rocked the financial world in 2011. | The commodities brokerage, run by former New Jersey Governor Jon Corzine, collapsed after investors were spooked by its exposure to about $6.3 billion in European sovereign debt. The approval marked a major step in ending the massive Chapter 11 filing, as MF Global is now able to implement the plan and pay creditors. ... | 37 |
Hedge fund manager Ackman says mistakes made in JCPenney turnaround | [
"Katya Wachtel",
"Svea Herbst-Bayliss"
] | Fri Apr 5, 2013 3:52pm EDT | http://www.reuters.com/article/2013/04/05/us-hedgefunds-ackman-jcpenney-idUSBRE9340MS20130405 | BOSTON - Hedge fund manager William Ackman said that Ron Johnson, the chief executive he handpicked to turn around JC Penney, has made "big mistakes" and the impact on the struggling retailer has been "very close to a disaster." | The "criticism is deserved," Ackman said on Friday of Johnson, a former Apple executive who has come under fire for his dramatic plans to overhaul the staid retailer with cost cuts, more fashionable merchandise and a new pricing strategy. The stock price has plummeted 27.6 percent in the first quarter as Johnson's pla... | 38 |
Weak job gains hurt economic outlook | [
"Jason Lange"
] | Fri Apr 5, 2013 6:36pm EDT | http://www.reuters.com/article/2013/04/05/us-usa-economy-jobless-idUSBRE9330HH20130405 | WASHINGTON - American employers hired at the weakest pace in nine months in March, a sign tax hikes that kicked in early this year as part of Washington's austerity drive could be stealing momentum from the economy. | Payrolls expanded by just 88,000 last month outside the farming sector, the Labor Department said on Friday. That was well below market expectations for a 200,000 increase and fell short of even the most pessimistic forecast in a Reuters poll. The jobless rate ticked a tenth of a point lower to 7.6 percent largely due... | 39 |
Analysis: No Plan B in Japanese central bank's new playbook | [
"Leika Kihara"
] | Fri Apr 5, 2013 3:56am EDT | http://www.reuters.com/article/2013/04/05/us-japan-economy-boj-idUSBRE93216U20130405 | TOKYO - The Bank of Japan's decision to fire one big shot in its fight to end deflation is a clear signal new Governor Haruhiko Kuroda is not one for constant tinkering with settings, and it will take something big for him to load up his policy cannon again. | The Japanese central bank unleashed the world's most intense burst of monetary stimulus at Kuroda's first rate review on Thursday, promising to inject about $1.4 trillion into the economy in less than two years in a radical gamble that sent the yen reeling and bond yields to record lows. The BOJ has not ruled out more... | 40 |
Factbox: Boeing's path to placing 787 back in service | [
""
] | Fri Apr 5, 2013 2:08pm EDT | http://www.reuters.com/article/2013/04/05/us-boeing-dreamliner-steps-idUSBRE9340LV20130405 | - Boeing Co ( BA.N ) is conducting ground and flight tests of its 787 Dreamliner with a revamped lithium-ion battery system in an effort to get the jets flying again after all 50 were grounded in mid-January following two separate battery incidents. | Japanese airlines All Nippon Airways ( 9202.T ) and Japan Airlines ( 9201.T ) are the two biggest Dreamliner customers. ANA, the launch customer, will be the first to have its jets fixed. Here are the steps that Boeing, aviation authorities and the airlines are expected to go through before the aircraft can return to ... | 41 |
Fisker Automotive fires most rank-and-file employees | [
"Deepa Seetharaman"
] | Fri Apr 5, 2013 1:27pm EDT | http://www.reuters.com/article/2013/04/05/us-autos-fisker-layoffs-idUSBRE9340LW20130405 | DETROIT - Fisker Automotive, the struggling, government-backed hybrid sports car maker, terminated most of its rank-and-file employees on Friday, in a last-ditch effort to conserve cash and stave off a potential bankruptcy filing, sources said. | In a statement, Fisker confirmed that it let go about 75 percent of its workforce. The automaker said it was "a necessary strategic step in our efforts to maximize the value of Fisker's core assets." A Fisker representative could not immediately answer questions on the company's financial position. In the past, the au... | 42 |
BOJ's Kuroda: monetary onslaught won't cause asset bubbles | [
"Stanley White",
"Leika Kihara"
] | Fri Apr 5, 2013 12:58am EDT | http://www.reuters.com/article/2013/04/05/us-japan-economy-idUSBRE93403U20130405 | TOKYO - Bank of Japan Governor Haruhiko Kuroda played down concerns his unprecedented burst of monetary stimulus would create asset-price bubbles even as it delivered an immediate pay-off in global markets, with government bond yields at a record low, the yen hitting a 3-1/2 year trough and stocks surging to multi-yea... | The yen weakened past 97 per dollar on Friday for the first time since August 2009, a day after the BOJ vowed to inject about $1.4 trillion into the economy in less than two years in a dose of shock therapy to end two decades of deflation. The Nikkei share average jumped as much as 4.7 percent, extending Thursday's 2.... | 43 |
UK lawmakers call for ban on former bosses for HBOS failure | [
"Matt Scuffham"
] | Fri Apr 5, 2013 9:09am EDT | http://www.reuters.com/article/2013/04/05/us-banks-hbos-idUSBRE93409X20130405 | LONDON - Bailed-out British lender HBOS was so badly run it would have failed even without the 2008 financial crisis and the regulator should consider banning its former bosses from the industry, UK lawmakers said in a damning report. | The Parliamentary Commission on Banking Standards, tasked with finding ways to reform UK banks, said HBOS was an "accident waiting to happen", with bad lending and losses across the business likely to have led to its insolvency even without the funding and liquidity problems of the financial crisis. The committee said... | 44 |
