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  Business News

Japanese Futures Little Changed as Investors Watch Greek Talks

BusinessWeek -
By Sarah Jones and Yoshiaki Nohara Feb. 9 (Bloomberg) -- Japanese stock futures were little changed, after the Nikkei 225 Stock Average climbed above 9000 for the first time since October yesterday, as investors await further developments from Greece.

Groupon Has Q4 Loss on Low-Margin Move

Bloomberg -
Enlarge image Groupon Groupon Stephen Yang/Bloomberg Andrew Mason, chief executive officer of Groupon Inc., at the opening bell of the Nasdaq MarketSite in New York on Nov. 4, 2011.

Greek party leaders fail to sign off on bailout

Reuters -
By George Georgiopoulos and Harry Papachristou | ATHENS (Reuters) - Greek political leaders failed early on Thursday to sign off on a tough reform and austerity program, the price of a new international bailout for the nation, but Prime Minister Lucas ...

Cuts Help Cisco Beat Analysts' Expectations

New York Times -
SAN FRANCISCO - John T. Chambers, chief executive of Cisco Systems, made one of his classic bombastic predictions Wednesday claiming that the world's largest maker of computer networking equipment is poised to dominate the construction of cloud ...

New York, California Said to Be Signing on to Mortgage Deal

BusinessWeek -
By David McLaughlin Feb. 8 (Bloomberg) -- New York and California are joining a multistate accord with banks over foreclosure practices, a person familiar with the matter said today.

Bankruptcy lawyers: Student debt is looming economic bomb

USA TODAY -
By James Goodman, Rochester (NY) Democrat and Chronicle ROCHESTER, NY - Student debt is looming as a national problem that could have repercussions reminiscent of the mortgage crisis, says a report by the National Association of Consumer Bankruptcy ...

Jobs rebound dampens QE3 prospects-Fed officials

Reuters -
* Drop in jobless rate casts intrigue on Fed's next move * Case for more stimulus not a 'slam dunk' -Williams * No rationale for further easing 'at all' -Lacker By Ann Saphir and Jonathan Spicer SAN RAMON, Calif.

Diamond Removes CEO, CFO Amid Probe

Wall Street Journal -
By EMILY GLAZER, JOANN S. LUBLIN and JOHN JANNARONE Diamond Foods Inc. fired its chief executive and chief financial officer, and said it would restate financial results for two years, after an internal probe found it had wrongly accounted for payments ...

Oil Trades Near One-Week High on US Crude Supply, Fuel Output

BusinessWeek -
By Ben Sharples Feb. 9 (Bloomberg) -- Oil traded near the highest price in more than a week after US crude stockpiles increased less than analysts forecast and refineries bolstered fuel production in the world's biggest consumer of the commodity.

News Corp. posts 65% income gain on strength of film and cable TV

Los Angeles Times -
News Corp.'s second-quarter net income rises 65% over the same period a year earlier, with revenue up 2%. The British phone hacking scandal is a source of legal costs.

Global Warming Alarmism Points To Bad Karma For Your Tax Dollars

Forbes -
It's too bad that airbags can't save investments in automobile companies. If they could, there might be some hope for taxpayers when Fisker Automotive, another one of Barack Obama's “investments” in “green energy”, crashes and burns financially.

Visa Profit Exceeds Estimates as Credit-Card Spending Rises

BusinessWeek -
(Updates with share price in the fifth paragraph, CEO comments in the eighth and last.) Feb. 8 (Bloomberg) -- Visa Inc., the world's biggest payments network, said fiscal first-quarter profit climbed 16 percent as consumers increased use of credit and ...

Australia's Telstra first half profits up 22.9%

AFP -
SYDNEY - Australia's dominant telecom company Telstra Thursday reported a lower-than-expected 22.9 percent jump in first half profits against what it described as a difficult macroeconomic backdrop.

Repsol YPF Boosts Argentine Oil Resources to 23 Billion Barrels

BusinessWeek -
By Rodrigo Orihuela and Ben Sills Feb. 9 (Bloomberg) -- Repsol YPF SA's Argentine unit said its shale oil resources at the Vaca Muerta formation in the south of the country probably hold about 23 billion barrels, almost half the size of Brazil's ...

Toyota to move Highlander hybrid output to Indiana

Reuters -
By Deepa Seetharaman CHICAGO Feb 8 (Reuters) - Toyota Motor Corp will shift production of its Highlander hybrid sport-utility vehicle from Japan to Indiana, where the company will invest $400 million and add 400 new jobs.

Caesars Surges in First Day of Trading

Wall Street Journal -
By LYNN COWAN And ALEXANDRA BERZON Casino operator Caesars Entertainment Corp.'s initial public offering popped, with shares at one point nearly doubling after the company sold a tiny slice of its stock to investors.

Polycom CFO Kourey To Retire; EA Executive Named As Replacement

Wall Street Journal -
Videoconferencing company Polycom Inc. (PLCM) said its chief financial officer will retire next month to pursue other opportunities, allowing Electronic Arts Inc. (EA) executive Eric Brown to join the company in a new dual role.

Monti Meets Obama Amid Praise for Italy's Debt-Fighting Playbook

BusinessWeek -
By Gregory Viscusi Feb. 9 (Bloomberg) -- Italian Prime Minister Mario Monti, by combining budget cuts with deregulation, has won praise from French President Nicolas Sarkozy for “spectacular progress” in fighting the debt crisis while racing to stay ...

* Chinese firm indicted for espionage conspiracy against DuPont

Reuters -
* Chinese firm indicted for espionage conspiracy against DuPont * Chicago judge convicts woman for stealing from Motorola * Judge in Motorola case clears woman of economic espionage By Dan Levine and James Kelleher SAN FRANCISCO/CHICAGO, ...
   

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