Business News

Productivity declines most in nearly two years

WASHINGTON | Thu Feb 7, 2013 8:33am EST WASHINGTON (Reuters) - U.S. nonfarm productivity fell in the fourth quarter by the most in nearly two years as output increased marginally despite steady gains in employment, the Labor Department said on Thursday. Productivity declined at a 2 percent annual rate, the sharpest drop since the first quarter of 2011 and a larger fall than...

07 Feb 5:56 PM 0 Read More...

Retailers' sales beat forecasts, but worries remain

By Phil Wahba Thu Feb 7, 2013 12:17pm EST (Reuters) - Many top retailers reported strong January sales on Thursday after offering merchandise and deals that drew in shoppers in spite of higher payroll taxes. But shares of many retailers fell as investors worried that the sales owed too much to margin-sapping discounts and that the tax hit to take-home pay would hurt spending...

07 Feb 5:56 PM 0 Read More...

Greenlight’s Einhorn sues Apple, seeks bigger payout

By Jennifer Ablan and Nicola Leske Thu Feb 7, 2013 11:20am EST (Reuters) – David Einhorn wants Apple to “think different” … about its cash. The hedge fund manager’s Greenlight Capital sued Apple Inc on Thursday, saying the company should give stockholders a bigger share of its huge cash pile. Apple shares, which had fallen 35 percent from mid-September through Wednesday, were up 0.9 ...

07 Feb 5:41 PM 0 Read More...

Greenlight’s Einhorn sues Apple, says has "cash problem"

07 Feb, 2013 Engage Newswire services provides the most relevant Business, Technology News and Press Releases on the web. For Engage Newswire services contact news@EngageNewswire.com For Immediate Release For Information Contact: Lori Thompson: PR@EngageNewswire.com Thu Feb 7, 2013 9:31am EST (Reuters) – Fund manager David Einhorn’s Greenligh...

07 Feb 5:41 PM 0 Read More...

Stock futures climb ahead of ECB, claims data

By Chuck Mikolajczak NEW YORK | Thu Feb 7, 2013 7:23am EST NEW YORK (Reuters) - Stock index futures advanced on Thursday, indicating the S&P 500 may rise for a third straight session ahead of a European Central Bank rate decision and data on the U.S. labor market. * The central bank is expected to keep rates unchanged, and the market will give more attention to ...

07 Feb 12:51 PM 0 Read More...

Asian shares, euro pause ahead of ECB decision

By Chikako Mogi TOKYO | Thu Feb 7, 2013 1:32am EST TOKYO (Reuters) - Asian shares and the euro paused from recent gains on Thursday, as investors awaited the European Central Bank's policy meeting later in the day and President Mario Draghi's view on euro zone growth prospects, optimistic that the worst may be over. "Risk assets traded heavily as market participants...

07 Feb 7:46 AM 0 Read More...

Boeing working on 787 battery changes for fire risk: WSJ

WASHINGTON/TOKYO | Thu Feb 7, 2013 1:40am EST WASHINGTON/TOKYO (Reuters) - Boeing Co (BA.N) is working on battery design changes that would minimize fire risks on its grounded 787 Dreamliner and could have the passenger jet flying again as soon as March, the Wall Street Journal reported. Separately, U.S. aviation regulators said they would allow Boeing to make a one-off 787...

07 Feb 7:46 AM 0 Read More...

Weaker yen helps keep Sony on course for profit target

By Tim Kelly TOKYO | Thu Feb 7, 2013 1:50am EST TOKYO (Reuters) - Sony Corp (6758.T) stuck with its full-year profit forecast as a weaker yen and asset sales underpinned earnings, offsetting weaker demand for its televisions, game consoles and other devices. Sony, which is doubling down on consumer electronics in a bid to revive the company, joined domestic rivals S...

07 Feb 7:46 AM 0 Read More...

Credit Suisse disappoints on poor trading result

ZURICH | Thu Feb 7, 2013 1:16am EST ZURICH (Reuters) - Credit Suisse (CSGN.VX) said on Thursday it will cut more costs, after fourth-quarter net profit missed expectations on sluggish results from its investment bank. The Zurich-based bank said it will slash spending by 4.4 billion Swiss francs ($4.83 billion) by the end of 2015, up from a previously-announced target of 4 b...

07 Feb 7:46 AM 0 Read More...

Showdown at Peugeot plant as strike splits workers

By Nicholas Vinocur AULNAY-SOUS-BOIS, France | Thu Feb 7, 2013 2:04am EST AULNAY-SOUS-BOIS, France (Reuters) - For workers on the assembly line at Peugeot's doomed Aulnay plant near Paris, starting their shift has become a daily test of nerves. Entering a factory that is set to close in 2014, they face jeers and threats, as well as eggs and other objects hurled by s...

07 Feb 7:46 AM 0 Read More...