Tata patriarch’s aviation ambitions a step closer as India opens up
NEW DELHI (Reuters) – Officially at least, Ratan Tata, patriarch of one of India’s wealthiest business families, retired in late 2012. In reality, he has been a driving force behind Tata’s bet on airlines and a rare public campaign to open up the boomi…
Japan’s June flash manufacturing PMI contracts for fourth straight month
TOKYO (Reuters) – Japanese manufacturing activity contracted in June at roughly the same pace as the previous month, a preliminary survey showed, but concerns remain due to supply chain disruptions from an earthquake in April and falling exports.
Brazil judge grants 180-day stay for Oi in record bankruptcy case
SAO PAULO (Reuters) – Shares of Brazilian telecom firm Oi SA recovered on Wednesday after a judge weighing the country’s biggest-ever bankruptcy filing granted a 180-day stay of further legal actions while he considered the merits of the case.
Fed’s Yellen says no special meetings scheduled over Brexit
WASHINGTON (Reuters) – Federal Reserve Chair Janet Yellen said she has not scheduled special meetings for Friday or Saturday in order to respond to the “Brexit” vote in Britain over its membership in the European Union.
Southeast Asia steelmakers bid to emerge from China’s shadow
HANOI/BANGKOK (Reuters) – As a construction boom spurs steel demand across Southeast Asia, countries such as Vietnam, Indonesia and Thailand are challenging a flood of imports from China by retooling their steelmaking technology or imposing tariffs.
Fiat Chrysler speeds recall fix for 1.1 million rollaway vehicles
WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV said on Wednesday it is speeding up its software fix for 1.1 million recalled vehicles for rollaway risks like the recalled Jeep Grand Cherokee involved in the death of actor Anton Yelchin.
Viacom board stays in place as judge steers away from Redstone competence question
WILMINGTON, Del. (Reuters) – Viacom Inc’s directors can stay in place, at least for now, as a Delaware judge said at a hearing on Wednesday that a legal fight over who should sit on the media company’s board may turn on the mental competence of 93-yea…
Some mortgage servicers break U.S. rules, mostly due to technology: consumer bureau
WASHINGTON (Reuters) – Some mortgage servicers are failing to follow federal rules intended to help struggling borrowers avoid foreclosure, often because they use faulty technology, the U.S. agency charged with protecting consumers’ finances said on We…
Wall Street dips, all eyes on British referendum
(Reuters) – U.S. stocks dipped in low trading volume on Wednesday, with traders focusing on Thursday’s referendum on whether Britain will remain part of the European Union.
Platinum Partners raided by federal agents amid dual investigations
NEW YORK (Reuters) – Agents from the Federal Bureau of Investigation and the U.S. Postal Inspection Service raided the New York headquarters of hedge fund firm Platinum Partners Wednesday morning, according to a person familiar with the situation.
