Business

Starbucks sales in Americas region up slightly more than expected

Thu Jul 24, 2014 7:17pm EDT (Reuters) – Starbucks Corp on Thursday said quarterly sales at established stores in its dominant Americas region grew a somewhat stronger-than-expected 6 percent, including a 7 percent rise for the United States that was helped by food sales. The third fiscal quarter report from the world’s biggest coffee chain followed disappointing quarterly results from McDonald’s Corp and Dunkin’ Donuts parent Dunkin’ Brands. But Starbucks’ sales gains did not rival […]

Exclusive: China meat supplier faced claims last year over unethical work practices

By Kazunori Takada SHANGHAI Thu Jul 24, 2014 10:41pm EDT (Reuters) – Shanghai Husi Food, the U.S.-owned Chinese food supplier at the center of a meat safety scandal, won a court case earlier this year against a former quality control officer whose claims included that he was made to forge meat production dates. Wang Donglai, who worked at Shanghai Husi Food from 2007 to 2013, sought around 38,000 yuan ($6,100) in compensation for damage to […]

Google’s business chief departs for SoftBank in latest leadership change

By Alexei Oreskovic SAN FRANCISCO Thu Jul 17, 2014 9:02pm EDT (Reuters) – Google Inc’s chief business officer, one of Chief Executive Officer Larry Page’s key lieutenants and the company’s main liaison to Wall Street, is leaving the Internet search company, the latest high-ranking executive to depart. Nikesh Arora, who joined Google nearly a decade ago, will move to Japan‘s SoftBank Corp as vice chairman, according to a post by Page on the Google+ social […]

Emirates airline could buy 60-80 more A380s if engines upgraded: FT

Wed Jul 16, 2014 5:57pm EDT (Reuters) – Dubai’s Emirates could buy an additional 60 to 80 Airbus A380s if the four-engined superjumbo were revamped with more fuel-efficient engines by 2020, the airline’s Chief Executive Tim Clark said, according to the Financial Times. Emirates, the largest customer for the Airbus A380, had ordered 140 of the aircraft as of November. “We have made it crystal clear to (Airbus) in the event of the (A380) neo […]

Asia follows Wall St. higher, euro probes lows

By Shinichi Saoshiro TOKYO Wed Jul 16, 2014 9:54pm EDT (Reuters) – Asian equities gained early on Thursday, lifted by another record-high close on Wall Street, while the euro probed recent lows against the dollar amid market speculation the U.S. Federal Reserve is tilting toward tighter monetary policy. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.15 percent. Tokyo’s Nikkei gained 0.3 percent. The Dow closed at a record high overnight, boosted by merger […]

Time Warner rebuffs Fox bid, but Murdoch determined

(Reuters) – Rupert Murdoch’s 21st Century Fox Inc said on Wednesday it had offered to buy Time Warner Inc, a move that would unite two of the world’s most powerful media conglomerates, but Time Warner rebuffed its offer. Time Warner’s stock jumped 17.3 percent to $83.33 on the New York Stock Exchange after news that Murdoch had his sights on Time Warner, the owner of the Warner Bros. movie studio and cable channels such as […]

BRICS set up bank to counter Western hold on global finances

(Reuters) – Leaders of the BRICS emerging market nations launched a $100 billion development bank and a currency reserve pool on Tuesday in their first concrete step toward reshaping the Western-dominated international financial system. The bank aimed at funding infrastructure projects in developing nations will be based in Shanghai, and India will preside over its operations for the first five years, followed by Brazil and then Russia, leaders of the five-country group announced at a […]

Samsung halts business with Chinese supplier over child labor fears

SEOUL Sun Jul 13, 2014 11:30pm EDT (Reuters) – Samsung Electronics Co Ltd said on Monday it had suspended business with a Chinese supplier it suspected of employing child labor, less than a week after a U.S. watchdog report accused the supplier of using under-aged workers. The South Korean smartphone maker said it found an “illegal hiring process” at Dongguan Shinyang Electronics Co Ltd, which supplies mobile phone covers and parts. Dongguan Shinyang Electronics could […]

Asian shares prove resilient to euro jitters

By Wayne Cole SYDNEY Thu Jul 10, 2014 11:00pm EDT (Reuters) – Asian shares recouped early losses on Friday as sentiment in the region proved resilient to Portuguese bank concerns amid signs offshore funds were returning to emerging world assets. MSCI’s broadest index of Asia-Pacific shares outside Japan recovered to be a fraction firmer. Indices in Australia, Singapore and China were all higher, while Japan’s Nikkei pared its losses to be off just 0.26 percent. […]

Emirates finalizes $56 billion order for 150 Boeing 777X planes

Wed Jul 9, 2014 9:47am EDT (Reuters) – Dubai airline Emirates finalized a $56 billion order to buy 150 Boeing  777X jets on Wednesday, firming up a commitment made last year, just weeks after scrapping an order with rival planemaker Airbus. The deal includes purchase rights for an additional 50 airplanes which, if exercised, could increase the value to about $75 billion at list prices, Boeing said in a statement. “With the order for 150 […]

Exclusive: Commerzbank may pay $600 million-$800 million to settle U.S. probe – sources

By Karen Freifeld NEW YORK Wed Jul 9, 2014 8:13pm EDT (Reuters) – German lender Commerzbank AG is expected to pay between $600 million and $800 million to resolve investigations into its dealings with Iran and other countries under U.S. sanctions, sources familiar with the matter said. The penalty, previously reported to be more than $500 million, includes a demand from New York’s top banking regulator, Benjamin Lawsky, for more than $300 million from the […]

Smartphones weigh on Samsung Electronics as guidance disappoints

By Se Young Lee SEOUL Tue Jul 8, 2014 12:45am EDT (Reuters) – Samsung Electronics Co Ltd  on Tuesday issued unexpectedly weak quarterly earnings guidance which put it on track for its worst results in two years and cast doubt on the smartphone leader’s strategy against cheaper Chinese rivals. Though the South Korean company said it saw better business conditions in the third quarter, it faces slowing market growth, intensifying price competition at the lower […]