Business News

Stock futures imply flat open in wake of GDP data

By Ryan Vlastelica NEW YORK | Thu Feb 28, 2013 9:02am EST NEW YORK (Reuters) - U.S. stock index futures pointed to a flat open on Thursday as investors found few reasons to keep pushing markets higher following a sharp two-day rally and a read on economic growth that was weaker than expected. Analysts said a pullback may be in store a day after major equity indexes ...

28 Feb 2:33 PM 0 Read More...

Economy expands at weakest pace since 2011

WASHINGTON | Thu Feb 28, 2013 8:36am EST WASHINGTON (Reuters) - The U.S. economy barely grew in the fourth quarter although a slightly better performance in exports and fewer imports led the government to scratch an earlier estimate that showed an economic contraction. Gross domestic product expanded at a 0.1 percent annual rate, the Commerce Department said on Thursday, mi...

28 Feb 2:33 PM 0 Read More...

Jobless claims hint at improving labor market

WASHINGTON | Thu Feb 28, 2013 8:36am EST WASHINGTON (Reuters) - The number of Americans filing new claims for unemployment benefits fell more than expected last week, suggesting some traction in the labor market recovery. Initial claims for state unemployment benefits dropped 22,000 to a seasonally adjusted 344,000, the Labor Department said on Thursday. The prior week's cl...

28 Feb 2:33 PM 0 Read More...

Analysis: Cuts unlikely to deliver promised budget savings

By Andy Sullivan WASHINGTON | Thu Feb 28, 2013 7:04am EST WASHINGTON (Reuters) - On paper, there's one thing to like about the ugly spending cuts due to kick in on Friday: $85 billion in budget savings at a time when Washington continues to bleed red ink. In reality, the so-called "sequester" is likely to yield less than half that much in the short term.In part, tha...

28 Feb 2:33 PM 0 Read More...

Spain's Bankia shows recovery signs after record loss

Thu Feb 28, 2013 7:20am EST MADRID (Reuters) - Rescued Spanish lender Bankia (BKIA.MC) reported tentative signs of recovery on Thursday, even as huge writedowns on bad property assets led it to post the country's biggest ever corporate loss of 19.2 billion euros ($25.2 billion). Bankia, the focal point of Spain's banking crisis since it requested a state bailout in mid-2012, said de...

28 Feb 2:33 PM 0 Read More...

Barnes & Noble’s Nook, ebook sales fall 25.9 percent in quarter

28 Feb, 2013 Engage Newswire is dedicated to publishing the most up-to-date most relevant Press Releases, Business News and Technology News on the web. If you are interested in Press Release exposure contact PR@EngageNewswire.com Thu Feb 28, 2013 8:50am EST (Reuters) – Barnes & Noble Inc reported a quarterly net loss on Thursday, hurt by a s...

28 Feb 2:33 PM 0 Read More...

Shares, euro recover as markets nervously eye Italy

By Richard Hubbard LONDON | Thu Feb 28, 2013 3:33am EST LONDON (Reuters) - European shares, the euro and commodities edged higher on Thursday as sentiment improved across riskier asset markets but concerns over the political stalemate in Italy limited gains. Investors are nervous over whether the political gridlock that emerged from the Italian elections could hurt ...

28 Feb 9:30 AM 0 Read More...

Analysis: Cuts unlikely to deliver promised U.S. budget savings

By Andy Sullivan WASHINGTON | Thu Feb 28, 2013 1:06am EST WASHINGTON (Reuters) - On paper, there's one thing to like about the ugly spending cuts due to kick in on Friday: $85 billion in budget savings at a time when Washington continues to bleed red ink. In reality, the so-called "sequester" is likely to yield less than half that much in the short term.In part, tha...

28 Feb 9:30 AM 0 Read More...

Groupon shares crumple after dismal outlook, take-rate cut

By Alistair Barr SAN FRANCISCO | Wed Feb 27, 2013 7:45pm EST SAN FRANCISCO (Reuters) - Groupon Inc lost a quarter of its market value on Wednesday after the company revealed it began to take a smaller cut of revenue on daily deals during the holidays, sacrificing revenue and profits to attract and keep merchants. The cut in its "take rate", which some analysts had s...

28 Feb 9:30 AM 0 Read More...

Pentagon F-35 program chief lashes Lockheed, Pratt

By Jane Wardell AVALON, Australia | Thu Feb 28, 2013 1:31am EST AVALON, Australia (Reuters) - The Pentagon program chief for the F-35 warplane slammed the main contractors on the program, Lockheed Martin (LMT.N) and Pratt & Whitney, accusing them of trying to "squeeze every nickel" out of the U.S. government and failing to see the long-term benefits of the proje...

28 Feb 9:30 AM 0 Read More...