Today's Reuters Business News Headlines - Yahoo! News:
|
|
EADS calls for quick resolution to BAE merger uncertainty
Mon,1 Oct 2012 11:34 AM PDT
Reuters -  LONDON (Reuters) - EADS Chief Executive Tom Enders called for negotiators to resolve uncertainty as soon as possible over a planned $45 billion merger with BAE Systems . Speaking after a day of mounting criticism and rhetoric about the proposal to create a new European defense giant, Enders said the next 10 days in the run-up to an October 10 UK regulatory deadline would be crucial. "We intend to come to a conclusion very soon ... We cannot go on much longer," he told an audience at the Royal Academy of Engineering in London. ...
Full Story | Top |
Air Canada to transfer Embraer fleet to Sky Regional
Mon,1 Oct 2012 11:32 AM PDT
Reuters - TORONTO (Reuters) - Air Canada , the country's largest airline, said on Monday it would transfer its fleet of 15 73-seat Embraer 175 aircraft to privately-held Sky Regional Airlines Inc next year, part of its cost-cutting push. Sky Regional, which currently operates five Q400 turboprop planes for Air Canada flying between Billy Bishop Toronto City Airport and Montreal Trudeau Airport, is expected to get the planes between February and June 2013. The Embraer planes will continue to fly short-haul regional routes, mainly from Toronto and Montreal to the northeast United States, Air Canada said. ... Full Story | Top |
UBS trader's colleague says took part in some false accounting
Mon,1 Oct 2012 11:28 AM PDT
Reuters - LONDON (Reuters) - A former colleague of accused UBS "rogue trader" Kweku Adoboli admitted in court on Monday he had taken part in some of the illicit accounting of which Adoboli stands accused. But John Hughes, who worked closely with Adoboli on the Exchange Traded Funds (ETFs) desk in London, denied staging an elaborate "vanishing act" to ensure that only Adoboli would take the blame when losses mounted. Adoboli, 32, was arrested on September 15, 2011 and is now on trial for fraud and false accounting that cost UBS $2.3 billion. He has pleaded not guilty. ... Full Story | Top |
JPMorgan investment official Tse to leave: memo
Mon,1 Oct 2012 11:25 AM PDT
Reuters -  NEW YORK (Reuters) - Another top executive at the JPMorgan Chase & Co unit that lost $5.8 billion on derivatives trades this year is leaving the company. Irene Tse, who headed the North America operations of the Chief Investment Office, told the firm she is resigning to focus on "entrepreneurial ventures," according to a memo on Monday from Chief Operating Officer Matt Zames, a copy of which was obtained by Reuters. ...
Full Story | Top |
Bernanke tackles critics of Fed's growth push
Mon,1 Oct 2012 11:21 AM PDT
Reuters -  INDIANAPOLIS (Reuters) - Federal Reserve Chairman Ben Bernanke on Monday delivered a broad defense of the U.S. central bank's controversial bond-buying stimulus plan, saying it is necessary to support a flagging economic recovery. Bernanke pushed back against accusations that the Fed's policy is laying the groundwork for inflation, enabling the government to run large budget deficits, undercutting the dollar and hurting savers. ...
Full Story | Top |
Shares, euro gain on U.S. manufacturing data
Mon,1 Oct 2012 11:20 AM PDT
Reuters -  NEW YORK (Reuters) - Stocks in major markets rallied on Monday after a survey showed the U.S. manufacturing sector expanded last month for the first time since May and as the results of Spain's bank stress test drove gains in European financial shares. The euro rose from a three-week low against the dollar after the U.S. data dented demand for safe-haven assets. But U.S. Treasuries managed to post gains in prices, supported by bond-buying by the Federal Reserve. ...
Full Story | Top |
US Ex-Im OKs $118 million loan for Vietnam to buy Lockheed satellite
Mon,1 Oct 2012 11:19 AM PDT
Reuters - WASHINGTON (Reuters) - The U.S. Export-Import Bank on Monday said it has approved an $118 million direct loan to a Vietnamese state-owned company to buy a telecommunications satellite and other goods and services from Lockheed Martin . "By providing financing for Vietnam Posts and Telecommunications Group, this Ex-Im Bank loan supports U.S. manufactured satellites and U.S. jobs," Linda Reiners, a vice president at Lockheed Martin, said in a statement. (Reporting by Doug Palmer; Editing by James Dalgleish) Full Story | Top |
Yahoo CEO to return to office one-two weeks after birth of first baby
Mon,1 Oct 2012 10:59 AM PDT
Reuters -  SAN FRANCISCO (Reuters) - Yahoo Inc Chief Executive Marissa Mayer, three months into a nascent effort to revamp the struggling Web company, could be back in the office in one week, following the birth of her first child on Sunday. The 37-year-old Mayer will work from home and continues to lead the company and "is involved in all critical decisions making," a Yahoo spokeswoman said on Monday. "She will be working remotely and is planning to return to the office as soon as possible (likely in 1-2 weeks)," Yahoo told Reuters in an emailed comment. ...
