BUSINESS

China's Bright Food To Buy 60% Stake In Weetabix

China's Bright Food in Foreign Foray
Bright Food Group Co., the second-largest food company in China, said Thursday it would buy a 60 percent stake in British cereal maker Weetabix Ltd. as it seeks to expand in foreign markets.
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A sign is seen outside the JPMorgan office in Los Angeles

European, US Officials Struggle To Tighten Banking Rules

European Union finance ministers failed Thursday to hammer out new global banking regulations, highlighting the resistance regulators on both sides of the Atlantic face as they push for tougher banking rules to ensure banks won't spark another great recession, as they did in 2008.
Chevrolet cars on the parking lot of Tropical Miami General Motors dealership

GM First Quarter Earnings Slump Despite Strong U.S. Sales

General Motors Company (NYSE: GM), the world's largest auto company, reported profits down 69 percent for the first quarter, but the loss resulted from outsized, one-time profits the year before. Overall performance for the company was strong, with revenue driven 4.4 percent higher by strong U.S. sales and improved global margins.
Asean+3, South Korean Finance Minister Bahk Jae-wan

Asian Nations Double Financial Safety Net To $240B

Asia is doubling the size of its foreign currency reserve safety net to $240 billion, finance ministers and central bank officials announced Thursday following a 13-nation meeting in Manila. The reserve funds a multilateral currency swap agreement aimed at protecting Asian markets from global economic crises.
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US 1Q Productivity Drops, Labor Costs Rise

Nonfarm productivity fell in the first quarter as companies hired more workers to maintain output, but a moderate rise in wages suggested little pressure on company profits and inflation.
Super Pit gold project

Gold Prices Slip As Euro Weakens

Gold eased on Thursday, under pressure from a decline in the euro ahead of a rate decision from the European Central Bank, while concerns about Spain's ability to finance itself simmered after yields shot up at a debt auction.
GM

GM 1Q Earnings Beat Street On Strong US Demand

General Motors reported a first-quarter profit that surpassed forecasts as it was able to boost vehicle prices, especially in North America, and cut losses in its troubled European operations.
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Computer Security: IBM Finds Too Many Companies Not Prepared

Despite publicity about hackers, intrusions into company databases and even the insertion of computer viruses into Iran?s nuclear program, most companies simply aren?t prepared to handle them, a new study from International Business Machines Corp. (NYSE: IBM) determined.
Casey Anthony

Casey Anthony: Pastor's Wife Who Gave Her Shelter Calls 'Tot Mom' Self-Centered In Disturbing Voicemail

One year after the acquittal of Orlando mother Casey Anthony, facts and clues are still emerging. A recent voice mail left by the wife of a pastor who sheltered Casey Anthony after the murder trial lets out yet another clue on 'who' Casey is. The voice mail obtained exclusively by Radaronline has Pastor's wife Cindy Camp, asking Casey to stop being selfish and to think of others. For once get outside your own head and think of someone else, she says at one point in the voice mai...
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ECB Holds Rates As Price Pressures Prevent Cut

The European Central Bank held its main interest rate at 1.0 percent on Thursday as stubborn inflation offset pressure to loosen borrowing costs further to support the weak eurozone economy.

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