Business News

Lawmakers point to possible money laundering issues at Wal-Mart

WASHINGTON | Tue Aug 14, 2012 5:01pm EDT WASHINGTON (Reuters) - Two U.S. House Democrats investigating bribery allegations in Wal-Mart's Mexico affiliate said on Tuesday they have obtained new internal records that may point to evidence of tax evasion and money laundering. Reps. Elijah Cummings and Henry Waxman, who are ...

14 Aug 9:20 PM 0 Read More...

Wall Street higher after retail sales, Home Depot

By Edward Krudy NEW YORK | Tue Aug 14, 2012 11:15am EDT NEW YORK (Reuters) - Wall Street advanced on Tuesday after retail sales data suggested a return of consumer spending may lift economic growth and the world's largest home improvement chain Home Depot (HD.N) raised its profit forecast for the year. The data, which showed retail sales rose for the first time in f...

14 Aug 4:05 PM 0 Read More...

Retail sales gain hints at stronger growth

By Jason Lange WASHINGTON | Tue Aug 14, 2012 10:32am EDT WASHINGTON (Reuters) - Retail sales rose in July for the first time in four months as demand climbed broadly for everything from cars to electronics, a sign consumers could drive faster economic growth in the third quarter. Retail sales rose 0.8 percent last month, the largest gain since February and well abov...

14 Aug 4:05 PM 0 Read More...

Business inventories in June rise on auto restocking

Washington | Tue Aug 14, 2012 10:03am EDT Washington (Reuters) - Business inventories rose in June as car dealers restocked to meet demand, although sales at companies fell the most in over three years, the Commerce Department said on Tuesday. Inventories increased 0.1 percent to $1.58 trillion after rising by 0.3 percent in May.Economists polled by Reuters had forecast inv...

14 Aug 4:05 PM 0 Read More...

AMR CEO, creditors to meet Tues for restructuring update-sources

By Soyoung Kim and Nick Brown NEW YORK | Tue Aug 14, 2012 10:46am EDT NEW YORK (Reuters) - AMR Corp (AAMRQ.PK) Chief Executive Tom Horton is to meet creditors on Tuesday and provide an update on labor talks after pilots rejected a contract offer from the bankrupt parent of American Airlines last week, according to people familiar with the matter. Horton and other se...

14 Aug 4:05 PM 0 Read More...

Home Depot raises profit view, hopes for housing market

By Dhanya Skariachan Tue Aug 14, 2012 11:18am EDT (Reuters) - Cost controls and market share gains helped Home Depot Inc beat Wall Street's profit estimates for the latest quarter, prompting the No. 1 home improvement chain to raise its earnings outlook for the fiscal year. The retailer is also seeing improvements in California and Florida, states that were hit hard by the h...

14 Aug 4:05 PM 0 Read More...

Stock futures signal higher open; data eyed

Tue Aug 14, 2012 6:41am EDT Stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 rising 0.2-0.3 percent. U.S. buyout fund Carlyle Group (CG.O) and some of China's top private equity funds are targeting the biggest ever delisting of a New York-listed C...

14 Aug 10:52 AM 0 Read More...

Home Depot profit tops estimates despite sales miss

By Dhanya Skariachan Tue Aug 14, 2012 6:16am EDT (Reuters) - Home Depot Inc reported a higher-than-expected quarterly profit on Tuesday as the world's largest home improvement chain kept a tight lid on costs to offset weakness in sales. Net earnings rose to $1.53 billion, or $1.01 a share, in the second quarter ended July 29 from $1.36 billion, or 86 cents a share, a year ea...

14 Aug 10:52 AM 0 Read More...

Analysis: Oil price inflates as speculators bet on stimulus

By Christopher Johnson LONDON | Tue Aug 14, 2012 6:32am EDT LONDON (Reuters) - Oil prices are racing higher as investors bet that central bank cash will soon boost a market afraid of Middle East war and worried about North Sea supplies, but the rally looks increasingly inflated by speculative guesswork. Oil is up almost a third in six weeks at a time when the world ...

14 Aug 10:52 AM 0 Read More...

Standard Chartered CEO takes charge of Iran probe talks

By Matt Scuffham and Karen Freifeld LONDON/NEW YORK | Tue Aug 14, 2012 6:39am EDT LONDON/NEW YORK (Reuters) - Standard Chartered's Chief Executive Peter Sands has flown to New York to take personal control of the bank's attempts to reach a settlement with U.S. regulators over allegations it hid transactions involving Iran. Sands is also ready to attend a hearing set...

14 Aug 10:52 AM 0 Read More...