| | |
| CA-BUSINESS Summary Tuesday, Apr 23, 2013 09:24 PM PDT TSX steady as lackluster data, earnings drag TORONTO (Reuters) - Canada's main stock index closed little changed on Tuesday as sluggish economic data from China, Germany and the United States revived concerns about the global recovery. Lackluster earnings reports from some Canadian companies also weighed down investor sentiment. Apple unlocks more cash for investors as profit slides SAN FRANCISCO (Reuters) - Apple Inc on Tuesday bowed to investors' demands to share more of its $145 billion cash pile, while posting its first quarterly profit decline in more than a decade. ... Full Story | Top |
| Apple unlocks more cash for investors as profit slides Tuesday, Apr 23, 2013 09:24 PM PDT  By Poornima Gupta SAN FRANCISCO (Reuters) - Apple Inc on Tuesday bowed to investors' demands to share more of its $145 billion cash pile, while posting its first quarterly profit decline in more than a decade. The new expanded capital plan includes issuing debt for the first time to fund $100 billion in share repurchases and higher dividends until the end of 2015. That doubles the amount from a program set up last year and makes Apple the largest dividend-paying company in the world. The company's shares, which last week closed below $400 for the first time since December 2011, rose briefly. ... Full Story | Top |
| Consumer bureau calls payday loans a trap, warns of new rules Tuesday, Apr 23, 2013 09:21 PM PDT WASHINGTON (Reuters) - The U.S. consumer watchdog said high-cost, short-term loans often trap borrowers in a cycle of debt, warning in a report on Wednesday that new rules could be on the way for payday lenders and banks making similar loans. The Consumer Financial Protection Bureau said many lenders make small-dollar loans without looking into whether borrowers can afford to pay them back. The loans carry high fees and must be repaid quickly, which can lead consumers to take out multiple short-term loans, the bureau said. ... Full Story | Top |
| Government loan to Fisker to be scrutinized in congressional hearing Tuesday, Apr 23, 2013 09:15 PM PDT  By Deepa Seetharaman and Paul Lienert DETROIT (Reuters) - The U.S. Department of Energy's (DOE) 2009 decision to grant Fisker Automotive a $529 million loan will be heavily scrutinized on Wednesday during a congressional hearing that is being held as the automaker verges on collapse. Among the key questions is whether Fisker's prospects were strong enough at the start to warrant the DOE's backing, which helped trigger a flood of private financing for Fisker. Fisker's failure to make a payment on the DOE loan Monday is the latest of its troubles. ... Full Story | Top |
| States' tax revenue likely grew at beginning of year: report Tuesday, Apr 23, 2013 09:03 PM PDT WASHINGTON (Reuters) - U.S. states' tax revenue likely continued growing in the second quarter of 2013, according to preliminary estimates for January and February that were released on Wednesday. The Rockefeller Institute of Government, an independent research group in Albany, New York, said revenue in 45 states grew 12.9 percent in January and February compared with the first two months of 2012. Personal income tax collections likely were up 23.6 percent and sales tax collections up 8.3 percent, according to the preliminary data. ... Full Story | Top |
| Apple's cash plan takes heat off Cook, buys him time Tuesday, Apr 23, 2013 08:18 PM PDT  By Poornima Gupta and Ben Berkowitz (Reuters) - Tim Cook wants investors to "think different" about Apple: less as a hyper-growth startup-like company and more as a mature but robust technology corporation with the world's most lucrative dividend. If Wall Street follows Apple's famous advertising slogan of old, it may relieve some of the pressure on Apple's chief executive, quiet investors' grumbling about its recent share price slide, and buy the company time to do what it says it does best: come up with and market new products. ... Full Story | Top |
| Wall Street jumps after recovery from Twitter-led drop Tuesday, Apr 23, 2013 06:27 PM PDT  By Chuck Mikolajczak NEW YORK (Reuters) - Stocks climbed on Tuesday in a broad rally, recovering from sharp declines sparked by a "bogus" Associated Press tweet about explosions at the White House. A false tweet by hackers of two explosions at the White House that injured U.S. President Barack Obama provoked a steep drop in stocks, before they quickly recovered minutes later. Thomson Reuters data showed the benchmark S&P 500 index fell 14.6 points, or 0.93 percent, in the space of 3 minutes when the tweet hit the market. With the S&P 500 valued at about $14. ... Full Story | Top |
