Archive for businessNews
BHP chairman sees commodity markets cooling further
SYDNEY (Reuters) - BHP Billiton , the world's biggest miner, said it expects commodity markets to cool further and that investors had lost confidence in the longer-term health of the global economy.
Foreclosed Americans find way back to homeownership
NEW YORK (Reuters) - When Jennifer Anderson's family could no longer afford their mortgage and lost their home, she expected many years to pass before they would again become property owners.
Global shares fall as Greek turmoil saps risk appetite
TOKYO (Reuters) - Asian shares fell and the dollar rose broadly on Wednesday after efforts to form a new government in Greece collapsed, fuelling fears that a second election in June could precipitate Athens' exit from the euro zone and deepen the bloc's debt crisis.
GM to drop Facebook ads due to low consumer impact
DETROIT/SAN FRANCISCO (Reuters) - General Motors Co said on Tuesday it will stop advertising on Facebook, even as the social networking website prepares to go public, with a source familiar with the matter saying the automaker had decided Facebook's ads had little impact on consumers.
Facebook boosts IPO size by 25 percent, aims for $15 billion
NEW YORK/SAN FRANCISCO (Reuters) - Facebook Inc will increase the size of its initial public offering by 25 percent to raise about $15 billion, a source familiar with the matter said, as strong investor demand for a share of the No.1 social network trumped ongoing debate about the company's long-term potential to make money.
FBI probes JPMorgan, shareholders back Dimon
TAMPA, Florida (Reuters) - The FBI has opened an inquiry into the multibillion-dollar trading losses at JPMorgan Chase, stepping up pressure on the bank after key U.S. agencies said they were looking into high-risk trades that first drew regulators' attention last month.
Chesapeake hikes loan as credit rating fades
(Reuters) - Chesapeake Energy Corp increased a planned loan even as its credit rating deteriorated on Tuesday, adding pressure on the natural gas producer to deliver crucial asset sales.
Obama has assets in JPMorgan accounts: White House
WASHINGTON (Reuters) - President Barack Obama has $500,001 to $1 million in a JPMorgan Chase private client asset management checking account, according to financial disclosures released by the White House on Tuesday.
Berkshire adds GM, Viacom positions in first quarter
(Reuters) - Berkshire Hathaway added new positions in automaker General Motors and media conglomerate Viacom in the first quarter and cut its stake in chipmaker Intel by 33 percent, the conglomerate said in a quarterly holdings statement on Tuesday.
S&P 500 in third straight drop, J.C. Penney off late
NEW YORK (Reuters) - Stocks fell for the eighth day in the past 10 on Tuesday as uncertainty stemming from the political stalemate in Greece gave investors another reason to be cautious and sellers came out in force late in the session.
