- 16Nov
(Reuters) - Wal-Mart Stores Inc (WMT.N) posted a higher quarterly profit and raised its full-year earnings forecast, but U.S. same-store sales declined as its shoppers remain under pressure in a weak economy. The world's largest retailer has relied on cost cuts and international growth to buoy its profits. Sales at U.S. Wal-Mart stores open at least a year fell 1.3 percent, the sixth consecutive quarterly decline.
- 16Nov
(Reuters) - GM increased the size of its convertible preferred stock offering by $1 billion on Tuesday, strengthening the automaker's balance sheet as the U.S. government attempts to break even on its controversial investment. The new size of GM's Series B mandatory convertible junior preferred stock offering would be $4 billion, consisting of 80 million shares, the company said on Tuesday.
- 16Nov
(Reuters) - Ireland came under intense pressure on Tuesday to request aid over its debt crunch in what the European Council's president called a "survival crisis" for the euro zone and the wider European Union. Hours before a meeting of finance ministers of the 16-nation single currency area, Dublin was resisting calls to seek a state bailout and insisting that only its banks may need help.
- 16Nov
(Reuters) - Bank of America Corp (BAC.N) Chief Executive Brian Moynihan said on Tuesday a quick settlement of the 50-state attorneys general probe of the foreclosure crisis is the best solution for all involved. "It is in everyone's best interest to get this settled and behind us," said Moynihan, speaking at the Bank of America Merrill Lynch Financial Services conference in New York.
- 16Nov
(Reuters) - Home Depot Inc (HD.N) reported higher-than-expected quarterly earnings on tighter cost controls, prompting the world's largest home improvement chain to raise its profit outlook for the year. However, the company softened its full-year sales forecast as U.S. consumers continue to put off expensive renovations and open their wallets only for repairs and small remodeling projects.
- 16Nov
(Reuters) - British enginemaker Rolls-Royce has asked Airbus to return Trent 900 engines from A380 superjumbo production lines so they can be used to replace faulty ones on aircraft already in service. The Airbus A380 -- the world's largest passenger aircraft with an average list price of about $350 million -- has been hit by safety concerns after a Rolls-Royce engine partly disintegrated mid-flight, forcing a fully laden Qantas plane to make an emergency landing in Singapore on Nov 4.
- 16Nov
(Reuters) - U.S. industrial production was flat in October, Federal Reserve data showed on Tuesday, a weaker-than-expected showing that reflected a big drag from utilities. Economists polled by Reuters had expected a gain of 0.3 percent for October, after a decline of 0.2 percent in September.
- 16Nov
(Reuters) - China will unveil food price controls and crack down on speculation in agricultural commodities to contain inflationary pressure that its central bank governor highlighted as a risk on Tuesday. With consumer prices rising at their fastest pace in more than two years, the National Development and Reform Commission, the country's top planning agency, is preparing a "one-two punch" of actions to rein in food costs, official media reported.
- 16Nov
(Reuters) - Hana Financial Group (086790.KS) is in talks with private equity firm Lone Star to buy a $4.1 billion stake in Korea Exchange Bank (004940.KS), elbowing aside rival suitor Australia and New Zealand Banking Group (ANZ.AX). Hana, South Korea's fourth-largest financial services group by assets, confirmed it is in talks with U.S-based Lone Star LS.UL and said a decision will be made by next week on whether to buy the country's No.5 bank or merge with bigger rival Woori Finance Holdings (053000.KS).
- 15Nov
(Reuters) - Home improvement chain Lowe's Cos (LOW.N) shed light on its efforts to increase margins and market share amid sluggish sales growth, sending its shares higher. The company, which reported lower-than-expected quarterly sales and forecast a full-year profit below Wall Street estimates, said it had gained share from market leader Home Depot (HD.N) in some categories in the latest quarter.
