Reuters: Business News

Sprint posts wider loss

Mon, 12 May 2008 07:17:40 -0400

NEW YORK (Reuters) - Sprint Nextel Corp on Monday reported a wider quarterly loss amid steep defections of high-value customers who pay monthly phone bills and commit to contracts of at least a year.

MBIA posts huge loss on credit derivatives

Mon, 12 May 2008 07:09:01 -0400

NEW YORK (Reuters) - MBIA said on Monday unrealized losses on insured derivatives skyrocketed in the first quarter pushed the world's largest bond insurer into a sharp quarterly loss.

Stock futures rise as oil pulls back

Mon, 12 May 2008 07:39:19 -0400

NEW YORK (Reuters) -Stock index futures rose on Monday, in line with global equities, as the dollar strengthened and oil pulled back from record highs.

ILFC considering split-up from insurer AIG: report

Mon, 12 May 2008 06:04:21 -0400

NEW YORK (Reuters) - International Lease Finance Corp, a unit of American International Group , is worried by the insurer's financial troubles and mulling a split from it, the Wall Street Journal said on Monday, citing people familiar with the matter.

April retail sales barely budged: SpendingPulse

Mon, 12 May 2008 05:25:34 -0400

NEW YORK (Reuters) - Retail sales barely rose in April, as a relentless surge in gasoline prices made consumers cut back other types of spending, according to a report released on Monday.

Oil eases towards $125 on stronger dollar

Mon, 12 May 2008 05:47:52 -0400

LONDON (Reuters) - Oil eased towards $125 a barrel on Monday, as a stronger dollar and profit-taking put the brakes on a rally that took it to record peaks last week.

Hearings planned on energy market speculation: report

Mon, 12 May 2008 06:09:04 -0400

NEW YORK (Reuters) - A House committee has started investigating speculation in energy markets, with plans to hold hearings in May and June, the Wall Street Journal said on Monday, citing a Democratic aide and several other people invited as witnesses.

HSBC says Q1 profit up, bad debts jump

Mon, 12 May 2008 06:59:04 -0400

LONDON (Reuters) - Europe's biggest bank HSBC Holdings said its profit in the first quarter was ahead of a year ago as growth in Asia helped counter over $5 billion in hits from bad debts on U.S. home loans and asset writedowns.

Nikon profit up, strong yen hits outlook

Mon, 12 May 2008 07:00:47 -0400

TOKYO (Reuters) - Japan's Nikon Corp said its quarterly operating profit rose 48 percent thanks to sales of advanced cameras and chip-making equipment, but it predicted a fall in operating profit this year.

Fujitsu fourth-quarter profit down, sees rebound

Mon, 12 May 2008 04:58:06 -0400

TOKYO (Reuters) - Japan's Fujitsu Ltd reported a 40 percent fall in quarterly profit on Monday, hurt by restructuring in its microchip operations, but it forecast that its annual profit would more than double this year on its IT outsourcing operations.