Reuters: Business News

US Airways plane makes unusual belly landing at Newark airport

Sat, 18 May 2013 17:51:44 GMT

NEWARK, New Jersey (Reuters) - A US Airways flight made an emergency landing on its belly at Newark Liberty International Airport early on Saturday after the plane's landing gear failed to deploy, but no one was injured, airline and government officials said.

Switzerland close to deal in U.S. tax dispute: finance minister

Sat, 18 May 2013 15:46:14 GMT

ZURICH (Reuters) - Switzerland is on the brink of a deal to settle a long-running dispute with U.S. authorities over Swiss banks accused of helping wealthy Americans evade billions of dollars of tax, the finance minister said on Saturday.

New Xbox more than a game console for Microsoft

Sat, 18 May 2013 15:17:12 GMT

SAN FRANCISCO/SEATTLE (Reuters) - Microsoft Corp is set to make a splash this week with the eagerly awaited unveiling of its new Xbox game console, eight years after the last version, as it seeks a larger share of the $65 billion a year global computer gaming industry.

Google's wearable Glass gadget: cool or creepy?

Sat, 18 May 2013 15:16:35 GMT

SAN FRANCISCO (Reuters) - Google staged four discussions expounding on the finer points of its "Glass" wearable computer during this week's developer conference. Missing from the agenda, however, was a session on etiquette when using the recording-capable gadget, which some attendees faithfully wore everywhere - including to the crowded bathrooms.

LATAM Airlines to resume Argentina flights later Saturday

Sat, 18 May 2013 15:16:15 GMT

SANTIAGO (Reuters) - LATAM Airlines Group SA said on Saturday it will resume flights to, from and within Argentina by 1530 GMT after state company Intercargo unilaterally decided on Friday to stop providing services to the carrier.

Bernanke upbeat on innovation outlook in commencement address

Sat, 18 May 2013 15:14:09 GMT

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke painted an upbeat picture on Saturday for the potential of innovation to lift living standards, delivering a sweeping look at the last 100 years that included memories of his 1963 South Carolina home.

Alpine in talks with FCC on financing: CEO

Sat, 18 May 2013 12:38:23 GMT

VIENNA (Reuters) - Alpine, the Austrian unit of Spanish construction group FCC , will hold talks with its owners on how to meet its financing needs and has many options open, Chief Executive Arnold Schiefer said.

Wall Street Week Ahead: Correction talk gets old as rally sails along

Sat, 18 May 2013 08:29:28 GMT

NEW YORK (Reuters) - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old.

China April housing inflation quickens to two year high

Sat, 18 May 2013 08:28:15 GMT

BEIJING (Reuters) - China's housing inflation accelerated to its fastest pace in April in two years, driven by a jump in prices in Beijing and Shanghai, complicating the task of policymakers trying to cool the property sector while supporting economic expansion.

Exclusive: EU cites Chinese telecoms Huawei and ZTE for trade violations

Sat, 18 May 2013 07:25:43 GMT

NEW YORK (Reuters) - Europe's top trade official for the first time late on Friday officially cited Chinese mobile telecommunications equipment makers Huawei and ZTE Corp for violating anti-dumping and anti-subsidy guidelines.

China April home prices rise 4.9 percent: Reuters calculation

Sat, 18 May 2013 01:54:58 GMT

BEIJING (Reuters) - Average new home prices in China's 70 major cities rose 4.9 percent in April from a year earlier, according to Reuters calculations based on official data published on Saturday, marking the fourth straight month of year-on-year increase.

Judge revives Dexia's mortgage lawsuit vs. JPMorgan

Sat, 18 May 2013 01:24:27 GMT

(Reuters) - A federal judge has revived a closely watched lawsuit accusing JPMorgan Chase & Co of misleading Belgian-French bank Dexia SA into buying more than $1.6 billion of troubled mortgage debt.

