EBay restates quarterly profit to reflect lower income tax
(Reuters) – EBay Inc raised its reported fourth-quarter net income by $87 million to reflect a reduction in income tax expense.
Rise in Swiss forex reserves suggests SNB still curbing franc
ZURICH (Reuters) – Switzerland’s foreign exchange reserves hit a record high in January, data showed, suggesting its central bank is still actively curbing the franc with interventions one researcher estimated at close to 2 billion francs per day.
Siemens to cut two percent of workforce in restructuring
FRANKFURT (Reuters) – German industrial group Siemens plans to cut 7,800 jobs worldwide, or about 2 percent of its workforce, to complete a wide-ranging restructuring of the company, it said on Friday.
Low oil prices have yet to rattle North Dakota small businesses
WILLISTON, N.D. (Reuters) – Even as plunging crude oil prices fuel anxiety in North Dakota, small business owners in the No. 2 U.S. oil producing state say they are confident that demand for their products and services will remain strong enough to keep…
Mercedes has record January car sales as core markets jump
BERLIN (Reuters) – German luxury carmaker Mercedes-Benz said on Friday sales jumped 14 percent in January to a record 125,865 models, powered by double-digit gains in Europe, China and the United States.
Hyundai Motor buys back $422 million of shares
SEOUL (Reuters) – South Korean carmaker Hyundai Motor Co said on Friday it bought back 460 billion won ($422.4 million) worth of its own shares as part of its efforts to enhance shareholder value.
Japan automakers hit production snags as U.S. port dispute drags on
TOKYO (Reuters) – Japanese automakers are being forced to ship some car parts to U.S. plants by expensive air cargo and tweak production processes as a protracted labor dispute at U.S. West Coast ports shows no signs of letting up.
As investors move to passive funds, stockpickers get creative
NEW YORK (Reuters) – Undaunted by the popularity and outperformance of index-tracking investments, mutual fund companies last year rolled out 193 new actively managed stock funds, many with some highly colorful concepts.
Pfizer to buy Hospira for $15 billion to bolster hospital products
By Caroline Humer, Ransdell Pierson, Vidya L Nathan and Natalie Grover
Union rejects sixth refinery offer from Shell; talks next week
HOUSTON (Reuters) – Union leaders rejected a sixth contract offer Royal Dutch Shell Plc made to U.S. refinery workers, and a pause in negotiations was called Thursday on the fifth day of a strike, though talks are set to resume next week.
