Yahoo Small Business Advisor Partner: Reuters

Small business confidence hits one-year high in May

Tue, 11 Jun 2013 07:33:01 -0400

WASHINGTON (Reuters) - Small business optimism rose to a one year-high in May, a hopeful sign for an economy that has hit a soft patch. The National Federation of Independent Business said on Tuesday its Small Business Optimism Index increased 2.3 points to 94.4 last month, the highest level since May last year. It was the second straight month of gains in the index. Eight of the index's 10 components advanced, but capital spending plans were unchanged and job creation plans dipped. ...

IRS officials try to tame conference spending scandal

Thu, 06 Jun 2013 14:20:24 -0400

By Kim Dixon and Patrick Temple-West WASHINGTON (Reuters) - Internal Revenue Service officials on Thursday tried to tame another scandal plaguing the agency, apologizing to lawmakers for a lavish 2010 conference in California that included an elaborate Star Trek spoof training video. "After I saw the production, I fully regretted it," said Faris Fink, the IRS small business commissioner who played the character Spock in the Star Trek parody that included a tax-themed skit. "It's embarrassing. ...

After pigeons, 'chicks' battle French entrepreneur rules

Fri, 31 May 2013 08:40:41 -0400

By Catherine Bremer PARIS (Reuters) - Seven months after a pressure group called "The Pigeons" forced the French government to scrap tax rises on entrepreneurs, a new movement called "The Chicks" is challenging plans to curb other advantages for the self-employed. The group, "Les Poussins" in French and backed by more than 20,000 online supporters in a matter of days, is up in arms over a Socialist government proposal to reduce to two years the time that self-employed people can claim the advantageous status of "auto-entrepreneur". ...

Canadian commercial lending rises in first quarter: PayNet

Wed, 29 May 2013 13:50:18 -0400

By John Tilak TORONTO (Reuters) - Commercial borrowing by small and medium-sized businesses in Canada climbed in the first quarter, driven by robust domestic and global demand, a PayNet survey showed on Wednesday. PayNet, which tracks commercial financing for millions of North American small and medium-sized businesses, said its Canadian Business Lending Index rose to 194, the highest level since it was created in 2005. The index rose 4 percent in the first quarter from the fourth quarter and was up 29 percent year-over-year. ...

OECD cuts Russia, CEE growth outlook but sees pick-up coming

Wed, 29 May 2013 05:22:55 -0400

PARIS (Reuters) - The OECD further cut its growth outlook for most of central and eastern Europe and Russia on Wednesday but said a moderate turnaround in the economies was on the way thanks to expected improvement in the euro zone. The club of the world's most developed countries said inflation in Russia has probably peaked and would return to the central bank's target range. It called on Russia to set a longer-term inflation target to help anchor inflationary expectations and bring down long-term interest rates. ...

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. ...

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.