Volatile Nikkei keeps Asian stocks on edge

By Ian Chua SYDNEY (Reuters) - Asian stocks fell to one-month lows on Friday and the yen rebounded broadly as extreme volatility in the Nikkei kept investors on edge. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.4 percent and reached levels not seen since April 19, extending Thursday's 2.2 percent fall. Australian shares underperformed, sliding 1.6 percent. "There's a lot of

Procter & Gamble brings back former CEO to fix company

By Jessica Wohl (Reuters) - Procter & Gamble Co on Thursday brought back A.G. Lafley to run the world's largest household products maker, replacing Bob McDonald immediately in the midst of a major restructuring. Lafley is taking on the roles of chairman, president and chief executive officer, effective immediately, while McDonald is set to retire on June 30 after 33 years at P&G. The move comes

Google faces new federal antitrust probe: source

WASHINGTON (Reuters) - U.S. regulators are in the early stages of an antitrust probe into whether Google Inc, the top player in Web display advertising, breaks antitrust law in how it handles some advertising sales, a source told Reuters on Thursday. The source said that it was unlikely that the Federal Trade Commission had sent out civil investigative demands in relation to the probe, which wou

Icahn seeks up to $7 billion for Dell bid

By Michelle Sierra NEW YORK (Reuters) - Activist investor Carl Icahn and Southeastern Asset Management Inc have initiated talks with banks and asset managers to line up commitments for as much as $7 billion in bridge loans to back their leveraged recapitalization proposal for Dell Inc, banking sources told Thomson Reuters LPC on Thursday. Jefferies & Co is leading the deal. Icahn and Southeaster

Private consumption helps German economy to meager growth

By Sarah Marsh BERLIN (Reuters) - Robust private consumption helped Germany eke out meager growth in the first quarter, compensating for declines in both exports and investment, and is likely to remain a pillar of support for Europe's largest economy this year. Germany's gross domestic product (GDP) rose by 0.1 percent on the quarter and shrank by 1.4 percent on the year, final seasonally adjust

Wall Street sags, but ends off session lows; HP hits 52-week high

By Angela Moon NEW YORK (Reuters) - Stocks slipped on Thursday but finished sharply off their session lows as a rally in Hewlett-Packard's shares offset worries about weak Chinese manufacturing data and the prospects of the Federal Reserve reducing its monetary stimulus. Trading was choppy as many traders were adjusting their positions ahead of the long holiday weekend. Markets will be closed on

Sears losses mount, weighs sale of unit to shore up liquidity

By Siddharth Cavale (Reuters) - U.S. retailer Sears Holdings cast bigger doubts on the progress of its turnaround after reporting a bigger-than-expected quarterly loss, hurt by cooler spring weather. Shares of the company, which also said it was considering selling its service contracts business, fell 12 percent to $51.41 in heavy trading after the bell. The disappointing results came just month

Salesforce.com's quarterly results disappoint Wall Street

By Noel Randewich (Reuters) - Salesforce.com Inc's quarterly earnings and outlook disappointed investors as costs rise following a spree of acquisitions, sending its shares lower. Under Marc Benioff, Salesforce's CEO and founder, the company's fast revenue growth has made it a favorite with investors eager to own part of the growing trend among businesses to outsource their information technolog

Goldman unveils checks on conflicts in bid to fix image

By Lauren Tara LaCapra SALT LAKE City (Reuters) - After dozens of meetings with executives and regulators, 100,000 hours of employee training and an immeasurable amount of public grief, Goldman Sachs Group Inc's Lloyd Blankfein claimed success in putting the bank and his legacy as CEO back on track. At Goldman's annual meeting on Thursday, Blankfein unveiled details of a three-year review and ov

Former Goldman banker settles SEC 'pay-to-play' charges

By Lisa Lambert and Jonathan Stempel WASHINGTON/CHICAGO (Reuters) - A former Goldman Sachs Group Inc. investment banker has agreed to a five-year securities industry ban and a record fine to settle Securities and Exchange Commission charges that he broke rules against influence peddling to win bond underwriting business in Massachusetts. Without admitting or denying wrongdoing, Neil Morrison, 38,

Stocks edge lower as investors reassess Fed fears

NEW YORK (AP) — Investors recovered their poise after a shaky start to trading on Wall Street that sent stocks sharply lower.

Between economy and trouble, Obama approval steady

WASHINGTON (AP) — The economy is recovering, the White House is dealing with multiple controversies, and President Barack Obama appears generally unaffected either way.

Sears reports bigger-than-expected 1Q loss

NEW YORK (AP) — It was another ugly quarter for Sears Holdings Corp.

