KSBI - Business News

Wall Street falls on HP forecast, worrisome data

NEW YORK (Reuters) - Stocks fell on Tuesday, as a disappointing outlook from Hewlett-Packard Co and another batch of soft U.S. data added to growing trepidation about the economy's strength.

Penney make-over boosts profit

NEW YORK (Reuters) - J.C. Penney Co Inc's efforts to remake itself as a more fashionable chain and raise profitability by shedding weak units paid off in the first quarter and the retailer raised its full-year profit forecast.

Starbucks exec says coffee prices to fall

ZURICH (Reuters) - Starbucks has stopped buying coffee for the moment as it waits for coffee prices to pull back from a 34-year high, John Culver, president of Starbucks Coffee International, was quoted on Friday as saying.

Dow Chemical shareholders OK CEO's $21.3 million pay

NEW YORK (Reuters) - Dow Chemical Co shareholders overwhelmingly approved a $21.3 million pay package for Chief Executive Andrew Liveris at the annual meeting on Thursday.

AIG sets $9 billion stock offer, half of expected

NEW YORK (Reuters) - American International Group and the U.S. Treasury said on Wednesday they will sell just under $9 billion in AIG stock, suggesting the government's exit from its crisis-era investment will be more difficult than originally thought.

China offers concession on key U.S. trade irritant

WASHINGTON (Reuters) - China on Tuesday pledged to make it easier for U.S. companies to win Chinese government contracts, addressing a long-standing complaint of foreign corporations seeking a piece of the fast-growing market.

Wall Street gains following snap back in commodities

NEW YORK (Reuters) - Stocks rose on Monday as commodity-related shares rebounded, but worries remained over how much further the recent rally may continue.

Goldman Sachs CEO Blankfein says he won't resign

JERSEY CITY, New Jersey (Reuters) - Goldman Sachs Group Inc Chairman and Chief Executive Lloyd Blankfein said he is not stepping down, despite media reports that he has plans to resign.

Oil plummets 8 percent as commodities battered

NEW YORK (Reuters) - Oil plunged more than 8 percent on Thursday, heading for the third biggest daily drop in dollar terms on record, as concerns about economic growth and monetary tightening spurred a sell-off in commodities.

Applied Materials to buy Varian Semi for $4.9 billion

SAN FRANCISCO/BANGALORE (Reuters) - Chip tool maker Applied Materials will buy Varian Semiconductor Equipment Associates Inc for $4.9 billion in cash as it looks to meet rising demand from smartphone and solar equipment manufacturers.