Business News

  • 3 No-Brainer Stocks to Buy for Retirement

    Retirement investing is not what it used to be. The problem with the Federal Reserve's attempt to goose the economy is that it killed bond yields, forcing retired investors further out onto the risk curve, making it difficult to find safe stocks to buy.

  • Another Sears loss in the books, as iconic retailer looks 'set to sink'

    Sears on Thursday reported a wider third-quarter loss than the prior-year period, as revenue at the struggling department store chain continued to decline. q
  • Steel minister says not in favour of protectionist moves

    India's debt-laden steel industry should not take the government's protectionist measures for granted and need to raise their efficiency to compete with foreign companies, the country's steel minister told Reuters in an interview on Friday. "In my view (protectionist measures) should not be there even for a month, but I have to see the overall position of the industry," minister Chaudhary Birender Singh said in his office. Goutam Chakraborty, analyst at Emkay Global Financial Services in Mumbai, said Indian companies typically produce commodity-grade steel with lower returns and are less efficient than foreign companies producing high-end steel.

  • J. Crew makes preparations for possible debt restructuring: sources

    A debt restructuring would underscore the challenges the company has faced since it was acquired by private equity firms TPG Capital LP and Leonard Green & Partners LP in a $3 billion leveraged buyout in 2011. J. Crew has struggled as many shoppers have shunned malls and turned to internet shopping. As part of its preparations for negotiating with its creditors, J. Crew is planning to move the rights to its iconic brand into a separate subsidiary, the people said.

  • Ex-Cantor Fitzgerald mortgage bond trader indicted in U.S. for fraud

    David Demos, 35, was charged with securities fraud in an indictment filed in federal court in New Haven, Connecticut, becoming the latest trader to face charges for cheating customers on prices of mortgage-backed securities. Demos, of Westport, Connecticut, appeared in court on Friday for an arraignment.

  • Euro zone bailout fund not preparing Italy aid - Regling

    The euro zone bailout fund is not preparing financial support for Italy though some individual Italian banks have problems and need to raise capital, the head of the fund said on Friday. Klaus Regling spoke two days after the Italian daily La Stampa reported that Italy was set to ask the ESM for a loan of 15 billion euros (12.63 billion pound), quoting sources from the Treasury. There are lots of rumours ... but this is not the case, we have not been approached by the Italian government (for help)," Regling told reporters in the Finnish capital Helsinki.

  • Cramer Remix: Bring on the rate hike Yellen, I’m ready!

    Dec: Jim Cramer explained how Fed news could impact the market next week.

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  • Murdoch's new Sky bid should be probed says former UK minister

    Rupert Murdoch's new takeover approach for British pay-TV firm Sky should be investigated by the UK's competition authorities, according to the former minister who referred the tycoon's previous bid. Vince Cable, who was Britain's business secretary at the time of Murdoch's first bid in 2010-11 told BBC radio the media tycoon's new takeover attempt would not be in the public interest. On Friday Murdoch's Twenty-First Century Fox said it had struck a preliminary deal to buy the 61 percent of Sky it does not already own for around $14 billion.

    Reuters 22 mins ago
  • OSCE to replace drones shot down over east Ukraine

    The Organisation for Security and Cooperation in Europe on Friday launched a tender for long-range drones after losing eight such aircraft over eastern Ukraine since it began a monitoring mission there. "Many of our drones were electronically destroyed or shot down," OSCE Secretary General Lamberto Zannier told reporters during a two-day ministerial meeting in Hamburg. The OSCE, a 57-member human rights and security watchdog, ski has been using unmanned planes to help monitor the lines of conflict and augment the work of over 700 human observers in eastern Ukraine, often providing access to areas where monitors have been blocked.

  • Tag Heuer bucks downturn, expands in China: CEO

    Tag Heuer's renaissance is far from over, its chief executive told Reuters, adding the high-end watch brand still had room to expand in China and other markets after some of the strongest sales growth in the industry this year. LVMH's biggest watch brand in terms of sales has seen revenue growth of more than 10 percent so far in 2016, compared with a drop of more than 10 percent just two years ago, Jean-Claude Biver said in an interview. First hit in 2012 by China's crackdown on gift giving to officials, it then suffered from various market shocks and a tourism slump after militant attacks in Europe in 2015 and 2016.

