Dolce and Gabbana sentenced to jail for tax evasionBy Manuela D'Alessandro MILAN (Reuters) - Fashion design duo Domenico Dolce and Stefano Gabbana were on Wednesday handed a suspended prison sentence of one year and eight months for hiding hundreds of … More »Dolce and Gabbana sentenced to jail for tax evasion
By Manuela D'Alessandro MILAN (Reuters) - Fashion design duo Domenico Dolce and Stefano Gabbana were on Wednesday handed a suspended prison sentence of one year and eight months for hiding hundreds of millions of euros from the tax authorities. The designers, who are nearly as famous as the stars they dress, were not present …
Mortgage applications tumble as rates rise further: MBANEW YORK (Reuters) - Interest rates on home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on Wednesday. … More »Mortgage applications tumble as rates rise further: MBA
NEW YORK (Reuters) - Interest rates on home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on Wednesday. Rates climbed 2 basis points to average 4.17 in the week ended June 14, according to the Mortgage Bankers Association. …
Orders top $100 billion as Ryanair gives Boeing a boostBy Alwyn Scott and Maria Sheahan PARIS (Reuters) - Orders at the Paris Airshow surpassed $100 billion on Wednesday, as planemakers Boeing and Airbus cashed in on demand for fuel-efficient jets and growth … More »Orders top $100 billion as Ryanair gives Boeing a boost
By Alwyn Scott and Maria Sheahan PARIS (Reuters) - Orders at the Paris Airshow surpassed $100 billion on Wednesday, as planemakers Boeing and Airbus cashed in on demand for fuel-efficient jets and growth in both budget carriers and emerging markets. Ryanair, Europe's biggest low-cost airline, finalized an order for 175 …
U.S. arms companies see rising foreign demandBy Andrea Shalal-Esa PARIS (Reuters) - U.S. arms makers see rising foreign demand for fighter jets, missile defense systems and other weapons as countries modernize their forces and U.S. officials, facing … More »U.S. arms companies see rising foreign demand
By Andrea Shalal-Esa PARIS (Reuters) - U.S. arms makers see rising foreign demand for fighter jets, missile defense systems and other weapons as countries modernize their forces and U.S. officials, facing tighter budgets, encourage allies to invest more in intelligence gathering and aerial refueling equipment. U.S. Air …
Adobe profit beats as Creative Cloud subscriptions soarBy Sruthi Ramakrishnan (Reuters) - Adobe Systems Inc, which makes the Photoshop and Acrobat software, reported a higher-than-expected adjusted quarterly profit as demand rose for Creative Cloud, the subscription-based … More »Adobe profit beats as Creative Cloud subscriptions soar
By Sruthi Ramakrishnan (Reuters) - Adobe Systems Inc, which makes the Photoshop and Acrobat software, reported a higher-than-expected adjusted quarterly profit as demand rose for Creative Cloud, the subscription-based version of its flagship software package. Shares of the company rose 4.4 percent in after-market trading. …
Wall St. dips after recent rally as Fed statement loomsBy Rodrigo Campos NEW YORK (Reuters) - Stocks dipped modestly at the open on Wednesday, but held on to most of their gains over the last two days, ahead of a highly anticipated Federal Reserve statement … More »Wall St. dips after recent rally as Fed statement looms
By Rodrigo Campos NEW YORK (Reuters) - Stocks dipped modestly at the open on Wednesday, but held on to most of their gains over the last two days, ahead of a highly anticipated Federal Reserve statement and news conference. The Fed will release a policy statement at 2:00 p.m. EDT, which will be followed soon after by a …
Softbank closer to acquiring Sprint after Dish abandons bid for nowBy Sophie Knight and Sinead Carew TOKYO/NEW YORK (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp … More »Softbank closer to acquiring Sprint after Dish abandons bid for now
By Sophie Knight and Sinead Carew TOKYO/NEW YORK (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week. SoftBank Chief Executive Masayoshi Son …
Fed seen keeping options open on pace of bond buyingBy Alister Bull WASHINGTON (Reuters) - Federal Reserve policymakers will likely announce on Wednesday that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open … More »Fed seen keeping options open on pace of bond buying
By Alister Bull WASHINGTON (Reuters) - Federal Reserve policymakers will likely announce on Wednesday that they will keep buying bonds at a monthly pace of $85 billion, while keeping their options open to scale back the program later this year if the U.S. labor market continues to improve. Economic data since the 19 officials …
