J.C. Penney expects higher sales, gross profit this year
(Reuters) – After two years of massive losses, J.C. Penney Co Inc appears to be turning a corner.
Tesla to raise $1.6 billion to build battery factory
(Reuters) – Tesla Motors Inc said on Wednesday it plans to raise $1.6 billion from investors to finance a new battery factory that will help the upstart U.S. automaker reach its goal of producing a lower-priced, mass-market electric car by 2017.
S&P 500 ends near flat; retailers fly for a second day
NEW YORK (Reuters) – Stocks finished flat on Wednesday with investors hesitant to make a big move on the day before comments from Federal Reserve Chair Janet Yellen, though retailers’ shares rallied on results for a second day.
Exxon Mobil CEO welcomes fracking, but not water tower in his backyard
DALLAS (Reuters) – It’s not every day that the chief executive of the largest U.S. energy company joins a lawsuit opposing a new water tower planned in his neighborhood that could support fracking.
U.S. senators scold prosecutors, Swiss bank in tax spat
WASHINGTON (Reuters) – U.S. senators lashed out at federal prosecutors on Wednesday for a lack of zeal in going after Swiss banks that helped Americans dodge taxes, blaming both sides for billions of dollars in missed revenues.
HSBC taps ex-Homeland Security agent for anti money-laundering role
St. Louis (Reuters) – HSBC Holdings has named a former agent of the Department of Homeland Security and expert on high-risk clients to head a U.S. anti-money laundering operation being revamped after the bank paid a record fine over compliance lapses.
Attorney subpoenaed Mt. Gox, other bitcoin businesses: source
NEW YORK (Reuters) – Manhattan Attorney Preet Bharara has sent subpoenas to Mt. Gox, other bitcoin exchanges, and businesses that deal in bitcoin to seek information on how they handled recent cyber attacks, a source familiar with the probe said on Wed…
Argentina hopes Repsol deal will dispel investor doubts
BUENOS AIRES (Reuters) – Two years after seizing the country’s biggest energy company from Spain’s Repsol, Argentina hopes a new compensation deal will lure more foreign investment to what many believe to be some of the world’s most promising shale oil…
Exclusive: Biomet picks BAML, Goldman, JPMorgan to lead IPO – sources
NEW YORK (Reuters) – Biomet Inc, the U.S. medical device maker that was taken private by a private equity consortium for $11.4 billion in 2007, has hired underwriters for an initial public offering later this year, people familiar with the matter said …
Facebook says makes progress targeting users
(Reuters) – Facebook highlighted on Wednesday two ad campaigns in an attempt to persuade advertisers that its massive membership base and ability to home in on specific audiences makes it a more effective advertising platform than broadcast TV.
