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Reuters: Business News
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Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals.
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Oil rises above $119 on storm fears
TOKYO (Reuters) - Oil rose for a fourth straight day to above $119 a barrel on Thursday, on fears Tropical Storm Gustav may hit the Gulf of Mexico after it morphs into a major hurricane, crippling the heart of U.S. offshore production.
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Toyota cuts sales forecast as demand sputters
TOKYO (Reuters) - Toyota Motor Corp, the world's most profitable carmaker, cut its 2009 vehicle sales forecast by nearly 7 percent due to a severe downturn in Western markets driven by high fuel prices and a credit crunch.
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GM to put $200 million in India engine plant
MUMBAI (Reuters) - General Motors Corp on Thursday
said it would invest more than $200 million initially in a
powertrain plant in India, as the troubled carmaker aims to
double its share of a fast-growing but increasingly competitive
market.
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American Media may refinance $570 million debt: report
(Reuters) - Struggling tabloid publisher American Media Inc has secured the backing of many of its creditors for a new bond offering to refinance $570 million in existing debt, the Wall Street Journal said.
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Caterpillar sees strong China sales enduring
BEIJING (Reuters) - Caterpillar Inc expects weakness in rich-country economies to persist into 2009 but its sales in China will remain strong, Jim Owens, chairman and chief executive of the U.S. construction and mining equipment firm, said on Thursday.
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Esprit shares plummet on growth worries
HONG KONG (Reuters) - Shares in Esprit Holdings, the world's No. 5 fashion retailer, plunged nearly a fifth on Thursday to their lowest in two years after the firm missed earnings forecasts and warned investors of tougher times ahead.
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CFTC inspector starts probe into oil report: paper
(Reuters) - The Inspector General for the U.S. commodity-futures regulator has officially begun an investigation into an inter-agency report on commodity markets, the Wall Street Journal said citing a person close to the matter.
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Starbucks top brass to receive no raise next year
NEW YORK (Reuters) - Top executives at Starbucks Corp including Chairman and Chief Executive Howard Schultz will not be getting raises anytime soon, after the coffee chain's first-ever quarterly loss as a public company.
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Ricoh shares up on Ikon acquisition, Canon slides
TOKYO (Reuters) - Shares of copier and printer maker Ricoh Co Ltd jumped nearly 4 percent on its $1.6 billion acquisition of U.S. distributor Ikon Office Solutions , while rival Canon Inc slid to a four-month low on concerns the deal would hurt its business.
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Strong data, financials drive stocks higher
NEW YORK (Reuters) - Stocks rose on Wednesday as surprisingly strong data on durable goods orders soothed some concern about the sluggish economy while Fannie Mae and Freddie Mac led a rally in financial shares.
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