Spanish recluse behind Zara briefly becomes world’s richest man
MADRID (Reuters) – Amancio Ortega, who transformed clothing group Inditex from a tiny family dressmaker into Spain’s biggest company, briefly overtook Bill Gates on Friday to become the world’s richest man.
P&G sees organic sales growth from current quarter
(Reuters) – Procter & Gamble Co reported a higher-than-expected quarterly profit and said it expected organic sales to grow from the current quarter as it moves through a “portfolio cleanup.”
United Air reaches tentative deal with wage hike for maintenance workers
(Reuters) – United Airlines said on Friday it reached a tentative deal with the union representing its maintenance workers, paving the way for a wage hike and the first contract to cover technicians from both United and Continental since the airlines m…
Valeant’s looming M&A hiatus deals blow to investment banks
NEW YORK (Reuters) – The controversy surrounding Valeant Pharmaceuticals’ strategy and its market slide this week are bad news for Wall Street investment banks that stand to lose one of their best clients.
Kellogg in talks to buy Diamond Foods for $1.5 billion: NY Post
(Reuters) – Kellogg Co , which makes Corn Flakes and Rice Krispies, is in late-stage talks to buy snack foods company Diamond Foods Inc for more than $1.5 billion, the New York Post reported on Friday, citing unnamed sources.
GM to cut 500 jobs, eliminate shift at small-car plant near Detroit
DETROIT (Reuters) – General Motors Co will cut 500 jobs as a shift is eliminated at a plant near Detroit that makes weak-selling small cars, the company said on Friday.
China cuts rates again as growth engine stalls
BEIJING (Reuters) – China’s central bank cut interest rates on Friday for the sixth time in less than a year, and it again lowered the amount of cash that banks must hold as reserves in a bid to jump start growth in its stuttering economy.
Thomson Reuters third-quarter sales dip on strong dollar
(Reuters) – Thomson Reuters Corp on Friday reported third-quarter sales that missed estimates due in part to the strong dollar, but the news and information company’s profits beat Wall Street expectations.
General Motors’ Opel denies violating EU emissions standards
BERLIN (Reuters) – General Motors’ Opel division has denied violating European environmental standards after researchers claimed to have found excessive nitric oxide emissions for the carmaker’s Zafira model.
Oil rises after China interest rate cut
LONDON (Reuters) – Oil prices rose on Friday after China’s central bank cut its borrowing rates, boosting hopes for stronger demand from the world’s top energy consumer.
