United Airlines expects profit margin in lower range of outlook
(Reuters) – United Continental Holdings Inc said on Thursday its pretax profit margin for the second quarter will be in the lower range of its earlier outlook and said the strong U.S. dollar has hurt demand from travelers abroad.
Siemens exec says pricing pressures still high in turbine market
TORONTO (Reuters) – German industrial company Siemens AG has not seen an easing in pricing pressures in the gas-fired turbine market, the head of the company’s energy business said on Thursday.
Ex-accounting executive avoids prison in Madoff fraud case
NEW YORK (Reuters) – A former associate of Bernard Madoff avoided prison on Thursday for his role in perpetuating the fraudster’s massive Ponzi scheme because of his extensive cooperation with prosecutors.
Ford to move production of Focus, C-Max cars from Michigan
DETROIT (Reuters) – Ford Motor Co will move production of its Focus small cars and C-Max hybrids from its Michigan Assembly Plant near Detroit in 2018, it said on Thursday, highlighting difficulties U.S. automakers are having building fuel-efficient ve…
U.S. shippers push back in battle over Puerto Rico import costs
SAN FRANCISCO (Reuters) – Tensions over a 95-year-old shipping law have reignited after Puerto Rico’s governor said it has contributed to the island’s dire fiscal situation, a charge met with fierce resistance from the U.S. shipping industry but suppor…
Coty buying P&G beauty business for $12.5 billion
(Reuters) – Coty Inc , the U.S. maker of Calvin Klein and Chloe perfume, will buy Procter & Gamble’s perfume, hair care and make-up businesses for $12.5 billion in the biggest cosmetics merger in recent history.
China relief fuels Wall St. gains; Apple drops
(Reuters) – U.S. stocks closed higher on Thursday after Wall Street found relief in Beijing’s efforts to halt a rout in Chinese stocks, which lifted markets around the world.
NYSE says software problem led to trading outage
NEW YORK (Reuters) – The New York Stock Exchange said its nearly four-hour trading halt on Wednesday resulted from a technical problem that stemmed from new software rolled out the previous evening.
China fears propel Apple shares toward five-day losing streak
SAN FRANCISCO (Reuters) – Apple Inc’s stock was heading toward its first five-session losing streak since January on Thursday as investors worried about the economic health of China, a key market for iPhones.
Former trader Hayes denies trades were bribes for brokers, Libor trial hears
LONDON (Reuters) – Tom Hayes, the former trader on trial over rate-rigging charges, denied on Thursday that fake trades he had performed to generate commissions for brokers amounted to bribes for their help in manipulating benchmark interest rates.