Ruling against BP clears way for appeal of spill payouts | [
"Kathy Finn"
] | Fri Apr 5, 2013 3:39pm EDT | http://www.reuters.com/article/2013/04/05/us-bp-spill-payouts-idUSBRE9340O420130405 | NEW ORLEANS - A U.S. judge's ruling Friday against BP Plc ( BP.L ) means the company can proceed with its appeal of the way a court-appointed administrator apportions payments for claims related to the 2010 Gulf of Mexico oil spill, some of which BP called "absurd." | Federal District Judge Carl Barbier said he found no reason to reverse his decision last month to uphold the payout process. This was despite BP's protest at payouts including $21 million for a Louisiana rice mill 40 miles from the coast which earned more revenue in 2010 than in any of the previous three years. The he... | 45 |
Discouraged job seekers behind shrinking labor force | [
"Lucia Mutikani"
] | Fri Apr 5, 2013 6:58pm EDT | http://www.reuters.com/article/2013/04/05/us-usa-economy-participation-idUSBRE9340WL20130405 | WASHINGTON - Americans giving up the hunt for jobs were likely behind a sharp drop in the U.S. workforce last month, a bad sign for an economy that is struggling to achieve a faster growth pace. | The number of working-age Americans counted as part of the labor force -- either with a job or looking for one -- tumbled by 496,000 in March, the biggest fall since December 2009, the Labor Department said on Friday. That pushed the so-called workforce participation rate to a 34-year low of 63.3 percent. March marked... | 46 |
U.S. visa program for skilled workers hits limit | [
""
] | Fri Apr 5, 2013 5:39pm EDT | http://www.reuters.com/article/2013/04/05/us-usa-immigration-visas-idUSBRE9340X720130405 | WASHINGTON - A popular U.S. visa program for skilled workers has hit its quota just days into the application period, the U.S. Citizenship and Immigration Service said, triggering a lottery and signaling that companies feel confident enough about the economy to hire more foreign workers. | The H-1B program has not reached its base cap of 65,000 so quickly since early 2008, before the economic crisis hit. That was the last time a lottery was used, according to USCIS. A separate H-1B allocation for masters and PhD graduates from U.S. universities has also hit its quota of 20,000 visas, USCIS said. After F... | 47 |
HP shakeup points to more "shareholder friendly" board | [
""
] | Fri Apr 5, 2013 3:13pm EDT | http://www.reuters.com/article/2013/04/05/us-hp-chairman-idUSBRE93312U20130405 | - Wall Street's psycho-analysis of Hewlett-Packard's latest board room shuffle has begun. | The stepping-down of Hewlett-Packard Co Chairman Ray Lane and appointment of activist investor Ralph Whitworth as his interim replacement has raised hopes for a more "shareholder friendly" board at the flailing PC maker. But investors aren't buying it just yet, and HP shares fell more than 2 percent in morning trading... | 48 |
Exclusive: Buyout firms eye Yankee Candle in $2 billion deal - sources | [
"Soyoung Kim",
"Greg Roumeliotis"
] | Fri Apr 5, 2013 10:18am EDT | http://www.reuters.com/article/2013/04/05/us-yankeecandle-idUSBRE9340H320130405 | - Yankee Candle Co Inc has attracted offers from several private equity firms in a sale process that could value the largest scented candle maker in the United States at about $2 billion, people familiar with the matter said. | Bain Capital LLC, Advent International Corp, CVC Capital Partners Ltd CVC.UL, Clayton, Dubilier & Rice LLC and Ares Management LLC have made it through the first round of bidding and are set to meet with Yankee Candle's management over the next few weeks, the sources said. Madison Dearborn Partners LLC MDPRT.UL, anoth... | 49 |
HP chairman resigns after shareholder vote | [
""
] | Fri Apr 5, 2013 3:42am EDT | http://www.reuters.com/article/2013/04/05/us-hp-lane-idUSBRE93315H20130405 | - Hewlett-Packard Chairman and Silicon Valley venture capitalist Ray Lane said on Thursday that he had decided to step down after reflecting on the shareholder vote and to reduce distractions. | Lane won 58.88 percent of shareholder votes, which was announced during the company's annual meeting last month. (Reporting by Poornima Gupta ) | 50 |
Wary French shoppers drag down Feb euro zone sales | [
"Ethan Bilby"
] | Fri Apr 5, 2013 7:03am EDT | http://www.reuters.com/article/2013/04/05/us-eurozone-retail-idUSBRE9340BW20130405 | BRUSSELS - Trade in euro zone shops was weaker than expected in February, raising doubts about how quickly the euro zone can recover from recession. | The retail trade volume for the 17 countries using the euro fell 0.3 percent month-on-month, data from the EU statistics office Eurostat showed on Friday. Economists polled by Reuters had forecast a fall of 0.2 percent month on month. The statistics office also revised down January's retail trade volume to a monthly r... | 51 |
Cyprus currency decree eases restrictions on bank transfers | [
""
] | Fri Apr 5, 2013 2:15pm EDT | http://www.reuters.com/article/2013/04/05/us-cyprus-decree-idUSBRE9340SA20130405 | NICOSIA - Cyprus partially relaxed currency controls imposed to prevent a run on its banks, issuing a decree on Friday permitting companies to make cash transfers between banks. | Companies could transfer up to 10,000 euros ($13,000) per month from one bank account to another, and the limit for individuals was 2,000 euros, the finance ministry said in a statement. Other restrictions, including a 300 euro per day cash withdrawal limit from banks, and a vetting process for payments of more than 2... | 52 |
Watchdog did not have timely Bank of Cyprus data on Greek debt: report | [
"Michele Kambas"
