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MSNBC Business News
Canada Wildfire, Libya Violence Stoke Oil Supply Fears
Thu, 05 May 2016 10:12:02 GMT
A huge wildfire near Canada's oil sands region and escalating tensions in Libya stoked concern among investors over a near-term supply shortage.
Proposed Rule Would Allow Class-Action Suits Against Banks
Thu, 05 May 2016 21:19:00 GMT
A rule proposed Thursday by the Consumer Financial Protection Bureau could potentially redefine the way consumers interact with their banks.
Periscope Will Now Let You Keep Your Live Streams Forever
Thu, 05 May 2016 19:15:00 GMT
Live streaming app Periscope is following their rival Facebook, testing a feature to allow users to permanently save their broadcasts.
After a Hiatus, Wal-Mart Welcomes Back its Greeters
Thu, 05 May 2016 17:49:00 GMT
Having eliminated the position from its 5,000-plus U.S. stores four years ago,Walmart announced it will be returning 9,000 greeters to its stores.
Don't Be Like Prince. How to Set Up an Estate Plan
Thu, 05 May 2016 17:05:00 GMT
The bottom line is, you should get all of your affairs in order now — before the inevitable happens.
Donald Trump is 'of Evil Character,' Barry Diller Says
Thu, 05 May 2016 15:02:00 GMT
Media mogul Barry Diller had some harsh words about Republican presidential front-runner Donald Trump on Thursday.
Apple Says App Store Problem Affecting 'All Users'
Thu, 05 May 2016 14:57:00 GMT
Apple said Thursday morning that users were experiencing a problem with its App Store.
Tech Urges Presidential Candidates to Embrace Trade, Visas
Thu, 05 May 2016 14:20:00 GMT
Backing for the TPP runs counter to positions taken by presumptive Republican candidate Donald Trump and Democratic front-runner Hillary Clinton.
Jobless Claims Rise; Planned Layoffs Surge
Thu, 05 May 2016 13:20:00 GMT
The number of Americans filing for unemployment benefits rose more than expected last week, posting the biggest gain in more than a year.
Tesla Wants to Make 500,000 Electric Cars a Year by 2018
Thu, 05 May 2016 13:04:00 GMT
Tesla Motors on Wednesday posted quarterly results that met Wall Street's expectations and gave a bullish outlook for vehicle production.
Severe Turbulence Triggers Prayers and Panic; 31 Hurt
Thu, 05 May 2016 12:26:43 GMT
Frightening video shows severe turbulence on an Etihad Airways flight from Abu Dhabi to Jakarta. The plane landed safely about 45 minutes later.
Trump's Deportation Plan 'Could Slice 2 Percent off GDP'
Thu, 05 May 2016 11:20:00 GMT
Donald Trump's vow to deport America's undocumented immigrants if he is elected president could shrink the economy by around 2 percent.
Do This to Your Savings Before Election, Say Experts
Thu, 05 May 2016 10:55:09 GMT
The last two weeks of primaries have been a game-changer for the 2016 U.S. Presidential race, and also a bellwether for investors.
How to Snag the Best Credit-Card Perks
Wed, 04 May 2016 20:58:00 GMT
You've seen the commercials. You've gotten the junk mail.Offers for "fly anytime," "double cash back" and "no annual fee" credit cards are everywhere.
Why Luxury Carmakers Are Going Vroom for the SUV Boom
Wed, 04 May 2016 19:58:00 GMT
As much as might be possible for a car costing over $250,000 and making more than 600 horsepower, the Bentley Continental GT Speed is a relatively sub
Takata Ordered to Recall Up to 40 Million More Airbags
Wed, 04 May 2016 19:31:00 GMT
The previous recall involved about 24 million vehicles sold in the U.S. over roughly the last decade, with 14 manufacturers impacted.
India Rejects Apple's Plan to Import Used iPhones
Wed, 04 May 2016 17:37:00 GMT
India has rejected a plan by Apple Inc to import used iPhones, government officials said on Wednesday, a blow to the U.S. tech giant.
Takata Set to Nearly Double Airbag Inflator Recall
Wed, 04 May 2016 14:40:00 GMT
Japanese airbag manufacturer Takata is set to add another 35 to 40 million airbag inflators to its already massive recall.
Trump's Rise Baffles China (Where His Name Markets Toilets)
Wed, 04 May 2016 14:19:08 GMT
Donald Trump has frequently used China as a target of criticism.
Takata Airbags May Have Caused 2 More Deaths in Malaysia
Wed, 04 May 2016 14:18:00 GMT
Both crashes involved driver's air bag inflators in older Honda City small cars, according to a statement released Wednesday by Honda.
MSNBC Business News
BBC Business News
BHS inquiry chairman 'should resign'
Thu, 05 May 2016 22:25:23 GMT
