News from the Financial Market
Sears posts bigger-than-expected loss as cold weather bites
(Reuters) - U.S. retailer Sears Holdings reported a larger-than-expected quarterly loss as cooler weather hurt sales at its department stores and said it was considering a sale of its protection agreement business to shore up liquidity.
Reuters - 2013-05-23 Read more
GLOBAL MARKETS-Shares end lower in volatile session, dollar falls
* Japan, Europe tumble after weak data from China, euro zone
Reuters - 2013-05-23 Read more
FOREX-Dollar, euro slump vs yen on stock losses, China data
NEW YORK, May 23 (Reuters) - The dollar was on track for its biggest daily drop in more than five weeks against the yen on Thursday after a sharp slide in Japanese stocks and weak Chinese factory...
Reuters - 2013-05-23 Read more
Gap first-quarter profit rises 43 percent
(Reuters) - Gap Inc reported a higher first-quarter profit on Thursday, helped by a rise in same-store sales at its Old Navy and namesake chains, and growth in Asia.
Reuters - 2013-05-23 Read more
Recommended economics writing: Link exchange
TODAY'S recommended economics writing:• Europe's lost Keynesians (Project Syndicate)• The banking crisis as a giant carry trade gone wrong (Vox)• Don't fear the bubble (Felix Salmon)• Foreign borrowing in the euro area periphery (Liberty Street)
The Economist - 2013-05-23 Read more
Sprint, SoftBank complete U.S. state regulatory review process
NEW YORK (Reuters) - Sprint Nextel and SoftBank Corp said on Thursday they had received all necessary state regulatory approvals for the Japanese company's proposed $20.1 billion purchase of 70 percent of Sprint.
Reuters - 2013-05-23 Read more
Goldman Sachs banker settles SEC 'pay-to-play' charges
WASHINGTON (Reuters) - Former Goldman Sachs banker Neil Morrison agreed to pay $100,000 to settle charges for his role in a pay-to-play scheme involving a Massachusetts gubernatorial campaign, the largest such penalty paid by an individual, the U.S. Securities and Exchange Commission said on Thursday.
Reuters - 2013-05-23 Read more
Ontario's LCBO goes casual as union wins right to ditch the ties
Plus, why Flaherty is still worried about CMHC
The Globe and Mail - 2013-05-23 Read more
LCBO goes casual as union wins right to ditch ties
Plus, why Flaherty is still worried about CMHC
The Globe and Mail - 2013-05-23 Read more
Icahn seeks up to $7 billion for Dell bid
NEW YORK (Reuters) - Activist investor Carl Icahn and Southeastern Asset Management Inc have initiated talks with banks and asset managers to line up commitments for as much as $7 billion in bridge loans to back their leveraged recapitalization proposal for Dell Inc, banking sources told Thomson Reuters LPC on Thursday.
Reuters - 2013-05-23 Read more