Full Story | Top |
Crucial vote nears in Boeing contract talks
Mon,1 Oct 2012 10:48 AM PDT
Reuters -  SEATTLE (Reuters) - One of Boeing's chief labor unions staged rallies in and around Seattle this week, calling attention to a vote set for Monday that will show whether workers are willing to accept a less generous contract offered by Boeing Co or move closer to a strike. Hundreds of engineers and technicians marched at the company's two plants, its downtown Seattle office and other facilities with signs saying "Boeing: Hands Off My Healthcare" and "We Delivered. ...
Full Story | Top |
Analysis: Threatened duties push China solar firms offshore
Mon,1 Oct 2012 10:38 AM PDT
Reuters -  (Reuters) - Chinese solar companies are being forced to speed up plans to move a big chunk of their manufacturing offshore as Europe looks increasingly likely to join the United States in implementing duties on imports of Chinese-made solar equipment. The timing could not be worse for the Chinese firms, whose balance sheets are already being strained by nearly two years of weak prices and slowing demand for solar energy products. The risk now is that they will lose much of the cost advantage that has been the basis for their dominance of global solar industry, analysts and investors say. ...
Full Story | Top |
Bernanke says doesn't see a recession, but growth too slow
Mon,1 Oct 2012 10:36 AM PDT
Reuters - INDIANAPOLIS (Reuters) - Federal Reserve Chairman Ben Bernanke said on Monday the U.S. central bank did not foresee a recession but that growth was too slow to bring down the nation's jobless rate. "Right now we see an economy which is expanding. We see employment ... still growing," Bernanke said. "So, we expect the economy to continue to grow, that's our best forecast as of now. So, we are not expecting a recession." "That being said, with an economy which is growing only sort of 1-1/2 to 2 percent, that is not fast enough to lower the unemployment rate. That is my concern," he added. ... Full Story | Top |
SNC Lavalin CEO sees growth potential despite scandal
Mon,1 Oct 2012 10:34 AM PDT
Reuters - TORONTO (Reuters) - SNC Lavalin Group has strong long-term growth potential despite the chilling effect of a misconduct scandal, its new CEO said on Monday, even as a fresh report surfaced about mysterious payments allegedly made by the Canadian engineering and construction company to win a contract. Chief Executive Robert Card, in his first day on the job, said he will need time to study the company and set a strategy to restore SNC to firm footing after a far-reaching ethics scandal first rocked the company earlier this year. ... Full Story | Top |
ECB's Asmussen doubts EU banking watchdog ready by January 2013
Mon,1 Oct 2012 10:33 AM PDT
Reuters - FRANKFURT (Reuters) - The European Central Bank will not rush through "half-baked" plans for a new pan-European banking supervisor, policymaker Joerg Asmussen said on Monday, adding to doubts that the new structure can start as planned in January. Asmussen, who joined the ECB Executive Board at the start of the year, warned all those who were keen to tap the euro zone's permanent bailout fund (ESM) for direct bank recapitalization - for which the new bank supervision mechanism is a pre-requisite - that the ECB would only settle for a properly constituted set-up. ... Full Story | Top |
Greek 2013 budget sees sixth year of recession
Mon,1 Oct 2012 10:28 AM PDT
Reuters -  ATHENS (Reuters) - Greece unveiled on Monday an austerity budget which aims to unlock international aid by cutting public spending even harder, even though its economy is shrinking fast. Painful cuts will be brought forward as the country faces what is expected to be a sixth year of recession. The 2013 budget emerged as Finance Minister Yannis Stournaras met the so-called "troika" of International Monetary Fund, European Commission and European Central Bank inspectors, whose approval is vital to unlock the next installment of aid, urgently needed to avoid bankruptcy. ...
Full Story | Top |
U.S. manufacturing grows in September for first time since May
Mon,1 Oct 2012 10:25 AM PDT
Reuters -  NEW YORK (Reuters) - U.S. manufacturing unexpectedly expanded in September for the first time since May as new orders and employment picked up, but the pace of growth showed the economy was still stuck in a slow recovery. The Institute for Supply Management said on Monday its index of national factory activity rose to 51.5 from 49.6 in August. "We're not quite at the point where things are good, but this indicates strongly that things are not so bad," said Adam Sarhan, chief executive of Sarhan Capital in New York. ...
Full Story | Top |
| |
|
No comments:
Post a Comment