Latest Breaking Business News
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North America capable of making ‘OPEC NOPEC’
"We haven't really had the time to get the infrastructure going to catch up with the vast increase in domestic production," Drevna said in an interview. "We have to educate the folks to say, 'Look, we could be that swing producer.' We have the capability here in the United States, in North America, to make OPEC NOPEC." Since 2007, oil imports have fallen, with ...
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Valeant follows path set by Agrium by issuing common shares to finance a U.S. takeover
After the markets closed Tuesda, Valeant priced its US$2 offering of common shares: investors, most of whom came from outside Canada, were asked to pay US$85 for each of the 23.5 million shares that were on offer. At that price the shares were priced at a very slight premium to the close on May 24 (US$84.47), the last trading day before the news was announced. The shares -- Valeant is listed on ...
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I Guarantee It Mens Wearhouse Ousts Founder
Men's Wearhouse Inc. has dismissed its founder and executive chairman George Zimmer. In a terse release issued Wednesday, the company didn't give a reason for the abrupt firing of Zimmer, who built Men's Wearhouse from one small Texas store using a cigar box as a cash register to one of the nation's largest specialty retailers in men's clothing, with 1,143 ...
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Wall Street dips after recent rally as Fed statement looms
Federal Reserve statement and news conference. The Fed will release a policy statement at 2:00 p.m. EDT (1800 GMT), which will be followed soon after by a news briefing with Chairman Ben Bernanke. "The early morning action is not surprising given the fact that we've had two days of position jockeying ahead of the (Fed)announcement," ...
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US stocks mostly lower ahead of Fed news
US stocks have opened mostly lower as investors await the latest policy announcement from the US Federal Reserve later on Wednesday. Five minutes into trade, the Dow Jones Industrial Average dipped 20.53 (0.13 per cent) to 15,297.70. The broad-based S&P 500 slipped 2.06 (0.12 per cent) to 1,649.75, while the tech-rich Nasdaq Composite Index was up a scant 0.32 (0.01 per cent) at ...
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FedEx Delivers Strong Q4 Earnings Tops Expectations
business helped offset restructuring costs. Revenues matched Wall Street forecasts. FedEx also issued initial earnings growth guidance for the full-year 2013.The performance of package shipping bellwethers like FedEx and its rival United Parcel Service, Inc. ...
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Coca-Cola announces organizational changes
New Delhi, June 19 : Beverage major The Coca-Cola Company on Wednesday announced key organizational changes in the Pacific Group. These changes are effective July ...
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Futures Movers Oil edges up before inventory data Fed news
NEW YORK (MarketWatch) -- Crude-oil futures were slightly higher Wednesday before a much-awaited Federal Reserve decision and weekly supply data from the ...
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Plans for new food labelling system to combat UK obesity are dealt a blow as Cadbury and Coca-Cola reject traffic light plan
Plans to tackle UK obesity by introducing a standardised traffic-light food labelling system have been dealt a blow after Cadbury and Coca-Cola failed to sign up to the ...
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BSkyB investigated over BT claim it is withholding Sky Sports package
BT has complained that BSkyB is withholding its Sky Sports package, which includes live Premier League games. Photograph: Olly Greenwood/AFP/Getty ...
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BAE Systems rises nearly 2 despite denial of new EADS tie-up
is climbing higher on optimism at the Paris air show and talk of a renewed tie-up with EADS.The latter was soon shot down by an EADS spokesman. According to Reuters, Rainer Ohler ...
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Royal Mail staff vote against privatisation
The ballot, in which staff also voted nine-to-one in favour of a boycott of delivering competitors' mail, is likely to lead to a vote on strike action. Photograph: Christopher ...
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Deferring bank bonuses for 10 years sounds extreme – its not | Nils Pratley
HSBC's sub-prime punt seemed okay for the first five years - and the disgraceful money-laundering episode which started in 2004 wasn't made public until ...
