Dell committee says Icahn proposal is short of funding
(Reuters) – A Dell Inc special committee challenged Carl Icahn on Wednesday, saying the activist investor is almost $4 billion short of the cash needed to fund his proposal for a $12-per-share special dividend.
GM recalls some 2013-14 cars to fix brake lamps, cruise control glitch
DETROIT (Reuters) – General Motors Co is recalling 1,627 new Cadillac and Chevrolet sedans to correct an electrical glitch in the brake lamps and the cruise control.
AIG receives delayed deposit on sale of airplane leasing unit
BOSTON (Reuters) – Insurer American International Group Inc has received a delayed deposit payment from the Chinese consortium buying its ILFC airplane leasing business, AIG said in a regulatory filing on Wednesday.
Impax cuts 110 jobs, expects to save $15 million
(Reuters) – Impax Laboratories Inc said it cut about 110 jobs, or 10 percent of its workforce, mainly in its Hayward, California plant, more than four months after U.S. health regulators denied approval to the company’s Parkinson’s drug citing concerns…
Small businesses cut jobs in May: NFIB
WASHINGTON (Reuters) – Small businesses cut back on staff slightly in May, the first decline in six months and a sign of weakness in the job market recovery.
Service sector picks up slightly in May: ISM survey
NEW YORK (Reuters) – Activity in the vast services sector picked up slightly in May, though growth was still lackluster and a measure of employment fell to its lowest level in close to a year, an industry report showed on Wednesday.
Factory orders rise less than expected in April
WASHINGTON (Reuters) – New orders for factory goods rose in April, but not enough to reverse the prior month’s plunge, adding to signs of a slowdown in manufacturing activity.
Tesco recovery in doubt as UK sales resume slide
LONDON (Reuters) – Tesco , the world’s No.3 retailer, has posted a drop in quarterly underlying sales in its main British market, resuming a trend seen for most of the past three years and raising doubts about its 1 billion-pound ($1.5 billion) turnaro…
Unit labor costs fall at quickest pace in four years
WASHINGTON (Reuters) – A gauge of labor-related costs fell in the first quarter by the most in four years, although the reading appeared to be distorted by a shift in employee compensation during the prior period to avoid a tax hike.
Rush to lightweight cars boosts adhesive makers
BERLIN/FRANKFURT (Reuters) – From Pritt stick in school bags to Audi sports cars, adhesives have come a long way since natural gums and resins, and new high-tech variations are currently top of the list for carmakers as they seek ways to make cars ligh…
