Insurers Allianz and QBE most exposed to Spain train crash
MADRID/LONDON (Reuters) – Germany’s Allianz and Australian group QBE bear the bulk of the insurance liability from this week’s fatal train crash in northwest Spain, according to sources at the companies.
Consumer sentiment rises to highest level in six years in July
NEW YORK (Reuters) – U.S. consumer sentiment rose in July to the highest level in six years as Americans felt better about the current economic climate, though they expected to see a slower rate of growth in the year ahead, a survey released on Friday …
General Electric to cut 600 jobs in France: union
PARIS (Reuters) – General Electric is to cut 600 jobs in France, mostly at its finance arm, a union official said on Friday, as it seeks to cut back on the division’s activities in the wake of the banking crisis.
Polish LOT still seeking damages from Boeing over Dreamliner
WARSAW (Reuters) – Poland’s flag carrier LOT said on Friday it would continue to pursue hefty damages from Boeing over the grounding of the Dreamliners, which the airline said hurt its efforts to restructure its ailing business.
Qatar Airways grounds one 787, cites ‘minor’ issue
DUBAI (Reuters) – Qatar Airways said on Friday it had taken one of its 787 Dreamliners out of service following what it described as a “minor” technical issue, as pressure mounted on Boeing over possible new electrical problems with the advanced jet.
Banks shiver as UBS swallows $885 million U.S. fine
WASHINGTON/LONDON (Reuters) – UBS will pay $885 million in a settlement with a U.S. regulator over allegations the Swiss bank misrepresented mortgage-backed bonds during the housing bubble, paving the way for billions more to be paid by other banks.
Fed stimulus debate leaves dollar at five-week low
LONDON (Reuters) – The dollar held at a five-week low and gold headed for its best month in over 1-1/2 years on Friday, after a report that the U.S. Federal Reserve will next week underline its intention to keep interest rates low for a long time.
Siemens’ board to meet at weekend to discuss management: sources
MUNICH (Reuters) – Members of Siemens’ supervisory board will meet at the weekend to discuss the German engineering group’s management, two people familiar with the matter said on Friday, days after Siemens abandoned its 2014 profit margin target.
KKR’s second-quarter earnings plunge on fund values
NEW YORK (Reuters) – KKR & Co LP said on Friday that its second-quarter earnings declined by 74 percent as a lower appreciation in its private equity funds overshadowed a quadrupling in the cash it received from the profits its funds generated.
Lear second-quarter profit beats expectations, raises full-year outlook
(Reuters) – Automotive seat maker Lear Corp on Friday reported second-quarter earnings that handily beat Wall Street projections and increased its full-year outlook for sales and operating earnings.