  • U.S. regulator launches hotline for ex-Wells Fargo bankers fired during scandal

    A private U.S. regulator launched a hotline on Friday to hear from ex-Wells Fargo & Co employees who were fired for allegedly opening unauthorized accounts after news reports that the bank may have retaliated by terminating whistleblowers in the scandal. Federal regulators ordered the San Francisco-based bank to pay $190 million in fines and restitution in September because they said its high pressure sales environment pushed employees to open 2 million deposit and credit card accounts without customers' permission. The bank said that it fired 5,300 workers involved in the sales scandal.

  • Exclusive - Switzerland's Pilatus Aircraft considering an IPO in 2017: sources

    FRANKFURT/ZURICH (Reuters) - Swiss aircraft manufacturer Pilatus Aircraft is considering listing its shares in an initial public offering next year which could value the firm at around 3 billion Swiss francs (2.34 billion pound), according to two sources familiar with the matter. The ultimate timing of the IPO will depend on market conditions, the other source said. Pilatus declined to comment on a possible IPO.

  • Why carmakers should get a break on fuel-economy standards

    Donald Trump has reportedly nominated Scott Pruitt, the Attorney General of Oklahoma, to be the...

    Business Insider
  • American Airlines raises fourth-quarter unit revenue forecast

    Shares of top U.S. airlines rose on Friday, with American's up 4 percent and United's up 4.2 percent. American, the world's largest airline, said on Friday it expects fourth-quarter unit revenue to range between a decline of 1 percent and an increase of 1 percent, compared with its previous forecast of a decline of 2.5 percent to 0.5 percent. United, the No. 3 U.S. airline by passenger traffic, also forecast on Thursday a higher profit margin in the fourth quarter as bookings strengthened and expenses related to employment benefits were lower than expected.

  • Soccer-Kashima sink Auckland with late winner as video makes FIFA debut

    Kashima Antlers snatched a late 2-1 win over Auckland City's part-timers in the Club World Cup preliminary round tie on Thursday as video technology made its debut in a senior FIFA competition. Auckland, the club champions of Oceania and surprise semi-finalists two years ago, went ahead five minutes into the second half when Emiliano Tade's free kick found Kim Dae Wook and the South Korean defender scored with a header. The New Zealanders' goal came against the run of play but Kashima, who qualified as champions of host nation Japan, equalised 17 minutes later when Shuhei Akasaki turned in Ryota Nagaki's cross.

  • Aixtron considers partial sell-off after Chinese deal blocked

    German semiconductor chipmaking machinery company Aixtron may sell off part of its business, its chief executive said in an interview published on Friday, opening the door for bidders after a deal with a Chinese company collapsed. China's Fujian Grand Chip Investment Fund dropped its 670 million-euro ($712 million) bid for Aixtron earlier this week after the United States blocked the deal on security grounds, throwing the German company's future into doubt. "Or Aixtron could shrink, divest technologies and continue with a specialized offering," he said.

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  • Mercedes, Audi, and BMW have a new cash cow that's turning around the luxury market

    Luxury cars and regular-old SUVs are a pair of reliable profit drivers in the auto business...

    Business Insider
  • Tice: Predict we will hit 20K, after that is dangerous

    Discussing the Trump rally with David Tice, Tice Capital president, with the bear position; and Kevin Caron, Stifel Private Client Group, with the bull position.

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  • AT&T says vice chairman de la Vega to retire

    By Malathi Nayak and Christine Murray MEXICO CITY/NEW YORK (Reuters) - AT&T Inc Vice Chairman Ralph de la Vega, who played a critical role in bringing the iPhone to the U.S. market, will retire on Dec. 31, a spokesman for the wireless carrier said on Thursday. De la Vega, 65, who is CEO of AT&T's Business Solutions and International unit, will be succeeded by Thaddeus Arroyo, who heads AT&T's Mexico operations, AT&T spokesman Fletcher Cook said.

  • Nasdaq launches new Copenhagen index to reflect DONG, Nets IPOs

    Stock exchange operator Nasdaq will replace Denmark's main C20 CAP index with a new index of 25 companies to reflect a higher market capitalization and turnover following two of the world's biggest IPOs in Copenhagen this year. The new C25 CAP will be launched on Dec. 19 and is due to replace Denmark's largest index C20 CAP 12 months later, Nasdaq said in a statement Friday. "Thanks in part to a string of large cap listings since 2010, and with Nets and DONG Energy among this year's global top three IPOs, the Danish stock market has near-doubled in market capitalization and equity turnover since 2012," Nasdaq Copenhagen Chief Executive Bjorn Sibbern said.

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