Business

FBI conducting a probe into Herbalife: sources

(Reuters) – The FBI is probing Herbalife Ltd, the nutrition and weight loss company that hedge fund manager William Ackman has called a pyramid scheme, sources familiar with the investigation said on Friday. The news, first reported by the Financial Times, sparked a sharp sell-off that sent the stock price down nearly 14 percent. One source briefed on the matter said that the investigation has been going on for some time, but declined to give […]

Global equities rally, dollar weakens on signals from Fed minutes

By Herbert Lash NEW YORK Wed Apr 9, 2014 4:55pm EDT (Reuters) – Global equity markets advanced and the dollar retreated on Wednesday after minutes from the Federal Reserve’s latest policy meeting suggested the U.S. central bank may not raise interest rates anytime soon. Stocks on Wall Street jumped more than 1 percent and prices of U.S. government debt fell following release of the minutes from the Fed’s March 18-19 meeting. Fed policymakers were unanimous […]

Toyota Recalls Nearly 6.5 Million Vehicles For Steering, Other Faults

(Reuters) — Toyota Motor Corp said on Wednesday (April 9) it would recall 6.39 million vehicles globally for faults affecting various parts ranging from steering to seats in the company’s second-largest recall to date. The world’s biggest automaker said it was not aware of any crashes or injuries caused by the glitches, which were found in 27 Toyota models including the RAV4 SUV and Yaris subcompact. Toyota said faults were also found in the Pontiac Vibe and the Subaru Trezia, two models the automaker built for General Motors […]

Peso gains vs. dollar on below-expected US non-farm employment growth

(PNA) –The peso gained P0.10 to a dollar Monday (April 7) after investors noted the lower-than-expected growth of non-farm payrolls in the United States in March 2014. It ended the day at P44.84 from P44.94 last Friday after the market noted the 192,000 increase in non-farm payroll for the third month this year, which the U.S. Bureau of Labor Statistics’ reported Friday last week (Friday night, Manila time). The growth of non-farm payrolls last March […]

Japan shares slip, others relieved by U.S. data

(Reuters) – Asian markets were torn two ways on Monday, some following Wall Street lower but others encouraged by U.S. jobs data that hit the sweet spot for many investors — firm enough to soothe concerns about the health of the U.S. recovery but not so strong as to hasten the end of policy stimulus. The immediate outlook was clouded by a momentum-driven fall on Wall Street and a rise in the yen against the […]

Wall Street dips as investors wary before jobs data

By Caroline Valetkevitch NEW YORK Thu Apr 3, 2014 5:15pm EDT (Reuters) – U.S. stocks slipped on Thursday, as investors turned cautious ahead of Friday’s monthly jobs report, while a drop in biotech and momentum shares dragged the Nasdaq down nearly 1 percent. The Dow ended down just a fraction of a point, within about 4 points of its record closing high of 16,576.66 set on December 31. The Dow posted an all-time intraday high […]

Anadarko Petroleum settles U.S.-wide clean-up case for $5.15 billion

By Nick Brown Thu Apr 3, 2014 7:57pm EDT (Reuters) – Energy company Anadarko Petroleum Corp agreed on Thursday to pay more than $5 billion to clean up areas across the United States polluted by nuclear fuel, wood creosote and rocket fuel waste that caused cancer and other health problems. The agreement resolves a long-running lawsuit against the Kerr-McGee energy and chemical company, which Anadarko bought in 2006. The case was brought by a trust […]

Exclusive: U.S. states probing security breach at Experian unit

By Jim Finkle and Karen Freifeld BOSTON/NEW YORK Thu Apr 3, 2014 6:58pm EDT (Reuters) – A number of U.S. states are jointly investigating a data breach involving a subsidiary of Experian Plc that exposed the social security numbers of some 200 million people to potential criminal activity. A Vietnamese man last month confessed in U.S. District Court in New Hampshire to orchestrating the breach, so the focus of the multistate investigation will likely be […]

Lufthansa Cancels Thousands Of Flights As Pilots Strike

(Reuters) — Lufthansa cancelled some 3,800 flights as pilots began a three-day walkout on Wednesday (April 2), in what is one of the biggest strikes ever to hit the German airline. Vereinigung Cockpit, the union representing most of Lufthansa’s 5,400 pilots, last week said it was calling for a three-day strike from April 2 over plans by Germany’s largest airline to scrap an early retirement deal. Although Lufthansa had improved its offer, the pilots said […]

U.S. factory activity picks up, more gains eyed as winter fades By Lucia Mutikani

    (Reuters) – U.S. factory activity accelerated for a second straight month in March and auto sales surged, the latest signs the economy was regaining footing after a brutal winter. Unusually cold and snowy weather chilled activity early in the year and signs of a thaw have raised hopes of a strong bounce back in economic growth in the second quarter. “Winter is over. The economy is looking more positive,” said Chris Rupkey, chief […]