Boeing aims for $1.6 billion in cost savings through 2015: memo
WASHINGTON (Reuters) – Boeing Co aims to reduce costs in its defense business by an additional $1.6 billion from 2013 through 2015 under a major restructuring effort, the head of Boeing Defense Space & Security told employees on Wednesday.
Wall Street left to rebuild Obama ties after backing Romney
(Reuters) – Wall Street firms gambled on Mitt Romney and lost.
Post-election market falls, "fiscal cliff" looms
NEW YORK (Reuters) – Stocks fell more than 2 percent on Wednesday, putting the S&P 500 on track for its biggest drop since June, as investors shifted their focus to a looming fiscal showdown in Congress after President Barack Obama’s re-election.
AT&T to boost spending to $22 billion a year for three years
(Reuters) – AT&T Inc will increase capital spending by as much as 16 percent to $22 billion a year for the next three years to fund upgrades to its wireless and wireline networks, the company said on Wednesday, sending its shares down more than 3 perc…
Moody’s reserves judgment on U.S. rating until after budget
NEW YORK (Reuters) – Moody’s Investors Service said on Wednesday it will hold off on its judgment of whether to cut its sovereign credit rating for the United States until after the 2013 budget process is completed.
Exclusive: Boeing to announce major defense division restructuring
(Reuters) – Boeing Co announced a major restructuring of its defense division on Wednesday that will cut 30 percent of management jobs from 2010 levels, close facilities in California and consolidate several business units to cut costs.
Macy’s reports higher profit, Sandy weighs on forecast
(Reuters) – Macy’s Inc on Wednesday forecast profit for the key fourth quarter that missed Wall Street projections as the department store operator said Superstorm Sandy was pinching many of its shoppers.
Apple’s shares slide 4 percent to five-month low
SAN FRANCISCO (Reuters) – Shares of Apple Inc slid almost 4 percent on Wednesday to a five-month low, outpacing the U.S. stock market’s post-U.S. election losses, and slipping into bearish territory.
Obama has little time to savor election triumph
WASHINGTON (Reuters) – Fresh from a decisive re-election win, President Barack Obama returns from the campaign trail on Wednesday with little time to savor victory, facing urgent economic challenges, a looming fiscal showdown and a still-divided Congre…
Ford may cut more European capacity if outlook worsens
BERLIN (Reuters) – Ford Motor Co said it cannot rule out more European capacity cuts if the auto market deteriorates further, increasing losses from underused car plants.
