TOKYO, Nov 28- The Japanese government is likely to cut the effective corporate tax rate to below 30 percent in fiscal 2016 from April, a year earlier than planned, people in the government and coalition parties told Reuters Saturday. Relevant ministries and agencies are now in talks to slash the rate to a level between 29.5 percent and 30 percent in April, aiming to...» Read More
THE NEWS: McDonald's Inc. said Friday that its third-quarter net income fell nearly 4 percent as the stronger dollar hurt international results and the chain faced tough competition in the U.S. Revenue was nearly flat at $7.15 billion.
Microsoft and McDonald's are leading a broad decline in the stock market after both companies posted sub-par results for the third quarter. Microsoft's income fell 22 percent as PC sales took a dive and as troubles in Europe took their toll. McDonald's profit fell 4 percent as a strong dollar hurt international results.
BUFFALO, N.Y.-- Shares of Cleveland BioLabs plummeted in morning trading Friday, after the biotech company said it would sell $15 million of its stock in a public offering. Cleveland BioLabs said underwriters will have 30 days to purchase up to 1,250,000 additional shares and warrants for 562,500 shares to cover overallotments.
TORONTO-- The NHL and the players' association agree on one thing: Thursday was a bad day at the negotiating table. Any optimism that existed following the NHL's offer earlier this week of a 50-50 split of hockey-related revenue was dashed when the union countered with three proposals that were quickly rebuffed.
NEW YORK-- Shares of Riverbed Technology climbed more than 10 percent in premarket trading on Friday as the networking company's third-quarter results topped Wall Street's view. For the fourth quarter, Riverbed Technology foresees adjusted earnings of about 29 cents per share on revenue in a range of $230 million to $236 million.
NEW YORK-- Ingersoll-Rand PLC said Friday its third-quarter net income more than tripled, helped by easy comparisons to a prior-year quarter hurt by charges related to the sale of a business.
NEW YORK-- Shares of SanDisk Corp. advanced in premarket trading Friday after the maker of flash-memory chips posted stronger-than-expected results for the third quarter. SanDisk's earnings and revenue declined due to lower demand for its memory chips from gadget makers.
PITTSBURGH-- A man who claims his girlfriend once had a "physical relationship" with retired Pittsburgh Steelers wide receiver Hines Ward was in custody Friday on charges he tried to extort $15,000 from the player by threatening to release evidence the player had paid for sex.
The FDA is not required to follow the committee's advice, though it often does. In its review posted ahead of the meeting, the FDA said Kynamro was linked to both benign and cancerous tumors. Jefferies analyst Eun Yang expects "very limited use of Kynamro if approved," due to the safety concerns brought up at the FDA meeting.
HOUSTON-- Schlumberger's exposure to global markets separated it from the pack as the world's biggest oilfield service company posted a 10 percent jump in net income during the third quarter.
LONDON-- The families of several British soldiers who were killed in Iraq can sue their government for negligence, a court ruled Friday. The High Court backed the families last year, but the Ministry of Defense appealed. On Friday the Court of Appeal agreed with the previous ruling that the families can sue the government for damages on negligence grounds.
NEW YORK-- Marvell Technology Group Ltd.' s stock tumbled nearly 10 percent in premarket trading Friday after the computer chip maker cut its fiscal third-quarter revenue forecast, citing weakness in the personal computer market, and said its chief financial officer resigned.
MADRID-- Spain's main trade unions on Friday called a general strike for Nov. 14, coinciding with similar demonstrations in Portugal and Greece, to protest government-imposed austerity measures and labor reforms. The Workers' Commissions and General Workers' unions called the general strike _ the second to be held in Spain this year.
MANILA, Philippines-- A senior official said Friday China wants to improve relations with the Philippines following a strain in relations over a territorial dispute in the South China Sea.
NEW YORK-- Shares of Google Inc. perked up in premarket trading Friday as analysts soothed investors shocked by an earnings report that dropped prematurely on Thursday. Google was supposed to release its report after the market closed Thursday, but they leaked prematurely, setting off the stock plunge.
BEIJING-- China flexed some maritime muscle Friday in its dispute with Japan over a chain of uninhabited islands, holding naval exercises in the East China Sea to demonstrate its ability to enforce offshore territorial claims. Tokyo angered Beijing last month by nationalizing some of the islands, in a move that sparked violent protests in China.
TOKYO-- A philanthropic organization working with the Japanese government will give $3 million in humanitarian aid to Myanmar's armed ethnic minorities, saying it's the first such aid approved by Myanmar's government.
SAN FRANCISCO-- A Las Vegas developer has been bounced between tribal and federal court in an effort to protect his financial interest in the Grand Canyon Skywalk, a popular glass bridge that extends from the canyon's edge on tribal land in western Arizona.