Business News

Icahn gets confidential look at Dell's books

Mon Mar 11, 2013 4:13pm EDT (Reuters) - Dell Inc has agreed to give Carl Icahn a closer look at its books, less than a week after the activist investor joined a growing chorus of opposition to founder Michael Dell's plan to take the world's No. 3 personal computer maker private. Dell shares were up 1.5 percent at $14.37 in afternoon trading, well above the take-private offer price o...

11 Mar 11:24 PM 0 Read More...

China politics keep central bank hawks at bay, for now

By Kevin Yao BEIJING | Mon Mar 11, 2013 5:10pm EDT BEIJING (Reuters) - Intense lobbying by central government agencies and debt-laden local governments is keeping People's Bank of China hawks in check after inflation jumped to a 10-month high, forcing the central bank to keep its monetary policy setting in neutral. Official data showed China's anemic pace of economi...

11 Mar 11:24 PM 0 Read More...

AIG shareholders win class-action status in lawsuit versus U.S.

By Jonathan Stempel Mon Mar 11, 2013 6:31pm EDT (Reuters) - Two groups of American International Group Inc (AIG.N) shareholders won class-action status from a federal judge on Monday in a $25 billion lawsuit by former Chief Executive Maurice "Hank" Greenberg over alleged losses caused by the U.S. government's bailout of the insurer. U.S. Court of Federal Claims Judge Thomas ...

11 Mar 11:24 PM 0 Read More...

Wall Street edges up, S&P 500 at highest level since October 2007

By Leah Schnurr NEW YORK | Mon Mar 11, 2013 1:49pm EDT NEW YORK (Reuters) - Wall Street inched higher on Monday as earlier weakness prompted some buying and investors pushed the S&P 500 to its highest intraday level since October 2007. By midday, the Dow Jones industrial average and the S&P 500 were trading in positive territory, continuing last week's rally...

11 Mar 6:17 PM 0 Read More...

Nomura to take Monte Paschi dispute to London: source

By Silvia Aloisi MILAN | Mon Mar 11, 2013 1:41pm EDT MILAN (Reuters) - Japanese bank Nomura (8604.T) is seeking to establish British jurisdiction for its dispute with Monte dei Paschi di Siena (BMPS.MI) over risky derivatives trades, a source close to the matter said on Monday. Nomura began proceedings in one of Britain's top court on March 1, the source said, speak...

11 Mar 6:17 PM 0 Read More...

Tycoons to exit TNK-BP, Rosneft closing this week: sources

MOSCOW | Mon Mar 11, 2013 10:03am EDT MOSCOW (Reuters) - Two of the tycoons who shared control of Russia's third largest oil producer with BP for much of the past decade will leave their management posts at the end of the week when their sale of the company to Rosneft is closed. Sources close to management said German Khan, a TNK-BP shareholder and the firm's de facto chief...

11 Mar 6:17 PM 0 Read More...

Boeing confident has permanent 787 battery fix: executive

ORLANDO, Florida | Mon Mar 11, 2013 10:55am EDT ORLANDO, Florida (Reuters) - Boeing Co (BA.N) is confident that proposed changes to the 787 Dreamliner will provide a permanent solution to battery problems that grounded its newest jet, a senior executive said on Monday. The U.S. planemaker has also made significant progress in pulling together a plan to launch a revamped ver...

11 Mar 6:17 PM 0 Read More...

Icahn says Dell agrees to confidential look at books

Mon Mar 11, 2013 10:06am EDT (Reuters) - Dell Inc has agreed to give Carl Icahn a closer look at its books less than a week after the activist investor joined a growing chorus of opposition to founder Michael Dell's plan to take the world's No. 3 personal computer maker private. Dell shares rose 0.8 percent to $14.27, above the take-private offer price of $13.65, after Icahn said on...

11 Mar 6:17 PM 0 Read More...

Stock futures fall on China data, Italy downgrade

By Angela Moon NEW YORK | Mon Mar 11, 2013 8:26am EDT NEW YORK (Reuters) - Stock index futures edged lower on Monday following last week's rally to record highs for the Dow as a credit downgrade of Italy and disappointing data from China curbed investors' enthusiasm. The S&P 500 .SPX climbed for a sixth straight day on Friday and ended nine of the past 10 weeks ...

11 Mar 1:16 PM 0 Read More...

Yum China recovery remains rocky even as online anger calms

By Adam Jourdan SHANGHAI | Mon Mar 11, 2013 8:53am EDT SHANGHAI (Reuters) - Chinese consumers' anger at KFC over a food safety scare has abated as the number of negative posts about the fast food chain owned by Yum Brands Inc on the country's most popular microblogging platform fell by two-thirds. China's h...

11 Mar 1:16 PM 0 Read More...