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Moodys downgrades Chicagos rating over pensions

Business New from NZ Herald - 7 min 31 sec ago
CHICAGO (AP) Moodys Investors Service has downgraded Chicagos credit rating to two levels above junk status, citing the citys $20 billion mountain of unfunded pension liabilities.The agency said Friday that it lowered the rating...
Categories: NZ Herald Business

AP Interview: Greeces repayments to ECB need discussion

Business New from NZ Herald - 2 hours 17 min ago
ATHENS, Greece (AP) Greece will prioritize debt repayments to the International Monetary Fund, some of which come due in March, but repayments to the European Central Bank are in a different league and will need discussion with...
Categories: NZ Herald Business

US drone strike in Yemen kills 3 suspected al-Qaida fighters

Business New from NZ Herald - 2 hours 17 min ago
SANAA, Yemen (AP) A suspected U.S. drone strike Saturday in central Yemen killed three men believed to be al-Qaida militants, security officials said.The officials said the attack took place in the town of Bihan in Yemens Shabwa...
Categories: NZ Herald Business

Dallas-area ice forces cancellation of nearly 1,000 flights

Business New from NZ Herald - 2 hours 22 min ago
DALLAS (AP) Freezing rain that coated parts of Texas and Oklahoma for the second consecutive day left highways slick and forced the cancellation of about 1,000 flights Saturday at Dallas-Fort Worth International Airport, one of...
Categories: NZ Herald Business

Finance Minister: Greece to seek talks on debt rescheduling while working on reforms

Business New from NZ Herald - 2 hours 22 min ago
ATHENS, Greece (AP) Finance Minister: Greece to seek talks on debt rescheduling while working on reforms.
Categories: NZ Herald Business

Greece will not seek another bailout, prime minister says

Business New from NZ Herald - 3 hours 17 min ago
ATHENS, Greece (AP) Greece wont seek a third bailout deal, the prime minister said Saturday, having succeeded in separating the loan agreement from the disastrous austerity conditions imposed with the willing cooperation of previous...
Categories: NZ Herald Business

Berkshire Hathaways 4Q profit declines 17 percent

Business New from NZ Herald - 3 hours 42 min ago
OMAHA, Nebraska (AP) Berkshire Hathaway Inc. said Saturday that its fourth quarter profit slid 17 percent because of declines in the paper value of its investments and derivative contracts.Berkshires quarterly profit declined...
Categories: NZ Herald Business

Bernard Hickey: Blame it all on Basel

Business New from NZ Herald - 4 hours 12 min ago
Why are house prices so ruinously high in New Zealand? Is it too much migration or too few controls on foreign buying?In a KPMG report this week, bank executives mused that foreign cash buyers were pumping up asset values.Are...
Categories: NZ Herald Business

Buffett reflects on his firms success and strength

Business New from NZ Herald - 4 hours 22 min ago
OMAHA, Nebraska (AP) Investor Warren Buffett believes his company, Berkshire Hathaway, will continue to thrive for decades thanks to its vast and varied collection of remarkable businesses and investments, which will help it withstand...
Categories: NZ Herald Business

Striking Danish cabin crew forces SAS to cancel 30 flights.

Business New from NZ Herald - 5 hours 42 min ago
COPENHAGEN, Denmark (AP) Scandinavian Airlines says some 30 flights out of Copenhagen have been canceled after members of a Danish cabin crew union walked out to protest the carriers plan to move 147 employees to a domestic airline...
Categories: NZ Herald Business

Chinas central bank cuts rates again to boost economy

Business New from NZ Herald - 9 hours 17 min ago
BEIJING (AP) Chinas central bank cut interest rates for the second time in three months Saturday, adding to signs the countrys leaders are worried the economic slowdown is deepening too sharply.The Peoples Bank of China announced...
Categories: NZ Herald Business

Indias new budget aims to boost growth and infrastructure

Business New from NZ Herald - Sat, 28/02/2015 - 10:45pm
NEW DELHI (AP) Indias finance minister announced the governments new budget on Saturday, promising a slew of measures that attempt to balance welfare spending with high economic growth and infrastructure development, while vowing...
Categories: NZ Herald Business

Chinas famed Shaolin temple plans big project in Australia

Business New from NZ Herald - Sat, 28/02/2015 - 9:50pm
BEIJING (AP) Chinas Shaolin Temple, historically known for its martial arts traditions but which recently has gained a reputation for aggressive commercialization, is planning to build a $297 million complex in Australia that would...
Categories: NZ Herald Business

Yellen meets with conservative groups unhappy with Fed

Business New from NZ Herald - Sat, 28/02/2015 - 1:30pm
WASHINGTON (AP) Federal Reserve Chair Janet Yellen met Friday with a group of conservative activists who are unhappy with the way the central bank is conducting its interest-rate policies.The meeting, which was set up in early...
Categories: NZ Herald Business

Puerto Rico power company delays debt restructuring plan

Business New from NZ Herald - Sat, 28/02/2015 - 1:20pm
SAN JUAN, Puerto Rico (AP) Puerto Ricos heavily indebted public power company is asking creditors for more time to present its restructuring plan.A company statement Friday says it has not finalized the plan that was scheduled...
Categories: NZ Herald Business

Uber says database containing driver info was breached

Business New from NZ Herald - Sat, 28/02/2015 - 12:30pm
NEW YORK (AP) Uber says a database containing the names and drivers license numbers of 50,000 of its drivers was breached in May.The ride-sharing service says it has notified the drivers and hasnt received any reports of the...
Categories: NZ Herald Business

Googles Blogger reverses porn policy after user backlash

Business New from NZ Herald - Sat, 28/02/2015 - 12:15pm
NEW YORK (AP) Apparently Google bloggers like to post porn. A lot.Just three days after saying sexually explicit material would be banned from public Blogger forum sites, Google is backing down. Faced with a ton of feedback,...
Categories: NZ Herald Business

How the Dow Jones industrial average fared on Friday

Business New from NZ Herald - Sat, 28/02/2015 - 12:15pm
U.S. stocks closed lower on Friday following news that U.S. economic growth slowed more sharply than previously estimated in the final three months of 2014. The major stock indexes still notched gains for the month, recovering after...
Categories: NZ Herald Business

FDIC closes Puerto Ricos Doral Bank; Banco Popular steps in

Business New from NZ Herald - Sat, 28/02/2015 - 11:50am
SAN JUAN, Puerto Rico (AP) Puerto Rico regulators shut down Doral Bank on Friday, with Banco Popular taking over most of the operations of what once the U.S. territorys fourth largest bank.Doral had $5.9 billion in total assets...
Categories: NZ Herald Business

5 reasons US economy is stronger than Q4 GDP suggests

Business New from NZ Herald - Sat, 28/02/2015 - 11:35am
WASHINGTON (AP) The U.S. economy grew at a modest annual rate of 2.2 percent in the fourth quarter, less than half the third quarters torrid 5 percent rate and weaker than the government first reported.While the sharp slowdown...
Categories: NZ Herald Business
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