] | Fri Apr 5, 2013 2:15pm EDT | http://www.reuters.com/article/2013/04/05/us-cyprus-banks-report-idUSBRE9340RW20130405 | NICOSIA - Regulators asked Cyprus's largest bank to provide information about its ultimately disastrous holdings of Greek debt as long as three years ago but got no immediate response and did not follow up, an external investigation said. | A report seen by Reuters said that the recent investigation was hampered by "unnecessary delays" in getting documentation from commercial Bank of Cyprus BOC.CY - one of the banks at the center of Cyprus's international bailout - and that some computers at the bank may have been wiped. A Bank of Cyprus (BOC) spokesman ... | 53 |
UK lawmakers call for ban on former bosses for HBOS failure | [
"Matt Scuffham"
] | Fri Apr 5, 2013 10:57am EDT | http://www.reuters.com/article/2013/04/05/us-banks-hbos-idUSBRE9340KP20130405 | LONDON - Bailed-out British bank HBOS was so badly run it would have failed even without the 2008 financial crisis and the regulator should consider banning its former bosses from the industry, UK lawmakers said in a report. | The Parliamentary Commission on Banking Standards, tasked with finding ways to reform UK banks, said HBOS was an "accident waiting to happen", with bad lending and losses across the business likely to have led to its insolvency even without the funding and liquidity problems of the financial crisis. HBOS, Britain's bi... | 54 |
MF Global bankruptcy exit plan primed for court hearing | [
"Nick Brown"
] | Thu Apr 4, 2013 9:23pm EDT | http://www.reuters.com/article/2013/04/05/us-mfglobal-payout-idUSBRE93401S20130405 | NEW YORK - MF Global Holdings MFGLQ.PK on Friday will seek court approval of a plan to liquidate its assets and repay creditors, signaling the final stages of its large and politically-charged bankruptcy. | The collapsed brokerage would repay the bulk of lender JPMorgan Chase & Co's ( JPM.N ) claim, and would pay unsecured creditors as much as 34 cents on the dollar under a plan slated to go before Judge Martin Glenn in the U.S. Bankruptcy Court in Manhattan. MF Global, led by former New Jersey Gov. Jon Corzine, filed fo... | 55 |
GM, Opel CEOs to meet German leader Merkel | [
""
] | Fri Apr 5, 2013 9:33am EDT | http://www.reuters.com/article/2013/04/05/us-gm-germany-idUSBRE9340HO20130405 | BERLIN - The chief executive of General Motors ( GM.N ) and the head of its Opel unit in Germany will meet Chancellor Angela Merkel next week to discuss the rejection of a plant closure timetable by workers which could speed the factory's shutdown. | With job losses looming at Opel's Bochum plant and against a background of European car sales in freefall, government spokesman Georg Streiter said Dan Akerson and Karl-Thomas Neumann will have a one-hour session with Merkel in Berlin on Thursday. Merkel is seeking a third term as chancellor in September. Her re-elect... | 56 |
Exclusive: SocGen mulls up to 700 job cuts - union sources | [
"Matthias Blamont",
"Lionel Laurent"
] | Fri Apr 5, 2013 1:04pm EDT | http://www.reuters.com/article/2013/04/05/us-socgen-jobs-idUSBRE9340P620130405 | PARIS - French bank Societe Generale ( SOGN.PA ) may cut between 600 and 700 jobs as part of a broader cost-cutting drive in the face of stagnant growth in its home market, three union sources told Reuters on Friday. | SocGen management met with unions on Wednesday to discuss the proposals, which have not yet been finalized, the sources said. The cuts, which will largely target back office staff in IT and compliance roles, will be partly offset by up to 100 new jobs created elsewhere, they added. "There will be 600 to 700 job cuts a... | 57 |
AB InBev, Justice Department are near an agreement in beer deal | [
"Diane Bartz"
] | Fri Apr 5, 2013 6:33pm EDT | http://www.reuters.com/article/2013/04/05/us-grupomodelo-abinbev-antitrust-idUSBRE9340YI20130405 | WASHINGTON - Anheuser-Busch InBev ( ABI.BR ) and the U.S. Justice Department have reached an agreement for a framework to settle their long-running beer brawl, and asked a court to extend a stay in the court fight until April 23, the two sides said in a court filing on Friday. | The Justice Department filed a lawsuit on January 31 aimed at stopping AB InBev, the world's largest brewer with some 200 brands, from buying the 50 percent of Grupo Modelo ( GMODELOC.MX ) it does not already own for $20.1 billion, saying the deal could mean higher U.S. beer prices. That battle may soon be over. "At t... | 58 |
U.S. trade deficit narrows in February as crude oil imports drop | [
""
] | Fri Apr 5, 2013 9:00am EDT | http://www.reuters.com/article/2013/04/05/us-trade-deficit-idUSBRE9340EU20130405 | WASHINGTON - The U.S. trade gap narrowed unexpectedly in February as crude oil imports fell to their lowest level since March 1996 and overall exports increased slightly, a Commerce Department report on Friday showed. | The deficit narrowed to $43.0 billion, from an unrevised $44.5 billion in January. The consensus estimate of Wall Street analysts surveyed before the report was for the trade gap to widen slightly to $44.6 billion. The lower-than-expected deficit could prompt analysts to raise their estimates of first-quarter U.S. eco... | 59 |
U.S. to press Europe on rebalancing economic demand: official | [
"Anna Yukhananov"
] | Fri Apr 5, 2013 12:14pm EDT | http://www.reuters.com/article/2013/04/05/us-usa-treasury-europe-idUSBRE9340LK20130405 | WASHINGTON - U.S. Treasury Secretary Jack Lew will discuss ways Europe can rebalance its demand to help grow the economy during a trip to the continent next week, a senior U.S. official said on Friday. | "What is very clear is that overall we're seeing very weak demand in Europe and rising levels of unemployment," a senior U.S. Treasury official said on a call briefing reporters about the trip. "There is clearly some capacity for demand rebalancing in the euro area. ... Of course there is greater room for the surplus ... | 60 |
