Business News

Holiday shopping marathon starts as consumer sentiment remains shaky

By Brad Dorfman Thu Nov 22, 2012 7:57am EST (Reuters) - Forget that Turkey trot. Thanksgiving is now the start of the annual holiday shopping endurance race, as more stores open on Thursday's national holiday to seek a bigger share of spending that is expected to grow slowly this season. Target Corp has joined Wal-Mart and Gap Inc in being open at least part of the day, and ...

22 Nov 3:52 PM 0 Read More...

European shares lifted by China, U.S. factory data

LONDON | Thu Nov 22, 2012 3:38am EST LONDON (Reuters) - European shares extended a week-long rally on Thursday as manufacturing surveys in China and the United States boosted confidence over the global economic recovery. However, analysts said similar surveys for euro area activity due later are expected to show the region stuck in recession, which could sour sentiment, tho...

22 Nov 10:44 AM 0 Read More...

Holiday shopping marathon starts as consumer sentiment shaky

By Brad Dorfman Thu Nov 22, 2012 1:48am EST (Reuters) - Forget that Turkey trot. Thanksgiving is now the start of the annual holiday shopping endurance race, as more stores open on Thursday's national holiday to seek a bigger share of spending that is expected to grow slowly this season. Target Corp has joined Wal-Mart and Gap Inc in being open at least part of the day, and ...

22 Nov 10:44 AM 0 Read More...

Euro zone faces deepest downturn since early 2009

By Andy Bruce LONDON | Thu Nov 22, 2012 4:05am EST LONDON (Reuters) - The euro zone economy is on course for its weakest quarter since the dark days of early 2009, according to business surveys that showed companies toiling against shrinking order books in November. Service sector firms like banks and hotels that comprise the bulk of the economy fared particularly b...

22 Nov 10:44 AM 0 Read More...

China's manufacturing growth quickens; HSBC flash PMI at 13-month high

By Lucy Hornby BEIJING | Thu Nov 22, 2012 1:45am EST BEIJING (Reuters) - China's vast manufacturing sector saw expansion accelerate in November for the first time in 13 months, preliminary results from a factory survey showed, a sign that the pace of economic growth has revived after seven consecutive quarters of slowdown. The China HSBC Flash Manufacturing Purchasi...

22 Nov 10:44 AM 0 Read More...

Fitch cuts Sony, Panasonic debt ratings to "junk" status

By James Topham TOKYO | Thu Nov 22, 2012 5:22am EST TOKYO (Reuters) - Ratings agency Fitch downgraded the debt ratings of Japan's Sony Corp and Panasonic Corp to "junk" status citing weakness in their consumer electronics and TV operations, further diminishing the luster of the once-great Japanese brands. The cut to below investment grade, the first by a ratings fir...

22 Nov 10:44 AM 0 Read More...

Asian shares rise on firm China, U.S. factory data

By Chikako Mogi TOKYO | Wed Nov 21, 2012 10:22pm EST TOKYO (Reuters) - Asian shares rose on Thursday as a survey showed China's manufacturing sector expanded for the first time in 13 months in November, adding to optimism after firm U.S. factory data that the global growth slowdown may have turned a corner. MSCI's broadest index of Asia-Pacific shares outside Japan ...

22 Nov 5:43 AM 0 Read More...

S&P 500 gains for fourth session on light volume

By Angela Moon NEW YORK | Wed Nov 21, 2012 5:26pm EST NEW YORK (Reuters) - Stocks finished modestly higher on Wednesday, with the S&P 500 up for a fourth session, although volume was one of the year's lowest on the day ahead of the Thanksgiving holiday. Investors welcomed news that a ceasefire was declared to end the flare-up in violence between Israel and the P...

22 Nov 12:36 AM 0 Read More...

Legal, financial fallout loom for SAC in insider trading case

By Svea Herbst-Bayliss, Katya Wachtel and Emily Flitter BOSTON/NEW YORK | Wed Nov 21, 2012 5:59pm EST BOSTON/NEW YORK (Reuters) - The fallout from the latest insider trading case against a former SAC Capital Group employee could reverberate throughout Steven A. Cohen's $14 billion hedge fund and impact the billionaire trader himself even though he has not been charg...

22 Nov 12:36 AM 0 Read More...

Ally to sell Europe, Latin America operations to GM

Wed Nov 21, 2012 5:44pm EST (Reuters) - Ally Financial said it will sell its Europe and Latin America operations to GM Financial, a unit of General Motors, for about $4.2 billion. The combined operations in Europe and Latin America represented about $16.1 billion in assets at the end of the third quarter, Ally said in a statement.The transaction involves two companies that are still...

22 Nov 12:36 AM 0 Read More...