FedEx sees e-commerce driving record holiday season
CHICAGO (Reuters) – Package delivery company FedEx Corp should enjoy a record holiday peak season thanks to the continued rise of online consumer sales in the United States, company officials said on Wednesday.
Cheaper store brands eat into General Mills’ profit
(Reuters) – General Mills Inc reported a lower-than-expected quarterly profit as the maker of Cheerios cereal and Betty Crocker cake mixes lost further ground to cheaper store-branded foods amid rising demand for alternative breakfast options.
IPhone emerges from ‘bygone era’, reviewers hail bigger handset
(Reuters) – Bigger is better and Apple Inc has finally realized that and given iPhone users a product that may be low on novelty but high on improvements, reviewers wrote.
Boeing airplanes chief says considering 52 737s a month by 2018
NEW YORK (Reuters) – Boeing Co appears increasingly likely to boost production of its top-selling 737 jetliners to 52 a month starting in 2018 after the head of its commercial airplanes business spoke about that possibility on Tuesday.
Allianz eyes sale options in Fireman’s Fund revamp
FRANKFURT (Reuters) – German insurer Allianz will overhaul and may sell parts of its U.S. property and casualty business Fireman’s Fund after struggling for years to bring underwriting losses under control, the company said on Wednesday.
Airbus strategy chief Lahoud rules out bid to be Safran CEO
PARIS (Reuters) – Airbus Group strategy chief Marwan Lahoud indirectly ruled himself out as the next chief executive of French engine maker Safran on Wednesday, dampening recurring media speculation that he could leave Europe’s largest aerospace group….
U.S. current account gap narrows in the second quarter
Washington (Reuters) – The U.S. current account deficit unexpectedly narrowed in the second quarter, supported by a partial reversal of a large equity disinvestment that had occurred in the previous quarter.
Ultrasonic says top executives and cash missing
FRANKFURT (Reuters) – Ultrasonic AG, a Chinese footware maker listed in Germany, said most of its cash reserves in China and Hong Kong have disappeared, adding it has also lost trace of its chief executive and chief operating officer.
Embraer to sell 50 E-175 jets to Republic in $2.1 billion deal
SAO PAULO (Reuters) – Brazil’s Embraer SA, the world’s third largest commercial planemaker, said on Wednesday it booked a firm order from U.S. regional operator Republic Airways Holdings Inc. for 50 of its next-generation E-175 aircraft.
U.S. mortgage applications rise in latest week: MBA
NEW YORK (Reuters) – Applications for U.S. home mortgages rose last week as both purchase and refinancing applications jumped, an industry group said on Wednesday.
