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Bankers should be allowed to serve on the board of directors of the dozen Federal Reserve district banks because they provide critical in-depth information about current economic conditions, said Esther George, the president of the Kansas City Fed, on Thursday.
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For some American money managers, food and beverage firms like Nestle SA (NSRGY, NESN.VX) and SABMiller PLC (SBMRY, SAB.LN, SAB.JO) look like a tasty way to tap growth in emerging markets.
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United Technologies Corp. (UTX) has hit the U.S. bond market with a six-part benchmark deal to help it finance its $16.5 billion takeover of Goodrich Corp. (GR).
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Although inflation has stayed stronger in recent months than many expected, some of the upward pressures on prices are "fading," William Dudley, the president of the New York Federal Reserve Bank, said Thursday." In a speech to the Council on Foreign Relations in New York, Dudley noted that oil and gasoline prices have fallen recently and apparel prices should drop due to the sharp decline in cotton prices.
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Reckitt Benckiser Group PLC (RB.LN), said Thursday that it purchased 400,000 ordinary shares of the company at a price of GBP33.9290410 per share, adding that these shares will be held as treasury shares.
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Compass Group PLC (CPG.LN) said Thursday it bought 300,000 ordinary shares to cancel at 627.9400 pence per share through Morgan Stanley Securities Ltd.
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United Technologies Corp. (UTX) has hit the U.S. bond market with a six-part benchmark deal to help it finance its $16.5 billion takeover of Goodrich Corp. (GR).
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Shares of jewelry retailers Tiffany & Co. and Signet Jewelers Ltd. tumbled 8.2% and 7% respectively on Thursday after the retailers gave disappointing profit forecasts and Tiffany's first-quarter profit also came in short.
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Tiffany shares slid as the luxury jeweler reported a lower-than-expected profit in the first-quarter and slashed its fiscal-year sales profit forecasts citing slow economic growth.
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General Mills Inc. said Thursday it would pay an undisclosed sum to buy Yoki Alimentos S.A., a privately-held food company with 5,000 employees based in Sao Bernardo do Compo, Brazil.
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Costco narrowly beat the Street with a 19% jump in fiscal third-quarter profits, but the warehouse retailer’s sales growth came in shy of expectations.
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H.J.
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Ketchup maker Heinz reported a narrowed fourth-quarter profit and sales that missed Wall Street expectations.
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Tiffany & Co. on Thursday cut is 2012 profit outlook partly after seeing "decelerating rates of economic growth" in the balance of the year.
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Genting Bhd (3182.KU) said Thursday its unit Genting Capital Bhd has received approval from the Malaysian Securities Commission to set up a MYR2.00 billion ($634.2 million) medium-term note program.
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Costco Wholesale Corp.'s (COST) fiscal third-quarter earnings rose 19% as the wholesale-club operator's revenue grew slower than expected.
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Among the companies with shares expected to actively trade in Thursday's session are Hewlett-Packard Co. (HPQ), Pandora Media Inc. (P) and NetApp Inc. (NTAP).
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European markets traded volatile on Thursday, but stocks moved off earlier lows to trade rise, shaking off a clutch of downbeat euro-area data.
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Brewing giant SABMiller PLC (SAB.LN) Thursday said it is minimizing its exposure to the European single currency and is standing ready with contingency plans as the sovereign debt crisis looks ever more perilous.
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France's largest retailer Carrefour SA (CA.FR) Thursday said Georges Plassat has taken over as chief executive, effective May 23, replacing Lars Olofsson, who retired from the company on the same day.
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Pursuit Dynamics PLC (PDX.LN), the developer of PDX Atomiser and PDX Reactor products and technology, reported a slightly widened pretax loss for the first half of the year, and said that it has accelerated its strategic review of the business in the light of Procter & Gamble's (PG) decision of not entering into licensing talks with the company.
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Costco Wholesale Corp., the Issaquah, Wash., warehouse retailer, reported that fiscal-third-quarter earnings rose 19% on 8.2% higher sales and 5% higher same-store sales.
