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Business - Ackman takes blame after hyped Herbalife talk flopped

Billionaire investor William Ackman called himself his `own worst enemy` in reviewing why last week`s much hyped presentation on Herbalife Ltd.`s nutrition clubs failed to deliver the `death blow` he had originally promised. `It was a PR failure,` Ackman told Bloomberg News on Thursday, explaining that he had raised expectations about the presentation. `I`m my own worst enemy,` Ackman said when asked whether he had been advised on how to present the data. Herbalife`s stock price climbed higher during the July 22 presentation, extending the fund manager`s losses on his $1 billion short bet against the company that he unveiled 19 months ago when he first accused the company of running a pyramid scheme.

Thursday, July 31, 2014  20:20


World - Ukraine premier stays on, envoys agree on crash site route

By Pavel Polityuk and Natalia Zinets KIEV (Reuters) - Ukraine`s parliament rejected Prime Minister Arseny Yatseniuk`s resignation on Thursday and finally passed legislation he said was needed to finance an army offensive against a separatist rebellion in the east and avert a national default on its debts. The assembly`s about-turn on laws it refused to back a week earlier offers relief to Kiev`s Western backers, who had feared Ukraine was sliding deeper into political chaos and might renege on an international bailout as it heads into an election period. The first is that Argentina has defaulted, and the second is that Ukraine has not defaulted and never will,` Yatseniuk told the chamber, making clear he would stay in office. The political battle has been taking place against the backdrop of a military campaign to win back parts of the Donbass region, which borders Russia, from the pro-Moscow rebels.

Thursday, July 31, 2014  19:27


World - EU adopts toughest Russian sanctions yet, targets five Russian banks

By Barbara Lewis and Martin Santa BRUSSELS (Reuters) - The European Union has published a law that will curb arms sales to Russia and to cut off financing for five major Russian banks over Moscow`s support for rebels in Ukraine. Russia has denounced the measures, agreed by the 28 EU member states on Tuesday, as `destructive and short-sighted`, while fighting has intensified in eastern Ukraine between Kiev forces and the pro-Russian separatists. EU officials say the sanctions aim to inflict maximum pain on Russia and minimum pain on the EU. `We will for sure have an effect and a very substantial and concrete effect on Russia,` one EU official said, speaking on condition of anonymity.

Thursday, July 31, 2014  17:40


Business - Brazil`s Embraer sees more U.S. orders next year: CEO

SAO PAULO (Reuters) - Brazil`s Embraer SA , the world`s third largest commercial planemaker, expects more new regional jet orders from the United States next year, given strong acceptance of E-175 aircraft delivered there recently, Chief Executive Officer Frederico Curado said on a Thursday earnings call. (Reporting by Brad Haynes; Editing by Jeffrey Benkoe)

Thursday, July 31, 2014  16:06


Market - Adidas axes profit forecast over Russia

Adidas has become the latest big Western company to warn that Russia`s economic woes are taking a toll on its business.

Thursday, July 31, 2014  15:53


Business - Wisconsin Supreme Court upholds 2011 union law

MADISON, Wis. (AP) — The Wisconsin Supreme Court on Thursday upheld the 2011 law that effectively ended collective bargaining for most public workers, sparked massive protests and led to Republican Gov. Scott Walker`s recall election and rise to national prominence.

Thursday, July 31, 2014  15:40


Market - Stocks look set to end July with whimper

Argentina default fears and more worries about a struggling bank in Portugal have investors nervous. Whole Foods and Yum Brands were also big losers.

Thursday, July 31, 2014  15:13


Business - Homeowner who fought off Trump is moving on

She once called Donald Trump `a maggot, a cockroach and a crumb.` This week, he remembered her as `an impossible person.`

Thursday, July 31, 2014  12:33


World - China slams Canada for `irresponsible` hacking accusations

China`s foreign ministry accused Canada on Thursday of making irresponsible accusations lacking any credible evidence after Canada singled out Chinese hackers for attacking a key computer network and lodged a protest with Beijing. Officials said `a highly sophisticated Chinese state-sponsored actor` had recently broken into the National Research Council. The council, Canada`s leading research body, works with major companies such as aircraft and train maker Bombardier Inc.. Canada has reported hacking incidents before, but this was the first time it had singled out China. China is often cited as a suspect in various hacking attacks on companies in the United States and other countries.

Thursday, July 31, 2014  12:06


Business - Rolls-Royce says 2014 on track, to return to growth next year

By Sarah Young LONDON (Reuters) - Aero-engine maker Rolls-Royce said it was on track to return to growth next year, after profits fell as expected in the first half due to shrinking defense spending, a strong pound and a struggling marine business. The company kept its guidance for profit excluding foreign exchange movements to be flat this year, reassuring investors who were fearing an unpleasant surprise. Rolls-Royce alarmed markets in February by announcing there would be a pause in profit growth in 2014, ending a decade of continuous rises as the company absorbed the impact of declining U.S. and European military budgets. Rolls-Royce, which has said that this year`s profits would be two-thirds weighted to the second half, is scheduled to provide its next update to the market in October.

Thursday, July 31, 2014  11:53

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