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  • US new-home sales drop 14.5 per cent in March; worst sales rate in 8 months
    U.S. new-home sales drop 14.5 per cent in March; worst sales rate in 8 months

    WASHINGTON - The number of Americans buying new homes plummeted in March to the slowest pace in eight months, a sign that real estate's spring buying season is off to a weak start.

    US new-home sales drop 14.5 per cent in March; worst sales rate in 8 months

    WASHINGTON - The number of Americans buying new homes plummeted in March to the slowest pace in eight months, a sign that real estate's spring buying season is off to a weak start.

  • U.S., euro zone activity up; China decline slows

    By Rodrigo Campos and Jonathan Cable NEW YORK/LONDON (Reuters) - The U.S. manufacturing sector expanded in April and the euro zone private sector started the second quarter on its strongest footing since …

    Employees work on the production line of a wine bottle cap factory in Ganyu county

    By Rodrigo Campos and Jonathan Cable NEW YORK/LONDON (Reuters) - The U.S. manufacturing sector expanded in April and the euro zone private sector started the second quarter on its strongest footing since 2011, while the pace of decline in Chinese factory activity slowed, surveys showed on Wednesday. Financial data firm …

  • Allergan launches shareholder rights plan in attempt to stave off takeover

    Canada's Valeant Pharmaceuticals International Inc said on Tuesday it and activist investor Bill Ackman made an unsolicited $47 billion bid to buy Botox maker Allergan Inc as it seeks to become one of …

    A sample of Botox is seen at the Long Island Plastic Surgical Group at the Americana Manhasset luxury shopping destination in Manhasset

    Canada's Valeant Pharmaceuticals International Inc said on Tuesday it and activist investor Bill Ackman made an unsolicited $47 billion bid to buy Botox maker Allergan Inc as it seeks to become one of the world's five biggest drug companies. The offer, if successful, would bring together two mid-sized pharmaceutical companies …

  • Toyota sells 2.58 million vehicles globally in Q1, outpacing GM, VW

    TOKYO - Toyota kept its position at the top in global vehicle sales for the first quarter of this year, outpacing rivals General Motors and Volkswagen.

    People look at a Toyota car during the 15th Shanghai International Automobile Industry Exhibition in Shanghai

    TOKYO - Toyota kept its position at the top in global vehicle sales for the first quarter of this year, outpacing rivals General Motors and Volkswagen.

  • Wal-Mart to report how compliance targets impacted executive pay: WSJ

    (Reuters) - Wal-Mart Stores Inc is set to report as soon as Wednesday on how its executives performed on their goals to overhaul compliance operations and how that affected their pay, the Wall Street Journal …

    A man stands on a skateboard outside a Wal-Mart store in Williston

    (Reuters) - Wal-Mart Stores Inc is set to report as soon as Wednesday on how its executives performed on their goals to overhaul compliance operations and how that affected their pay, the Wall Street Journal reported. The company's board will issue a securities filing in the coming days that will detail how well executives …

  • CN, CP Rail profits could leave sour taste for farmers

    Canada's two largest railroads reported stronger-than-expected profits on Tuesday, results that could prompt fresh criticism from farmers already unhappy with the handling of a massive crop backlog during …

    File photo of rail cars loaded with Canadian wheat in the Rocky Mountains on the Canadian Pacific railway line near Banff, Alberta

    Canada's two largest railroads reported stronger-than-expected profits on Tuesday, results that could prompt fresh criticism from farmers already unhappy with the handling of a massive crop backlog during one of the harshest winters in decades. Canadian Pacific Railway Ltd and Canadian National Railway Co have come under …

  • GM seeks U.S. court protection against ignition lawsuits

    Plaintiffs suing the company also filed a proposed class action lawsuit in Manhattan bankruptcy court on Monday, seeking an order declaring that GM cannot use the bankruptcy protection to absolve itself …

    A General Motors logo is seen on a Denali vehicle for sale at the GM dealership in Carlsbad

