Driven by ambitions to make China a great power, President Xi Jinping is staking his political authority on a huge task: overhauling the Chinese military. The New York Times reports.» Read More
JAKARTA, Aug 22- Indonesian stocks opened near a record high and the rupiah strenghtened on Friday, a day after the country's highest court gave Joko Widodo the green light to lead Southeast Asia's largest economy from its worst slowdown since the global financial crisis.
Aug 21- U.S. federal prosecutors have learned that lawyers for General Motors Co were present at key meetings during which information about problems with some of its vehicles were discussed, a source close to the investigation said.
Aug 21- Citigroup Inc has been sending hedge fund firms letters informing them that it cannot sell investments in hedge funds and private-equity funds to clients after a deal with the U.S. Securities and Exchange Commission, the Wall Street Journal reported.
Aug 21- Home Depot Inc named retail industry veteran Craig Menear as its chief executive, four months after he was appointed as head of the home improvement chain's U.S. retail business. Menear, 56, joined Home Depot in 1997 as a merchandising manager.
Aug 21- Apparel retailer Gap Inc raised its full-year profit forecast, encouraged by strong sales of its lower-priced Old Navy clothes, and said it would open 40 stores in India as part of its strategy to expand in emerging markets. Gap said it is partnering with Arvind Lifestyle Brand Ltd, a unit of textile manufacturer Arvind Ltd, for opening the stores in India.
Aug 21- Intuit Inc, the developer of tax-preparation software TurboTax, forecast a much bigger first-quarter loss, citing restructuring in its small business group unit. The company forecast a current-quarter loss of 36- 37 cents per share.
Salesforce said on Thursday it expects an adjusted profit of 50- 52 cents per share on revenue of $5.34- $5.37 billion for the year ending Jan. 31. It had previously forecast an adjusted profit of 49- 51 cents on revenue of $5.30- $5.34 billion.
Aug 21- Home Depot Inc named Craig Menear its chief executive, replacing Frank Blake, who will stay on as chairman.
SAN FRANCISCO— Gap Inc. said its profit rose 10 percent in the second quarter as the clothing retailer cut expenses and managed to lift sales. The San Francisco- based company also said it plans to open Gap stores in India next year. The performance reflected a 5 percent decline at Gap, flat sales at Banana Republic, and growth of 4 percent at Old Navy.
Aug 21- Teen apparel retailer Gap Inc reported a better-than-expected quarterly profit and sales and raised its full-year profit forecast, helped by strong sales of its low-priced Old Navy clothes. Comparable sales at Old Navy stores, which cater to a slightly older customer base, rose 4 percent in the second quarter ended Aug 2.
Aug 21- An experimental new psoriasis treatment from Eli Lilly and Co proved superior to Amgen Inc's blockbuster Enbrel, drawing it closer to a potential marketing battle with new products being developed by Amgen and Novartis AG.
NEW DELHI, Aug 21- Indian government officials painted an upbeat picture for the economy on Thursday as it struggles to emerge from the longest spell of sub-par growth in decades and promised to tighten up risk management at the country's dominant state banks.
Aug 21- Baxter International Inc said a more potent version of its flagship blood disorder drug Advate met the main goal in a late-stage study.
JAKARTA, Aug 21- Indonesia's highest court on Thursday unanimously upheld last month's presidential election result, paving the way for Joko Widodo to take over as leader of the world's third largest democracy.
Aug 21- Family Dollar Stores Inc rejected Dollar General Corp's $8.95 billion acquisition offer, citing antitrust concerns, and reaffirmed its support for a buyout offer from Dollar Tree Inc..
The trial tested three doses on the drug, collagenase clostridium histolyticum, against a placebo in 150 women between the ages of 18 and 45 in the United States.
Aug 21- Family Dollar Stores Inc rejected Dollar General Corp's acquisition offer, citing antitrust concerns, and reaffirmed its support for a buyout offer from Dollar Tree Inc..
The trial tested the drug, collagenase clostridium histolyticum, against a placebo in 150 women between the ages of 18 and 45 in the United States.
Aug 21- An elongated area of low pressure located about 350 miles east of the Lesser Antilles has a 50 percent chance of becoming a tropical cyclone in the next 48 hours, the U.S. National Hurricane Center said on Thursday.
Aug 21- Dollar Tree Inc reported a 2.6 percent fall in quarterly profit as costs increased. Net income fell to $121.5 million, or 59 cents per share, in the second quarter ended Aug. 2 from $124.7 million, or $1.25 per share, a year earlier. Dollar Tree, which operates the Dollar Tree, Deal$ and Dollar Bills stores, agreed to buy Family Dollar Stores Inc in July.