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Top News & Analysis San Francisco


  • Sahara's head of corporate finance, Sandeep Wadhwa, said Sahara's lawyers had verified with Bank of America that Sharma has deposited just over $1 billion in an account at the bank that is "earmarked for the said transaction." After Reuters asked the bank to look into the account, spokeswoman Jumana Bauwens issued a statement saying: " Bank of America isn't...

  • NEW YORK, Feb 4- Jury deliberations began on Wednesday in the trial of the suspected mastermind behind the underground website Silk Road, who prosecutors say orchestrated a scheme that enabled around $200 million of anonymous online drug sales using bitcoins. Silk Road operated from at least January 2011 to October 2013, when authorities seized the website...

  • SEOUL, Feb 4- Online ride-service provider Uber Technologies Inc proposed on Wednesday a new registration system for its drivers in South Korea, seeking to overcome a ban on connecting passengers to private cars in Asia's fourth-largest economy. The changes flagged for South Korea have already been implemented in cities such as London, Los Angeles and New...

  • *Total deal value of about $5.8 bln, including $2.6 bln debt. Feb 3- J M Smucker Co has agreed to buy Big Heart Pet Brands for $3.2 billion, snapping up the popular Meow Mix and Milk-Bone brands in its first venture into the fast-growing U.S. pet food market. Big Heart is owned by private equity firms Kohlberg Kravis Roberts& Co LP, Vestar Capital Partners, Centerview...

  • Feb 3- J M Smucker Co, the maker of Folgers coffee, said it would buy pet food maker Big Heart Pet Brands, known for brands such as Meow Mix and Milk-Bone, for $3.2 billion to enter the pet food market. Big Heart, formerly Del Monte Corp, changed its name following the sale of its fruit, vegetable, and other consumer foods business in February last year.

  • NEW YORK, Feb 3- A U.S. prosecutor sought on Tuesday to dissuade jurors of believing that the man who created the underground website Silk Road abandoned the venture before authorities shut it down, saying he operated it from beginning to end. Ross Ulbricht, who is on trial in Manhattan federal court, admits to creating Silk Road, where drugs and other goods could be...

  • SAN FRANCISCO, Feb 2- Alibaba Group Holding Ltd is teaming with LendingClub Corp to offer financing to U.S. businesses to buy from Chinese suppliers, hoping to make it easier for American firms to tap the world's largest economy. LendingClub, an eight-year-old San Francisco startup, said it will provide its core service of matching small business borrowers with...

  • And the next likely regional Fed presidents are... Sunday, 1 Feb 2015 | 3:36 AM ET
    Matthew Rutherford, assistant secretary for financial markets at the U.S. Treasury

    A U.S. Treasury official and a director at the New York Federal Reserve are among those who have been considered to replace two hawkish Fed policymakers, according to people familiar with the searches.

  • Fed's Williams: 3% growth, full employment in 2015 Friday, 30 Jan 2015 | 2:54 PM ET
    John Williams, president and chief executive officer of the Federal Reserve Bank of San Francisco.

    Despite predicting strong growth and employment, the central banker said the Fed would not hit its inflation target until 2016.

  • Fed's Williams on global growth Friday, 30 Jan 2015 | 2:20 PM ET
    Fed's Williams on global growth

    In a web exclusive, San Francisco Fed President John Williams talks about fears of global economic slowdown and what it could mean for the Fed.

  • Fed's Williams on rate hike Friday, 30 Jan 2015 | 2:20 PM ET
    Fed's Williams on rate hike

    In a web exclusive, San Francisco Fed President John Williams talks about timing for the Fed's rate hike.

  • Unemployment at 5% by end of year: Fed's Williams Friday, 30 Jan 2015 | 2:13 PM ET
    Unemployment at 5% by end of year: Fed's Williams

    John Williams, President & CEO San Francisco Federal Reserve, discusses today's GDP number, which he says doesn't concern him too much. He believes the economy will reach "full" employment by the end of this year.

  • Gold stolen from Wells Fargo museum Tuesday, 27 Jan 2015 | 7:47 PM ET
    In this file photo, people enter and exit the Wells Fargo History Museum in San Francisco.

    Three masked men used an SUV to smash their way into a San Francisco Wells Fargo History museum stealing 10 ounces of gold.

  • Apple's Cook gets hefty bonus for 2014 Friday, 23 Jan 2015 | 6:48 AM ET
    Apple CEO Tim Cook speaks in Laguna Beach, Calif.

    Apple CEO Tim Cook got a hefty cash bonus that brought his total compensation to $9.2 million last year.

  • Apple CEO Tim Cook gets a hefty bonus for 2014 Friday, 23 Jan 2015 | 5:01 AM ET
    Apple CEO Tim Cook visits a China Mobile shop in Beijing, China.

    Apple CEO Tim Cook got a hefty cash bonus that brought his total compensation to $9.2 million last year.

  • Meet San Francisco's new weed of the month club Wednesday, 21 Jan 2015 | 4:02 PM ET
    Bagged marijuana

    Marvina is a premium cannabis provider that offers a monthly delivery service of marijuana to consumers in San Francisco.

  • Facebook hiring spree hints at virtual reality plans Sunday, 18 Jan 2015 | 8:01 AM ET
    In June, Oculus showcased its VR Rift Development Kit 2 headset at the E3 Electronic Entertainment Expo in Los Angeles.

    Virtual reality goggles, drones and data centers are all driving a hiring spree at Facebook that is set to swell its ranks as much as 14 percent.

  • US gas prices haven't been this low since... Monday, 12 Jan 2015 | 8:06 AM ET
    The gas cash price for regular fuel is displayed at $1.79 a gallon at a Mobil station in Livonia, Mich., Jan. 6, 2015.

    The average price of gas in the U.S. fell to its lowest level since April 2009, according to the Lundberg survey released Sunday.

  • Gap's key sales metric up 3% for holiday period Friday, 9 Jan 2015 | 12:36 PM ET
    Pedestrians walk past an Old Navy store with discount signs, New York.

    Gap that a key revenue metric rose 3 percent for the holiday period, as surging sales at its Old Navy chain offset sluggish business at Gap.

  • Renters' paychecks hit hard in priciest cities Thursday, 8 Jan 2015 | 3:30 PM ET
    A banner and sign advertise apartments for rent in San Francisco.

    Fast-rising rents in the priciest U.S. cities are eating up more than half of some apartment dwellers' paychecks.