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  • File photo of a screen displaying the trading price for Bank of America and Black Rock stocks on the floor of the New York Stock Exchange
    BlackRock's first-quarter profit rises 20 percent

    By Ashley Lau NEW YORK (Reuters) - BlackRock Inc , the world's largest money manager, said on Thursday its first-quarter profit rose 20 percent, boosted by strong performance fees and strength in its …

    File photo of a screen displaying the trading price for Bank of America and Black Rock stocks on the floor of the New York Stock Exchange

    By Ashley Lau NEW YORK (Reuters) - BlackRock Inc , the world's largest money manager, said on Thursday its first-quarter profit rose 20 percent, boosted by strong performance fees and strength in its retail business as investors poured money into long-term funds. "Even with all of the turmoil in the markets that we saw …

  • U.S. jobless claims rise less than expected

    The number of Americans filing new claims for unemployment benefits rose less than expected last week and remained near its pre-recession levels, offering further evidence of the economy's underlying strength. …

    Corporate recruiters gesture and shake hands as they talk with job seekers at a Hire Our Heroes job fair targeting unemployed military veterans and sponsored by the Cable Show, a cable television industry trade show in Washington

    The number of Americans filing new claims for unemployment benefits rose less than expected last week and remained near its pre-recession levels, offering further evidence of the economy's underlying strength. Initial claims for state unemployment benefits ticked up 2,000 to a seasonally adjusted 304,000 for the week ended …

  • GSK, facing bribery claims, battles to build new sales model

    Following a decision to cut commercial ties with outside doctors, GSK expects to increase its in-house team of physicians by 10-20 percent over the next year or so from around 1,500 at present, Chief Medical …

    The GlaxoSmithKline building is pictured in Hounslow, west London

    Following a decision to cut commercial ties with outside doctors, GSK expects to increase its in-house team of physicians by 10-20 percent over the next year or so from around 1,500 at present, Chief Medical Officer James Shannon told Reuters. GSK is now investigating claims that bribes were paid to doctors in Poland, …

  • Google still top pick for Wall Street, despite mobile ad challenges

    Google Inc's disappointing first-quarter results left Wall Street unfazed about the internet giant's ability to come to grips with a shift to the fast-growing mobile advertising market. Google shares …

    A Google logo is seen at the entrance to the company's offices in Toronto

    Google Inc's disappointing first-quarter results left Wall Street unfazed about the internet giant's ability to come to grips with a shift to the fast-growing mobile advertising market. Google shares were down 2 percent in premarket trading on Thursday and at least 12 brokerages cut their target price on the stock. "Despite …

  • German, Japanese carmakers cash in on Korea-U.S. trade deal: data

    By Hyunjoo Jin SEOUL (Reuters) - Japanese and German automakers are benefiting more than their U.S. peers from a free trade deal between Washington and Seoul, according to import figures suggesting U.S. …

    By Hyunjoo Jin SEOUL (Reuters) - Japanese and German automakers are benefiting more than their U.S. peers from a free trade deal between Washington and Seoul, according to import figures suggesting U.S. brands are not reaping the rewards they may have expected from the pact. U.S. automakers are battling a perception that …

  • Chinese auto brands losing ground to aggressive global rivals

    BEIJING, China - China's automakers are the underdogs heading into next week's Beijing auto show, where foreign and domestic brands will jostle for attention in a market that is increasingly difficult …

    Chinese auto brands losing ground to aggressive global rivals

    BEIJING, China - China's automakers are the underdogs heading into next week's Beijing auto show, where foreign and domestic brands will jostle for attention in a market that is increasingly difficult ...

