Drop in jobless rate puts Fed closer to end of QE3: Fed’s Fisher
PORTLAND, Oregon (Reuters) – The Federal Reserve is nearer to dialing back its massive bond-buying program after the unemployment rate dropped last month, a top Fed official said on Monday, the second to make that point in as many trading days.
No hint of credit tightening in Fed survey of bankers
WASHINGTON (Reuters) – U.S. financial conditions remained favorable during the second quarter despite the spike in market interest rates, according to the latest Federal Reserve survey of bank senior loan officers.
Cadillac strategy chief suddenly steps down, GM says
DETROIT (Reuters) – Don Butler, the head of global strategy for General Motors Co’s luxury Cadillac brand, resigned on Monday about four months after he was assigned to boost the nameplate’s international sales.
HSBC revenues sag, says may face $1.6 billion U.S. lawsuit hit
LONDON (Reuters) – HSBC posted lower than expected earnings on Monday and said it might have to pay $1.6 billion in damages over a U.S. lawsuit, reviving concerns over legacy issues and growth prospects at Europe’s biggest bank.
HSBC says could take $1.6 billion hit on U.S. lawsuit
LONDON (Reuters) – HSBC Holdings Plc, Europe’s biggest bank, said it could take a hit of up to $1.6 billion in a settlement with a U.S. regulator over allegations it mis-sold mortgage-backed bonds during the housing bubble.
J.C. Penney names Kraft executive as head of marketing
(Reuters) – J.C. Penney Co Inc on Monday named a Kraft Foods Group Inc executive to head its marketing efforts, filling a job that had been vacant for 14 months while the company tries to win shoppers back to its promotions-heavy strategy.
U.S. service sector growth jumps in July as new orders surge: ISM
NEW YORK (Reuters) – The pace of growth in the U.S. services sector accelerated in July, picking up from a three-year low as new orders surged to their highest level in five months, an industry report showed on Monday.
Raytheon sees ‘never-ending opportunity’ in Patriot missile system
WASHINGTON (Reuters) – Raytheon Co is poised to book billions of dollars’ worth of orders for its Patriot air and missile defense system in the coming months, underscoring the resurgence of a weapon first developed to defend Europe against a possible S…
US Airways, American Airlines gain EU approval for $11 billion merger
BRUSSELS (Reuters) – US Airways and AMR Corp’s American Airlines secured EU regulatory approval on Monday for their $11 billion merger after promising to surrender slots at Heathrow and Philadelphia airports.
BP says will ‘vigorously defend’ itself in gas manipulation case
(Reuters) – BP Plc said on Monday it would “vigorously defend” itself against allegations from U.S. regulators that its traders manipulated natural gas markets in late 2008.
