Vasu Menon, VP, Group Wealth Management at OCBC Bank, describes why Asian shares traded mixed on Thursday despite dovish comments from the Fed overnight.» Read More
LAUNCESTON, Australia, April 17- In an otherwise upbeat report on the outlook for China's gold demand, the World Gold Council slipped in some details about the use of the precious metal for credit deals.
Between March 2013 and March 2014, more than 50 complaints about e-cigarettes were filed with the U.S. Food and Drug Administration, according to data obtained through a public records request.
April 17- The U.S. Treasury Department is forming a new unit to monitor the municipal bond market, the Wall Street Journal reported, citing a Treasury official.
Minneapolis- based Cargill had been in late-stage talks to buy the business, which spans bean pressing in Abidjan in Ivory Coast to fine chocolate making in Belgium. The combined company would have been big enough to rival Swiss chocolate maker Barry Callebaut, the world's largest industrial chocolate producer.
SYDNEY, April 17- The adage "safe as houses" has been an oxymoron since the global financial crisis. A tiny 15 sq metre studio apartment in inner Sydney recently went for A $220,000, or A $14,666 per sq metre- not far off Manhattan heights.
LOS ANGELES— A man will plead guilty to securities fraud and pay regulators around $801,000 for using insider information to profit from Disney's $4 billion acquisition of Marvel Entertainment in 2009..
WASHINGTON, April 16- The U.S. Navy on Wednesday said it would delay the commissioning of the North Dakota, a new Virginia-class submarine that was due to enter active service on May 31, to carry out more design work and resolve quality problems with certain components.
April 16- Bank of America Corp's financial crisis hangover is lasting longer than expected, leading some investors to wonder if the massive litigation expenses being incurred have become a recurring cost of doing business instead of being dismissed as one-time items.
SAN FRANCISCO— Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.
April 16- Fiat Chrysler Automobiles will announce an agreement by the end of April to allow production of Jeep models in China, the head of the Jeep brand, Mike Manley, said on Wednesday.
*First-quarter revenue falls 4 pct to $22.5 bln. April 16- IBM Corp reported its lowest quarterly revenue in five years on Wednesday as the company struggles with falling demand for its storage and server products. Total revenue fell 4 percent to $22.5 billion in the first quarter, below analysts' average estimate of $22.91 billion.
SUNNYVALE, California— Yahoo co-founder David Filo is vying to rejoin the Internet company's board after an 18- year absence. The other nominees to the board are Charles Schwab, the founder of a stock brokerage that still bears his name, and H. Lee Scott Jr., the former CEO of Wal-Mart Stores Inc. Yahoo Inc. CEO Marissa Mayer is on Wal-Mart's board.
NEW YORK, April 16- Citigroup Inc, which aspires "to become the world's digital bank", will not webcast its annual meeting next week in St. Louis. Of the top six U.S. banks, only Citigroup and Wells Fargo& Co do not allow investors to listen to live audio from their annual meetings.
NEW YORK/ HOUSTON, April 16- Serious crashes in the bustling Bay of Galveston have fallen to the lowest level in a decade even as more oil moves on U.S. waterways, official data show, suggesting that better training and equipment are helping avert spills like one in March.
Rett Wallace, Co-Founder & CEO at Triton Research, says Weibo is a "very robust" company in terms of price despite market concerns about competition with Tencent.
Why high oil prices are actually good for airlines. NEW YORK— Airline executives frequently complain about fuel costs, but higher prices actually have been good for business. The average cost of a roundtrip domestic ticket grew to $378.62 from $351.48 in the last five years, when adjusted for inflation.
PHILADELPHIA— A popular Philadelphia chocolate maker and candy store has been shuttered by the city days before Easter. WPVI-TV said Wednesday the Department of Revenue revoked the business license of the Blasius Chocolate Factory in the city's Kensington neighborhood.
NEWBURGH, N.Y.— State police say a fake hand grenade in a passenger's luggage has disrupted operations at an airport in New York's Hudson Valley. Troopers say Stewart Airport in Newburgh was closed just after 10:30 a.m. Wednesday when the souvenir grenade was found during security screening.
NEW YORK— Online dating service Zoosk is filing for an initial public offering worth as much as $100 million. The San Francisco company wants to list its shares on the New York Stock Exchange under the symbol "ZSK." Zoosk lost $20.7 million in 2012 and pared its deficit to $2.6 million in 2013, while its revenue grew 63 percent to $178.2 million.
April 16- General Motors Co said on Wednesday that it has set up a new fast-track ordering system to accelerate the shipment of parts needed to fix an ignition switch defect that has forced the automaker to recall 2.6 million of its compact cars.