Chrysler profit up amid investor concerns over merger with Fiat
DETROIT (Reuters) – Amid concerns that Fiat shareholders will prevent a merger of the Italian automaker with Chrysler Group, the American automaker reported that second-quarter profit was up 22 percent to $619 million.
U.S. trade deficit narrows as petroleum imports fall
WASHINGTON (Reuters) – The U.S. trade deficit narrowed more than expected in June as petroleum imports dropped to a 3-1/2 year low, suggesting that trade was less of a drag on second-quarter economic growth than initially thought.
Fed does not object to Bank of America capital plan
WASHINGTON (Reuters) – The U.S. Federal Reserve said on Wednesday it had approved a resubmitted capital plan from Bank of America , part of an annual stress test of banks’ financial robustness.
Russia, weak data weigh on nervous Europe
LONDON (Reuters) – European stocks fell on Wednesday while nervous investors took refuge in high-rated bonds as Russia amassed troops on its border with Ukraine, raising concerns among western powers that it could invade.
AOL revenue beats Street as advertising sales jump
(Reuters) – Digital media and entertainment company AOL Inc reported better-than-expected quarterly revenue, helped by a 60 percent jump in advertising revenue in its third-party platform.
Sprint drops bid to buy T-Mobile after regulatory resistance
(Reuters) – Sprint Corp has dropped its bid to acquire No. 4 U.S. carrier T-Mobile U.S. Inc after regulatory resistance showed no signs of softening despite months of lobbying, people familiar with the matter told Reuters.
Exclusive: Wells Fargo loosens standards for jumbo mortgages
NEW YORK (Reuters) – Wells Fargo & Co has relaxed its standards for loans for some high-priced homes as the largest U.S. mortgage lender tries to combat an industry-wide drop in mortgage volumes.
IATA still sees improved airline profits as June demand rises
BERLIN (Reuters) – The International Air Transport Association said it was still optimistic the industry would report improved profits this year although highlighted risks from conflict and the Ebola outbreak as possible obstacles.
China says to punish Audi, Chrysler for monopoly behavior
SHANGHAI/BEIJING (Reuters) – China’s antitrust regulator said on Wednesday it would punish Audi and Chrysler for monopoly practices, potentially paving the way for the automakers to be fined up to 10 percent of their domestic annual sales revenue in th…
Fiat falls 8.5 percent, traders cite Chrysler merger concerns
MILAN (Reuters) – Shares in Fiat fell more than 8.5 percent on Wednesday to their lowest level this year, with traders citing concerns that investors who voted against the Italian carmaker’s merger with Chrysler would exercise their right to sell the s…
