Business & Finance News - Yahoo! Finance

Fed Weighed Slowing its Pace of Bond Purchases

Wed, 22 May 2013 14:49:25 -0400

Several Federal Reserve policymakers this month favored slowing the Fed's efforts to maintain record-low long-term interest rates as early as summer — if the economy showed strong and sustained growth.

3 Things to Fear More Than the Fed

Wed, 22 May 2013 12:20:17 -0400

Investors can never escape all fear and threat of loss. But as a start, it helps to know what’s worth being afraid of.

IRS Official Lerner: 'I Did Nothing Wrong'

Wed, 22 May 2013 13:12:32 -0400

The IRS official at the center of the storm over the agency's targeting of conservative groups told Congress she had done nothing wrong in the episode, and then invoked her constitutional right to refuse to answer lawmakers' questions.

Will Earnings Confirm H-P Is a Turnaround Story Worth Buying?

Wed, 22 May 2013 11:20:41 -0400

Hewlett-Packard's nearly 50% gain so far this year has left it in a league of its own atop the 30 companies that make up the Dow Jones Industrial Average, and yet, its support on Wall Street is razor thin.

Housing Recovery Has Legs: Santoli

Wed, 22 May 2013 12:03:53 -0400

The housing recovery seems to have a new leg based on a scarcity of supply coupled with low interest rates and growing demand.

Indications Suggest London Killing Was Terror-Related: Cameron

Wed, 22 May 2013 14:35:51 -0400

PARIS (Reuters) - British Prime Minister David Cameron said on Wednesday that there were "strong indications" that a killing in London was terror-related. "It is the most appalling crime," Cameron said, before cutting short a visit to Paris. "The police are urgently seeking the full facts about this case but there are strong indications that it is a terrorist incident." (Writing by Kate Holton; Editing by Guy Faulconbridge and Andrew Osborn)

Corporate Income Tax Should Be Killed: David Cay Johnston

Wed, 22 May 2013 09:49:51 -0400

Apple put a fork in the traditional music industry. Then introduced the iPad, kicking off the demise of the PC market. Could the corporate income tax system be next?

Move Over Target! Dollar Stores Are Taking Share: Schoenberger

Wed, 22 May 2013 11:55:13 -0400

With America's two biggest mass merchants sitting near all-time highs it's a good time to consider the possibility that it's not just online merchants picking away at Big Box retailers, writes Breakout's Jeff Macke.

The New Consoles from Microsoft, Nintendo and Sony

Wed, 22 May 2013 13:45:37 -0400

Microsoft is the last of the three big video game console makers to unveil its latest gaming system. The unveiling comes nearly eight years after the Xbox 360 went on sale. It follows last fall's debut ...

Did Dimon’s Title Fight Strengthen His Standing?

Wed, 22 May 2013 09:32:16 -0400

Did Jamie Dimon's battle to keep both the CEO and Chairman titles actually strengthen his standing with JPMorgan Chase?

ESPN Cuts Jobs Amid Rising Fees for Games

Tue, 21 May 2013 20:20:00 -0400

ESPN started laying off a few hundred workers Tuesday, a sign that the hugely profitable sports cable-TV powerhouse is responding to the higher prices it is paying for rights to air games as well as other ...

Phone Firms Sell Data on Customers

Tue, 21 May 2013 19:13:00 -0400

Big phone companies have begun to sell the vast troves of data they gather about their subscribers' locations, travels and Web-browsing habits. The information provides a powerful tool for marketers but ...

Prosecutors Consider Use of Organized Crime Law Against SAC

Wed, 22 May 2013 02:36:00 -0400

Federal prosecutors are considering charging hedge fund SAC Capital Advisors LP as a criminal enterprise through a powerful legal tool used against the Mafia and drug gangs, people familiar with the probe said.

Target's 1Q Profit Drops 26% on Weak Sales, Cuts Outlook

Wed, 22 May 2013 09:16:04 -0400

Target Corp. is reporting a 26 percent drop in first-quarter profits as cool temperatures and financial pressures limited customers' appetite for spending.

Bank of Japan Vows Market Steps to Curb Bond Turbulence

Wed, 22 May 2013 05:55:23 -0400

The Bank of Japan vowed on Wednesday to take necessary steps to reduce volatility in bond markets that has threatened to jeopardize the government's fight to end deflation and revive growth.

Sony Mulls Hedge Fund's Entertainment Sale Idea

Wed, 22 May 2013 05:54:45 -0400

Sony's CEO Kazuo Hirai says the electronics giant's board will discuss a proposal by U.S. hedge fund manager Daniel Loeb to spin off up to 20 percent of its movie, TV and music division.

Toll Brothers Profit Rises 46%

Wed, 22 May 2013 10:29:04 -0400

Toll Brothers Inc posted a 46 percent rise in quarterly profit as the largest U.S. luxury homebuilder sold more homes at higher prices, indicating that the housing recovery is spreading across the industry.

Lowe's 1Q Profit Rises, but Results Miss Street

Wed, 22 May 2013 10:57:07 -0400

Lowe's first-quarter net income rose almost 3 percent, even as a wet and cool spring dampened sales of gardening products. But the home improvement chain's quarterly performance missed Wall Street's expectations.

Wall Street Rises as Concern Eases Over Fed Tapering

Wed, 22 May 2013 14:35:23 -0400

Stocks rose Wednesday after Fed Chairman Bernanke said the central bank must see further signs of economic traction before tapering stimulus efforts.

