Business News

Tue, May 22, 2012

General Mills to cut about 850 jobs globally

(Reuters) - General Mills Inc said it will cut some 850 jobs worldwide and take other restructuring measures to support growth, the company said on ...

Tue, May 22, 2012

Google closes Motorola deal, names new Motorola CEO

NEW YORK (Reuters) - Google Inc completed its $12.5 billion purchase of Motorola Mobility, and the Web search leader named a new management team ...

Tue, May 22, 2012

FDA staff shoot down Pfizer rare disease drug

WASHINGTON (Reuters) - Drug reviewers recommended on Tuesday rejecting a Pfizer Inc drug because the data did not prove it worked well in treating a ...

Tue, May 22, 2012

Germany, France draw battle lines over eurozone bonds

By Noah Barkin and Leigh Thomas

BERLIN/PARIS (Reuters) - Germany dismissed a French-led call for euro zone nations to issue common bonds, a day ...

Tue, May 22, 2012

India faces mass default and restructuring as devaluation looms

By Jonathan Rogers

SINGAPORE, May 22 (IFR) - India's mounting economic and political woes are prompting market players to raise the specter of a ...

Tue, May 22, 2012

Best Buy results top estimates; outlook maintained

By Dhanya Skariachan

NEW YORK (Reuters) - Best Buy Co Inc reported better-than-expected quarterly results and maintained its outlook for the year as a turnaround ...

Tue, May 22, 2012

Fitch cuts Japan as politics hinders debt plan

By Stanley White

TOKYO (Reuters) - Fitch cut Japan's sovereign credit status on Tuesday to the lowest level among global ratings agencies as a ...

Tue, May 22, 2012

Glencore takes control of Mutanda with $480 million deal

LONDON (Reuters) - Commodities trader Glencore has taken majority control of its fast-growing Mutanda copper operation in Congo with deals worth $480 million, marking the ...

Tue, May 22, 2012

Vodafone makes writedown on European weakness

By Kate Holton

LONDON (Reuters) - Mobile operator Vodafone made a writedown of 4 billion pounds ($6.3 billion) and cut its medium-term sales target ...

Tue, May 22, 2012

IMF tells Britain: Do more to drive growth

By Sven Egenter and Fiona Shaikh

LONDON (Reuters) - Britain must do more to bolster demand and the Bank of England should purchase more assets ...