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Updated: 3 years 3 weeks ago

GE pares off financial unit and returns to industrial roots

Fri, 04/10/2015 - 13:55
General Electric is getting out of the lending business, a major profit generator, as it focuses more on its industrial business and sheds a massive financial unit that had its own set of risks.
Categories: Business

Re-imposing sanctions on Iran not as easy as it might sound

Fri, 04/10/2015 - 13:55
Snap back? Not so fast. The biggest enforcement provision in the preliminary nuclear agreement with Iran is turning into one of the mostly hotly contested elements. And the debate barely involves Iran. ...
Categories: Business

China inflation steady, but so are calls for easing

Fri, 04/10/2015 - 13:55
China's consumer inflation held steady in March, but wholesale prices remained entrenched in deflation, signalling a favorable environment for further government stimulus.
Categories: Business

California drought-fighters turn to Australians for help

Fri, 04/10/2015 - 13:54
No wonder California is looking Down Under for help with its record drought. Unlike Australia, where water is tightly regulated and tracked by meters, usage in parts of California is unmonitored, urban supply remains cheap, and aquifers can be tapped by almost any landowner with a permit to drill a well.
Categories: Business

Stocks surge: Nikkei tops 20,000, Europe hits 15-year high

Fri, 04/10/2015 - 11:55
The stock market push was complemented by another low for euro zone bond yields, after Greece repaid a loan tranche to the International Monetary Fund to keep alive its hopes of more aid. Subdued Chinese inflation also led to talk of additional stimulus from Beijing, and upbeat data from major economies like the United States and Germany kept oil on course for a weekly gain of almost three percent.
Categories: Business

Alibaba forms automotive, 'smart living' business units

Fri, 04/10/2015 - 11:55
China's Alibaba Group Holding Ltd , the world's biggest e-commerce company, has formed an automotive unit and a 'smart living' division in the past week, the firm said on Friday, as it ramps up its cloud ...
Categories: Business

Mortgages may be a bright spot for U.S. bank results in first quarter

Fri, 04/10/2015 - 09:55
U.S. bank earnings likely got a lift from mortgage lending in the first quarter, as lower rates spurred a surge in applications to refinance home loans, one of several glimmers of hope for a sector that has lately struggled with weak growth. Most are expected to post relatively big profit increases excluding one-time items, according to average analyst forecasts from Thomson Reuters I/B/E/S after a year-ago period when results were depressed by weak mortgage and trading revenues. Mortgage banking revenue will probably be greater than people are expecting," said Paul Miller, an equity research analyst at FBR Capital Markets. The average 30-year mortgage rate fell as low as 3.63 percent in the first quarter of 2015, according to Freddie Mac's weekly mortgage market survey, reaching its lowest level since May 2013.
Categories: Business

China inflation flat in March, producer pricing power stays weak

Fri, 04/10/2015 - 09:55
China's inflation data for March produced small positive surprises, but remained tepid, with little sign that Beijing's easing measures to date have significantly cut worrisome deflationary pressure. In March, China's annual consumer inflation rate (CPI) stayed flat at 1.4 percent, above a poll's projected 1.3 percent. Producer prices (PPI) fell slightly less than projected, contracting 4.6 percent rather than the forecasted repeat of February's 4.8 percent pace. The March inflation data is the first in a batch of key economic data that will climax with release of first-quarter growth numbers on April 15.
Categories: Business

Mom sneaks kids to Mickey D’s amid fast-food backlash, won’t tell Dad

Fri, 04/10/2015 - 09:55
Once a month, she takes her two young children to McDonald's for inexpensive breakfasts or ice cream. The fact that young mothers like Wood are teaching their children not to tell their dads that they've been to McDonald's may underscore how hard it may be for the world's largest restaurant chain to remake its image and revive U.S. sales. To lure back consumers, McDonald's Corp's (MCD.N) new Chief Executive Steve Easterbrook recently pledged to eliminate chickens fed human antibiotics at its U.S. restaurants. Hottovy said he expects McDonald's to eventually turn around its business, but not within the next couple years.
Categories: Business

