Business

IBM’s quarterly revenue sinks to 5-year low as hardware sales fall

By Supantha Mukherjee and Soham Chatterjee Wed Apr 16, 2014 7:10pm EDT (Reuters) – IBM Corp reported its lowest quarterly revenue in five years on Wednesday as the company struggles with falling demand for its storage and server products. Shares of Big Blue fell about 4 percent to $188.20 in after-hours trade. Total revenue fell 4 percent to $22.5 billion in the first quarter, below analysts’ average estimate of $22.91 billion. “They have had eight […]

Google misses revenue target, ad prices slide

By Alexei Oreskovic SAN FRANCISCO Wed Apr 16, 2014 8:05pm EDT (Reuters) – Google Inc’s first-quarter revenue fell short of Wall Street targets and margins narrowed as the price of its ads continued to decline, underscoring the challenges Internet companies face as the world shifts toward mobile devices. Shares of Google were down 3 percent to $539.80 in afterhours trading on Wednesday, after initially sliding roughly 6 percent on the news. The number of “paid […]

Asian stocks struggle higher, lack conviction

By Wayne Cole SYDNEY Wed Apr 16, 2014 10:28pm EDT (Reuters) – Asian share markets eked out gains on Thursday as dovish comments from the head of the U.S. Federal Reserve combined with an upbeat economic assessment from the central bank to lift Wall Street for a third straight session. However, disappointing results from Google and IBM knocked their shares lower after the bell and could crimp technology stocks in the region. Indeed, the tech […]

China’s economic growth slows to 18-month low in first-quarter

(Reuters) – China’s economy grew at its slowest pace in 18 months at the start of 2014, but did a touch better than expected and showed some improvement in March, suggesting Beijing will not rush to follow up recent steps to support activity. Authorities have ruled out major stimulus to fight short-term dips in growth, signaling the slowdown was an expected consequence of their reform drive, even as some analysts think the economy will lose […]

Wall Street ends up after Citi results, retail sales

By Ryan Vlastelica NEW YORK Mon Apr 14, 2014 6:02pm EDT (Reuters) – U.S. stocks closed higher on Monday as Citigroup’s earnings and strong retail sales gave investors reasons to buy equities despite a resurgence of geopolitical uncertainties. Equities opened higher as strong results from Citigroup and bullish retail sales data lifted sentiment, though shares lost ground in the last hour of trading. Both the Nasdaq and the S&P 500 briefly turned negative, though they […]

Reforms to IMF hit serious deadlock: G20 official

By Lidia Kelly WASHINGTON Sun Apr 13, 2014 2:16am EDT (Reuters) – Reforms to the International Monetary Fund have hit a deadlock despite a declaration from global financial chiefs that they would move forward without the United States if it fails to ratify the changes by year-end, a G20 official said on Sunday. The inability to proceed with giving emerging markets a more powerful voice at the IMF and shoring up the lender’s resources appeared […]

Yen gains, stocks brace for losses on Wall St. gloom

By Lisa Twaronite   TOKYO Sun Apr 13, 2014 8:00pm EDT (Reuters) – The safe-haven yen started the week on a firm footing and Asian shares braced for more losses on Monday after a dismal week on Wall Street. Ongoing tensions in Ukraine also sapped investors’ appetite for risk. Ukraine gave pro-Russian separatists a Monday morning deadline to disarm or face a “full-scale anti-terrorist operation” by its armed forces, raising the risk of a military […]

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 […]