SEC joins German investigation of Ford: source
BERLIN (Reuters) – The United States’ securities watchdog is helping German prosecutors to investigate the alleged payment of bribes by Ford to speed the passage of containers through Russian customs, a source at the U.S. carmaker said on Tuesday.
Home Depot sales beat amid U.S. housing recovery
(Reuters) – An improving U.S. housing market helped Home Depot Inc beat quarterly sales forecasts on Tuesday, and the world’s No. 1 home-improvement retailer lifted its full-year earnings and revenue forecasts.
Wall Street, Europe dip after Chinese stocks tumble
NEW YORK (Reuters) – A 6 percent tumble in Chinese shares on Tuesday hit Asian stocks and dented U.S. equities while copper and oil prices touched multi-year lows.
‘Flash’ events hurt market liquidity for days: N.Y. Fed blog
NEW YORK (Reuters) – Excessive price moves and reversals in a span of minutes, also known as “flash” events, have hurt liquidity in the stock, bond and currency markets for days, according to a New York Federal Reserve blog released on Tuesday.
Abercrombie to create six new roles in management revamp: WSJ
(Reuters) – Struggling teen apparel retailer Abercrombie & Fitch Co is creating six new positions as it restructures the management of its Abercrombie brand, the Wall Street Journal reported.
Hyundai replaces China executives after sales slump
SEOUL (Reuters) – Hyundai Motor Co and sister firm Kia Motors Corp replaced three China executives, the South Korean carmaker said on Tuesday, after sales skidded in the country, the group’s largest market.
Carlos Slim wants Mexican Carlos Jarque as FCC CEO: report
MADRID (Reuters) – Mexican magnate Carlos Slim, the main shareholder of FCC , wants to appoint a senior manager from America Movil as chief executive of the Spanish construction firm, Spanish daily Cinco Dias said on Tuesday.
Falling ruble leaves Russian carmakers with nowhere to turn
MOSCOW (Reuters) – A steep decline in the rouble has hammered Russian carmakers by driving up the cost of the foreign parts they rely on, forcing them to raise prices at home and making them uncompetitive abroad.
Exclusive: U.S. graft probes may cost Petrobras record $1.6 billion or more – source
RIO DE JANEIRO/NEW YORK (Reuters) – Brazil’s Petrobras may need to pay record penalties of $1.6 billion or more to settle U.S. criminal and civil probes into its role in a corruption scandal, a person recently briefed by the company’s legal advisors to…
Urban Outfitters says comparable sales may be slower in third quarter
(Reuters) – Urban Outfitters Inc on Monday said same-store sales growth so far in the third quarter was slower than in the previous three months, raising concerns about the apparel retailer’s performance in the back-to-school shopping season.
