European Council President Donald Tusk says leaders promoting utopian "illusions" of a united Europe have lost touch with its peoples. Rough Cut (no reporter narration).
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Monday, May 30, 2016
Missouri governor pitches his state's rice to Cuba
Missouri Governor Jay Nixon brought a 20-ton donation of rice to Cuba for a business and agriculture forum in Havana. Rough Cut (no reporter narration).
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Billionaires take sides in the Gawker-Hogan fight
Two Silicon Valley billionaires, one an eBay co-founder and the other a PayPal co-founder, are battling it out over Gawker and Hulk Hogan.
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Friday, May 27, 2016
Best week since March for stocks
Stocks finished out the week with gains of more than two percent for the Dow and S&P 500, and more than three percent for the Nasdaq. Bobbi Rebell reports.
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Markets keep big weekly gain as Yellen hints of coming rate hike
Stocks put the finishing touches on the best weekly gain in just about three months as Federal Reserve chief Janet Yellen did little to alter expectations of a coming interest rate hike.
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Buy discount retailers in a slow-growth environment
Get set for slow growth and a range-bound stock market, says David Schiegoleit of U.S. Bank. He favors tech, consumer, and healthcare stocks.
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Fed rate hike likely appropriate - Yellen
The Federal Reserve should raise interest rates "in the coming months" if the economy picks up, said U.S. central bank chief Janet Yellen at an event hosted by Harvard University. Bobbi Rebell reports.
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Cellphones linked to cancer
A U.S. government study found low incidences of heart and brain tumors in male rats exposed daily to radio frequencies given off by cellphones. Fred Katayama reports.
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What can Putin bring to Greece?
Russian President Vladimir Putin arrives in Greece to sign oil and gas contracts - in a visit seen as signalling that both he and his hosts have options other than to rely on the West. Ivor Bennett reports.
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What does Brexit mean for Gibraltar?
Gibraltar fears Brexit would lead to economic decline and leave the border with Spain at the mercy of Madrid which continues to lay claim to the British overseas territory. But as Ivor Bennett reports, it's not just those on 'The Rock' who'll be affected.
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Signs of recovery despite French strikes
President Francois Hollande warned anti-reform protesters that he would not let them strangle the economy as a stand-off with unions deepens. But despite waves of strikes and demonstrations, French households are finally turning more optimistic as consumer confidence surged to its highest level since October 2007. Ivor Bennett reports.
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'Quack squad' hunts S African vine pests
A vineyard in Stellenbosch, South Africa is using an army of ducks to help control snails and pests attacking grapes. David Pollard reports.
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U.S. Foods added to NYSE menu
Food distributor U.S. Foods went public on Thursday in a billion dollar deal. It was the second largest initial public offering this year. Bobbi Rebell reports.
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G7 warn on global Brexit risks
G7 leaders warn a British exit from the European Union would be a serious risk to global economic growth, even though the issue wasn't formally discussed. Jacob Greaves reports.
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Thursday, May 26, 2016
Yellen will talk inflation, China-Envestnet's Jay Hummel
Envestnet's Jay Hummel, author of The Essential Advisor, talks with Bobbi Rebell about his outlook for the markets, and what investors should be paying attention to this summer.
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Dollar stores earnings flourish
More customers visited and bought more items at Dollar General and Dollar Tree, a stark contrast to slack sales at higher priced department store chains. Fred Katayama reports.
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Breakingviews: Facebook speech slip
Peter Thiel, a director of the social-media giant, funded wrestler Hulk Hogan's case against Gawker. Breakingviews columnists discuss the damage to Facebook's credibility as a media power.
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France digs in as strikes deepen
Unions say power output in France has fallen by at least 5 gigawatts after members of the CGT union at utility EDF joined a rolling nationwide strike against planned government reforms. But, as Ivor Bennett reports, the government is refusing to give in to their demands and may be trying to exploit union divisions.
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Oil tops $50 but how long for?
Brent oil futures climb above $50 a barrel for the first time in nearly seven months, boosted by U.S. government figures showing a sharper-than-expected drawdown in crude stocks. As Sonia Legg reports, it helped boost energy-related shares in Europe and Asia.
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G7: is anybody at the wheel?
Group of Seven leaders have voiced concern about emerging economies as their host, Japanese Prime Minister Shinzo Abe, makes a pointed comparison to the global financial crisis eight years ago. David Pollard reports.
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Wednesday, May 25, 2016
Stocks rally for second day
Higher oil prices and increased acceptance of a likely Fed rate hike helped stocks extend gains from Tuesday's session. Bobbi Rebell reports.
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Don't feel forced to go into risky assets - advisor
Investors fell they're not being responsible with their money, so they chase risky assets. Avoid that temptation, Scott Hanson of Hanson McClain Advisors tells Reuters' Fred Katayama.
