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Business Stories

RBS takes $640 million forex charge and warns of more to come

LONDON (Reuters) – State-backed Royal Bank of Scotland (RBS.L) has set aside 400 million pounds ($640 million) to cover potential fines for manipulating currency markets and warned further charges for past misconduct would continue to hit its profits. RBS, 80 … Continue reading

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Continental AG CEO says Audi recall no threat to guidance

MUNICH (Reuters) – Continental (CONG.DE) said a fault with airbags installed at premium sportscar maker Audi could cost a double-digit million euro amount to fix, a sum which the German automotive supplier could absorb without revising its earnings guidance. Earlier … Continue reading

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Futures rally after BOJ ramps up stimulus

NEW YORK (Reuters) – U.S. stock index futures rallied on Friday after the Bank of Japan significantly ramped up its stimulus program just days after the U.S. Federal Reserve wound down its own package of economic incentives. * The BOJ’s … Continue reading

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Italy says private capital will meet Monte Paschi, Carige needs

ROME (Reuters) – Banca Monte dei Paschi di Siena (BMPS.MI) and Carige CRCI.MI will make up the capital shortfalls revealed in the ECB stress tests through private sector financing, Italian Economy Minister Pier Carlo Padoan said on Friday. “The remaining … Continue reading

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LinkedIn revenue jumps 45 percent as companies hire more

(Reuters) – Corporate networking site LinkedIn Corp (LNKD.N) reported a 45 percent rise in quarterly revenue as more businesses used its services to hire staff. The company’s net loss attributable to stockholders widened to $4.3 million, or 3 cents per … Continue reading

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Trade, defense buoy U.S. economy, but some weakness creeps in

WASHINGTON (Reuters) – A smaller trade deficit and surge in defense spending buoyed U.S. economic growth in the third quarter, but domestic demand slipped, hinting at some loss of momentum. Gross domestic product grew at a 3.5 percent annual pace, … Continue reading

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Wall St. up on GDP, earnings; fund year-end lifts winners

NEW YORK (Reuters) – U.S. stocks rose on Thursday, boosted by a strong reading on quarterly economic growth and by another round of upbeat earnings reports including Visa, which accounted for nearly 140 points in the Dow industrials. Despite the … Continue reading

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Western Union beats estimates as digital business revenue jumps

(Reuters) – Western Union Co (WU.N), the world’s largest money-transfer company, reported a better-than-expected quarterly profit as the company benefited from its digital money transfer services. Revenue at the company’s digital business, which includes westernunion.com and mobile money transfer, jumped … Continue reading

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U.S. prosecutors reopen probes against several big banks: NYT

(Reuters) – U.S. prosecutors are reopening investigations into big banks on suspicion they may have violated agreements under which the institutions settled prior cases against them, The New York Times reported, citing lawyers briefed with the matter. With the settlements, … Continue reading

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Samsung seeks smartphone revamp to arrest profit slide

SEOUL (Reuters) – Samsung Electronics Co Ltd (005930.KS) on Thursday said it would revamp its smartphone line-up to take on competitors in the rapidly growing mid-to-low range segment, after third-quarter earnings set it on course for its worst year since … Continue reading

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