Boeing completes 787 Dreamliner test flight for battery fix | [
""
] | Fri Apr 5, 2013 3:44pm EDT | http://www.reuters.com/article/2013/04/05/us-boeing-testflightlanding-idUSBRE9340UM20130405 | NEW YORK - Boeing completed a test flight on Friday of its 787 Dreamliner jet, part of a regimen of tests aimed at certifying a reworked system to prevent fire or overheating of the plane's lithium-ion batteries. | The flight lasted about 1 hour and 50 minutes, landing at 12:28 pm Pacific Time (1928 GMT), according to Boeing. Data from the flight, which had Federal Aviation Administration officials aboard, will be submitted to the FAA, which will decide whether to approve the plane for flight. The 787 was grounded by regulators ... | 61 |
GM and Opel CEOs to meet German leader Merkel on Thursday | [
""
] | Fri Apr 5, 2013 6:39am EDT | http://www.reuters.com/article/2013/04/05/us-gm-germany-idUSBRE9340AL20130405 | BERLIN - General Motors ( GM.N ) CEO Dan Akerson and the new head of GM's Opel unit will visit Chancellor Angela Merkel next Thursday, along with members of the GM board, a German government spokesman said on Friday. | Akerson and Opel's chief executive Karl-Thomas Neumann will visit Merkel in Berlin on Thursday at 3 p.m. (10 a.m. ET) for an hour, said government spokesman Georg Streiter, adding that the meeting coincided with a meeting of the GM board in Germany. Last month employees at Opel's Bochum plant in western Germany reject... | 62 |
Germany says confident France will meet deficit obligations | [
""
] | Fri Apr 5, 2013 7:03am EDT | http://www.reuters.com/article/2013/04/05/us-france-deficit-germany-idUSBRE9340AH20130405 | BERLIN - Germany is confident France will stick to European Union rules on targets to cut its public deficit, a German finance ministry spokesman said on Friday, a day after Paris urged Berlin to grant it more time to hit the goal. | "There are rules in the EU that apply for all. It's mostly down to the EU Commission to evaluate how to proceed further. Then the members of the EU council will look at it," said Martin Kotthaus, spokesman for Germany's finance ministry. "We have full confidence that France will fulfill its treaty obligations." France... | 63 |
Boeing finishes 787 testing, focus shifts to regulators | [
"Tim Hepher",
"Alwyn Scott"
] | Fri Apr 5, 2013 7:55pm EDT | http://www.reuters.com/article/2013/04/05/us-boeing-dreamliner-idUSBRE9340WD20130405 | NEW YORK - With a successful flight on Friday, Boeing moved closer to proving that a revamped safety system can prevent batteries on its new 787 Dreamliner from catching fire or overheating, and getting back the plane into service. | Friday's test flight concludes testing after little more than three weeks, and moves the Dreamliner closer to resuming passenger flights, restarting jet deliveries, and stemming millions of dollars in losses that have piled up at airlines and Boeing since the jet was grounded more than two months ago. The end of testi... | 64 |
Stocks, dollar fall on weak U.S. jobs data | [
"Wanfeng Zhou"
] | Fri Apr 5, 2013 4:44pm EDT | http://www.reuters.com/article/2013/04/05/us-markets-global-idUSBRE88901C20130405 | NEW YORK - Major stock markets tumbled and the dollar fell on Friday, after a weaker-than-expected jobs report added to fears the U.S. economic recovery may be losing steam, driving a bid for safety that boosted prices of U.S. Treasury securities and gold | Brent crude oil fell to an eight-month low as the bleak U.S. jobs data dimmed the outlook for fuel demand in the world's largest oil consumer. U.S. employers hired at the slowest pace in nine months in March, adding just 88,000 nonfarm jobs, the Labor Department said, below an expected 200,000. The jobless rate ticked... | 65 |
Exclusive: Former News Corp President Chernin bids $500 million for Hulu | [
"Jennifer Saba",
"Ronald Grover"
] | Fri Apr 5, 2013 7:55pm EDT | http://www.reuters.com/article/2013/04/05/us-hulu-chernin-idUSBRE9340YD20130405 | LOS ANGELES/NEW YORK - Former News Corp president Peter Chernin has bid around $500 million for Hulu, the online video streaming service he helped create in 2007, according to two sources with knowledge of Hulu's sale process. | The website, jointly controlled by News Corp and Walt Disney Co, reached out to potential buyers in March after initially contemplating a deal in which one would buy out the other. It is not clear whether that transaction is still being contemplated. Chernin, a former Hulu board member who now runs a media holding com... | 66 |
Labor "scarring" reason for more bond buying: Fed official | [
"Jonathan Spicer"
] | Fri Apr 5, 2013 9:22am EDT | http://www.reuters.com/article/2013/04/05/us-usa-fed-rosengren-idUSBRE9340E920130405 | - The Federal Reserve should continue buying bonds through this year due to a "scarring" of the labor market, and even more aggressive policies may be warranted if unemployment remains persistently high, a top Fed official said on Friday. | As Boston Fed President Eric Rosengren took to the podium to give a speech on the pain caused by high rates of unemployment, fresh data showed employers added a very disappointing 88,000 jobs last month, the slowest hiring pace since last summer. The U.S. unemployment rate ticked down to 7.6 percent from 7.7 percent i... | 67 |
Exclusive: Disney to begin layoffs in studio, consumer products - sources | [
"Ronald Grover"
