Business News Headlines

By Andrew Callus LONDON (Reuters) - A group of accountancy professors is backing BP's fight to cap the U.S. oil spill compensation payouts it has to fund as the cash outflow threatens to add billions of dollars to its bill for the disaster. The news comes after the payouts administrator, Patrick Juneau, predicted that over …

By Steve Slater and Matt Scuffham LONDON (Reuters) - HSBC's Chairman Douglas Flint called for an acceleration in the speed of reform within the industry as the bank was criticized by shareholders for compliance failings and accusations it aided tax avoidance. Flint told around 400 shareholders at the bank's annual meeting …

By Sarah Marsh BERLIN (Reuters) - Germany's economy will recover from a bout of winter weakness but fall well short of the dynamic growth rates of previous years as euro zone recession and global slowdown stunt exports and investment. There are homegrown problems too. What hue of government will result from September elections …

(Reuters) - Procter & Gamble Co said on Friday the surprise return of A.G. Lafley as chairman and chief executive was not an indication of any bigger problems at the world's largest consumer products maker. Lafley replaces Bob McDonald, effective immediately, at P&G, which is in the midst of a major restructuring. "This …

By Martin Santa and Huw Jones BRUSSELS/LONDON (Reuters) - The role of the European Banking Authority must be beefed up beyond current plans to ensure that regulation of Europe's banks does not fragment into two competing systems, one of the architects of the reforms told a public hearing on Friday. Jacques de Larosiere, …

By Yantoultra Ngui KUALA LUMPUR (Reuters) - Malaysian billionaire Vincent Tan is exploring an IPO of British soccer team Cardiff City for as early as this year, people with knowledge of the matter told Reuters, in a deal that would follow the team's recent promotion to the Premier League. The process is in its early stages, …

NEW YORK (AP) — Stocks are opening lower on Wall Street, putting the market on track for its first weekly loss after four weeks of gains.

WASHINGTON (AP) — U.S. orders for long-lasting manufactured goods rebounded in April, buoyed by more demand for aircraft and stronger business investment. The gains suggest economic growth may be holding steady this spring.

NEW YORK (AP) — Household products giant Procter & Gamble Co. is hoping its former CEO can work his magic once again.

WASHINGTON (AP) — When President Barack Obama pushed his health care overhaul plan through Congress, he counted labor unions among his strongest supporters.

TOKYO (AP) — Japan's top leaders are defending the economic strategies championed by Prime Minister Shinzo Abe, though the central bank chief acknowledged a need for better communication with financial markets, a day after Tokyo shares suffered their worst loss since the 2011 tsunami disaster.

PARIS (AP) — The French government is trying to woo executives and entrepreneurs, amid concerns that it has antagonized the businesses needed to reinvigorate the economy.

BERLIN (AP) — German business confidence rebounded this month in an unexpectedly strong showing that sends a hopeful signal for more robust growth in Europe's biggest economy, a closely watched survey found Friday.

GENEVA (AP) — Chinese Premier Li Keqiang is in Switzerland to sign a free trade pact with the Alpine nation — the first comprehensive agreement the country has reached with a major western economy.

The price of oil was knocked below $94 a barrel Friday by a combination of ample supplies and lukewarm demand.

NEW YORK (AP) — After years of struggle, Gap is back in style.

Frank Lloyd Wright may have died in 1959, but his architecture is alive and well. A recent story in the Wall Street Journal revealed the cost to upkeep some of his historic homes may be more than buyers bargain for, but others clamor to invest in history.        

The judge presiding over the lawsuit against Martha Stewart and J.C. Penney ruled on Friday allowing the sale of Martha Stewart merchandise in J.C. Penney stores.