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Tiffany's steep sales drop
The strong dollar hurt the luxury retailer's sales in the U.S. and key overseas markets like Hong Kong. Bobbi Rebell reports.
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Oil strikes push France into reserves
The stand-off between France's government and a hardline union over labour reforms has stiffened as the country mobilised strategic oil stocks for the first time in six years. As Ivor Bennett reports, employers also warned the protests were starting to hurt the economy.
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Microsoft cutting 1850 jobs
The job cuts and $950 million writedown will come from its smartphone unit, but Microsoft insists it's not hanging up on that business. Fred Katayama reports.
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Underaged tobacco farmers face hazardous conditions
For children helping on their familes' tobacco farms in Indonesia, hazardous conditions are a reality that won't change any time soon. Julie Noce reports.
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Toyota and Uber share ride to the future
Toyota is hitching a ride with ride hailing app Uber in the latest match making between car giants and tech giants.
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Tuesday, May 24, 2016
Strongest day in three months for stocks
U.S. stocks surged as investors made peace with a possible June rate hike. After the bell, Hewlett Packard Enterprise announced a spin-off of its services business. Bobbi Rebell reports.
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Domino's accused of stealing from workers
Domino's Pizza is being sued for making franchisees use a faulty computer system that resulted in more than half a million dollars in stolen wages, according to the NY state attorney general's office.
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Domino's Pizza faces allegations of wage theft
The New York Attorney General's office sued Domino's Pizza for wage theft and using a computer system that under-calculated workers' pay. Bobbi Rebell reports.
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The world's first functioning 3D-printed office building
Dubai says it has launched a prototype 3D-printed office building, with floorspace of about 2,700 square feet.
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It's time to buy mortgage-backed securities
Badly beaten mortgage-backed securities offer value and make a good investment in a rising rate environment, says Brad Friedlander of Angel Oak Capital Advisors.
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Will Greece get next bailout payment?
Greek government bond yields touched a six-month low ahead of a meeting of European finance ministers. As Sonia Legg reports, they're reviewing Greece's bailout and discussing the potential for a debt restructuring.
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Breakingviews: Snapchat's $20 bln message
Richard Beales and Rob Cyran discuss why the disappearing-chat service's latest price tag may have more staying power than some high-flying startup valuations.
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Anger as fracking gets green light in UK
Officials in a picturesque part of Northern England have given the green light to the first fracking operation in the country for five years, despite widespread opposition. Sarah Charlton reports.
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Best Buy issues weak outlook
An outperformer among retailers, Best Buy joined the pack with a weak profit forecast, and its star CFO is stepping down. Fred Katayama reports.
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Battle lines drawn in France oil strikes
French police using water cannon and tear gas break up a strike picket that was blocking access to a large oil refinery in the southern port area of Marseille. As Ivor Bennett reports, the government versus union showdown is about contested labour law reforms.
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Property bug, spending boost German GDP
Strong private consumption and higher construction investment drove a 0.7 percent rise in German gross domestic product in the first quarter, more than offsetting the effects of weaker foreign trade. As David Pollard reports, private consumption and construction investment is propelling growth.
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Monday, May 23, 2016
Power struggle at top of Viacom continues
The fight to control 93-year old Sumner Redstone's Viacom and CBS is intensifying with a new lawsuit brought by Viacom CEO Phillippe Dauman. Bobbi Rebell reports.
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Yields won't spike much even with Fed rate hikes
The yields on the 10-year Treasury will stay under 2 percent even if the Fed were to raise interest rates this year, says market economist Peter Cardillo.
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Government warns of Brexit recession risk
Treasury analysis has forecast a possible year long recession for the UK if voters choose to leave the EU. As Jacob Greaves reports, it's the latest government backed report to claim a Brexit would damage Britian's economy.
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Tribune rejects Gannett's bid again
The publisher of the Chicago Tribune rejected Gannett's latest takeover offer but left the door open, saying it would share confidential information. Fred Katayama reports.
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Breakingviews: Bayer beware
The German conglomerate is offering $62 bln for U.S. seed maker Monsanto. Kevin Allison and Jeffrey Goldfarb break down the value of the deal for both the buyer and seller.
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Fare war looms as Ryanair cuts prices
Ryanair, Europe's largest low-cost airline, is prepared for a fare war to break out later this year. As Hayley Platt reports, it's cutting its own fares sharply to increase its market share to sustain profits.
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Bayer offers $62bln for Monsanto
German drugs and chemicals group Bayer AG makes an offer to buy U.S. seeds company Monsanto Co for a total value of $62 billion including debt, to create the world's biggest agricultural supplier. Grace Pascoe reports.
