Former Fed Chairman Bernanke takes stand in AIG bailout trial
WASHINGTON (Reuters) – Former Federal Reserve Chairman Ben Bernanke took the stand on Thursday to defend the U.S. government’s bailout of American International Group in 2008, describing how policymakers sought to avoid giving AIG shareholders a “windf…
Symantec to split into security and storage software companies
(Reuters) – Norton antivirus software maker Symantec Corp SYMC.O will split into two publicly traded companies, one focused on security and the other storage and backup, potentially making itself more attractive to suitors.
Wall Street sells off on growth concerns; volatility picks up
NEW YORK (Reuters) – The S&P 500 on Thursday posted its largest percentage decline in six months on concerns about the strength of the global economy and its effect on corporate earnings.
Apple given time to block info in GT bankruptcy case: ruling
(Reuters) – Apple Inc will have at least three days to review and potentially move to bar any information about its relationship with GT Advanced Technologies Inc that may arise during the latter’s bankruptcy hearings, the court said in a ruling on Thu…
Family Dollar fourth quarter profit drops, same store sales improve marginally
CHICAGO (Reuters) – Discount retailer Family Dollar Stores Inc , which is trying to ward off a hostile bid from rival Dollar General Corp , said its fourth-quarter profit slid 66 percent hurt by inventory markdowns, restructuring charges and merger fee…
Symantec to split into security and storage software companies
(Reuters) – Norton antivirus maker Symantec Corp will split into two publicly traded companies, one selling security software and the other providing data management, potentially making itself more attractive to suitors.
Exclusive: Venezuela to pay Exxon for nationalization from November – source
CARACAS (Reuters) – Venezuela considers a World Bank arbitration tribunal’s award “manageable” and will pay Exxon Mobil Corp for the 2007 nationalization of its oil projects from November, a source at state oil company PDVSA [PDVSA.UL] said on Thursday…
Sunny September sales unlikely to brighten retailers’ holiday prospects
(Reuters) – A resurgence in spending helped by an improving U.S. economy bolstered back to school season sales for retailers in September, but stagnant wages may force more discounting in the coming months, keeping pressure on margins.
Fed officials keep eyes on mid-2015 rate rise
LAS VEGAS (Reuters) – The Federal Reserve will probably start raising interest rates around the middle of next year, two top officials at the U.S. central bank said on Thursday, although both said the exact timing will depend on the economy.
Exclusive: Cadillac’s new boss maps out product blitz by 2020
DETROIT/PARIS (Reuters) – Cadillac’s new boss plans a blitz of new products by 2020, from a pure battery-electric car to an ultra-luxury sedan, that he hopes will help resurrect General Motors’ struggling premium brand and make it a global powerhouse.
