Reuters: Business News

Wall St drops 1 percent as Greek talks stall

Fri, 10 Feb 2012 10:23:22 -0500

NEW YORK (Reuters) - Stocks dropped on Friday as the most recent flare-up in Greek negotiations for a financial bailout package put the S&P 500 on track to snap a three-day winning streak.

Greeks strike against austerity before crucial vote

Fri, 10 Feb 2012 10:18:04 -0500

ATHENS (Reuters) - Striking Greek workers denounced a new wave of austerity on Friday as an imposition too far by Europe and the IMF. Finance Minister Evangelos Venizelos told the nation it faced a stark choice between sacrifices inside the euro area and bigger sacrifices outside.

Consumer mood worsens in early February on income worries

Fri, 10 Feb 2012 10:09:49 -0500

NEW YORK (Reuters) - Americans turned less optimistic about the economy in early February on worries about falling income even as their outlook on the jobs market rose to a record high, a survey released on Friday showed.

December trade gap widens

Fri, 10 Feb 2012 09:21:56 -0500

WASHINGTON (Reuters) - The U.S. trade deficit widened slightly more than expected in December, as stronger U.S. economic growth lifted imports to the highest level in three-and-a-half years.

Exclusive: Brazil jets deal heats up as Boeing freezes bid

Fri, 10 Feb 2012 08:43:44 -0500

SAO PAULO (Reuters) - Boeing has frozen the price on its bid for a multi-billion-dollar Brazilian air force jet contract, sources close to the deal told Reuters, as the global race to sell military hardware to emerging economic powers becomes more competitive.

Economists see Q4 jobless rate at 8.1 percent

Fri, 10 Feb 2012 10:04:12 -0500

WASHINGTON (Reuters) - Economists see the unemployment rate falling much faster than previously expected this year, even though they slightly lowered their outlook for economic growth, a survey released on Friday showed.

China economy shows strain as policy shift eyed

Fri, 10 Feb 2012 07:43:34 -0500

BEIJING (Reuters) - China betrayed signs of spluttering domestic demand on Friday as imports crumbling to their lowest in more than two years and weaker-than-forecast bank lending signaled to investors that policymakers would soon make a fresh bid to bolster growth.

Analysis: Aluminium losing battle against oversupply

Fri, 10 Feb 2012 09:04:42 -0500

LONDON (Reuters) - Excess capacity in aluminium smelting will drag on for years to come, even while losses weigh on producers, as political pressures in China and Russia to keep jobs and push self-sufficiency prevent or delay plant closures.

LyondellBasell results miss Street; shares slump

Fri, 10 Feb 2012 10:07:21 -0500

(Reuters) - Chemical maker LyondellBasell Industries NV's quarterly operating profit fell far short of Wall Street's expectations as refining margins dropped and customers conserved cash.

AllianceBernstein disappoints again

Fri, 10 Feb 2012 09:23:00 -0500

(Reuters) - Money manager AllianceBernstein LP turned in another disappointing financial report on Friday, with fourth-quarter profit and revenue falling short of Wall Street expectations as clients continued to pull money out of its stock funds.