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Obama trumpets new overtime rules in weekly address
U.S. President Barack Obama hails a new rule to extend overtime pay to 4.2 million American workers during his weekly address. Rough Cut (no reporter narration).
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Saturday, May 21, 2016
Apple's Tim Cook meets with Indian PM Modi
Apple Inc CEO Tim Cook holds a meeting with Indian Prime Minister Narendra Modi in New Delhi as his company looks for new growth markets. Rough Cut (no reporter narration).
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Stocks end week on high note
Wall St. rallied on Friday, led by tech stocks to end a volatile week on a positive note after several weeks of losses. Bobbi Rebell reports.
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Friday, May 20, 2016
Retailers brace to unload inventory
Profit could get squeezed even more as many retailers, including department stores, struggle to unload inventory and slash prices. Bobbi Rebell reports.
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Cash out now if you can't handle volatility
Market volatility could increase with anxiety over the next Fed rate hike. So move to fixed income or cash out if you think you can't take a 10 percent drop, says wealth advisor Ken Kamen.
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UKIP launches Brexit battle bus
UKIP launches Brexit battle bus, with leader Nigel Farage declaring that June 23 will be Britain's 'Independence Day' if the country votes to leave the EU. Rough Cut (no reporter narration).
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War of words as Venezuela crisis deepens
Venezuelan President Nicolas Maduro says former Uruguayan President Jose Mujica was right to say he was "mad as a goat," just for a different reason. As Laura Frykberg reports, the war of words comes as Venezuela's economic crisis deepens.
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Austria: EU's first far-right president?
Austrian voters decide this weekend whether to become the first European Union country to elect a far-right president. David Pollard reports.
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South Korea launches hangover cure ice cream
A South Korean convenience store launches a hangover-fighting ice cream marketed specifically to combat the after-effects of alcohol consumption. Holly Rubenstein reports.
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Yahoo may get low bids
Yahoo will likely get bids for its core Internet business that are far lower than what had been expected just last month, says the Wall Street Journal. Fred Katayama reports.
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Theater chain not liable in 2012 Colorado movie massacre
A jury decides the owners of a Colorado movie theater, Cinemark USA Inc., where a gunman killed 12 people during the 2012 screening of a Batman film, are not liable for the mass shooting. Jillian Kitchener reports.
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G7 to agree on 'go your own way' approach
G7 finance ministers meet to discuss fiscal policy, currencies and other global risks. As Kirsty Basset reports, they may shy away from discussing another key risk to the grouping: their failure to agree on any major policy initiatives.
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Thursday, May 19, 2016
S&P hits lowest level since March
Worries increased on Wall St. that the Federal Reserve might raise rates as early as June. Bobbi Rebell reports.
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As Verizon strike continues, 500 picket in NYC
Some 500 Verizon employees protest in Manhattan outside a media summit where Verizon executives were scheduled to speak, as talks to resolve one of the largest U.S. strikes in recent years continues between unions and the telecommunications giant. Rough Cut (no reporter narration).
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Time to lighten up on the dividend stocks - Hogan
Hard hit sectors like financials, tech and healthcare could soon take market leadership, so consider selling some of the dividend paying stocks, says Art Hogan of Wunderlich Securities.
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Dean Foods referred to as 'Dallas Cowboys' in alleged insider trading scandal: U.S. Attorney
U.S. Attorney Preet Bharara announced insider trading charges against Billy Walters, a professional Los Angeles gambler, and Tom Davis, ex-chairman of Dean Foods. Davis referred to his company as "Dallas Cowboys" during illegal conversations in an alleged insider trading scandal that involved golfer Phil Mickelson.
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Golfer Mickelson to repay profits made in alleged insider trading scheme: Feds
U.S. authorities announce insider trading charges against a professional Las Vegas gambler, and a former company chairman, also saying pro golfer Phil Michelson benefitted from their scheme. Rough Cut (no reporter narration).
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Why China magnate is buying Aston Villa
Chinese healthcare, tech and transport magnate Xia Jiantong has agreed to buy Aston Villa for around 100 million dollars. And as Graham Mackay reports, he has big plans for the club in his own country.
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French jobless rate dips amid reform bid
As President Hollande struggles to implement labour market reforms, unemployment in mainland France has edged under 10 percent for the first time since 2014. But, as David Pollard reports, the long-term jobless rate has climbed back towards record levels.
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Bayer makes move for Monsanto
German drug and chemicals giant Bayer has made an unsolicited takeover offer for Monsanto, the world's biggest seed company, as high inventories and low commodity prices spur consolidation in the global agrichemicals industry. Hayley Platt reports.
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Wal-Mart bucks trend
The world's largest retailer surprised Wall Street by solidly growing its revenue at a time when its big rivals have suffered from sluggish sales. Fred Katayama reports.
