More U.S. retailers probing phony Egyptian cotton
CHICAGO/NEW DELHI (Reuters) – U.S. retailer Bed Bath & Beyond on Wednesday said it ordered an external audit of textiles from Welspun India , after Target Corp last week accused the Indian manufacturer of passing off cheap sheets as premium Egyptian cotton for two years.
EU, Portugal agree on 5 billion euro recapitalization for ailing bank CGD
LISBON/BRUSSELS (Reuters) – The European Commission and Portugal have agreed in principle on the recapitalization, on market terms, of ailing state-owned bank CGD, envisaging an injection of up to 2.7 billion euros ($3 billion) in state funds and nearl…
Poland seeks investigation into KGMH’s Quadra FNX purchase
WARSAW (Reuters) – Poland’s Internal Security Agency (ABW) has asked prosecutors to investigate copper miner KGHM over the purchase of a Canadian firm with metal deposits in Chile, the secret services minister said on Wednesday.
Libor rise, driven by U.S. money market rules, seen topping near 1.0 percent
NEW YORK (Reuters) – Interest rates for banks to borrow U.S. dollars for three months are likely to rise further before topping out near 1.0 percent, unless the Federal Reserve raises interest rates by year-end, market watchers say.
Lufthansa cabin crew union sees approval of new pay deal
FRANKFURT (Reuters) – Cabin crew at Lufthansa are expected to vote in favor of a wide-ranging pay deal with the German carrier, bringing a long-running dispute to a close, according to a labor boss.
Ford to recall 91,000 cars worldwide to fix fuel-pump issue
(Reuters) – Ford Motor Co said on Wednesday it was recalling about 91,000 vehicles worldwide to replace faulty fuel-pump parts that could potentially cause a car to stall without warning.
VW sees car output back to normal by Monday after supplier deal
HAMBURG/BERLIN (Reuters) – Volkswagen said on Wednesday production of cars at its German plants should be back to normal by next Monday after it resolved a dispute with parts suppliers over contract terms.
Rolls-Royce wins $1.5 billion engine order with China Eastern Airlines
LONDON (Reuters) – British engineering company Rolls-Royce said it won a $1.5 billion order for its Trent 700 engines from China Eastern Airlines to power 15 of the Chinese carrier’s Airbus A330 aircraft.
Express Inc’s shares tumble as results miss amid apparel cheer
(Reuters) – Express Inc lost more than a quarter of its market value on Wednesday as its lower-than-expected results belied a recent uptick in apparel sales that has helped most retailers.
U.S. appeals court sends BlackBerry lawsuit back to lower court
NEW YORK (Reuters) – A U.S. appeals court on Wednesday upheld the dismissal of a lawsuit accusing BlackBerry Ltd of fraudulently inflating its stock price by painting an upbeat picture of the prospects for its BlackBerry Z10 smartphone line that was mi…
