TORONTO, April 20- Rogers Communications Inc posted an unexpected 17 percent drop in quarterly profit on Monday as the cable, phone and media company struggled to hold on to customers during a period of industry-wide turbulence. The Toronto- based company, already struggling to maintain its leading position in the wireless industry, had to deal with regulatory...» Read More
A protest in Washington may underscore public concerns about cloning, but the food industry is in no rush to bring cloned food to market. The FDA says cloning produces no health hazards and doesn't plan to require special labels for food derived from cloned animals.
The Tundra truck -- Toyota Motor’s postmodern combo of blue-collar ruggedness and advanced electronics -- goes on sale this week. How will top automakers confront the competition? That’s one question that drew CNBC’s Phil LeBeau to the Chicago Auto Show.
It's been a year since the Dubai Ports World (DPW) imbroglio. Tomorrow, Rep. Barney Frank, D-Mass., chairman of the House Committee on Financial Services, will convene the HCFS to ask the question: Have we learned anything? That's also what Rob Nichols and Gary Hufbauer are asking.
We’ve been telling you of the huge run-up in the Chinese stock market lately. It has had some froth let out in the past weeks, but the bubble still seems like it could burst for good any time now. Reporting for CNBC, Cheng Lei looked at the day-to-day trading environment in China.
China is experiencing a bull market unlike anything seen since the dot-com glory days of the late 1990’s in the U.S. But there could be a big "uh-oh" moment coming. Analysts, journalists, regulators, even the ruling Communist party, are beginning to take notice that the recent run-up in the Chinese stock market...
The U.S. Senate is almost through debating a bill to raise to the minimum wage. However--Republicans want to amend the bill with provisions including tax breaks for businesses in order to offset the costs of a higher minimum wage. Democrats don't want that. There's also a move to attach tax deferred compensation to the measure.
The House Committee on Oversight and Government reform is looking into allegations the White House tried to suppress information on global warming and climate change. This comes as President Bush just signed a directive that gives the White House much greater control...
Rumors about merger talks between pharmaceutical giants Sanofi-Aventis and Bristol-Myers have picked up speed after French financial newsletter La Lettre de I Expansion reported a deal was in the works. Thomas Burnett, director of research at Wall Street Access, was on “Morning Call” to give his take on the possible friendly takeover.
KB Home is joining what's becoming a long list of companies caught up in the stock back dating issue. The home builder announced that it's under formal investigation by the SEC for improper stock option practices. The company CEO Bruce Karatz resigned (or retired) last fall over the backdating issue. Right now--more than two hundred companies are under a similar microscope (including computer giant Apple).
Frank Quattrone, once the top investment banker in Silicon Valley until he was charged in 2003 with covering up IPO abuses, is planting the seeds of his comeback. Quattrone, who was cleared last year, spoke exclusively with CNBC Senior Correspondent Scott Cohn, his first interview in nearly four years.
Most everyone agrees that President George W. Bush must find common ground with congressional Democrats -- not to mention disaffected Republicans. But after last night's State of the Union address, several polarized camps seem to agree on only one thing: disappointment when it comes to solving America's energy problems.
"We can and must take prompt action to establish a coordinated, economy-wide market-driven approach to climate protection," the executives from a broad range of industries said in a letter to the president.
Sarbanes-Oxley may never work its way into the hearts and minds of Wall Street. The regulation came under attack yet again today (see earlier post on Mayor Michael Bloomberg and NYC's financial services) as a reason New York City and the U.S. are losing their financial edge to cities like London. The complaint is the 2002 law is too much and too costly to obey. And that's driving IPOs, hedge funds and the like...
It's almost the end of the financial world as we know it-- in New York City. At least that's according to New York Mayor Michael Bloomberg (R) and Sen. Chuck Schumer (D-NY). Both men say NYC--and the U.S. for that matter-- are losing their competitive edge as leaders in financial dealings. Today--the politicos released a study done by the mayor's office and consultant group McKinsey that apparently proves the point.
Bank of America wants U.S. regulators to raise the limit that prevents U.S. banks from making acquisitions that would give any one bank more than 10% of total national deposits, The Wall Street Journal reported Tuesday.
A sharply divided FCC voted 3-2 along partisan lines to impose new measures meant to ensure that local governments do not block new competitors from entering the cable television market.
In an exclusive interview with CNBC, SEC Chairman Christopher Cox said the agency is in its best shape ever to oversee a variety of regulatory issues simultaneously, whether it's options backdating or keeping a watchful eye on the derivatives market.
Regulators voted on a proposal that would raise the hurdle investors must meet in order to enter the fast-growing world of hedge funds.
The S.E.C. is meeting right now to vote on a key proposals that could have a major impact on the hedge fund industry. CNBC’s Hampton Pearson had all the details on today's "Power Lunch." Hampton said essentially the S.E.C. is looking to raise the bar on hedge fund investment. Currently hedge funds need to have $200,000 income or $1 million in net worth.
We have more opinions on the regulation of hedge funds. Tomorrow (Wednesday) the S.E.C. meets to consider new rules for hedge funds--which S.E.C. Chairman Christopher Cox calls "risky investments that are not for mom and pop." This year's Amaranth meltdown would seem to support that view (Amaranth lost $6.5 billion in one month in 2006.