Business News

Walmart U.S. layaway sales strong before holiday season

By Jessica Wohl Wed Oct 10, 2012 10:59am EDT (Reuters) - Wal-Mart Stores Inc (WMT.N) has lined up $400 million in U.S. layaway sales in less than a month, half of the amount shoppers put on hold for all of the 2011 holiday season, as the world's largest retailer makes a concerted push to entice shoppers before the typical start of the holiday season. Shares of Wal-Mart jumpe...

10 Oct 3:33 PM 0 Read More...

Stock index futures flat; Alcoa eyed

PARIS | Wed Oct 10, 2012 4:38am EDT PARIS (Reuters) - Stock index futures pointed to a flat opening on Wall Street on Wednesday, with futures for the S&P 500 up 0.06 percent, Dow Jones futures down 0.07 percent and Nasdaq 100 futures up 0.02 percent at 4.30 a.m. EDT. European shares .FTEU3 slipped on Wednesday morning, down for the third day running, while the euro and ...

10 Oct 10:17 AM 0 Read More...

Wall Street falls in tech-led sell-off, Alcoa up late

By Rodrigo Campos NEW YORK | Tue Oct 9, 2012 7:25pm EDT NEW YORK (Reuters) - U.S. stocks fell on Tuesday, led by losses in technology after brokerage downgrades of Intel and other major companies as worries increased about third-quarter U.S. earnings. Shares of Intel (INTC.O), the world's largest semiconductor maker, lost 2.7 percent to $21.90 after negative reports...

10 Oct 12:08 AM 0 Read More...

U.S. sues Wells Fargo in mortgage fraud case

By Rick Rothacker and Aruna Viswanatha Tue Oct 9, 2012 7:31pm EDT (Reuters) - The U.S. government filed a civil mortgage fraud lawsuit on Tuesday against Wells Fargo & Co, the latest legal volley against big banks for their lending during the housing boom. The complaint, brought by the U.S. Attorney in Manhattan, seeks damages and civil penalties from Wells Fargo for mor...

10 Oct 12:08 AM 0 Read More...

Exclusive: Bain plans IPO for Bright Horizons - sources

By Olivia Oran and Soyoung Kim and Greg Roumeliotis NEW YORK | Tue Oct 9, 2012 6:56pm EDT NEW YORK (Reuters) - Private equity firm Bain Capital LLC is planning an initial public offering for Bright Horizons Family Solutions, a child care and early education provider it took private for $1.3 billion in 2008, according to three people familiar with the matter. Bain, c...

10 Oct 12:08 AM 0 Read More...

Cummins lowers sales forecast, to cut up to 1500 jobs

Tue Oct 9, 2012 6:59pm EDT (Reuters) - U.S. engine maker Cummins Inc (CMI.N) lowered its 2012 forecast for the second time this year, citing delays in customer spending due to a weakening global economy, and said it would cut up to 1500 jobs. Cummins now expects full-year sales of $17 billion, down $1 billion from its prior view."Investors expected a guidance cut from Cummins this q...

10 Oct 12:08 AM 0 Read More...

Wall Street falls as tech leads sell-off on earnings gloom

By Atossa Araxia Abrahamian NEW YORK | Tue Oct 9, 2012 2:25pm EDT NEW YORK (Reuters) - U.S. stocks fell on Tuesday, led by losses in technology after brokerage downgrades of Intel (INTC.O) and other major companies amid worries about third-quarter U.S. earnings. Shares of Intel, the world's largest semiconductor maker, lost 2.7 percent to $21.91 after negative repor...

09 Oct 7:01 PM 0 Read More...

BofA moves veteran to senior European client job

LONDON | Tue Oct 9, 2012 1:15pm EDT LONDON (Reuters) - Bank of America Merrill Lynch (BAC.N) named a long-standing capital markets specialist, Rupert Hume-Kendall, as chairman of its corporate and investment banking business in Europe, after a revamp of the division's management. Hume-Kendall, who in his 15 years at BofA ML has focused primarily on equity capital markets, t...

09 Oct 7:01 PM 0 Read More...

U.S. shadow homes inventory lowest in over three years: CoreLogic

NEW YORK | Tue Oct 9, 2012 9:48am EDT NEW YORK (Reuters) - The number of U.S. homes that could soon come onto the market fell to the lowest in more than three years as of July as distressed sales offset new delinquencies in an encouraging sign for the housing market, a data analyst firm said on Tuesday. The pending supply of homes, also known as shadow inventory, fell to 2....

09 Oct 7:01 PM 0 Read More...

U.S. to allow smaller banks more time for stress tests

By Emily Stephenson Tue Oct 9, 2012 1:05pm EDT (Reuters) - U.S. regulators on Tuesday approved a plan that would give smaller banks an extra year before they must begin conducting annual stress tests to determine if they can withstand a financial shock. Stress tests are intended to demonstrate how banks would cope with a crisis and are part of more rigorous testing required ...

09 Oct 7:01 PM 0 Read More...