Greek Foreign Minister Nikos Kotzias said on Friday he respects Germany just not German politics, nor the way Berlin views Greece's economy, which faces the prospect of running out of money if it cannot agree to new bailout terms with creditors. Kotzias is part of the leftist government that took over in January after an anti-austerity campaign promising to roll back reforms and cutbacks agreed by the prior government to improve Greece's finances. Kotzias said Greece and its euro zone partners need to compromise on creating political policies that will foster growth and allow the country to pay its debts. "Do they want to support us to have growth... or do they decide to have Greece struggle, to punish Greece and to create an example of what happens to a country that has a left government," Kotzias said at the end a four-day visit to Washington and New York.
The U.S. has asked UK authorities to hand over Navinder Singh Sarao, 36, after his arrest this week on charges that he manipulated markets over several years in a fraudulent scheme that helped cause the stock market rout. The U.S. Department of Justice alleges that Sarao used souped-up, off-the-shelf software to trick other market participants into thinking massive sell orders were about to hit, causing the so-called E-mini S&P futures prices to drop so he could buy at cheaper levels. Linking Sarao to the flash crash "smacks of sensationalism," said Manoj Narang, founder of Tradeworx, a firm that supplies data for regulators.
The Nasdaq Composite and S&P 500 chalked up record high closes on Friday, propelled by strong results from tech behemoths Google, Amazon and Microsoft. The Nasdaq Composite added 0.71 percent to end at ...
The collapse of the deal opens the door for other possible offers for Time Warner Cable, but also casts heightened regulatory risk on merger activity in the U.S. cable industry, which has been rapidly consolidating in the face of competition from satellite TV and Web-based services. Comcast had argued the merger would bring faster service and better video services to more Americans. Charter Communications Inc lost out on a bid for Time Warner Cable last year, and Charter's controlling shareholder, Liberty Media Corp, had since indicated continuing interest. Time Warner Cable shares last traded at $152.52, up 2.5 percent on the day.
Japanese consumer electronics firm Sony Corp has raised its operating profit estimate for fiscal 2015 to 300 billion yen ($2.52 billion), or four times its previous estimate, the Nikkei reported on Saturday. Expectations for higher sales of display sensors used in mobile phones and the Playstation gaming console were the reason Sony raised its forecast, the Nikkei reported without citing sources. No one from Sony was available to comment. Sony also expected earnings in the fiscal year that ends in March 2016 to improve as restructuring costs had been declining, the Nikkei said.
U.S. business investment spending plans fell for a seventh straight month in March, weighed down by a strong dollar and lower energy prices, suggesting the economy was struggling to rebound from a recent soft patch. The report from the Commerce Department on Friday came on the heels of lukewarm data on retail sales, employment and housing starts that have hinted at insufficient growth momentum that could prompt the Federal Reserve to delay raising interest rates until later this year. It's shedding more doubt on the Fed's willingness to raise rates mid-year," said Gennadiy Goldberg, an economist at TD Securities in New York. Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, declined 0.5 percent last month after a revised 2.2 percent drop in February, which was the biggest decline since July 2013.
NEW YORK/TOKYO (Reuters) - The Apple Watch launched quietly around the world on Friday without the usual frenzy or fanfare for an Apple Inc rollout, as a handful of boutiques in major cities like Tokyo and Paris sold the timepiece - but not for purchase at its own stores. Shops included The Corner in Berlin, Colette in Paris, Maxfield in Los Angeles and Dover Street Market in Tokyo and London. Apple courted the outlets to promote the watch as a fashion item rather than just another techie gizmo. The watch has been on display in Apple stores since April 10, when it became available for preorder.
HSBC, Europe's biggest bank, has ordered a review into whether it should move its headquarters out of Britain and potentially back to its former home in Hong Kong, threatening London's reputation as a global hub for finance and investment. The announcement from HSBC, founded in Asia but a key part of the British establishment, prompted a warm response from Hong Kong, where it is revered as "The Bank", and silence from the British government. The commitment to the review comes less than two weeks before British parliamentary elections on May 7 and poses challenges for both Prime Minister David Cameron and his main challenger, Labour party leader Ed Miliband. HSBC has been one of the most vocal critics of the regulations and additional taxes imposed on British banks in the wake of the 2007-2009 financial crisis and Chairman Douglas Flint singled out the threat of Britain withdrawing from the European Union in a speech to investors on Friday.
Ford Motor Co said on Friday it is recalling about 390,000 Ford Fiesta and Fusion and Lincoln MKZ models in North America because of a potential door latch malfunction. The driver's door can become unlatched while the car is in motion, increasing the risk of injury, Ford said. Affected vehicles were produced at Ford plants in Mexico, including the 2012-2014 Fiesta, the 2013-2014 Fusion and the 2013-2014 Lincoln MKZ.
The building is home to Futex, one of several so-called "trading farms" in the UK that give training, office space and equipment to people prepared to make short-term trades, mostly within a day, with their own money in the hope of being hired or sponsored for a cut of their profits. Navinder Singh Sarao - who has been accused by U.S. authorities of contributing to the May 2010 "flash crash" in Wall Street - worked there between early 2003 and early 2008, according to a statement by Futex on Friday. "(Sarao) sat in a separate part of the company, away from the rowdy bunch," said Simon Maelzer, who worked at Futex for a few months in 2008.
The Nasdaq and S&P 500 ended at record highs on Friday, propelled by strong results from tech behemoths Google, Amazon and Microsoft. All three major indexes also posted gains for the week.
Marc Benioff said he is reviewing the company's payroll records and dishing out raises to women when necessary to ensure equal pay.