  • China economy stronger than data suggests: government

    By Aileen Wang and Adam Rose BEIJING (Reuters) - China's economy is doing better than official data suggests, the Commerce Ministry said a day after figures showed growth at an 18-month low, adding that …

    A man fishes next to a lake with the reflection of newly-built residential buildings at a park in Shenyang

    By Aileen Wang and Adam Rose BEIJING (Reuters) - China's economy is doing better than official data suggests, the Commerce Ministry said a day after figures showed growth at an 18-month low, adding that targets for exports and imports this year should be met despite some caution over the trade outlook. Ministry spokesman …

  • Citi received mixed signals from the Fed on 'stress test': WSJ

    (Reuters) - The Federal Reserve indicated to Citigroup Inc that the bank would get more time to fix certain "stress test" planning problems before rejecting its capital plan last month, the Wall Street …

    A Citibank sign on bank branch in midtown Manhattan in New York

    (Reuters) - The Federal Reserve indicated to Citigroup Inc that the bank would get more time to fix certain "stress test" planning problems before rejecting its capital plan last month, the Wall Street Journal reported, citing people close to the company. The Fed had agreed to give Citigroup a 2015 deadline to address …

  • GM faced a Cadillac ignition switch issue in 2006

    By Paul Lienert and Eric Beech DETROIT/WASHINGTON (Reuters) - General Motors engineers reported accidentally turning off ignition switches in a Cadillac SRX with their knees more than eight years ago, …

    The General Motors logo is seen outside its headquarters at the Renaissance Center in Detroit

    By Paul Lienert and Eric Beech DETROIT/WASHINGTON (Reuters) - General Motors engineers reported accidentally turning off ignition switches in a Cadillac SRX with their knees more than eight years ago, and they ordered a similar fix to a similar problem in smaller, cheaper cars linked to 13 deaths, according to documents …

  • Canadians bid farewell to Jim Flaherty, former finance minister

    By Cameron French TORONTO (Reuters) - Canada's political elite and hundreds of well-wishers paid final respects to former Finance Minister Jim Flaherty at a state funeral on Wednesday, with Prime Minister …

    Canada's Finance Minister Flaherty speaks during Question Period in the House of Commons on Parliament Hill in Ottawa

    By Cameron French TORONTO (Reuters) - Canada's political elite and hundreds of well-wishers paid final respects to former Finance Minister Jim Flaherty at a state funeral on Wednesday, with Prime Minister Stephen Harper depicting Flaherty as a man who put his own needs aside in the service of his country. Flaherty's death …

  • Former Bridgestone exec to plead guilty to price fixing: U.S. Justice Dept

    A former sales manager for Bridgestone Corp <5108.T> has agreed to plead guilty and serve 18 months in prison for participating in a conspiracy to fix the prices of rubber anti-vibration devices used in …

    Pedestrians are reflected in a signboard of Bridgestone Corp. at its headquarters in Tokyo

    A former sales manager for Bridgestone Corp <5108.T> has agreed to plead guilty and serve 18 months in prison for participating in a conspiracy to fix the prices of rubber anti-vibration devices used in automotive suspension systems and engine mounts, the Justice Department said on Wednesday. In a separate action involving …

  • ADVISORY: ‘Bank of America in talks with US on probe of Merrill' is withdrawn

    The information reported in the story "Bank of America in talks with US on probe of Merrill" was previously disclosed in a filing by Bank of America.

    People use an ATM at a Bank of America's branch in New York

    The information reported in the story "Bank of America in talks with US on probe of Merrill" was previously disclosed in a filing by Bank of America.

  • U.S. industry shows some vigor, but housing soft

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. industrial production rose at a faster-than-expected clip in March, the latest sign the economy was gaining momentum. Groundbreaking for new homes also increased …

    Workers install a roof on a multi-family building in Broomfield

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. industrial production rose at a faster-than-expected clip in March, the latest sign the economy was gaining momentum. Groundbreaking for new homes also increased but remained well below the post-recession peak hit in November, signaling the drag the housing market is placing …

  • Yamana, Agnico reach C$3.9 billion deal with Osisko to thwart Goldcorp takeover bid

