Today's Reuters Business News Headlines - Yahoo! News:
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Asian shares capped by Spain, Greece debt jitters
Wed,26 Sep 2012 06:14 PM PDT
Reuters -  TOKYO (Reuters) - Asian shares were capped on Thursday as uncertainty over a bailout for Spain bailout dented sentiment, while global lenders' wrangling over Greek debt restructuring highlighted Europe's apparent difficulty to reach a unified approach to tackling its debt crisis. The MSCI index of Asia-Pacific shares outside Japan was nearly unchanged, after hitting its lowest point since September 14 on Wednesday. The index has almost wiped out all the gains made after markets rallied on the U.S. Federal Reserve's new QE3 job-boosting stimulus. Australian shares inched down 0. ...
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Analysis: Corporate America sweats as U.S. nears fiscal cliff
Wed,26 Sep 2012 05:58 PM PDT
Reuters -  BOSTON (Reuters) - Top U.S. executives have less confidence in the business outlook now than at any time in the past three years - and a key reason is fear of gridlock in Washington over the fiscal deficit and tax policy. The uncertainty, coupled with slowing demand in Asia and Europe, is forcing corporate leaders to postpone decisions on major investments and hiring, and hurting sales of everything from textbooks to telephone lines. ...
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Canadian Auto Workers union reaches Chrysler deal
Wed,26 Sep 2012 05:28 PM PDT
Reuters -  TORONTO (Reuters) - The Canadian Auto Workers union said on Wednesday it had reached a tentative labor contract with Fiat SpA's Chrysler Group LLC, the last of the Detroit Three automakers to agree to a new labor contract with its Canadian workers. Chrysler submitted a written proposal on Tuesday night that reignited the difficult talks, CAW National President Ken Lewenza said earlier on Wednesday. Ford Motor Co workers ratified their deal at the weekend, while General Motors Co employees vote on Wednesday and Thursday. ...
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Fiat sues Chrysler minority owner over 3.3 percent stake
Wed,26 Sep 2012 04:27 PM PDT
Reuters -  (Reuters) - Fiat SpA filed a lawsuit in a U.S. court against the healthcare trust that owns part of Chrysler Group LLC, claiming the trust failed to meet its obligation to sell a small stake in the U.S. automaker after the two sides disagreed on price. The Italian automaker wanted to pay $139.7 million (108 million euros) for the stake in Chrysler, a figure reached by using a formula set up when Chrysler emerged from bankruptcy in 2009, according to court documents filed on Wednesday. ...
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Analysis: Canada ruling Conservatives split over CNOOC's bid for Nexen
Wed,26 Sep 2012 04:13 PM PDT
Reuters - OTTAWA (Reuters) - Canada's ruling Conservative Party is split over a landmark $15.1 billion bid by China's CNOOC for oil producer Nexen, leaving Prime Minister Stephen Harper with a difficult final call to make. A green light, still viewed by many as likely, would allow China's biggest ever foreign takeover, extend China's foothold in Canada's crude-rich oil sands - an area with the biggest proven resources of energy outside Venezuela and Saudi Arabia - and help Beijing fulfill its drive for better access to energy resources to fuel the world's second-largest economy. ... Full Story | Top |
Europe's dimming prospects in spotlight at Paris auto show
Wed,26 Sep 2012 04:10 PM PDT
Reuters -  PARIS (Reuters) - As executives bemoan the worsening outlook for the European car market, they hope the no-frills small cars on display at the Paris auto show will lure customers in austerity-hit markets and premium limousines will attract buyers in China. Even the carmakers that had until recently been thriving, poaching market share from ailing competitors, are now feeling the pinch as austerity measures, high unemployment and fears about the future keep customers away from showrooms. ...
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Ex-Credit Suisse trader arrested in subprime case
Wed,26 Sep 2012 03:44 PM PDT
Reuters -  NEW YORK (Reuters) - A former senior Credit Suisse Group AG trader was arrested in London on Wednesday and faces extradition to the United States on fraud charges involving subprime mortgage bonds worth $3 billion. The arrest of Kareem Serageldin, former global head of structure credit trading for Credit Suisse, marks an apparent victory for U.S. prosecutors, who earlier this year won convictions against two of the his former colleagues. U.S. prosecutors have been waiting for nearly eight months for Serageldin, 39, to return to the country to face charges. ...
