Business News

Chesapeake noteholders, BNY Mellon escalate bond battle

By Bernard Vaughan and Jonathan Stempel NEW YORK | Tue Mar 12, 2013 8:52pm EDT NEW YORK (Reuters) - Chesapeake Energy Corp (CHK.N) is facing a showdown with investors and a bond trustee over its plan to redeem $1.3 billion of notes early. The natural gas company, which faces a projected $3 billion cash shortfall this year, is hoping to avoid an extra $400 million of...

13 Mar 10:51 AM 0 Read More...

Boeing gets nod to test new 787 battery, wins big 737 order

By Bill Rigby SEATTLE | Tue Mar 12, 2013 11:22pm EDT SEATTLE (Reuters) - Boeing Co won approval from U.S. transport regulators on Tuesday to start testing a redesigned battery for the 787 Dreamliner, putting it one step closer to getting the troubled airplane back into regular service. Also on Tuesday, sources told Reuters the planemaker was close to signing a $15 b...

13 Mar 10:51 AM 0 Read More...

Asian shares ease, sterling remains vulnerable

By Chikako Mogi TOKYO | Tue Mar 12, 2013 11:28pm EDT TOKYO (Reuters) - Asian shares fell on Wednesday on investor concerns that the recent rally in global equities was running out of steam, while sterling clawed its way off lows but remained vulnerable after weak UK data fed fears of a triple-dip recession. Sentiment toward riskier assets was not completely soured, ...

13 Mar 5:50 AM 0 Read More...

S&P 500 dips after 7-day rally; Dow edges up to record high

By Caroline Valetkevitch NEW YORK | Tue Mar 12, 2013 7:31pm EDT NEW YORK (Reuters) - The S&P 500 ended lower on Tuesday, breaking a seven-session string of gains as investors pulled back from technology and financials, but the Dow eked out the smallest of gains to finish at another all-time closing high. The Dow also hit another lifetime intraday high, while the...

13 Mar 12:43 AM 0 Read More...

Apple’s iPad to fall behind Android as tablet war grows

By Noel Randewich SAN FRANCISCO |Tue Mar 12, 2013 5:33pm EDT SAN FRANCISCO (Reuters) – Shipments of tablets running Google Inc’s Android will overtake the iPad this year for the first time, research house IDC predicted on Tuesday, as Apple Inc cedes more mobile market share to hard-charging rivals around the globe. A growing variety of smaller and cheaper Android tablets from Google to Amaz...

13 Mar 12:43 AM 0 Read More...

EBay study questions value of Google’s main ad service

By Alistair Barr SAN FRANCISCO | Tue Mar 12, 2013 8:16pm EDT SAN FRANCISCO (Reuters) – EBay Inc, operator of one of the largest online marketplaces, questioned the value of Google Inc’s main advertising service in a recent study. EBay, one of the biggest Internet advertisers, released a study on Friday examining whether the paid sear...

13 Mar 12:43 AM 0 Read More...

Wall Street slips after seven-day rally, tech shares fall

By Caroline Valetkevitch NEW YORK | Tue Mar 12, 2013 3:27pm EDT NEW YORK (Reuters) - U.S. stocks edged lower on Tuesday as investors paused after a seven-session string of gains, led by losses in large-cap technology shares. Investors' confidence has grown in recent months, leading to a gain of more than 10 percent for the year by the Dow and nearly 9 percent by the...

12 Mar 7:39 PM 0 Read More...

Job openings rise in January on retail bounce back

WASHINGTON | Tue Mar 12, 2013 10:34am EDT WASHINGTON (Reuters) - A bounce back in vacant retail positions lifted the number of jobs open in the United States in January, but the overall tone continued to point to only a moderate improvement in the labor market. Job openings - a measure of labor demand - increased to a seasonally adjusted 3.7 million in January from 3.6 mill...

12 Mar 7:39 PM 0 Read More...

Credit Suisse reverses cautious stand on equities

NEW YORK | Tue Mar 12, 2013 2:18pm EDT NEW YORK (Reuters) - One month after turning cautious on global stock investing, the investment committee of Credit Suisse Group's (CSGN.VX) U.S. private bank has reversed course. "Plentiful liquidity, attractive valuations and low inflation make equities among our best options in an asset allocation context," a team led by Barbara Rei...

12 Mar 7:39 PM 0 Read More...

Equifax says probing unauthorized access of credit reports

WASHINGTON | Tue Mar 12, 2013 2:47pm EDT WASHINGTON (Reuters) - Credit reporting agency Equifax Inc (EFX.N) said on Tuesday it had launched an internal investigation after finding that four consumer credit reports had been fraudulently accessed. Equifax spokesman Tim Klein said the "fraudulent and unauthorized access" was related to media reports that a website published th...

12 Mar 7:39 PM 0 Read More...