Martha Stewart, J.C. Penney revise partnership agreement in Macy’s dispute
NEW YORK (Reuters) – J.C. Penney Co Inc and Martha Stewart Living Omnimedia on Monday announced a revised agreement that eliminates Stewart’s products in home goods categories to which rival Macy’s Inc claims exclusive rights.
Petrobras-led group wins Brazil oil auction with minimum bid
RIO DE JANEIRO (Reuters) – Brazilian state-run energy company Petrobras teamed up with European oil majors and Chinese rivals on Monday to buy the country’s biggest-ever oil field with a lone bid at the minimum price, a disappointing outcome for a sale…
Starbucks under media fire in China for high prices
SHANGHAI (Reuters) – Starbucks Corp has been charging higher prices in China than other markets, helping the company realize fat profit margins, the official China Central Television (CCTV) said in a report.
Madoff employees lived high on corporate money, prosecutors say
NEW YORK (Reuters) – Members of Bernard Madoff’s inner circle indulged in expensive wine, cruises and jaunts to Las Vegas and St. Barts, all paid for by his investment firm, prosecutors said on Monday in a trial of five former long-time Madoff associat…
Former JPMorgan executive challenges UK’s London Whale report
LONDON (Reuters) – A former JPMorgan Chase & Co executive in Europe is appealing findings by Britain’s financial watchdog that criticized his actions in connection with the “London Whale” scandal.
Buffett’s Berkshire cuts Tesco stake by one-fifth -filing
(Reuters) – Billionaire Warren Buffett’s Berkshire Hathaway Inc last week slashed its stake in the world’s No.3 retailer, Tesco Plc , by about one-fifth, or 300 million pounds ($484.75 million), according to a stock market filing on Monday.
Wall Street nearly flat on lackluster earnings
NEW YORK (Reuters) – U.S. stocks ended little changed on Monday as lackluster earnings reports from McDonald’s and others fed concerns that equities were overpriced after the S&P index’s run to record highs last week.
BHP Q1 iron ore output up 23 percent, ups FY2014 target: 212 million per tonnes
SYDNEY (Reuters) – BHP Billiton , the world’s biggest mining company, posted a 23 percent rise in quarterly iron ore output and said copper and petroleum production also rose, part of a strategy to capture more of a slower-growing market for raw materi…
Hyundai Motor goes conservative with redesigned Sonata, Genesis
SEOUL (Reuters) – Optimism over Hyundai Motor Co’s first major makeover of its key models in about five years may fizzle as some industry insiders question whether the redesigns are too conservative for international tastes.
RadioShack gets financing from GE Capital: source
NEW YORK (Reuters) – RadioShack has secured a fresh round of financing from GE Capital, a person familiar with the matter said on Monday.
