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ECB faces test of its own as Europe braces for landmark banking review

Breaking Business News - Sat, 10/25/2014 - 23:18
FRANKFURT (Reuters) - After putting the euro zone's top 130 banks through their paces, the European Central Bank will face a test of its own on Sunday - will its landmark health check succeed in convincing investors the region's lenders are safe?

Deutsche Bank lawyer found dead by suicide in New York

Breaking Business News - Sat, 10/25/2014 - 12:38
BERLIN (Reuters) - A senior Deutsche Bank regulatory lawyer has been found dead in New York after committing suicide, New York City officials said on Saturday.






Areva-Siemens raises claim to $4.4 billion over Finnish reactor delays

Breaking Business News - Sat, 10/25/2014 - 04:17
HELSINKI (Reuters) - The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO), TVO said late on Friday.

India's finance minister favors interest rate cut: paper

Breaking Business News - Sat, 10/25/2014 - 02:43
NEW DELHI (Reuters) - India's Finance Minister Arun Jaitley favors a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has signal it will not ease policy until it is confident of lower inflation.






China's auto market growth may halve to 7 percent this year: industry body head

Breaking Business News - Sat, 10/25/2014 - 02:31
SHANGHAI (Reuters) - Growth in China's auto market, the world's biggest, will halve to 7 percent this year weighed down by a slowing economy, the head of an industry body said on Saturday.

Port squeeze threatens US retailers' holiday stocking plans

Breaking Business News - Fri, 10/24/2014 - 23:53
CHICAGO/LOS ANGELES (Reuters) - A shortage of transportation equipment and possible labor disruptions at ​the Los Angeles/Long Beach port complex, ​the nation's busiest, is delaying shipping containers for up to three weeks, threatening timely delivery to retailers for the holiday season.






Sherr named executive editor of CNET

Talking Biz News - Fri, 10/24/2014 - 21:19
Ian Sherr has been named executive editor at CNET News, where he will oversee news coverage on the West Coast out of the company’s San Francisco headquarters. He most recently served as senior writer...

Look to energy names for global demand clues

Breaking Business News - Fri, 10/24/2014 - 21:02
NEW YORK (Reuters) - Slumping energy shares drove the recent U.S. stock market selloff more than any other major group, so investors are turning to next week's slate of earnings to see if the sector can pull itself out of the pit.

Wall St. boosted by earnings, S&P posts best week in nearly two years

Breaking Business News - Fri, 10/24/2014 - 18:45
NEW YORK (Reuters) - U.S. stocks closed out their best week in nearly two years on Friday, helped by earnings from Microsoft and Procter & Gamble and as concerns eased over the possible spread of Ebola in the United States.






Fannie Mae settles shareholder lawsuit for $170 million

Breaking Business News - Fri, 10/24/2014 - 18:32
NEW YORK (Reuters) - Fannie Mae has reached a $170 million settlement of a lawsuit accusing it of misleading shareholders about its finances, risk management and mortgage exposure before it was seized by the U.S. government during the 2008 financial crisis.






Exclusive: Ford to overhaul Lincoln brand, this time with big bucks

Breaking Business News - Fri, 10/24/2014 - 17:16
DETROIT (Reuters) - Ford Motor Co's new chief executive, Mark Fields, is giving the automaker's long-moribund Lincoln brand what his predecessor Alan Mulally never could: a little love and a lot of cash.

Ford's lower profit beats estimates; sales down on F-150 launch

Breaking Business News - Fri, 10/24/2014 - 17:15
DETROIT (Reuters) - Ford Motor Co on Friday reported a 34 percent drop in third-quarter profit, and revenue fell due to the cost of introducing the F-150 pickup truck.






Ex-Bank of New York Mellon employee pleads guilty to insider trading

Breaking Business News - Fri, 10/24/2014 - 16:46
NEW YORK (Reuters) - A former Bank of New York Mellon Corp employee on Friday pleaded guilty to insider trading based on tips from a former Merck & Co Inc employee about potential pharmaceutical mergers.






U.S. appeals court rules for GM over Spyker's Saab sale

Breaking Business News - Fri, 10/24/2014 - 16:15
(Reuters) - General Motors Co persuaded a federal appeals court to uphold the dismissal of a $3 billion lawsuit in which Spyker NV accused it of derailing a plan to sell the Swedish automaker Saab to a Chinese company.

25 European banks set to fail health checks: sources

Breaking Business News - Fri, 10/24/2014 - 15:27
FRANKFURT (Reuters) - A group of 25 banks have failed European health checks, while up to 10 of those continue to have a capital shortfall, two people familiar with the matter said on Friday, providing a snapshot of the health of the region's lenders.






Keenan, former CNBC and Fox Biz anchor, has died

Talking Biz News - Fri, 10/24/2014 - 14:37
Terry Keenan, who worked as an anchor at CNBC and Fox Business Network and who recently was writing a business column for the New York Post, has died at the age of 53, The...

Black Enterprise launching “Women of Power” TV show

Talking Biz News - Fri, 10/24/2014 - 14:33
Black Enterprise magazine will launch a new, 30-minute television show called “Women of Power” this weekend. The show will air every Sunday at 10:30 a.m. in most markets on cable channel TV One. Viewers...

P&G to exit Duracell battery business; quarterly sales dip

Breaking Business News - Fri, 10/24/2014 - 13:38
(Reuters) - Procter & Gamble Co on Friday said it would sell its Duracell battery business, probably through a split-off into a separate company, as it looks to focus on faster-growing brands.

Deutsche Bank braces for $1.3 billion in U.S., UK Libor fines: sources

Breaking Business News - Fri, 10/24/2014 - 13:10
FRANKFURT (Reuters) - Deutsche Bank is bracing to pay almost 1 billion euros ($1.3 billion) for Libor-related fines as it nears a deal with U.S. and UK authorities to settle allegations it attempted to manipulate the benchmark interest rate, two sources familiar with the matter said on Friday.

U.S. House panel to meet with safety regulators about Takata air bags next week

Breaking Business News - Fri, 10/24/2014 - 12:32
WASHINGTON/DETROIT (Reuters) - The U.S. House committee looking into the defective air bags made by Japanese supplier Takata Corp will hold an initial briefing with U.S. safety regulators next week to learn the details of the regional recalls affecting 10 automakers, a committee aide said on Friday.