Category | Business

EU/IMF mission chiefs to arrive in Greece for bailout talks on Wednesday

Posted on 28 July 2015

ATHENS (Reuters) – European Union and International Monetary Fund mission chiefs will arrive in Athens on Wednesday for talks on a third bailout program to keep Greece afloat, a finance ministry official said on Tuesday.

Sirius XM raises 2015 forecast on strong U.S. auto sales

Posted on 28 July 2015

(Reuters) – Sirius XM Holdings Inc raised its full-year forecast for revenue and subscriber additions for the second time in a row, citing strong U.S. auto sales.

UPS second-quarter profit rises, tops estimate, despite lower revenue

Posted on 28 July 2015

CHICAGO (Reuters) – Package delivery company United Parcel Service Inc on Tuesday reported higher second-quarter net profit as improved margins offset a drop in revenue.

RBS eyes $2.2 billion Citizens share sale to cut stake to below 25 percent

Posted on 28 July 2015

LONDON (Reuters) – State-backed Royal Bank of Scotland said it intends to sell up to $2.2 billion more shares in its former U.S. arm Citizens , which would cut its stake in the business to less than a quarter.

Cessna jets maker Textron’s revenue falls on fewer deliveries

Posted on 28 July 2015

(Reuters) – Textron Inc , the maker of Beechcraft and Cessna planes, reported lower-than-expected quarterly revenue as it delivered fewer King Air Turboprops and Bell helicopters.

U.S. stock futures rise as investors refocus on earnings

Posted on 28 July 2015

(Reuters) – U.S. stock index futures rose on Tuesday as investors refocused on corporate earnings a day after a tumble in the Chinese stock market sent global markets lower.

Pfizer’s revenue, profit beat as vaccine sales rise

Posted on 28 July 2015

(Reuters) – Pfizer Inc reported better-than-expected quarterly profit and revenue, helped by strong demand for its pneumonia vaccine Prevnar 13 and sales of its breast cancer drug, Ibrance.

Greece awaiting ECB consent to reopen stock market

Posted on 28 July 2015

ATHENS (Reuters) – Greece is waiting for the green light from the European Central Bank on plans it has submitted to reopen the Athens stock market after a month-long shutdown, two regulatory sources said on Tuesday.

Ford easily tops expectations on 2nd-qtr profit

Posted on 28 July 2015

DETROIT (Reuters) – Ford Motor Co on Tuesday reported second-quarter earnings that handily beat expectations, based on the continued strength of North American sales, led by its popular F-150 pickup truck.

As Fed approaches rate hike, job growth shifts away from oil patch

Posted on 28 July 2015

TULSA, Oklahoma (Reuters) – The rebound in U.S. jobs, limited in the early part of the recovery to a handful of booming industries such as oil, has broadened across the country as old-line industrial areas such as Michigan and sun belt hubs like Florid…

VW overtakes Toyota as world’s biggest carmaker

Posted on 28 July 2015

MUNICH/TOKYO (Reuters) – Volkswagen overtook Toyota as the world’s largest carmaker by sales in the first half year, achieving its long-held ambition three years ahead of target.

German ‘wisemen’ say euro zone states should be able to go bankrupt

Posted on 28 July 2015

BERLIN (Reuters) – The German government’s panel of independent economic advisers favors the creation of a sovereign insolvency mechanism for euro zone states to prevent future crises and says countries should be able to leave the currency bloc as a la…

Hikma to buy Boehringer’s U.S. generics unit for $2.65 billion

Posted on 28 July 2015

(Reuters) – Hikma Pharmaceuticals Plc said it would buy German drugmaker Boehringer Ingelheim’s U.S. specialty generic drugs business for about $2.65 billion in cash and stock to bolster its presence in the United States.

Hikma to buy Boehringer’s U.S. generics unit for $2.65 billion

Posted on 28 July 2015

(Reuters) – Hikma Pharmaceuticals Plc said it would buy German drugmaker Boehringer Ingelheim’s U.S. specialty generic drugs business for about $2.65 billion in cash and stock to bolster its presence in the United States.

Honeywell to buy Melrose’s Elster business for $5.1 billion

Posted on 28 July 2015

(Reuters) – Honeywell International Inc , a maker of aircraft parts and climate control systems, has agreed to buy the utility consumption meter business of Britain’s Melrose Industries Plc for 3.3 billion pounds ($5.1 billion).

Honeywell to buy Melrose’s Elster business for $5.1 billion

Posted on 28 July 2015

(Reuters) – Honeywell International Inc , a maker of aircraft parts and climate control systems, has agreed to buy the utility consumption meter business of Britain’s Melrose Industries Plc for 3.3 billion pounds ($5.1 billion).

BP profits slump after huge oil spill charge

Posted on 28 July 2015

LONDON (Reuters) – BP’s second-quarter profit slumped by nearly two thirds from a year ago as it grappled with lower crude prices and took a huge $10.8 billion charge related to the 2010 Gulf of Mexico oil spill.

GM, China’s SAIC will develop small vehicles for emerging markets

Posted on 27 July 2015

DETROIT (Reuters) – General Motors Co said on Tuesday it will invest $5 billion over the next several years to develop with its Chinese partner a new family of Chevrolet vehicles aimed at fast-growing emerging markets, in the process offering investors…

Stocks rebound, shrugging off volatile and weak China

Posted on 27 July 2015

LONDON (Reuters) – Stocks rose on Tuesday, with Europe snapping a five-day losing streak as investors shrugged off further weakness in commodity markets and Chinese shares to focus on more encouraging merger activity and earnings.

P&G to name David Taylor CEO: WSJ

Posted on 27 July 2015

(Reuters) – Procter & Gamble Co will replace Chief Executive A.G. Lafley with company veteran David Taylor in a widely expected appointment that could be announced as soon as Thursday, the Wall Street journal reported.

U.S. private sector vows to ante up on climate finance

Posted on 27 July 2015

WASHINGTON (Reuters) – Some of the biggest U.S. corporate names on Monday offered their support – and billions of dollars in green financing pledges – to buttress the Obama administration’s quest for a global agreement on combating climate change.

Toyota’s Scion aims to double U.S. sales by 2017

Posted on 27 July 2015

DETROIT (Reuters) – The youth-oriented Scion brand will double U.S. sales to above 100,000 by 2017 on the strength of three new offerings, two of which go on sale in September, the head of the 12-year-old Toyota Motor Corp brand said.

Baidu profit weighed down by offline mobile services push

Posted on 27 July 2015

(Reuters) – Baidu Inc’s quarterly profit missed analysts’ estimates as China’s biggest Internet search company spent heavily to diversify away from its core search advertising business, which is becoming less profitable and more competitive.

Fiat Chrysler could spend billions to buy back unrepaired trucks

Posted on 27 July 2015

DETROIT (Reuters) – Fiat Chrysler Automobiles could pay billions of dollars to buy back defective trucks as part of a settlement with U.S. safety regulators, but has the option to recover costs by reselling vehicles once they are repaired.

BlackRock dives into private deals as banks shy away

Posted on 27 July 2015

(Reuters) – BlackRock Inc is on the prowl for energy and infrastructure projects in the United States, Mexico and Asia that its institutional clients can invest in, Mark McCombe, head of BlackRock’s institutional business, said in an interview last wee…