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China probes 581 firms, restaurants as food safety scare spreads

China probes 581 firms, restaurants as food safety scare spreads

SHANGHAI (Reuters) – China’s food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan.




Reuters: Business News

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Facebook beats Wall Street targets, stock hits record high

Facebook beats Wall Street targets, stock hits record high

SAN FRANCISCO (Reuters) – Facebook Inc’s fast-growing mobile advertising business helped drive a 61 percent increase in revenue during the second quarter, beating Wall Street’s financial targets and sending shares to a record-high in after-hours trading on Wednesday.


Reuters: Business News

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Asia shares edge higher, wary ahead of China factory survey

Asia shares edge higher, wary ahead of China factory survey

SYDNEY (Reuters) – Asian stocks inched higher on Thursday, encouraged by upbeat corporate results and a record close on Wall Street, while unrest in the Middle East and Ukraine underpinned demand for high-rated bonds.


Reuters: Business News

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Seven arrests made in $1.6 million StubHub cyberfraud case

Seven arrests made in $1.6 million StubHub cyberfraud case

NEW YORK (Reuters) – Police have arrested seven people on charges they were tied to an international ring that defrauded eBay Inc’s StubHub online ticketing service of some $ 1.6 million, the latest in a string of high-profile cybercrime busts in recent months.




Reuters: Business News

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Economists worry rising wages may catch the Fed off guard

Economists worry rising wages may catch the Fed off guard

WASHINGTON (Reuters) – Wages may be growing at a faster clip than envisaged by U.S. policymakers, with a recent raft of business surveys showing an increase in the number of companies raising compensation.




Reuters: Business News

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Ex-Jefferies trader gets two years in prison in fraud case

Ex-Jefferies trader gets two years in prison in fraud case

NEW HAVEN Conn. (Reuters) – A former Jefferies Group Inc managing director convicted of defrauding investors who traded mortgage bonds through a government program established after the 2008 financial crisis was sentenced on Wednesday to two years in prison.


Reuters: Business News

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Aussie climbs on inflation

Aussie climbs on inflation

The Australian dollar climbed to the highest level in almost two weeks against the U.S. dollar.
Forex

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GM recalls 717,950 vehicles in U.S., not for ignition switches

GM recalls 717,950 vehicles in U.S., not for ignition switches

DETROIT (Reuters) – General Motors Co on Wednesday announced six recalls covering 717,950 vehicles in the United States for varying reasons.




Reuters: Business News

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Time for yen traders to wake up

Time for yen traders to wake up

There are growing signs that the yen bears may be gaining the upper hand.
Forex

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UK fraud office liaising with China on GSK bribery case

UK fraud office liaising with China on GSK bribery case

LONDON (Reuters) – Britain’s fraud office is working with authorities in China in a first for such Anglo-Chinese cooperation as it carries out its own investigation into alleged corruption at drugmaker GlaxoSmithKline .


Reuters: Business News

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