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| Shoppers buy earlier this holiday season Saturday, Nov 24, 2012 04:31 PM PST  CHICAGO/SAN FRANCISCO (Reuters) - Online shopping has grown sharply so far this holiday shopping season after U.S. retailers pushed out a slew of mobile and Internet deals that lured consumers before Cyber Monday, traditionally the biggest day for e-commerce in America. While it remains to be seen if the gains over Thanksgiving Day and Black Friday can be sustained, the latest estimates show shoppers scooping up early special offers via their smart phones and tablets, the way they used to hunt for bargains in brick-and-mortar stores. Online sales increased 17.4 percent on Thanksgiving and 20. ... Full Story | Top |
| Black Friday sales down due to Thursday deals: ShopperTrak Saturday, Nov 24, 2012 03:50 PM PST (Reuters) - Black Friday holiday sales weakened from last year as a big promotional push by U.S. retailers on Thanksgiving Day sucked spending from what has traditionally been the biggest shopping day of the year, according to data released on Saturday. ShopperTrak, which counts foot traffic in retail stores, estimated Black Friday sales of $11.2 billion, down 1.8 percent from the same day last year. "More retailers than last year began their 'doorbuster' deals on Thursday, Thanksgiving itself," said ShopperTrak founder Bill Martin. ... Full Story | Top |
| Obama visits bookstore, promotes "Small Business Saturday" Saturday, Nov 24, 2012 12:43 PM PST  WASHINGTON (Reuters) - President Barack Obama, in a bid to show support for small businesses, took his daughters on an early Christmas shopping trip on Saturday as the U.S. retail sector swings into high gear this holiday season. Promoting "Small Business Saturday," the third annual event that encourages consumers to support independently-owned local shops, Obama took his daughters Sasha and Malia to "One More Page Books" in Arlington, Virginia, a suburb of Washington, D.C. ... Full Story | Top |
| Dubai plans massive tourism and retail project Saturday, Nov 24, 2012 11:34 AM PST DUBAI (Reuters) - Dubai announced plans for a huge tourism and retail development including the largest shopping mall in the world, a fresh sign that the glitzy emirate has recovered its commercial ambitions after a crippling corporate debt crisis three years ago. The development, on the outskirts of Dubai's current downtown area, will include a park 30 percent bigger than Hyde Park in London, said Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum, also prime minister of the United Arab Emirates. ... Full Story | Top |
| Knight in talks for market-making unit sale: sources Saturday, Nov 24, 2012 10:48 AM PST  (Reuters) - Knight Capital Group Inc is in talks about possibly selling its market-making operation, its largest and most profitable business, but it is not known if a deal will happen, a source said on Saturday. The securities firm has been approached by at least two rivals about its market-making operation, which uses complicated computer models to match buy and sell orders in stocks and options, another source familiar with the matter said. ... Full Story | Top |
| Deutsche Telekom sees huge synergies from MetroPCS deal: paper Saturday, Nov 24, 2012 07:07 AM PST  FRANKFURT (Reuters) - Germany's Deutsche Telekom AG expects the merger of its T-Mobile USA with MetroPCS Communications Inc will reap "several billions of euros" in synergies, Telekom chairman Ulrich Lehner told a German weekly magazine. "The position of Deutsche Telekom in the USA will improve markedly as a result," WirtschaftsWoche quoted Lehner as saying in a report to be published on Monday. T-Mobile USA and MetroPCS said last month that they wanted to merge their companies, creating a stronger number four on the U.S. wireless market. ... Full Story | Top |
| SFR to make fewer job cuts than expected: report Saturday, Nov 24, 2012 07:05 AM PST PARIS (Reuters) - French mobile operator SFR is planning to announce lower-than-expected job cuts on Wednesday, French daily Le Figaro reported on Saturday, citing an unidentified source close to the matter. The French daily said that instead of the 2,000-job cuts expected by unions in the summer the number would be "less than 1,000." A person close to SFR said the newspaper's estimate was realistic but declined to provide more details about the news to be made public at a workers' council meeting on Wednesday. SFR is seeking to make 500 million euros ($647. ... Full Story | Top |
| European banks urge one-year delay for Basel III rules Saturday, Nov 24, 2012 07:02 AM PST GUBBIO, Italy (Reuters) - European banks have asked the European Commission to postpone the introduction of tougher global bank capital rules by a year to 2014 after U.S. regulators delayed application of the new requirements. The new rules, known as Basel III, are the world's regulatory response to the 2007-09 financial crisis and would force banks to triple the amount of basic capital they hold in a bid to avoid future taxpayer bailouts. ... Full Story | Top |
| Sandy dampens mood for many Black Friday shoppers Saturday, Nov 24, 2012 06:36 AM PST  VALLEY STREAM, N.Y./BROOKLYN, New York (Reuters) - Malls across the United States teemed with shoppers looking for Black Friday bargains, but many in the New York area sat out the madness, too busy coping with the lingering effects of Superstorm Sandy. The Green Acres Mall in Valley Stream, New York, just a few miles from New York's JFK airport, is in a part of Long Island that was particularly devastated by the October 29 storm, which destroyed or severely damaged homes in many low-lying areas. ... Full Story | Top |
| Canada's third quarter GDP growth may fall sharply Saturday, Nov 24, 2012 06:22 AM PST TORONTO (Reuters) - Canada's economy likely expanded at a disappointing annualized rate of 0.9 percent in the third quarter, hurt by weaker demand for the country's exports and the drag of a rapidly cooling housing market. The median forecast in a Reuters survey of 25 analysts was less than the Bank of Canada's already modest 1 percent forecast and well below what is needed to absorb the economy's unused slack. Such a pace is likely to keep the central bank from raising interest rates anytime soon. Just last month, a Reuters poll showed analysts were expecting third quarter growth of 1. ... Full Story | Top |
| Software AG has 1 billion euro war chest for any acquisition: paper Saturday, Nov 24, 2012 05:42 AM PST FRANKFURT (Reuters) - German business software maker Software AG has the financial flexibility to make any acquisition worth up to 1 billion euros ($1.30 billion), a German weekly said on Saturday, citing finance director Arnd Zinnhardt. "We are so well positioned in terms of our operating activities and our balance sheet that we could theoretically pay for a big acquisition of up to 1 billion euros," he said. He does not rule out another acquisition next year, the report said. ... Full Story | Top |
| East Africa moves toward regional corporate bonds Saturday, Nov 24, 2012 03:16 AM PST CAPE TOWN (Reuters) - Regulators in five east African countries are working to allow companies to issue regional bonds for the first time, a crucial step to bring the area's capital markets closer. The east African bloc of 130 million people has been edging toward economic and political integration and in 2005 introduced a customs union that helped double intra-regional trade in five years. ... Full Story | Top |
| China's Wenzhou unveils reform plans as bad loans climb Friday, Nov 23, 2012 11:17 PM PST  BEIJING (Reuters) - China's entrepreneurial hub of Wenzhou has unveiled measures to turn grey-market lending into formal credit to support cash- starved small firms while reducing financial risks, state media reported on Saturday. Under the plans announced by the municipal government, the wealthy coastal city of Wenzhou, aims to channel private money into local businesses through formal institutions - mainly small credit firms, the official Securities Times said, citing officials. ... Full Story | Top |
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