] | Thu Apr 4, 2013 9:58pm EDT | http://www.reuters.com/article/2013/04/05/us-disney-layoffs-idUSBRE93401H20130405 | LOS ANGELES - Walt Disney Co expects to begin layoffs at its studio and consumer product divisions within the next two weeks, according to two people with knowledge of the matter, in the latest cost-reduction step to emerge from a company-wide review. | The studio job cuts will center on the marketing and home video units and include a small number from the animation wing, said the sources, who spoke on condition of anonymity because the plans had not been made public. It is unknown how many jobs will be lost at either division. Staff reductions at the consumer produ... | 68 |
Analysis: Big inflows into bonds undercut the "Great Rotation" | [
"Jennifer Ablan"
] | Fri Apr 5, 2013 12:14am EDT | http://www.reuters.com/article/2013/04/05/us-investing-bondflows-rotation-idUSBRE93403G20130405 | - Fears of a rush for the exits from the U.S. bond market have been greatly exaggerated. | Even as the fixed-income sector grapples with a rare negative start to the year, many of the biggest and widely followed bond firms are still attracting new cash to their flagship funds. And it is not expected to stop any time soon. "I think the demand is there because many investors, especially mom-and-pop investors,... | 69 |
ECB's Coeure sees euro zone inflation straying off course | [
""
] | Fri Apr 5, 2013 5:09am EDT | http://www.reuters.com/article/2013/04/05/us-eurozone-ecb-coeure-idUSBRE93406820130405 | PARIS - The European Central Bank will monitor euro zone inflation carefully over the next 18 months as it threatens to sink further below the ECB's 2 percent target, Executive Board member Benoit Coeure said on Friday. | Euro zone inflation slipped in March for a third straight month to an annual rate of 1.7 percent, compared to the ECB's goal of close to, but not above, 2 percent. "We have a rate of inflation which looks set to move away from the ECB's 2 percent target over the next 18 months," Coeure told reporters at a breakfast ev... | 70 |
Judge approves BofA $2.43 billion settlement over Merrill | [
"ernard Vaughan"
] | Fri Apr 5, 2013 5:14pm EDT | http://www.reuters.com/article/2013/04/05/us-bofa-lawsuit-settlement-idUSBRE9340VB20130405 | NEW YORK - Bank of America Corp ( BAC.N ) on Friday won a federal judge's approval for a $2.43 billion settlement with investors who said the lender hid crucial information when it bought Merrill Lynch & Co. | The accord, among the largest investor settlements stemming from the recent global financial crisis, was approved by U.S. District Judge Kevin Castel in Manhattan. Castel called the settlement "fair, reasonable and adequate," and said it culminated an "extraordinarily hard-fought litigation." Bank of America had agree... | 71 |
Boeing has "good" 787 battery plan fix: official | [
""
] | Fri Apr 5, 2013 2:08pm EDT | http://www.reuters.com/article/2013/04/05/us-boeing-dreamliner-lahood-idUSBRE9340LN20130405 | WASHINGTON - Boeing Co ( BA.N ) has a "good plan" to fix the battery problem that has grounded its 787 Dreamliner jets, U.S. Transportation Secretary Ray LaHood said on Friday as the company prepared for a test flight to check the battery system revamp. | LaHood said he wants to ensure the Dreamliner is safe before allowing the planes back in the air, and no decision had been made on commercial flights. Airlines that operate the plane expect it could be flying again as early as April or May. "They're doing the tests now, and we've agreed with the tests that they're doi... | 72 |
Boeing sets final 787 Dreamliner test flight for Friday | [
""
] | Fri Apr 5, 2013 1:22pm EDT | http://www.reuters.com/article/2013/04/05/us-boeing-testflight-idUSBRE9340PZ20130405 | NEW YORK - Boeing Co ( BA.N ) said it plans to make a test flight later on Friday with its 787 Dreamliner jet, aimed at returning the grounded plane to service after more than two months on the ground. | Boeing said the flight is scheduled to depart around 11 a.m. PDT (2 p.m. ET) and last about two hours. The time is subject to change, it said. The flight would gather data for the Federal Aviation Administration to help show that a new battery system on the plane is safe from the risk of fire or overheating. (Reportin... | 73 |
Adelson testifies middleman "couldn't deliver" in Macau | [
"Sue Zeidler"
] | Fri Apr 5, 2013 2:02am EDT | http://www.reuters.com/article/2013/04/05/us-lasvegassands-adelson-testimony-idUSBRE93405A20130405 | LAS VEGAS - Las Vegas Sands ( LVS.N ) Chairman and CEO Sheldon Adelson said on Thursday a Hong Kong businessman claiming in a lawsuit that he is owed $328 million didn't help the gaming company get permission from the Macau government to operate a casino there. | Richard Suen alleges the Las Vegas company stiffed him on an agreed upon "success fee" for helping secure a permit for a hotel and casino in Macau, a Chinese special administrative territory that has become the world's most lucrative gambling mecca. "He couldn't deliver and he wanted to keep his fingers in the pie," t... | 74 |
BizJet officers charged with bribing Latin American officials | [
"Nick Brown"
] | Fri Apr 5, 2013 7:58pm EDT | http://www.reuters.com/article/2013/04/05/us-bizjet-charges-idUSBRE93410820130405 | - Two officers of a Lufthansa ( LHAG.DE ) subsidiary were indicted in Oklahoma on charges of bribing foreign officials to secure aircraft maintenance contracts, while two others pleaded guilty to related criminal charges, the U.S. Department of Justice announced. | The charges, unsealed on Friday, were filed in January of 2012 against four directors of BizJet International Sales & Support, a U.S.-based unit of Lufthansa that provides aircraft maintenance, after a joint probe by the DOJ and FBI. The men are accused of offering "hundreds of thousands of dollars" in bribes to Latin... | 75 |
Ex-Thomson Reuters employee sues over survey distribution | [
"Jonathan Stempel"
