Business News Headlines - Yahoo! News

	Business News Headlines - Yahoo! News
	Switzerland close to deal in U.S. tax dispute: finance minister ZURICH (Reuters) - Switzerland is on the brink of a deal to settle a long-running dispute with U.S. authorities over Swiss banks accused of helping wealthy Americans evade billions of dollars of tax, the finance minister said on Saturday. "We hope that we will shortly be at the finishing line," Eveline Widmer-Schlumpf told Swiss radio in an interview. "The banks won't get it for nothing." Widmer-Schlumpf declined to say how high fines might be, but added: "It is clear that it will not be a pleasant solution. ... Read More » Politics, bribery charges swirl around Ugandan oil KAMPALA, Uganda (AP) — Even before the first drops flow, Uganda's oil sector is beset by bribery allegations against officials, tax-related cases abroad that cost the government millions in legal fees, and the alleged interference of a president whose firm control of the sector worries transparency campaigners. Read More » New Xbox more than a game console for Microsoft By Malathi Nayak and Bill Rigby SAN FRANCISCO/SEATTLE (Reuters) - Microsoft Corp is set to make a splash this week with the eagerly awaited unveiling of its new Xbox game console, eight years after the last version, as it seeks a larger share of the $65 billion a year global computer gaming industry. But the small device faces some big competition from the PlayStation 4 by Sony Corp and the Wii U by Nintendo Co Ltd in a shifting market. ... Read More » Google's wearable Glass gadget: cool or creepy? By Alexei Oreskovic SAN FRANCISCO (Reuters) - Google staged four discussions expounding on the finer points of its "Glass" wearable computer during this week's developer conference. Missing from the agenda, however, was a session on etiquette when using the recording-capable gadget, which some attendees faithfully wore everywhere - including to the crowded bathrooms. Google Glass, a cross between a mobile computer and eyeglasses that can both record video and surf the Internet, is now available to a select few but is already among the year's most buzz-worthy new gadgets. ... Read More » LATAM Airlines to resume Argentina flights later Saturday SANTIAGO (Reuters) - LATAM Airlines Group SA said on Saturday it will resume flights to, from and within Argentina by 1530 GMT after state company Intercargo unilaterally decided on Friday to stop providing services to the carrier. Argentine state company Intercargo manages services for the loading and unloading of luggage on airplanes, the transportation of passengers on buses to terminals, and provides the jet bridge services that connect aircraft to the airport, allowing passengers to embark and disembark. ... Read More » Bernanke upbeat on innovation outlook in commencement address WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke painted an upbeat picture on Saturday for the potential of innovation to lift living standards, delivering a sweeping look at the last 100 years that included memories of his 1963 South Carolina home. Bernanke made no reference to monetary policy or the immediate outlook for the U.S. economy in prepared remarks to graduates of Bard College at Simon's Rock, Massachusetts. But the die-hard baseball fan did manage to work in a reference to one of the sport's greats. ... Read More » Alpine in talks with FCC on financing: CEO VIENNA (Reuters) - Alpine, the Austrian unit of Spanish construction group FCC , will hold talks with its owners on how to meet its financing needs and has many options open, Chief Executive Arnold Schiefer said. He was responding to a newspaper report that FCC was worried about Alpine's finances and that Austria's second-biggest construction group had to come up with another 150 million euros ($192 million) this year despite reaching a deal with creditors in March. Alpine lost 450 million euros in 2012 as it began to exit unprofitable projects abroad. ... Read More » China April housing inflation quickens to two year high By Xiaoyi Shao and Michael Martina BEIJING (Reuters) - China's housing inflation accelerated to its fastest pace in April in two years, driven by a jump in prices in Beijing and Shanghai, complicating the task of policymakers