U.S. industrial output hurt by weakness in manufacturing, mining
WASHINGTON (Reuters) – U.S. industrial production unexpectedly fell in May as manufacturing and mining activity remained weak, a sign that a strong dollar and spending cuts in the energy sector continued to constrain economic growth.
Paris show shifts focus from deal-making to plane-making
PARIS (Reuters) – After the marketing triumphs of recent years, manufacturing moved into the spotlight on the opening day of the Paris air show on Monday as planemakers Airbus and Boeing battle to deliver a record $1.8 trillion backlog of orders.
GM plaintiffs add racketeering claim to recall lawsuits
NEW YORK (Reuters) – Plaintiffs suing General Motors Co over a series of safety-related recalls last year have accused it of working with a law firm and claims-management company to conceal an ignition-switch defect linked to 114 deaths.
Fed on track for September rate hike as economy picks up: Reuters poll
NEW YORK (Reuters) – The U.S. Federal Reserve is on track to raise interest rates for the first time in nearly a decade in September, according to a Reuters poll that suggests economists now are mostly confident about that timing.
Citi faces headwinds in commodity trade finance, presses on with expansion
LONDON (Reuters) – Citigroup Inc and rivals in the commodity trade finance sector are facing headwinds of weak oil prices, sanctions on Russia and stiff competition, which have pressured fees.
Volkswagen to be revamped into four holding companies: sources
BERLIN/FRANKFURT (Reuters) – Volkswagen’s corporate structure will be overhauled into a decentralized system with four holding companies in a bid to boost profits at Europe’s largest carmarker, three VW sources said on Monday.
U.S. home builder sentiment rises in June: NAHB
NEW YORK (Reuters) – U.S. homebuilder sentiment rose more than expected in June, hitting its highest level since September, the National Association of Home Builders said on Monday.
More foreign pension funds oppose Toyota ‘Model AA’ shares
TOKYO (Reuters) – Three foreign funds on Monday said they would oppose Toyota Motor Corp’s proposal to issue a new class of shares, joining an influential California pension fund in objecting to a sale that critics say favors Japanese retail investors….
Greece contagion sweeps euro zone bond markets, hits shares
LONDON (Reuters) – Global financial markets suffered their first bout of significant contagion from the Greek crisis this year on Monday after 11th hour talks between the near bankrupt country and its creditors collapsed.
Alwaleed backs Twitter interim CEO Dorsey, says brings continuity
RIYADH (Reuters) – Saudi Arabia’s Prince Alwaleed bin Talal, one of Twitter’s earlier investors, told Reuters he believed Jack Dorsey would bring continuity to the social messaging firm and he would back him if he wished to become chief executive perma…
