Business News

Paulson hedge fund puts hotel unit in bankruptcy to escape lawsuit

By Jonathan Stempel Thu May 9, 2013 5:43pm EDT (Reuters) - Billionaire investor John Paulson has put a real estate unit of his hedge fund into bankruptcy to thwart a lawsuit by a lender that claims it is owed tens of millions of dollars related to the recent sale of several luxury resorts. According to filings late Wednesday in Manhattan bankruptcy court, MSR Hotels & Re...

09 May 10:27 PM 0 Read More...

Wall Street dips after rally; investors seek next catalyst

By Angela Moon NEW YORK | Thu May 9, 2013 12:59pm EDT NEW YORK (Reuters) - The S&P 500 edged lower on Thursday, coming off its record highs, as data showing signs of improvement in the labor market was not enough of a catalyst to add to the recent upward momentum. Utility and financial stocks were among the top decliners as investors unloaded some shares to take...

09 May 5:21 PM 0 Read More...

Fund manager Falcone's star dims with SEC deal

By Emily Flitter NEW YORK | Thu May 9, 2013 12:55pm EDT NEW YORK (Reuters) - Philip Falcone's fall from hedge fund stardom deepened on Thursday when a public company he controls disclosed that the billionaire investor had reached a preliminary settlement with U.S. securities regulators stemming from a probe into market manipulation. Falcone and his hedge fund, Harbi...

09 May 5:21 PM 0 Read More...

Ford tells shareholders to be patient about stock price

By Tom Hals WILMINGTON, Delaware | Thu May 9, 2013 12:41pm EDT WILMINGTON, Delaware (Reuters) - The executive chairman of Ford Motor Co (F.N) asked for patience from investors who pressed him about the company's languishing stock price at the automaker's annual meeting on Thursday. Despite 15 straight profitable quarters, Ford's share price has lagged the S&P 50...

09 May 5:21 PM 0 Read More...

Jobless claims hint at strengthening labor market

By Lucia Mutikani WASHINGTON | Thu May 9, 2013 12:39pm EDT WASHINGTON (Reuters) - The number of Americans filing new claims for jobless aid fell last week to its lowest level in nearly 5-1/2 years, signaling labor market resilience in the face of fiscal austerity. The job market buoyancy, flagged last week by a relatively strong April employment report, eased fears ...

09 May 5:21 PM 0 Read More...

Keep on, or enough already? Fed officials spar over QE3

By Ann Saphir and Luciana Lopez SAN FRANCISCO/NEW YORK | Thu May 9, 2013 12:38pm EDT SAN FRANCISCO/NEW YORK (Reuters) - Little over a week after U.S. Federal Reserve policymakers overwhelmingly endorsed a plan to keep buying bonds to spur economic growth and hiring, they are airing their differences over their super-easy policy. "I think we should try as hard as we ...

09 May 5:21 PM 0 Read More...

China inflation data shows central bank policy dilemma

By Kevin Yao and Xiaoyi Shao BEIJING | Thu May 9, 2013 2:38am EDT BEIJING (Reuters) - China's annual consumer inflation rose by more than expected in April while factory prices fell for a 14th consecutive month, highlighting the dilemma facing the central bank as it balances support for the economy against the threat of rising prices. With global growth sputtering, ...

09 May 7:11 AM 0 Read More...

Dubai Group creditors to own equity stake post-$10 billion deal

By Mirna Sleiman DUBAI | Thu May 9, 2013 2:29am EDT DUBAI (Reuters) - Dubai Group, an investment vehicle owned by the emirate's ruler, will be spun off as an independent company with creditors owning an equity stake after its planned $10 billion debt restructuring, a top official said. The company, which is a unit of Dubai Holding, the investment arm of Sheikh Moham...

09 May 7:11 AM 0 Read More...

Asian shares gain as upbeat global data, Wall Street buoy mood

By Chikako Mogi TOKYO | Thu May 9, 2013 1:41am EDT TOKYO (Reuters) - Strong Australian jobs data and a surprise interest rate cut by South Korea underpinned Asian shares on Thursday after Wall Street's extended record run, but prices were capped by concerns that a pick-up in inflation in China will limit its policy options. "Traders are growing ever more uneasy abou...

09 May 7:11 AM 0 Read More...

Japan's ANA will return Boeing Dreamliners to the air starting June 1

TOKYO | Thu May 9, 2013 1:19am EDT TOKYO (Reuters) - Japan's All Nippon Airways (9202.T) (ANA) said on Thursday it will return Boeing Co's (BA.N) 787 Dreamliners back to service from June 1 after the planes were grounded worldwide for more than four months. ANA, which is Boeing's biggest Dreamliner customer with 17 jets, also said it will introduce three international route...

09 May 7:11 AM 0 Read More...