European stocks broadly lower ahead of earnings; Dax down 0.32%

Investing.com - European stocks were broadly lower on Tuesday, as markets were jittery ahead of upcoming earnings reports, although upbeat German trade data lent support, as well as comments made by European Central Bank Vice President Benoit Coeure over the weekend. During European morning trade, the DJ Euro Stoxx 50 fell 0.24%, France’s CAC 40 edged down 0.15%, while Germany’s DAX slid 0.32%. Official data earlier showed that Germay''s trade surplus widened to €18.8 billion in May, from €17.2 billion in April whose figure was revised down...

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Cupcake Shop Crumbs Shuttering All Its Stores

rumbs says it is shuttering all its stores, a week after the struggling cupcake shop operator was delisted from the Nasdaq. The New York City-based company said all employees were notified of the closures Monday. A representative for Crumbs could not immediately say how many workers were affected or how many stores it had remaining on its last day. "Regrettably Crumbs has been forced to cease operations and is immediately attending to the dislocation of its employees while it evaluates its limited remaining options," the company said in an emailed...

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Dollar falls against yen, Fed minutes in focus

A money changer holds stacks of US dollar notes in Jakarta, August 29, 2013. The dollar weakened on Monday against the Japanese yen as investors continued to digest last week’s strong U.S. employment report and speculated about when the Federal Reserve is likely to begin raising U.S. interest rates. The yen gained as long-dated U.S. Treasuries rallied, stemming a week-long bond selloff heading into Thursday's employment report, which showed...

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German industrial output posts surprise slump in May

Rolls of wire are seen at the plant of German steel company Arcelor Mittal in Duisburg April 19, 2013. Germany's industrial output fell 1.8 percent on the month in May, its biggest drop in more than two years, as holiday days ate into working hours, construction slumped and geopolitics weighed, casting a shadow on its role as euro zone motor. The drop was a surprise and sent the euro weaker - the consensus forecast in a Reuters poll...

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German Industrial Output Falls in Sign of Slower Growth

German industrial output dropped for a third month in May amid signs Europe’s largest economy is taking a breather. Production, adjusted for seasonal swings, fell 1.8 percent from April, when it declined a revised 0.3 percent, the Economy Ministry in Berlin said today. Economists forecast output to remain unchanged, according to the median of 35 estimates in a Bloomberg News survey. Production rose 1.3 percent in May from the previous year when adjusted for working days. While Germany’s economic trend points “upward significantly,”...

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IBM Research Launches Project "Green Horizon" to Help China Deliver on Ambitious Energy and Environmental Goals

Agreement with Beijing government helps transform approaches to air quality management BEIJING, July 7, 2014 /PRNewswire/ -- IBM (NYSE: IBM) has announced that it is deploying the full force of its researchers in laboratories around the world in a 10-year initiative to support China in transforming its national energy systems and protecting the health of citizens. Dubbed "Green Horizon", the project sets out to leap beyond current global practices in three areas critical to China's sustainable growth: air quality management,...

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American Apparel: Ousted CEO Dov Charney gears up for a power grab

Ousted American Apparel Chief Executive Dov Charney is firing up the machinery to retake control of the company that booted him nearly two weeks ago. Charney plans to solicit the written consent from other stockholders to expand the number of board members to 15 from seven, elect new directors and amend company bylaws at a special shareholder meeting, according to a Tuesday filing with the Securities and Exchange Commission. This is Charney's...

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Markets face mixed week; oil slides

Added to the picture, revised data revealed that the US economy shrank a steep 2.9 per cent in the first three months of 2014, sharply worse than the previous estimate of a 1pc decline. Oil: The oil market fell as weak data stoked fresh demand fears in top consumer the United States, while Iraqi crude supplies appeared unaffected by ongoing violence, analysts said. Consumer spending, which accounts for more than two-thirds of US economic growth, rose a mere 0.2pc in May after flattening in April, official data showed. In addition, initial US...

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HP to settle $11bn litigation

NEW YORK: Hewlett-Packard and attorneys representing shareholders have agreed to settle litigation over its troubled $11.1 billion acquisition of British software company Autonomy Corporation. Under the terms of the settlement, involving three lawsuits, the attorneys for the shareholders have agreed to drop all claims against HP's current and former executives, including chief executive Meg Whitman, board members and advisers to the company. The exception to that will be former officials at Autonomy. As part of the agreement, the shareholders'...

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Ruling Risks New Argentine Default as Monday Deadline Approaches

Bank of New York Mellon Corp. must return a $539 million deposit from Argentina intended for restructured bondholders, a U.S. judge ruled, calling the transfer an “explosive action” that disrupted potential settlement talks with holders of defaulted debt. U.S. District Judge Thomas Griesa in New York has ruled that Argentina can’t pay holders of its restructured debt without also paying more than $1.5 billion to a group of defaulted bondholders, raising the possibility of a new default as the South American nation approaches a June 30 payment...

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American Apparel Adopts Rights Plan to Thwart Ousted CEO

Dov Charney, former chief executive officer of American Apparel Inc. The company investigated Charney’s actions this year and found a history of misconduct, a person familiar with the matter said. Charney is contesting the firing. Photographer: Keith Bedford/Bloomberg American Apparel Inc. (APP:US), the retailer whose shares have dropped 52 percent in the past year, adopted a one-year shareholder rights plan to keep ousted Chief Executive...

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