Best Buy warns of profit hit as it consolidates Canadian stores
CHICAGO (Reuters) – Best Buy Co Inc plans to close some stores and consolidate its operations in Canada, the U.S. electronics retailer’s second-largest market, in a move that will hurt earnings this year, the company said on Saturday.
President Xi says China should not focus on growth rate only
BOAO, China (Reuters) – Chinese President Xi Jinping said on Saturday that the country should not focus on its economic growth rate only, reiterating China’s push for a more sustainable, higher-quality expansion.
Chevron exits Caltex Australia stake for $3.7 billion
PERTH (Reuters) – U.S. energy giant Chevron sold its entire stake in refiner Caltex Australia Ltd for A$4.7 billion ($3.7 billion) in Asia’s biggest block deal this year, as falling oil prices and high costs hurt margins.
Stocks likely to drift as investors await Fed, earnings
NEW YORK (Reuters) – Wall Street investors may find little reason to make big moves next week as they await monthly U.S. jobs data and any news that could change expectations for the first interest rate hike in almost a decade.
Wall St. ends four-day skid on late tech rally
NEW YORK (Reuters) – U.S. stocks rose modestly on Friday after late news of merger talks in the semiconductor space boosted the technology sector and helped major indexes snap a four-day losing streak.
Brazil police arrest Grupo Galvão CEO in Petrobras probe
SAO PAULO (Reuters) – Brazilian police on Friday arrested the CEO of Grupo Galvão, the latest executive seized in a corruption probe focused on state-run oil firm Petroleo Brasileiro SA.
Intel in talks to buy Altera, shares of firms surge
(Reuters) – Intel Corp is in talks to buy fellow chipmaker Altera Corp in a deal likely to top $10 billion, according to a source familiar with the matter, making it Intel’s biggest purchase ever and the latest merger in the quickly consolidating semic…
Yahoo, Microsoft extend search partnership talks for 30 days
SAN FRANCISCO (Reuters) – Yahoo Inc and Microsoft Corp agreed to extend by 30 days the deadline to re-negotiate a ten year search deal, as the two Internet companies attempt to revamp a thorny partnership crafted by former chief executives.
Fed’s Yellen sees gradual rate hikes starting this year
SAN FRANCISCO/WASHINGTON (Reuters) – Federal Reserve Chair Janet Yellen signaled that the U.S. central bank will likely start raising borrowing costs later this year, even before inflation and wages have returned to health, but emphasized the return to…
U.S. economic growth slows in fourth quarter; corporate profits fall
WASHINGTON (Reuters) – U.S. economic growth cooled in the fourth quarter as previously reported and after-tax corporate profits took a hit from a strong dollar, which could undermine future business spending.
