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Business News Headlines - Yahoo! News
U.S. industry shows some vigor, but housing soft
Wed, 16 Apr 2014 11:01:41 -0400 -

Workers install a roof on a multi-family building in BroomfieldGroundbreaking for new homes also increased but remained well below the post-recession peak hit in November, signaling the drag the housing market is placing on the economy. Output at the nation's factories, mines and utilities rose 0.7 percent last month after an upwardly revised gain of 1.2 percent in February, the Federal Reserve said on Wednesday. Economists had expected industrial production to rise 0.5 percent.


Wall Street gains after Chinese data, Yahoo up on Alibaba
Wed, 16 Apr 2014 10:36:45 -0400 -

Traders work on the floor of the New York Stock ExchangeBy Rodrigo Campos NEW YORK (Reuters) - U.S. stocks rose for a third straight session on Wednesday after China's economic growth exceeded expectations and Yahoo shares rallied on the strength of revenue growth in Chinese e-commerce giant Alibaba, in which it has a stake. China, the world's second-largest economy, grew at its slowest pace in 18 months at the start of 2014, but the rise was better than expected and showed some improvement in March. The global economy should grow steadily at best over the coming year, a Reuters poll showed, but any rapid slowdown in China could upset the progress. "We think that is influencing the market today." Yahoo was the leading percentage gainer on the S&P 500 as revenue growth accelerated in the last quarter of 2013 for Alibaba , in which Yahoo holds a 24 percent stake.


World economy on steady course at best, China a worry, polls show
Wed, 16 Apr 2014 10:47:02 -0400 -

A labourer works at a construction site in HefeiThe world economy can expect steady growth at best over the coming year, but any rapid slowdown in China as it tries to rebalance its economy could upset the still-unsteady progress, Reuters polls showed. Growth in the United States, the world's largest economy, looks set to outpace its peers, with Japan and the euro zone still lagging and emerging markets - particularly Latin America - in for a challenging year. The poll results suggest that exuberance in financial markets, especially stock markets, may have been overdone in the past few years on expectations for a robust pick-up in global growth. With a few notable exceptions like Britain, developed economies are also showing scant evidence of an imminent and significant improvement in hiring, particularly so in the euro zone and the United States.


Yahoo shares jump as Alibaba's revenue surges ahead of IPO
Wed, 16 Apr 2014 10:52:26 -0400 -

File photo of a Yahoo logo in front of a building in RolleYahoo Inc's shares rose as much as 9 percent in heavy trading on Wednesday, a day after Chinese internet company Alibaba Group Holding Ltd, in which it holds a 24 percent stake, reported a surge in quarterly revenue. At least nine brokerages raised their price targets on Yahoo's shares ahead of Alibaba's IPO filing, expected next week. "We continue to recommend aggressive purchase of (Yahoo's) shares ahead of the Alibaba IPO," Topeka Capital Markets analyst Victor Anthony said in a note. The IPO is set to be the largest in the United States since Facebook Inc's 2012 market debut and it is the most awaited IPO in what's expected to be a record year for U.S. tech debuts after Twitter Inc's successful IPO in 2013.


BofA reports first quarterly loss since 2011 on lofty legal bill
Wed, 16 Apr 2014 11:28:15 -0400 -

A Bank of America sign is pictured in Encinitas, CaliforniaBank of America Corp reported an unexpected first-quarter loss on Wednesday after it took a $6 billion charge to cover litigation expenses, a figure that far exceeded the legal settlements the No. 2 U.S. bank has announced recently. The bank had previously said that a settlement would cut into its earnings by $3.7 billion before taxes. The extra litigation expenses came from setting aside money to cover future legal settlements tied to previously disclosed mortgage-related matters, Chief Financial Officer Bruce Thompson told reporters. Still, the bank's setting aside more money does not mean a settlement is imminent, Thompson told analysts on a separate conference call.


After years of downsizing, refining still matters for majors
Wed, 16 Apr 2014 11:58:48 -0400 -

The ConocoPhillips oil refinery lights up a neighborhood in San PedroBy Dmitry Zhdannikov LONDON (Reuters) - When U.S. firm ConocoPhillips spun off its refining assets in 2011 to focus on more profitable oil production, it seemed only a matter of time before one of the oil majors followed suit. Three years on, the six vertically integrated global majors are still holding onto their often loss-making plants, seen as a drag by investors. Europe's oil refining guru, Marcel van Poecke, believes the move will be repeated one day. BP, once considered to be a monster of refining, has sold 13 refineries in as many years, effectively halving the number of plants in which it participates or operates.


