Robust U.S. consumer spending buoys economic growth outlook
WASHINGTON (Reuters) – U.S. consumer spending recorded its largest increase in nearly six years in May on strong demand for automobiles and other big-ticket items, further evidence that economic growth was accelerating in the second quarter.
Greek pledges rest on hard-to-keep promise of tax reforms
ATHENS (Reuters) – When Greece’s tax police squad raided a busy cafe-restaurant in an upscale central Athens district earlier this year, it discovered two cash registers and an elaborate system of issuing fake receipts — at least 15,000 of them, over …
Citigroup combines retail banking and mortgage operations
(Reuters) – Citigroup Inc will combine its retail banking and mortgage operations under Jonathan Larsen, the current global head of retail banking, according to an internal memo seen by Reuters.
Barnes & Noble reports loss again as Nook sales plunge
(Reuters) – Barnes & Noble Inc reported a fall in sales for the fourth consecutive quarter as demand for the company’s Nook tablets continued to fall and customers stayed away from its brick-and-mortar bookstores.
Subaru recalls 72,000 vehicles in U.S. for possible auto brake failure
DETROIT (Reuters) – Subaru is recalling 72,000 newer-model vehicles in the United States because the automatic pre-collision braking part of the driver-assist system could fail, increasing the risk of a crash, according to documents posted online by U….
Goodyear to shut down UK manufacturing plant, cut 360-390 jobs
(Reuters) – Goodyear Tire & Rubber Co , the largest U.S. tire maker, said it would shut down its UK manufacturing plant and transfer production to plants across Europe, Middle East and Africa (EMEA) to reduce costs.
General Mills to cut jobs under new restructuring plan
(Reuters) – General Mills Inc , the maker of Cheerios cereal and Betty Crocker cake mixes, said it would cut 675-725 jobs in its international business under a new restructuring plan aimed at cutting costs and boosting growth.
Pirates and hold-ups: crime strikes Venezuela’s oil industry
MARACAIBO, Venezuela (Reuters) – When night falls over western Venezuela, armed gangs known as “pirates” sometimes ride boats into muggy Lake Maracaibo to steal equipment from oil wells.
U.S. consumer spending posts largest gain in nearly six years
WASHINGTON (Reuters) – U.S. consumer spending recorded its largest increase in nearly six years in May on strong demand for automobiles and other big-ticket items, further evidence that economic growth was gathering momentum in the second quarter.
Takata CEO says internal probe into failing airbags not progressing well
TOKYO (Reuters) – The head of Japan’s Takata Corp said an internal probe into its potentially deadly air bag inflators was not progressing well, but vowed to stay at the helm until trust in the safety of its products was restored.
