Chesapeake shares fall on downgrade, loan
(Reuters) - Chesapeake Energy Corp shares dropped as much as 6.5 percent on Tuesday following a credit rating downgrade and news that the natural gas producer will boost its borrowings to $4 billion from the planned $3 billion as it faces a liquidity crunch. The company, facing a funding shortfall of $9 billion to $10 billion this year, said on Friday that Goldman Sachs and Jefferies Group would provide it with $3 billion. Chesapeake's cash flows have shrunk as natural gas prices slumped to their lowest levels in a decade, putting pressure on the second-largest U.S. ...
Sony slides to three-decade low on strategy doubts
TOKYO (Reuters) - Shares in Sony Corp slumped more than 7 percent to near 32-year lows, as investors doubted the Japanese consumer electronics giant has a strategy to fix its loss-making TV business and compete in the smartphone market against Apple Inc and Samsung Electronics. The last time Sony shares were this low, in the summer of 1980, its first Walkman portable cassette player had just gone on sale in the United States. The maker of Bravia TVs, Vaio laptops and PlayStation games consoles on Thursday posted a record annual loss of $5. ...
China industrial output growth weakest in nearly three years
BEIJING (Reuters) - Chinese industrial production weakened sharply in April as investment slowed to its lowest level in nearly a decade, showing an economy that is surprisingly vulnerable to a global slowdown and a credit crunch at home. Industrial production rose by 9.3 percent in April, the lowest level since May 2009, while retail sales surprised the market by slowing to a 14.1 percent rise, the lowest level in 14 months. Fixed asset investment rose by 20.2 in the first four months of the year, the slowest level since December 2002. "It's obviously much weaker than anyone had expected. 9. ...
US panel gives nod to new obesity drug
A panel of experts on Thursday urged US regulators to approve what could be the first new anti-obesity drug on the market in more than a decade -- Lorcaserin, made by Arena Pharmaceuticals.
Afghan women fade from White House focus as exit nears
Shortly after sending U.S. troops to Afghanistan in October 2001, President George W. Bush focused so intently on freeing Afghan women from the shackles of Taliban rule that empowering them became central to the United States' mission there. More than a decade later, as his successor Barack Obama charts a way out of the unpopular war, Afghan girls are back in school, infant and maternal survival rates are up and a quarter of the parliament's seats are reserved for women who at least on paper have the same voting, mobility and other rights as men. ...
FDA advisers recommend approving weight loss drug
Advisers to government health regulators on Thursday recommended that that they approve sales of what would be the first new prescription weight-loss drug in the U.S. in more than a decade, despite concerns over cardiac risks.
Whitney Houston’s mother releases new gospel songs
Whitney Houston's mother has released a new album of gospel tunes, her first new music since her daughter's death and in more than a decade.
Exclusive: China considers delay of key party congress: sources
BEIJING (Reuters) - China's ruling Communist Party is seriously considering a delay in its upcoming five-yearly congress by a few months amid internal debate over the size and makeup of its top decision-making body, sources said, as the party struggles to finalize a once-in-a-decade leadership change. The two most senior posts, of president and premier, are not considered in much doubt. But any delay in the congress, no matter the official reason, would likely fuel speculation of infighting over the remaining seats in the nine-member politburo standing committee which calls the shots in China. ...
Socialist Hollande ousts Sarkozy as French leader
PARIS (Reuters) - Socialist Francois Hollande swept to victory in France's presidential election on Sunday in a swing to the left at the heart of Europe that could start a pushback against German-led austerity. Hollande beat conservative incumbent Nicolas Sarkozy by a decisive 51.9 percent to 48.1 percent, based on partial results, bringing the centre-left back to government after a decade in opposition. The outgoing president conceded defeat within 20 minutes of the last polls closing at 8 p.m. (1800 GMT), telling supporters he had telephoned Hollande to wish him good luck. ...
Analysis: Corporate outlooks cloud strong U.S. earnings
NEW YORK (Reuters) - U.S. companies are seeing plenty of green this quarter, but they are raising red flags about the future. Earnings growth is running at nearly 8 percent for the first quarter, better than expected, but are issuing negative outlooks for the second quarter by a ratio of 3.3 to 1, the worst ratio since late 2008, according to Thomson Reuters data. That ratio this week briefly rose to 3.9 to 1, the worst in more than a decade. It is a sign that executives are worried about the U.S. ...
WP Cumulus Flash tag cloud by Roy Tanck and Luke Morton requires Flash Player 9 or better.