U.S. union voting shows support for Fiat Chrysler pact
DETROIT (Reuters) – United Auto Workers union members showed overwhelming support in early voting returns on Wednesday night for a proposed four-year labor contract with Fiat Chrysler Automobiles NV , according to local union hall websites.
As China weakens, recession stalks North Asia
(Reuters) – The slowdown in China’s economy, the world’s second largest, is sucking the growth out of North Asia and tilting some economies toward recession.
Veteran banker John Thain to retire as CIT CEO next year
(Reuters) – CIT Group Inc said Chief Executive Officer John Thain, who was appointed to turn around the commercial lender after its bankruptcy, will retire in March and be replaced by veteran banking executive Ellen Alemany.
EBay’s profit beat shows there’s life after PayPal
(Reuters) – EBay Inc reported a stronger-than-expected quarterly profit and raised its full-year adjusted profit forecast, helping to allay concerns about the company’s prospects following the spinoff of PayPal, its main engine of growth.
Wall St. declines; Valeant, healthcare weigh
(Reuters) – U.S. stocks fell on Wednesday as a sharp drop in Valeant Pharmaceuticals hit the healthcare space, while the energy sector dropped along with oil prices.
AmEx profit misses estimates as costs rise, dollar hurts
(Reuters) – American Express Co, the world’s largest credit card issuer, reported a quarterly profit that missed analysts’ estimates as costs rose and a strong dollar ate into revenue from its international business.
Lululemon’s product chief to leave in organizational shuffle
VANCOUVER (Reuters) – Lululemon Athletica Inc said on Wednesday that its chief product officer is leaving after just two years with the premium yogawear retailer, which has struggled in recent months with narrowing margins and supply-chain hiccups.
Western Digital to buy SanDisk in $19 billion deal
(Reuters) – Hard-disk drive maker Western Digital Corp agreed to buy SanDisk Corp in a $19 billion deal that will increase its ability to make flash memory storage chips used in smartphones and tablets.
Valeant shares plunge on short-seller scrutiny of pharmacy revenue
NEW YORK (Reuters) – Valeant Pharmaceuticals International Inc’s stock plunged as much as 40 percent on Wednesday after an influential short-seller accused the company of using specialty pharmacies to inflate its revenue, an allegation that the drugmak…
Exclusive: China-made regional jet set for delivery, but no U.S. certification
SINGAPORE/BEIJING (Reuters) – China’s first domestically designed passenger jet will be delivered without U.S. certification, a potential dent to both the aircraft’s international credibility and to joint safety efforts by Chinese and U.S. regulators.
