Latest Business News Wires - Business Headlines
More
-
CAIRO/ ALEXANDRIA, Dec 15- Egyptians queued in long lines on Saturday to vote on a constitution promoted by its Islamist backers as the way out of a political crisis and rejected by opponents as a recipe for further divisions in the Arab world's biggest nation.
-
LOS ANGELES/ SAN FRANCISCO, Dec 14- A high-stakes legal battle intensified Friday as the largest U.S. pension fund filed court papers denouncing the financially troubled California city of San Bernardino for what it called a "sham" bankruptcy and accused the city of "criminal behavior" in withholding payments to the pension plan.
-
Edison Mission, the unregulated power generation business of Edison International, is unlikely to make an interest payment on bonds due on Monday and is preparing a bankruptcy filing as early as Sunday to avoid default, according to the source, who declined to be identified because plans are still being finalized.
-
SHANGHAI, Dec 15- China's foreign exchange regulator has removed the $1 billion limit for foreign sovereign wealth funds, central banks and monetary authorities buying Chinese assets through the Qualified Institutional Investor Programme.
-
WASHINGTON, Dec 14- The U.S. Defense Department said on Friday it has finalized a contract for the purchase of a fifth batch of radar-evading F-35 fighter aircraft from Lockheed Martin Corp., a deal worth $3.8 billion for 32 of the advanced planes. It paid $111.6 million for the Air Force version of the plane in the previous contract.
-
*Dow off 0.3 pct, S&P 500 off 0.4 pct, Nasdaq down 0.7 pct. NEW YORK, Dec 14- U.S. stocks fell on Friday as another slide in Apple took a toll and investors unloaded some shares because of the uncertainty surrounding the "fiscal cliff" negotiations.
-
*SeaWorld has been challenging ruling vs trainers swimming with orcas. Orlando, Florida- based SeaWorld may try to raise $500 million to $600 million in the IPO, the sources said on Friday. SeaWorld has selected Goldman Sachs Group Inc and JPMorgan Chase& Co to lead the offering, which could come in early 2013, the sources said.
-
"A lot of firms are saying to their trading desks,' You can take days off for Christmas, but you are on standby to come in if anything happens.' This is certainly different from previous years, especially around this time of the year when things are supposed to be slowing down," said J.J. Kinahan, chief derivatives strategist at TD Ameritrade in Chicago.
-
SAN FRANCISCO, Dec 14- Wal-Mart Stores Inc said on Friday that it began selling Apple Inc's flagship iPhone 5 smartphone at a big discount in thousands of its stores. Wal-Mart said it is selling the 16 GB Apple iPhone 5 for $127, versus an original price of $189.97. However, a Wal-Mart spokeswoman said on Friday that the discounts were arranged with Apple.
-
WASHINGTON, Dec 14- Former IndyMac Chief Executive Michael Perry agreed on Friday to settle a lawsuit filed by the Federal Deposit Insurance Corp that stemmed from the collapse of the bank during the financial crisis, the FDIC said. The FDIC had alleged Perry "negligently" allowed the production of a pool of more than $10 billion in "risky" residential loans.
-
GEORGE TOWN, Cayman Islands, Dec 14- Embattled Cayman Islands Premier McKeeva Bush faced growing pressure to resign on Friday after his arrest on suspicion of theft and corruption in the offshore Caribbean financial center.
-
CAIRO, Dec 15- Egyptians decide on Saturday on a constitution promoted by its Islamist backers as the way out of a prolonged political crisis and rejected by opponents as a recipe for further divisions in the Arab world's biggest nation.
-
SAN FRANCISCO, Dec 14- Wal-Mart Stores Inc said on Friday that it began selling Apple Inc's flagship iPhone 5 smartphone at a big discount in thousands of its stores. Wal-Mart said it is selling the 16 GB Apple iPhone 5 for $127, versus an original price of $189.97. However, a Wal-Mart spokeswoman said on Friday that the discounts were arranged with Apple.
-
*2007-08 minutes another glimpse of how crisis was missed. NEW YORK, Dec 14- Top officials at the Federal Reserve Bank of New York expressed growing but uneven concerns about the brewing mortgage-market crisis in 2007 and 2008, according to minutes of board meetings that underline how authorities failed to grasp the real dangers the economy faced at that time.
-
GEORGE TOWN, Cayman Islands, Dec 14- Embattled Cayman Islands Premier McKeeva Bush faced growing pressure to resign on Friday after his arrest on suspicion of theft and corruption in the offshore Caribbean financial center.
-
NEW YORK, Dec 13- Gold held below $1,700 an ounce on Friday, finishing steady on the day but down for a third week, hampered by thin holiday season trading and uncertainties over stalled U.S. budget negotiations.
-
The FDIC had accused Perry of being negligent in not reducing the bank's core loan volume. Perry's defense lawyers at Covington and Burling said that under the settlement, the FDIC plans to seek $11 million from IndyMac's insurers, as well as a $1 million cash payment. Its collapse cost the FDIC, which stands behind bank deposits, an estimated $12.8 billion.
-
*Dow off 0.3 pct, S&P 500 off 0.4 pct, Nasdaq down 0.7 pct. NEW YORK, Dec 14- U.S. stocks fell on Friday as another slide in Apple took a toll and investors unloaded some shares because of the uncertainty surrounding the "fiscal cliff" negotiations. Apple's stock slid 3.8 percent to $509.79 after UBS cut its price target on the stock to $700 from $780.
-
WASHINGTON, Dec 14- U.S. factory output posted its sharpest increase in nearly a year in November as auto production staged a rebound, while consumer prices slipped, offering cautious optimism for the struggling economic recovery. Factories have bounced back after being held down by Superstorm Sandy, which struck the East Coast in late October.
-
ZURICH/ LONDON, Dec 14- UBS will admit to criminal wrongdoing by its Japanese arm, where one of the Swiss bank's traders manipulated yen Libor and euroyen contracts, to secure a $1- billion- plus settlement with regulators, people familiar with the matter said on Friday.