P&G hits back at Peltz, says investor not entitled to board seat
(Reuters) – Procter & Gamble blasted Nelson Peltz’s efforts to join the consumer goods conglomerate’s board, saying the investor was not entitled to a seat and that he was being wrongly advised by people who were not in tune with the company’s operations.
Brazil regulator approves Mosaic purchase of Vale fertilizer unit
SAO PAULO (Reuters) – A Brazilian regulator has approved the acquisition of miner Vale’s fertilizer unit by U.S.-based Mosaic without restrictions, according to a notice in the official government newspaper published Tuesday.
CSX top executive blames employee push-back on service disruptions
SEATTLE (Reuters) – CSX Corp Chief Executive Hunter Harrison has apologized to customers for service disruptions that he blamed on some railroad employees resisting changes at the company, according to an email seen by Reuters, as a shipper survey foun…
U.S. spending, factory data point to moderate economic growth
WASHINGTON (Reuters) – A gauge of U.S. factory activity slid from a near three-year high in July amid a slowdown in new orders and consumer spending barely rose in the prior month, setting the stage for a moderate economic expansion in the third quarte…
Dow ascends to record high and nears 22,000
(Reuters) – The Dow Jones Industrial Average racked up a fifth straight record high on Tuesday and neared the 22,000 mark, powered by Goldman Sachs, JPMorgan Chase and other banks.
U.S. auto sales fall in July as carmakers slash rental fleet sales
DETROIT (Reuters) – U.S. carmakers said on Tuesday they continued to slash low-margin sales to daily rental fleets in July as the overall pace of U.S. car and light truck sales fell for the fifth straight month.
German chipmaker Infineon to supply Tesla Model 3
FRANKFURT/MUNICH (Reuters) – Infineon will supply parts to Tesla’s upcoming mass-market Model 3 electric car, the German chipmaker said on Tuesday, after being beaten out as initial supplier by Franco-Italian rival STMicroelectronics for the coveted …
Bayer offers concessions to EU Commission for Monsanto deal
BRUSSELS (Reuters) – The European Commission said Germany’s Bayer had submitted commitments aimed at easing competition concerns over its $66 billion takeover of U.S. agrochemicals group Monsanto , suggesting the company aims to avoid a lengthy review…
Apple doubles down on China as rivals pull ahead
SHANGHAI/BEIJING (Reuters) – Apple Inc is binding itself more closely to China as its share of the world’s biggest smartphone market slips and it becomes more reliant on selling services which require government approval.
Apple seeks tax breaks for suppliers to make iPhones in India: sources
NEW DELHI (Reuters) – Apple Inc has asked the Indian government to extend tax breaks to its suppliers if India seeks to become a manufacturing hub for iPhones and its components.