The former owner of BHS, Sir Philip Green, has called on the chairman of a Commons committee examining the collapse of the UK chain to resign.
Bitcoin 'creator' cancels proof
Thu, 05 May 2016 12:15:55 GMT
Craig Wright, the Australian entrepreneur who has claimed to be the inventor of Bitcoin, reneges on a promise to provide "extraordinary proof".
BT in 'ultra-fast' broadband promise
Thu, 05 May 2016 13:35:13 GMT
BT Group says it plans to invest £6bn in faster broadband and mobile services but Sky says the plan has 'limited ambition'.
News Corp reports $149m quarterly loss
Fri, 06 May 2016 01:15:28 GMT
Rupert Murdoch's media empire News Corp posts a quarterly loss in the three months to March, due to a legal settlement charge.
Airbnb looking 'beyond accommodation'
Thu, 05 May 2016 12:52:47 GMT
Airbnb's chief technology officer says the company is looking at pairing guests and hosts for activities.
Economy 'near stalling' as services slow
Thu, 05 May 2016 09:59:05 GMT
UK economic growth is "near stalling", partly due to uncertainty over the EU referendum, according to a closely-watched survey.
Fraudsters 'using the dead' in scam
Thu, 05 May 2016 11:58:38 GMT
Fraudsters are impersonating homeowners who have recently died or solicitors in order to steal money in mortgage transactions.
Alibaba profits soar on mobile sales
Thu, 05 May 2016 13:12:11 GMT
The world's biggest e-commerce company Alibaba reports a 193% jump in annual profits as sales on mobile devices jump.
Sales recovery continues at Morrisons
Thu, 05 May 2016 08:21:16 GMT
Morrisons supermarket reports a second quarter of rising sales as it continues to cut costs and prices.
New Day paper to close after poor sales
Thu, 05 May 2016 09:49:21 GMT
The editor of the New Day says her team "tried everything" to make a success of the newspaper but low sales were to blame for its demise, just nine weeks after it was launched.
Zimbabwe to print US dollar equivalent
Thu, 05 May 2016 09:49:11 GMT
Zimbabwe is set to print its own version of the US dollar in order to ease severe cash shortages in the country.
Clydesdale Bank's new PPI payouts
Thu, 05 May 2016 05:25:24 GMT
Another £450m is set aside to compensate Clydesdale Bank customers for mis-sold payment protection insurance (PPI).
VIDEO: China: What's in a name?
Wed, 04 May 2016 19:27:08 GMT
Apple has been forced to share the iPhone name in China, but which other US brands have had similar problems in the country?
VIDEO: Will our clothes be 3D printed in future?
Wed, 04 May 2016 05:52:11 GMT
Fashion in the age of technology is being celebrated at the Metropolitan Museum of Art's Costume Institute exhibition.
VIDEO: Are amber's golden days numbered?
Wed, 04 May 2016 23:09:24 GMT
Strong demand, especially from China, has helped ramp up the price of the ornamental resin amber, making it worth more than its weight in gold - some fear an investment bubble.
VIDEO: Dealing with Mexico City's rising smog
Tue, 03 May 2016 23:42:16 GMT
The air quality in Mexico City dropped to its worst level in 14 years this March. The BBC looks at some of the solutions for dealing with air pollution.
VIDEO: Disrupting deliveries in Nairobi
Mon, 02 May 2016 23:21:32 GMT
Can Sendy take on the giants of delivery in Nairobi with the sharing economy?
VIDEO: Cashing in on the Philippine election
Wed, 04 May 2016 00:43:27 GMT
Money being spent on next week's general election in the Philippines is so huge it is likely to provide an economic boost.
VIDEO: 'Bank of Mum and Dad will only grow'
Tue, 03 May 2016 11:07:53 GMT
Independent property expert Louisa Fletcher says she can only see the "Bank of Mum and Dad" growing, but has a warning for parents.
VIDEO: Bitcoin 'creator': 'I want to be left alone'
Mon, 02 May 2016 06:59:55 GMT
Australian entrepreneur Craig Wright says he is Bitcoin creator Satoshi Nakamoto.
BBC Business News
Yahoo Business News
Asian shares languish near three-week low ahead of U.S. jobs data
Thu, 05 May 2016 21:00:09 -0400
A man walks past an electronic board displaying the Nikkei average outside a brokerage in Tokyo, JapanBy Hideyuki Sano TOKYO (Reuters) - Asian shares wallowed near three-week lows as investors braced for the U.S. payrolls report after other jobs-related data raised some doubts about the seemingly rosy picture on employment conditions in the world's no. 1 economy. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent, flirting with its lowest level since mid-April. Japan's Nikkei was down 0.3 percent as markets there resumed trading since closing for holidays on Tuesday.

