WELLINGTON, New Zealand— New Zealand dairy giant Fonterra posts record revenue but cuts its projected payout to farmers amid market volatility. On Wednesday Fonterra announced revenue rose 19 percent to 22.3 billion New Zealand dollars in the year ending July when compared to the previous year.» Read More
May 8- Mining financier Silver Wheaton Corp reported a 40 percent smaller profit in the first quarter, hurt by fall in metal prices. Vancouver- based Silver Wheaton helps finance mining projects in exchange for the right to buy future silver production at a set price.
May 8- GrubHub Inc reported higher-than-expected revenue in its first quarterly results as a public company as more people used the online food-delivery service to order takeout meals. GrubHub's shares jumped as much as 8 percent in extended trading on Thursday after the company also forecast current-quarter sales above estimates.
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.
With the personal computer sector losing steam and the chipmaker's move into mobile facing relentless competition, Nvidia is heavily promoting its graphics technology for a wider range of applications, including cars and data centers.
NEW YORK, May 8- Investors in U.S.-based funds pulled more than $7 billion out of stock funds in the week ended May 7, more than the two previous weeks' worth of net inflows, data from Thomson Reuters' Lipper service showed on Thursday. Investors pulled $8.6 billion out of stock exchange-traded funds while committing $1.6 billion to stock mutual funds.
DETROIT, May 8- The headquarters of the newly merged Fiat Chrysler Automobiles will be moved to London, Chief Executive Sergio Marchionne clarified on Thursday, cementing a politically sensitive shift away from Italy, Fiat's home for the past 115 years.
Missouri legislators are considering banning car makers selling direct to the public.
May 8- Vermont on Thursday became the first U.S. state to mandate labeling of foods made with genetically modified organisms as Governor Peter Shumlin signed a law that is expected to be challenged in court by some food and agriculture companies.
May 8- A few years ago, famed financial engineer Andrew Lo built a computer model that allowed one of the biggest U.S. banks to figure out which customers were most likely to fall behind on credit-card payments.
May 8- Rocket Fuel Inc, which provides technology for Web-based video advertising, forecast current-quarter revenue far below analysts' expectations, sending its shares down 28 percent in extended trade. The company said it expects second-quarter revenue to be between $88 million and $92 million.
NEW YORK, May 8- A jury began deliberations on Thursday in the trial of Texas tycoon Samuel Wyly and his late brother, Charles Wyly, whom the U.S. Securities and Exchange Commission accuses of engaging in a $550 million civil fraud.
SHANGHAI, May 9- China's efforts to cool its property sector look to have been more effective than intended, as a sharp drop in construction activity and falling prices threaten what had been one of few firing engines of the world's second-largest economy.
*Japan to shut three naphtha crackers from 2014 to 2016. SINGAPORE/ TOKYO, May 9- A series of Japanese petrochemical plant closures starting this month will crimp demand for naphtha in the world's No.3 economy, dragging on regional markets for the plastic-making ingredient just as supplies are increasing.
*Private banks beefing up Greater China, Singapore teams. SINGAPORE/ HONG KONG, May 9- Alibaba Group Holding Ltd's planned IPO is set to create a long list of multi-millionaires just from its partners in the company- music to the ears of private bankers seeking to cash in on the wealth created by China's tech sector boom.
*Australia's reliance on Chinese resource demand is a major risk. But Australia's reliance on that growth has become a major risk as Prime Minister Tony Abbott and his treasurer, Joe Hockey, prepare for their first budget next week.
BANGKOK, May 9- Thailand's auto sector, Southeast Asia's biggest, has fired more than 30,000 subcontracted workers this year and slashed production, as sales plunge after months of political unrest that threatens to drive some manufacturers offshore.
NEW YORK, May 8- Investors in U.S.-based funds pulled $7 billion out of stock funds in the week ended May 7, more than the two previous weeks' worth of net inflows, data from Thomson Reuters' Lipper service showed on Thursday. Investors pulled $8.6 billion out of stock exchange-traded funds while committing $1.6 billion to stock mutual funds.
May 8- CBS Corp, owner of the most watched U.S. television network, reported lower-than-expected revenue as advertising fell 12 percent, sending its shares down 3 percent in extended trading.
A number of large U.S. retailers, including Costco Wholesale Corp and Victoria's Secret parent L Brands Inc, reported April comparable sales above expectations, helped in part by a later Easter that pushed sales from March, and the end of a harsh winter that had kept many shoppers at home.
May 8- Security software maker Symantec Corp posted a better-than-expected quarterly profit, helped by cost cutting, and forecast current quarter and full-year revenue above Wall Street expectations. Symantec said it expects first-quarter adjusted profit of 41- 43 cents per share on revenue of $1.65- $1.69 billion.