NewsDaily: Business Headlines

Stocks could sputter with Black Friday eyed (Reuters)

Leah Schnurr — Fri, 20 Nov 2009 21:14:01 EST

NEW YORK, Nov. 20, 2009 (Reuters) -- U.S. stocks could sputter next week as volumes dry up in holiday-shortened trading and with a slew of economic reports likely to illustrate the recovery is still fragile. ... > read full story

Hershey weighs $17 billion Cadbury bid: source (Reuters)

Fri, 20 Nov 2009 16:58:44 EST

PHILADELPHIA, Nov. 20, 2009 (Reuters) -- U.S. chocolate maker Hershey Co <HSY.N> is considering launching a bid of at least $17 billion for British chocolatier Cadbury Plc <CBRY.L> in an effort to outstrip a hostile offer by Kraft Foods Inc, a source familiar with the matter said on Friday. ... > read full story

Paulson's golden investors have to commit $10 million (Reuters)

Svea Herbst-Bayliss — Fri, 20 Nov 2009 16:49:45 EST

BOSTON, Nov. 20, 2009 (Reuters) -- Investors tempted to put money into star hedge fund manager John Paulson's new gold portfolio will have to commit at least $10 million and leave the money locked up for at least one year, according to a prospectus. ... > read full story

Black Friday deals may not signal retail comeback (Reuters)

Jessica Wohl — Fri, 20 Nov 2009 15:18:13 EST

CHICAGO, Nov. 20, 2009 (Reuters) -- When the U.S. holiday shopping season kicks off on the day after Thanksgiving, retailers can expect to see millions of less frightened but even more bargain hungry customers cross their thresholds. ... > read full story

U.S. Q3 seen revised down on widening trade deficit (Reuters)

Fri, 20 Nov 2009 14:55:20 EST

WASHINGTON, Nov. 20, 2009 (Reuters) -- The U.S. economy's return to growth in the third quarter was less brisk than previously thought as the trade deficit worsened and companies still aggressively cut inventories, a Reuters survey predicted. ... > read full story

Ex-Vivendi CEO Messier testifies: Losses not fraud (Reuters)

Grant McCool — Fri, 20 Nov 2009 14:41:12 EST

NEW YORK, Nov. 20, 2009 (Reuters) -- Former Vivendi CEO Jean-Marie Messier told a U.S. jury he "never, never, never" committed fraud as he took the stand on Friday in a civil trial pitting international shareholders against the French conglomerate and former top executives. ... > read full story

U.S. lawmakers urged to drop clearinghouse owner cap (Reuters)

Jonathan Spicer — Fri, 20 Nov 2009 14:08:19 EST

NEW YORK, Nov. 20, 2009 (Reuters) -- NYSE Euronext <NYX.N>, LCH.Clearnet, BATS Global Markets and other firms partnered with banks have urged two U.S. legislators to drop a proposed "rigid" cap on dealer ownership of clearinghouses, according to a letter sent this week. ... > read full story

Rio's Cloud Peak IPO edges down, 3 other IPOs up (Reuters)

Clare Baldwin and Phil Wahba — Fri, 20 Nov 2009 13:11:10 EST

NEW YORK, Nov. 20, 2009 (Reuters) -- Investors bet on growth on Friday, bumping up shares in two newly listed companies with strong trajectories while remaining neutral or down on two others whose prospects are murkier. ... > read full story

Existing home sales seen at highest since July 2007 (Reuters)

Julie Haviv — Fri, 20 Nov 2009 13:06:00 EST

New York, Nov. 20, 2009 (Reuters) -- Sales of existing U.S. homes likely rose for second consecutive month in October, reaching their highest level since July 2007, according to a Reuters poll, as buyers scrambled to take advantage of greater affordability and a first-time home buyer tax credit. ... > read full story

Cautious optimism as job losses slow (Reuters)

Fri, 20 Nov 2009 13:02:13 EST

WASHINGTON, Nov. 20, 2009 (Reuters) -- The pace of job losses slowed in many U.S. states in October, and the unemployment rate slipped in hard-hit Michigan, the Labor Department said on Friday, hinting the recession may be easing in some areas. ... > read full story

