Business News

BATS exchange says accepting orders again

NEW YORK | Tue Aug 6, 2013 2:44pm EDT NEW YORK (Reuters) - U.S. exchange operator BATS Global Markets said on Tuesday afternoon its largest stock exchange was accepting orders again after an outage that lasted nearly an hour. BATS said it started accepting orders to the fully electronic BZX exchange, which month-to-date ...

06 Aug 6:57 PM 0 Read More...

ICE profit rises 7 percent on energy futures, CDS clearing

By John McCrank NEW YORK | Tue Aug 6, 2013 8:16am EDT NEW YORK (Reuters) - IntercontinentalExchange Inc (ICE.N), which is in the process of buying NYSE Euronext (NYX.N) for $8.2 billion, reported a 7 percent rise in second-quarter profit on Tuesday, helped by higher energy futures volumes and credit default swap clearing. Net income attributable to the Atlanta-based...

06 Aug 1:56 PM 0 Read More...

Tight U.S. crop supply squeezes ADM profits

By Tom Polansek CHICAGO | Tue Aug 6, 2013 9:38am EDT CHICAGO (Reuters) - Archer Daniels Midland Co (ADM.N), one of the world's largest agricultural trading houses, said on Tuesday that quarterly earnings fell as crop supplies tightened after the worst U.S. drought in more than half a century left harvests devastated. ADM and rivals such as Bunge Ltd (BG.N) are anxio...

06 Aug 1:56 PM 0 Read More...

Wall Street dips at open, catalysts sought

NEW YORK | Tue Aug 6, 2013 9:51am EDT NEW YORK (Reuters) - Stocks slipped at the open on Tuesday, following the year's lowest-volume session, as traders sought new catalysts to extend or sell the rally that took the S&P 500 to a record high last week. The Dow Jones industrial average .DJI fell 61.59 points or 0.39 pe...

06 Aug 1:56 PM 0 Read More...

U.S. trade gap hits three-and-half year low, may boost GDP growth

By Lucia Mutikani WASHINGTON | Tue Aug 6, 2013 9:14am EDT WASHINGTON (Reuters) - The U.S. trade deficit narrowed sharply in June to its lowest level in more than 3-1/2 years as imports fell and exports touched a record high, suggesting an upward revision to second-quarter growth. The Commerce Department said on Tuesday the trade gap fell 22.4 percent to $34.2 billio...

06 Aug 1:56 PM 0 Read More...

GM cuts Volt electric car price by $5,000 for 2014 model

DETROIT | Tue Aug 6, 2013 8:45am EDT DETROIT (Reuters) - General Motors Co (GM.N) said on Tuesday it is slashing the price of its Chevrolet Volt electric car by $5,000 to help boost demand for the plug-in hybrid in a segment still struggling to gain a foothold in the U.S. auto market. The price cut for the 2014 model will lower the price to $34,995, including delivery fees ...

06 Aug 1:56 PM 0 Read More...

Standard Chartered profits sag after $1 billion hit on Korea arm

LONDON | Tue Aug 6, 2013 4:32am EDT LONDON (Reuters) - Asia-focused bank Standard Chartered (STAN.L) took a $1 billion hit on the value of its Korean business on Tuesday, pulling its first half profits down nearly 16 percent from a year ago. Standard Chartered, which is based in London but makes more than 90 percent of i...

06 Aug 8:53 AM 0 Read More...

European shares steady, supported by good run of data

By Richard Hubbard LONDON | Tue Aug 6, 2013 4:03am EDT LONDON (Reuters) - European shares drew support from a steady improvement in the outlook for the euro zone economy on Tuesday as Australia cut interest rates to help its economy face the impact of slowing commodity demand from China. British and German industrial output data for June and an update on the health ...

06 Aug 8:53 AM 0 Read More...

Australian central bank cuts rates to record low

By Wayne Cole SYDNEY | Tue Aug 6, 2013 3:45am EDT SYDNEY (Reuters) - Australia's central bank cut its main cash rate by a quarter point to a record low of 2.5 percent on Tuesday as it tries to prepare the economy for life after the mining boom. The Australian dollar edged up on the news as the market had considered it almost certain the Reserve Bank of Australia (RB...

06 Aug 8:53 AM 0 Read More...

ECB has easing bias, not out of ammunition: Praet

FRANKFURT | Tue Aug 6, 2013 3:18am EDT FRANKFURT (Reuters) - The European Central Bank's forward guidance on low interest rates includes an easing bias and further cuts are an option if warranted by the inflation outlook, ECB policymaker Peter Praet said in a paper published on Tuesday. Praet, who has the influential economics portfolio among his tasks on the ECB's Executiv...

06 Aug 8:53 AM 0 Read More...