Reuters: Business News

Stocks jumps as G20 says cheap money to continue

Mon, 09 Nov 2009 12:28:24 -0500

NEW YORK (Reuters) - U.S. stocks jumped on Monday, extending gains from the previous week, on renewed risk-taking sentiment after the Group of 20 pledged to keep economic stimulus in place until a recovery was assured.

Kraft turns hostile in $16 billion bid for Cadbury

Mon, 09 Nov 2009 11:48:23 -0500

LONDON (Reuters) - Kraft Foods chief Irene Rosenfeld stuck to her guns in the pursuit of candy maker Cadbury, refusing to sweeten her $16.4 billion offer, triggering a bid battle that could last up to three months.

GE, Comcast agree on NBC Universal valuation: source

Mon, 09 Nov 2009 00:35:05 -0500

NEW YORK (Reuters) - General Electric Co. and Comcast Corp have agreed on a valuation of around $30 billion for a joint venture between NBC Universal and Comcast, ironing out what has been a key obstacle in talks so far, a source familiar with the matter said on Sunday.

McDonald's October same-store sales up, U.S. slips

Mon, 09 Nov 2009 12:09:26 -0500

LOS ANGELES/CHICAGO (Reuters) - McDonald's Corp said sales at established U.S. restaurants fell 0.1 percent in October, as expected, but its stock ticked up 1.5 percent after sales from the rest of the world buoyed overall results.

Stuyvesant Town woes may pave way for loan changes

Mon, 09 Nov 2009 11:54:15 -0500

NEW YORK (Reuters) - The joint venture that borrowed heavily to buy Stuyvesant Town and Peter Cooper Village in 2006 could be among the first to take advantage of changes in U.S. tax law that let borrowers seek payment relief, when it said last week that it could not keep paying interest on a $3 billion loan.

Retailers in focus as earnings season wraps up

Mon, 09 Nov 2009 07:47:10 -0500

NEW YORK (Reuters) - U.S. retailers are poised to defy gloom this week as earnings expectations have improved, but the big test will be what they say about holiday shopping.

Dish gains subscribers, sets special dividend

Mon, 09 Nov 2009 12:28:19 -0500

NEW YORK (Reuters) - Dish Network Corp, the No. 2 U.S. satellite TV provider, beat Wall Street forecasts by posting a gain of 241,000 subscribers in the third quarter and surprised investors with a plan to pay shareholders a special dividend of $2 a share.

Las Vegas Sands shares up as Hong Kong offer range set

Mon, 09 Nov 2009 12:33:58 -0500

ATLANTA (Reuters) - Shares of Las Vegas Sands Corp rose 7 percent on Monday after the casino operator said it would look to raise up to $3.35 billion through an initial public offering of shares in its Macau business.

AXA targets Asia growth in spite of China snag

Mon, 09 Nov 2009 07:58:51 -0500

SYDNEY/HONG KONG (Reuters) - French insurer AXA sought full control of its majority-owned Asian arm to get a tighter grip on the region's booming markets, and stuck with plans to grow in China in spite of regulatory obstacles there.

Oil jumps above $79 on hurricane, dollar

Mon, 09 Nov 2009 09:36:17 -0500

LONDON (Reuters) - Oil rose well over a dollar to more than $79 a barrel on Monday after Hurricane Ida forced the shut in of U.S. oil and gas production and Group of 20 talks sent equities up and the dollar down.