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Dean Foods says exploring Morningstar sale
Wed,26 Sep 2012 03:41 PM PDT
Reuters - NEW YORK (Reuters) - Dean Foods Co confirmed on Wednesday that it is weighing a sale of its Morningstar division, in a deal that could be worth more than $1 billion and lead to a break-up of the largest dairy company in the United States. The company said it recently decided to explore a transaction for Morningstar, the smallest of its three segments, as part of its goal to maximize shareholder value, confirming a Reuters report earlier on Wednesday that cited unnamed sources. The company's stock closed up 5. ... Full Story | Top |
Toyota cautiously aims to grow again in tough Europe
Wed,26 Sep 2012 03:06 PM PDT
Reuters -  PARIS (Reuters) - Toyota Motor Corp is cautious about pushing too hard for expansion in Europe where it is easy to lose money, but still aims to boost sales in the region by 10,000 or more vehicles in 2012 from 822,000 a year ago, executives said. The Japanese automaker plans to expand market share slightly to 4.5 percent from last year's 4.2 percent and bring that up to about 5 to 5.5 percent over the next five years, Didier Leroy, chief executive of Toyota Motor Europe, and Karl Schlicht, executive vice president, said on Wednesday. ...
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S&P 500 falls a fifth day as euro-zone tensions escalate
Wed,26 Sep 2012 02:29 PM PDT
Reuters -  NEW YORK (Reuters) - The S&P 500 fell for a fifth straight trading day on Wednesday as protests in Spain and Greece over euro zone austerity measures raised fresh concerns over Europe's ability to get its debt crisis under control. Investors sold risk-sensitive sectors such as energy and tech, while they poured money into more defensive areas like utilities and consumer staples. The S&P technology sector declined 0.8 percent and the energy sector fell 0.9 percent, while S&P utilities ended up 0.2 percent. ...
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Euro zone, oil drop, push TSX to 5th straight fall
Wed,26 Sep 2012 02:13 PM PDT
Reuters -  TORONTO (Reuters) - Canada's main stock index fell for a fifth straight session on Wednesday with energy shares leading the retreat as oil prices dropped and investors fretted about renewed tension in the euro zone. The resource-laden Toronto index has now given up all the gains it made after the U.S. Federal Reserve unveiled a major stimulus program earlier this month that buttressed a similar move from the European Central Bank. "Emotions are driving reactions in the marketplace," said Brian Pow, a research and equity analyst at Acumen Capital Partners in Calgary. ...
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Exclusive: EU regulators to suspend ICE, bank CDS probe - source
Wed,26 Sep 2012 02:02 PM PDT
Reuters -  BRUSSELS (Reuters) - EU regulators are set to suspend indefinitely an antitrust investigation into credit default swaps deals offered by clearing house ICE Clear Europe to nine banks, due to the lack of evidence, a European Commission source said on Wednesday. The EU watchdog's decision also took into account the entry of European clearing house LCH.Clearnet into the $28 trillion credit default swaps market, the source said. LCH. ...
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C$ hits 2-week low as euro zone efforts flounder
Wed,26 Sep 2012 01:56 PM PDT
Reuters - TORONTO (Reuters) - The Canadian dollar hit a two-week low against the U.S. currency on Wednesday, tracking weaker global stock and commodity markets, as worries over Spain's commitment to reform added to persistent unease over the global economic outlook. World shares fell and the euro slipped to a two-week low amid a second day of violent anti-austerity protests in Madrid and talk of secession by Spain's wealthy Catalonia region. Spanish Prime Minister Mariano Rajoy, who had been reluctant to ask for help, vowed that he is committed to fiscal and structural reforms. ... Full Story | Top |
French carmakers say European slump to take toll
Wed,26 Sep 2012 01:48 PM PDT
Reuters -  PARIS (Reuters) - The heads of France's main automakers issued grim warnings on the prolonged European market slump and its consequences as industry executives gathered for the Paris auto show. Renault slashed its market forecasts on Wednesday on the eve of the European auto industry's biggest event of the year and said its full-year vehicle sales goal was under pressure. PSA Peugeot Citroen Chief Executive Philippe Varin, who in July announced a factory closure and 8,000 additional job cuts, predicted that rivals would soon be forced to follow suit. ...
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Factbox: Fed officials' comments on economy, policy
Wed,26 Sep 2012 01:04 PM PDT
Reuters - (Reuters) - The U.S. Federal Reserve launched a new round of monetary stimulus this month, saying it will buy $40 billion in housing-backed bonds each month until the labor market improves substantially. The Fed has kept interest rates near zero since December 2008 and now says it expects weak economic conditions will warrant keeping them there through at least mid 2015, half a year longer than it had earlier expected. The following are recent comments from Fed policymakers. ... Full Story | Top |
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