| Lloyds' sale of bank branches to Co-op collapses - report Tuesday, Apr 23, 2013 05:52 PM PDT  (Reuters) - Lloyds Banking Group's planned sale of over 600 bank branches to the Co-operative Group has collapsed after the latter decided it could not proceed with the 750-million-pound deal, the Financial Times reported on Wednesday, citing two people familiar with the situation. The deal was meant to lift the Co-op's share of Britain's bank branch network to 10 percent from less than 4 percent and equip it to take on the country's "Big Four" lenders - HSBC, Barclays Royal Bank of Scotland and Lloyds itself. Both Lloyds and the Co-op were unavailable to comment on the report. ... Full Story | Top |
| Former Reuters editor pleads not guilty in Anonymous hacking case Tuesday, Apr 23, 2013 05:06 PM PDT  SACRAMENTO (Reuters) - Former Reuters.com Deputy Social Media Editor Matthew Keys pleaded not guilty on Tuesday to federal charges that he aided members of the Anonymous hacking collective. Keys, 26, on Monday said he was fired by Thomson Reuters , the parent company of Reuters News. Keys was indicted in March by a federal grand jury in Sacramento on three criminal counts, alleging he entered an Internet chatroom used by members of the hacking collective Anonymous and helped hackers gain access to the computer system of Tribune Co. in December 2010. ... Full Story | Top |
| Hackers send fake market-moving AP tweet on White House explosions Tuesday, Apr 23, 2013 04:01 PM PDT  By Alina Selyukh WASHINGTON (Reuters) - Hackers took control of the Associated Press Twitter account on Tuesday and sent a false tweet about explosions in the White House that briefly sent U.S. financial markets reeling. In the latest high-profile hacking incident involving social media service Twitter, an official @AP account reported that two explosions at the White House injured President Barack Obama. AP spokesman Paul Colford quickly confirmed the tweet was "bogus," and White House spokesman Jay Carney told reporters that Obama was fine, just minutes after the tweet hit a little after 1 ... Full Story | Top |
| Colombia's Sura, Scotiabank buy BBVA Peru fund for $516 million Tuesday, Apr 23, 2013 03:55 PM PDT By Omar Mariluz and Nelson Bocanegra LIMA/BOGOTA (Reuters) - Colombian financial group Sura and Bank of Nova Scotia said on Tuesday they bought the Peruvian pension fund BBVA Horizonte for a total of $516 million. Each company paid around $258 million for a 50-percent stake in Horizonte, the companies said. Horizonte has about $9 billion in assets under management. Horizonte has a 23.5 percent share of all deposits in Peru's private pension fund system. It operates as an arm of BBVA Continental, one of Peru's top banks owned by Peru's Grupo Brescia and Spain's BBVA . ... Full Story | Top |
| Dewey ex-chairman agrees to proposed settlement to resolve claims Tuesday, Apr 23, 2013 03:53 PM PDT By Casey Sullivan (Reuters) - The former chairman of Dewey & LeBoeuf has agreed to pay more than half a million dollars in a proposed settlement with Dewey's trustee and insurer to resolve claims that bad management led to the law firm's demise, according to papers filed in federal bankruptcy court. Former Dewey Chairman Steve Davis has agreed to pay $511,145 to settle claims that he mismanaged Dewey & LeBoeuf, which last May became the largest law firm in U.S. history to file for Chapter 11 bankruptcy. ... Full Story | Top |
| U.S. Mint suspends some gold coin sales after demand surge Tuesday, Apr 23, 2013 03:47 PM PDT NEW YORK (Reuters) - The U.S. Mint said it has suspended sales of its one-tenth ounce American Eagle gold bullion coins as surging demand after bullion's plunge to two-year lows depleted the government's inventory. This marks the first time it has stopped selling gold product since November 2009, dealers said. A spokesman for the Mint did not return calls seeking confirmation of that milestone. The U.S. Mint, one of the world's leading gold and silver coin producers, halts coin sales from time to time as it runs out of coin blanks to meet increases in demand. So far in April, the U.S. ... Full Story | Top |
| U.S. sues Novartis, alleging kickbacks to pharmacies Tuesday, Apr 23, 2013 03:41 PM PDT  By Bernard Vaughan and Jonathan Stempel (Reuters) - The U.S. government filed a civil fraud lawsuit against Novartis AG on Tuesday, accusing a unit of the Swiss drug maker of causing the Medicare and Medicaid programs to pay tens of millions of dollars in reimbursements based on fraudulent, kickback-tainted claims. U.S. ... Full Story | Top |
| Yum profit beats even as bird flu batters China sales Tuesday, Apr 23, 2013 03:32 PM PDT  (Reuters) - KFC parent Yum Brands Inc on Tuesday reported that quarterly profit fell less than Wall Street expected, despite a sharp drop in sales in its top China market, sending the company's shares up nearly 6 percent. The Louisville, Kentucky-based fast-food company also repeated its earnings forecast for the year, based on the better-than-expected first-quarter results. ... Full Story | Top |
|
No comments:
Post a Comment