Business News

Deutsche Telekom sees huge synergies from MetroPCS deal: paper

FRANKFURT | Sat Nov 24, 2012 10:07am EST FRANKFURT (Reuters) - Germany's Deutsche Telekom AG (DTEGn.DE) expects the merger of its T-Mobile USA with MetroPCS Communications Inc (PCS.N) will reap "several billions of euros" in synergies, Telekom chairman Ulrich Lehner told a German weekly magazine. "The position of Deutsche Telekom in the USA will improve markedly as a result...

24 Nov 11:37 PM 0 Read More...

Knight Capital in talks for sale of market-making unit: WSJ

Sat Nov 24, 2012 10:42am EST (Reuters) - Knight Capital Group Inc (KCG.N) is in talks about possibly selling its market-making operation, its largest and most profitable business, the Wall Street Journal reported, citing people briefed on the discussions. The securities firm has been approached by at least two rivals about its market-making operation, which uses complicated computer...

24 Nov 6:31 PM 0 Read More...

Wall Street Week Ahead: Political wrangling to pinch market's nerves

By Rodrigo Campos NEW YORK | Fri Nov 23, 2012 8:53pm EST NEW YORK (Reuters) - Volatility is the name of this game. With the S&P 500 above 1,400 following five days of gains, traders will be hard pressed not to cash in on the advance at the first sign of trouble during negotiations over tax hikes and spending cuts that resume next week in Washington.President Bar...

24 Nov 3:17 AM 0 Read More...

Shoppers welcome early start to "Black Friday"

By Phil Wahba and Dhanya Skariachan NEW YORK/BLOOMINGTON, Minnesota | Fri Nov 23, 2012 7:07pm EST NEW YORK/BLOOMINGTON, Minnesota (Reuters) - Retailers declared their experiment with earlier store openings to kick off the holiday shopping season a success on Friday, with those new hours expected to be a Thanksgiving night staple for more retailers next year. Stores ...

24 Nov 3:17 AM 0 Read More...

Nine arrests in Walmart protest, business still brisk

By Jessica Wohl CHICAGO | Fri Nov 23, 2012 6:54pm EST CHICAGO (Reuters) - Nine people were arrested near a Walmart store in California on Friday as part of national protests for the rights of hourly workers, even as the world's largest retailer enjoyed what it said was its best ever start to the holiday shopping rush. Hundreds of protesters, including some Walmart w...

24 Nov 3:17 AM 0 Read More...

Wall Street ends higher in short session, led by techs

By Leah Schnurr NEW YORK | Fri Nov 23, 2012 4:13pm EST NEW YORK (Reuters) - Stocks rose for a fifth day during a holiday-shortened, thinly traded session on Friday as investors picked up recently beaten-down shares of large technology companies. Market participants were also encouraged by signs of progress in talks about releasing aid to debt-saddled Greece and pile...

23 Nov 10:15 PM 0 Read More...

Early birds grab bigger slice of retail pie

By Phil Wahba and Dhanya Skariachan NEW YORK/BLOOMINGTON, Minnesota | Fri Nov 23, 2012 4:48pm EST NEW YORK/BLOOMINGTON, Minnesota (Reuters) - An early start to the U.S. holiday shopping season boosted retailers as customers came with their families and loaded up carts on Thursday night, while later shoppers seemed more focused on sale items. Stores such as Target Co...

23 Nov 10:15 PM 0 Read More...

Analysis: Charges against BP employees test reach of U.S. statute

By Andrew Longstreth NEW YORK | Fri Nov 23, 2012 3:16pm EST NEW YORK (Reuters) - Not all manslaughter charges are created equal. If they were, the U.S. Justice Department might have filed just 11 charges when it brought a criminal case against two BP Plc employees last week, one for each of the 11 deaths in the Deepwater Horizon disaster. Instead, the government cha...

23 Nov 10:15 PM 0 Read More...

Walmart protests draw crowds, shoppers largely unfazed

By Jessica Wohl CHICAGO | Fri Nov 23, 2012 2:31pm EST CHICAGO (Reuters) - Protesters demanding higher wages and better healthcare for Walmart hourly workers converged on the retailer's stores across the United States, though there was no evidence they disrupted operations for the start of the crucial holiday shopping season. OUR Walmart, an organization backed by th...

23 Nov 10:15 PM 0 Read More...

Sandy dampens mood for many Black Friday shoppers

By Phil Wahba and Beth Pinsker Gladstone VALLEY STREAM, N.Y./BROOKLYN, New York | Fri Nov 23, 2012 4:47pm EST VALLEY STREAM, N.Y./BROOKLYN, New York (Reuters) - Malls across the United States teemed with shoppers looking for Black Friday bargains, but many in the New York area sat out the madness, too busy coping with the lingering effects of Superstorm Sandy. The G...

23 Nov 10:15 PM 0 Read More...