Delphi CEO to be on U.S. Senate panel hot seat in GM probe
WASHINGTON (Reuters) – The head of Delphi Automotive Plc, maker of ignition switches linked to at least 16 fatal car crashes, is expected to face intensive questioning next week from a U.S. Senate panel investigating General Motors Co’ handling of the …
Wall St. drops on earnings caution; Dow below 17,000
NEW YORK (Reuters) – U.S. stocks fell in a broad selloff on Tuesday, dropping for a second straight session and driving the Dow below 17,000 as investors turned cautious before the start of earnings season.
Alcoa pledges finished products push as results beat Wall Street
(Reuters) – Alcoa Inc’s chief executive officer said on Tuesday the aluminum company would push deeper into the market for more profitable finished products like truck wheels and aircraft fuselages as it reported quarterly results that beat analysts’ e…
America Movil aims to cut Mexico market share below 50 percent
MEXICO CITY (Reuters) – Billionaire Carlos Slim’s America Movil said on Tuesday its board voted to sell off assets to cut its Mexico telecommunications market share below 50 percent in order to avoid tough new regulations designed to curb its long-held…
India’s onion crisis: shortages after the best-ever harvest
PACHORE WANI India (Reuters) – Indian farmer Ranganath Watpade made a killing last year by putting off selling his onions until four months after he harvested them. This year, the same trick has backfired.
Crumbs closes in bitter end for biggest U.S. cupcake chain
NEW YORK (Reuters) – Cupcakes still lined the counter of an empty and unlit Crumbs Bake Shop on 42nd Street in New York City on Tuesday afternoon, the day after the largest U.S. cupcake retailer announced it was closing.
U.S. stock valuation metrics make strategists nervous
NEW YORK (Reuters) – The S&P 500 is closing in on the vaunted 2,000 mark, but a growing number of strategists, looking at common measures of valuation, are wondering if it is justified.
Rengan Rajaratnam cleared, U.S. insider trading streak snapped
NEW YORK (Reuters) – Rengan Rajaratnam, the younger brother of convicted Galleon Group founder Raj Rajaratnam, was cleared on Tuesday of conspiring to engage in insider trading while at the hedge fund, ending a five-year winning streak by U.S. prosecut…
Mexico lower house gives general approval to telecoms bill
MEXICO CITY (Reuters) – Mexico’s lower house of Congress on Tuesday gave general approval to legislation needed to implement a reform of phone and TV markets that seeks to rein in telecoms tycoon Carlos Slim and broadcaster Televisa.
China’s yuan global ambition faces payments hurdle
BEIJING/HONG KONG (Reuters) – China’s quest to turn its yuan into a full-fledged global currency has hit a road-block as the planned roll-out of a worldwide payments superhighway looks certain to get delayed because of policy snags and technology chall…
