Business News

Tough path taken by Greece will pay off: Merkel

ATHENS | Tue Oct 9, 2012 9:32am EDT ATHENS (Reuters) - The tough path Greece is on will pay off, German Chancellor Angela Merkel said on Tuesday during a visit to Athens marred by clashes between police and protesters. In her first visit to Greece since the debt crisis erupted here in 2009, Merkel commended Athens for what she described as important reform successes, but sa...

09 Oct 1:56 PM 0 Read More...

Growth worries weigh on shares, Mid East tension lifts oil

LONDON | Tue Oct 9, 2012 3:51am EDT LONDON (Reuters) - A warning about the global growth from the IMF sent European shares lower for a second day on Tuesday despite a move by China to support its flagging economy, while escalating tensions between Turkey and Syria in the Middle East sent oil higher. The FTSEurofirst 300 index .FTEU3 of top European shares fell 0.2 percent a...

09 Oct 8:52 AM 0 Read More...

Japan car sales in China tumble, hit by islands row

By Fang Yan and Yoko Kubota BEIJING/TOKYO | Tue Oct 9, 2012 4:12am EDT BEIJING/TOKYO (Reuters) - Japanese car makers reported tumbling sales in China for September - with Toyota's almost halving - confirming the impact of a territorial row between the two countries and raising concerns about their future in the world's biggest auto market. Violent protests and calls...

09 Oct 8:52 AM 0 Read More...

Exclusive: AEG auction starts; Anschutz seeks bids in $10 billion range

By Nadia Damouni and Paritosh Bansal NEW YORK | Tue Oct 9, 2012 12:08am EDT NEW YORK (Reuters) - Billionaire Phil Anschutz has kicked off the auction of his Anschutz Entertainment Group, with an expectation that the sports and entertainment giant should draw bids in the $10 billion range, higher than previously believed, according to sources familiar with the situat...

09 Oct 8:52 AM 0 Read More...

IMF warns global economic slowdown deepens, prods U.S., Europe

By Emily Kaiser and Lesley Wroughton TOKYO | Tue Oct 9, 2012 4:17am EDT TOKYO (Reuters) - The IMF said the global economic slowdown is worsening as it cut its growth forecasts for the second time since April and warned U.S. and European policymakers that failure to fix their economic ills would prolong the slump. Global growth in advanced economies is too weak to br...

09 Oct 8:52 AM 0 Read More...

China options limited as U.S. panel outcasts Huawei, ZTE

Tue Oct 9, 2012 4:09am EDT (Reuters) - China's leading telecom equipment makers accused in a U.S. congressional report of being a potential security risk may face fresh scrutiny in other markets, while American firms operating in China could be vulnerable to retaliation. The U.S. House of Representatives' Intelligence Committee on Monday warned that China could use equipment made by...

09 Oct 8:52 AM 0 Read More...

Asian shares rise, growth worries cap

By Chikako Mogi TOKYO | Mon Oct 8, 2012 10:25pm EDT TOKYO (Reuters) - Asian shares rose on Tuesday but were capped by concerns over global growth prospects, especially in the world's second-biggest economy China, and expected weak U.S. corporate earnings. The International Monetary Fund cut its global growth forecast on Tuesday to a 3.3 percent expansion for 2012, d...

09 Oct 3:47 AM 0 Read More...

U.S. report dashes China telecoms' expansion hopes

By Jim Wolf WASHINGTON | Mon Oct 8, 2012 9:34pm EDT WASHINGTON (Reuters) - The U.S. ambitions of two Chinese telecom equipment makers were stopped in their tracks on Monday as a congressional report urged American companies to stop doing business with the firms, raising fears of retaliation from China. Huawei, the world's second-largest maker of routers and other te...

09 Oct 3:47 AM 0 Read More...

IMF cuts global growth forecast; prods Europe, U.S.

By Emily Kaiser and Lesley Wroughton TOKYO | Mon Oct 8, 2012 10:35pm EDT TOKYO (Reuters) - The IMF cut its global growth forecast on Tuesday for the second time since April and warned U.S. and European policymakers that failure to fix their economic ills would prolong the slump. Global growth is too weak to bring down unemployment and what little momentum exists is ...

09 Oct 3:47 AM 0 Read More...

Exclusive: Intel's McAfee security plans layoffs

By Jim Finkle BOSTON | Mon Oct 8, 2012 6:25pm EDT BOSTON (Reuters) - Intel Corp's McAfee security division is planning to lay off a "small percentage" of its workforce of about 7,100 employees, a company spokesman said on Monday. McAfee spokesman Ian Bain said he could not provide more information about the planned job cuts, which the world's No. 2 maker of anti-vir...

09 Oct 3:47 AM 0 Read More...