Exclusive - Bahrain's Ahli United Bank considers sale or merger: sources
Wed, 16 Apr 2014 11:49:07 -0400 -

A customer walks out from the main entrance to Ahli United Bank's headquarters in ManamaBy Anjuli Davies, Pamela Barbaglia and Sophie Sassard LONDON (Reuters) - Ahli United Bank (AUB) , Bahrain's largest lender, is evaluating a sale or a merger with a rival bank in a potential $5 billion deal, several bankers familiar with the situation said. A deal of this size would be the largest banking transaction in the region for the past 20 years, according to Thomson Reuters data, beating Emirates Bank's $3.7 billion acquisition of National Bank of Dubai in 2007 and Qatar National Bank's $1.9 billion purchase of Societe Generale's Egyptian business in 2012. AUB is one of only a few banks in the Gulf region with pan-Arab operations and as such offers scope for further growth in countries such as Egypt, where western banks are seeking to cut their exposure. "One way to do it is to combine AUB with another banking institution." AUB came close to a merger with a bank based in the Gulf Cooperation Council (GCC) area in 2010 but the financial crisis derailed the deal, said one banker who was involved in the talks but declined to name the bank.


Euro strength here to stay, unless ECB steps in
Wed, 16 Apr 2014 10:58:46 -0400 -

The euro sign landmark is seen at the headquarters of the European Central Bank (ECB) in FrankfurtBy Anirban Nag and Eva Taylor LONDON/FRANKFURT (Reuters) - Many of the factors driving the euro exchange rate to levels that have set off alarm bells at the European Central Bank are unlikely to go away on their own, part of the reason the bank has been threatening action. The euro is still off the peaks of 2011, but because inflation is now heading close to zero, the ECB is sensitive to its current rate because anything that makes it stronger pushes deflation nearer. Mario Draghi, the ECB president, said at the weekend a strengthening exchange rate would trigger more policy action. That could be some form of quantitative easing, or asset buying, to get more money into the system and hence make the euro cheaper.


Yahoo's growth anemic as turnaround chugs along
Wed, 16 Apr 2014 11:12:50 -0400 -

File photo of a Yahoo logo in front of a building in RolleBy Alexei Oreskovic SAN FRANCISCO (Reuters) - Yahoo Inc again posted anemic quarterly revenue growth as the Internet company's advertising business continues to lag its rivals, nearly two years into Chief Executive Officer Marissa Mayer's comeback effort. Yahoo reports the Chinese company's financial results one quarter later than its own.


Sodastream in talks to sell up to 16 percent stake: report
Wed, 16 Apr 2014 10:38:27 -0400 -

Employees pack boxes of the SodaStream product at the factory in the West Bank Jewish settlement of Maale Adumim(Reuters) - At-home soda maker Sodastream International is in early talks to sell a stake of up to 16 percent to a strategic entity, Israeli financial news daily Calcalist reported on its website. U.S. shares of Sodastream rose as much as 12 percent to $42.25 on Wednesday after the website identified PepsiCo Inc, Dr Pepper Snapple Group or Starbucks Co as the potential investors in the Israel-based company. The price being discussed values Sodastream at about $1.1 billion, Calcalist said. The valuation reflects a share price of $52, compared with Sodastream's closing price of $37.64 on the Nasdaq on Tuesday.


Why high oil prices are actually good for airlines
Wed, 16 Apr 2014 11:42:45 -0400 -

FILE - In this June 12, 2008 file photo, a worker hooks up a fuel hose to an airplane at Tampa International Airport in Tampa, Fla. Airline executives frequently complain about fuel costs. But the truth is higher prices actually have been good for business. (AP Photo/Brian McDermott, File)NEW YORK (AP) — Airline executives frequently complain about fuel costs. But the truth is higher prices actually have been good for business.


Toyota Camry gets a top-to-bottom makeover
Wed, 16 Apr 2014 11:23:20 -0400 -

The 2015 Toyota Camry is introduced at the New York International Auto Show, Wednesday, April 16, 2014, in New York. (AP Photo/Mark Lennihan)NEW YORK (AP) — Shaken by the advances of newer, sportier rivals, the Toyota Camry is trying to shed its vanilla reputation.