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Wednesday, May 18, 2016
Stocks close flat after Fed minutes
U.S. stocks recovered from intraday losses to close close to where they started after minutes from the Fed indicated an increased possibility of a June rate hike. Bobbi Rebell reports.
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Billionaire V.C. under fire in beach dispute
A battle over access to a prime piece of California coast has brought unwanted attention to one of the most prominent venture capitalists in Silicon Valley.
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Google wants help naming Android N app
Google wants help from the public to name its Android N app -- but Google's Dave Burke says "please don't call it Namey McNameface." #NameAndroidN
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Google says creating home entertainment device Google Home
Google is creating a home entertainment device called Google Home which will be available later this year, according to Mario Queiroz, vice president of product management at the search engine giant's annual development conference in Mountain View, California.
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Google unveils its Assistant and Google Home
Google CEO Sundar Pichai unveils Google Assistant and Google Home, new voice-interactive features and products that he says will have a "conversational understanding" of what their individual users want. Rough Cut (no reporter narration).
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Suzuki used wrong mileage tests for Japan
Suzuki Motor Corp says it has used improper fuel economy testing methods, sending its shares tumbling as a mileage cheating scandal in Japan that has engulfed Mitsubishi Motors Corp widened. Hayley Platt reports.
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Spain, Portugal spared budget sanctions
The European Commission has deferred any disciplinary action against Spain and Portugal over their excessive budget deficits until after a Spanish general election in June. Italy's budget won't be assessed until November either. As David Pollard lools at why
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Millions set for pay boost with new overtime rule
The Obama adminstration is issuing new rules that extend overtime pay to 4.2 million U.S. workers. Linda So reports.
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Can Burberry bags boost profits?
Burberry says it will overhaul its retail operations and simplify its product range after full-year profit fell 10 percent. As Hayley Platt reports, the British luxury brand says the tough market is set to persist this year.
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German pay hikes - not enough for ECB?
More than 3/4 million German construction workers are to get a bumper wage rise in the third major pay-hike agreement in recent weeks. But, as David Pollard reports, some in the euro zone - including the ECB - may wish they'd got more.
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Japan's economy dodges recession
Japan's economy expanded at the fastest pace in a year in the first quarter, thanks in part to a leap year consumption boost. But, as Laura Frykberg reports, analysts say the rebound is not strong enough to dispel concerns over a contraction this quarter
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Tourists switch to French countryside
Hotel activity in Paris has dipped 12 percent since January, largely due to the November attacks, according to a hospitality research group. But as Laura Frykberg reports, occupancy in the countryside has increased by 10 percent.
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Tuesday, May 17, 2016
Home Depot shielded from Amazon effect
Consumers don't buy mulch online, says Christian Magoon of Amplify Investments. He says home improvement retailers have a moat unlike department stores.
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LendingClub troubles mount
Shares of LendingClub lost even more ground, adding to last week's 51 percent plunge, after news of a shareholder lawsuit. Bobbi Rebell reports.
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French protest unpopular reform
French President Francois Hollande says the battle is not won against unemployment, and driving through labor reforms aimed at delivering jobs is more important than presidential popularity. And as Laura Frykberg reports, protests against the reforms are not letting up.
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Home Depot escapes retail wreck
Quarterly profit rose 14 percent at the world's largest home improvement chain, and shoppers spent more money on each trip to the store. Fred Katayama reports.
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Breakingviews: Pandora unboxed
Jen Saba and Reynolds Holding discuss activist investor Keith Meister's efforts to engineer a sale of the online music service and whether rivals Spotify and Sirius XM make sense as buyers.
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Saudi seeks oil rehab in finance
Saudi Arabia's Financial District gets a facelift as the economy shifts focus and the country's powerful young prince tries to end its addiction to oil. Joel Flynn reports.
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China and Thailand, a match made in business heaven
Chinese investment has been increasing in Thailand as both economies find benefits from working with each other. Julie Noce reports.
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Vodafone grows for first time since 2008
Vodafone says its earnings growth will accelerate this year after a programme to improve its networks boosted demand in Europe. As Hayley Platt reports, it also helped the group return to underlying growth in 2016 revenue and core earnings for the first time since 2008.
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Monday, May 16, 2016
Venezuela buys time as it reaches new oil deal with China
Venezuela says a better deal over oil loans was reached with China, but authorities warn the economy is likely to remain in recession until the end of 2017. Deborah Lutterbeck reports.
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Buffett's $1 billion bet on Apple
Warren Buffett's Berkshire Hathaway disclosed it has invested more than a billion dollars in Apple, creating renewed interest in the iPhone maker. Bobbi Rebell reports.
