Business News

Delta among suitors for Virgin Atlantic stake: sources

By Rhys Jones and Charmian Kok LONDON/SINGAPORE | Mon Dec 3, 2012 8:55am EST LONDON/SINGAPORE (Reuters) - Singapore Airlines (SIAL.SI) is in talks to sell its 49 percent stake in British carrier Virgin Atlantic, with sources saying Delta Air Lines (DAL.N) is among the suitors keen to access Virgin's lucrative slots at London's Heathrow airport. Richard Branson's Vir...

03 Dec 2:47 PM 0 Read More...

Rating agencies win dismissal of Ohio funds lawsuit

Mon Dec 3, 2012 9:38am EST (Reuters) - The three major credit rating agencies won a fresh legal victory on Monday, a federal appeals court rejecting allegations by Ohio pension funds that they lost hundreds of millions of dollars on risky mortgage debt because they relied on flawed ratings. The 6th U.S. Circuit Court of Appeals in Cincinnati upheld the September 2011 dismissal of th...

03 Dec 2:47 PM 0 Read More...

News Corp names Robert Thomson CEO of publishing company

Mon Dec 3, 2012 8:45am EST (Reuters) - News Corp named Robert Thomson as the chief executive of its new publishing company. News Corp said in June it would separate its publishing and entertainment assets in response to shareholders who had pressed it to get rid of its troubled newspaper business.Thomson is currently managing editor of the Wall Street Journal and editor-in-chief of ...

03 Dec 2:47 PM 0 Read More...

Asian shares, euro rise after firm China data

By Chikako Mogi TOKYO | Sun Dec 2, 2012 10:19pm EST TOKYO (Reuters) - Asian shares and the euro rose on Monday as further signs of a stabilizing Chinese economy boosted investor risk appetite, offsetting worries that stagnant U.S. budget talks could threaten to derail the world's largest economy. A firm manufacturing survey from Asia's fourth-largest economy, South ...

03 Dec 4:41 AM 0 Read More...

Geithner predicts Republicans will yield on taxes

By Aruna Viswanatha and Thomas Ferraro WASHINGTON | Sun Dec 2, 2012 3:25pm EST WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner pushed Republicans on Sunday to offer specific ideas to cut the deficit, and predicted that they would agree to raise tax rates on the rich to obtain a year-end deal and avoid possible economic doom. But the top U.S. Republican, S...

03 Dec 4:41 AM 0 Read More...

More mannequins, less clutter at heart of JC Penney plan

By Phil Wahba NEW YORK | Sun Dec 2, 2012 3:57pm EST NEW YORK (Reuters) - More mannequins are on the floors of J.C. Penney stores. About 40,000 more. They are one of the most visible changes J.C. Penney Co Inc (JCP.N) Chief Creative Officer Michael Fisher has made to try to revive the 110-year-old department store chain, whose sales plunged 26.6 percent last quarter ...

03 Dec 4:41 AM 0 Read More...

RBS needs 10 years to return to private sector: Times

LONDON | Sun Dec 2, 2012 9:38pm EST LONDON (Reuters) - It will take a decade to fully return Royal Bank of Scotland (RBS.L) to the private sector, the state-owned lender has predicted, according to the UK's Times newspaper on Monday. The bank plans to be ready to start paying dividends in late 2014, the Times reported, without citing a source.After an additional 18 months o...

03 Dec 4:41 AM 0 Read More...

Starbucks says may pay more UK tax

By Tom Bergin LONDON | Sun Dec 2, 2012 12:53pm EST LONDON (Reuters) - Coffee chain Starbucks said it was considering changes to its UK tax practices, which allowed it to make billions in revenue while paying little in income taxes, following criticism from lawmakers, tax campaigners and the media. A Reuters examination of Starbucks accounts published in October show...

03 Dec 4:41 AM 0 Read More...

Wall Street ends flat as "fiscal cliff" focus lingers

By Rodrigo Campos NEW YORK | Fri Nov 30, 2012 5:22pm EST NEW YORK (Reuters) - The S&P 500 wrapped up its fifth positive month in the last six on Friday, although it ended the day flat as politicians remain at odds about how to avoid the so-called fiscal cliff. Trading has been choppy in the last two weeks as investors react to statements from policymakers on the...

01 Dec 2:12 AM 0 Read More...

Cliff fight may knock out December rally

By Chuck Mikolajczak NEW YORK | Fri Nov 30, 2012 7:56pm EST NEW YORK (Reuters) - In normal times, next week's slew of U.S. economic data could be a springboard for a December rally in the stock market. December is historically a strong month for markets. The S&P 500 has risen 16 times in the past 20 years during the month.But the market hasn't been operating und...

01 Dec 2:12 AM 0 Read More...