trying to cool the property sector while supporting economic expansion. Average new home prices rose 4.9 percent last month from a year ago, after a year-on-year increase of 3.6 percent in March, according to Reuters calculations from data released by the National Bureau of Statistics(NBS) on Saturday. The rise was the sharpest since April 2011. ... Read More » Exclusive: EU cites Chinese telecoms Huawei and ZTE for trade violations By Daniel Bases NEW YORK (Reuters) - Europe's top trade official for the first time late on Friday officially cited Chinese mobile telecommunications equipment makers Huawei and ZTE Corp for violating anti-dumping and anti-subsidy guidelines. European Union Trade Commissioner Karel De Gucht said he was prepared to launch a formal investigation into anti-competitive behavior by these Chinese companies in order to protect a "strategic" sector of Europe's economy. ... Read More » Glance: Europe's Key Institutions Following the chaotic bailout of Cyprus, top European Union officials are saying it's time to rethink how the region manages its crisis — and who should be involved. Read More » Top officials call to overhaul euro institutions BERLIN (AP) — Engineering a financial bailout for Cyprus in March was such a chaotic process that top European officials say it is time to rethink how the region manages its crisis — and who should be involved. Read More » Report: Yahoo nearing $1.1B acquisition of Tumblr NEW YORK (AP) — Yahoo may be on the verge of closing its biggest acquisition during the 10-month reign of CEO Marissa Mayer as she tries to attract more traffic and advertisers to the Internet company's website and mobile applications. Read More » Caribbean talks conservation on Branson's island NECKER ISLAND, British Virgin Islands (AP) — Surrounded by a turquoise sea and a menagerie of exotic animals on a billionaire's private island, political and business leaders gathered Friday to back an initiative aimed at expanding protection for the Caribbean's imperiled coasts and waters. Read More » GM stock rises above $33 for first time in 2 years DETROIT (AP) — Shares of General Motors reached an important milestone on Friday, closing above their initial public offering price of $33 for the first time in more than two years. Read More » A year after IPO, Facebook aims to be ad colossus NEW YORK (AP) — It was supposed to be our IPO, the people's public offering. Read More » Photos: Frank Lloyd Wright Homes For Sale Frank Lloyd Wright may have died in 1959, but his architecture is alive and well. A recent story in the Wall Street Journal revealed the cost to upkeep some of his historic homes may be more than buyers bargain for, but others clamor to invest in history.         Read More » SAC Capital won't fully cooperate with government: letter By Emily Flitter and Katya Wachtel NEW YORK (Reuters) - Steven A. Cohen's hedge fund SAC Capital Advisors told investors on Friday it would no longer cooperate "unconditionally" with the U.S. government's insider trading investigation. In a brief letter to investors, the $15 billion hedge fund did not elaborate but said it believes the next few months will be critical in the investigation. The firm said that "over the coming months there will be more clarity about the outcome of these matters. ... Read More » Unemployment falls in 40 US states, rises in 3 WASHINGTON (AP) — Solid hiring helped lower unemployment rates in 40 U.S. states last month, the most since November. The declines show the job market is improving throughout most of the country. Read More » Gauge of US economy's future health up in April WASHINGTON (AP) — A measure of the U.S. economy's future health rose solidly in April, buoyed by a sharp rise in applications to build homes and a better job market. Read More » Martha Stewart Case Judge Ruling Favors JCP The judge presiding over the lawsuit against Martha Stewart and J.C. Penney ruled on Friday allowing the sale of Martha Stewart merchandise in J.C. Penney stores.         Read More » Couple Finds $100,000 in Safe Deposit Box An elderly couple in Brooklyn, N.Y., found a huge pile of cash–what they reckon was $100,000–in cash in a bank's safe deposit box. Joe Valinoti, 82, and his companion, Kathleen Ricigliano, 81, said they opened a safe deposit box account with Sovereign Bank in February....         