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GM CEO Barra confident about value of company's stock

Breaking Business News - Mon, 05/04/2015 - 15:15
KANSAS CITY, Kan. (Reuters) - General Motors Co's chief executive said on Monday she is confident the company will convince investors of the value of holding on to GM's stock, which has dropped nearly 9 percent since mid-March despite a $5 billion share buyback plan.

Cisco veteran Robbins to take over as CEO from Chambers

Breaking Business News - Mon, 05/04/2015 - 15:00
(Reuters) - Cisco Systems Inc Chief Executive John Chambers will step down in July after 20 years at the helm of the network equipment maker, a symbol of the dot.com stock boom 15 years ago now struggling to boost its bottom line in the era of cloud computing.

Wall St. higher led by health, finance stocks

Breaking Business News - Mon, 05/04/2015 - 14:46
(Reuters) - Wall Street was up on Monday afternoon, adding to gains from Friday, as investors bought beaten-down healthcare stocks and Berkshire Hathaway led finance stocks higher.

Greenlight's Einhorn slams oil frackers, Meister touts Yum at Sohn

Breaking Business News - Mon, 05/04/2015 - 14:32
NEW YORK (Reuters) - Billionaire hedge fund manager David Einhorn kicked off the 20th annual Sohn Investment Conference in New York on Monday by laying out his case against oil frackers, arguing that these companies drill "lots and lots of holes" and burn through plenty of cash.

Fed's Evans: rate hikes could start sooner, if kept slow

Breaking Business News - Mon, 05/04/2015 - 14:26
COLUMBUS, Ind. (Reuters) - With U.S. inflation uncomfortably low and the unemployment rate still too high, the Federal Reserve should hold off on raising short-term interest rates until early next year, a top Fed policymaker said on Monday.

GE ties up with Qualcomm, Apple in new lighting business bet

Breaking Business News - Mon, 05/04/2015 - 14:20
(Reuters) - General Electric Co on Monday announced collaborations with Qualcomm Inc and Apple Inc as it uses digital technology and the growing appetite for data to reinvigorate its 130-year-old lighting business.

GE boss to meet EU antitrust chief probing Alstom deal: source

Breaking Business News - Mon, 05/04/2015 - 14:17
BRUSSELS (Reuters) - General Electric's CEO will meet Europe's antitrust chief on Tuesday, according to a source, in what is expected to be a push for unconditional EU approval for its 12.4-billion-euro ($13.8 billion) bid for an Alstom business.

U.S. factory orders rebound solidly, but trend still soft

Breaking Business News - Mon, 05/04/2015 - 13:37
WASHINGTON (Reuters) - New orders for U.S. factory goods recorded their biggest increase in eight months in March, boosted by demand for transportation equipment, but the underlying trend remained weak against the backdrop of a strong dollar.

McDonald's reset to change structure, cut costs, boost franchises

Breaking Business News - Mon, 05/04/2015 - 12:32
(Reuters) - McDonald's Corp's new chief executive officer said on Monday he would reorganize business units, sell restaurants to franchisees and cut costs in a bid to turn the fast-food chain into a "modern, progressive burger company."

Buffett defends core holdings like IBM, Coca-Cola, in interview

Breaking Business News - Mon, 05/04/2015 - 12:20
NEW YORK (Reuters) - Billionaire investor Warren Buffett defended some of his core holdings in a televised interview on Monday, but reiterated that equities in general would look expensive in an environment with normal interest rates.

WSJ’s Gigot named chair of Pulitzer board

Talking Biz News - Mon, 05/04/2015 - 12:07
Paul Gigot, the editorial page editor and vice president of The Wall Street Journal, has been elected chair of the Pulitzer Prize board. Gigot succeeds Danielle Allen, a scholar and author who is the...

Supreme Court hands win to Barclays over $4 billion in Lehman assets

Breaking Business News - Mon, 05/04/2015 - 11:17
WASHINGTON (Reuters) - The U.S. Supreme Court on Monday allowed Barclays Plc to claim about $4 billion of disputed assets as part of its hurried purchase of much of Lehman Brothers Holdings Inc's[LEHRG.UL] brokerage unit at the height of the 2008 financial crisis.

Bull market 'supercycle' for stocks, bonds ending: Bill Gross

Breaking Business News - Mon, 05/04/2015 - 10:43
NEW YORK (Reuters) - The bull market "supercycle" for stocks and bonds is approaching an end, as the unconventional monetary policies that have bolstered asset prices since the financial crisis are running out, widely followed investor Bill Gross said on Monday.

Business Insider hires Stenovec as its tech editor

Talking Biz News - Mon, 05/04/2015 - 10:24
Business Insider has hired Timothy Stenovec, a technology reporter at The Huffington Post, to be technology editor. He starts May 11 and will cover apps. At The Huffington Post, he covers streaming media such...

Bank of America plans vote on change allowing CEO to be chairman

Breaking Business News - Mon, 05/04/2015 - 09:49
NEW YORK (Reuters) - Bank of America Corp plans to hold a shareholder vote on the change the board made in October to company bylaws to allow Chief Executive Officer Brian Moynihan to also be chairman.

Oil slips after hitting 2015 high above $67

Breaking Business News - Mon, 05/04/2015 - 09:42
LONDON (Reuters) - Oil eased toward $66 a barrel on Monday after reaching a 2015 high, as ample current supplies and weak Chinese factory activity countered expectations of a tighter supply and demand balance later this year.

International Biz Times hires Murray Waas

Talking Biz News - Mon, 05/04/2015 - 09:06
International Business Times announced Monday that prize-winning journalist Murray Waas is joining the newsroom as senior investigative reporter. He will be based out of Washington, D.C. but will report from across the country. In...

China April HSBC PMI shows biggest drop in factory activity in a year

Breaking Business News - Mon, 05/04/2015 - 08:31
BEIJING (Reuters) - China's factories suffered their fastest drop in activity in a year in April as new orders shrank, a private business survey showed on Monday, hardening the case for fresh stimulus measures to halt a slowdown in the world's second-largest economy.

VW board will discuss recruitment of new chairman: sources

Breaking Business News - Mon, 05/04/2015 - 08:22
BERLIN/HAMBURG (Reuters) - Volkswagen's supervisory board will on Monday discuss finding a new chairman to fill the void left by Ferdinand Piech's shock departure last month, sources told Reuters.

Coverage: China manufacturing down

Talking Biz News - Mon, 05/04/2015 - 08:04
The news out of China continues to be disappointing with manufacturing putting in one of its worst performances. That’s not good news for those looking to the economic giant for growth. The Wall Street...