Boeing sees ‘tough’ defense business climate, flat margins
(Reuters) – Boeing Co expects its defense business to continue facing a tough environment with “flatish” profit margins, Chief Executive Jim McNerney said on Wednesday.
Fed’s Lockhart says taper on track, urges patience on rates
BIRMINGHAM, Alabama (Reuters) – The U.S. Federal Reserve will probably keep steadily dialing back its asset purchases and wind them down completely by late 2014 but should be patient on raising interest rates, a top U.S. central banker said on Wednesda…
U.S. service sector growth, hiring improves in January
(Reuters) – Growth picked up in the U.S. service sector in January, with steady strength in private-sector hiring, suggesting the winter weather that socked the country over the last several weeks had a limited effect on the economy.
CVS becomes first big U.S. drugstore chain to drop tobacco
(Reuters) – CVS Caremark Corp said on Wednesday that it would stop selling tobacco products at its 7,600 stores by October, becoming the first national drugstore chain in the United States to take cigarettes off the shelves.
Aston Martin recalls 17,590 cars due to counterfeit material
DETROIT (Reuters) – Aston Martin expanded a recall on Wednesday to cover most of its sports cars built since late 2007 after discovering a Chinese sub-supplier was using counterfeit plastic material in a part supplied to the British luxury sports carma…
Bankers take fight over U.S. anti-tax dodge rules to appeals court
NEW YORK (Reuters) – Texas and Florida bankers’ groups are appealing the dismissal of a lawsuit they brought last year challenging rules meant to help the government implement the Foreign Account Tax Compliance Act (FATCA), a law aimed at combating off…
Exclusive: JPMorgan in talks with Mercuria on commodities unit sale
LONDON (Reuters) – Fast-growing trading house Mercuria, led by two former Goldman Sachs executives, has become the front-runner to buy the physical commodities unit of JPMorgan , one of the most powerful oil and metals desks on Wall Street, two sources…
Pressing hawkish case, Fed’s Plosser wants sharper QE cuts
(Reuters) – The U.S. Federal Reserve should wind down its bond purchases faster than planned and end it before mid-year, a hawkish Fed policymaker said on Wednesday, going a step further in his criticism of the stimulus.
Pimco’s Gross tells clients ‘we are a better team at this moment’
NEW YORK (Reuters) – Pimco’s Bill Gross, manager of the world’s largest bond fund, reassured investors and clients on Wednesday that the departure of his heir apparent, Mohamed El-Erian, will not affect the performance of the firm.
New York bank regulator Lawsky opens currency trading probe: source
NEW YORK (Reuters) – Benjamin Lawsky, New York’s financial services superintendent, has opened an investigation into manipulation of the currency markets by large banks and is requesting documents from more than a dozen institutions, according to a sou…