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Apple rally leads to healthy stock gains
Stocks got a jump start in the first trading session of the week after Apple shares rose on news that Warren Buffet's Berkshire Hathaway invested in the iPhone maker. Bobbi Rebell reports.
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Listen to Warren Buffett on Apple
Look for more retail investors to buy Apple's beleagured shares now that the Oracle of Omaha has spoken, says Jonathan Corpina of MEP Traders.
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Breakingviews: Apple of Omaha
Warren Buffett's Berkshire Hathaway disclosed a $1.1 bln stake in Apple, in a rare break from the Oracle's aversion to tech. Rob Cyran and Jeffrey Goldfarb question the logic.
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Bangladesh probe blames SWIFT for cyber heist
An investigation into Bangladesh Bank says it has found SWIFT responsible for security weaknesses that may have allowed hackers to make off with $81 million dollars from the central bank's New York Fed account in February. Ryan Brooks reports
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Oil prices rise on Goldman forecast
Oil prices have jumped over 3 percent to their highest since October 2015. As Sonia Legg reports, it follows growing Nigerian oil output disruptions and long-time bear Goldman Sachs saying the market had ended almost two years of oversupply.
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Pfizer buying Anacor for $5.2 bln.
Pfizer is buying the eczema treatment developer just one month after it scrapped its $160 billion merger deal with Allergan. Fred Katayama reports.
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Saturday, May 14, 2016
Pfizer blocks drug use for executions
Pharmaceutical giant Pfizer imposes new controls on its products to stop their use in lethal injections. Rough cut - subtitled (no reporter narration).
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Dow falls 185 points
Dismal earnings from department stores pressured consumer stocks, sending Wall Street south in a late-day selloff. Fred Katayama reports.
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Friday, May 13, 2016
Consumers buying, just not at department stores
U.S. retail sales surged in April. Consumers are buying clothing, but not at department stores, which have reported dismal earnings. Fred Katayama reports.
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Department stores' dismal week
Consumers are buying clothing, just not at department stores, which reported dismal earnings results. Fred Katayama reports.
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Sales fall at J.C. Penney
J.C. Penney's added to the gloom in the U.S. retail sector with falling quarterly sales and shrinking profit margins. Fred Katayama reports.
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Nigerians angry as fuel soars 67 percent
Nigerians feel the effects of fuel prices rises of up to 67 percent introduced by a government trying to cope with a fall in global oil prices. Sharon Atseyinku reports.
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Breakingviews: Facebook news skew
The social media giant has been accused of bias in posting what's happening in the world. Breakingviews columnist say that just shows it's truly a media company now.
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Brazil's Temer - right man for the job?
Brazil licks its political wounds after the suspension of Dilma Rousseff as president - her new interim replacement calling for his country to rally behind a 'national salvation' government. But is Michel Temer the right man to overcome massive economic challenges? Joel Flynn reports.
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Asia drops the ball on cyber crime
From credit card data theft to massive corporate thefts, the fast growing Asia region is also the fastest growing spot for computer hackers. As Tara Joseph reports, a lack of government cooperation and public awareness is making matters even worse.
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Thursday, May 12, 2016
Rousseff supporters chain themselves in Brasilia
Dozens of women chain themselves to the gates of Brasilia's Planalto Palace in support of suspended Brazilian President Dilma Rousseff, who says she will fight to prove her innocence. Jillian Kitchener reports.
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Trump fundraisers try to win over Wall Street's wealthy
Donald Trump's top fundraisers are at the preeminent annual SALT gathering of hedge fund managers hoping to win the world's wealthiest and most powerful investors.
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Apple pulls down Nasdaq
The Dow traded in a 178 point range but ended the day flat along with the S&P 500. Fred Katayama wraps up the market action.
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Investors boost bets on post-Rousseff Brazil
Investors boost bets on post-Rousseff Brazil but doubts persist with the country facing economic challenges. Deborah Lutterbeck reports.
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Kohl's profit plummets 87 percent
The department store chain also posted a surprise drop in sales at existing stores one day after Macy's dismal earnings report rocked the retail sector. Fred Katayama reports.
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Consumer strong despite weak retail results
Dismal earnings reports from Kohl's and Macy's doesn't mean the consumer is weak, says Thomas Wilson of Brinker Capital.
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Protesters clash with police over France labour reforms
French President Francois Hollande faces growing street protests and a wave of transport strikes over his decision to force through labour reforms. Jillian Kitchener reports.
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Wal-Mart tests free two-day shipping
The retailer is going head-to-head against Amazon's Prime program with a $49 two-day shipping offer. Fred Katayama reports.
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Why Jersey says it's not a tax haven
The British Crown Dependency of Jersey is welcoming the prospect of more regulation of offshore financial centres as an anti-corruption summit hosted by British Prime Minister David Cameron takes place in london. Ivor Bennett reports from the island.
