Italian designers Dolce and Gabbana convicted of tax evasionBy Manuela D'Alessandro MILAN (Reuters) - Fashion designers Domenico Dolce and Stefano Gabbana were handed a 20-month suspended prison sentence and a heavy fine on Wednesday for hiding hundreds of millions … More »Italian designers Dolce and Gabbana convicted of tax evasion
By Manuela D'Alessandro MILAN (Reuters) - Fashion designers Domenico Dolce and Stefano Gabbana were handed a 20-month suspended prison sentence and a heavy fine on Wednesday for hiding hundreds of millions of euros from the Italian tax authorities. The design duo, who are nearly as famous as the stars they dress, were not …
Switzerland buries U.S. tax law, banks seen at riskBy Ruben Sprich BERNE (Reuters) - Swiss lawmakers dealt a death blow on Wednesday to a draft law which aimed to protect the country's banks from criminal charges in the United States for helping wealthy … More »Switzerland buries U.S. tax law, banks seen at risk
By Ruben Sprich BERNE (Reuters) - Swiss lawmakers dealt a death blow on Wednesday to a draft law which aimed to protect the country's banks from criminal charges in the United States for helping wealthy Americans evade tax. The Swiss government has warned that the bill's failure could prompt impatient U.S. prosecutors to …
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 …
Wall St. falls after 'status quo' Fed statementBy Ryan Vlastelica NEW YORK (Reuters) - Stocks fell on Wednesday, with the losses accelerating even after the Federal Reserve said it would hold steady with its monetary policy. The central bank gave no … More »Wall St. falls after 'status quo' Fed statement
By Ryan Vlastelica NEW YORK (Reuters) - Stocks fell on Wednesday, with the losses accelerating even after the Federal Reserve said it would hold steady with its monetary policy. The central bank gave no explicit indication that it was close to pulling back on its program to buy $85 billion in bonds per month, a policy that …
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. …
Bank of Canada says business confidence crucial, urges patienceBy Euan Rocha and Peter Henderson BURLINGTON, Ontario (Reuters) - The Bank of Canada is relying on a rebound in businesses confidence to drive the economy's return to health, the central bank's new chief, … More »Bank of Canada says business confidence crucial, urges patience
By Euan Rocha and Peter Henderson BURLINGTON, Ontario (Reuters) - The Bank of Canada is relying on a rebound in businesses confidence to drive the economy's return to health, the central bank's new chief, Stephen Poloz, said on Wednesday in a speech that revealed no clear leanings on monetary policy. In his first speech …
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 keeps buying bonds at $85 billion monthly paceBy Alister Bull and Pedro da Costa WASHINGTON (Reuters) - The Federal Reserve on Wednesday said it would keep buying $85 billion in bonds per month and gave no explicit indication that it was close to … More »Fed keeps buying bonds at $85 billion monthly pace
By Alister Bull and Pedro da Costa WASHINGTON (Reuters) - The Federal Reserve on Wednesday said it would keep buying $85 billion in bonds per month and gave no explicit indication that it was close to scaling back the program, despite intense market speculation it could soon start drawing it to a close. Describing the economy …
Exclusive: Parmalat should cut LAG price by $151 million, report to court saysBy Valentina Accardo PARMA, Italy (Reuters) - A court-appointed commissioner has recommended Italian dairy group Parmalat cut the price it paid to its parent company Lactalis to acquire its North American … More »Exclusive: Parmalat should cut LAG price by $151 million, report to court says
By Valentina Accardo PARMA, Italy (Reuters) - A court-appointed commissioner has recommended Italian dairy group Parmalat cut the price it paid to its parent company Lactalis to acquire its North American cheesemaking division by $151 million, a move that will please minority shareholders. Parmalat , which is 83-percent …
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 …
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 …
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 …
U.S. judge limits ex-Goldman Sachs executive's defense in fraud caseBy Bernard Vaughan NEW YORK (Reuters) - A federal judge on Wednesday limited the extent to which former Goldman Sachs Group Inc vice president Fabrice Tourre can argue that he was acting on the advice … More »U.S. judge limits ex-Goldman Sachs executive's defense in fraud case
By Bernard Vaughan NEW YORK (Reuters) - A federal judge on Wednesday limited the extent to which former Goldman Sachs Group Inc vice president Fabrice Tourre can argue that he was acting on the advice of company lawyers in his defense against charges that he misled investors. The ruling could be another setback for Tourre …
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. …
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