Goldman compliance head queried internship in Libya fund case, court told
LONDON (Reuters) – A Goldman Sachs compliance chief raised concerns about an internship the bank provided for the brother of a decision-maker at Libya’s sovereign wealth fund, a court heard on Tuesday.
McDonald’s wins EU ‘MacCoffee’ trademark dispute
STRASBOURG – McDonald’s won a trademark dispute with a Singapore rival on Tuesday as Europe’s second highest court backed its claim to have exclusive rights to the use of ‘Mc’ or ‘Mac’ in trademark names for foodstuffs and beverages.
Twinkies maker Hostess to go public under new owner
(Reuters) – Hostess Brands LLC, the maker of Twinkies and Ding Dongs, said on Tuesday it will be bought in a $725 million deal by an affiliate of private equity company Gores Group, which will then take it public.
U.S. factory orders fall, but rising backlogs hint at stabilization
WASHINGTON (Reuters) – New orders for U.S. factory goods fell in May on weak demand for transportation and defense capital goods, but growing order backlogs and lean inventories suggested the worst of the manufacturing downturn was probably over.
Bank of England takes steps as Brexit risks appear, pound falls
LONDON (Reuters) – The Bank of England took steps on Tuesday to ensure British banks keep lending as the financial consequences of the country’s decision to leave the European Union began to materialize, especially in commercial real estate.
‘Sweetest’ town clings to Hershey, adding to takeover hurdles
HERSHEY, Pennsylvania (Reuters) – The town of Hershey, Pennsylvania, calls itself the “sweetest place on earth.”
Air cargo firms feel the pressure from plunge in freight prices
BERLIN (Reuters) – Following a sharp fall in freight prices air cargo companies are set to trim their fleets and jobs further to battle overcapacity while looking for new partnerships and products to carry, industry executives and analysts say.
Ford 2011-2015 Explorers probed by U.S. on possible exhaust leaks
DETROIT (Reuters) – U.S. safety officials from the National Highway Traffic Safety Administration have opened an investigation into possible exposure to carbon monoxide in recent models of the Ford Motor Co Explorer SUVs, the regulator’s website showe…
Credit Suisse merges fixed income with equities in Asia Pacific
HONG KONG (Reuters) – Credit Suisse is merging its fixed income and equities divisions in Asia Pacific, according to an internal memo seen by Reuters on Tuesday, as the Swiss bank overhauls its global markets businesses.
Lufthansa, cabin crew agree sweeping pension changes, three-and-a-half year pay deal
BERLIN (Reuters) – Lufthansa and its main cabin crew union have agreed a new 3.5 year pay deal for 19,000 staff plus a change in pensions to move away from defined benefit pensions to a defined contribution scheme, as is typical for many other major E…