Hong Kong shares close at 7-yr high on hopes of fresh inflows

Fri, 04/10/2015 - 09:55
Hong Kong stocks closed on Friday at a seven-year high, posting their biggest weekly gain in more than three years, as the city's bourse expects investment quotas for mainland investors to rise by over ...
Categories: Business

Greece makes IMF payment, gets bank funds, but doubts remain

Fri, 04/10/2015 - 09:54
BRUSSELS/ATHENS (Reuters) - Greece made a crucial payment to the International Monetary Fund and won extra emergency lending for its banks on Thursday but it remained unclear whether Athens can satisfy skeptical creditors on economic reforms before it runs out of money. Euro zone partners gave Greece six working days to improve a package of proposed reforms in time for finance ministers of the currency bloc to consider whether to release more funds to keep the country afloat when they meet on April 24. After weeks of contradictory statements, Finance Minister Yanis Varoufakis announced that Athens was resuming the sale of state assets halted when a leftist-led government was elected in January, but would do so on different terms. He did not specify which tenders would go ahead and said the government wanted public-private joint ventures with a minimum investment commitment required from bidders, and the state retaining a stake to generate pension funds.
Categories: Business

Oil up on Iran, German data, but strong dollar curbs rise

Fri, 04/10/2015 - 07:55
Oil prices rose on Thursday on strong German economic data and uncertainty about negotiations on Iran's nuclear program, even as a strong dollar curbed oil's bounce a day after futures tumbled 6 percent. Also supportive was Iran saying it will only sign a final nuclear accord if all sanctions imposed over its disputed nuclear program are lifted the same day. "The German data provided some lift early because it comes even before the expected economic boost from central bank quantitative easing and any sign that an agreement with Iran isn't going to get done is bullish," said Phil Flynn, analyst at Price Futures Group in Chicago.
Categories: Business

U.S. jobless claims data point to strengthening labor market

Fri, 04/10/2015 - 07:55
Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 281,000 for the week ended April 4, the Labor Department said on Thursday. It was the fifth straight week that claims remained below 300,000, a threshold that is associated with a strengthening labor market. U.S. Treasury debt yields rose on the data and also as Greece's 450 million euro loan payment to the International Monetary Fund reduced safety bids for government debt.
Categories: Business

GE close to selling nearly all its real estate holdings: source

Fri, 04/10/2015 - 05:55
This would be the biggest commercial real estate deal since Blackstone's acquisition of office landlord Equity Office Properties Trust in 2007 for $39 billion, including debt. It comes as the Federal Reserve is widely expected to raise interest rates later in the year, pushing up financing costs. GE and Blackstone declined to comment. "We're in that sweet spot of 2007 when there's a lot of money, commercial real estate looks really attractive, and you could do some mega deals," said Ken Riggs, president of Situs RERC, a firm does commercial real estate valuations.
Categories: Business

Cramer: Hot money pouring out of these stocks

Fri, 04/10/2015 - 03:55
CNBC's Jim Cramer sees money pouring out of these stocks like lava, thanks to talks of takeovers and rumors. Could it be a time to add to your portfolio?
Categories: Business

China's economy may be in worse shape than you think

Fri, 04/10/2015 - 03:55
China's demand for metal is plunging, potentially an early indicator of trouble ahead for the world's second-biggest economy.
Categories: Business

Pincus's return to Zynga flabbergasts Wall Street

Fri, 04/10/2015 - 03:55
Zynga founder Mark Pincus will serve as CEO once again. And Wall Street is not taking kindly to the news.
Categories: Business

Nikkei trades above 20,000 for first time since April 2000

Fri, 04/10/2015 - 03:55
Japan's Nikkei share average rose above 20,000 for the first time in 15 years, supported by hopes for larger shareholder returns, recovery in domestic consumption and a positive tone in global equity markets. ...
Categories: Business

Where Big Oil is cutting back

Fri, 04/10/2015 - 03:55
The crash in oil prices has led to huge cuts in investment in spending on new exploration and production.
Categories: Business

Internet naming group asks FTC to investigate .sucks controversy

Fri, 04/10/2015 - 03:55
The group that oversees the Internet's naming and address system asked the FTC to review whether any laws have been broken in the roll out of a new .sucks domain.
Categories: Business