Category Archives: business
Geithner: U.S. can withstand any Europe stresses
NEWS.GNOM.ES – WASHINGTON (NEWS.GNOM.ES) – U.S. Treasury Secretary Timothy Geithner said on Friday that if Europe mismanages its crisis it could slow U.S. growth but said the U.S. Continue reading
In battle of the S&P, can bulls gain the edge?
By Angela Moon and Rodrigo Campos | NEWS.GNOM.ES – NEW YORK (NEWS.GNOM.ES) – It will be another battleground for S&P 500 index next week. Will the bears finally give up and let the bulls have their way? The S&P 500, the market’s broadest measure, managed to close out the week above the psychologically important 1,400 mark for the first time since early April Continue reading
Big isn’t bad, banks tell Fed
By Dave Clarke | NEWS.GNOM.ES – WASHINGTON (NEWS.GNOM.ES) – The largest U.S. banks are accusing the Federal Reserve of attempting to misuse its new regulatory powers to shrink financial giants under the misguided belief that “big is bad.” Lobbying groups representing the big banks are pushing back against a set of proposed rules the Fed issued in December to more closely scrutinize the firms and rein in their risk taking after the 2007-2009 financial crisis. In a letter sent Friday, the groups said the Fed is going too far and is proposing a set of policies on credit exposure and capital standards that go against the intent of the 2010 Dodd-Frank financial oversight law. Continue reading
Apple courts EPIX for upcoming TV: sources
By Ronald Grover and Lisa Richwine | NEWS.GNOM.ES – LOS ANGELES (NEWS.GNOM.ES) – Apple Inc began talks earlier this year to stream films owned by EPIX , which is backed by three major movie studios, on devices including a long-anticipated TV, according to two people with knowledge of the negotiations. Apple, which now sells a $99 set-top box that hooks up to a television set and lets users stream online content from Netflix and the MLB channel, opened discussions with three-year-old EPIX , created by Lions Gate Entertainment Corp, MGM and Viacom’s Paramount Pictures Continue reading
Newmont may shift spending from costly Peru mine
By Steve James | NEWS.GNOM.ES – (NEWS.GNOM.ES) – Newmont Mining Corp will put its money into projects in other countries if environmental changes to its proposed $4.8 billion Conga gold mine in Peru prove economically unfeasible, the head of the U.S. company said on Friday. Continue reading
Rogue trader Kerviel accuses SocGen of forgery
By Lionel Laurent | NEWS.GNOM.ES – PARIS (NEWS.GNOM.ES) – Former Societe Generale trader Jerome Kerviel , who is appealing a three-year prison sentence for his role in France’s biggest rogue trading scandal, plans to sue his former employer for forgery and manipulation of evidence. Kerviel , who told journalists on Friday he had gone through “hell” since the revelation in 2008 that SocGen had lost 4.9 billion euros ($6.5 billion) unwinding his risky bets, said that audio recordings used as evidence at his 2010 trial had been tampered with Continue reading
Wal-Mart employee starts petition for CEO’s ouster
By Brad Dorfman | NEWS.GNOM.ES – (NEWS.GNOM.ES) – A deli manager at a Walmart store has started an online petition calling for the resignations of the retailer’s chairman and chief executive officer in the wake of allegations that top management squelched an internal probe into bribery allegations . Continue reading
Chevron profit rises 4 percent despite output decline
By Braden Reddall | NEWS.GNOM.ES – (NEWS.GNOM.ES) – Chevron Corp delivered a 4 percent rise in first-quarter profit on Friday, helped by an asset sale and increases in both oil prices and refining margins that made up for a decline in oil and gas production . Shares of the second-largest U.S. oil company were down a few pennies in midday trading at $106.19 Continue reading
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