Lufthansa backs major Airbus, Boeing jet order
FRANKFURT (Reuters) – Deutsche Lufthansa signaled a major aircraft order to drive down fuel costs on long routes, saying its board had backed modernization plans that industry watchers expect to benefit both Airbus and Boeing Co .
China property developers pull down shutters, hoard cash
HONG KONG (Reuters) – China’s biggest property developers are sitting on $25 billion in cash as they prepare for a possible credit crunch and another round of crackdowns on real estate speculation.
Analysis: GE shuffle signals growing importance of oil & gas unit
(Reuters) – General Electric Co’s decision to name rising star Lorenzo Simonelli to head its oil and gas equipment business signals just how important energy has become to the conglomerate as it retreats from finance and returns to its industrial roots…
U.S. names alleged co-conspirators in insider case of SAC’s Steinberg
(Reuters) – Two months ahead a scheduled criminal trial against Michael Steinberg, a trader at Steven A. Cohen’s hedge fund firm SAC Capital Advisors LP, federal prosecutors have named 15 other alleged co-conspirators related to his insider trading cas…
Wall Street veteran leads UAW trust in fight with Fiat over Chrysler
DETROIT (Reuters) – Sergio Marchionne, the chief executive of automakers Fiat and Chrysler, is well-known as a tough and shrewd negotiator. But he may have met his match in Alain Lebec.
U.S. names alleged co-conspirators in insider case of SAC’s Steinberg
(Reuters) – Two months ahead a scheduled criminal trial against Michael Steinberg, a trader at Steven A. Cohen’s hedge fund firm SAC Capital Advisors LP, federal prosecutors have named 15 other alleged co-conspirators related to his insider trading cas…
Analysis: Fed delay both delights, confounds investors
NEW YORK (Reuters) – Wall Street’s knee-jerk reaction to the Federal Reserve choosing to keep the pedal to the monetary policy metal was loud and clear on Wednesday: Buy Buy Buy!
Wall St veteran leads UAW trust in fight with Fiat over Chrysler
DETROIT (Reuters) – Sergio Marchionne, the chief executive of automakers Fiat and Chrysler, is well-known as a tough and shrewd negotiator. But he may have met his match in Alain Lebec.
General Dynamics changes leadership at shipyards
WASHINGTON (Reuters) – General Dynamics Corp on Wednesday announced leadership changes at its shipyards that it said would help the company reduce costs and better serve its main customer, the U.S. Navy.
Wells Fargo cutting 1,800 jobs in mortgage business: report
NEW YORK (Reuters) – Wells Fargo & Co. , the biggest U.S. mortgage lender, is cutting 1,800 jobs in its home-loan production business, Bloomberg reported on Wednesday.
