Yahoo Small Business Advisor Partner: Reuters

Wal-Mart U.S. sales weak; outlook below analysts' forecast

Thu, 16 May 2013 14:48:26 -0400

By Jessica Wohl (Reuters) - Wal-Mart Stores Inc posted weaker-than-expected quarterly earnings on Thursday due to poor U.S. sales and said its profit for this quarter might also miss Wall Street's forecast. Everything from pressure on shoppers to a cool start to spring led to an unexpected 1.4 percent drop in sales at Walmart U.S. stores open at least a year. (Graphic on Wal-Mart earnings http://link.reuters.com/qan28t) Consumers with lower incomes have been especially squeezed by higher payroll taxes, consistently elevated gas prices and a shaky employment recovery. ...

Small business optimism rises to six-month high

Tue, 14 May 2013 07:56:30 -0400

WASHINGTON (Reuters) - A gauge of confidence for small businesses rose in April to its highest in six months, a sign of resilience in an economy beset by Washington's austerity drive. The National Federation of Independent Business said on Tuesday its Small Business Optimism Index rose 2.6 points to 92.1, the highest reading since October. About half the gain was because businesses expect better business conditions over the next six months. Firms also were more optimistic about creating jobs and about sales. ...

ECB's Draghi says no call for G7 central banks to do more

Sat, 11 May 2013 09:02:26 -0400

By David Milliken AYLESBURY, England (Reuters) - Major central banks did not face calls to do more to boost the world economy when Group of Seven finance officials met on Saturday, European Central Bank President Mario Draghi said. Before the meeting Britain's finance minister, George Osborne, said ministers would "consider what more monetary activism can do to support the recovery" - something that he is keen for the Bank of England to do. But Draghi said the ECB, which cut interest rates to a record low last week, did not come under pressure to take further steps. ...

Nasdaq says small firms should be able to trade on single venue

Wed, 01 May 2013 13:42:20 -0400

By John McCrank NEW YORK (Reuters) - Exchange operator Nasdaq OMX Group wants small and emerging companies listing shares on the public markets to be allowed to choose to be traded only on the venue where they are listed so buyers and sellers have an easier time connecting. Nasdaq CEO Robert Greifeld plans to ask the Securities and Exchange Commission to consider a "liquidity concentration program" at a SEC committee meeting on Wednesday, according to a copy of the presentation obtained by Reuters. ...

Small businesses cut borrowing for fourth month in a row

Wed, 01 May 2013 05:00:56 -0400

(Reuters) - Small U.S. businesses cut back on borrowing a fourth straight month in March, all but reversing a short-lived surge after the Federal Reserve launched its asset-buying program aimed at boosting growth and jobs. The Thomson Reuters/PayNet Small Business Lending Index, which measures the overall volume of financing to small U.S. companies, fell to 98.5 from an upwardly revised 105.4 in February, PayNet said on Wednesday. PayNet had initially reported the February figure at 101.3. ...

U.S. sales of trucks, SUVs outpace auto market in April

Mon, 29 Apr 2013 19:44:40 -0400

By Deepa Seetharaman DETROIT (Reuters) - A stronger U.S. housing market and lower fuel prices boosted sales of full-size pickup trucks and compact sport-utility vehicles in April, helping the U.S. auto market maintain its strong sales pace for a sixth straight month, analysts said. Gas prices have been steadily declining since February. The average price of a gallon of regular gasoline in April was down 8 percent from the same month in 2012. Meanwhile, housing has emerged as a bright spot in the U.S. economy. ...

Insight: Failure of Spain's Pescanova lifts lid on culture of secrecy

Fri, 26 Apr 2013 02:23:55 -0400

By Tracy Rucinski and Carlos Ruano VIGO, Spain (Reuters) - Even in a record year for Spanish bankruptcies, the filing by Pescanova, a household local name that farms, catches and processes fish, stands out not just for scale, but for the opaque culture and boardroom dysfunction it has revealed. The April 15 insolvency filing mentions debts of 1.5 billion euros ($2 billion), but financial sources who have had dealings with the company say total debt is probably more than double that amount, potentially making it the country's third-largest bankruptcy. ...

