New blow to Peugeot as GM alliance scaled back
PARIS (Reuters) – PSA Peugeot Citroen and General Motors are scaling back their alliance, undermining a central pillar of the French carmaker’s recovery plan as the U.S. group exhibits growing confidence about its own European business.
Veteran of global affairs to retire in 2014 from New York Fed
NEW YORK (Reuters) – Terrence Checki, a top U.S. central bank official with some 46 years of experience at the Federal Reserve Bank of New York, is set to retire early next year as head of a group that promoted global financial stability and coordinati…
U.S. SEC releases long-awaited ‘crowdfunding’ rule
WASHINGTON (Reuters) – Entrepreneurs and start-up companies looking for backing will be able to solicit small investments over the Internet from the general public under a new proposal unveiled by U.S. regulators on Wednesday.
Nissan recalls more than 188,000 SUVs globally for brake issue
DETROIT (Reuters) – Nissan Motor Co Ltd said on Wednesday it is recalling 188,302 sport utility vehicles globally, mostly in the United States, to fix faulty brake control software that may increase the risk of a crash.
ECB sets out tougher bank health tests, shares drop
FRANKFURT (Reuters) – The European Central Bank promised on Wednesday to put top euro zone banks through rigorous tests next year, staking its credibility on a review that aims to build confidence in the sector.
Lilly profit beats Wall Street estimates, helped by cost cuts
(Reuters) – Eli Lilly and Co on Wednesday reported higher-than-expected quarterly earnings, helped by cost cuts and a big price increase for top-selling antidepressant Cymbalta, which begins facing generic competition in December.
EU likely to open probe into Hutchison, Telefonica deal: sources
BRUSSELS (Reuters) – EU antitrust regulators are set to open a lengthy investigation into Hutchison Whampoa’s bid for Telefonica’s Irish unit unless Hutchison offers concessions to sooth competition concerns, two people familiar with the matter said on…
Draghi wants European banks backstop in place by 2015
FRANKFURT (Reuters) – A common resolution mechanism for dealing with troubled banks is a crucial part of the euro zone’s banking union and the European Central Bank wants it in place by 2015, ECB President Mario Draghi told Reuters on Wednesday.
Special Report: Economy-class activist investor crashes the corporate party
LOS ANGELES (Reuters) – Shareholder activists come in different flavors. One is the deep-pocketed investor, such as Carl Icahn or Dan Loeb, who takes big stakes in companies and forces management to change strategy. Another type is the persistent provo…
Boeing to increase 787 production to 12 per month in 2016
NEW YORK (Reuters) – Boeing Co said on Wednesday that it plans to increase production of the 787 Dreamliner to 12 aircraft per month in 2016, up from a target of 10 per month by the end of 2013.
