GM names Cadillac global brand chief
(Reuters) – General Motors Co has created the new position of global brand chief for Cadillac as the U.S. automaker looks to broaden global demand for the luxury line of vehicles.
UK, France closer on EADS-BAE merger as deadline nears
PARIS/LONDON (Reuters) – France and Britain made a breakthrough over state shares in a merger between EADS and BAE Systems, making an extension of a deadline for negotiations more likely but putting the two nations on a collision course with Germany.
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Wall Street falls, led by declines in technology
NEW YORK (Reuters) – U.S. stocks declined on Tuesday, led by losses in technology after brokerage downgrades of Intel and other major companies amid worries about third-quarter U.S. earnings.
UBS trader masked risk exposure of $12 billion, court told
LONDON (Reuters) – Alleged rogue trader Kweku Adoboli exposed Swiss bank UBS to billions of dollars of hidden market risk for weeks on end, peaking at nearly $12 billion on August 8 last year, a London court heard on Tuesday.
MetLife builds third-party asset management
NEW YORK (Reuters) – Metlife Inc said Tuesday it will build an asset-management business for outside investors focusing on investments in real estate equity, commercial mortgages and debt private placement.
Supreme court won’t review telecom immunity for surveillance
WASHINGTON (Reuters) – The U.S. Supreme Court on Tuesday refused to consider a challenge to a 2008 federal law granting immunity to AT&T Inc and other telecommunications companies for helping the government eavesdrop on customers’ private phone convers…
U.S. bank regulators to vote on final stress test rule
(Reuters) – U.S. bank regulators are set to vote on a plan requiring banks with more than $10 billion in assets to conduct annual stress tests to determine if they can withstand a financial shock.
U.S. shadow homes inventory lowest in over three years: CoreLogic
NEW YORK (Reuters) – The number of U.S. homes that could soon come onto the market fell to the lowest in more than three years as of July as distressed sales offset new delinquencies in an encouraging sign for the housing market, a data analyst firm sa…
IMF warns global economic slowdown deepens, prods U.S., Europe
TOKYO (Reuters) – The IMF said the global economic slowdown is worsening as it cut its growth forecasts for the second time since April and warned U.S. and European policymakers that failure to fix their economic ills would prolong the slump.
Spain gears for more painful austerity
MADRID (Reuters) – Spain will announce another round of unpopular austerity measures in a 2013 budget on Thursday, already prompting protests from a public battered by attempts to put the country’s finances in order.
