Financial News

Wall Street set for lower open on euro zone concerns

(16.05.2011)NEW YORK (Reuters) - Wall Street was set for a lower open on Monday as euro zone leaders sought to resolve the sovereign debt crisis, with the arrest of the IMF's chief over the weekend increasing jitters.

Nasdaq, ICE pull NYSE bid, cite regulators

(16.05.2011)NEW YORK (Reuters) - Nasdaq OMX Group Inc and IntercontinentalExchange are withdrawing their bid for rival exchange NYSE Euronext, saying it became clear they would not win approval for the deal from the Department of Justice's antitrust division.

Canada banks' TMX bid tops LSE

(16.05.2011)TORONTO, May 15 (Reuters) - A group of Canadian banks and pension funds are hoping their C$3.6 billion ($3.7 billion) offer for TMX Group will keep the nation's largest stock market from falling into foreign hands, but questions remained on Sunday whether that is reason enough to succeed.

Lowe's cuts outlook after weak spring sales

(16.05.2011)NEW YORK (Reuters) - Lowe's Cos reported weaker-than-expected quarterly results on a slow start to the spring selling season, prompting the world's second-largest home improvement chain to cut its forecast for the year.

Euro zone to back Portugal aid, IMF deputy attends

(16.05.2011)BRUSSELS (Reuters) - Euro zone finance ministers are ready to back an EU/IMF bailout of Portugal at a Monday meeting overshadowed by the arrest of International Monetary Fund chief Dominique Strauss-Kahn on sexual assault charges.

Glencore lifts mid-point of price range for IPO: source

(16.05.2011)HONG KONG (Reuters) - Glencore International Plc has tightened guidance for its planned $11 billion initial public offering (IPO), pushing up the mid-point of the marketing range, a source said, in a sign the commodities trader has seen stronger demand at the higher end of an indicative range.

Yahoo faces tough ride to iron out differences with Alibaba

(16.05.2011)SHANGHAI (Reuters) - Yahoo Inc and Alibaba Group will find it difficult to resolve their feud over the Chinese company's transfer of a major Internet asset, raising questions over how long its troubled marriage would last.

Penney gets lift from exclusives, raises outlook

(16.05.2011)NEW YORK (Reuters) - J.C. Penney Co Inc reported a higher quarterly profit as it benefited from increased sales of its exclusive merchandise and cost-cutting, and the department store operator raised its full-year profit forecast, sending its shares up 6 percent.

AIG stock sale draws initial investor interest: report

(16.05.2011)NEW YORK (Reuters) - Underwriters for the planned $9 billion stock sale by American International Group Inc and the Treasury have indications of interest from investors for about half the offering, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

EU urges Thomson Reuters to resolve codes probe

(16.05.2011)BRUSSELS (Reuters) - News and data provider Thomson Reuters should work to resolve a probe into the codes it allocates to company shares after rival S&P offered a fees cap to settle its own case, the EU's competition chief said on Monday.