Exclusive: Mexico bank reform would ease legal hurdles to boost credit

Mon, 22 Apr 2013 09:57:28 -0400

By Alexandra Alper MEXICO CITY (Reuters) - Mexico's government wants to boost lending by making it easier for banks to collect on guarantees for bad loans and by giving regulators new powers to punish firms that do not lend enough, according to a draft of a new banking reform. The proposal, a copy of which was seen by Reuters, is due to be announced next week and is part of a raft of measures designed to ramp up growth in Latin America's second largest economy. ...

Factbox: Key points to Mexico's planned banking reform

Sun, 21 Apr 2013 19:02:27 -0400

By Alexandra Alper and Michael O'Boyle (Reuters) - Mexico's government wants to boost lending by making it easier for banks to collect on guarantees for bad loans and by giving powers to regulators to punish firms that do not lend enough, according to a draft copy of the banking reforms seen by Reuters. The proposal, which comprises more than 800 pages and touches on everything from money laundering to Basel capital standards, is due to be announced next week as part of a raft of measures designed to ramp up growth in Latin America's second biggest economy. ...

Italy to pay 40 billion euros of state debt to companies

Sat, 06 Apr 2013 14:34:58 -0400

By Catherine Hornby and Giuseppe Fonte ROME (Reuters) - Italy's caretaker government said on Saturday it would pay 40 billion euros ($52 billion) that the state owes to private companies over the next 12 months, while vowing to stick within the European Union's deficit limit. The cabinet approved a decree intended to provide funds to cash-strapped firms and help tackle a deep recession in the euro zone's third-largest economy. But some industry groups said it would be difficult for businesses to claim their money despite the measures. ...

Retirement rollovers can be misleading, confusing: watchdog

Wed, 03 Apr 2013 13:41:50 -0400

(Reuters) - Workers encounter confusion and misleading information when they leave their jobs and roll over their retirement money into individual retirement accounts, or IRAs, from company-sponsored 401(k) plans, according to a report released on Wednesday by the Government Accountability Office. The government watchdog did not name any of the firms where it found misleading practices. Almost all U.S. ...

Goldman Sachs ventures west for annual meeting in Salt Lake City

Wed, 13 Mar 2013 14:09:27 -0400

By Lauren Tara LaCapra NEW YORK (Reuters) - Goldman Sachs Group Inc said it will hold its annual meeting in Salt Lake City this year, the first time the Wall Street bank is inviting shareholders to cast their votes at a gathering outside the New York metropolitan area. "We're delighted to hold our annual shareholder meeting in what has become our second-largest office in the U.S.," Chief Executive Lloyd Blankfein said in a statement provided to Reuters. Goldman's Utah operation is one of its largest, with 1,500 employees. ...

Small business confidence, capital spending plans rise

Tue, 12 Mar 2013 08:10:50 -0400

WASHINGTON (Reuters) - Confidence among small businesses rose in February as owners shrugged off a tightening in fiscal policy and raised plans to increase capital spending and restock their warehouses. The National Federation of Independent Business said on Tuesday its optimism index increased 1.9 percentage points to 90.8 last month, continuing to recover from a 2-1/2 year plunge in November. The improvement in sentiment came even as small businesses braced for about $85 billion in across the board government spending cuts that started to take hold on March 1. ...

February auto sales up as consumers show "nerves of steel"

Fri, 01 Mar 2013 16:47:13 -0500

DETROIT (Reuters) - Auto sales rose nearly 4 percent in February, delivering a better-than-expected performance as strength in the housing market tempered worries over the wave of federal spending cuts due to begin on Friday. The annual auto sales pace for February was 15.38 million vehicles, according to Autodata, better than the 15.1 million rate expected by economists polled by Thomson Reuters. ...

Bank of America tries to burnish tarnished image with ads

Tue, 11 Oct 2011 18:41:08 -0400

(Reuters) - Bank of America Corp, under fire for everything from improper foreclosures to hiking debit card fees, is fighting back with advertising.