- 29Oct
(Reuters) - Chevron Corp (CVX.N), the second-largest U.S. oil company, posted weaker-than-expected quarterly profit on Friday, hurt by lower production and higher expenses in the United States. Third-quarter net income fell to $3.77 billion, or $1.87 per share, from $3.83 billion, or 1.92 per share, a year before, when the company's earnings were boosted by asset sales.
- 29Oct
(Reuters) - Toyota secretly bought back from U.S. consumers vehicles it found with speed-control defects as part of a strategy to hide unintended-acceleration problems from safety regulators and the public, a revised lawsuit claims. The repurchase transactions included strict confidentiality agreements barring consumers from disclosing the problem to anyone and from suing the automaker, according to the amended class-action complaint.
- 29Oct
(Reuters) - The U.S. economy is a "fiscal train wreck" waiting to happen that risks ushering in a period of stagnation featuring by minimal growth, high unemployment and deflationary pressure, U.S. economist Nouriel Roubini wrote on Friday. In a commentary for the Financial Times, Roubini -- one of the first economists to predict the housing crash in the United States and known as 'Dr Doom' for his pessimistic forecasts -- said fiscal and monetary stimulus had prevented another depression.
- 29Oct
(Reuters) - AIA Group Ltd (1299.HK) surged 17 percent in its Hong Kong debut as investors, chasing exposure to Asia's fast-growing life insurance business, piled into the record offering in the world's hottest IPO market. The stronger-than-expected listing is a relief for bailed-out insurer American International Group Inc (AIG.N) after a two-year effort to sell its Asian unit, including a failed takeover attempt from British insurer Prudential plc (PRU.L).
- 29Oct
(Reuters) - The head of Nasdaq OMX Group Inc (NDAQ.O) said on Friday he does not expect any new obligations or privileges for U.S. "market-makers" until 2012 at the earliest, calling any regulatory change "a slippery slope." The U.S. Securities and Exchange Commission, reacting to the May "flash crash," has suggested it might be necessary to saddle some high-frequency trading firms with obligations to make markets and add liquidity during stressful times.
- 29Oct
(Reuters) - British Airways (BAY.L) and merger partner Iberia (IBLA.MC) expect further growth in 2011 after improved demand for premium-class travel and strict cost controls helped the pair return to profit. BA, whose merger with Spain's Iberia is set to complete in January, swung to a pretax profit of 158 million pounds ($251.6 million) for the six months to September 30 from a loss of 292 million in the same period last year.
- 28Oct
(Reuters) - Stocks fell on Thursday, as 3M dragged industrial shares lower and investors shied away from big bets ahead of the Federal Reserve's expected monetary easing. An unexpected drop in new claims for unemployment benefits boosted stocks early as did a weak dollar, but the inverse relationship between the greenback and stocks appeared to break down. Mixed earnings also added to the choppy action.
- 28Oct
(Reuters) - Exxon Mobil (XOM.N), the world's largest publicly traded oil company, said on Thursday its quarterly profit rose 55 percent, topping expectations, as higher crude prices and improved refining margins boosted results. Third-quarter earnings for oil companies have been helped by a rebound in oil and natural gas prices. Slow improvement in the global economy has also lifted demand for fuels like diesel and gasoline, helping refining businesses.
- 28Oct
(Reuters) - New claims for unemployment benefits fell last week to a three-month low, hinting at some improvement in the listless labor market. Initial claims for state unemployment benefits dropped 21,000 to a seasonally adjusted 434,000, the lowest since the week ended July 10, the Labor Department said on Thursday. That was the second straight decline in claims.
- 28Oct
(Reuters) - Motorola Inc (MOT.N) made money from its phones for the first time in more than three years, helped by smartphones running Google Inc's (GOOG.O) Android software, and its shares rose nearly 7 percent. While analysts applauded the profit, which came a quarter earlier than expected, they questioned Motorola on how it would battle new competition when key customer Verizon Wireless starts selling Apple Inc's (AAPL.O) iPhone, widely expected next year.
