Office Depot picks turnaround expert Roland Smith as CEO
NEW YORK (Reuters) – No. 2 U.S. office supply retailer Office Depot Inc named Roland Smith, the former head of the U.S. unit of supermarkets operator Delhaize Group, as its new chief executive on Tuesday, hoping to tap his expertise in integrating and …
Starbucks to pay $2.76 billion in Kraft grocery rift
(Reuters) – Starbucks Corp must pay Kraft Foods $2.76 billion after it ended the companies’ grocery deal at least three years early, the coffee chain said on Tuesday.
J&J reaches $4 billion deal on hip implant lawsuits: report
(Reuters) – Johnson & Johnson will pay more than $4 billion to settle thousands of lawsuits over its recalled defective hip implants, Bloomberg reported late on Tuesday, citing three people familiar with the deal.
Tesla car fires ‘definitely’ will not lead to recall: CEO
DETROIT (Reuters) – Tesla Motors Inc will not recall its Model S electric car despite three vehicle fires that raised safety questions and hurt the automaker’s stock price, CEO Elon Musk said on Tuesday.
Chevron makes its case in trial over $19 billion Ecuadorean judgment
NEW YORK (Reuters) – Chevron Corp is bringing its enormous resources to bear in a court case in New York in which it has accused a U.S. lawyer of using fraud to win a $19 billion environmental judgment against it.
Two Fed officials say aggressive policy action still needed
MONTGOMERY, Ala./ST. PAUL, Minnesota (Reuters) – The Federal Reserve should keep monetary policy ultra-easy given the economy’s tepid growth and an uncertain outlook for jobs growth, two senior officials said on Tuesday, reinforcing views that the U.S….
ICE completes takeover of NYSE
NEW YORK (Reuters) – IntercontinentalExchange Inc’s takeover of NYSE Euronext is complete and stock of the combined company will begin trading under the symbol ICE on Wednesday, said the head of ICE, an exchange and clearing house operator.
Corzine, banks fail to win dismissal of MF Global lawsuit
NEW YORK (Reuters) – A federal judge on Tuesday rejected a bid by former MF Global Holdings Ltd chief executive Jon Corzine to dismiss investor litigation seeking to hold him, other executives and many banks responsible for the futures brokerage’s rapi…
Ex-hedge fund exec wins SEC leniency for helping thwart fraud
(Reuters) – A former hedge fund administrator has reached an agreement with the Securities and Exchange Commission that marks the first time the regulator agreed not to begin an enforcement action against an individual as a reward for cooperating in a …
Alitalia job cuts plan unlikely to win Air France rescue
MILAN/PARIS (Reuters) – Cash-strapped Italian airline Alitalia is planning the first mass firing since its it was privatized in 2008 to cut costs, but a source said it was unlikely to go far enough to persuade top shareholder Air France-KLM to rescue i…
