U.S. judge rules RadioShack IP auction was fair
(Reuters) – A U.S. bankruptcy judge on Wednesday cleared the way for RadioShack Corp to sell its brand name and customer data to a Standard General affiliate for about $26 million, rejecting a competing bidder’s claim that the auction process was unfai…
Five global banks to pay $5.7 billion in fines over rate rigging
NEW YORK (Reuters) – Five of the world’s largest banks, including JPMorgan Chase & Co and Citigroup Inc, were fined roughly $5.7 billion, and four of them pleaded guilty to U.S. criminal charges over manipulation of foreign exchange rates, authorities said on Wednesday.
Greece says it will default in June without aid from lenders
ATHENS (Reuters) – Greece will not be able to make a payment to the International Monetary Fund due on June 5 unless foreign lenders provide more aid, a senior ruling party lawmaker said on Wednesday, the latest warning from Athens that it is on the ve…
Takata doubling U.S. recall for defective air bags to 34 million vehicles
WASHINGTON/DETROIT (Reuters) – Japanese air bag manufacturer Takata Corp is doubling a recall of potentially deadly air bags to nearly 34 million vehicles, making it the largest automotive recall in American history, U.S. safety regulators said on Tues…
Italy calls Whirlpool’s redundancy plans ‘disgraceful’
ROME (Reuters) – A plan by the world’s largest home-appliance maker Whirlpool to cut almost 2,000 jobs in Italy is “disgraceful”, the Italian industry minister said on Wednesday, after the white goods group increased a redundancy target.
Lowe’s misses on profit; says harsh winter hurt promotions, sales
(Reuters) – Lowe’s Cos Inc , the No.2 U.S. home improvement chain by sales, reported lower-than-expected quarterly earnings on Wednesday as a long, harsh winter hurt sales growth, sending its shares down more than 5 percent.
Pernod prepares to take Cuban-made rum to the United States
(Corrects May 19 story. Corrects second and third paragraphs to make clear Bacardi does not own full U.S. rights to Havana Club)
Altice enters U.S. cable market with Suddenlink move
PARIS/FRANKFURT (Reuters) – European telecoms group Altice has agreed to buy U.S. regional cable company Suddenlink Communications in a $9.1 billion deal, marking its first move across the Atlantic where it is also interested in buying Time Warner Cabl…
GE speeds up target for GE Capital finance asset sales
(Reuters) – General Electric Co expects to unload about $100 billion in GE Capital assets this year, up from its target of $90 billion previously, according to a presentation for investors on Wednesday.
Five global banks to pay $5.7 billion in fines over rate rigging
NEW YORK (Reuters) – Five of the world’s largest banks, including JPMorgan Chase & Co and Citigroup Inc, were fined roughly $5.7 billion, and four of them pleaded guilty to U.S. criminal charges over manipulation of foreign exchange rates, authorities said on Wednesday.