U.S. layoffs fall in October (Reuters)

Fri, 20 Nov 2009 11:10:21 EST

WASHINGTON, Nov. 20, 2009 (Reuters) -- The number of mass layoffs reported by U.S. employers fell last month from September, a government report showed on Friday, suggesting job losses were close to bottoming. ... > read full story

Rio Tinto unit Cloud Peak falls in NYSE debut (Reuters)

Fri, 20 Nov 2009 10:20:59 EST

NEW YORK, Nov. 20, 2009 (Reuters) -- Cloud Peak Energy Inc <CLD.N>, a unit of Rio Tinto Plc, fell in its debut on the New York Stock Exchange on Friday after its shares priced below expectations in the U.S. coal miner's initial public offering. ... > read full story

P&G repurchasing shares, quiet on potential deals (Reuters)

Fri, 20 Nov 2009 09:33:41 EST

CHICAGO, Nov. 20, 2009 (Reuters) -- Procter & Gamble Co <PG.N> does not see acquisitions as a core part of its growth plan and has started to buy back shares again, Chief Financial Officer Jon Moeller said on Friday. ... > read full story

AnnTaylor profit tops Wall Street view (Reuters)

Fri, 20 Nov 2009 08:08:22 EST

NEW YORK, Nov. 20, 2009 (Reuters) -- AnnTaylor Stores Corp <ANN.N> reported higher-than-expected quarterly earnings on Friday, as the retailer's lower inventory levels helped its gross margins. ... > read full story

D.R. Horton posts narrower Q4 loss (Reuters)

Fri, 20 Nov 2009 08:04:09 EST

, Nov. 20, 2009 (Reuters) -- D.R. Horton Inc <DHI.N>, the No. 2 U.S. homebuilder, reported a narrower fourth-quarter loss, mainly helped by lower charges. ... > read full story

Bankers say crisis lessons must be taken to heart (Reuters)

Edward Taylor and Sakari Suoninen — Fri, 20 Nov 2009 08:00:13 EST

FRANKFURT, Nov. 20, 2009 (Reuters) -- Bankers and regulators should learn the lessons of the global financial crisis and drive through changes to prevent future breakdowns, financiers said on Friday. ... > read full story

J.M. Smucker Q2 beats Street, raises FY EPS view (Reuters)

Fri, 20 Nov 2009 07:45:32 EST

, Nov. 20, 2009 (Reuters) -- J.M. Smucker Co <SJM.N>, best known for its peanut butter and jelly, posted higher-than-expected quarterly results, driven by strong margins at its Folgers coffee business, and raised its full-year profit outlook. ... > read full story

GE, Vivendi differ on NBCU valuation: report (Reuters)

Fri, 20 Nov 2009 06:06:38 EST

PARIS/NEW YORK, Nov. 20, 2009 (Reuters) -- General Electric <GE.N> and Vivendi <VIV.PA> are at least $1 billion apart in their valuation of the French group's stake in NBC Universal, the Financial Times said, dampening hopes of a swift sale. ... > read full story

Ferrero could eye Cadbury gum, candy unit: report (Reuters)

Fri, 20 Nov 2009 02:42:33 EST

MILAN, Nov. 20, 2009 (Reuters) -- Italian chocolate maker Ferrero could be interested in Cadbury's <CBRY.L> gum and candy division, a unit worth about 5 billion euros ($7.4 billion), in a possible joint takeover bid, business daily Il Sole 24 Ore said on Friday. ... > read full story

Big shareholders ask Goldman to cut bonuses: report (Reuters)

Fri, 20 Nov 2009 00:44:34 EST

, Nov. 20, 2009 (Reuters) -- Some of Goldman Sachs Group Inc's <GS.N> largest shareholders have asked the company to cut the size of its bonus pool and pass along more of its profits to investors, the Wall Street Journal reported, citing people familiar with the situation. ... > read full story