    By Allison Martell and Euan Rocha TORONTO (Reuters) - Canada's Osisko Mining Corp said on Wednesday it has reached a C$3.9 billion ($3.6 billion) deal to sell most of its assets to Yamana Gold Inc and …

    By Allison Martell and Euan Rocha TORONTO (Reuters) - Canada's Osisko Mining Corp said on Wednesday it has reached a C$3.9 billion ($3.6 billion) deal to sell most of its assets to Yamana Gold Inc and Agnico Eagle Mines Ltd as it battles to thwart a hostile takeover bid from Goldcorp Inc , one of the world's biggest gold …

  • China's growth slows to 7.4 per cent in Q1, raising risk of job losses

    BEIJING, China - China's economic growth slowed further in the latest quarter but appeared strong enough to satisfy Chinese leaders who are trying to put the country on a more sustainable path without …

    China's growth slows to 7.4 per cent in Q1, raising risk of job losses

    BEIJING, China - China's economic growth slowed further in the latest quarter but appeared strong enough to satisfy Chinese leaders who are trying to put the country on a more sustainable path without ...

  • Defunct bitcoin exchange Mt. Gox files for liquidation: report

    Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business, the court-appointed administrator said on Wednesday. …

    Mark Karpeles, chief executive of Mt. Gox, attends a news conference at the Tokyo District Court in Tokyo

    Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business, the court-appointed administrator said on Wednesday. CEO Mark Karpeles is also likely to be investigated for liability in the collapse of the Tokyo-based firm, the …

  • GM to seek court protection against ignition lawsuits

    GM has said it is protected from liability for claims related to incidents that occurred before it exited bankruptcy in 2009, and has taken steps to raise those issues with the court by filing motions …

    A man walks past a row of General Motors vehicles at a Chevrolet dealership on Woodward Avenue in Detroit, Michigan

    GM has said it is protected from liability for claims related to incidents that occurred before it exited bankruptcy in 2009, and has taken steps to raise those issues with the court by filing motions to stay recall-related lawsuits while it asks that bankruptcy court to clarify the extent of that protection. In a filing …

  • Global shares up on China relief, Ukraine strains remain

    By Marc Jones LONDON (Reuters) - Share markets made broad gains on Wednesday after China reported economic growth a touch above forecasts, a relief for investors who had feared a much weaker outcome. …

    A man smokes a cigarette outside The London Stock Exchange

    By Marc Jones LONDON (Reuters) - Share markets made broad gains on Wednesday after China reported economic growth a touch above forecasts, a relief for investors who had feared a much weaker outcome. China's economy grew 7.4 percent in the first quarter, from a year earlier, pipping forecasts of 7.3 percent. The relief …

  • BOJ's Kuroda maintains positive view on economy

    By Leika Kihara TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda on Wednesday affirmed the central bank's upbeat view of the economy, even as global financial markets wobble, stressing that growth …

    Bank of Japan Governor Kuroda gestures as he listens to questions during a news conference at the BOJ headquarters in Tokyo

    By Leika Kihara TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda on Wednesday affirmed the central bank's upbeat view of the economy, even as global financial markets wobble, stressing that growth will pick up around mid-year as the sting of a sales tax hike fades. Price rises will broaden as the economy continues …

  • Alibaba's growth accelerates, U.S. IPO filing expected next week

    By Edwin Chan SAN FRANCISCO (Reuters) - Alibaba Group Holding Ltd's revenue growth accelerated in the last quarter of 2013, a timely lift for the Chinese Internet company as it prepares to file a prospectus …

    File photo of an employee walking past a logo of Alibaba Group at its headquarters on the outskirts of Hangzhou

    By Edwin Chan SAN FRANCISCO (Reuters) - Alibaba Group Holding Ltd's revenue growth accelerated in the last quarter of 2013, a timely lift for the Chinese Internet company as it prepares to file a prospectus next week for its highly anticipated initial public offering. Alibaba is expected to file prospectus for the share …