Insight: Myanmar’s aviation industry booms despite grim safety record
KONEMOE, Myanmar (Reuters) – Htay Aung was riding pillion on a motorbike last Christmas morning, wending through the cool hills of eastern Myanmar, when Air Bagan Flight 11 came down on top of him.
Exclusive: Tri Pointe in advanced talks to buy Weyerhaeuser home unit – sources
NEW YORK (Reuters) – Tri Pointe Homes Inc , a homebuilder backed by Barry Sternlicht’s Starwood Capital Group LLC, is in advanced talks to buy Weyerhaeuser Co’s homebuilding division for about $2.7 billion, according to people familiar with the matter….
With Psy and currency swaps, South Korea grabs global influence
SEOUL (Reuters) – From rapper Psy to overseas financial aid, an economically and culturally confident South Korea appears to be taking on bigger neighbours Japan and China for the hearts and minds of the rest of Asia and beyond.
Discover Financial profit misses as provisions rise
(Reuters) – Discover Financial Services reported a 7 percent fall in quarterly profit that narrowly missed Wall Street estimates as the credit card company put aside more money to cover defaults.
Penney shares plunge after analyst sets $1 price target
(Reuters) – J.C. Penney Co Inc shares sank to a more than 30-year low on Monday after an analyst slashed her price target on its shares to $1 from $5, citing increasing concerns that the retailer “may engage in a financial restructuring in 2014.”
Penney no longer on Martha Stewart board in revised deal
(Reuters) – Martha Stewart Living Omnimedia Inc and J.C. Penney Co Inc said on Monday that Penney will no longer be represented on Martha Stewart’s board under a revised commercial agreement covering their licensing and design partnership.
Goldman Vice Chairman Evans to retire at year-end
NEW YORK (Reuters) – Goldman Sachs Group Inc Vice Chairman J. Michael Evans will retire from his position at year-end, the bank said on Monday, eliminating a top rival of Chief Operating Officer Gary Cohn in the race to become the next head of Wall Str…
Italian unions to strike over government budget
ROME (Reuters) – Italy’s three main trade union confederations will hold rolling strikes and protests against the government’s 2014 budget plan, they said on Monday, piling more pressure on Enrico Letta’s fragile coalition.
Harvard taps investment arm veteran to oversee private equity
BOSTON (Reuters) – Harvard Management Company, which manages the Ivy League school’s $32.7 billion endowment, said on Monday it promoted Lane MacDonald to oversee its private equity investments.
Madoff employees lived high on corporate money, prosecutors say
NEW YORK (Reuters) – Members of Bernard Madoff’s inner circle indulged in expensive wine, cruises and jaunts to Las Vegas, all paid for by his investment firm, prosecutors said on Monday in a trial of five former long-time Madoff associates.