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Breakingviews: One-stock wonders
Richard Beales and Rob Cyran examine Kerrisdale Capital's new $100 million fund for a short bet against Dish Network, why investors might like it and who the likely winners are.
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Streaming in focus as Cannes kicks off
As the 70th Cannes Film Festival kicks off the eyes of the cinema world are not just on the films being showcased, but on the changing role of streaming services, as Amazon makes its debut just a year after Netflix was left out. Joel Flynn looks at how technology and new business models are changing one of cinema’s oldest institutions.
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Protests test French labour reforms
French President Francois Hollande is facing a growing revolt in the streets and a wave of transport strikes over his decision to force through labour reforms. As Sonia Legg reports, his government has also been facing a vote of confidence called by the opposition.
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Solar Impulse heads to Oklahoma
Solar Impulse, the solar-powered airplane midway through a historic bid to circle the globe, takes off from Phoenix, Arizona towards its next stop in Tulsa, Oklahoma. Rough Cut (no reporter narration).
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BoE's Carney steps up Brexit warnings
The Bank of England steps up its warnings about the economic risks if Britain votes to leave the European Union, saying that sterling could fall sharply, unemployment would probably rise and Britain could enter a technical recession. David Pollard reports.
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Credit Agricole's restructure hurts profit
Credit Agricole report a 71 percent fall in first-quarter net income, weighed down by the launch of its plan to revamp complex shareholding ties with its parent group. As Hayley Platt reports weakness in French retail and investment banking also also a problem for the French lenderweighed..
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Brazilian lawmakers vote to impeach President Dilma Rousseff
Brazil Senate puts Rousseff on trial, ending 13 years of leftist rule. Rough Cut (no reporter narration).
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Hyperloop hopes get boost in Nevada desert
A car-sized sled powered by electromagnets rocketed to more than 100 miles an hour through the Nevada desert on Wednesday in what the Los Angeles company developing the technology said was the first successful test of a futurist transit system called hyperloop.
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Protests erupt in Brazil as Senators debate impeachment
Demonstrators clash with police, and each other, in Brazil as lawmakers debate whether to put President Dilma Rousseff on trial for breaking budget laws. Julie Noce reports.
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Wednesday, May 11, 2016
Macy's drags department stores closer to the grave
Shares of Macy's hit a four-year long after a fifth consecutive drop in quarterly sales suggested a quicker-than-expected death of department stores.
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Wendy's sees sales slowdown
The burger chain's quarterly profit and sales fell, and rainy spring weather may have cut into sales in the current quarter. Fred Katayama reports.
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Macy's, Disney drag down Wall Street
Weak earnings from Macy's and Disney drove stocks lower on Wall Street. Fred Katayama reports.
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Breakingviews: Knockout deal
Ultimate Fighting Championship reportedly seeks up to $4 bln in a possible sale. That may seem high, but Jen Saba and Reynolds Holding explain why a live-sports boom can justify the price.
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Macy's profit plummets 40 percent
The department store operator says shoppers have cut back on buying apparel, and foreign tourists have curbed spending. It cut its earnings outlook. Fred Katayama reports.
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UK industry slides amid weaker outlook
British factory output recorded its biggest annual fall in nearly three years in March, as shutdowns in the steel industry due to global overcapacity led broad-based declines. As David Pollard reports, the impact of the Brexit vote isn't helping
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China tech startups offer beds for workers
Tech startups in China encourage employees to sleep in the office to squeeze the most out of the working day. Paul Chapman reports.
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Scandals widen at Japanese car makers
Japan's Takata has posted its third annual loss in the past four years, hit by costs for recalls of its potentially deadly airbag inflators. As Joel Flynn reports, there was also more bad news for Japan's Mitsubishi, which is dealing with an emissions scandal.
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Tuesday, May 10, 2016
Amazon leads Wall Street parade
The U.S. stock market saw its biggest daily jump in two months thanks to a record high for Amazon shares.
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Amazon launches video service
Amazon takes on YouTube with its new service that allows users to post videos and earn royalties. Fred Katayama reports.
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U.S. stocks rally; Disney drops
Stocks rose strongly across the baord, but Disney shares fell after hours on disappointing earnings. Fred Katayama wraps up the day's market action.
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Credit Suisse sees tough markets ahead
Credit Suisse predicts financial markets will remain tough, after starting the year with a quarterly loss for the first time since 2008 amid a major restructuring. But as Hayley Platt reports, like many of its peers the Swiss bank's losses weren't as bad as expected
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Big payday for hedge fund managers
Despite the fact that roughly half of all hedge funds lost money last year, paychecks are up for the top managers, according to Institutional Investor. Bobbi Rebell reports.
