Reuters: Business News

Defensives rally on flat day for Wall Street

Mon, 12 Mar 2012 19:26:57 -0400

NEW YORK (Reuters) - Defensive names rallied in an otherwise flat day for Wall Street on Monday as investors paused after recent gains and looked ahead to the Federal Reserve's monetary policy statement.

Yahoo sues Facebook for infringing 10 patents

Mon, 12 Mar 2012 19:09:31 -0400

SAN FRANCISCO (Reuters) - Yahoo Inc sued Facebook Inc over 10 patents that include methods and systems for advertising on the Web, opening the first major legal battle among big technology companies in social media.

Government details mortgage pact, promises tough oversight

Mon, 12 Mar 2012 18:03:26 -0400

WASHINGTON (Reuters) - The government released the fine print of its landmark $25 billion mortgage settlement, and promised to closely police the banks' pledges to bring widespread housing relief, even while letting them dodge admission of wrongdoing.

Citigroup could be surprise winner in stress tests

Mon, 12 Mar 2012 17:06:18 -0400

(Reuters) - Citigroup Inc may be a surprise winner when the Federal Reserve reveals the results of bank stress tests designed to gauge the health of the biggest U.S. banks.

PepsiCo deepens management bench

Mon, 12 Mar 2012 11:08:59 -0400

(Reuters) - PepsiCo Inc revamped its global structure on Monday in a move that deepens its management bench and could pave the way for an eventual successor to Chief Executive Indra Nooyi.

Sealy investor blasts KKR, seeks board seat

Mon, 12 Mar 2012 16:50:59 -0400

(Reuters) - Sealy Corp's second-largest shareholder launched a scathing attack against private equity firm KKR & Co LP , accusing it of wiping out 90 percent of the mattress maker's value while saddling it with debt and milking it with fees.

No decision yet on bonuses: MF Global trustee

Mon, 12 Mar 2012 18:59:45 -0400

(Reuters) - The trustee managing MF Global Holdings Ltd's assets in bankruptcy told a lawmaker he has made no decision on whether to seek bonuses for the top executives of the collapsed commodities firm.

U.S. nixes tentative $1 billion settlement with J&J: WSJ

Mon, 12 Mar 2012 22:27:03 -0400

(Reuters) - Federal prosecutors in Washington, D.C. have nixed a tentative $1 billion settlement with Johnson & Johnson, holding out for a bigger settlement with the drugmaker for alleged improper marketing of its Risperdal schizophrenia drug, the Wall Street Journal said.

Youku to buy Tudou, creating China online video giant

Mon, 12 Mar 2012 17:06:37 -0400

SHANGHAI (Reuters) - China's top two online video companies are joining forces, with Youku.com buying smaller rival Tudou Holdings Ltd in an all-stock deal worth over $1 billion, creating an industry leader with more than a one third share of a market that is losing money as it battles rising costs.

BOJ set to refrain from easing, extend loan scheme on growth

Mon, 12 Mar 2012 21:42:43 -0400

TOKYO (Reuters) - The Bank of Japan is expected to refrain from easing monetary policy further on Tuesday, while stressing its readiness to act again in coming months if needed and extending a cheap loan line supporting growth industries.