What's News US

U.S. Sets Money-Market Plan

Tue, 07 Feb 2012 13:55:26 EST - The SEC is finishing a plan to shore up the money-market fund industry. Critics say the rules could damp returns for investors.

Stocks Look Past Greek Travails

Tue, 07 Feb 2012 13:59:14 EST - Stocks held on to gains in early-afternoon trading, even as Greece delayed action on austerity measures to address its debt crisis.

Bernanke Faces Senate Lawmakers

Tue, 07 Feb 2012 12:52:07 EST - Bernanke faced Senate lawmakers Tuesday, again offering a message for Washington to get its fiscal house in order.

Merger to Create Commodities Giant

Tue, 07 Feb 2012 14:00:55 EST - Xstrata plans to merge with Glencore to create a sector-straddling giant with a value of about $90 billion and the scale to produce and trade natural resources in five continents.

Coke to Spend More on Marketing

Tue, 07 Feb 2012 13:42:05 EST - Coca-Cola plans to plow up to $650 million in new, annual cost savings back into supporting growth for its brands, which continued to grow sales and volume in the fourth quarter that saw actual earnings fall due to a gain last year.

Apple Is Challenged in China Over iPad Name

Tue, 07 Feb 2012 11:39:15 EST - Proview Technology (Shenzhen) has filed for a temporary restraining order in a Shanghai court to stop Apple from using the iPad name in mainland China.

Glaxo Has Been Repatriating Euro-Zone Cash

Tue, 07 Feb 2012 13:46:25 EST - Glaxo has been funneling cash back to the U.K. daily from banks in euro-zone countries as part of its strategy to reduce exposure to risks of a possible breakdown of the European monetary system.

MasterCard Doubles Quarterly Payout

Tue, 07 Feb 2012 13:23:53 EST - The credit-card processor said it will double its quarterly dividend after a strong year in which it grew profit and revenue despite new regulations and mounting economic pressures.

Times of London Misled Court on Email Incident

Tue, 07 Feb 2012 13:47:33 EST - James Harding, the editor of the Times of London, on Tuesday acknowledged the newspaper misled a British High Court about a 2009 email hacking incident. He sent an apology to the court's judge.

Wal-Mart to Expand in Canada

Tue, 07 Feb 2012 12:03:01 EST - Wal-Mart will spend about $753 million to expand its presence in Canada ahead of the opening of rival Target's first stores in the country early next year.

Sands China, Cirque du Soleil End Contract

Tue, 07 Feb 2012 11:56:11 EST - The Macau unit of Las Vegas Sands and Cirque du Soleil said they are putting an early end to a 10-year contract, showing the difficulty companies have faced trying to transform the gambling haven into a tourist destination like Las Vegas.

China Raises Fuel Prices

Tue, 07 Feb 2012 10:28:01 EST - China on Tuesday raised its ceilings on gasoline and diesel prices in response to rising prices in international markets.

McClatchy Profit Rises

Tue, 07 Feb 2012 10:25:32 EST - McClatchy's fourth-quarter earnings nearly tripled as cost cutting at the newspaper publishing company helped to mitigate declining advertising and circulation revenue.

UBS Culls Bonuses as Profit Falls

Tue, 07 Feb 2012 12:58:54 EST - UBS said it will slash investment-bank bonuses by 60% this year, while the head of the unit will forgo any bonus at all following a trading scandal last September that cost the bank $2.3 billion.

For Sale: AIG's Subprime Bonds

Tue, 07 Feb 2012 10:58:47 EST - Five Wall Street banks have been invited by the New York Fed to bid for a multibillion-dollar bundle of risky mortgage bonds it owns as a result of its 2008 rescue of AIG.

Rate Probe Keys On Traders

Mon, 06 Feb 2012 23:45:34 EST - Investigators in a world-wide probe of how crucial interest rates are set are focusing on a small number of traders suspected of trying to influence other bank employees to manipulate the rates.

Toyota Talks Up Despite Down Quarter

Tue, 07 Feb 2012 13:12:25 EST - Toyota lifted its full-year net income forecast, but expects its earnings to come in at nearly half the level of last year, and below the profitability projections of its smaller Japanese rivals.

BP Raises Dividend on Profit Increase

Tue, 07 Feb 2012 13:29:11 EST - BP raised its dividend for the first time since it resumed payouts in the wake of the Deepwater Horizon tragedy, as the U.K. energy giant reported earnings that beat expectations.

Investors Await Nomura Rating Decision

Tue, 07 Feb 2012 09:31:48 EST - Moody's was expected to announce this week whether it will cut Nomura's debt rating as the Japanese brokerage struggles to bolster its global business.

