Editor Choice - Diaal News

News Corp. OKs poison pill, buyback before split

2013-05-25 05:41:44 UTC
LOS ANGELES (AP) — News Corp. said its board of directors has approved plans to split its entertainment and publishing businesses into two separate companies. The company also adopted a shareholder-rights plan designed to prevent a hostile t...

Barrick fined $16m for Pascua-Lama violations

2013-05-25 05:27:40 UTC
VALLENAR, Chile (AP) — Chile's environmental regulator blocked Barrick Gold Corp.'s $8.5 billion Pascua-Lama project on Friday and imposed its maximum fine on the world's largest gold miner, citing "very serious" violations of its environmenta...

Delta ups the ante in battle for NY travel market

2013-05-25 05:25:27 UTC
NEW YORK (AP) — Delta's formula for winning over New York travelers is simple: floor-to-ceiling windows, abundant power outlets and a burger joint with a cult-like following. The airline opened a sprawling $1.4 billion terminal at Kennedy...

China gives US regulators access to audit records

2013-05-24 16:22:45 UTC
WASHINGTON (AP) — China has agreed to give U.S. regulators access to audit records for Chinese companies whose shares trade on U.S. stock exchanges, a step forward in a long-running dispute. The Public Company Accounting Oversight Board, a w...

China, Switzerland to seal free trade deal

2013-05-24 16:17:43 UTC
GENEVA (AP) — Chinese Premier Li Keqiang is in Switzerland to sign a free trade pact with the Alpine nation — the first comprehensive agreement the country has reached with a major western economy. Li met with Swiss officials Friday in Bern, ...

Sears reports bigger-than-expected 1Q loss

2013-05-24 04:53:31 UTC
NEW YORK (AP) — It was another ugly quarter for Sears Holdings Corp. The beleaguered department-store chain reported a steeper-than-expected loss for its first quarter on slumping sales. It also announced that it is considering selling...

Gap back in style as 1Q profit jumps 43 percent

2013-05-24 04:49:48 UTC
NEW YORK (AP) — After years of struggle, Gap is back in style. Gap Inc., which owns The Gap, Old Navy and Banana Republic clothing chains, on Thursday reported a 43 percent jump in its fiscal first-quarter net income, as the company conti...

Big stores nix credit card settlement, file suit

2013-05-24 04:43:54 UTC
NEW YORK (AP) — Some of the country's largest retailers, including Target Corp. and Macy's Inc., on Thursday filed a lawsuit against MasterCard and Visa, rejecting a settlement reached last year over alleged fee-fixing. A larger group of 19 t...

HP's 2Q offers hope even as revenue slump deepens

2013-05-23 04:29:14 UTC
SAN FRANCISCO (AP) — Hewlett-Packard is still scrambling to meet the growing demand for more versatile and less expensive mobile devices as a slump in its personal computer sales deepens, but the company's cost-cutting measures and focus o...

Talk of lies, pride as Trump case goes to jury

2013-05-23 04:22:31 UTC
CHICAGO (AP) — The lawyer for an 87-year-old woman who accuses Donald Trump of cheating her in a skyscraper condo deal told jurors in Chicago on Wednesday that he was personally repulsed because he felt the "Apprentice" star conned his clien...

EU steps up fight against tax evasion by end 2013

2013-05-22 16:59:36 UTC
BRUSSELS (AP) — The European Union's leaders have agreed to push through a major policy to tackle tax evasion by the end of the year. The EU said the 27 heads of state and governments agreed at summit in Brussels Wednesday to an automat...

IRS official to take the 5th at House hearing

2013-05-22 04:55:14 UTC
WASHINGTON (AP) — Summoned by Congress, a key figure in the Internal Revenue Service's targeting of conservative groups plans to invoke her constitutional right against self-incrimination and decline to testify at a congressional hearing on ...

Bernanke testimony to be studied for policy clues

2013-05-22 04:44:03 UTC
WASHINGTON (AP) — When Ben Bernanke testifies about the U.S. economy Wednesday, the Federal Reserve chairman's words will be examined for any clues that the Fed might soon taper — or increase — its support for the economy. The Fed is pu...

Does France have right plan to revive its economy?

2013-05-22 04:41:02 UTC
PARIS (AP) — The man charged with reviving France's shrinking economy and attracting businesses to invest here is gaining a reputation for doing the opposite. As the country's first-ever minister for industrial renewal, Arnaud Montebour...

Japan's trade deficit hits $8.6B due to weaker yen

2013-05-22 04:39:31 UTC
TOKYO (AP) — Japan's trade deficit widened to a larger-than-expected 879.9 billion yen ($8.6 billion) in April as its weakening currency accentuated surging import costs. Exports rose 3.8 percent from the same month a year earlier to 5.78...

Best Buy reports 1Q loss on restructuring costs

2013-05-21 16:57:25 UTC
MINNEAPOLIS (AP) — Best Buy Co. on Tuesday reported a loss in its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores. Its adjusted earnings beat Wall...

Burberry's profit hit by perfume deal's demise

2013-05-21 16:39:35 UTC
LONDON (AP) — British luxury brand Burberry says that the end of a perfume licensing deal depressed its bottom line, dragging net profit down 3 percent for the year ending on March 31. But shares in the Burberry Group PLC rose just over 1 pe...

Vodafone annual profits up 1.9 percent

2013-05-21 16:37:45 UTC
LONDON (AP) — U.K.-based mobile telecoms company Vodafone has reported a 1.9 increase in annual profits despite a slowdown in much of its European operations. It reported Tuesday net profits of 7.70 billion pounds ($11.665 billion) for the ye...

Judge tosses ex-BP executive's obstruction charge

2013-05-21 04:30:59 UTC
NEW ORLEANS (AP) — A federal judge has dismissed a charge that is the backbone of the case against a former BP executive accused of concealing information from Congress about the amount of oil spewing in 2010 from the company's blown-out ...

Ryanair keeps growing, reports record profits

2013-05-20 18:32:57 UTC
DUBLIN (AP) — Ryanair reported record profits Monday as Europe's largest budget airline expanded its route network across the continent and into North Africa. Ryanair's share price also surged to an all-time high after the Dublin-based ca...

Small company stocks take the limelight

2013-05-20 17:39:31 UTC
NEW YORK (AP) — Small companies took the limelight Monday as the stock market extended a rally. The Russell 2000, an index of small-company stocks, rose above 1,000 for the first time. The index is outpacing the Dow Jones industrial avera...

Yahoo takes big leap with $1.1B deal for Tumblr

2013-05-20 18:43:50 UTC
SAN FRANCISCO (AP) — Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet pioneer that had fallen behind the times. The deal announced Monday is Mayer's boldest move since she left G...

'Trek' does $70.6M but falls short of studio hopes

2013-05-19 17:29:13 UTC
LOS ANGELES (AP) — "Star Trek: Into Darkness" has warped its way to a $70.6 million domestic launch from Friday to Sunday, though it's not setting any light-speed records with a debut that's lower than the studio's expectations. The lat...

GM stock rises above $33 for first time in 2 years

2013-05-18 05:20:06 UTC
DETROIT (AP) — Shares of General Motors reached an important milestone on Friday, closing above their initial public offering price of $33 for the first time in more than two years. GM shares reached $33.77 Friday before slipping back t...

A year after IPO, Facebook aims to be ad colossus

2013-05-18 05:17:55 UTC
NEW YORK (AP) — It was supposed to be our IPO, the people's public offering. Facebook, the brainchild of a young CEO who sauntered into Wall Street meetings in a hoodie, was going to be bigger than Amazon, bigger than McDonald's, bigger...