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By Caroline Valetkevitch NEW YORK Tue Feb 11, 2014 4:27pm EST (Reuters) – Investors can’t blame the stock market’s bumpy ride so far this year on S&P 500 earnings, which could end the reporting period with the best quarterly growth in more than two years. Results haven’t done much to prop up the overall market, but analysts said that the numbers should relieve worries that last year’s big rally came without much gain in profit […]
By Douwe Miedema and Karen Freifeld WASHINGTON/NEW YORK Tue Feb 11, 2014 6:32pm EST (Reuters) – New York’s financial regulator on Tuesday revealed new details on how the state plans to govern virtual currencies such as bitcoin, just as problems in the nascent market took a turn for the worse. Benjamin Lawsky, superintendent of New York’s Department of Financial Services, expects to adopt consumer disclosure rules, capital requirements and a framework for permissible investments with […]
(Reuters) – Alibaba Group Holding Ltd is set to launch a U.S. e-commerce website through its subsidiaries Vendio and Auctiva, which are in turn part of the Alibaba.com business group, the company told Reuters on Tuesday. The 11 Main (11main.com) site is an online shopping businessthat offers “interesting, quality products” from “hand-picked shop owners” such as fashion, tech and jewelry goods. Alibaba has been ramping up its international expansion with various acquisitions, including leading a roughly $200 million investment […]
(Reuters) – Barclays said it would axe up to 12,000 jobs this year even as it raised bonuses for investment bankers, prompting fury among politicians and unions who said it had not learned the lessons of the financial crisis. Britain’s third-biggest bank said up to 9 percent of employees could go, including 7,000 in Britain, as it tries to lower costs. The cuts are not concentrated in any one business area. It said it paid […]
(Reuters) – Federal Reserve Chair Janet Yellen said on Tuesday the U.S. central bank was on track to keep reducing its policy stimulus, even as she acknowledged the labor market recovery was “far from complete.” In her first public comments as Fed chief, Yellen said the central bank would need to keep its eye on a broad range of labor market indicators, not just the unemployment rate, as it continued to assess the health of […]
(Reuters) – The developer of Flappy Bird, currently the most popular free mobile game on Apple App Store and Google’s Android Play store, has announced that he is taking the game down at midnight (1700 GMT) on Sunday. Nguyen Ha Dong, a Hanoi-based game developer, announced the grounding of the addictive game in a Tweet at 1900 GMT on Saturday in which he also apologised to Flappy Bird players. “22 hours from now, I will […]
ZURICH Sat Feb 8, 2014 12:10pm EST (Reuters) – Nestle, the world’s biggest food company, is looking at ways to reduce its $30 billion stake in cosmetics firm L’Oreal , Bloomberg reported on Saturday, citing sources with knowledge of the matter. Nestle has told L’Oreal of its intentions, and the two companies have discussed the issue with banks, though no decision over the possible timing of any sale, which could take years, has been made, […]
By Angela Moon NEW YORK Fri Feb 7, 2014 7:58pm EST (Reuters) – After the S&P 500’s first weekly gain in a month, investors will see next week whether the U.S. stock market’s rally of the last two days is the shape of better things to come – or if this year’s weakness will turn into a full-fledged correction. The S&P 500 rose 0.8 percent for the week, scoring a weekly gain for the first […]
(Reuters) – Asian shares regained a measure of stability on Friday, stepping further away from five-month lows after a strong rally on Wall Street and hopeful signs the upcoming U.S. payroll report could put some global growth concerns to rest. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.8 percent, a day after the index posted its biggest gains in over two months. The index bounced 2.2 percent from a five-month low hit on Wednesday. […]
MANILA, Feb. 6 (PNA) — The Philippine stock market finished slightly higher along with other Asian bourses, extending its gains for a second day on Thursday, following the positive closings from Wall Street. The benchmark Philippine stock exchange index (PSEi) edged up 6.18 points to 5,914.59 from previous day’s 5,908.41 finish. Brokerage firm 2tradeasia.com said local equities continued to mirror follow-through positive closings from Wall Street. This was supported by hopes for another status quo […]
(Reuters) – Media company Walt Disney Co reported higher profit for the quarter that ended in December, beating Wall Street expectations with growth at sports network ESPN and the strong performance of its animated hit film “Frozen.” The company posted adjusted earnings per share of $1.04, according to a statement released on Wednesday, exceeding the 92 cents average estimate of analysts surveyed by Thomson Reuters I/B/E/S. Net income for the quarter rose to $1.8 billion, […]
(Reuters) – Aston Martin is recalling most of its sports cars built since late 2007 after discovering a Chinese sub-supplier was using counterfeit plastic material in a part supplied to the luxury sports carmaker. Aston Martin, which is owned by Kuwaiti and private equity investors, is recalling 17,590 cars, including all of its left-hand-drive models built since November 2007 and all right-hand-drive models built since May 2012, affecting about 75 percent of all vehicles built […]