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SABMiller PLC (SAB.LN) Thursday said consumer spending in mature beer markets remain subdued, even as the brewing giant posted a 75% jump in net profit, with higher revenue driven by volume growth in emerging economies and price increases.
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Swiss watch exports rose 9% in April illustrating a slowdown in the industry's recent growth momentum, data released Thursday by the Swiss customs office showed.
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Hasbro Inc. (HAS) has pushed back the theatrical release for "G.I.
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Corporate bonds weakened Wednesday as risk aversion took hold of investors, but McDonald's (MCD) was lovin' it.
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Procter & Gamble Co. (PG) pledged to stabilize its largest, most-profitable businesses before spending any money on further emerging-market expansion, where Chief Financial Officer Jon Moeller said the company may have been overzealous in chasing growth.
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Macy's Inc.'s (M) is making its first investment abroad on behalf of its namesake stores by acquiring a stake in a Chinese online retailer that will sell Macy's merchandise on its website.
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Embattled Diamond Foods said in a regulatory filing Wednesday it issued a new walnut purchase agreement for growers who wish to sell their crop to the company.
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The California Public Employees' Retirement System said it would withhold votes from nine Wal-Mart Stores Inc. (WMT) board members, including Chief Executive Mike Duke, Reuters reported Wednesday.
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The United States is much closer than generally thought to full employment and it is time for the Fed to shift away from its ultra-easy monetary policy stance, said Narayana Kocherlakota, the president of the Minneapolis Federal Reserve Bank, on Wednesday.
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Corporate bonds are weakening as risk-aversion takes hold of investors, but McDonald's (MCD) is lovin' it.
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Compass Group PLC (CPG.LN) said Wednesday it purchased for cancellation 300,000 ordinary shares at a price of 623.9200 pence per share through Morgan Stanley Securities Ltd.
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Wm.
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Reckitt Benckiser Group PLC(RB.LN) said Wednesday that it bought 500,000 of its shares for treasury at 3,399.04 pence per share.
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Activision Blizzard Inc. (ATVI) said Wednesday that "Diablo III," a new online, PC-based game, sold more than 3.5 million copies in its first 24 hours after launching.
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CHICAGO ( -- Kraft Foods said Wednesday that its shareholders had overwhelmingly voted to approve a change in the company's name to Mondelez International, to be effective after it spins off its North American grocery business.
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Sales of newly built homes in the U.S. grew faster than expected in April and home prices posted a solid gain the prior month, adding to the increasing momentum for the long-struggling sector.
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U.S. home prices rose in March and in the first quarter of the year, according to a government index released Wednesday, highlighting a trend of gradual stabilization as the market finds its footing after a severe bust.
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Procter & Gamble Co. (PG) pledged to stabilize its largest, most profitable businesses before spending any money on further emerging market expansion, where Chief Financial Officer Jon Moeller said the company may have been overzealous in chasing growth.
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U.S. home prices rose in March and in the first quarter of the year, according to a government index released Wednesday, highlighting a trend of gradual stabilization as the market finds its footing after a severe bust.
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Macy's will start selling some items from its private-brand collection directly to shoppers in China through a deal with a new online retailer that will allow it to gauge its long-term prospects there.
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Sales of newly built homes in the U.S. increased in April, another sign that the long-struggling housing sector is finding its footing.
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Jewelry retailer Zale Corp. shares jumped 10% to $2.57 after it posted a smaller-than-expected fiscal third-quarter loss and its same-store sales rose for a sixth straight quarter.
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Hormel Foods shares rose 2% to $29.80 early Wednesday following the company's fiscal second-quarter report.
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Zale’s narrowed its third-quarter loss on Wednesday and reported higher U.S. sales of fine jewelry.
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Tata Global Beverages Ltd. (500800.BY), which owns the Tetley brand of tea and has a tie-up with Starbucks Corp. (SBUX) to open the U.S. company's cafes in India, Wednesday reported a more than 36% drop in its quarterly net profit, weighed by exceptional costs.
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Slammed by slumping same-store sales, Big Lots suffered a deeper-than-expected 22% slide in first-quarter sales and cut its full-year guidance.
