Barclays joins retreat from commodities as new rules bite
LONDON (Reuters) – Barclays will quit most of its commodities trading businesses, joining a broader retreat by banks as profits tumble in the face of tougher regulation.
Lilly eyes emerging markets in Novartis animal-health deal
PARIS (Reuters) – The purchase of Novartis’ animal-health business will strengthen Eli Lilly’s hand in emerging markets, tapping into growing demand there for protein-rich diets and household treatments for pets, a senior executive at the U.S. group sa…
Barclays joins retreat from commodities as new rules bite
LONDON (Reuters) – Barclays is to quit most of its commodities trading businesses, it said on Tuesday, joining a retreat prompted by falling profitability in the face of tougher regulation.
Toyota wants to use more hybrid system parts made in China
CHANGSHU, China (Reuters) – Toyota Motor Corp wants locally procured parts to make up at least half the components in the gasoline-electric hybrid propulsion systems for the Corolla and Levin cars it plans to start making in China next year.
United Tech broad revenue growth helps profit beat Street
(Reuters) – United Technologies Corp reported a higher-than-expected quarterly profit on Tuesday, helped by revenue growth across its aerospace and commercial building segments and strong sales in China.
Tesla expects big investment on charging stations in China
BEIJING (Reuters) – U.S. electric carmaker Tesla Motors Inc expects to invest “hundreds of millions of dollars” building charging outlets in China, which could become its biggest global market next year, billionaire co-founder Elon Musk said.
Apparel retailer Bebe warns on results as sales slide
(Reuters) – Women’s apparel retailer Bebe Stores Inc warned of a bigger-than-expected quarterly loss as extremely cold weather in parts of the United States cut sales.
Norwegian Air cabin crew threaten strike
OSLO (Reuters) – Norwegian Air Shuttle cabin crew members could go on strike as soon as next week if mandatory government mediation over pensions and the carrier’s recent reorganization fail, labor union Parat said on Tuesday.
Bank of New York Mellon reports first-quarter profit
(Reuters) – Bank of New York Mellon Corp reported a first-quarter profit on Tuesday as rising markets drove up its assets under custody and administration.
Japan’s Mizuho names ex-minister as chairwoman in management revamp
TOKYO (Reuters) – Scandal-hit Mizuho Financial Group has nominated former economy minister Hiroko Ota as chairwoman, as Japan’s second-largest bank strives to improve corporate governance by bringing in more outsiders.
