Business News Headlines

Wed, Oct 1 2014

Asia spooked by weak global data; Tokyo stocks slide, yen up

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TOKYO - Asian stocks fell on Thursday as weak global manufacturing activity and an Ebola health scare in the United States spooked world markets, sending investors scurrying to the safety of U.S. bonds, the Japanese yen and gold.

01 Oct 2014

WiLan says loses LTE patent case against Apple

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TORONTO - Canadian patent licensing company WiLan Inc on Wednesday said a U.S. judge had ruled in favor of Apple Inc in a litigation case against it.

Tech, Media 01 Oct 2014

Torrid U.S. car sales pace slowed in September

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DETROIT - U.S. auto sales in the third quarter were the best in eight years, but mixed September results from leading automakers on Wednesday indicated the industry's torrid summer pace is slowing.

01 Oct 2014

Pimco Total Return Fund posts record $23.5 billion net outflow in September

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- Pacific Investment Management Co suffered a record $23.5 billion of withdrawals from its flagship Pimco Total Return Fund in September, with its largest daily outflow occurring on the day of Bill Gross's surprise resignation from the firm.

01 Oct 2014

Tesla's Musk says 'about time to unveil the D and something else'

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- Tesla Motor Inc Chief Executive Elon Musk sent out a cryptic tweet on Wednesday, saying it is "about time to unveil the D and something else", with an accompanying photo which mentioned a date, Oct. 9. (http://bit.ly/ZtvoeG)

12:19am EDT

Bank of America names CEO Moynihan chairman of board

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- Bank of America Corp said it named Chief Executive Brian Moynihan as chairman of its board, effective immediately.

01 Oct 2014

New York Times to cut jobs as new products disappoint

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- The New York Times Co said it would cut jobs, including about 7.5 percent of its newsroom positions, as advertising revenue dwindles and new digital products fail to live up to expectations.

Tech, Media 01 Oct 2014

Samsung Electronics profit seen bottoming in third quarter ahead of slow recovery

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SEOUL - Samsung Electronics Co Ltd's profit is seen weakening further in the third-quarter, underscoring the downturn in its market-leading smartphone business and piling pressure on the firm to deliver a revamped product lineup.

01 Oct 2014

PayPal spawn have advanced where PayPal stood still

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SAN FRANCISCO - PayPal's biggest threat as it prepares to split from eBay next year may come from former employees who back a crop of new businesses serving shoppers who increasingly prefer to pay with mobile phones rather than personal computers.

Tech, Media 01 Oct 2014

Philips Electronics loses $467 million patent verdict to Masimo

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- A federal jury on Wednesday said Philips Electronics NA should pay $466.8 million to Masimo Corp for having infringed two patents for technology used to help measure blood oxygen and track pulse rates.

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Key retirements mean a changing of the guard next year in U.S. Congress

Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.