Swatch Triggers Luxury Slide

Tue, 07 Feb 2012 13:07:14 EST - Swatch triggered a slide in luxury stocks across Europe as its upbeat outlook was overshadowed by a dividend and operating profit that fell short of expectations.

SNB Stays Course on Franc

Tue, 07 Feb 2012 06:50:56 EST - The Swiss National Bank will enforce its minimum rate of 1.2 Swiss francs per euro with "utmost determination" and is ready to buy unlimited amounts of foreign currency to do so, interim president Thomas Jordan said.

Lagardère Books Write-Down

Tue, 07 Feb 2012 09:09:08 EST - Lagardère warned of a substantial impairment charge on its sports division, the latest setback in the media-to-defense conglomerate's much-vaunted plan to dominate the global sports-marketing business.

Arcelor Sees Tentative Recovery

Tue, 07 Feb 2012 13:24:31 EST - ArcelorMittal said it expects steel shipments to remain flat in the first half but that mining production will increase 10% as the company expands in the natural-resources sector.

Pennsylvania Plan Sees Slimmer Harrisburg

Mon, 06 Feb 2012 22:24:48 EST - A state-appointed financial custodian released a recovery plan for Harrisburg on Monday, moving Pennsylvania's capital closer to resolving its financial crisis.

Challenges for MF Trustee

Tue, 07 Feb 2012 10:59:21 EST - A bankruptcy trustee investigating MF Global said he faces huge challenges getting back an estimated $1.2 billion in customer funds drained from the securities firm before it collapsed.

Oracle Seeks New Trial in SAP Case

Tue, 07 Feb 2012 01:51:29 EST - Oracle rejected a $272 million award in its intellectual-property theft case against SAP, an expected move that sets the stage for a new trial between the bitter software rivals.

Asia Markets Slip

Tue, 07 Feb 2012 09:19:55 EST - Mainland Chinese shares tumbled, leading most major Asian markets lower, as investors expressed disappointment at monetary policy in the world's No. 2 economy; the Shanghai Composite slid 1.7%.

Japan Confirms 'Stealth' Yen Intervention

Tue, 07 Feb 2012 05:14:30 EST - Japan continued to conduct "stealth" interventions in the currency market after its highly publicized yen-selling campaign on Oct. 31, data released by the Finance Ministry confirmed.

IMF Urges Beijing to Ready Bold Moves

Mon, 06 Feb 2012 22:46:58 EST - The IMF urged China to run a federal deficit of 2% of GDP rather than looking to reduce the country's deficit as planned, given the uncertainty in the global economy.

Wal-Mart Names China Chief

Tue, 07 Feb 2012 10:36:08 EST - Wal-Mart Stores tapped Greg Foran as president and CEO of Wal-Mart China as the retailer looks to regain its footing after several missteps in one of its most important growth markets.

Brazil Privatizes Airports

Mon, 06 Feb 2012 22:25:41 EST - Brazil raised $14 billion in a privatization of three major airports, a bid to speed modernization of overcrowded hubs before the country hosts soccer's 2014 World Cup and the 2016 Olympic Games.

Hasbro's Net Edges Lower

Mon, 06 Feb 2012 18:36:27 EST - Hasbro's earnings slipped as the toy maker booked double-digit sales declines in the girls and games categories.

Calstrs to Place $500 Million Bet

Mon, 06 Feb 2012 20:45:00 EST - The California State Teachers' Retirement System is making a $500 million bet with Australia's Industry Funds Management Fund that it can make money from utilities, roads, ports and pipelines around the globe.

U.K. Retail Sales Drop

Tue, 07 Feb 2012 05:08:53 EST - Retail sales in U.K. stores that have been open for at least a year fell in January, and at the second-fastest rate for the first month of the year since records began in 1995, according to the British Retail Consortium's monthly survey.

China Accepts First HK Shares-Linked ETF

Mon, 06 Feb 2012 22:26:36 EST - China's securities regulator has accepted an application to launch the country's first exchange-traded fund linked to Hong Kong-listed shares, offering Chinese investors fresh access to securities overseas.

Caesars Shows Some Tarnish as It Returns to Markets

Tue, 07 Feb 2012 13:29:30 EST - Caesars aims to sell around 1.4% of itself in an offering that values the casino giant at around $23.7 billion—compared with around $28 billion when it was taken private four years ago.

China Carriers Won't Pay Fees For Emissions

Mon, 06 Feb 2012 19:45:33 EST - China said it prohibited its airlines from paying for carbon emissions under the European Union's system to limit greenhouse emissions, in an escalation of Beijing's opposition to the plan.