U.S. aircraft moved from Dubai Airshow ahead of storm
DUBAI (Reuters) – The U.S. military on Wednesday began moving 12 U.S. aircraft on display at the Dubai Airshow to a nearby maintenance facility ahead of a major sandstorm and thunderstorm expected to hit the region, a spokesman for U.S. Air Force Centr…
Wall Street banks must abandon ‘cottage industry’ model: McKinsey
NEW YORK (Reuters) – The biggest Wall Street banks have not done nearly enough to boost shareholder returns, despite years of cost-cutting and tailoring balance sheets to a more profitable mix, consulting firm McKinsey & Co said in a report released on Wednesday.
Deloitte granted leave to appeal record MG Rover fine
LONDON (Reuters) – Accountancy firm Deloitte can appeal part of a record 14 million pound ($22.5 million) fine for failing to manage conflicts of interest in its advice to carmaker MG Rover Group, whose collapse cost British taxpayers 270 million pound…
Lowe’s raised forecast falls short of analysts’ estimates
(Reuters) – Lowe’s Cos Inc’s quarterly profit slightly missed Wall Street estimates, and the No. 2 home improvement chain did not raise its fiscal-year outlook as much as analysts had hoped, sending its shares lower.
Britain’s Cameron: Alarm bells should have rung over Co-op’s Flowers
LONDON (Reuters) – British Prime Minister David Cameron said on Wednesday that investigators must find out how disgraced former banker Paul Flowers was allowed to hold his position as chairman of Britain’s Co-operative Bank.
Staples sticks to forecast after sales miss estimates
(Reuters) – Staples Inc , the largest U.S. office supply retailer, reported lower-than-expected third-quarter sales, citing weak demand and a stronger dollar.
Shares, dollar sag ahead of Fed minutes
LONDON (Reuters) – Investors locked in some of the gains that have taken world stock markets to six-year highs on Wednesday as they waited to see what the mood was like at the U.S. Federal Reserve’s most recent meeting.
Deutsche Bank appeals against Libor unfair dismissal case
FRANKFURT (Reuters) – Deutsche Bank launched a legal appeal against a German labor court ruling that forced it to reinstate four fired traders, potentially exposing the lender to new embarrassing testimony.
Nissan unfazed by EV delays, dismisses rivals’ fuel cell targets
TOKYO (Reuters) – Carlos Ghosn, the CEO of Renault SA and Nissan Motor Co , said he was unfazed by delays in his electric vehicle sales targets, predicting rivals would face even greater obstacles in their plans to launch fuel cell car sales over the n…
China central bank suggests faster tempo for freeing yuan
BEIJING (Reuters) – With a shift in tone and language, China’s central bank governor has dangled the prospect of speeding up currency reform and giving markets more room to set the yuan’s exchange rate as he underlines broader plans for sweeping econom…
