Wall Street drops as China stock slump stokes growth fears
(Reuters) – Wall Street sank on Monday, with the Nasdaq losing almost 1 percent after the steepest decline in Chinese stocks in eight years increased concerns that cooling growth in the world’s No. 2 economy could hurt China’s trading partners.
Baidu profit weighed down by offline mobile services push
(Reuters) – Baidu Inc’s quarterly profit missed analysts’ estimates as China’s biggest Internet search company spent heavily to diversify away from its core search advertising business, which is becoming less profitable and more competitive.
McGraw Hill Financial to buy SNL Financial for $2.23 billion
(Reuters) – McGraw Hill Financial Inc , parent of Standard & Poor’s ratings agency, said it would buy data company SNL Financial for about $2.23 billion, and its shares fell nearly 6 percent.
U.S. private sector vows to ante up on climate finance
WASHINGTON (Reuters) – Some of the biggest U.S. corporate names on Monday offered their support – and billions of dollars in green financing pledges – to buttress the Obama administration’s quest for a global agreement on combating climate change.
Toyota’s Scion aims to double U.S. sales by 2017
DETROIT (Reuters) – The youth-oriented Scion brand will double U.S. sales to above 100,000 by 2017 on the strength of three new offerings, two of which go on sale in September, the head of the 12-year-old Toyota Motor Corp brand said.
BlackRock dives into private deals as banks shy away
(Reuters) – BlackRock Inc is on the prowl for energy and infrastructure projects in the United States, Mexico and Asia that its institutional clients can invest in, Mark McCombe, head of BlackRock’s institutional business, said in an interview last wee…
Syngenta says Monsanto’s $2 billion break-up fee comes with caveat
FRANKFURT (Reuters) – Syngenta has said a $2 billion break-up fee that unwanted U.S. suitor Monsanto has pledged to pay if its proposed $45 billion merger failed would only apply in limited cases, leaving its shareholders exposed to the bulk of regulat…
Alstom shells out again to keep GE deal on track
PARIS (Reuters) – Alstom is to accept 300 million euros ($333 million) less than previously agreed for its power turbines unit from General Electric as a contribution to the U.S.-based buyer’s efforts to win antitrust clearance in Europe.
Mitsubishi Motors production hubs will be Japan, SE Asia, Russia
TOKYO (Reuters) – The president of Mitsubishi Motors Corp said Japan, Southeast Asia and Russia will become the automaker’s principal production hubs after it quits making cars in the United States later this year because of dwindling sales there.
Norfolk South profit dented by lower coal and fuel surcharges
CHICAGO (Reuters) – U.S. railroad Norfolk Southern Corp on Monday reported a lower quarterly net profit as coal freight shipments and fuel surcharge revenue fell, and said coal would continue to weigh on results this year.