] | Fri Apr 5, 2013 10:38am EDT | http://www.reuters.com/article/2013/04/05/us-thomsonreuters-lawsuit-idUSBRE9340IW20130405 | - A former Thomson Reuters Corp employee has filed a lawsuit saying he was fired for telling the Federal Bureau of Investigation that he believed the company violated insider-trading laws in releasing a consumer sentiment survey early to some subscribers. | In the lawsuit, filed on Wednesday in Manhattan federal court, Mark Rosenblum said he was terminated after telling U.S. authorities that the Thomson Reuters/University of Michigan Surveys of Consumers was released at different times to different subscribers. "We believe the accusations from the complainant against Tho... | 76 |
Exclusive: Some wealth advisers take a fee for client fund assets | [
"Jed Horowitz"
] | Fri Apr 5, 2013 12:54pm EDT | http://www.reuters.com/article/2013/04/05/us-ria-fees-idUSBRE9340GI20130405 | - At least three wealth management firms that market themselves as objective financial advisers are getting payments for investing their clients' money in certain mutual funds, a practice that even some of these firms say could create conflicts of interest. | The firms, known as registered investment advisers, are typically paid by clients with fees tied to the growth or contraction of client assets, and not to specific products. But Fidelity Investments and Charles Schwab Corp are paying these financial advisers as much as 0.25 percent of the assets that their clients put... | 77 |
UBS loses bid to dismiss FHFA mortgage debt lawsuit | [
"ernard Vaughan"
] | Fri Apr 5, 2013 1:25pm EDT | http://www.reuters.com/article/2013/04/05/us-fhfa-lawsuits-idUSBRE92Q19G20130405 | NEW YORK - A federal appeals court rejected UBS AG's ( UBSN.VX ) bid to dismiss a U.S. regulator's lawsuit seeking to hold the Swiss bank responsible for losses on mortgage securities at Fannie Mae ( FNMA.OB ) and Freddie Mac ( FMCC.OB ). | The 2nd U.S. Circuit Court of Appeals said the Federal Housing Finance Agency did not wait too long to sue UBS over the $6.4 billion of mortgage securities that Fannie Mae and Freddie Mac bought. It also rejected UBS' contention that the FHFA lacked standing to sue. Friday's decision is a victory for the FHFA and coul... | 78 |
Monster ex-general counsel settles SEC case | [
""
] | Thu Apr 5, 2007 5:24pm EDT | http://www.reuters.com/article/2007/04/05/us-monster-counsel-sec-idUSN0522751820070405 | NEW YORK - Monster Worldwide Inc. ( MNST.O ) ex-general counsel Myron Olesnyckyj has settled civil fraud charges related to the company's stock options backdating case, the Securities and Exchange Commission said on Thursday. | Olesnyckyj, 45, has been suspended from practicing before the SEC as an attorney as part of the settlement, the regulator said. Olesnyckyj settled without admitting or denying the charges. | 79 |
CVC group tables bid for Sainsbury: paper | [
""
] | Thu Apr 5, 2007 10:41am EDT | http://www.reuters.com/article/2007/04/05/us-sainsbury-cvc-timesonline-idUSL0521804920070405 | LONDON - A group of private equity firms led by CVC Capital has tabled an indicative offer of about 9.5 billion pounds ($18.75 billion) for UK supermarket chain J. Sainsbury ( SBRY.L ), the online edition of the Times newspaper reported on Thursday. | The Web site headline "CVC tables preliminary offer for J. Sainsbury" initially linked to a story saying that the bid was expected to be filed today with the headline "J. Sainsbury bid closer as KKR pulls out". It later updated the story to say the private equity group had approached Sainsbury with an indicative offer... | 80 |
New Century granted $150 mln bankruptcy financing | [
""
] | Thu Apr 5, 2007 2:35pm EDT | http://www.reuters.com/article/2007/04/05/us-newcentury-idUSN0525021620070405 | NEW YORK - New Century Financial Corp. ( NEWC.PK ), the largest U.S. subprime lender under bankruptcy protection, was on Thursday authorized to obtain up to $150 million of financing to keep it operating while in Chapter 11. | U.S. Bankruptcy Judge Kevin Carey issued a temporary order granting the so-called debtor-in-possession financing, a court filing shows. The judge set a final hearing for April 24. Irvine, California-based New Century had lined up financing commitments from CIT Group Inc. ( CIT.N ) and Royal Bank of Scotland Group Plc'... | 81 |
CVS, Rite Aid same-store sales trail Walgreen | [
"Jessica Wohl"
] | Thu Apr 5, 2007 2:25pm EDT | http://www.reuters.com/article/2007/04/05/us-drugstore-sales-idUSN0520116420070405 | CHICAGO - Drugstore chains CVS/Caremark Corp. ( CVS.N ) and Rite Aid Corp. ( RAD.N ) said on Thursday that sales at stores open at least a year rose in March, but their results trailed growth by rival Walgreen Co. ( WAG.N ), posted earlier this week. | Shares of all three companies advanced in afternoon trading, with Rite Aid showing the largest gain, up 1 percent. CVS posted a 7 percent rise in March sales at stores open at least a year. Total revenue for the five weeks ended March 31 jumped 23.3 percent to $4.8 billion, excluding results from pharmacy benefits man... | 82 |
Defense in Black trial slams witness on payments | [
"Andrew Stern"
] | Thu Apr 5, 2007 5:18pm EDT | http://www.reuters.com/article/2007/04/05/us-black-trial-refiling-idUSN0522965820070405 | CHICAGO - Some of the payments at the center of Conrad Black's criminal fraud trial were reported to U.S. government regulators in a timely fashion and not hidden as prosecutors have suggested, jurors were told on Thursday. | Under cross examination, Fred Creasey, a former comptroller at Black's Canadian holding company Hollinger Inc., was shown a document bearing his name by defense lawyer Patrick Tuite. Creasey had testified on Wednesday that some of the money paid to Black and his associates from newspaper property sales in 2000 did not... | 83 |
