| | |
| GE order book surges; may bode well for global manufacturing Friday, Jul 19, 2013 12:32 PM PDT  By Ernest Scheyder (Reuters) - General Electric Co on Friday unveiled a surprise jump in its backlog of orders for dishwashers, X-ray machines and scores of other industrial products, boosting the conglomerate's shares and stoking hopes for gains in manufacturing around the world. GE's presence in most parts of the global economy, including energy, finance, manufacturing and transportation, makes it a harbinger of macroeconomic trends. "Many customers have moved from the 'doing your homework' stage toward moving pen to paper and placing orders," said Morningstar analyst Daniel Holland. ... Full Story | Top |
| Microsoft shares hit by biggest sell-off since 2000 Friday, Jul 19, 2013 12:12 PM PDT  (Reuters) - Microsoft Corp shares fell more than 12 percent on Friday, their biggest plunge in 13 years, a day after the software company posted dismal quarterly results due to weak demand for its latest Windows system and poor sales of its Surface tablet. The sell off comes after the stock was riding at five-year highs and is the biggest in percentage terms since April 2000, when the world's largest software company was locked in an antitrust dispute with the U.S. government and the internet stock bubble was deflating rapidly. ... Full Story | Top |
| Canada investigators want rule changes after deadly rail crash Friday, Jul 19, 2013 12:12 PM PDT  By Julie Gordon (Reuters) - Canadian investigators issued their first recommendations on Friday after a devastating train wreck in Quebec, urging that trains hauling dangerous goods not be left unattended, and pushing for stricter guidelines on railway braking systems. Transportation Safety Board (TSB) investigators probing the July 6 disaster in the lakeside town of Lac-Megantic said the "braking force" applied to the train, which was hauling 72 tanker cars of crude oil, was insufficient to hold it in place. ... Full Story | Top |
| Thai navy denies allegation of Rohingya Muslim smuggling Friday, Jul 19, 2013 12:07 PM PDT  By Amy Sawitta Lefevre BANGKOK (Reuters) - Thailand's navy denied on Friday a Reuters report that its personnel were involved in a lucrative smuggling and trafficking network that exploits minority Rohingya Muslims fleeing persecution in Myanmar. The Reuters investigation, citing people smugglers and Rohingyas who made the journey, found that Thai naval security forces were involved in the smuggling of Rohingya Muslims. They have fled Myanmar, also known as Burma, in sharply growing numbers over the last year following outbreaks of religious violence at home. ... Full Story | Top |
| SEC says Steve Cohen failed to supervise two of his traders Friday, Jul 19, 2013 12:03 PM PDT  NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Friday accused hedge fund mogul Steven A. Cohen of failing to supervise two employees who are facing insider trading charges. The SEC's action said Cohen failed to supervise former portfolio manager Mathew Martoma and SAC Capital Advisors executive Michael Steinberg. The SEC charges are part of a long-running probe of Cohen and his $15 billion hedge fund by regulators and federal investigators in which nine one-time SAC employees have been charged or implicated. ... Full Story | Top |
| Honeywell cost cutting drives profit higher Friday, Jul 19, 2013 12:01 PM PDT  By Bijoy Anandoth Koyitty (Reuters) - Honeywell International Inc reported a stronger quarterly profit as it cut costs and sold more security systems for buildings and turbochargers for cars and trucks, nudging its shares to a lifetime high. The 13 percent increase in profit, helped by higher margins and a lower tax bill, beat analysts' expectations and the company raised the lower end of its full-year profit forecast. ... Full Story | Top |
| Wall St. after record highs, Microsoft shares weigh Friday, Jul 19, 2013 11:54 AM PDT  By Caroline Valetkevitch NEW YORK (Reuters) - The Dow and Nasdaq fell on Friday, led by losses in tech shares after disappointing results from Microsoft and Google. The S&P 500 was flat, as better-than-expected results from General Electric Co and Schlumberger NV helped to offset the tech losses. Microsoft Corp was the biggest drag on all three major indexes, with the Nasdaq showing the steepest declines. Google Inc also dragged on the S&P 500 and Nasdaq. Both reported earnings that fell short of expectations. ... Full Story | Top |
| One Asiana victim killed by a vehicle, not plane crash: coroner Friday, Jul 19, 2013 11:54 AM PDT  By Gerry Shih SAN MATEO, California (Reuters) - A teenage passenger on the Asiana Airlines jet that crashed in San Francisco died from injuries sustained after being run over by a motor vehicle, most likely a fire truck at the scene, local officials said on Friday. ... Full Story | Top |
