Business News

Analysis: Brazil's Vale's challenges go beyond iron ore

By Jeb Blount RIO DE JANEIRO | Thu Oct 11, 2012 5:41pm EDT RIO DE JANEIRO (Reuters) - Roger Agnelli, who was forced out as chief executive of Brazil's Vale in May 2011, may have been lucky to leave the world's second-largest mining company when he did. Since Murilo Ferreira replaced him as CEO, a series of setbacks have raised questions about Vale's ability to incre...

11 Oct 9:59 PM 0 Read More...

Wall Street climbs on lower jobless claims, Sprint soars

By Atossa Araxia Abrahamian NEW YORK | Thu Oct 11, 2012 11:59am EDT NEW YORK (Reuters) - Stocks rose on Thursday after data showed initial jobless claims at their lowest in more than four and a half years, pointing to signs of continued improvement in the jobs market. Sprint Nextel Corp (S.N) shares jumped 19 percent to $5.98 on news Japan's Softbank Corp (9984.T) w...

11 Oct 4:52 PM 0 Read More...

Sprint confirms in talks on potential sale to Softbank

By Taro Fuse and Sinead Carew TOKYO/NEW YORK | Thu Oct 11, 2012 12:00pm EDT TOKYO/NEW YORK (Reuters) - Japanese mobile carrier Softbank Corp and U.S. operator Sprint Nextel Corp are in talks about a deal that could see Softbank assume control of Sprint. A deal would give Softbank a much-desired toehold in America and help Sprint fund costly upgrades to its network a...

11 Oct 4:52 PM 0 Read More...

Icahn offers to buy Oshkosh Corp for $32.50 a share

By Scott Malone Thu Oct 11, 2012 11:58am EDT (Reuters) - Activist investor Carl Icahn on Thursday offered to buy all outstanding shares of U.S. truckmaker Oshkosh Corp (OSK.N) for $32.50, a 21 percent premium to their Wednesday closing price. Icahn, who is already Oshkosh's largest shareholder with a 9.45 percent stake, said that he plans to nominate a slate of directors for...

11 Oct 4:52 PM 0 Read More...

Jobless claims fall to lowest in four and a half years

By Doug Palmer WASHINGTON | Thu Oct 11, 2012 12:36pm EDT WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell sharply last week to the lowest level in more than four and a half years, according to government data on Thursday that suggested improvement in the labor market. The news could help President Barack Obama in his ti...

11 Oct 4:52 PM 0 Read More...

World economy to improve only slightly next year: Reuters poll

By Andy Bruce LONDON | Thu Oct 11, 2012 12:06pm EDT LONDON (Reuters) - Next year offers only a slight improvement for a global economy hit by recession in Europe and slowing or moribund growth in Asia and the United States, according to Reuters polls of hundreds economists worldwide. After reaching 3.1 percent this year, world economic growth is expected to hit 3.4 ...

11 Oct 4:52 PM 0 Read More...

Stock futures advance after four-day skid, data on tap

By Chuck Mikolajczak NEW YORK | Thu Oct 11, 2012 7:34am EDT NEW YORK (Reuters) - U.S. stock index futures rose on Thursday, indicating the S&P 500 may snap a four-day slide ahead of data on the labor market. * The benchmark S&P index has shed 2 percent over the past four sessions, its biggest four-day drop since late July, amid concern about the impact of sl...

11 Oct 11:52 AM 0 Read More...

Exclusive: Bentley, Lamborghini may delay SUVs - sources

By Andreas Cremer BERLIN | Thu Oct 11, 2012 7:13am EDT BERLIN (Reuters) - Bentley and Lamborghini's plans to develop ultra-luxury SUVs may be put on hold to save cash for parent Volkswagen, company sources said, in a sign that the crisis is beginning to bite even for the German auto giant. U.K.-based Bentley and the Italian supercar maker rolled out extravagant conc...

11 Oct 11:52 AM 0 Read More...

Japan's Softbank in talks for $12.8 billion Sprint stake

TOKYO | Thu Oct 11, 2012 7:32am EDT TOKYO (Reuters) - Softbank Corp (9984.T), Japan's third-largest mobile carrier, is in talks to buy a majority stake in U.S. telecoms company Sprint Nextel Corp (S.N) in a deal worth more than 1 trillion yen ($12.8 billion), a source with direct knowledge of the matter told Reuters on Thursday. A Softbank spokeswoman told Reuters the compa...

11 Oct 11:52 AM 0 Read More...

Back to drawing board after Berlin halts BAE, EADS deal

By Matthias Blamont and Jason Neely BERLIN/LONDON | Thu Oct 11, 2012 7:21am EDT BERLIN/LONDON (Reuters) - Europe's two biggest aerospace firms will go back to the drawing board to find new strategies after Germany stymied the world's biggest arms and aviation company merger. Britain's BAE Systems, which earns nearly half its revenue selling arms to the Pentagon, cou...

11 Oct 11:52 AM 0 Read More...