Business News Headlines
Sat, May 25 2013
Blackstone notifies Cohen's SAC it intends to pull money: pension consultant
- Billionaire hedge fund manager Steven A. Cohen is losing the financial support of Blackstone Group Inc, the largest outside investor in his embattled SAC Capital Advisors, which is yanking much of its client money, according to a letter reviewed by Reuters.
Fri, May 24 2013
Wall Street Week Ahead: Investors look for signs in the rally's break
NEW YORK - The stock market's break in its recent rally this week left investors wondering if they're seeing a turning point or just a blip in the upward path. | Video
News Corp to take charge of up to $1.4 billion this quarter
- News Corp said on Friday it will write down the value of its Australian and U.S. publishing assets by up to $1.4 billion, as the company prepares to split its business between its newspaper and entertainment operations.
Lobbying in American-US Airways deal focuses on small cities
- US Airways Group and American Airlines , seeking approval for a merger that would create the world's largest airline, are warning lawmakers that a requirement to divest certain airport slots would lead to less service for small and medium-sized cities, sources close to the effort told Reuters.
Exclusive: In surprise, General Growth eyes New York office tower
NEW YORK - General Growth Properties Inc has paired with Brookfield Office Properties Inc to bid for an expensive New York building in what could mark the No. 2 U.S. mall owner's entry into a new segment of the retail real estate market, according to two sources familiar with the deal.
Visa, Mastercard ask U.S. court to declare card fees are lawful
NEW YORK - Visa Inc and MasterCard Inc, opening another front in an eight-year battle over credit card fees paid by retailers, on Friday asked a federal judge to declare that the fees do not violate antitrust law.
Yahoo joins growing list of bidders for Hulu: sources
LOS ANGELES/NEW YORK - Yahoo Inc has submitted a formal proposal to buy Hulu, joining a growing list of bidders for the video service owned by News Corp and Walt Disney Co, two sources with knowledge of the bid told Reuters on Friday.
Chinese premier criticizes EU move on trade measures
SHANGHAI - Chinese Premier Li Keqiang criticized the European Union over its plans to investigate alleged anti-competitive behavior by Chinese mobile telecom equipment makers and to impose punitive import duties on solar panels from China, state media reported.
Ex-Virginia bank executives guilty in financial crisis case
- The former chief executive of a failed U.S. bank in Norfolk, Virginia, and three others were convicted Friday of conspiracy to commit bank fraud and other charges in connection with a scheme to conceal loan losses that contributed to the bank's collapse in 2011.
U.S. audit regulator reaches deal with China on document access
NEW YORK - U.S. regulators will get access to Chinese companies' audit documents under a deal announced on Friday, opening the way to probes of bungled audits after a two-year stand-off between China and the United States.
McCain, Biden coming together for Sedona, Arizona forum
These days Washington is not known for bipartisanship, but every now and then a breakthrough is made. It is noteworthy that Vice President Joe Biden, a Democrat, and Senator John McCain, a Republican, are appearing together at a forum in Sedona, Arizona on Friday.
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