Take-Two says SEC launches formal options probe | [
""
] | Thu Apr 5, 2007 10:10am EDT | http://www.reuters.com/article/2007/04/05/us-taketwo-investigation-idUSN0543184120070405 | NEW YORK - Take-Two Interactive Software Inc. ( TTWO.O ), whose management was replaced last week in a boardroom takeover, said it received a formal order of investigation by the U.S. Securities and Exchange Commission over its past stock-options grants practices. | The publisher of the popular "Grand Theft Auto" video game series said in a filing with the SEC late on Wednesday that the formal order allows regulators to subpoena witnesses regarding the stock-options practices of the company, its directors, officers or employees. Take-Two has said a review of its past options gran... | 84 |
Pilot union wants to reopen airline contracts | [
""
] | Thu Apr 5, 2007 11:27am EDT | http://www.reuters.com/article/2007/04/05/us-pilots-contracts-idUSN0517428820070405 | WASHINGTON - The nation's largest pilot union said on Thursday it would seek to reopen contracts to roll back bankruptcy concessions at UAL Corp.'s UAUA.O United Airlines and other U.S. carriers. | John Prater, president of the Air Line Pilots Association, said pilots gave back an enormous amount to help airlines restructure and want their share now that industry profits are returning. The International Air Transport Association this week projected 2007 profits for U.S. airlines of $4.4 billion after factoring f... | 85 |
WCI board says Icahn's offer not best for company | [
""
] | Thu Apr 5, 2007 6:06pm EDT | http://www.reuters.com/article/2007/04/05/us-wcicommunities-idUSWEN618920070405 | NEW YORK - WCI Communities Inc. WCI.N said on Thursday its board determined a $22-per-share buyout offer from billionaire Carl Icahn is not best for the company or its shareholders and recommended stockholders not tender shares. | "We reached this conclusion after carefully considering the tender offer price and terms, as well as the advice of our financial and legal advisors," Don Ackerman, chairman of WCI, which builds upscale houses and condominiums chiefly in Florida. | 86 |
Qualcomm seeks arbitration on Nokia license dispute | [
""
] | Thu Apr 5, 2007 2:26pm EDT | http://www.reuters.com/article/2007/04/05/us-qualcomm-license-nokia-idUSWNAS576820070405 | - Qualcomm Inc. ( QCOM.O ) said it filed an arbitration demand against Nokia ( NOK.N ) ( NOK1V.HE ) to resolve a dispute over their license agreement. | Qualcomm sought Nokia's continued use of its patents in CDMA cellular handsets after April 9 to be treated as an election by Nokia to extend its license under their existing agreement, the company said in a statement. Nokia's claim that it has been paying cumulative royalties of no more than 3 percent on WCDMA product... | 87 |
Constellation Brands profit tops view; shares rise | [
""
] | Thu Apr 5, 2007 10:30am EDT | http://www.reuters.com/article/2007/04/05/us-constellation-results-idUSWEN615120070405 | NEW YORK - Constellation Brands Inc. ( STZ.N ) posted a quarterly profit that topped estimates on Thursday, as a lower-than-expected tax rate offset a decline in operating margin due to higher material costs and pricing pressure in Britain's wine market. | The owner of Robert Mondavi, Vendage and Ravenswood wines, whose shares rose 3 percent in morning trading, said its comparable tax rate for the fourth quarter was 32.9 percent versus 24.8 percent a year ago. Analysts said that rate was lower than expected and added 2 to 3 cents to earnings. Fairport, New York-based Co... | 88 |
Sears securitizes its brand names: BusinessWeek | [
""
] | Thu Apr 5, 2007 7:41pm EDT | http://www.reuters.com/article/2007/04/05/us-searsholdings-brandnames-idUSN0523890220070405 | NEW YORK - Sears Holdings Corp. ( SHLD.O ) has created $1.8 billion worth of securities based on its most famous brand names: Kenmore, Craftsman and Die Hard, BusinessWeek magazine said in its latest issue on Thursday. | Sears had transferred ownership of the brands to an insurance subsidiary of the retailer last May, protecting them from any bankruptcy proceeding, BusinessWeek said, citing documents and sources familiar with the securitization. The deal represents the biggest securitization of intellectual property in history, said t... | 89 |
Harrah's shareholders approve takeover | [
""
] | Thu Apr 5, 2007 4:09pm EDT | http://www.reuters.com/article/2007/04/05/us-harrahs-shareholders-idUSWEN617920070405 | PHILADELPHIA - Harrah's Entertainment Inc. HET.N, the world's largest casino operator, said on Thursday that a majority of its shareholders approved the planned $17.1 billion takeover by two private equity firms. | Based upon a preliminary tally of shares voted, 66 percent of total shares outstanding supported the deal. Harrah's expects the deal to be completed by the end of the year, pending regulatory approvals. In December, Texas Pacific Group TPG.UL and Apollo Management L.P. agreed to buy Harrah's for $90 per share. | 90 |
Nintendo 06/07 sales, profit beat forecasts on DS | [
"Kiyoshi Takenaka"
] | Thu Apr 5, 2007 8:29am EDT | http://www.reuters.com/article/2007/04/05/us-nintendo-earnings-idUST24101820070405 | TOKYO - Japanese video game maker Nintendo Co. 7974.OS raised its sales and profit forecasts for the fourth time on Thursday for the business year just ended, thanks to robust demand for its DS handheld games, sending its shares higher. | Nintendo's strategy to broaden the overall game-playing population paid off handsomely with the DS as well as its new game console, the Wii, proving a smashing success. Both the DS and Wii focus on intuitive, easy-to-play games. The company said sales totaled about 966 billion yen ($8.1 billion) for the year ended Mar... | 91 |
Lehman enters Qatar to expand Middle East push | [