Read More » 3 Indicted for Millions of Fake Marlboros Three men were indicted this week for shipping millions of packs of untaxed contraband Marlboro cigarettes that were part of a sting conducted by the FBI. Jia Yongming, Yazhou Wu, and Ricky Le were indicted by the U.S. Attorney's Office on Monday in a U.S....         Read More » Holy Grail of Books Could Fetch $30M A rare psalm book from 1640 could fetch between $15 million to $30 million at a Sotheby's auction on Nov. 26 in New York. "It's going to be far and away the most expensive book ever sold," David Redden, vice chairman of Sotheby's auction house,...         Read More » McDonald's Apologizes for Sad Big Mac Ad McDonald's has apologized for a Big Mac ad that enflamed the fast food giant in a whopper-sized controversy. The ad, a poster placed on Boston mass transit, featured a photo of a seemingly despondent woman with her head buried in her hands next to the...         Read More » Retail Sales Fall, Sending Stocks Down Retail sales fell by 0.4 percent in March, according to the Commerce Department, the biggest drop in nine months. The major stock market indexes slid on the news. Taxes went up at the beginning of the year for everyone who gets a paycheck and that...         Read More » Photos: Rock Icon's Former Home on Sale A former home of rock legend Stevie Nicks and silent-movie star Vilma Banky is on sale for $1.625 million. The 4-bedroom home in the Hollywood Hills has a guest apartment, sunset views and spans 3,538-square feet. Nicks purchased the property in the late '70s and recorded numerous demos there, according to Curbed. Banky reportedly lived there after it was built in the late '20s. The home was last purchased in December 2000 for $1.15 million.         Read More » A New Way to Buy Powerball Tickets Those Californians who missed out on the state's first Powerball drawing on Wednesday, which did not yield a winner, will have another chance at the estimated $60 million jackpot during the second drawing on Saturday. Homebound residents or anybody else who doesn't feel like visiting...         Read More » Investment Scam Hits NFL, NBA Stars Morning Business Memo… Dozens of current and former NFL and NBA players may have been the victims of an investment scam. FINRA – the Financial Industry Regulatory Authority – filed a cease-and-desist order against Success Trade Securities, alleging the online investment firm ripped off 58...         Read More » Tiger Woods Boosts Masters Prices With round one of the Masters Golf Tournament underway, tickets for the famous game in Augusta, Ga., are still being sold online today. Though ABC News' Darren Rovell reports prices on web sites like StubHub have dropped to $3,000 to $4,000 today, some badges were...         Read More » Microsoft Falls on PC Shipment Decline Microsoft Corp. shares took a beating today after Goldman Sachs issued a sell recommendation amid news that PC shipments dropped 14 percent in the first quarter, in part because Windows 8 hasn't caught on. Microsoft fell 5.1 percent to $28.75 at 2:35 p.m. Until today, it had been slightly...         Read More »

Earnings News Headlines - Yahoo! News

	Earnings News Headlines - Yahoo! News
	Swiss propose corporate tax reforms after EU pressure By Caroline Copley BERNE (Reuters) - Switzerland outlined plans on Friday to reform the way it taxes companies as it seeks to counter criticism from Brussels while trying to remain attractive to the many multinationals based in the country. The Swiss have lured thousands of foreign companies including online retailer eBay and trading giant Glencore by taxing foreign profits at a lower rate than domestic earnings, a practice known as "ring fencing". ... Read More » Nigeria's Fidelity Bank says Q1 pretax profit up 40 pct LAGOS (Reuters) - Nigeria's Fidelity Bank said on Friday its first-quarter pretax profit rose 40.42 percent year-on-year to 5.94 billion naira, up from 4.23 billion naira a year ago, the bank said. Gross earnings at the mid-tier lender rose to 31.43 billion naira during the three months as against 22.43 billion naira in the same period last year. Read More » Nigeria earns 621 bln naira in revenues in April