Japan's PM Abe defends policies as markets settle

TOKYO (AP) — Japan's top leaders are defending the economic strategies championed by Prime Minister Shinzo Abe, though the central bank chief acknowledged a need for better communication with financial markets, a day after Tokyo shares suffered their worst loss since the 2011 tsunami disaster.

Asia stocks extend losses after big sell-off

BANGKOK (AP) — Asian stocks continued to retreat Friday after being routed the day before by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary stimulus.

Survey: German consumer confidence rises strongly

BERLIN (AP) — A survey is showing a significant rise in German consumer confidence as people's expectations for the economy and for their own income improve.

Stricken Japan nuke plant struggles to keep staff

TOKYO (AP) — Keeping the meltdown-stricken Fukushima nuclear plant in northeastern Japan in stable condition requires a cast of thousands. Increasingly the plant's operator is struggling to find enough workers, a trend that many expect to worsen and hamper progress in the decades-long effort to safely decommission it.

Procter & Gamble brings back A.G. Lafley as CEO

NEW YORK (AP) — Procter & Gamble Co. is bringing back its former CEO, as the world's largest consumer-products maker tries to spur global growth.

Gap back in style as 1Q profit jumps 43 percent

NEW YORK (AP) — After years of struggle, Gap is back in style.

Turkey passes bill restricting alcohol sales, ads

ANKARA, Turkey (AP) — Turkey's parliament has passed legislation to ban all advertising of alcohol and tighten restrictions on sales in the mainly Muslim but secular country.

Photos: Frank Lloyd Wright Homes For Sale

Frank Lloyd Wright may have died in 1959, but his architecture is alive and well. A recent story in the Wall Street Journal revealed the cost to upkeep some of his historic homes may be more than buyers bargain for, but others clamor to invest in history.

Martha Stewart Case Judge Ruling Favors JCP

The judge presiding over the lawsuit against Martha Stewart and J.C. Penney ruled on Friday allowing the sale of Martha Stewart merchandise in J.C. Penney stores.

Couple Finds $100,000 in Safe Deposit Box

An elderly couple in Brooklyn, N.Y., found a huge pile of cash–what they reckon was $100,000–in cash in a bank’s safe deposit box. Joe Valinoti, 82, and his companion, Kathleen Ricigliano, 81, said they opened a safe deposit box account with Sovereign Bank in February....

3 Indicted for Millions of Fake Marlboros

Three men were indicted this week for shipping millions of packs of untaxed contraband Marlboro cigarettes that were part of a sting conducted by the FBI. Jia Yongming, Yazhou Wu, and Ricky Le were indicted by the U.S. Attorney’s Office on Monday in a U.S....

Men Charged for Millions of Fake Marlboros

Three men were indicted this week for shipping millions of packs of untaxed contraband Marlboro cigarettes that were part of a sting conducted by the FBI. Jia Yongming, Yazhou Wu, and Ricky Le were indicted by the U.S. Attorney’s Office on Monday in a U.S....

Holy Grail of Books Could Fetch $30M

A rare psalm book from 1640 could fetch between $15 million to $30 million at a Sotheby’s auction on Nov. 26 in New York. “It’s going to be far and away the most expensive book ever sold,” David Redden, vice chairman of Sotheby’s auction house,...

Holy Grail of Rare Books, Hymnal Could Fetch $30M

A rare psalm book from 1640 could fetch between $15 million to $30 million at a Sotheby’s auction on Nov. 26 in New York. “It’s going to be far and away the most expensive book ever sold,” David Redden, vice chairman of Sotheby’s auction house,...

McDonald's Apologizes for Sad Big Mac Ad

McDonald’s has apologized for a Big Mac ad that enflamed the fast food giant in a whopper-sized controversy. The ad, a poster placed on Boston mass transit, featured a photo of a seemingly despondent woman with her head buried in her hands next to the...

Retail Sales Fall, Sending Stocks Down

Retail sales fell by 0.4 percent in March, according to the Commerce Department, the biggest drop in nine months. The major stock market indexes slid on the news. Taxes went up at the beginning of the year for everyone who gets a paycheck and that...

Photos: Rock Icon's Former Home on Sale

A former home of rock legend Stevie Nicks and silent-movie star Vilma Banky is on sale for $1.625 million. The 4-bedroom home in the Hollywood Hills has a guest apartment, sunset views and spans 3,538-square feet. Nicks purchased the property in the late '70s and recorded numerous demos there, according to Curbed. Banky reportedly lived there after it was built in the late '20s. The home was last