Reuters: Business News

Euro zone debt worries sink Dow below 10,000

Mon, 08 Feb 2010 20:09:29 -0500

NEW YORK (Reuters) - The Dow industrials closed below 10,000 for the first time since November on Monday as investors sold bank shares due to heightened concerns about the euro zone's sovereign debt troubles.

Toyota readies Prius steps; U.S. production restarts

Mon, 08 Feb 2010 20:34:25 -0500

TOKYO/DETROIT (Reuters) - Toyota Motor Corp was preparing a global recall of its new Prius model on Monday, further damaging its reputation for quality and reliability on the heels of two other massive recalls.

CIT sets John Thain's salary at $6 million a year

Mon, 08 Feb 2010 18:02:54 -0500

NEW YORK (Reuters) - CIT Group Inc said its new Chief Executive John Thain will get an annual base salary of $6 million, most of which is in stock, and a bonus of up to another $1.5 million, in a nod to compensation practices popularized by the Obama administration's pay czar.

Macquarie cautious on outlook; shares down 6 percent

Mon, 08 Feb 2010 19:52:27 -0500

SYDNEY (Reuters) - Macquarie Group , Australia's top investment bank, spooked investors on Tuesday with a lukewarm outlook, warning them about weakening markets and sending its shares down 6 percent.

Fed's Dudley: Financial reform needs global scope

Mon, 08 Feb 2010 19:22:10 -0500

WASHINGTON (Reuters) - A revamp of the financial system needs to be global in nature to prevent a repeat of the worst financial crisis in some 70 years, a top Federal Reserve policy maker said on Monday.

JAL to stay with American, end Delta talks: source

Mon, 08 Feb 2010 20:03:23 -0500

TOKYO (Reuters) - Japan Airlines Corp has decided to maintain its partnership with American Airlines in the Oneworld alliance and end talks with Delta Air Lines, a source with knowledge of the matter said.

Ex-Intel exec admits conspiring with Rajaratnam

Mon, 08 Feb 2010 17:02:56 -0500

NEW YORK (Reuters) - A former Intel Capital director pleaded guilty on Monday to fraud in the Galleon insider trading case, telling a New York court that hedge fund founder Raj Rajaratnam gave him money for personal needs and that he profited from illegal trades.

Boeing's new 747 takes flight near Seattle

Mon, 08 Feb 2010 19:38:41 -0500

CHICAGO (Reuters) - Boeing Co flew its twice-delayed 747-8 Freighter for the first time on Monday, a significant milestone in the history of the legendary 747 family and a step that could bolster the credibility of the world's second-largest plane maker.

Electronic Arts outlook disappoints, shares decline

Mon, 08 Feb 2010 20:06:17 -0500

SAN FRANCISCO (Reuters) - Electronic Arts Inc warned that fiscal 2011 earnings would miss Wall Street expectations as it grapples with a lack of blockbuster new games after a succession of missed targets and restructurings.

Fed's Bullard: May see asset sales late 2010

Mon, 08 Feb 2010 17:13:44 -0500

WASHINGTON (Reuters) - The Federal Reserve could sell some assets later this year in an effort to whittle down its bloated balance sheet to avoid inflation, a senior Federal Reserve official said on Monday.