In sign of downturn, Indian retail landlords finally capitulate on price
MUMBAI (Reuters) – In a capitulation that speaks to the depth of the slump in India’s economy, usually tight-fisted retail landlords have become uncharacteristically flexible on rents, as Lacoste India CEO Rajesh Jain knows well.
Boeing to close assembly line for C-17 transport jet
SEATTLE (Reuters) – Boeing Co said on Wednesday that it would stop making its distinctive-looking C-17 military transport plane in 2015 due to faltering sales, and would lay off 3,000 employees involved in the 30-year-old program.
U.S. judge orders UBS unit in Japan to pay $100 million over Libor
(Reuters) – A Japanese investment banking unit of UBS AG was ordered on Wednesday to pay a $100 million criminal fine after pleading guilty to wire fraud in connection with its role in the manipulation of the benchmark interest rate Libor.
U.S. prosecutor cautions against white-collar sentencing revamp
NEW YORK (Reuters) – The U.S. Justice Department opposes a wholesale revamping of white-collar criminal sentences that defense lawyers and some judges have urged, a top federal prosecutor said on Wednesday.
BlackBerry plans deep job cuts as new phone launches: report
TORONTO (Reuters) – BlackBerry Ltd plans to slash thousands of jobs by the end of the year, the Wall Street Journal reported on Wednesday, just as the company launches a flagship smartphone intended to revive its fortunes.
Analysis: Time to taper? Not if you look at bank loans
(Reuters) – The U.S. Federal Reserve decided to hold off on scaling back its bond-buying program on Wednesday, and at least one reason for its choice may have been a stubbornly weak economic indicator: bank lending.
Unionized American Airlines, US Airways workers rally for merger
WASHINGTON (Reuters) – Union members who work for American Airlines and US Airways Group rallied on Capitol Hill on Wednesday, urging the U.S. Justice Department to drop its opposition to a planned merger between the two airlines.
Commodities fund Arbalet to close soon as investors flee: sources
NEW YORK (Reuters) – Commodities hedge fund Arbalet Capital is set to close over the next month or two, just a year and a half since its launch, after sluggish returns sparked an investor exodus at the firm, people familiar with the matter said.
Lufthansa signals major wide-body jet order
FRANKFURT (Reuters) – Deutsche Lufthansa signaled its second major aircraft order in six months on Wednesday, saying its supervisory board had backed a long-haul fleet plan that industry watchers expect to benefit Airbus and Boeing .
Ex-banker pleads guilty in Olympus accounting fraud
NEW YORK (Reuters) – A former Singapore banker pleaded guilty in federal court in New York on Wednesday to helping Japan’s Olympus Corp orchestrate a $1.7 billion accounting fraud.