ABUJA (Reuters) - Nigeria's government received 621 billion naira in revenues in April, up from 595.7 billion the previous month owing to improved earnings from domestic crude and a petroleum profit tax, the accountant general said on Thursday Accountant General Jonah Otunla said Nigeria had distributed 721.5 billion naira to its three tiers of government -- federal, state and local -- including funds from a repayment by the state oil firm and savings from lower fuel subsidy costs. Read More » Dell's 1Q earnings fall 79 pct as PC sales sag ROUND ROCK, Texas (AP) — Dell's earnings plunged 79 percent in the latest quarter as the shift to smartphones and tablets reduced demand for the company's personal computers. Read More » Wal-Mart U.S. sales weak; outlook below analysts' forecast By Jessica Wohl (Reuters) - Wal-Mart Stores Inc posted weaker-than-expected quarterly earnings on Thursday due to poor U.S. sales and said its profit for this quarter might also miss Wall Street's forecast. Everything from pressure on shoppers to a cool start to spring led to an unexpected 1.4 percent drop in sales at Walmart U.S. stores open at least a year. (Graphic on Wal-Mart earnings http://link.reuters.com/qan28t) Consumers with lower incomes have been especially squeezed by higher payroll taxes, consistently elevated gas prices and a shaky employment recovery. ... Read More » Stocks flip between gains and losses; Cisco climbs NEW YORK (AP) — Cisco Systems led the Dow Jones industrial average slightly higher Thursday after the technology company reported higher sales. Mixed corporate earnings and economic reports kept the major stock indexes flipping between slight gains and losses. Read More » S.Africa's Tongaat expects yearly earnings to rise JOHANNESBURG (Reuters) - South Africa's Tongaat Hulett said on Thursday it expected headlines earnings per share for the year to rise more than 14 percent, lifted in part by increased sugar production. The agri-processing company said in a trading statement sugar production rose by 9 percent to 1.25 million tons with major increases in Zimbabwe - the latest sign of an agricultural recovery in the country. Read More » Kenya's Diamond Trust Bank Q1 profit up 28 pct NAIROBI (Reuters) - Kenyan lender Diamond Trust Bank posted a 28 percent year-on-year jump in first-quarter profit, helped by growth in net interest income. Pretax profit for the three months to March 31 rose to 1.73 billion shillings after the bank's net interest income climbed 22 percent to 2.48 billion shillings. Kenyan banks expect an improvement on last year's results in 2013 after a peaceful election in March boosted business confidence in east Africa's biggest economy. Diamond Trust Bank's first-quarter earnings per share increased to 5.22 shillings, against 4. ... Read More » SABMiller Zimbabwe unit year earnings up 36 percent HARARE (Reuters) - SABMiller's Zimbabwe unit reported a 36 percent rise in full-year earnings on Wednesday, driven by strong sales of premium lager and non-alcoholic beverages. Delta Corporation, 38 percent owned by global brewing giant SABMiller, said earnings per share rose to 8.49 cents in the year ending March, up from 6.22 cents previously. After-tax profit rose to $104 million, compared to $72 million in 2012. Zimbabwe's economy, which had grown by nearly double digit figures from 2009 to 2011, was expected to grow 5 percent this year after a sharp slowdown in 2012. ... Read More » State Bank of Mauritius nine-month pretax profit up 18.3 pct PORT LOUIS (Reuters) - State Bank of Mauritius (SBM) said on Wednesday it expected demand for credit to suffer from a weak investment climate after posting an 18.3 percent rise in nine-month pretax profit. SBM, the Indian Ocean island's second-largest bank by market share, said pretax profit rose to 2.93 billion rupees in the first three quarters, driven mostly by an increase in net interest income. Earnings per share rose to 9.37 rupees from 7.70 rupees. SBM said in a statement it would continue to focus on geographical diversification and on using improved technology to increase efficiency. Read More » Mauritius conglomerate Rogers' first-half profits up sharply PORT LOUIS (Reuters) - Mauritius-based conglomerate Rogers' first-half pretax profit