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BUSINESS

  • Black Friday deals may not signal retail comeback Posted 1 hour, 27 minutes ago

    CHICAGO (Reuters) - When the U.S. holiday shopping season kicks off on the day after Thanksgiving, retailers can expect to see millions of less frightened but even more bargain hungry customers cross their thresholds. Industry experts expect a strong turnout on Black Friday, which falls on November 27 this year ... More

  • U.S. Q3 seen revised down on widening trade deficit Posted 1 hour, 50 minutes ago

    WASHINGTON (Reuters) - The U.S. economy's return to growth in the third quarter was less brisk than previously thought as the trade deficit worsened and companies still aggressively cut inventories, a Reuters survey predicted. The poll of 66 economists forecast real gross domestic product growth would be revised down ... More

  • Ex-Vivendi CEO Messier testifies: Losses not fraud Posted 2 hours, 4 minutes ago

    Messier of Vivendi leaves the Elysee Palace in Paris NEW YORK (Reuters) - Former Vivendi CEO Jean-Marie Messier told a U.S. jury he "never, never, never" committed fraud as he took the stand on Friday in a civil trial pitting international shareholders against the French conglomerate and former top executives. Messier, the first defense witness in the securities fraud ... More

  • U.S. lawmakers urged to drop clearinghouse owner cap Posted 2 hours, 37 minutes ago

    NEW YORK (Reuters) - NYSE Euronext <NYX.N>, LCH.Clearnet, BATS Global Markets and other firms partnered with banks have urged two U.S. legislators to drop a proposed "rigid" cap on dealer ownership of clearinghouses, according to a letter sent this week. The letter to Representatives Barney Frank and Spencer ... More

  • Rio's Cloud Peak down in debut, others fare better Posted 3 hours, 35 minutes ago

    NEW YORK (Reuters) - Investors bet on growth opportunity in the IPOs of a Chinese hotel chain and an online education company on Friday, but saw murkier prospects for a spin-off of mining giant Rio Tinto, sending its shares lower. Rio Tinto's U.S. coal-mining spin-off Cloud Peak Energy Inc ... More

  • Existing home sales seen at highest since July 2007 Posted 3 hours, 40 minutes ago

    A home is seen for sale in the Washington suburb of Takoma Park New York (Reuters) - Sales of existing U.S. homes likely rose for second consecutive month in October, reaching their highest level since July 2007, according to a Reuters poll, as buyers scrambled to take advantage of greater affordability and a first-time home buyer tax credit. The survey of 29 economists ... More

  • Cautious optimism as job losses slow in U.S. states Posted 3 hours, 50 minutes ago

    People look for work at state employment department in San Francisco WASHINGTON (Reuters) - The pace of job losses slowed in many U.S. states in October, and the unemployment rate slipped in hard-hit Michigan, the Labor Department said on Friday, hinting the recession may be easing in some areas. Michigan's jobless rate fell to 15.1 percent in October from ... More

  • U.S. layoffs fall in October Posted 5 hours, 35 minutes ago

    Gary Simpson, an employee at the Virginia Employment Commission office, posts job postings at the of WASHINGTON (Reuters) - The number of mass layoffs reported by U.S. employers fell last month from September, a government report showed on Friday, suggesting job losses were close to bottoming. The Labor Department said the 2,127 mass layoff actions reported in October -- defined as job cuts involving at least ... More

  • Rio Tinto unit Cloud Peak falls in NYSE debut Posted 6 hours, 25 minutes ago

    NEW YORK (Reuters) - Cloud Peak Energy Inc <CLD.N>, a unit of Rio Tinto Plc, fell in its debut on the New York Stock Exchange on Friday after its shares priced below expectations in the U.S. coal miner's initial public offering. Shares opened at $14.50, more than ... More

  • P&G repurchasing shares, quiet on potential deals Posted 7 hours, 12 minutes ago

    Boxes of Tide detergent, a Procter & Gamble product, sit on a shelf in a store in Alexandria CHICAGO (Reuters) - Procter & Gamble Co <PG.N> does not see acquisitions as a core part of its growth plan and has started to buy back shares again, Chief Financial Officer Jon Moeller said on Friday. "There seems to be continuous speculation ... about what P&G may buy or sell," Moeller ... More