    Plaintiffs suing the company also filed a proposed class action lawsuit in Manhattan bankruptcy court on Monday, seeking an order declaring that GM cannot use the bankruptcy protection to absolve itself from liabilities. The faulty ignition switch has been linked to at least 13 deaths and the recall of 2.6 million GM vehicles. …

  • Novartis reshapes business via multi-billion dollar deals with GSK and Lilly

    By Caroline Copley and Paul Sandle ZURICH/LONDON (Reuters) - Novartis and GlaxoSmithKline agreed to trade more than $20 billion worth of assets on Tuesday to bolster their best businesses and exit weaker …

    Logo of Swiss drugmaker Novartis is seen at its headquarters in Basel

    By Caroline Copley and Paul Sandle ZURICH/LONDON (Reuters) - Novartis and GlaxoSmithKline agreed to trade more than $20 billion worth of assets on Tuesday to bolster their best businesses and exit weaker ones as the drug industry contends with healthcare spending cuts and generic competition. The deals, which include …

  • Citigroup's leaders say company needs to simplify itself

    By David Henry ST. LOUIS (Reuters) - The two men at the top of Citigroup Inc , the third-biggest U.S. bank and the most international, acknowledged on Tuesday that the company must do more to simplify …

    A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange

    By David Henry ST. LOUIS (Reuters) - The two men at the top of Citigroup Inc , the third-biggest U.S. bank and the most international, acknowledged on Tuesday that the company must do more to simplify itself. Asked at an annual meeting of shareholders whether Citigroup is too big to manage, Chairman Mike O'Neill said …

  • Yum Brands' China restaurant sales improve, shares rise

    (Reuters) - KFC parent Yum Brands Inc on Tuesday said first-quarter sales at established restaurants in China, its top market, rose 9 percent as it recovers from an avian flu outbreak and a food safety …

    A view shows Yum Brands Inc's corporate headquarters in Louisville

    (Reuters) - KFC parent Yum Brands Inc on Tuesday said first-quarter sales at established restaurants in China, its top market, rose 9 percent as it recovers from an avian flu outbreak and a food safety scare that pummeled demand for chicken last year. Shares in the company, which gets more than half of its sales from China, …

  • Senator Blumenthal wants to quiz former GM CEOs on recalls

    Former General Motors Co chief executives should be called to testify to the Congress about the company's slow response to defective ignition switches in cars that have been linked to at least 13 deaths, …

    Former General Motors Co chief executives should be called to testify to the Congress about the company's slow response to defective ignition switches in cars that have been linked to at least 13 deaths, a Democratic senator said on Tuesday. Senator Richard Blumenthal of Connecticut, an outspoken member of the Senate Commerce …

  • JetBlue pilots vote to join union; shares fall

    (Reuters) - JetBlue Airways Corp pilots voted by a wide margin on Tuesday to join the Air Line Pilots Association union, sending the budget carrier's stock price down on concerns the move would raise the …

    Customers wait in line at the Jet Blue Terminal at JFK airport in New York

    (Reuters) - JetBlue Airways Corp pilots voted by a wide margin on Tuesday to join the Air Line Pilots Association union, sending the budget carrier's stock price down on concerns the move would raise the airline's costs. About 71 percent of the pilots eligible to vote in the month-long election backed ALPA. JetBlue has …

  • CN Rail profit rises despite challenging winter

    Canadian National Railway Co , the country's biggest railroad, reported first-quarter earnings that topped expectations on Tuesday and reaffirmed its 2014 financial outlook, even as an extremely cold winter …

    Canadian National Railway Co , the country's biggest railroad, reported first-quarter earnings that topped expectations on Tuesday and reaffirmed its 2014 financial outlook, even as an extremely cold winter hampered operations. Adjusted earnings per share were 66 Canadian cents, compared with 61 Canadian cents in the year-ago …

  • Former head of U.S. Fed Reserve says U.S. economy on path to recovery

    TORONTO - Former Federal Reserve chairman Ben Bernanke says he believes the U.S. economy is heading towards a recovery from the crippling downturn of the 2008-09 financial crisis.