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Reckless misconduct proposals will be in banking reform bill says PM
The government will amend a parliamentary bill to introduce the central recommendation of the banking commission to allow bankers to be jailed for reckless ...
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Mens Wearhouse Needs New Chairman
Men's Wearhouse said it fired Executive Chairman George Zimmer, who founded the company more than 40 years ago, sending the company's shares down 7 percent before the bell.The company, which gave no reason for the termination, also said it had postponed its annual shareholder meeting to renominate the existing slate of directors without Zimmer."The board expects to discuss with ...
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Get Ready for 3 Treasury Yields
Yields on 10-year Treasurys have lurched 50 basis points upwards since May on fears the Federal Reserve may start scaling back its asset purchasing program, and some economists now forecast yields could reach 3 percent by year-end. "We expect the 10-year Treasury yield to rise close to 3 percent by the end of the year," James Paulsen of Wells Capital Management said in a research note ...
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OUYA Disrupts Video Game Industry
Julie Uhrman, OUYA founder & CEO, explains how her $99 gaming console could give PlayStation and Xbox a run for their money by allowing developers to publish game apps to the ...
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Cramers Stocks to Watch FedEx
Don't start your trading day without finding out what CNBC's Jim Cramer is watching ahead of the opening bell. Today Cramer explains why he thinks FedEx is a "terrific company" after reporting its quarterly ...
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Rossen reports Retailers mislead with ‘sales’
When you see a sign reading 20-, 30-, or 40-percent off you assume you're getting a deal. But sale prices advertised by major retailers may not be deals at all, and customers are fighting back. NBC's Jeff Rossen ...
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FedEx shares dip on growth concerns
Handlers scan and affix a courier route label onto packages moving down the belt at the Marina Del Rey, California FedEx station December 12, ...
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EADS says window closed for new BAE merger attempt
At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once ...
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Lockheed Mitsubushi Heavy sign deal for F-35 assembly
Workers can be seen on the moving line and forward fuselage assembly areas for the F-35 Joint Strike Fighter at Lockheed Martin Corp's factory located in Fort Worth, Texas in this October 13, 2011 handout photo provided by Lockheed ...
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Mark Hulbert A contrarian take on earnings misses
This is true anytime, but it's worth remembering right now because companies are falling over themselves reducing their earnings guidance for the current quarter -- the one that will be over in just a couple of weeks. In ...
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Wall Street Eyes the Fed Futures Wobble
FOX Business: Capitalism Lives Here All eyes were on the Federal Reserve Wednesday as traders waited for any clues about when the central bank will begin trimming back on its bond purchases. Today's Markets As of 8:13 a.m. ET, Dow Jones Industrial Average futures fell 7 points to 15235, S&P 500 futures dipped 1.5 points to 1643 and Nasdaq 100 futures rose 2.3 points to 2991. The big ...
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Kodak Preps $406M Offering as it Eyes Bankruptcy Exit
Eastman Kodak Co on Tuesday said it will seek court approval for a $406 million rights offering that could give creditors a big equity stake in the company after it emerges from Chapter 11 bankruptcy protection. Kodak said creditors agreed to backstop an offering that would let the Rochester, New York-based company issue 34 million common shares at $11.94 each, equal to about 85 percent of the ...
Arizona Digest
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Arizona may need to use prison labor
With Arizona’s budget deficit at state level soaring past $3 billion and projections for the next few years suggesting it might reach $10 billion, due to a highly controversial decision by the state legislature to sell a number of public buildings and then lease them back. Fortunately, not all financial news and outlooks for the state are negative, one small border town called Douglas, may just have a solution to the cash crisis facing some municipalities across the state.
Arizona’s financial situation in the wake of the universally destructive Great Recession has become dire. Our deficit for 2010 is many times higher than what it was a few years ago, before the crash of late 2008, and because of this the state legislature has become desperate to save money by cutting budgets and raise money by selling public buildings. Read more
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