26 Apr
Bin Laden family ‘deported from Pakistan’
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Breaking News- Yahoo joins growing list of bidders for Hulu: sourcesBy Ronald Grover and Greg Roumeliotis LOS ANGELES/NEW YORK (Reuters) - Yahoo Inc has submitted a formal proposal to buy Hulu, joining a growing list of bidders for the video service owned by News Corp and Walt Disney Co, two sources with knowledge of the bid told Reuters on Friday. Yahoo just this week announced a $1.1 billion acquisition of blogging service Tumblr. It now joins rival bidders for Hulu, including Time Warner Cable Inc, DirecTV, former News Corp president Peter Chernin and Guggenheim Digital Media, sources have said. It is unclear how much the Internet company bid. ...
- Durable goods orders point to factory resilienceBy Jason Lange WASHINGTON (Reuters) - Orders for long-lasting U.S. manufactured goods rose more than expected in April, a hopeful sign that a sharp slowdown in factory output could soon run its course. New orders for durable goods, which range from toasters to aircraft, increased 3.3 percent last month, the Commerce Department said on Friday. The data was the latest to show the U.S. economy exhibiting surprising resilience in the face of harsh fiscal austerity measures enacted this year. ...
- Wall Street wanes on Fed uncertainty, S&P dips for third dayNEW YORK (Reuters) - The S&P 500 declined for a third day on Friday with the three major stock indexes posting their first negative week since mid-April on lingering concern that the U.S. central bank may scale back its stimulus measures to support the economy. The Dow Jones industrial average edged up 8.60 points, or 0.06 percent, to end unofficially at 15,303.10. The Standard & Poor's 500 Index dipped just 0.91 of a point, or 0.06 percent, to finish unofficially at 1,649.60. The Nasdaq Composite Index inched down a mere 0.27 of a point, or 0.01 percent, to close unofficially at 3,459.14. ...
- New York claims more proof of bank mortgage abusesBy Karen Freifeld NEW YORK (Reuters) - New York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America Corp, Wells Fargo and Co and other banks violated the terms of a settlement designed to end mortgage servicing abuses. Schneiderman - who has said he plans to sue Bank of America and Wells Fargo for failing to live up to their obligations under the deal - said other states had found similar problems. ...
- Exclusive: Mall owner General Growth eyes NY's Madison Ave - sourcesBy Ilaina Jonas NEW YORK (Reuters) - General Growth Properties Inc has paired with Brookfield Office Properties in a bid for one of the most sought after Manhattan office buildings on the market, making what could be the mall owner's entry into the urban street retail real estate market, according to sources familiar with the deal. Bids for 650 Madison Avenue could exceed $1.3 billion, according to sources who were not authorized to speak publicly. The decision on the winning bid is expected next week, said one source. (Reporting by Ilaina Jonas)
- News Corp's publishing business to initiate stock buybackBy Jennifer Saba (Reuters) - News Corp set the distribution ratios for the spinoff of its publishing business, which may start buying back stock right away. The board of the publishing business, which will retain the News Corp name, authorized a $500 million stock repurchase program, the company said on Friday. The stock repurchase may shed light for analysts and investors who want to know how the new News Corp will use the $2.6 billion in cash it will have when the spinoff takes place. That is expected to occur on June 28. ...
- Senator urges 'extreme caution' on Softbank-Sprint dealWASHINGTON (Reuters) - An influential senator on Friday expressed strong concerns about Japanese company Softbank Corp's plan to buy 70 percent of Sprint Nextel, the No. 3 mobile service provider, warning it could expose the United States to more Chinese cyber attacks. "I have real concerns that this deal, if approved, could make American industry and government agencies far more susceptible to cyber attacks from China and the People's Liberation Army," Senator Charles Schumer said in a statement. ...
- Exclusive: DBRS to rate all euro zone sovereigns by year-endBy Luciana Lopez NEW YORK (Reuters) - DBRS plans to rate the credit of all euro-zone sovereigns by year-end, from the current 10 of 17, which will give the now-missing countries one more way for the ECB to weigh how valuable each nation's debt is as collateral. The move is part of a larger push at DBRS to rate more sovereigns, from the current 26 to closer to 50, including a broader expansion in Asia. "Our immediate target is to ensure that we have the whole euro zone covered," said Alan G. Reid, group managing director at DBRS. ...
- State Department posts feedback on Keystone pipelineBy Valerie Volcovici WASHINGTON (Reuters) - The State Department says it is taking the unusual step of releasing publicly the feedback it has received about a controversial pipeline project after an "unprecedented" response to its draft environmental report. The department said it had received more than 1.2 million comments on TransCanada Corp's proposed Keystone XL pipeline that would run from oil sands in Alberta, Canada to refineries and ports along the U.S. Gulf Coast. ...
- P&G CEO switch will not lead to big strategy change: CFO(Reuters) - Procter & Gamble Co said on Friday the surprise return of A.G. Lafley as chairman and chief executive was not an indication of any bigger problems at the world's largest consumer products maker. Lafley replaces Bob McDonald, effective immediately, at P&G, which is in the midst of a major restructuring. Shares of P&G were up nearly 4 percent at $81.81 on Friday after rising as high as $82.35. "This change very simply reflects Bob McDonald's decision to retire and the board's view that A.G. ...
- Yahoo joins growing list of bidders for Hulu: sources
