IRS officials try to tame conference spending scandal
WASHINGTON (Reuters) – Internal Revenue Service officials on Thursday tried to tame another scandal plaguing the agency, apologizing to lawmakers for a lavish 2010 conference in California that included an elaborate Star Trek spoof training video.
G4S’s new chief pins hopes on cost cuts, developing markets
LONDON (Reuters) – The new boss at G4S , the world’s biggest security group, will cut costs and push deeper into fast growing developing markets as he battles to restore the company’s image after a high profile staffing blunder at the 2012 Olympics.
Credit Suisse may sell part of German private bank: source
ZURICH (Reuters) – Credit Suisse may sell part of its private bank in Germany to improve profitability in Europe, a source close to the bank said on Thursday.
Airbus says A350 risk minimized as first flight looms
TOULOUSE, France (Reuters) – European planemaker Airbus has vowed to avoid the problems which led to the grounding of Boeing’s 787 Dreamliner as the clock ticks towards a maiden flight seen as barely one week away.
ECB holds rates, sees gradual recovery this year
FRANKFURT (Reuters) – The European Central Bank kept its main interest rate on hold at a record low 0.5 percent on Thursday, saying that improved economic data in May confirmed its forecast of a gradual recovery from prolonged recession later this year…
Senate panel backs Hochberg for second term at U.S. Ex-Im Bank
WASHINGTON (Reuters) – The Senate Banking Committee on Thursday voted 20-2 in favor of the nomination of Fred Hochberg to serve a second term as president of the U.S. Export-Import Bank, which provides financial assistance to support U.S. exports.
GM moves to boost loyalty, extends U.S. free-maintenance program
DETROIT (Reuters) – General Motors Co on Thursday expanded a maintenance program for its cars and trucks in a move meant to boost revenue by making U.S. customers more loyal to its brands.
Jobless claims fall, labor market gradually improving
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits fell last week, pointing to moderate job growth despite slowing economic activity.
CFTC urges closing ‘tropical island’ loophole
WASHINGTON (Reuters) – The top derivatives regulator urged closing a legal loophole for offshore hedge funds, warning it threatened to undo a deep overhaul of Wall Street after the credit meltdown.
Legg Mason names search adviser, former GE official to board
(Reuters) – Asset manager Legg Mason Inc on Thursday named a former search firm adviser and the former leader of General Electric Co’s asset management business to its board, replacing two directors who will step down in July.
