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Archives for February, 2010


January retail sales move into positive territory

NEW YORK (Reuters) – January sales at top U.S. retail chains moved into positive territory from last year’s decline as many avoided drastic clearance sales and shoppers redeemed holiday gift cards.

http://www.reuters.com/

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Oil slips towards $76 as demand lags economic recovery

LONDON (Reuters) – Oil fell toward $76 a barrel on Thursday as rising crude inventories in the United States signaled a rebound in U.S. economic activity was failing to translate into higher demand.

http://www.reuters.com/

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Toyota’s $2 billion recall hit to keep it in the red

TOKYO/WASHINGTON (Reuters) – Toyota Motor Corp expects costs and lost sales from its massive safety recall to total $2 billion by the end of March, keeping it in the red for the year despite its strongest profit in six quarters.

http://www.reuters.com/

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Shell to slash downstream as Q4 profits collapse

LONDON (Reuters) – Royal Dutch Shell Plc said it planned even deeper cuts to its oil refining and retail operations after downstream weakness caused a 75 percent fall in fourth-quarter profits to $1.18 billion.

http://www.reuters.com/

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Stock futures fall on euro zone worries, data on tap

NEW YORK (Reuters) – U.S. stock index futures fell on Thursday as renewed worries over sovereign debt in some euro zone countries kept investors away from riskier investments, including equities, ahead of U.S. jobs and factory data.

http://www.reuters.com/

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Sony boosts outlook after first profit in 5 quarters

TOKYO (Reuters) – Sony Corp’s first profit in five quarters showed a restructuring at the electronics maker is starting to pay off as it halved its annual loss forecast on a rebound in its flat-TV business and cost cuts.

http://www.reuters.com/

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Locke says enforcement will help U.S. double exports

WASHINGTON (Reuters) – Tough enforcement of trade agreements will help the United States meet President Barack Obama’s goal of doubling exports during the next five years, Commerce Secretary Gary Locke said on Thursday.

http://www.reuters.com/

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Cisco trounces estimates, sees strong recovery

NEW YORK (Reuters) – Cisco Systems Inc’s quarterly results and outlook exceeded Wall Street expectations as more customers upgraded their networks to handle growing Internet traffic, leading CEO John Chambers to declare a very strong recovery.

http://www.reuters.com/

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Geithner says bank fee can recoup AIG bonuses

WASHINGTON (Reuters) – U.S. Treasury Secretary Timothy Geithner on Wednesday said insurer AIG’s contracts to pay hundreds of millions of dollars in bonuses were “outrageous” and appealed to Congress to help recoup payments.

http://www.reuters.com/

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Fed must be more open, guard independence: Bernanke

WASHINGTON (Reuters) – Federal Reserve Chairman Ben Bernanke on Wednesday said the Fed must be more transparent to the public but also guard its independence, which serves a vital public interest.

http://www.reuters.com/

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