NYSE cancels irregular trades in Anadarko stock: Bloomberg

Sat, 18 May 2013 01:11:17 GMT

(Reuters) - The New York Stock Exchange canceled trades in Anadarko Petroleum Corp after a blip in trading cut the market value of the company by 99 percent, according to a report in Bloomberg.

Investor group calls on SEC to review change in JPMorgan voting

Sat, 18 May 2013 01:10:31 GMT

NEW YORK (Reuters) - Pension and endowment managers on Friday called on U.S. regulators to review the rules for shareholder voting after a firm collecting ballots for JPMorgan Chase & Co cut off the bank's opponents from polling information.

Yahoo to vote on $1.1 billion Tumblr buy: AllThingsD

Sat, 18 May 2013 01:09:16 GMT

SAN FRANCISCO (Reuters) - Yahoo Inc's board will meet on Sunday to vote on whether to offer $1.1 billion in cash for New York-based blogging service Tumblr, tech blog AllThingsD cited sources close to the situation as saying on Friday.

Investor group calls on SEC to review change in JPMorgan voting

Fri, 17 May 2013 23:41:20 GMT

NEW YORK (Reuters) - Pension and endowment managers on Friday called on regulators to review the rules for shareholder voting after a firm collecting ballots for JPMorgan Chase & Co cut off the bank's opponents from polling information.

Target goes hunting in Silicon Valley, following Wal-Mart

Fri, 17 May 2013 23:18:43 GMT

SAN FRANCISCO (Reuters) - Target Corp said on Friday it opened a new San Francisco office to track down technology companies that can help the second-largest U.S. retailer grow its online commerce business.

Oil price probe widens, senator wants Justice Department help

Fri, 17 May 2013 22:58:36 GMT

LONDON/WASHINGTON (Reuters) - A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands, while a key U.S. senator on Friday called for the Justice Department to join the investigation.

Unemployment rates drop in most states, Illinois climbs

Fri, 17 May 2013 22:22:44 GMT

WASHINGTON (Reuters) - Unemployment rates dropped in 43 out of the 50 U.S. states and in the District of Columbia in April from a year before, according to Labor Department data released on Friday.

SAC Capital won't fully cooperate with government: letter

Fri, 17 May 2013 22:04:17 GMT

NEW YORK (Reuters) - Steven A. Cohen's hedge fund SAC Capital Advisors told investors on Friday it would no longer cooperate "unconditionally" with the U.S. government's insider trading investigation.

Dow, S&P end at records, stocks mark fourth week of gains

Fri, 17 May 2013 22:01:00 GMT

NEW YORK (Reuters) - Stocks continued their climb into uncharted territory on Friday, racking up the fourth week of gains in a row as encouraging economic data prompted investors to pick up shares of growth companies.

Judge revives Dexia lawsuit vs. JPMorgan over mortgage claims

Fri, 17 May 2013 21:45:11 GMT

(Reuters) - A federal judge has revived a closely watched lawsuit accusing JPMorgan Chase & Co of misleading Belgian-French bank Dexia SA into buying more than $1.6 billion of troubled mortgage debt.

Transocean chairman voted out, Icahn dividend plan rejected

Fri, 17 May 2013 21:02:14 GMT

ZUG, Switzerland (Reuters) - Transocean Ltd shareholders voted out Chairman Michael Talbert at the annual meeting on Friday and backed a nominee of activist investor Carl Icahn to replace him on the board of the world's largest offshore drilling contractor.

China deal ends distraction, but not questions, for Caterpillar

Fri, 17 May 2013 20:59:07 GMT

CHICAGO (Reuters) - Caterpillar Inc's deal to cut the purchase price of a Chinese mining-equipment maker it bought last year ends an embarrassing episode that overshadowed the company's effort to expand in China and distracted its executives for months.

Exclusive: Onex fails to find buyer for Carestream Health

Fri, 17 May 2013 20:42:37 GMT

NEW YORK (Reuters) - Onex Corp has called off its auction of medical imaging firm Carestream Health Inc after failing to find a buyer that was willing to meet its price expectation of as much as $3.5 billion, three people familiar with the matter said this week.