| Community Health warnings could scuttle Health Management talks Friday, Jul 19, 2013 11:41 AM PDT By Deena Beasley (Reuters) - A warning from hospital operator Community Health Systems Inc of declining patient admissions and news that the U.S. government is stepping up a probe of how it handles Medicare patients will complicate efforts to buy rival Health Management Associates Inc, analysts said on Friday. They said a resulting 9 percent price drop in Community Health's shares together with lower earnings have significantly raised the cost of financing a deal. "This makes a deal much, much more difficult to do from a leverage perspective," said CRT Capital Group analyst Sheryl Skolnick. ... Full Story | Top |
| NYC funds pick State Street to replace BNY Mellon after FX flap Friday, Jul 19, 2013 11:30 AM PDT By Tim McLaughlin BOSTON (Reuters) - New York City pension funds have picked State Street Corp to safeguard $137 billion, replacing incumbent Bank of New York Mellon Corp , which was accused in 2011 of overcharging the funds on foreign currency trades. New York City Comptroller John Liu on Friday announced Boston-based State Street as the next master custodian for the five pension funds. The deal is pending successful contract negotiations. ... Full Story | Top |
| SAC says charges against Cohen have 'no merit' Friday, Jul 19, 2013 11:20 AM PDT  (Reuters) - The charges against billionaire hedge fund manager Steven A. Cohen have "no merit" and Cohen will fight them "vigorously," said a spokesman for Cohen's firm SAC Capital Advisors in a statement to the media on Friday. The statement came in response to charges from the U.S. Securities and Exchange Commission that Cohen failed to supervise two employees who are accused of insider trading. (Reporting By Emily Flitter; Editing by Gerald E. McCormick) Full Story | Top |
| U.S. court says reporter must testify in leak case Friday, Jul 19, 2013 11:09 AM PDT By Lawrence Hurley WASHINGTON (Reuters) - A federal appeals court ruled on Friday that the First Amendment right to free speech does not prevent a New York Times journalist from giving testimony in a high-profile government leak case. The ruling by the Richmond, Virginia-based 4th U.S. Circuit Court of Appeals is a win for the Obama administration, but it could hurt efforts by Attorney General Eric Holder to improve relations with the media. The Justice Department last week pledged to tighten its criteria for targeting journalists in leak cases. ... Full Story | Top |
| Detroit faces long road through bankruptcy, officials say Friday, Jul 19, 2013 10:33 AM PDT  By Nick Carey DETROIT (Reuters) - Michigan Governor Ricky Snyder and Detroit's emergency manager Kevyn Orr sought on Friday to assuage residents' concerns over the city's bankruptcy proceedings while acknowledging that a lengthy court battle awaits. "We're the comeback state in Michigan, but to be a great state we need… Detroit on the path to being a great city again," Snyder, a Republican, said at a press conference. On Thursday Detroit, a former manufacturing powerhouse and cradle of the U.S. ... Full Story | Top |
| SEC rejects settlement with fund manager Phil Falcone Friday, Jul 19, 2013 10:29 AM PDT  By Emily Flitter NEW YORK (Reuters) - The U.S. Securities and Exchange Commission voted to reject a deal its enforcement division had struck with once high-flying hedge fund manager Philip Falcone and his hedge fund Harbinger Capital Partners, according to a regulatory filing on Friday by Falcone's publicly traded company Harbinger Group Inc. The SEC has not released any public explanation of the decision, which the commission made in a closed-door meeting on Thursday. SEC spokesman Kevin Callahan did not respond to a request for comment. ... Full Story | Top |
| Judge denies BP effort to halt Gulf spill claim payouts Friday, Jul 19, 2013 10:21 AM PDT  By Kathy Finn NEW ORLEANS (Reuters) - A federal judge denied an attempt by BP Plc to suspend payments to people and businesses claiming damages related to the 2010 Gulf of Mexico oil spill, while an investigator looks into possible misconduct in the payout process. The payments are being made under a program set up under a settlement BP signed last year. Judge Carl Barbier, who is overseeing the consolidated spill-related civil case against BP and its contractors, ruled on Friday that there was nothing to prove the "mass of claims" was not being properly evaluated. ... Full Story | Top |
|
No comments:
Post a Comment