Business News

HP wins 3PAR for $2.4 billion, Dell bows out

NEW YORK (Reuters) - Hewlett-Packard Co won the bidding war to buy data storage company 3PAR Inc for $2.4 billion, as rival Dell Inc bowed out on Thursday.

Stocks enjoy best day in 8 weeks

NEW YORK (Reuters) - Wall Street posted its best day in eight weeks on Wednesday as investor mood brightened after better-than-expected factory data from the United States and China.

Investors dump Reliance shares on surprise foray

Investors dumped oil giant Reliance's shares on Tuesday after the company's surprise foray into the hospitality sector with the purchase of a stake in one of the country's top luxury hotel chains.

Consumer spending gain strongest in 4 months

WASHINGTON (Reuters) - Consumer spending rose in July at the strongest pace in four months, supported by a small gain in incomes that offered hope that consumers will be able to keep contributing to a modest economic recovery.

AIG insurers cover $60 million of ex-CEO, ex-CFO costs

NEW YORK (Reuters) - Former longtime AIG chief Maurice "Hank" Greenberg and another former executive will get $60 million from the company's insurers to cover legal and other costs as part of a proposed settlement of investor lawsuits, court papers show.

Record $24.2 million fine proposed for American Airlines

WASHINGTON (Reuters) - The U.S. government on Thursday proposed to fine American Airlines $24.2 million for alleged maintenance violations that led to thousands of flight cancellations two years ago.

BHP says it won't buy Potash "at any cost"

MELBOURNE/LONDON (Reuters) - BHP Billiton tried to dampen expectations it would sweeten its hostile $39 billion offer for Potash Corp even as the world's biggest miner showed it had the wherewithal to up the ante.

Burger King sees weak demand, unemployment weighs

LOS ANGELES/NEW YORK (Reuters) - Burger King Holdings Inc , the No. 2 U.S. hamburger chain, forecast weak demand for its new fiscal year amid a struggling economy and said it was unsure how costs for key ingredients like beef would impact the company.

Air fares seen higher this fall

CHICAGO (Reuters) - Travelers on U.S. airlines can look forward to higher fares and higher fees this fall as demand recovers from the 2009 economic recession, a top fare expert said on Monday.

Sales strength of Starbucks' Via coffee questioned

LOS ANGELES (Reuters) - Better-than-expected sales of Starbucks Corp's Via coffee are being clouded by concerns that some employees have given customers free drinks in exchange for buying the fast-growing instant-coffee brand.