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Monday, May 9, 2016
Split decision on stocks
Stocks closed out the first trading session of the week little changed as weakness in energy and basic materials offset gains in Allergan and other healthcare companies. Bobbi Rebell reports.
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Krispy Kreme gets sweet 25% premium to go private
Shareholders of U.S. donut chain Krispy Kreme got a hefty 25 percent bump in the stock after Germany's JAB announced plans to take the company private in a $1.35 billion deal. Bobbi Rebell reports.
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Time to invest in Brazil
Emerging markets offer great value, says Kevin Caron of Washington Crossing Advisors, who recommends Brazil for its attractive demographics.
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Breakingviews: Lending Clubbed
Richard Beales and Antony Currie consider the limits of fintech disruption after Lending Club's mis-selling of loans cost the company its founder and CEO and 25 percent of its value.
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Many Europeans in poll want vote on EU
A new poll shows nearly half of voters in eight big European Union countries want to be able to vote on whether to remain members of the bloc, just like Britons will in a referendum next month. As Ivor Bennett reports, the survey was released as the UK's Prime Minister David Cameron made the case for Britain to stay in the European Union
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Will Panama Papers stain New Zealand?
This small, idyllic country is tangled in a web of hidden cash from wealthy Latin Americans channeling funds around the world, according to a new round of Panama Papers. As Tara Joseph reports, New Zealand ticks all the boxes for the shady world of offshore trusts.
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China trade weak but Germany powers on
German industrial orders rose more than expected in March due to buoyant foreign demand especially from countries outside the euro zone. But as Sonia Legg reports, the postive data from Europe's biggest economy follows yet another weak survey from China - this time exports fell more than expected in April.
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Lending Club CEO resigns
Founder Renaud Laplanche resigned after an internal review found the company had extended loans to an investor that didn't conform to instructions. Fred Katayama reports.
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Saturday, May 7, 2016
Tim Cook to visit China
Apple CEO Tim Cook will visit China later in May to meet government officials. It comes just as the iPhone maker faces setbacks in its second largest market, as Fred Katayama reports.
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Feds warned of theft risks before Bangladeshi heist
Top managers at the New York Federal Reserve had considered the prospect of a cyber attack, like the one against the Bangladesh central bank, but Reuters has learned, they chose to focus more on money laundering and economic sanctions.
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Thursday, May 5, 2016
Alibaba defies China slowdown
Alibaba shares rallied four percent in U.S. trade as China's leading e-commerce company saw a pick-up in sales growth despite sluggishness in its hometown economy.
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Stay away from tobacco stocks
U.S. regulators banned sales of e-cigarettes and cigars to minors, and California raised the legal age for smoking. Steve Dudash of IHT Wealth Management says avoid tobacco stocks.
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Breakingviews: Tesla floors it
Elon Musk's electric-car maker is accelerating production targets, which bring new technological and financial risks. Kevin Allison and Jeffrey Goldfarb take them for a spin.
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British tabloid closes after two months
The first national newspaper to launch in Britain in 30 years is to close after just two months. As Jacob Greaves reports, its publisher Trinity Mirror said it failed to find readers in a print market decimated by the growth of the internet.
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Alibaba's profit surges higher
The Chinese e-commerce giant is defying China's economic slowdown, as more customers buy goods over their mobile phones. Fred Katayama reports.
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Shanty-town chic for Rio Games visitors
Beyond bed and breakfasts, favela hostels offer tourists a new experience as Rio prepares for huge waves of visitors during the Olympic Games - and are a chance for locals to earn a little extra cash against a tough economic backdrop. David Pollard reports.
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Apple loses China fight over iPhone name
A Chinese accessory company has won a lawsuit with Apple for the right to use the name "iPhone" on its leather bags and phone cases. Ryan Brooks reports.
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Meet China's most stubborn tenants
Residents living on prime property in Shanghai refuse to move out, seeking better compensation from developers. Yiming Woo reports.
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Wednesday, May 4, 2016
Massive email hack hits millions
Hundreds of millions of hacked usernames and passwords for email accounts and other websites have been stolen, a security expert told Reuters. Bobbi Rebell reports.
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Carbon Black's Ben Johnson on e-mail data breach
Ben Johnson, chief security strategist at Carbon Black talks with Bobbi Rebell about the huge data breach that may have impacted millions of e-mail accounts, including Yahoo, Microsoft and Google.
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Data weighs on stocks
The major indexes lost ground again on Wednesday, on concerns about the global economy. Bobbi Rebell reports.
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Buy Microsoft, avoid financials, says fund manager
Microsoft has high multiples, says Recon Capital's Kevin Kelly, but it's growing earnings at a 30 percent rate.
