Business News

As GE profits rise, investors wonder about cash plans

By Scott Malone Fri Jan 18, 2013 2:50pm EST (Reuters) - What's Jeff Immelt going to do with the money? General Electric Co shareholders are wondering what the company's chief executive plans to do with a cash windfall that could total tens of billions of dollars over several years as the company sells its remaining stake in NBC Universal and recoups more of the profits earne...

18 Jan 10:53 PM 0 Read More...

Wall Street edges lower after disappointing Intel results

By Angela Moon NEW YORK | Fri Jan 18, 2013 12:02pm EST NEW YORK (Reuters) - U.S. stocks edged lower on Friday from a five-year high for the S&P 500 as a weak outlook from tech heavyweight Intel offset a better-than-expected quarterly profit at Morgan Stanley. Shares of Intel Corp (INTC.O) slumped 6.3 percent to $21.25 a day after it forecast quarterly revenue be...

18 Jan 5:51 PM 0 Read More...

Consumer sentiment hits year low in January

By Edward Krudy NEW YORK | Fri Jan 18, 2013 11:13am EST NEW YORK (Reuters) - Consumer sentiment unexpectedly deteriorated for a second straight month to its lowest in over a year in January, with many consumers citing the recent "fiscal cliff" debate in Washington, a survey released on Friday showed. The sharp drop in sentiment over the last two months coincides wit...

18 Jan 5:51 PM 0 Read More...

Boeing Dreamliner probe focuses on burned-out battery, more checks due

By Antoni Slodkowski TAKAMATSU, Japan | Fri Jan 18, 2013 10:36am EST TAKAMATSU, Japan (Reuters) - U.S. and Japanese aviation safety officials wrapped up their initial investigation of a badly damaged battery from a Boeing 787 Dreamliner jet on Friday, saying further checks would be held in Tokyo and could take a week to complete. Officials from the Federal Aviation ...

18 Jan 5:51 PM 0 Read More...

GE profit tops Wall Street view, order backlog rises

By Scott Malone Fri Jan 18, 2013 12:37pm EST (Reuters) - General Electric Co (GE.N) reported a better-than-expected 7.5 percent rise in fourth quarter profit and a sharp increase in its backlog of equipment orders, sending its shares higher. GE, the largest U.S. conglomerate, notched strong earnings growth at units that make jet engines and equipment used in oil and gas prod...

18 Jan 5:51 PM 0 Read More...

Barclays sued over role in German "mini Madoff" fraud

FRANKFURT | Fri Jan 18, 2013 9:34am EST FRANKFURT (Reuters) - Investors who lost money in a Ponzi scheme run by Helmut Kiener, convicted founder of the K1 hedge fund in Germany, are suing Barclays Plc (BARC.L) for selling his products to them, their lawyers said on Friday. The lawyers said they were seeking a total of around 100 million euros ($133.58 million) in damages an...

18 Jan 5:51 PM 0 Read More...

Exclusive: Japan’s Sharp curbs iPad screen output as Apple manages inventory – sources

By Reiji Murai and Miyoung Kim TOKYO/SEOUL |Fri Jan 18, 2013 11:09am EST TOKYO/SEOUL (Reuters) – Sharp Corp has nearly halted production of 9.7-inch screens for Apple Inc’s iPad, two sources said, possibly as demand shifts to its smaller iPad mini. Sharp’s iPad screen production line at its Kameyama plant in central Japan has fallen to the minimal level to keep the line running this month...

18 Jan 5:51 PM 0 Read More...

Chinese, U.S. data push shares to 20-month high

By Marc Jones LONDON | Fri Jan 18, 2013 6:02am EST LONDON (Reuters) - World shares hit a 20-month high on Friday as encouraging data from the United States and China boosted prospects for the global economy, while the yen hit new lows ahead of next week's Bank of Japan meeting. China's economy grew at a slightly faster-than-expected 7.9 percent in the fourth quarter...

18 Jan 12:49 PM 0 Read More...

Exclusive – Japan’s Sharp curbs iPad screen output as Apple manages demand shift-sources

By Reiji Murai and Miyoung Kim TOKYO/SEOUL |Fri Jan 18, 2013 3:57am EST TOKYO/SEOUL (Reuters) – Sharp Corp has nearly halted production of 9.7-inch screens for Apple Inc’s iPad, two sources said, as demand shifts to its smaller iPad mini. Sharp’s iPad screen production line at its Kameyama plant in central Japan has fallen to the minimal level to keep the line running this month after a g...

18 Jan 12:48 PM 0 Read More...

Analysis: More Americans leave parental nest in boost for housing

By Lucia Mutikani WASHINGTON | Fri Jan 18, 2013 1:07am EST WASHINGTON (Reuters) - Americans are feeling increasingly confident in the future and more and more are striking out to set up their own homes, a move that is helping propel the housing recovery. The deep financial crisis and recession of 2007-2009 kept many Americans from leaving their parents' nests and dr...

18 Jan 7:45 AM 0 Read More...