Germany’s Continental to buy U.S. firm Veyance for $1.9 billion
BERLIN (Reuters) – German tire and car parts maker Continental has agreed to buy U.S. private equity investor Carlyle Group’s Veyance Technologies, which once belonged to its rival Goodyear , for 1.4 billion euros ($1.9 billion).
Detroit will file plan to adjust its debt next week: attorney
DETROIT (Reuters) – Detroit will file a plan to adjust its debt with the Bankruptcy Court next week, an attorney representing the city told the judge overseeing the case on Monday.
Alibaba offers to buy digital mapping company AutoNavi
(Reuters) – Alibaba Group Holding Ltd, China’s largest e-commerce firm, offered to buy AutoNavi Holdings Ltd in a deal valuing the Chinese digital mapping and navigation firm at $1.58 billion.
Exclusive: Duo tracks double-dipping in U.S. oil firms’ toxic tank cleanup
BIRMINGHAM, Alabama (Reuters) – A pioneer in cleaning up toxic messes, Thomas Schruben long suspected major oil companies of being paid twice for dealing with leaks from underground fuel storage tanks – once from government funds and again, secretly, f…
Europe, China help McDonald’s offset soft U.S. sales in January
(Reuters) – McDonald’s Corp on Monday reported better-than-expected global sales at established restaurants for January as gains in Europe and China helped the company offset weak numbers in United States, where customers remained cautious in their spe…
Excess euro zone liquidity seen near current levels at end of first-quarter: poll
BANGALORE (Reuters) – Excess liquidity in the euro zone will be near current levels at the end of this quarter as banks slow repayments of their crisis loans, according to a firm majority of traders in a Reuters poll.
Nissan could sacrifice market share goal to boost profitability
YOKOHAMA, Japan (Reuters) – Nissan Motor Co could sacrifice its global market share goal to reach its mid-term profitability target after slower-than-expected sales in its biggest markets left its profit margin the tightest among Japanese car makers.
Barclays seen cutting more costs after profit drop
LONDON (Reuters) – Barclays said earnings dropped by a quarter to 5.2 billion pounds ($8.5 billion) last year from the year before, missing analysts’ forecasts and raising expectations the bank will step up cost cutting as investment bank earnings wane…
Boeing sees Asia-Pacific fleet nearly tripling over 20 years
SINGAPORE (Reuters) – The world’s biggest planemaker Boeing expects nearly half of the world’s air traffic growth will be driven by the Asia-Pacific region over the next 20 years, but is monitoring local currencies to assess airlines’ ability to meet o…
UBS puts two on leave over hiring of Chinese banker: IFR
HONG KONG (Reuters) – Swiss bank UBS AG has put two bankers on leave as part of an internal investigation into the hiring of a close relative connected to a potential Chinese corporate client, IFR reported on Monday.
