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  May 2012

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• Breaking News

  • Volatile Nikkei keeps Asian stocks on edge
    By Ian Chua SYDNEY (Reuters) - Asian stocks fell to one-month lows on Friday and the yen rebounded broadly as extreme volatility in the Nikkei kept investors on edge. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.4 percent and reached levels not seen since April 19, extending Thursday's 2.2 percent fall. Australian shares underperformed, sliding 1.6 percent. "There's a lot of volatility... from Japan, which is not good for market stability or confidence," said Stan Shamu, market strategist at IG in Melbourne. ...
  • Procter & Gamble brings back former CEO to fix company
    By Jessica Wohl (Reuters) - Procter & Gamble Co on Thursday brought back A.G. Lafley to run the world's largest household products maker, replacing Bob McDonald immediately in the midst of a major restructuring. Lafley is taking on the roles of chairman, president and chief executive officer, effective immediately, while McDonald is set to retire on June 30 after 33 years at P&G. The move comes as some investors have pushed for faster improvements from the maker of Tide detergent and Gillette razors. P&G unveiled a $10 billion restructuring program in February 2012. ...
  • Google faces new federal antitrust probe: source
    WASHINGTON (Reuters) - U.S. regulators are in the early stages of an antitrust probe into whether Google Inc, the top player in Web display advertising, breaks antitrust law in how it handles some advertising sales, a source told Reuters on Thursday. The source said that it was unlikely that the Federal Trade Commission had sent out civil investigative demands in relation to the probe, which would be the sign of a formal and more serious investigation. ...
  • Icahn seeks up to $7 billion for Dell bid
    By Michelle Sierra NEW YORK (Reuters) - Activist investor Carl Icahn and Southeastern Asset Management Inc have initiated talks with banks and asset managers to line up commitments for as much as $7 billion in bridge loans to back their leveraged recapitalization proposal for Dell Inc, banking sources told Thomson Reuters LPC on Thursday. Jefferies & Co is leading the deal. Icahn and Southeastern are looking to lock in the financing before Dell shareholders meet in July to vote on a rival take-private offer from CEO Michael Dell and Silver Lake Partners. ...
  • Private consumption helps German economy to meager growth
    By Sarah Marsh BERLIN (Reuters) - Robust private consumption helped Germany eke out meager growth in the first quarter, compensating for declines in both exports and investment, and is likely to remain a pillar of support for Europe's largest economy this year. Germany's gross domestic product (GDP) rose by 0.1 percent on the quarter and shrank by 1.4 percent on the year, final seasonally adjusted data from the Statistics Office confirmed. Private consumption added 0.4 percentage points to GDP, while gross capital investment deducted 0.3 points. Foreign trade added 0. ...
  • Wall Street sags, but ends off session lows; HP hits 52-week high
    By Angela Moon NEW YORK (Reuters) - Stocks slipped on Thursday but finished sharply off their session lows as a rally in Hewlett-Packard's shares offset worries about weak Chinese manufacturing data and the prospects of the Federal Reserve reducing its monetary stimulus. Trading was choppy as many traders were adjusting their positions ahead of the long holiday weekend. Markets will be closed on Monday for Memorial Day. Hewlett-Packard shares jumped more than 17 percent to a fresh 52-week high a day after the world's largest PC maker raised its outlook. ...
  • Sears losses mount, weighs sale of unit to shore up liquidity
    By Siddharth Cavale (Reuters) - U.S. retailer Sears Holdings cast bigger doubts on the progress of its turnaround after reporting a bigger-than-expected quarterly loss, hurt by cooler spring weather. Shares of the company, which also said it was considering selling its service contracts business, fell 12 percent to $51.41 in heavy trading after the bell. The disappointing results came just months after Chairman and controlling shareholder Eddie Lampert took over as chief executive from Louis D'Ambrosio, who stepped down due to a family member's health issue. ...
  • Salesforce.com's quarterly results disappoint Wall Street
    By Noel Randewich (Reuters) - Salesforce.com Inc's quarterly earnings and outlook disappointed investors as costs rise following a spree of acquisitions, sending its shares lower. Under Marc Benioff, Salesforce's CEO and founder, the company's fast revenue growth has made it a favorite with investors eager to own part of the growing trend among businesses to outsource their information technology needs - from servers to software, a phenomenon known as cloud computing. But Salesforce has struggled to earn consistent profits. ...
  • Goldman unveils checks on conflicts in bid to fix image
    By Lauren Tara LaCapra SALT LAKE City (Reuters) - After dozens of meetings with executives and regulators, 100,000 hours of employee training and an immeasurable amount of public grief, Goldman Sachs Group Inc's Lloyd Blankfein claimed success in putting the bank and his legacy as CEO back on track. At Goldman's annual meeting on Thursday, Blankfein unveiled details of a three-year review and overhaul of the bank's practices in dealing with clients, following high-profile missteps that tarnished its reputation in the aftermath of the financial crisis. ...
  • Former Goldman banker settles SEC 'pay-to-play' charges
    By Lisa Lambert and Jonathan Stempel WASHINGTON/CHICAGO (Reuters) - A former Goldman Sachs Group Inc. investment banker has agreed to a five-year securities industry ban and a record fine to settle Securities and Exchange Commission charges that he broke rules against influence peddling to win bond underwriting business in Massachusetts. Without admitting or denying wrongdoing, Neil Morrison, 38, accepted what the SEC said was the first industry ban for violating "pay-to-play" rules governing the $3.7 trillion municipal bond market. ...

This entry was posted on Monday, May 7th, 2012 at 2:03 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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