News

05.06 11:01 BEIJING/SHANGHAI (Reuters) - A little-known Chinese heavy machinery maker could face a bumpy road ahead in its quest to buy General Motors' Hummer brand, facing pitfalls ranging from regulatory to financing issues.

05.06 09:37 HONG KONG (Reuters) - Asian shares, oil and higher-yielding currencies rose on Friday as positive signals from the latest U.S. weekly job data sparked tentative optimism ahead of the crucial monthly employment report.

05.06 08:38 BANGALORE (Reuters) - The Federal Deposit Insurance Corp is aiming at a shake-up of Citigroup Inc's top management, including replacing Chief Executive Vikram Pandit, the Wall Street Journal said, citing people familiar with the matter.

05.06 07:52 HONG KONG (Reuters) - Asian shares, oil and higher-yielding currencies rose on Friday as hopes for a global economic recovery drove up appetite for riskier assets, but traders were cautious ahead of U.S. monthly job data.

05.06 07:44 (Reuters) - The Federal Deposit Insurance Corp is aiming at a shake-up of Citigroup Inc's top management, including replacing Chief Executive Vikram Pandit, the Wall Street Journal said, citing people familiar with the matter.

05.06 07:18 (Reuters) - Dismissing strong objections from JPMorgan Chase and American Express Co executives, U.S. regulators insisted the banks raise equity this week before repaying bail-out funds, the Financial Times reported.

05.06 06:28 MELBOURNE (Reuters) - Global miner Rio Tinto dumped plans for a $19.5 billion tie-up with China's Chinalco and agreed to set up an iron ore joint venture with rival BHP Billiton and sell new shares to slash debt.

05.06 05:31 SYDNEY (Reuters) - Global miners Rio Tinto and BHP Billiton said on Friday they will combine their major Australian iron ore operations, scuppering a $19.5 billion bid by China's Chinalco to secure a stake in Rio and long-term access to its key ore supplies.

05.06 05:18 SAN FRANCISCO (Reuters) - Apple Inc CEO Steve Jobs is on track to return to the company from his medical leave of absence as planned, the Wall Street Journal reported, citing a person who had seen Jobs in recent weeks.

05.06 04:43 NEW YORK (Reuters) - General Motors Corp will give more than $2.5 billion of the $3.6 billion needed for Platinum Equity to gain control of bankrupt car parts supplier Delphi Corp , the Wall Street Journal said, citing a source.

05.06 04:26 SYDNEY (Reuters) - Global miner Rio Tinto scrapped its proposed $19.5 billion tie-up with Chinese firm Chinalco on Friday and instead launched a heavily discounted $15.2 billion right issue.

05.06 02:37 MIAMI (Reuters) - News that Trump Entertainment Resorts terminated the sale of one of its Atlantic City casinos has piqued the interest of two to three "qualified buyers", said the company's chief executive in an interview.

05.06 02:20 LOS ANGELES (Reuters) - The Walt Disney Co, Hearst Corp and NBC Universal are in talks to create a new corporate entity comprising the 10 cable channels the three companies own jointly, including A&E, Lifetime and History.

05.06 02:12 NEW YORK (Reuters) - Bank of America Corp is forcing out Chief Risk Officer Amy Woods Brinkley, after a surge in credit losses led to a government bailout and an order by regulators to raise $33.9 billion of capital.

05.06 01:22 MIAMI (Reuters) - News that Trump Entertainment Resorts terminated the sale of one of its Atlantic City casinos has piqued the interest of two to three "qualified buyers", said the company's chief executive in an interview.

05.06 00:42 NEW YORK (Reuters) - Stocks rose on Thursday as a brokerage's upbeat view on U.S. banks drove a run-up in financials, while soaring prices of oil and other commodities lifted natural resource companies on bets the economic slump is waning.