Yahoo, China news send US stocks higher at midday
Wed, 16 Apr 2014 11:57:08 -0400 -

FILE- In this Friday, June 29, 2012, file photo Specialists Frank Masello, left, and John T. O'Hara work on the trading floor of the New York Stock Exchange in New York shortly before the closing bell. World stock markets rose Wednesday April 16, 2014 as China's slowdown in the first quarter was less severe than expected. (AP Photo/David Karp, File)Stocks are moving higher for a third day in a row after more U.S. companies report solid earnings and on encouraging news about China's economy.


US home building up in March after frigid winter
Wed, 16 Apr 2014 09:18:48 -0400 -

This Friday, March 21, 2014 photo shows roofers installing a roof on a new construction home in Pepper Pike, Ohio. The Commerce Department reports on U.S. home construction in March later Wednesday April 16, 2014. (AP Photo/Tony Dejak)WASHINGTON (AP) — U.S home construction rose moderately in March as builders resumed work at the end of a frigid winter. But applications for building permits slid, clouding the outlook for future construction.


US factory output extended solid gains in March
Wed, 16 Apr 2014 09:44:51 -0400 -

FILE -In this Tuesday, Sept. 10, 2013, file photo, workers man the Motorola smartphone plant in Fort Worth, Texas. The Federal Reserve reports on industrial production for March later Wednesday April 16, 2014. (AP Photo/LM Otero, File)WASHINGTON (AP) — U.S. factory output rose further last month, extending strong growth from February after harsh weather had caused production to tumble in January. Manufacturers produced more furniture, clothing, chemicals and aerospace products.


Bank of America posts loss, hurt by legal expenses
Wed, 16 Apr 2014 08:18:17 -0400 - CHARLOTTE, N.C. (AP) — Bank of America said Wednesday that it swung to a loss in the first quarter, hurt by $6 billion in legal expenses.
Ford to offer 50th anniversary Mustang
Wed, 16 Apr 2014 11:40:09 -0400 -

Bill Ford, Ford Motor Company's executive chairman, stands with the all-new 2015 Mustang convertible as it's introduced on the 86th floor observation deck of the Empire State Building during the New York International Auto Show, Wednesday, April 16, 2014, in New York. (AP Photo/John Minchillo)NEW YORK (AP) — Ford is celebrating the 50th anniversary of the Mustang with a limited-edition model and a display atop the Empire State Building.


Russian economy hit by Ukraine turmoil
Wed, 16 Apr 2014 11:27:08 -0400 -

A man passes by the car painted in the colors of Russian flag near a Soviet-era monument to Vladimir Lenin in the central square in Donetsk, Ukraine, Tuesday, April 15, 2014. Several government buildings have fallen to mobs of pro-Moscow loyalists in recent days as unrest spreads across the east of the country. (AP Photo/Efrem Lukatsky)MOSCOW (AP) — Russia's economy slowed sharply at the start of the year as the crisis in Ukraine spooked investors into pulling money out of the country. But with Russian President Vladimir Putin still enjoying high popularity ratings, the economic damage is not yet likely to soften his politics in the region, analysts say.


CSX railroad expects modest 2014 profit growth
Wed, 16 Apr 2014 10:05:28 -0400 -

In this March 22, 2014 picture, a crew member walks on a CSX freight train engine in Brunswick, Md. CSX Corp. reports quarterly earnings after the market close on Tuesday, April 15, 2014. (AP Photo/Patrick Semansky)OMAHA, Neb. (AP) — CSX railroad expects to deliver modest profit growth this year, but the impact of the severe winter will linger into the second quarter.


China's growth slows to 7.4 percent in 1Q
Wed, 16 Apr 2014 05:27:14 -0400 -

FILE - In this Tuesday, April 8, 2014 file photo, a worker walks past a container vessel docked in Qingdao port in east China's Shandong province. China's economic growth slowed to 7.4 percent in the first quarter, raising the risk of job losses and a potential impact on its trading partners. The figure reported Wednesday, April 16 by the government was down from the previous quarter's 7.7 percent. (AP Photo/File) CHINA OUTBEIJING (AP) — China's economic growth slowed further in the latest quarter but appeared strong enough to satisfy Chinese leaders who are trying to put the country on a more sustainable path without politically dangerous job losses.


