China Rongsheng ghost town reflects shipbuilder’s struggle to survive
RUGAO, China/SINGAPORE (Reuters) – Deserted flats and boarded-up shops in the Yangtze river town of Changqingcun serve as a blunt reminder of the area’s reliance on China Rongsheng Heavy Industries Group , the country’s biggest private shipbuilder.
As rivals fade, Goldman stands firm on commodities
NEW YORK/LONDON (Reuters) – Just over three decades ago, Goldman Sachs bought a niche coffee-and-gold trading firm called J. Aron & Company, becoming one of the first banks to enter the commodity markets.
Barnes & Noble shares fall as SEC probes restatement
(Reuters) – Shares of Barnes & Noble Inc fell as much as 11 percent on Friday, a day after the U.S. Securities and Exchange Commission told the bookseller it had begun an investigation into a restatement of earnings announced on July 29.
Apple spent over $60 million on U.S. lawyers against Samsung
SAN FRANCISCO (Reuters) – Apple Inc has paid its leading outside law firm approximately $60 million to wage patent litigation against Samsung Electronics Co Ltd in a California federal court, according to Apple legal documents filed late on Thursday.
WTO on brink of historic trade reform, India hails victory
NUSA DUA, Indonesia (Reuters) – Ministers appeared close to sealing the world’s biggest trade reform for two decades early on Saturday after India, the most vocal holdout, endorsed a draft text presented by the head of the World Trade Organization.
Allianz says business model is interest rate-proof: CEO in paper
FRANKFURT (Reuters) – Allianz , Europe’s biggest insurer, is confident its business model can withstand prolonged periods of low interest rates, the company’s chief executive was quoted saying by a German newspaper.
Analysis: Deep discounts sound warning for U.S. retail profits
NEW YORK (Reuters) – Consumers have feasted on discounts this holiday season, but it means thinner profit margins for retailers from Wal-Mart Stores Inc to Neiman Marcus, and car makers, a red flag for investors who have ridden a sector rally all year….
Consumer sentiment jumps in Dec on improved economic outlook
NEW YORK (Reuters) – U.S. consumer sentiment surged in December as Americans’ outlook on the economy and job prospects improved, a survey released on Friday showed.
Special Report: How Fed policy enriches private equity, if not workers
MACON, Georgia (Reuters) – Sanders Walker had been working for 13 years at a BWAY Corp factory in Macon, Georgia, when the word came down one September 2011 morning: The company, a maker of plastic and metal containers, was closing the plant. Walker, a…
Consumer spending rises, but inflation muted
WASHINGTON (Reuters) – U.S. consumer spending rose in October, but still benign inflation pressures offered a cautionary note for the Federal Reserve as it weighs the future of its bond-buying program.
