Reuters: Business News

Abu Dhabi to aid Dubai on "case by case" basis

Sat, 28 Nov 2009 06:47:56 -0500

ABU DHABI (Reuters) - Abu Dhabi, wealthy capital of the United Arab Emirates, will "pick and choose" how to assist debt-laden neighbor Dubai, a senior official said on Saturday, after fears of a Dubai default sent global markets reeling.

Jobs data eyed, but Dubai is the wild card

Fri, 27 Nov 2009 21:47:01 -0500

NEW YORK (Reuters) - Dubai, jobs data, Black Friday results and a chance for Congress to throw fireballs at Fed chief Ben Bernanke: The U.S. stock market's path to glory is fraught with peril next week.

Audit would hurt economic prospects: Bernanke

Fri, 27 Nov 2009 21:28:04 -0500

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Friday congressional proposals to audit the Fed and strip it of regulatory powers as part of post-crisis reforms could damage prospects for economic and financial health in the future.

AB InBev calls off sale of Beck's beer brand: report

Sat, 28 Nov 2009 07:49:24 -0500

FRANKFURT (Reuters) - Anheuser-Busch InBev has walked away from a planned sale of its German beer brand Beck's to U.S. buyout firm Bain Capital, a German magazine reported.

VW to fold MAN, Scania into trucks unit: report

Sat, 28 Nov 2009 09:52:12 -0500

FRANKFURT (Reuters) - Volkswagen's plans to lift its stake in MAN SE to above 50 percent and fold the truckmaker into a new commercial-vehicles group at VW, a German magazine reported on Saturday.

Black Friday sales seen strong, but will it last?

Sat, 28 Nov 2009 07:57:12 -0500

NEW YORK (Reuters) - U.S. consumers turned out in strong numbers to hunt for holiday bargains on Black Friday, though many said they were spending selectively and industry executives questioned whether the momentum would last.

Pimco: Dubai triggers "overdue correction" in stocks

Fri, 27 Nov 2009 16:06:36 -0500

NEW YORK (Reuters) - Rising fears of a possible debt default at a Dubai state-owned conglomerate is the catalyst for an "overdue correction" in equities and risk assets, the chief executive of top bond fund manager Pimco said in an interview on Friday.

Bank of America amends pay for senior executives

Fri, 27 Nov 2009 20:32:39 -0500

NEW YORK (Reuters) - Bank of America Corp , the largest U.S. bank, amended on Friday the compensation agreements of two senior executives, following a review by the pay czar.

Japan PM, BOJ governor to meet next week: sources

Sat, 28 Nov 2009 10:07:53 -0500

TOKYO (Reuters) - Japanese Prime Minister Yukio Hatoyama and Bank of Japan Governor Masaaki Shirakawa will meet next week, two sources with direct knowledge of the matter said, as a surging yen adds to debate over central bank policy.

Oil falls 2.5 percent on Dubai default worries

Fri, 27 Nov 2009 14:34:21 -0500

NEW YORK (Reuters) - Oil prices settled down more than 2 percent at about $76 a barrel on Friday as fears of possible defaults in Dubai convulsed financial markets and boosted safe-haven demand for the U.S. dollar.