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Cold weather chills U.S. homebuilding; jobless claims at 45-year low

WASHINGTON U.S. homebuilding fell more than expected in December, recording its biggest drop in just over a year, likely as unseasonably cold weather at the end of the month disrupted the construction of single-family housing units.

Recent Business News

Xerox-Fujifilm deal should have been changed long ago: Icahn

Hedge fund investor Carl Icahn called on Thursday for the termination or renegotiation of Xerox Corp's long-running joint venture with Fujifilm Holdings reiterating demands for a change of leadership at Xerox.

1:42pm EST

Morgan Stanley tops estimates on underwriting, wealth management

Morgan Stanley's adjusted quarterly profit topped Wall Street estimates on Thursday as strength in underwriting and wealth management offset a sharp but expected decline in bond trading revenue. | Video

1:23pm EST

Nestle nominates three board directors to help advance strategy

LONDON Nestle proposed three new independent directors to its board on Thursday, as the world's largest food company seeks to accelerate its transformation into a health-conscious company.

1:54pm EST

Nigeria sues JP Morgan for $875 million over Malabu oilfield deal

LONDON Nigeria has filed a claim against JP Morgan Chase for more than $875 million, accusing it of negligence in transferring funds from a disputed 2011 oilfield deal to a company controlled by the country's former oil minister.

1:43pm EST

CIBC eyes FirstCaribbean valuation around $1.4 billion: sources

TORONTO Canadian Imperial Bank of Commerce is targeting a valuation of 10 times earnings for the potential listing of its FirstCaribbean business in New York, which would give it a market value of around $1.4 billion, five sources familiar with the matter told Reuters over the past week.

2:34pm EST

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