soared to 1.96 billion rupees from 135.7 million a year ago due to an exceptional item and improved performance in property prices, the firm said on Wednesday. Analysts said the rise was due to the reclassification of land for construction of villas to investment property and the inclusion of a stake in luxury hotels group New Mauritius Hotels in Rogers accounts. Earnings per share rose to 17.26 rupees from 11.63 rupees. Rogers stock closed higher at 189 rupees from 182.25 rupees on Tuesday. Read More » For Japan lenders, Abenomics' pain comes first, gain later By Taiga Uranaka TOKYO (Reuters) - Japan's top three banks forecast weaker annual earnings as aggressive monetary easing squeezes them out of a profitable government bond trade and forces them to rely more on bread-and-butter lending where margins remain razor-thin. ... Read More » Kenya's Co-op Bank Q1 pretax profit up 31 pct NAIROBI (Reuters) - Kenyan lender Co-operative Bank said on Wednesday profit jumped 31 percent in the three months through March, helped by growth in customer deposits and net interest income. The bank, rooted in the east African nation's co-operative movement which brings together farmers and workers, said it made a first-quarter pretax profit of 3.23 billion shillings. "The bank reported strong capital ratios and will continue retaining some of the earnings for expansion," Chief Executive Gideon Muriuki said in a statement. Net interest income rose more than 23 percent to 4. ... Read More » Centamin Q1 earnings jump 71 pct, operations on track LONDON (Reuters) - Gold producer Centamin, battling a legal ruling against it in Egypt, posted a 71 percent jump in quarterly earnings and said it was on track to meet its production guidance for the year. Centamin posted core earnings of $81.7 million for the first three months of 2013, up 71 percent on the same period last year, after it ramped up production at its sole producing mine in Egypt. The company is in the process of appealing a court ruling in Egypt which questioned its right to operate the mine and has wiped off more than half the value of its shares. ... Read More » Dell's first quarter earnings to come in below expectations: WSJ SAN FRANCISCO (Reuters) - Dell Inc will report on Thursday fiscal first-quarter earnings below expectations, the Wall Street Journal cited a person briefed on the company's results as saying. The world's No. 3 PC maker planned to report earnings excluding "some expenses" of 20 cents a share, lagging an average estimate for 35 cents, the Journal cited the unidentified person as saying. (Reporting by Edwin Chan; Editing by Gerald E. McCormick) Read More » Dell raises intrigue by rescheduling 1Q report ROUND ROCK, Texas (AP) — Struggling personal computer maker Dell will report its latest quarterly earnings ahead of schedule in a move likely to spur speculation that the results will be dismal. Read More » Kenyan shares dip on KCB, shilling steady By George Obulutsa NAIROBI (Reuters) - Kenya Commercial Bank (KCB) shares fell for the third straight session on Tuesday after the stock started trading ex-dividend. The shilling held steady. KCB, east Africa's largest bank by assets, recovered to close 5.3 percent lower at 40.50 shillings, after losing as much 8.8 percent. Stock analysts said that despite posting a 26 percent rise in its first quarter pretax profit, the earnings were below market consensus. ... Read More » Safaricom warns on mobile banking tax as profit surges By Duncan Miriri NAIROBI (Reuters) - Kenya's top telecoms firm Safaricom expects to maintain its almost 40 percent earnings margin this year but "premature taxes" could stifle growth of lucrative mobile phone-based money transfers, its chief executive said on Tuesday. Safaricom, 40-percent owned by Britain's Vodafone, said pretax profit climbed to 25.5 billion shillings in its year to end-march, off the back of 16 percent growth in total revenue. The company has had a very successful year. Its 39. ... Read More » Airbus sales drive Q1 profits at parent company PARIS (AP) — European aerospace company EADS said strong deliveries by airplane maker Airbus helped drive higher earnings in the first quarter and laid out the hope that the new A350 long-range aircraft should make its first