News Corp's quarterly revenue falls 7.3 percent, profit hit by charge
Thu, 05 May 2016 19:51:48 -0400
Media mogul Rupert Murdoch leaves his home in London(Reuters) - News Corp , owner of the Wall Street Journal and book publisher HarperCollins, reported its fifth drop in quarterly revenue in a row as print ad sales declined and a strong dollar hit income from outside the United States. News Corp reported a net loss available to shareholders of $149 million, or 26 cents per share, in the three months ended March 31, compared with a profit of $23 million, or 4 cents per share, a year earlier. The company was hurt by a one-time charge of $280 million at its News America Marketing business.

Alibaba's revenue soars, but new ventures hit profit
Thu, 05 May 2016 12:12:57 -0400
A logo of Alibaba Group is seen on a building under construction, where the company's Beijing headquarters will be, in BeijingAlibaba Group Holding Ltd, China's biggest e-commerce company, said fourth-quarter sales rose 39 percent after its core online shopping business grew, but profit fell for the first time as it spent on ventures like food delivery. Net income excluding extraordinary items, Alibaba's preferred measure for earnings, shrank 1.4 percent to 7.6 billion yuan from the previous year, as the company continued to invest heavily in new but shakier businesses. Its online finance affiliate Ant Financial Services Group, one of founder Jack Ma's crown jewels in his e-commerce empire, recorded a net loss in the quarter.

Hits to Americas oil output show global glut not invincible
Thu, 05 May 2016 19:50:26 -0400
Officers look on as smoke from Fort McMurray's raging wildfires billow into the air after their city was evacuatedDrops in oil output are happening so fast that it looks as if the Americas alone could resolve global oversupply. "Unplanned oil supply disruptions have been a key element so far this year that have contributed to a tighter oil market than was otherwise expected," analyst Guy Baber of Simmons & Co. told clients on Thursday. Consider this: The wildfire in Fort McMurray, at the heart of Canada's oil sands region, has forced more than 640,000 bpd out of production, according to Reuters estimates, and one operator, Canadian Natural Resources Ltd, said if it loses power then its crude output would tumble about 80 percent.

Panama-based Balboa Bank & Trust seized following U.S. probe
Thu, 05 May 2016 21:27:52 -0400
A general view of Balboa Bank & Trust in Panama CityThe U.S. Treasury on Thursday blacklisted an extensive Panama-based money laundering operation that allegedly helped multiple drug trafficking groups hide the source of their illicit gains through various companies, including Balboa Bank & Trust. The U.S. Treasury's Office of Foreign Assets Control (OFAC) said the operation, led by Nidal Waked Hatum and Abdul Waked Fares, used 68 companies including Grupo Wisa - a holding company that includes real estate, construction, retail and media businesses. Panama's banking regulator said it was taking control of Balboa Bank & Trust due to its alleged links to the money laundering scheme.