The White House on Friday dashed hopes of a breakthrough on U.S.-Japan trade when President Barack Obama and Prime Minister Shinzo Abe meet in Washington next week, further delaying a major 12-nation Pacific trade pact. "We're not there yet," said Caroline Atkinson, Obama's deputy national security adviser. A deal between Japan and the United States is vital to clinching a Trans-Pacific Partnership pact, as their economies account for 80 percent of the group.
Euro zone finance ministers warned Greece on Friday that its leftist government will get no more aid until it agrees a complete economic reform plan, as Athens lurches closer to bankruptcy. Greek Finance Minister Yanis Varoufakis faced a harsh morning in which euro zone ministers bemoaned talks they felt "were going nowhere" and one minister said that maybe it was time governments prepared for the plan B of a Greek default. Jeroen Dijsselbloem, the Dutch finance minister who chaired the meeting in the Latvian capital, slammed the door on Varoufakis' proposal for early cash after partial reforms.
This is a comparison of Amazon's and Microsoft's cloud businesses over the five most recent quarters.
The deal is dead. The $45 billion merger between Comcast and Time Warner Cable, that is. But is a new deal in the offing?
Harris Poll's EquiTrend survey asked 38,000 consumers about three factors of about 1,400 brands: familiarity, quality and consideration.
Charter Communications is reportedly drawing up plans to potentially buy Time Warner Cable, just hours after Comcast dropped its bid for the firm.
Amazon shares are rocketing up to fresh all-time highs. And while the e-commerce giant shocked the Street with profitability in its cloud unit, there's more driving the bulls.
PepsiCo Inc. will start selling Diet Pepsi without aspartame later this year, the biggest change to the beverage in three decades, after a consumer backlash against the artificial sweetener crushed sales. The company will replace aspartame with a blend of sucralose and acesulfame potassium in Diet Pepsi, Caffeine Free Diet Pepsi and Wild Cherry Diet Pepsi sold in the U.S. beginning in August. The move follows a 5.2 percent decline in Diet Pepsi’s sales volume last year, according to Beverage-Digest. Sales of Coca-Cola’s Diet Coke, which also uses aspartame, dropped 6.6 percent.
Stocks advanced slightly Friday as investors cheered the quarterly results of three large technology companies: Google, Microsoft and Amazon. The modest gains helped close out a relatively strong week ...
The Briton blamed for contributing to the May 2010 flash crash maintained frenetic relationships with a series of brokers, banks and software firms that appear to mirror his rapid-fire trading activity.
Microsoft engaged in about $15 billion in currency hedging in the latest quarter, analyst Rick Sherlund says.
Saudi Arabia has a response to the global surplus of oil: Raise output to near-record levels and then pump even more.
General Motors Co (GM.N) Chief Executive Officer Mary Barra, who last year became the first woman to lead a major U.S. automaker, received $16.2 million in 2014 compensation, up 78 percent from her predecessor's total the previous year. Most of Barra's compensation is tied to stock awards that she cannot cash in yet. She received $4.55 million in salary and other liquid compensation for 2014, GM said in a proxy filed on Friday with the U.S. Securities and Exchange Commission. Barra, 53, replaced Dan Akerson, now 66, as CEO in January 2014.
The key thing to watch today is how the markets deal with a lack of resolution, across several fronts.
The collapse of the deal opens the door for other possible offers for Time Warner Cable, but also casts heightened regulatory risk on merger activity in the U.S. cable industry, which has been rapidly consolidating in the face of competition from satellite TV and Web-based services. Comcast had argued the merger would bring faster service and better video services to more Americans. Charter Communications Inc (CHTR.O) lost out on a bid for Time Warner Cable last year, and Charter's controlling shareholder, Liberty Media Corp (LMCA.O), had since indicated continuing interest. Time Warner Cable shares last traded at $152.52, up 2.5 percent on the day.
Apple aims to ship at least 20 million Apple Watches this year, well above many analysts' forecasts, according to supply chain sources.
After a period of relative stability in oil prices, a slew of market participants are growing increasingly upbeat on a turnaround for the commodity.
Dipping into this “fracklog” would add an extra 500,000 barrels a day of oil into the market by the end of next year, Bloomberg Intelligence said in an analysis on Thursday. Producers in oil and gas fields from Texas to Pennsylvania have 4,731 idled wells at their disposal. “Once service costs come down and drillers begin to work through their higher-than-normal backlog, the market should start to price in that supply coming online,” Andrew Cosgrove, an energy analyst for Bloomberg Intelligence in Princeton, New Jersey, said by phone. West Texas Intermediate for June delivery fell $1.16 to $56.58 a barrel at 11 a.m. on the New York Mercantile Exchange.
Euro-area finance ministers voiced their frustration with Greece after Prime Minister Alexis Tsipras tried to bypass their veto on financial aid with an appeal to Angela Merkel. “I demand very urgently that we get results on the table,” Austrian Finance Minister Hans Joerg Schelling said before sitting down for talks. Tsipras sought to circumvent the finance ministers’ authority less than 24 hours earlier, pleading his case with German Chancellor and French President Francois Hollande on the sidelines of a summit on immigration in Brussels.
A closely watched survey of optimism among German businesses shows that confidence grew for a sixth straight month in Europe's biggest economy. The Ifo institute said Friday that its monthly confidence ...
Amazon has built its reputation by becoming an e-commerce giant, but a top exec says 10 years from now it'll be all about Amazon Web Services.
Greece sought to downplay the scale of its differences with its bailout creditors as the eurozone's top official said Friday that time is running out for the country to secure a deal that will prevent ...
Asia markets zigzagged on Friday as traders parsed through a deluge of earnings from U.S. corporate heavyweights.
David Sherman, founding manager & principal at Cohanzick Management, says the tech-heavy index is "healthier and reflective of more quality businesses" these days.
Jim Cramer is salivating over this stock and how easy it is to own in the current market environment. Time to cut a slice for your portfolio?