Reuters: Business News
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Wall Street adds to losses; Dow down 1 percent 17 May 2012 at 9:58pm
NEW YORK (Reuters) - Stocks added to losses late on Thursday, with the Dow falling more than 1 percent, as higher Spanish bond yields increased investor anxiety over that country's banks and another round of weak data undermined hopes for U.S. economic recovery.
Facebook to price IPO, demand seen strong 17 May 2012 at 9:50pm
NEW YORK/SAN FRANCISCO (Reuters) - Facebook Inc is expected to price its initial public offering on Thursday to raise more than $16 billion, as strong demand, particularly from retail investors, fuels anticipation of a big pop in the stock when it begins trading Friday on the Nasdaq.
Senate Banking Committee to ask Dimon to testify 17 May 2012 at 9:50pm
WASHINGTON (Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon will be invited to testify before Congress over the recent trading losses announced by the bank, U.S. Senate Banking Committee Chairman Tim Johnson said in a statement on Thursday.
Gupta trial could feature big corporate stars 17 May 2012 at 9:52pm
NEW YORK (Reuters) - Lloyd Blankfein, Warren Buffett and other well-known chieftains of corporate America might be called to testify at the insider trading trial starting on Monday of former Goldman Sachs Group Inc and Procter & Gamble Co director Rajat Gupta.
HP mulls cutting at least 25,000 jobs: sources 17 May 2012 at 9:25pm
(Reuters) - Hewlett-Packard Co is considering cutting its workforce by 8 to 10 percent, or a minimum of 25,000 jobs, sources familiar with the matter told Reuters, as newly installed CEO Meg Whitman strives to return the storied Silicon Valley institution to growth.
Strong Wal-Mart profit trumps bribery probe concerns 17 May 2012 at 9:00pm
(Reuters) - Wal-Mart Stores Inc's profit and sales surpassed expectations on Thursday as more people shopped at its established U.S. stores and spent more, pushing shares up 5 percent despite ongoing internal and government probes into possible bribery.
GM to make first sports car with SS nameplate 17 May 2012 at 9:28pm
DETROIT (Reuters) - General Motors Co, the largest U.S. automaker, will begin selling its first rear-wheel-drive performance sedan under the Chevrolet brand in the United States in 17 years, it said Thursday.
Warren Buffett to buy Media General newspapers 17 May 2012 at 7:59pm
(Reuters) - Warren Buffett's Berkshire Hathaway Inc is boosting its bet on the newspaper industry, with a deal to buy the majority of Media General Inc's papers for $142 million in cash, making him one of the largest publishers in the United States.
Jobless claims steady, mid-Atlantic factories sag 17 May 2012 at 5:02pm
WASHINGTON (Reuters) - New claims for jobless benefits last week held at levels suggesting sluggish growth in hiring and factory activity in the mid-Atlantic region contracted in May, worrisome signs for a still-fragile economic recovery.
Analysis: Will mild winter mean summertime blues for retailers? 17 May 2012 at 7:55pm
NEW YORK (Reuters) - With the meteoric jump in shares of Apple Inc and turmoil in the bank sector garnering the spotlight in recent months, one group managed to fly under the radar despite strong gains - retailers.