    Former head of U.S. Fed Reserve says U.S. economy on path to recovery

    TORONTO - Former Federal Reserve chairman Ben Bernanke says he believes the U.S. economy is heading towards a recovery from the crippling downturn of the 2008-09 financial crisis.

  • Citigroup's leaders say company is still too complex

    By David Henry ST. LOUIS (Reuters) - The two men at the top of Citigroup Inc , the third-biggest U.S. bank and the most international, acknowledged on Tuesday that the company must do more to simplify …

    A Citi sign is seen at the Citigroup stall on the floor of the New York Stock Exchange

    By David Henry ST. LOUIS (Reuters) - The two men at the top of Citigroup Inc , the third-biggest U.S. bank and the most international, acknowledged on Tuesday that the company must do more to simplify itself. Asked at an annual meeting of shareholders whether Citigroup is too big to manage, Chairman Mike O'Neill said …

  • Xerox cuts 2014 adjusted profit forecast as spending rises

    (Reuters) - Xerox Corp cut its full-year earnings forecast as growth stalled in its services business and margins contracted due to higher investment on U.S. health insurance exchange platforms, sending …

    (Reuters) - Xerox Corp cut its full-year earnings forecast as growth stalled in its services business and margins contracted due to higher investment on U.S. health insurance exchange platforms, sending its shares down about 5 percent in premarket trading. Xerox forayed into the services business with its $5.5 billion …

  • How income inequality can lead to more financial crises

    Economist Thomas Piketty, author of the new book "Capital in the Twenty-First Century," explains how growing inequality can lead to more financial crises.

    A man receives a meal at a Good Friday Easter event sponsored by the Los Angeles Mission to help the homeless and near-homeless of Skid Row in Los Angeles, California.

    Economist Thomas Piketty, author of the new book "Capital in the Twenty-First Century," explains how growing inequality can lead to more financial crises.

  • M&A talk lifts European shares, euro dips to two-week low

    By Marius Zaharia LONDON (Reuters) - M&A talk in the pharmaceutical sector lifted European shares on Tuesday, but failed to support the euro, which dipped to a two-week low against the dollar as ECB policymakers …

    A man smokes a cigarette outside The London Stock Exchange

    By Marius Zaharia LONDON (Reuters) - M&A talk in the pharmaceutical sector lifted European shares on Tuesday, but failed to support the euro, which dipped to a two-week low against the dollar as ECB policymakers renewed efforts to weaken it. Meanwhile, investors continued to see tensions in Ukraine as a threat to riskier …

  • Teck Resources to cut five percent of its workforce as profit drops

    (Reuters) - Diversified Canadian miner Teck Resources Ltd said it would cut about 600 jobs, or 5 percent of its global workforce, after a sharp fall in earnings and revenue in the first quarter. Teck's …

    Teck Resources maintient ses tests aléatoires malgré un jugement de la Cour suprême

    (Reuters) - Diversified Canadian miner Teck Resources Ltd said it would cut about 600 jobs, or 5 percent of its global workforce, after a sharp fall in earnings and revenue in the first quarter. Teck's net profit fell 78.4 percent to C$69 million ($62.62 million), or 12 Canadian cents per share, in the three months to …

  • U.S. business lobby says market access concerns in China growing

    By Michael Martina BEIJING (Reuters) - Multinational firms are planning to invest less in China because of market access barriers and slowing growth in the world's second-largest economy, a U.S. business …

    Businessmen walk on the Bund near the Huangpu River in front of the financial district of Pudong in Shanghai

    By Michael Martina BEIJING (Reuters) - Multinational firms are planning to invest less in China because of market access barriers and slowing growth in the world's second-largest economy, a U.S. business lobby said on Tuesday. China's economy expanded 7.4 percent year-on-year in the January-March quarter, its slowest …