RSSCategory: News

Wall St. closes higher, driven by Apple, biotech

Wall St. closes higher, driven by Apple, biotech

REUTERS: U.S. stocks ended higher on Thursday, supported by gains in Apple and biotech shares, but nervousness ahead of a much-anticipated Federal Reserve meeting next week limited the advance. The Dow Jones industrial average rose 77.63 points, or 0.48 percent, to 16,331.2, the S&P 500 gained 10.2 points, or 0.53 percent, to 1,952.24 and the […]

September 10, 2015 | By | Reply More
Oil prices climb on falling US crude output

Oil prices climb on falling US crude output

NEW YORK: World oil prices rose on Thursday (Sep 10) as investors focused on a decline in US crude production instead of a bigger-than-expected jump in inventories. US benchmark West Texas Intermediate for October leaped US$1.77, or 4.0 per cent, to US$45.92 a barrel on the New York Mercantile Exchange. Brent North Sea crude for delivery in […]

September 10, 2015 | By | Reply More
US regulator says Takata recall plan could include other suppliers

US regulator says Takata recall plan could include other suppliers

WASHINGTON: A government plan to recall and replace millions of potentially deadly Takata Corp air bag inflators could compel other manufacturers to supply automakers with the safety devices, the top U.S auto safety regulator said on Thursday. Mark Rosekind, who heads the National Highway Traffic Safety Administration, told reporters that his agency will unveil the […]

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Avon in talks with private equity firms for stake sale: report

Avon in talks with private equity firms for stake sale: report

REUTERS: Cosmetics seller Avon Products Inc is in talks with various private equity firms to sell a stake in the struggling company, the Wall Street Journal reported. Avon is conducting an auction process for a private investment in public equity (PIPE), the WSJ reported, citing people familiar with the matter. The private equity firms include […]

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Deutsche Bank CEO to shy away from 'big bang' reform at board summit

Deutsche Bank CEO to shy away from 'big bang' reform at board summit

FRANKFURT: John Cryan, Deutsche Bank’s new chief executive, will not present “big bang” reforms when the supervisory board gathers Thursday evening, rather an acceleration of existing plans to shed assets and exit countries. The group’s 19-member supervisory board convened for a three-day retreat planned for the luxury Alpine resort near the Tegernsee lake south of […]

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Unions file new Wal-Mart labor complaint related to store closure

Unions file new Wal-Mart labor complaint related to store closure

REUTERS: Unions filed a second labor board complaint against Wal-Mart Stores related to its temporary closure of a California store, claiming the retailer discriminated against activist workers by not transferring them to nearby stores. The United Food & Commercial Workers International Union (UFCW), the AFL-CIO and a group of Walt-Mart workers filed the complaint to […]

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State-owned China automaker teams with US electric-car startup Atieva

State-owned China automaker teams with US electric-car startup Atieva

DETROIT: One of China’s largest state-owned automakers said Thursday it has opened a technology research center in California’s Silicon Valley and is teaming with U.S. electric-car startup Atieva to develop EVs for China and global markets. Beijing Electric Vehicle Co, an affiliate of government-owned BAIC Motor Corp Ltd , said its new tech center outside […]

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Wal-Mart finds 'material weakness' in controls over accounting of leases

Wal-Mart finds 'material weakness' in controls over accounting of leases

REUTERS: Wal-Mart Stores Inc said it found a “material weakness” in its controls over accounting for leases, which allowed for misapplication of accounting standards related to sale-leaseback transactions. In a quarterly regulatory filing on Wednesday, the company said it did not have sufficient controls in place to “properly identify and account for leases that were […]

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Nestle aims at crowded US market with new Nespresso plant

Nestle aims at crowded US market with new Nespresso plant

ROMONT, SWITZERLAND: With a new Nespresso plant to supply the bigger portions favored by drinkers in the United States and Canada, Nestle aims at grabbing hold of a rare hot spot in the tepid packaged food sector. The coffee-capsule maker’s third Nespresso plant, at Romont, nestling in a grassy valley between Switzerland’s Lakes Geneva and […]

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Ellen Pao won't appeal verdict in gender discrimination trial

Ellen Pao won't appeal verdict in gender discrimination trial

REUTERS: Ellen Pao, the former venture capitalist who lost a high-profile discrimination case against her former employer earlier this year, said on Thursday that she would not pursue an appeal of the court’s decision. Her lawsuit against one of the best-known U.S. venture firms, Kleiner Perkins Caufield & Byers, helped spark a wide and ongoing […]

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