flight this summer. Read More » Safaricom rallies on FY profit leap, shilling flat NAIROBI (Reuters) - Shares in Safaricom climbed 3.6 percent after Kenya's biggest telecoms firm posted a surge in full-year profit underpinned by strong growth in non-voice revenues. Safaricom, 40-percent owned by Britain's Vodafone, said pretax profit leapt 47 percent to 25.5 billion shillings on the back of a 16 percent growth in revenue. Its M-PESA money transfer system that uses mobile handsets was a "major revenue driver", it said, raking in some 22 billion shillings in revenue, about 18 percent of total earnings. ... Read More » Telecom Egypt says Q1 revenue up 1.4 pct, beats forecasts CAIRO (Reuters) - Telecom Egypt (TE) reported first-quarter revenue of 2.72 billion Egyptian pounds, up 1.4 percent from the same period last year and beating an average forecast of 2.59 billion based on five analysts' forecasts. The landline monopoly, in which the government owns 80 percent, on Tuesday posted a net profit of 858 million Egyptian pounds and earnings before interest, taxes, depreciation and amortization (EBITDA) of 947 million. The average forecast for the company, whose data services are helping offset lower fixed-line income, was for net profit of 595. ... Read More » Nigeria's UBA says Q1 pretax profit up 12 pct yr-yr LAGOS (Reuters) - Nigeria's United Bank for Africa (UBA) said on Monday its first quarter pretax profit rose 11.9 percent year-on-year to 17.15 billion Nigerian naira, up from 15.32 billion naira in the same period of 2012. Gross earnings at the top tier lender climbed to 62.7 billion naira during the first three months of 2013, as against 52.4 billion naira in the same period last year, it said in a filing with the local bourse. Read More » Silver Wheaton profit falls, shares down TORONTO (Reuters) - Shares of Silver Wheaton Corp fell more than 3 percent on Monday after first-quarter earnings came in slightly below expectations and the company changed its dividend policy to tie the payout to performance over a whole year. Silver Wheaton reported a 9 percent drop in first-quarter profit late on Friday, as silver equivalent sales lagged production. The Vancouver-based company, which helps finance mining projects in exchange for the right to buy future silver production at a set price, produced 8 million equivalent ounces, but sold just 6. ... Read More » New Mauritius Hotels' half-year profit drops 19 pct PORT LOUIS (Reuters) - Luxury hotels group New Mauritius Hotels (NMH) reported a 19 percent fall in first-half pretax profits on Monday, blaming reduced arrivals from Europe and high air ticket prices in the last three months. Ranked among the Indian Ocean island nation's most-traded stocks, NMH said its pretax profit fell to 841.5 million rupees in the six months to end-March, from 1.036 billion rupees in the same period a year earlier. Earnings per share fell to 4.65 rupees from 5.60 rupees a year ago. Shares in NMH closed lower to 77 rupees from 78 rupees. ... Read More »

FeedaMail: Business News Headlines - Yahoo! News

	Business News Headlines - Yahoo! News
	Consumer group flags high SPF ratings on sunscreen WASHINGTON (AP) — Sunbathers headed to the beach this summer will find new sunscreen labels on store shelves that are designed to make the products more effective and easier to use. But despite those long-awaited changes, many sunscreens continue to carry SPF ratings that some experts consider misleading and potentially dangerous, according to a consumer watchdog group. Read More » Analysis: High speed trading a stiff challenge for U.S. regulators By Christine Stebbins CHICAGO (Reuters) - Financial trading in world markets has grown so lightning-fast that effective regulation is growing tougher by the second, increasing the threat of crashes sparked by hoaxes, electronic glitches or yet-unknown causes. The latest alarm was triggered by a fake tweet saying that the White House was bombed, prompting a U.S. market nosedive that ended minutes later when the Associated Press said its Twitter account had been hacked. In 2010 U.S. stocks plunged in a "flash crash" following aggressive sales of stock-index futures by a mutual fund. ... Read More »

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