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Japan shares soar, yen skids after BOJ stuns with more easing steps Friday, October 31, 2014 12:46 am

A pedestrian uses his mobile phone as he walks past an electronic board showing the stock market indices of various countries outside a brokerage in TokyoBy Lisa Twaronite TOKYO (Reuters) - Japanese stocks jumped more than 5 percent and the yen skidded to nearly seven-year lows against the dollar on Friday after the Bank of Japan surprised markets with fresh easing steps that it called a pre-emptive move to stoke inflation. The Nikkei stock average rallied 3.9 percent after Japan's central bank said it would purchase more shares of exchange-traded funds and real estate investment trusts, extend the duration of its portfolio of Japanese government bonds, and increase the pace at which it expands base money to "pre-empt manifestation" of risks. ...


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Citigroup sets aside $600 million more to cover legal costs Thursday, October 30, 2014 7:11 pm

A Citi sign is seen at the Citigroup stall on the floor of the New York Stock ExchangeBy David Henry and Ankur Banerjee (Reuters) - Citigroup Inc said it was setting aside an extra $600 million to cover legal expenses in the third quarter due to "rapidly evolving regulatory inquiries," while also disclosing that it was subject to foreign exchange market probes. Citigroup is one of six major banks that are expected to settle with Britain's Financial Conduct Authority by mid-November over allegations that the banks manipulated foreign exchange markets. The banks are aiming to settle for a total of around 1.5 billion pounds sterling, or $2.42 billion, sources have told Reuters. ...


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Wal-Mart to expand discounts as retail price war heats up Thursday, October 30, 2014 11:16 pm

A Wal-Mart Stores Inc company distribution center in Bentonville(Reuters) - Wal-Mart Stores Inc said it will expand its offering of discounted products during the holiday season and may broaden a price-matching scheme to include online rivals, in the latest sign of an escalating price war among big U.S. retailers. Wal-Mart said it was bracing for competition to be as tough or tougher than in 2013, when heavy discounting depressed earnings across the industry. Wal-Mart's profits dropped in the holiday quarter last year and it has posted six straight quarters of flat or declining same-store sales. ...


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Starbucks Americas sales disappoint on softer traffic Thursday, October 30, 2014 5:20 pm

Pedestrians walk past a Starbucks store in the Manhattan borough of New York(Reuters) - Starbucks Corp's early re-launch of its popular Pumpkin Spice latte drink failed to heat up business at its U.S. cafes, disappointing Wall Street and sending the company's shares down almost 5 percent. The world's biggest coffee chain said a 1 percent increase in traffic contributed to a 5 percent gain in sales for Americas-region cafes open at least 13 months. But that result fell short of the 6.2 percent same-store sales gain expected by analysts polled by Consensus Metrix. The U.S.-dominated Americas region contributes the majority of Starbucks revenue. ...


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Hiring business drives LinkedIn's revenue beat Thursday, October 30, 2014 6:10 pm

The logo for LinkedIn Corporation, a social networking networking website for people in professional occupations, is shown in Mountain ViewBy Arathy S Nair and Lehar Maan (Reuters) - Corporate networking site LinkedIn Corp reported better-than-expected quarterly profit and revenue as more businesses used its services to hire staff. The company's hiring business has been thriving as employers find its services more helpful in assessing a candidate's suitability for a role. Strong growth in the hiring business and rapid expansion in international markets such as China are considered by analysts to be the main growth drivers for the company in the next few quarters. ...


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