Existing Home Sales Highest in Almost Three-and-a-Half Years

Wed, 22 May 2013 13:56:43 -0400

Home resales rose in April to the highest level in nearly 3-1/2 years as surging prices lured sellers back into market, which should support the housing sector and the overall economic recovery.

Bernanke: Job Market Too Weak to End Stimulus

Wed, 22 May 2013 14:28:07 -0400

Chairman Ben Bernanke is telling Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs.

Staples Quarterly Profit Misses Analysts' Estimates

Wed, 22 May 2013 06:52:48 -0400

Staples Inc reported a slightly lower-than-expected quarterly profit on Wednesday, hurt by a stronger dollar and weak sales in Europe and Australia. The largest U.S. office supplies retailer said income ...

Apple CEO Tim Cook, Lawmakers Square Off Over Taxes

Tue, 21 May 2013 22:51:00 -0400

WASHINGTON—Apple Inc.'s tax strategies came under harsh scrutiny Tuesday in the Senate, where lawmakers are finding it far easier to call for a simpler tax code than to produce one. Tim Cook, Apple's chief ...

First Look: New Xbox Elegant, but Much Unknown

Wed, 22 May 2013 13:39:25 -0400

Will gamers want One? After four years of development, Microsoft unveiled the Xbox One entertainment console and touted it as an all-in-one solution for playing games, watching TV and doing everything ...

U.S. Auto Factories Cutting Back on Summer Downtime

Wed, 22 May 2013 11:12:38 -0400

The Detroit automakers are largely forgoing the traditional two-week summer break at their factories and speeding up production to meet buyers' growing demand for new cars and trucks.

SocGen CEO to face shareholders after Rosbank arrest

Wed, 22 May 2013 05:33:25 -0400

Societe Generale management will face investors later on Wednesday for the first time since the shock arrest of the French bank's top Russian executive on charges of bribery. The annual shareholder meeting ...

Bernanke suggests Fed not ready to pull back on stimulus

Wed, 22 May 2013 14:49:48 -0400

The Federal Reserve's monetary stimulus is helping the economy recover but the central bank needs to see further signs of traction before taking its foot off the gas, Fed Chairman Ben Bernanke said on ...

Clearwire recommends approval of sweetened Sprint bid

Wed, 22 May 2013 11:55:27 -0400

Clearwire Corp said its special committee and its board of directors approved Sprint Nextel Corp's sweetened offer to take over the company and advised shareholders to vote for the deal. Wireless service ...

Europe closes in on tax havens; Austria agrees to swap bank data

Wed, 22 May 2013 12:01:54 -0400

Europe moved closer to ending banking secrecy on Wednesday after Austria dropped objections to sharing data on foreign depositors and the EU focused on negotiating a similar agreement with Switzerland. ...

Delta Airlines wants to stop Ex-Im help on big jets

Wed, 22 May 2013 14:53:13 -0400

Delta Air Lines Inc wants the U.S. Export-Import Bank to stop helping state-owned foreign airlines buy wide-body jets from Boeing Co , and would be willing to forgo such support for its own purchases if ...

Dish uses national security ads to fight SoftBank deal

Wed, 22 May 2013 14:11:39 -0400

Dish Network Corp has rolled out an advertising campaign suggesting a deal by a Japanese company to acquire Sprint Nextel Corp could threaten U.S. national security, hoping to sway lawmakers and win support ...

Delta will wait for new planes to prove themselves: CEO

Wed, 22 May 2013 14:16:49 -0400

U.S. carrier Delta Air Lines will watch the wave of orders for the latest Airbus and Boeing planes roll on by and wait for the jets to prove themselves before ordering any, its chief executive told Reuters ...

Fed officials want more progress before bond tapering: minutes

Wed, 22 May 2013 14:44:36 -0400

Many Federal Reserve officials earlier this month wanted to see more evidence that the economy was recovering before shifting toward a tapering of their bond purchase program, the Fed said on Wednesday. ...

Vatican financial body investigating possible money laundering

Wed, 22 May 2013 14:18:05 -0400

The Vatican's new financial watchdog said on Wednesday it had detected six possible attempts to use the Holy See to launder money last year, citing this as proof of its commitment to transparency. The ...

Fed Watch: When Will QE Tapering Start?

Wed, 22 May 2013 09:20:53 -0400

Marc Chandler, head of global currency strategy at Brown Brothers Harriman, has both good news and bad news for the legions of Ben Bernanke haters.

Bernanke Speaks: Can Anything Slow Down This Market?

Wed, 22 May 2013 10:19:26 -0400

Investors may have become “overly fixated” on Fed policy, but comments from Fed officials are not likely to sway investors from buying risky assets, says YFinance Senior Columnist Michael Santoli.

Live: BoJ Decision; Sony Swings on Report; Ford Gears Up

Wed, 22 May 2013 08:28:23 -0400

Join Hot Stock Minute live now for the latest premarket news and which stocks to watch before the opening bell. (Click to watch)

Bernanke Must Come Clean, Says Whalen

Wed, 22 May 2013 08:14:58 -0400

The world would be well served if Bernanke came clean on the short-comings of his global inflation strategy, says Chris Whalen, a managing director at Carrington Investment Services.

Investors Edgy Ahead of Bernanke Testimony

Wed, 22 May 2013 06:54:05 -0400

Investors were edgy Wednesday ahead of the appearance of U.S. Federal Reserve chairman Ben Bernanke before lawmakers in Congress.