3 Ways Failure Can Help Build a Business and Mistakes to Avoid
Wed, 16 Apr 2014 10:41:35 -0400 -

3 Ways Failure Can Help Build a Business and Mistakes to AvoidLife is a journey and not a destination. Failure and mistakes are going to happen along the way.


Driving Growth Across Industries With The What, How And Who Approach
Wed, 16 Apr 2014 10:38:20 -0400 - Consider the "What, How and Who" approach to driving growth through high-performing teams. David Berg has used it successfully across several different industries in over sixty countries including expanding Best Buy Co., Inc. electronics into China, selling Outback steaks in Brazil and helping middle America adopt Verizon's phone services. He was about halfway through his first 100-days as COO of travel and hospitality company Carlson when we talked. ...
Anti-Obamacare States Are Falling Far Behind In Insuring People
Wed, 16 Apr 2014 09:52:47 -0400 -

Anti-Obamacare States Are Falling Far Behind In Insuring PeopleThe ranks of the uninsured are thinning most quickly in states that have actively embraced Obamacare, a new poll finds. The uninsured rate has fallen about 2.5 percentage points this year in states that agreed to expand Medicaid and established their own insurance exchanges under the Affordable Care Act, according to a Gallup poll released Wednesday. In states that either rejected Medicaid expansion or refused to set up state-run exchanges, or both, that percentage has only fallen 0.8 percent so far this year.


The Zero Marginal Cost Society: Unlocking Wealth & Cities Too, But Beware the Regulatory Wrinkles
Wed, 16 Apr 2014 09:05:08 -0400 -

The Zero Marginal Cost Society: Unlocking Wealth & Cities Too, But Beware the Regulatory WrinklesCities that understand the forces behind the collaborative economy and can boldly embrace new models of value creation (at little of no cost) will be global role models in the years to come.


The 5 Dumbest Credit Mistakes
Wed, 16 Apr 2014 07:16:04 -0400 -

The 5 Dumbest Credit MistakesIn a world where breaches (exemplified by "Heartbleed," Target and all stripe of individual, corporate and government database compromise) and identity theft have become the third certainty in life, jealously guarding our privacy must be our individual missions.


Why A Broken Appliance Can Actually Be A Blessing
Wed, 16 Apr 2014 00:00:08 -0400 -

Why A Broken Appliance Can Actually Be A BlessingIt's a situation most of us can identify with--our furnace or water heater breaks or our home air conditioning system fails. While it makes sense to replace these outdated appliances for more energy-efficient ones, the immediate need to fix the problem usually wins out. Most of us haven't saved enough to do an appliance overhaul. So we fix the issue, continue with the status quo, and - as an unintended result - we keep wasting power.


Samsung Gear Devices Compatible with 20 Galaxy Devices
Tue, 15 Apr 2014 21:59:06 -0400 -

Samsung Gear Devices Compatible with 20 Galaxy DevicesGood news for fitness fans:  Samsung Electronics announced the compatibility of the Samsung Gear 2 Gear 2 Neo and Gear Fit. As of the 15th of April 2014, the Samsung Gear 2 Gear 2 Neo …


Samsung Speaks Up on its New Website, design.samsung.com
Tue, 15 Apr 2014 21:17:07 -0400 -

Samsung Speaks Up on its New Website, design.samsung.comAs far as design goes, generally, what we see is what we get. However, design is much more than what we simply ‘see’. When we talk about product design, we need to consider things like …


Protecting You From Credit Report Errors, Unreliable Scores
Tue, 15 Apr 2014 19:14:31 -0400 -

Protecting You From Credit Report Errors, Unreliable ScoresAleta from Mena, Arkansas, has had a hard time getting a decent rate on a car loan all because of a mistake on her credit report. The problem started when she received a bill that was caused by a computer glitch and not because of money she actually owed. She tried to resolve the problem but the company ended up turning the bill over to a collection agency and the erroneous charge ended up on her credit report.


US Airways Explains How It Tweeted That Infamous Nude Photo
Tue, 15 Apr 2014 18:50:00 -0400 -

US Airways Explains How It Tweeted That Infamous Nude PhotoUnless you're living in a cave and are completely off the grid, you may have noticed that US Airways sent out a tweet on Monday that included a graphic image of a woman sexually pleasuring herself with a toy airplane. US Airways spokesman Matt Miller told The New York Daily News that the tweet "was an honest mistake." On behalf of the airline, Miller said, "first and foremost, we apologize." He also clarified that no employee would be fired over the incident.


