Pentagon sees progress on cost of F-35, long way to go
WASHINGTON (Reuters) – The Pentagon’s recent focus on pricing has led to “remarkable progress” in cutting the cost of the Lockheed Martin Corp F-35 fighter program, but the plane still costs more than it should to build and operate, Director of Defense…
Hyundai, Kia propose settlement of U.S. fuel economy lawsuits
DETROIT (Reuters) – U.S. units of South Korean sister companies Hyundai Motor Co and Kia Motors Corp on Monday said they reached an agreement to pay a total of $395 million to settle lawsuits filed by owners of cars affected by the companies’ overstate…
U.S. bank group launches Volcker rule legal challenge
WASHINGTON (Reuters) – The American Bankers Association on Monday initiated a legal challenge to a provision of the “Volcker rule” that restricts bank ownership of certain investments.
Target meets with state attorneys as lawsuits pile up
BOSTON/NEW YORK (Reuters) – Target Corp’s general counsel, Timothy Baer, spoke with top state prosecutors on Monday to address their concerns about a massive data breach, as consumer lawsuits piled up against the retailer and two U.S. senators called f…
Dow, S&P hit record highs; Apple’s China deal lifts techs
NEW YORK (Reuters) – U.S. stocks climbed on Monday, with the Dow and S&P 500 advancing to all-time highs as a distribution deal by Apple Inc with China Mobile boosted the technology sector.
Fed hawks back taper decision, one urges bolder action
(Reuters) – Two of the Federal Reserve’s most outspoken policy hawks voiced support on Monday for the U.S. central bank’s decision to start scaling back its bond-buying program, though one argued for bolder action.
Exclusive: Carlyle near deal to buy J&J diagnostics unit – sources
NEW YORK (Reuters) – Private equity firm Carlyle Group LP is nearing an agreement to acquire Johnson & Johnson’s ortho clinical diagnostics unit, four people familiar with the matter said on Monday, in a deal expected to be worth around $4 billion.
Fed’s Fisher says favored $20 billin taper: Fox Business
WASHINGTON (Reuters) – Dallas Federal Reserve President Richard Fisher said on Monday that the U.S. central bank had taken an important psychological step when it announced a reduction in bond buying at its policy meeting last week, but he favored even…
Freeport in ‘at-will’ pay deal with CEO, grants $36 million in stock
(Reuters) – Freeport-McMoRan Copper & Gold Inc said on Monday it reached an agreement with Chief Executive Richard Adkerson to cancel his employment agreement, giving up his guaranteed salary, benefits and rights to substantial severance in exchange for restricted stock worth about $36 million.
Ackman sticks with Herbalife short sale, promises new information in 2014
BOSTON (Reuters) – Herbalife is still engaged in improper recruiting tactics and is likely violating multi-level market restrictions in China, activist hedge fund manager William Ackman wrote to his investors on Monday.
