OSASCO, Brazil _ Banco Bradesco SA on Thursday reported second-quarter profit of $1.46 billion. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share. Banco Bradesco shares have decreased 28 percent since the beginning of the year.» Read More
LONDON-- Britain's financial regulator has imposed a fine of 4.2 million pounds on a unit of Lloyds Banking Group for having inaccurate mortgage records for 250,000 customers.
Microsoft also disappointed with its latest update, contributing to a broad retreat in technology stocks, as did McDonald's and General Electric. By the time markets closed in Europe, Germany's DAX was down 0.8 percent at 7,380 while the CAC-40 in France fell 0.9 percent to 3,504. The FTSE 100 index of leading British shares was 0.3 percent lower at 5,896..
MUMBAI, India-- Starbucks inaugurated its first store in India Friday in a historic building in southern Mumbai as the Seattle- based coffee giant seeks growth in a market long associated with tea drinkers. After over six years of studying the local market, Starbucks is making a rapid-fire entry into Asia's third-largest economy.
MUMBAI, India-- Starbucks has opened its first store in India in an historic building in south Mumbai as the Seattle- based coffee giant seeks growth in a market long associated with tea drinkers. Chief executive Howard Schultz says India, along with China, are "at the core" of the company's growth strategy.
TOKYO-- Sony Corp. says it plans to close a factory in central Japan, tweaking its restructuring plan by cutting 2,000 jobs from its workforce in moves expected to save it $385 million. Sony said Friday that those functions would be transferred to other factories.
BANGKOK-- Oil prices fell slightly Friday as traders awaited the end of a two-day European Union summit on shoring up the region's stricken banks. Benchmark crude for November delivery was down 12 cents to $91.98 a barrel at late afternoon Bangkok time in electronic trading on the New York Mercantile Exchange.
Britain's FTSE 100 lost 0.1 percent to 5,910.04 in early trading. Microsoft said net income fell a worse-than-expected 22 percent to $4.47 billion in the fiscal first quarter, which ended Sept. 30. BB&T bank, Philip Morris International and Boston Scientific also reported results that fell short of forecasts.
MOSCOW-- Russian police have arrested a government relations manager at British-Russian oil venture TNK-BP on suspicion of fraud. The manager, identified by TNK-BP as Igor Korneyev, is suspected of receiving 3 million rubles as an advance payment for arranging jobs in the Russian presidential administration.
In Friday's statement, the company said Samuelsson, who has spent the last two years on Volvo's board, will replace Stefan Jacoby with immediate effect after the latter entered "an amicable agreement" to leave. Volvo says Samuelsson, who was the CEO of MAN between 2005-2009, will help it improve its performance, especially in China.
Although the leaders meeting in Brussels said their decisions on the watchdog _ the single supervisory mechanism _ were key to shoring up lenders and eventually giving them access to loans from Europe's bailout fund, many observers were struggling to figure out exactly what had been achieved.
"The extraordinary safety record that has been achieved in the United States ironically could be the single biggest reason the isn't able to act proactively and ensure safety into the future," said Bill Voss, president of the industry-funded Flight Safety Foundation in Alexandria, Va., which promotes global airline safety.
"If we can get this fruit harvested, it's a perfect storm for Washington," said Todd Fryhover, president of the Apple Growers Association. " Washington is likely to have a harvest of 108 million bushels, its second highest number on record, industry representatives said.
WASHINGTON-- President Barack Obama has presided over a heyday for the gun industry despite predictions by the National Rifle Association four years ago that he would be the "most anti-gun president in American history."
BERLIN-- A senior figure in Germany's governing coalition whose party has talked particularly tough on Greece has signaled that he's open to giving Athens more time to get its finances in order.
BERLIN-- A senior figure in Germany's governing coalition whose party has talked particularly tough on Greece, is signaling that he's open to giving Athens more time to get its finances in order.
NEW YORK-- At the Missouri college where Quazi Mohammad Rezwanul Ahsan Nafis enrolled, a classmate said he often remarked that true Muslims don't believe in violence.
BANGKOK-- Oil prices were nearly flat Friday as traders awaited the end of a two-day European Union summit on shoring up the region's stricken banks. Benchmark crude for November delivery was down 2 cents to $92.08 a barrel at midday Bangkok time in electronic trading on the New York Mercantile Exchange.
Markets in mainland China, Singapore, Thailand, Indonesia and India were down. Microsoft said net income fell a worse-than-expected 22 percent to $4.47 billion in the fiscal first quarter, which ended Sept. 30. Microsoft shares fell in after-hours trading.
BEIJING-- Foreign investment in China fell again in September and a government spokesman said Friday it was too early to forecast a recovery in trade. The decline in foreign direct investment added to mixed signals about the health of China's economy following Thursday's report that growth slowed to 7.4 percent in the latest quarter.