The Senate Banking Committee Proposes Adoption of an Untried Model to Replace Fannie Mae and Freddie Mac
Tue, 15 Apr 2014 18:37:42 -0400 -

The Senate Banking Committee Proposes Adoption of an Untried Model to Replace Fannie Mae and Freddie MacA lot of ink is being spilled on which side of the aisle is getting the better of the bipartisan deal, but that is a sideshow. The critical question is whether the basic structure proposed as a replacement for Fannie/Freddie would meet the objective of creating effective secondary mortgage markets?


How to Select the Best Digital Agency for Your Online Business
Tue, 15 Apr 2014 18:34:27 -0400 -

How to Select the Best Digital Agency for Your Online BusinessTo make sure you engage the right company for your business, ask these five key questions during the interview.


I Want a Bigger Cable Company, Said No One Ever
Tue, 15 Apr 2014 18:26:12 -0400 -

I Want a Bigger Cable Company, Said No One EverA combined Comcast/Time Warner has implications for millions of consumers around the country, so it's no wonder that this issue has struck a chord with so many people.


The Secret to Higher Expected Returns
Tue, 15 Apr 2014 18:15:12 -0400 -

The Secret to Higher Expected ReturnsIs there something these passive investors know that you don't? Why have they thrown in the towel and abandoned the quest for alpha?


Is An Ideal Entrepreneur Right Brain Or Left Brain?
Tue, 15 Apr 2014 17:58:48 -0400 - Traditionally, the majority of entrepreneurs have been logical thinkers, problem solvers, and pay attention to details. These are the stereotypical left-brain engineers. Yet I see a big shift from the knowledge age, with its left-brain foundation, to a critical focus today on visualization, creativity, relationships, and collaboration, which are more in the domain of right-brainers. Of course, the best solution would be a new wave of so-called whole-brain thinkers, but this term is usually reserved for Einstein and Picasso, and no entrepreneurs that I can name. ...
Postal Union Fights Staples Partnership: 'A Big Step Toward Privatization'
Tue, 15 Apr 2014 17:35:13 -0400 -

Postal Union Fights Staples Partnership: 'A Big Step Toward Privatization'ELMWOOD PARK, Ill. -- On a recent Saturday morning, 500 protesters poured out of a parade of school buses, signs and megaphones in hand, and tried their best to shame a single Staples store just outside Chicago. Among them was Mike Suchomel, a 20-year veteran of the U.S. Postal Service, who traveled all the way from New Jersey for a nearby labor conference. What has infuriated Suchomel and many of his fellow postal union members is a new arrangement struck between USPS and the office supply retailer. Under the premise of a pilot program, a limited number of Staples locations


Develop an Acute Ability to Listen
Tue, 15 Apr 2014 17:21:02 -0400 -

Develop an Acute Ability to ListenWith all the sales training offered out there, the most often overlooked and simplest to execute is the 'art of listening.' Unfortunately, the typical sales person always has something more to say and a difficult time shutting up.


Developing Global Leaders Is a Science and an Art
Tue, 15 Apr 2014 16:59:32 -0400 -

Developing Global Leaders Is a Science and an ArtIn my first blog I spoke of the need to revolutionize the leadership and diversity relationship because how leaders develop and how diversity is practiced in our organizations is outdated. There is a wealth of books and articles on what makes a good leader and how to develop leaders. Examples of these types of theories include transactional leadership, charismatic leadership and transformational leadership.


Impact Investing and Global Finance: The Big Picture
Tue, 15 Apr 2014 16:45:24 -0400 -

Impact Investing and Global Finance: The Big PictureOne of the interesting and important recent developments in wealth management has been the emergence of a group of clients that seek to deliver measurable positive social or environmental benefits with every dollar they put to work.


How to Help Keep Employees From Living on the Financial Edge
Tue, 15 Apr 2014 16:06:50 -0400 -

How to Help Keep Employees From Living on the Financial EdgeDuring Financial Literacy Month, while many experts concentrate efforts on educating students and retirees, it's important to consider how employers can lead the charge in improving and educating their employees to be financially healthy.




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