""
] | Thu Apr 5, 2007 2:45am EDT | http://www.reuters.com/article/2007/04/05/us-lehman-qatar-idUSL0565067620070405 | LONDON - U.S. bank Lehman Brothers Holdings Inc. LEH.N has been granted a license to operate in Qatar, where it plans to expand its Middle East business after it moved into Dubai last year. | The bank said on Thursday it had established a strategic relationship with the Qatar Investment Authority to seek ways to invest globally. Lehman also said it continues to seek other opportunities in the region, which is attracting rapid banking interest to handle more than $2 trillion of investable assets. It plans t... | 92 |
Cemex approval paves way for next Rinker move | [
""
] | Thu Apr 5, 2007 6:56am EDT | http://www.reuters.com/article/2007/04/05/us-rinker-cemex-usa-idUSN0439779420070405 | SYDNEY/WASHINGTON - Mexico's Cemex SA ( CMXCPO.MX ) received conditional approval from U.S. authorities for its $12 billion bid for Australia's Rinker Group Ltd. RIN.AX, paving the way for Cemex to make its next move in the drawn-out takeover battle. | The U.S. Justice Department said on Wednesday it would require Cemex to sell 39 U.S. facilities if it is successful in a bid for the Australian building materials maker. Analysts say Cemex will have to increase its offer -- Australia's second-largest takeover bid -- to win over Rinker shareholders, but it had not been... | 93 |
Darden Restaurants sales mixed in March | [
""
] | Thu Apr 5, 2007 8:07am EDT | http://www.reuters.com/article/2007/04/05/us-dardenrestaurants-sales-idUSN0540442420070405 | NEW YORK - Darden Restaurants Inc. ( DRI.N ) said on Thursday that same-store sales at its Olive Garden restaurants rose 3 percent to 4 percent in March, while same-store sales at Red Lobster fell about 3 percent. | Olive Garden restaurants open at least 16 months -- a key industry sales-tracking measure -- benefited from pricing and higher guest traffic during the five-week March fiscal month, the Orlando, Florida-based company said. Sales at Darden's Red Lobster chain fell as higher menu prices failed to offset a 5 percent drop... | 94 |
Gap to offer limited-edition designer collection | [
""
] | Thu Apr 5, 2007 11:07am EDT | http://www.reuters.com/article/2007/04/05/us-gap-idUSN0545141720070405 | NEW YORK - Gap Inc. ( GPS.N ) said on Thursday that it would introduce a limited-edition collection of women's clothing made exclusively for its stores by design labels Doo.Ri, Rodarte and Thakoon. | The Gap Design Editions collection, which features clothing inspired by a classic Gap white shirt, will be available starting April 17. Gap is trying to pull itself out of a sales slump, hurt by what it has acknowledged were fashions lacking creativity and marketing that has confused, rather than inspired, shoppers. O... | 95 |
KKR confirms dropped out of Sainsbury bidding | [
"Rachel S",
"erson",
"Jeffrey Goldfarb"
] | Thu Apr 5, 2007 2:06pm EDT | http://www.reuters.com/article/2007/04/05/us-sainsbury-bid-idUSL0536500720070405 | LONDON - Kohlberg Kravis Roberts has dropped out of the group bidding for J. Sainsbury ( SBRY.L ), it confirmed on Thursday, as the British retailer declined to comment on reports it had received a buyout offer. | The Times newspaper's Web site reported Sainsbury, Britain's third largest supermarket group, was reviewing a takeover bid by the remaining trio of private equity firms led by CVC Capital CVC.UL of around 9.5 billion pounds ($19 billion). Sainsbury had no plans to issue a statement on Thursday, a person familiar with ... | 96 |
Wal-Mart expands personal well-being programs | [
""
] | Thu Apr 5, 2007 7:27am EDT | http://www.reuters.com/article/2007/04/05/us-walmart-projects-idUSN0541516120070405 | NEW YORK - Wal-Mart Stores Inc. ( WMT.N ) on Thursday said it was expanding its employee-established effort on "Personal Sustainability Projects." | PSPs are worker-driven efforts through which employees develop individual goals to improve their health and the environment. The projects include workers making healthier food choices, volunteering in their communities and using environmentally friendly products in their homes. Staff will also work together at a store... | 97 |
U.S. cable TV group withdraws from eBay ad system | [
""
] | Thu Apr 5, 2007 5:46pm EDT | http://www.reuters.com/article/2007/04/05/us-ebay-advertising-idUSN0522343520070405 | NEW YORK - A key U.S. cable TV trade group said on Thursday it would withdraw from an online advertising exchange proposed by eBay Inc. ( EBAY.O ), dealing a blow to the Web company's plans to build a system to sell ad time. | The Cabletelevision Advertising Bureau (CAB), which represents networks like Discovery, Lifetime and ESPN, said pulling out of the system was the best decision for the industry and its advertisers. Some of the top marketers had backed eBay's Online Media Exchange, including Home Depot Inc. ( HD.N ) and Toyota Motor Co... | 98 |
Kerkorian offers $4.5 billion to buy Chrysler | [
"Poornima Gupta"
] | Thu Apr 5, 2007 7:10pm EDT | http://www.reuters.com/article/2007/04/05/us-daimlerchrysler-idUSN0519442020070405 | DETROIT - Billionaire investor Kirk Kerkorian, almost 10 years after his failed first attempt to buy Chrysler, reentered the fray on Thursday and offered to pay $4.5 billion to buy the struggling automaker from DaimlerChrysler, which paid almost $40 billion for it in 1998. | The 89-year-old Kerkorian, once Chrysler's largest shareholder, said in a letter from his investment company Tracinda Corp. to DaimlerChrysler that the offer is contingent on Chrysler working out a favorable labor contract with the United Auto Workers union. It was the first publicly disclosed bid for Chrysler and sen... | 99 |
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