Undeterred by recall, Fonterra seen pushing on with own-brand China plan
WELLINGTON (Reuters) – Fonterra , the world’s largest dairy processor, is moving ahead with plans to launch its own branded milk formula in China, undeterred by a recent botulism scare and Beijing’s crackdown on foreign firms over alleged corrupt sales…
Next bank stress test cycle to include Basel III: U.S. Fed
WASHINGTON (Reuters) – U.S. banks must incorporate the strict new Basel III capital rules in the next set of the surveys of their financial health known as stress tests, the Federal Reserve said on Tuesday.
Fiat delays Alfa Romeo’s U.S. relaunch again, to spring 2014
DETROIT/MILAN (Reuters) – Italian automaker Fiat SpA has delayed again the U.S. relaunch of its sporting Alfa Romeo brand until spring 2014, a Fiat spokesman said Tuesday.
Judge rejects proposed member of LightSquared auction committee
NEW YORK (Reuters) – A U.S. judge on Tuesday blocked a proposed appointee to a committee to oversee the bankruptcy auction of broadband company LightSquared LP, citing a conflict of interests, and admonished the company for making the nomination.
Airbus to launch short-range version of A330: industry sources
PARIS (Reuters) – Airbus will launch a short-range “Regional” version of its best-selling A330 wide-bodied jet at an airshow in China on Wednesday, industry sources said.
U.S. home prices up, but slip in confidence could be a concern
NEW YORK (Reuters) – U.S. home prices slowed their rate of gains in July and a dip in consumer confidence this month underscored the potential for higher borrowing costs and a sluggish economy to dent a housing market recovery.
China gets stake in Russian potash giant to secure supply
MOSCOW/LONDON (Reuters) – China acquired a 12.5 percent stake in Russian potash producer Uralkali in a deal that could help Beijing secure stable supplies of the soil nutrient, put new pressure on prices and reduce the chances of a Russia-Belarus carte…
South Korea dumps Boeing fighter jet tender, Lockheed soars back
SEOUL (Reuters) – South Korea’s government bowed to public pressure on Tuesday and voted down a bid by Boeing to supply 60 warplanes, saying it would restart the multi-billion tender process to get a more advanced, radar-evading fighter.
Volkswagen urges German staff to tighten belts as markets slump
BERLIN (Reuters) – Europe’s largest carmaker Volkswagen on Tuesday warned workers at its biggest factory it might introduce cost-cutting measures in the months ahead to counter the impact of stalling sales.
Smithfield shareholders approve sale to China’s Shuanghui
(Reuters) – Smithfield Foods Inc shareholders on Tuesday approved the pork giant’s $4.7 billion sale to Shuanghui International Holdings Ltd in what is shaping up as the biggest acquisition of a U.S. company by a Chinese firm.
