Home » Business

  • Barclays Planning Exit Of Some Commodities Markets: FT

    Barclays Planning Exit Of Some Commodities Markets: FT

    Barclays is planning to withdraw from parts of the metals, agricultural and energy markets, echoing moves by other major players like JPMorgan Chase and Morgan Stanley away from the commodities business, the Financial Times reported on Sunday. The UK bank is expected to announce the changes on Tuesday, which include heavy cuts to its global commodities trading staff. Source: wochit business

    Continue reading »

  • Brazil´s President Also Responsible For Refinery Deal: Ex CEO

    Brazil´s President Also Responsible For Refinery Deal: Ex CEO

    Brazil´s President Dilma Rousseff must assume her share of responsibility for the controversial purchase of a refinery in Texas by Petroleo Brasileiro SA, the former chief executive of the state-run oil company said in an interview published on Sunday. Rousseff chaired the board of Petrobras in 2006 when it approved the purchase of Pasadena Refining System Inc, near Houston. Its high cost and losses later incurred at the refinery have put Petrobras at the center of a growing political scandal

    Continue reading »

  • What’s Japan’s Guiltiest Secret?: (Hint) It’s Not The Comfort Women

    What’s Japan’s Guiltiest Secret?: (Hint) It’s Not The Comfort Women

    For anyone who follows East Asia, here’s a question: what is Japan’s guiltiest secret? The “comfort women” scandal? The Nanking massacre? Official homage to war criminals at the Yasukuni shrine? No, no, and no. If by a guilty secret we mean something that Japan really really wants to sweep under the rug, top of the list is something that – at least for those of us who know Japan – is hidden in plain sight: the Japanese auto market. Fifty

    Continue reading »

  •  
  • General Mills Scraps Controversial New Legal Terms

    General Mills Scraps Controversial New Legal Terms

    General Mills is scrapping a controversial plan to strip consumers of their right to sue the food company. The company, which owns Cheerios, Progresso and Yoplait, had posted a notice on its website notifying visitors that using the company’s websites or engaging with it online in a variety of other ways meant they would have to give up their right to sue. The Minnesota-based company said that people instead would have to resolve disputes through informal negotiation or arbitration. The

    Continue reading »

  • Even Alex Rodriguez Reportedly Almost Fell Victim To Eike Batista’s Financial Collapse

    Even Alex Rodriguez Reportedly Almost Fell Victim To Eike Batista’s Financial Collapse

    Brazil’s Federal Police have opened an investigation into former Brazilian billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering. At one time the world’s 7th richest person, Batista lost his billionaire status earlier last year after the collapse of his once high-flying oil, mining and logistics empire, which two years ago was valued at over $60 billion and has since accumulated a mountain of debt. Source: wochit business

    Continue reading »

  • Week Ahead: Apple, Facebook Lead Earnings Rush

    Week Ahead: Apple, Facebook Lead Earnings Rush

    U.S. stock investors can expect another wild ride this coming week as almost one third of S&P 500 companies report earnings. Firms delivering results include Apple, Microsoft, General Motors, McDonald’s and Boeing. Wednesday could bring the big corporate news of the week, with both Apple and Facebook reporting earnings after markets close in New York. With Apple, investors will watch closely for any hints of new products or services or any updates on dividends and stock buybacks amid continued pressure

    Continue reading »

  •  
  • How Michael Jordan Outsmarted Robert Johnson And Herb Kohl

    How Michael Jordan Outsmarted Robert Johnson And Herb Kohl

    The sale of the Milwaukee Bucks last week for $550 million shows how Michael Jordan outsmarted a billionaire and a U.S. senator. In June 2003, Jordan was considering whether to either invest in the Bucks or the NBA’s expansion team in Charlotte. He chose neither. BET founder Robert Johnson, bought the Bobcats six months earlier for $300 million, but the Bobcats quickly became a debacle. Jordan eventually bought the Bobcats for just $175 million, which included $25 million in equity,

    Continue reading »

  • Ukraine PM fears new Soviet Union

    Ukraine PM fears new Soviet Union

    Ukraine’s prime minister speaks of fears about how far Vladimir Putin will go in what he called attempts to rebuild the Soviet Union. Paul Chapman reports Source: Reuters Business

    Continue reading »

  • Providence, RI Sues Firms Over Stock Trades

    Providence, RI Sues Firms Over Stock Trades

    Providence, R.I. is suing dozens of Wall Street banks and other financial companies over high-frequency trading. The suit says stock exchanges, investment banks and others defrauded investors by manipulating market data in favor of split-second stock-trading firms. The suit’s defendants include the Nasdaq Stock Market and the New York Stock Exchange; major banks such as JPMorgan Chase, Goldman Sachs and Citigroup; and trading firms including Chopper Trading and Jump Trading. The lawsuit comes amid heightened government scrutiny into whether advantages

    Continue reading »

  •  
  • The Week Ahead: A Spring Breakout For The Economy?

    The Week Ahead: A Spring Breakout For The Economy?

    Just a week ago the stock market was looking quite vulnerable as most of the major averages closed near their lows last Friday, April 11. There were signs of heavy selling, so I concluded last week that “On a short-term basis, the market is getting oversold, so we should see a bounce this week. Unless it is quite strong, it will likely be an opportunity to become more defensive and raise some cash.” The higher close last Monday signaled the

    Continue reading »

  • Rajaratnam’s Brother Loses Bid To Dismiss Insider Trading Charges

    Rajaratnam’s Brother Loses Bid To Dismiss Insider Trading Charges

    Rengan Rajaratnam, the younger brother of imprisoned hedge fund manager Raj Rajaratnam, lost a bid to dismiss some of the insider trading charges leveled against him last year. U.S. District Judge Naomi Reice Buchwald in Manhattan ruled that the indictment adequately alleged the essential elements of the crimes charged. Buchwald agreed that four securities fraud counts were “internally inconsistent” with a conspiracy charge contained in the indictment. Source: wochit business

    Continue reading »

  • Capsize ferry captain arrested

    Capsize ferry captain arrested

    The captain of the South Korean ferry which capsized is arrested as search continues for more than 200 people still missing. Paul Chapman reports. Source: Reuters Business

    Continue reading »

  •