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Updated: 1 hour 28 min ago
Citigroup to pay $75 million to settle SEC charges
NEW YORK (Reuters) - Citigroup Inc will pay $75 million to settle charges that it failed to disclose subprime exposure to investors in 2007, the U.S. Securities and Exchange Commission said on Thursday.
Categories: business
Samsung Elec posts record Q2 on strong chip sales
SEOUL (Reuters) - Samsung Electronics Co, the world's top maker of memory chips and flat screen TVs, reported a record quarterly profit on Friday, aided by strong sales of both of its key products.
Categories: business
Fed officials clash on need for more stimulus
WASHINGTON (Reuters) - Federal Reserve officials clashed on Thursday over whether the central bank should be more aggressive in supporting the stumbling economy and one said the Fed's current policy may be contributing to worryingly low levels of inflation.
Categories: business
SEC charges Wyly brothers with $550 million fraud
NEW YORK (Reuters) - The Securities and Exchange Commission charged billionaire Samuel Wyly and his brother Charles with fraud for reaping more than $550 million of illicit gains by trading stock in four companies while they were serving as directors.
Categories: business
Unemployment claims fall, but still elevated
WASHINGTON (Reuters) - New claims for unemployment benefits slipped last week, but stayed at a stubbornly high level that underscored the labor market recovery was having trouble gaining traction.
Categories: business
Global body proposes rule to end insurer "black box"
LONDON (Reuters) - A global accounting standard setter proposed a new rule for insurers on Friday, aiming to shine a light on a sector criticized by investors for being a "black box" that keeps them in the dark.
Categories: business
MetLife posts Q2 earnings of $1.5 billion, beating Street
NEW YORK (Reuters) - MetLife Inc , the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by higher premium revenue from sales domestically and abroad.
Categories: business
BNP hires ex BofA executive Innes for equity sales
NEW YORK (Reuters) - BNP Paribas SA has hired former Bank of America Corp executive Chris Innes to head equity sales for the Americas in New York, a person familiar with the matter said.
Categories: business
Wall St falls on tech outlook worries
NEW YORK (Reuters) - U.S. stocks sagged in volatile trading on Thursday after weak outlooks from technology companies and downbeat comments from a Federal Reserve official gave investors little reason to buy.
Categories: business
Colgate, Glaxo sue over toothpaste "nurdle"
NEW YORK (Reuters) - Two lawsuits have been filed over a gob of toothpaste.
Categories: business
Small business lending plan blocked in Senate
WASHINGTON (Reuters) - Senate Republicans on Thursday blocked a $30-billion plan to help community banks boost lending to small businesses, dealing a blow to President Barack Obama's election-year battle to reduce unemployment.
Categories: business
Fed's Bullard: buy more Treasuries if prices dip
WASHINGTON (Reuters) - A top Federal Reserve official said on Thursday the Fed should consider buying more Treasury securities instead of promising to hold rates low for an extended period to support the weak economic recovery if inflation drifts lower.
Categories: business
Thomson Reuters forecasts return to revenue growth
NEW YORK (Reuters) - News and data provider Thomson Reuters Corp forecast a return to growth this quarter on stronger sales of financial terminals for traders and the new WestlawNext database for lawyers.
Categories: business
Sony surprises with Q1 profit, raises outlook
TOKYO (Reuters) - Sony Corp lifted its annual outlook and returned to profitability in the first quarter on booming demand for its Bravia flat TVs and PlayStation 3 game consoles.
Categories: business
Exxon, Shell growth now led by natural gas
LONDON/HOUSTON (Reuters) - Exxon Mobil and Royal Dutch Shell Plc reported strong growth in production on Thursday after years of largely falling output, helping to send second-quarter profits soaring.
Categories: business
Toyota recalling over 416,000 cars in U.S., Canada
TOKYO/DETROIT (Reuters) - Toyota Motor Corp said on Thursday it would recall nearly 417,000 high-end passenger cars and SUVs in the United States and Canada to fix steering problems.
Categories: business
Hertz says reviewing Avis' offer for Dollar Thrifty
BANGALORE (Reuters) - Hertz Global Holdings Inc is reviewing Avis Budget Group Inc's bid for Dollar Thrifty Automotive Group , a company spokesperson told Reuters.
Categories: business
Panasonic buying Sanyo and other unit for $9.4 billion
TOKYO (Reuters) - Japan's Panasonic Corp said it would buy out subsidiaries Sanyo Electric and Panasonic Electric Works for up to $9.4 billion in cash and shares to accelerate its push into greener businesses.
Categories: business
Hyundai Q2 profit hits record on U.S. and China demand
SEOUL (Reuters) - Hyundai Motor Co , South Korea's top automaker, said on Thursday its quarterly net profit rose 71 percent to a record high, beating estimates on healthy demand in the United States and China.
Categories: business
Asia shares retreat from highs
TOKYO (Reuters) - Asian stocks edged down from a three-month high and the dollar eased toward three-month lows on Thursday, hit by soft U.S. data that underlined the patchy nature of the U.S. economic recovery.
Categories: business
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