U.S. issues rule requiring banks to identify shell company owners
Thu, 05 May 2016 21:03:41 -0400
File photo of a company list showing the Mossack Fonseca law firm on a sign at the Arango Orillac Building in Panama CityWASHINGTON/NEW YORK (Reuters) - The Obama administration is issuing a long-delayed rule requiring the financial industry to identify the real owners of companies and proposing a bill that would require companies to report the identities of their owners to the federal government, U.S. officials said on Thursday. The Customer Due Diligence (CDD) rule, in the works since 2012, and the proposed legislation are meant to hinder criminals from using shell companies to hide ownership and launder money, finance terror, and commit other threats to the global financial system. The use of shell companies to hide assets and avoid taxes is in the spotlight following a massive leak of data from the Panama-based law firm Mossack Fonseca, which embarrassed several world leaders and sparked government investigations around the globe into possible financial wrongdoing by the wealthy elite.

Time to raise inflation target? No, Fed officials say
Thu, 05 May 2016 21:30:46 -0400
The Federal Reserve building in WashingtonGlobal central bankers are having a hard time boosting economic growth and inflation to healthier levels, but raising inflation targets, as some analysts have suggested, is not the answer, Federal Reserve officials said on Thursday. The Fed, like many central banks, targets 2.0 percent inflation, but has struggled to get the economy growing fast enough to lift inflation to that level.

Oil up as fire curbs Canada output; higher dollar, stockpiles cap gains
Thu, 05 May 2016 15:37:21 -0400
Officers look on as smoke from Fort McMurray's raging wildfires billow into the air after their city was evacuatedBy Barani Krishnan NEW YORK (Reuters) - Oil prices surged on Thursday after a raging wildfire near Canada's oil sands region curbed output that mainly flows to the United States, before settling off their highs as a rebounding dollar and a huge U.S. stockpile build cut into gains. While the oil sands facilities are mostly to the north of the wildfire in city of Fort McMurray in Alberta that is spreading south, as much as a third of Canada's daily crude capacity has been cut and some major pipelines closed after more evacuations were ordered. "The Canadian blaze, horrific as it is, is far south of the real producing fields to cause real lasting damage to production there," said John Kilduff, partner at New York energy hedge fund Again Capital.

Herbalife in advanced talks to settle FTC probe, issues remain
Thu, 05 May 2016 20:28:45 -0400
An Herbalife logo is shown on a poster at a clinic in the Mission District in San FranciscoHerbalife Ltd, which has been accused by billionaire investor William Ackman of being a fraud, said it was in advanced talks with the U.S. Federal Trade Commission to settle a probe into whether it runs a pyramid scheme. The company estimated that a fine could be $200 million, which helped the company's shares rise 14.5 percent in extended trading on Thursday. Injunctive relief, a spokesman said, could be "just as significant as the money obtained for consumers and even more influential on a company's future operations." Ackman unveiled a $1 billion short bet against Herbalife in 2012 accusing the company of running a pyramid scheme which pays members more for recruiting new members than for selling its products.

Fitch downgrades Brazil, Meirelles calls for credible targets
Thu, 05 May 2016 21:24:44 -0400
The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in LondonBy Alonso Soto and Aluisio Alves SAO PAULO (Reuters) - Fitch Ratings downgraded Brazil's sovereign debt further into junk territory on Thursday, citing a deeper-than-expected economic contraction and changing fiscal targets that have undermined credibility. Fitch downgraded Brazil to BB from BB+ with a negative outlook a week before a Senate vote that is expected to lead to the ouster of unpopular leftist President Dilma Rousseff. Henrique Meirelles, a likely finance minister if Vice President Michel Temer becomes president, said the first step Brazil must take is to establish realistic targets.

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