Category | Business

Tesla’s Musk says ‘about time to unveil the D and something else’

Posted on 01 October 2014

(Reuters) – Tesla Motor Inc Chief Executive Elon Musk sent out a cryptic tweet on Wednesday, saying it is “about time to unveil the D and something else”, with an accompanying photo which mentioned a date, Oct. 9. (http://bit.ly/ZtvoeG)

Asia spooked by weak global data; Tokyo stocks slide, yen up

Posted on 01 October 2014

TOKYO (Reuters) – Asian stocks fell on Thursday as weak global manufacturing activity and an Ebola health scare in the United States spooked world markets, sending investors scurrying to the safety of U.S. bonds, the Japanese yen and gold.

Pimco Total Return Fund posts record $23.5 billion net outflow in September

Posted on 01 October 2014

(Reuters) – Pacific Investment Management Co suffered a record $23.5 billion of withdrawals from its flagship Pimco Total Return Fund in September, with its largest daily outflow occurring on the day of Bill Gross’s surprise resignation from the firm.

PayPal spawn have advanced where PayPal stood still

Posted on 01 October 2014

SAN FRANCISCO (Reuters) – PayPal’s biggest threat as it prepares to split from eBay next year may come from former employees who back a crop of new businesses serving shoppers who increasingly prefer to pay with mobile phones rather than personal compu…

Bank of America names CEO Moynihan chairman of board

Posted on 01 October 2014

(Reuters) – Bank of America Corp said it named Chief Executive Brian Moynihan as chairman of its board, effective immediately.

Hyundai Motor’s South Korean workers narrowly approve wage deal

Posted on 01 October 2014

SEOUL (Reuters) – Hyundai Motor Co’s unionized workers in South Korea voted in favor of a wage deal by a slim margin, averting more strikes in the automaker’s biggest manufacturing base.

ECB to flesh out asset-purchase plan it hopes will buoy euro zone

Posted on 01 October 2014

FRANKFURT (Reuters) – The European Central Bank will present details on Thursday of a new asset-buying plan with which it hopes to revive the flagging euro zone economy and see off the specter of deflation.

ECB to flesh out asset-purchase plan it hopes will buoy euro zone

Posted on 01 October 2014

FRANKFURT (Reuters) – The European Central Bank will present details on Thursday of a new asset-buying plan with which it hopes to revive the flagging euro zone economy and see off the specter of deflation.

Bank of America names CEO Moynihan chairman of board

Posted on 01 October 2014

(Reuters) – Bank of America Corp said it named Chief Executive Brian Moynihan as chairman of its board, effective immediately.

Fannie, Freddie shares slump after investor lawsuits dismissed

Posted on 01 October 2014

(Reuters) – Shares of government-controlled Fannie Mae and Freddie Mac plummeted on Wednesday, the day after a judge upheld the U.S. Treasury’s right to seize the mortgage finance companies’ profits.

Fannie, Freddie shares slump after investor lawsuits dismissed

Posted on 01 October 2014

(Reuters) – Shares of government-controlled Fannie Mae and Freddie Mac plummeted on Wednesday, the day after a judge upheld the U.S. Treasury’s right to seize the mortgage finance companies’ profits.

Philips Electronics loses $467 million patent verdict to Masimo

Posted on 01 October 2014

(Reuters) – A federal jury on Wednesday said Philips Electronics NA should pay $466.8 million to Masimo Corp for having infringed two patents for technology used to help measure blood oxygen and track pulse rates.

Philips Electronics loses $467 million patent verdict to Masimo

Posted on 01 October 2014

(Reuters) – A federal jury on Wednesday said Philips Electronics NA should pay $466.8 million to Masimo Corp for having infringed two patents for technology used to help measure blood oxygen and track pulse rates.

Torrid U.S. car sales pace slowed in September

Posted on 01 October 2014

DETROIT (Reuters) – U.S. auto sales in the third quarter were the best in eight years, but mixed September results from leading automakers on Wednesday indicated the industry’s torrid summer pace is slowing.

Samsung Electronics profit seen bottoming in third quarter ahead of slow recovery

Posted on 01 October 2014

SEOUL (Reuters) – Samsung Electronics Co Ltd’s profit is seen weakening further in the third-quarter, underscoring the downturn in its market-leading smartphone business and piling pressure on the firm to deliver a revamped product lineup.

Samsung Electronics profit seen bottoming in third quarter ahead of slow recovery

Posted on 01 October 2014

SEOUL (Reuters) – Samsung Electronics Co Ltd’s profit is seen weakening further in the third-quarter, underscoring the downturn in its market-leading smartphone business and piling pressure on the firm to deliver a revamped product lineup.

WiLan says loses LTE patent case against Apple

Posted on 01 October 2014

TORONTO (Reuters) – Canadian patent licensing company WiLan Inc on Wednesday said a U.S. judge had ruled in favor of Apple Inc in a litigation case against it.

WiLan says loses LTE patent case against Apple

Posted on 01 October 2014

TORONTO (Reuters) – Canadian patent licensing company WiLan Inc on Wednesday said a U.S. judge had ruled in favor of Apple Inc in a litigation case against it.

Coca-Cola, bowing to pressure, amends employee equity plan

Posted on 01 October 2014

(Reuters) – Coca-Cola Co, facing criticism from Warren Buffett and other investors for its outsized employee share rewards, said it had adopted new guidelines that would limit its stock compensation plan and improve transparency.

Wall Street tumbles on Ebola fears; small caps drop

Posted on 01 October 2014

NEW YORK (Reuters) – U.S. stocks dropped more than 1 percent on Wednesday as the first diagnosis of Ebola in a patient in the United States spooked investors, economic data pointed to uneven growth, and the Russell 2000 index entered correction territo…

New York Times to cut jobs as new products disappoint

Posted on 01 October 2014

(Reuters) – The New York Times Co said it would cut jobs, including about 7.5 percent of its newsroom positions, as advertising revenue dwindles and new digital products fail to live up to expectations.

Ford loses bid to recoup $450 million interest on overpaid taxes

Posted on 01 October 2014

(Reuters) – A federal appeals court rejected Ford Motor Co’s bid to recoup about $450 million of interest from the U.S. government on taxes overpaid by the automaker.

CitiMortgage, Wells lose bid to end lawsuit over credit reports

Posted on 01 October 2014

NEW YORK (Reuters) – Wells Fargo Bank and Citigroup’s mortgage unit must face claims that they violated federal law by falsely notifying credit reporting agencies that thousands of homeowners went through bankruptcies or foreclosures, a federal judge h…

Exclusive: BATS eyes Concannon, Marques for exchange president

Posted on 01 October 2014

NEW YORK (Reuters) – BATS Global Markets has narrowed its search for a new president to two industry executives with close ties to the No. 2 U.S. stock market operator, three sources familiar with the situation said on Wednesday.

Ford loses bid to recoup $450 million interest on overpaid taxes

Posted on 01 October 2014

(Reuters) – A federal appeals court rejected Ford Motor Co’s bid to recoup about $450 million of interest from the U.S. government on taxes overpaid by the automaker.