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Breakingviews: Facebook's C for governance
Mark Zuckerberg's planned issuance of non-voting stock disadvantages regular shareholders. Breakingviews columnists explain how Facebook investors might learn from Google counterparts.
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Berlin bans property rentals to tourists
Berlin city apartments have introduced a ban against online holiday rentals of privately owned apartments to counter a housing shortage. As Hayley Platt reports, owners say the move could cut visitor numbers to Berlin.
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Old risk, new reward for European firms
Several of Europe's largest companies - Siemens, ABInBev and AirFrance/KLM - report results as PMIs show euro zone businesses trudged into the second quarter. David Pollard reports
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More spending cuts at Shell after BG deal
Royal Dutch Shell has cut its 2016 spending by another 10 percent after completing the $54 billion acquisition of BG Group, warning that low oil prices will continue to weigh. Hayley Platt reports.
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Modest makeover for Barbie
A 24-year-old Nigerian blogger and medical scientist gives Barbie dolls a modesty makeover - adding a Hijab. As Grace Pascoe reports 'Hijarbie' has attracted a large internet following.
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SocGen trims costs as profit surprises
Societe Generale is the latest bank to pledge further cost cuts this year. As Sara Hemrajani reports, it's seeking to reassure investors that its diversified business can withstand a weak start to the year in investment banking.
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Tuesday, May 3, 2016
Economic growth concerns sink stocks
Weak economic data in China and Europe reignited worries about global growth, and weighed on U.S. stocks in Tuesday's session. Bobbi Rebell reports.
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Auto sales up, but for how long?
Auto sales continue to be on pace for another record year, but there are concerns that the cyclical industry may be peaking. Bobbi Rebell reports.
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Time to buy munis, corporates and MLPs - advisor
Stocks are in for volatility, says Richard Steinberg of HSW Advisors. He recommends getting into non-correlated assets like munis and corporate bonds.
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Creative directors more involved than ever
At top fashion houses, things have changed and creative directors now have a larger role than ever. Saskia O'Donoghue reports.
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Australia joins global rates easing party
Australia's central bank has cut interest rates to an all-time low of 1.75 percent as it seeks to restrain a rising currency and stave off the creeping curse of deflation. As David Pollard reports, it comes a day after ECB President Mario Draghi defended his polcy of ultra-low rates in the face of German criticsim.
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Breakingviews: Medical M&A muddle
The proposed $18 bln merger of healthcare data miner IMS and drug-trial manager Quintiles may save costs but lacks clear logic. Robert Cyran and Reynolds Holding pick through the de
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Baidu faces probe after student death
Regulators have launched a probe at Baidu after a dying student accused the country's top search engine of promoting false medical information. As Ryan Brooks reports, investors have cuts more than $5bln from Baidu's market capitalisation.
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The latest bitcoin controversy
Australian Craig Wright has told the BBC he is the creator of the controversial currency bitcoin, though some are skeptical. Bobbi Rebell reports.
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Monday, May 2, 2016
Coin Center's Brito skeptical about Bitcoin creator claims
Jerry Brito, Executive Director of the non-profit Coin Center talks with Reuters' Bobbi Rebell about Craig Wright the Australian tech entrepreneur who says he is the creator of Bitcoin.
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Rebound on Wall Street
Stocks came back from losses last week to close higher on Monday, lifted by financial stocks including Berkshire Hathaway. Bobbi Rebell reports.
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U.S. cruise ship makes historic arrival in Havana
Excited Cubans gather on shore to greet the arrival of the Adonia, the first U.S. cruise ship to dock in the country since 1959, as the two former Cold War enemies work to restore normal relations. Subtitled Rough Cut (no reporter narration).
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Invest in financials, consumer stocks amid stocks slowdown
Stocks will be lucky to finish the year flat, says Steve Wood of Russell Investments. He suggests investing in domestic financial and consumer stocks, Europe and Japan.
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Breakingviews: Betting against hedge funds
With Warren Buffett winning a wager that stocks will do better than hedge funds, Rob Cox and Richard Beales wonder if hedgies' best strategy is to shrink to fit their high-fee niche.
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Solar plane resumes around-the-world mission, heads for Arizona
The Swiss-made Solar Impulse Two took off from California for Arizona on Monday morning, resuming its mission to travel around the world using only energy from the sun. Rough Cut (no reporter narration).
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Buffett says Berkshire is Clinton/Trump-proof
Warren Buffett said on Saturday that Berkshire Hathaway will to do well no matter who wins the White House in November, and the billionaire investor defended his conglomerate's performance and tactics.
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Sunday, May 1, 2016
Media swarm Warren Buffett
At the 2016 Berkshire Hathaway Annual Shareholders Meeting, chief executive Warren Buffett was surrounded by media trying to pick the multi-billionaire's brain.
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