USA News Headlines: Business

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Monday, 20 April 2015

'Thor's Helmet' is a strikingly beautiful, messy nebula

To celebrate the release of "Age of Ultron," a type of star that will "live fast and die hard" is creating a nebula fitting for a Norse god. (Well, not really for that reason.)

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Wall St. opens up on China, corporate results

(Reuters) - U.S. stocks opened higher on Monday, rebounding after a sharp decline in the previous session, as Chinese steps to stimulate its slowing economy and earnings from Morgan Stanley lured money back into equities.

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Fed's Dudley hopeful on rate hike this year

Economic performance will determine when the Federal Reserve finally raises U.S. interest rates from near zero, an influential Fed official said on Monday, adding he hopes to tighten policy later this year. "We have to see what unfolds," New York Fed President William Dudley said in a speech that repeated cautious optimism that the U.S. economy will continue to expand and that inflation will begin to firm later this year.

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Morgan Stanley profit jumps on higher trading revenue

The bank's trading business, like those of its main rivals, got a boost in the quarter after the Swiss central bank scrapped a cap on the franc, the European Central Bank announced its quantitative easing program and the U.S. Federal Reserve took steps toward tightening monetary policy. "This was our strongest quarter in many years with improved performance across most areas of the firm," Chief Executive James Gorman said in a statement on Monday. Net income applicable to Morgan Stanley's common shareholders rose to $2.31 billion, or $1.18 per share, in the quarter, from $1.45 billion, or 74 cents per share, a year earlier. Adjusted revenue from equities sales and trading rose by a third to $2.27 billion - a strong performance, but not enough to beat Goldman Sachs Group Inc, which reported revenue of $2.32 billion.

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Supreme Court rejects Rajat Gupta's insider trading appeal

By Lawrence Hurley WASHINGTON (Reuters) - The U.S. Supreme Court on Monday left intact the 2012 insider trading conviction of former Goldman Sachs Group Inc director Rajat Gupta. Gupta is the highest-ranking corporate official to be convicted in the U.S. government's multi-year probe of insider trading in the hedge fund industry. The high court rejected Gupta's appeal of a March 2014 ruling by the New York-based 2nd U.S. Circuit Court of Appeals that had upheld his conviction. The government used wiretap evidence to show that Gupta leaked news about Goldman's finances, including a crucial investment by prominent investor Warren Buffett's Berkshire Hathaway Inc, by phone to Galleon Group hedge fund founder Raj Rajaratnam.

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BP says taking more oil from Iraq as payment

BP has been lifting more crude oil cargoes in the past couple of months as payment for its work in southern Iraq, and is comfortable with that level of shipments, a senior executive of the oil company said on Monday. Low oil prices and the fight against Islamic State have forced Baghdad to delay billions of dollars of cash payments which it owes to international oil companies (IOCs), so they have been allowed to take oil shipments instead. Michael Townshend, BP's president in the Middle East, ‎said current total production from Iraq's giant Rumaila field was about 1.4 million barrels per day and was expected to remain steady in 2015.

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Halliburton warns of weakness in North America, international operations

The company posted a better-than-expected quarterly profit on Monday, helped by higher revenue and operating income from Latin America, the Middle East and Asia. The average U.S. rig count has fallen about 40 percent since June and was at 1,110 in March, according to Baker Hughes Inc's closely watched survey. Halliburton agreed to buy Baker Hughes for $35 billion last November, a deal aimed at helping both companies weather the slump in oil and resist pressure from oil producers to slash prices.

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ECB's Nowotny says impact of any Greek exit less now than before: TV

Were Greece to leave the euro, it would not have the same impact on the euro zone as it would have had two years ago, an ECB policymaker said on Monday, urging the Greek government to provide "numbers" to qualify for further aid. "One should not overestimate the whole story," Ewald Nowotny, a member of the European Central Bank's policy-setting Governing Council, told broadcaster CNBC. Asked if a euro [EUR=] weakening to parity with the dollar would not be unwelcome, Nowotny reiterated that the ECB does not target exchange rates as part of its monetary policy.

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Union seeks injunction from labor board over Wal-Mart store closings

Wal-Mart announced last week that it was closing five stores in Texas, Oklahoma, Florida and California temporarily to fix plumbing issues. The United Food and Commercial Workers International Union (UFCW) said it believes the retailer sought to close the Pico Rivera store - one of the five locations - in the Los Angeles area in retaliation for active protesting by workers there in recent years seeking higher pay and benefits. "City officials in Pico Rivera say that nothing has been brought to their attention and no permits at all have been sought for any work," the UFCW said in the claim to be filed to the NLRB. The injunction seeks to have all employees reinstated to their own store or transferred to another store without loss of pay.

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Nomad Holdings to buy UK frozen foods maker Iglo for $2.8 billion

(Reuters) - Nomad Holdings Ltd said it would buy Iglo Foods Holdings Ltd, Europe's biggest frozen foods business and the company behind the Birds Eye brand, for about 2.6 billion euros ($2.8 billion) from a company backed by private equity group Permira. The deal is expected to be funded through a combination of Nomad's cash on hand, equity, and the proceeds from a private placement to raise about $750 million, Nomad Holding, an acquisition company formed in April 2014, said on Monday. UK-based Iglo sells its frozen food such as fish, vegetables and meat across 12 European countries, with a focus on the United Kingdom, Germany and Italy where it has manufacturing plants. Nomad Holdings was founded by Noam Gottesman and Martin Franklin.

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Does Meerkating Count as Networking?

Have you ever thought about how the act of networking is actually quite unnatural? Think about it. A person needs to attend an event, with or without knowing other attendees, and act like it is normal to walk up to complete strangers, shake hands with them, and then begin conversing. During this period both parties are "scoping" each other...

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Encryption: More and more companies use it, despite nasty tech headaches

One in three firms now scramble data to protect it from prying eyes - but encryption remains a complicated technology to manage for most.

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It took two days before someone built their own BB-8 ball droid

The first proper trailer may have stolen the show at Star Wars Celebration, but the revelation that spherical droid BB-8 was a physical prop came a very close second. Like a lot of people, when industrial ...

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Google nearly bought Tesla for $6B in 2013

In a shocking revelation from Ashlee Vance's upcoming book, Tesla's Elon Musk and Google's Larry Page came to a verbal agreement two years ago. For better or worse, the deal fell through.

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Microsoft readies first developer preview of its new microservices Service Fabric

Microsoft's Service Fabric will target first ISVs and startups building public cloud applications, and later come to Windows Server and Linux.

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That ROI-driven process just cost you a customer

Focusing on ROI exclusively works against you, not for you. Are you giving customers the experience they want, or the experience you think they want? In the short term, your approach can cost you customer engagement. In the long term, it can erode your customer base.

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