Business News

Exclusive: FAA nears decisive step in restoring 787 to flight

By Tim Hepher and Alwyn Scott Wed Apr 17, 2013 10:23pm EDT (Reuters) - U.S. regulators are close to approving a key document that could start the process of returning Boeing Co's grounded 787 Dreamliner to service within weeks, according to several people familiar with the matter. Approval of the document, known as a Proj...

18 Apr 5:26 AM 0 Read More...

EBay second-quarter forecast disappoints, shares slip

By Alistair Barr SAN FRANCISCO | Wed Apr 17, 2013 7:06pm EDT SAN FRANCISCO (Reuters) - EBay Inc on Wednesday gave a disappointing earnings forecast for the second quarter and said Europe was weak, pushing its shares lower in after-hours trade. The e-commerce company forecast a second-quarter profit of 61 to 63 cents per share and revenue of $3.8 billion to $3.9 bill...

18 Apr 12:22 AM 0 Read More...

Bank of America revenue drops, legal settlement stings

By Rick Rothacker and Tanya Agrawal Wed Apr 17, 2013 6:53pm EDT (Reuters) - Bank of America Corp's (BAC.N) revenue fell across almost all its businesses in the first quarter, and the bank was hit yet again by mortgage mess cleanup costs, showing the difficulties Chief Executive Brian Moynihan faces in moving past the housing crisis. Many of the bank's revenue generators - in...

18 Apr 12:22 AM 0 Read More...

Exclusive: Guggenheim advises on Hulu sale, may also bid – sources

By Ronald Grover LOS ANGELES | Wed Apr 17, 2013 6:41pm EDT LOS ANGELES (Reuters) – Hulu has hired Guggenheim Partners to advise on a sale of the company, even as the financial services firm is considering making its own bid for the video streaming service, three sources with knowledge of the matter told Reuters. Guggenheim Executive Ch...

18 Apr 12:06 AM 0 Read More...

Wall Street slips at open on earnings, commodities

By Chuck Mikolajczak NEW YORK | Wed Apr 17, 2013 10:11am EDT NEW YORK (Reuters) - Stocks dropped on Wednesday, retreating from their second-best daily performance of the year in the prior session after a batch of disappointing earnings reports and another drop in commodities. Bank of America Corp (BAC.N) declined 4 percent to $11.79 as the worst performer on the Dow...

17 Apr 2:19 PM 0 Read More...

South Korea to buy $1.6 billion worth of Boeing helicopters

SEOUL | Wed Apr 17, 2013 9:12am EDT SEOUL (Reuters) - South Korea said on Wednesday it would buy attack helicopters worth 1.8 trillion won ($1.6 billion) from Boeing Co. (BA.N) to improve its ability to respond to threats from North Korea. The decision to buy the new helicopters was initiated before tension between North and South Korea rose sharply after North Korea's thir...

17 Apr 2:19 PM 0 Read More...

Germany launches tax probes against Credit Suisse employees

ZURICH/FRANKFURT | Wed Apr 17, 2013 8:55am EDT ZURICH/FRANKFURT (Reuters) - German prosecutors are investigating employees of Credit Suisse and its units Clariden Leu and Neue Aargauer Bank on suspicion of helping Germans evade taxes. The probe was launched in response to findings gleaned from Swiss bank data acquired by officials in the German state Rhineland-Palatinate in...

17 Apr 2:19 PM 0 Read More...

Bank of America profit misses estimates as revenue falls

By Rick Rothacker and Tanya Agrawal Wed Apr 17, 2013 8:43am EDT (Reuters) - Bank of America Corp reported a lower-than-expected first-quarter profit and its revenue fell, sending the No. 2 U.S. bank's shares down 3 percent before the bell on Wednesday. Net income quadrupled to $2.62 billion, or 20 cents per share, from $653 million, or 3 cents per share a year earlier as exp...

17 Apr 2:19 PM 0 Read More...

Tesco quits U.S. as profits fall for first time in 20 years

By James Davey and Kate Holton LONDON | Wed Apr 17, 2013 4:49am EDT LONDON (Reuters) - Tesco, Britain's biggest retailer, will exit its loss-making business in the United States, taking a $1.5 billion writeoff that caused its annual profit to fall for the first time in 20 years. The group also wrote down the value of its property in Britain by 800 million pounds and...

17 Apr 9:18 AM 0 Read More...

European stocks hit by growth fears, gold rebounds

By Richard Hubbard LONDON | Wed Apr 17, 2013 4:17am EDT LONDON (Reuters) - European shares sank by over one percent on Wednesday despite a recovery on Wall Street and across Asia, as investors positioned for sluggish growth in the euro area and ongoing monetary policy easing in the U.S. and Japan. However gold, which had touched its lowest level in more than two yea...

17 Apr 9:17 AM 0 Read More...