Inflation data points to firming economyBy Jason Lange WASHINGTON (Reuters) - Inflation showed signs of stabilizing in May after a long decline, a potential comfort to Federal Reserve policymakers who want to avoid any chance of a debilitating … More »Inflation data points to firming economy
By Jason Lange WASHINGTON (Reuters) - Inflation showed signs of stabilizing in May after a long decline, a potential comfort to Federal Reserve policymakers who want to avoid any chance of a debilitating bout of deflation. The Labor Department said on Tuesday the consumer price index edged 0.1 percent higher last month …
Google challenges surveillance court on First Amendment groundsSEATTLE (Reuters) - Google Inc asked the U.S. Foreign Intelligence Surveillance Court on Tuesday to allow it to publish aggregate numbers of national security requests it receives separately from criminal … More »Google challenges surveillance court on First Amendment grounds
SEATTLE (Reuters) - Google Inc asked the U.S. Foreign Intelligence Surveillance Court on Tuesday to allow it to publish aggregate numbers of national security requests it receives separately from criminal requests, on First Amendment grounds. In its filing, Google requested the court to allow it to publish the aggregate …
Britain says reckless bankers could face jailBy Matt Scuffham LONDON (Reuters) - Bankers who are reckless with customers' or taxpayers' money could face criminal charges and have bonuses and pensions clawed back, according to proposals backed by … More »Britain says reckless bankers could face jail
By Matt Scuffham LONDON (Reuters) - Bankers who are reckless with customers' or taxpayers' money could face criminal charges and have bonuses and pensions clawed back, according to proposals backed by Britain's prime minister on Wednesday. Many Britons blame bankers' risk-taking for the 2008 financial crisis and subsequent …
FedEx posts higher-than expected profit, will cut more capacityBy Nivedita Bhattacharjee (Reuters) - FedEx Corp reported a higher-than-expected quarterly profit on Wednesday, sending its shares higher, but the world's biggest air-freight company said it was cutting … More »FedEx posts higher-than expected profit, will cut more capacity
By Nivedita Bhattacharjee (Reuters) - FedEx Corp reported a higher-than-expected quarterly profit on Wednesday, sending its shares higher, but the world's biggest air-freight company said it was cutting more capacity between the United States and Asia. The company, considered an economic bellwether because of the massive …
Exclusive: Facebook reaches 1 million active advertisersBy Jennifer Saba (Reuters) - Facebook Inc said on Tuesday it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive … More »Exclusive: Facebook reaches 1 million active advertisers
By Jennifer Saba (Reuters) - Facebook Inc said on Tuesday it now has 1 million active advertisers globally who used the platform in the last 28 days, a milestone for the company that is seeking to revive its revenue growth. A vast majority of those advertisers are small business owners who have flocked to the world's No. …
World Bank watching Fed, ready to respondBy Paul Ingrassia and Mike Peacock LONDON (Reuters) - The World Bank is concerned about the spillover effects on developing countries of a slowing of U.S. money creation and will move to provide affordable … More »World Bank watching Fed, ready to respond
By Paul Ingrassia and Mike Peacock LONDON (Reuters) - The World Bank is concerned about the spillover effects on developing countries of a slowing of U.S. money creation and will move to provide affordable capital when borrowing costs rise, its president said on Wednesday. The U.S. Federal Reserve has sparked a bout of …
Wall St. extends rise, investors see no change in Fed policyBy Ryan Vlastelica NEW YORK (Reuters) - Stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements which were interpreted to mean a sooner-than-expected … More »Wall St. extends rise, investors see no change in Fed policy
By Ryan Vlastelica NEW YORK (Reuters) - Stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements which were interpreted to mean a sooner-than-expected winding down of stimulus efforts. Strong market breadth showed an increased appetite for equities, but trading volume …
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