GSK replaces China chief amid corruption scandal
LONDON (Reuters) – GlaxoSmithKline has appointed one of its top European executives as the new head of operations in China, amid a corruption scandal there that has rocked Britain’s biggest drug maker.
D.R. Horton profit beats estimates on higher home prices
(Reuters) – Homebuilder D.R. Horton Inc reported a better-than-expected profit as it sold more homes at higher prices in quarter ended June.
GM profit beats Street on aggressive cost-cutting in Europe
DETROIT (Reuters) – General Motors Co posted a higher-than-expected second-quarter profit on Thursday as aggressive cost-cutting helped the U.S. automaker narrow its losses in Europe.
Dow Chemical may sell businesses exposed to commodity swings
(Reuters) – Dow Chemical Co will consider selling its paint, construction and chlorine businesses as it joins industry rivals in shedding units vulnerable to commodity price swings, its chief executive said.
SAC indictment describes ‘insider trading group’ at Citadel: sources
NEW YORK (Reuters) – A former employee of SAC Capital Advisors’ Chicago office was once part of an “insider trading group” at a rival hedge fund, according to an indictment filed on Thursday against SAC.
Businesses set to step up capital goods spending
WASHINGTON (Reuters) – A gauge of planned business spending on capital goods rose in June, buoying hopes of an acceleration in economic growth in the second half of 2013.
Investment bank outlook weighs on Credit Suisse
ZURICH (Reuters) – Credit Suisse’s investment bank drove a one-third jump in quarterly group profit, prompting investors to worry that a heavy reliance on fixed-income trading could hurt the lender if interest rates rise.
FAA to airlines: remove or inspect Boeing 787 beacons
(Reuters) – The U.S. Federal Aviation Administration on Thursday instructed airlines to remove or inspect emergency beacons in Boeing Co’s 787 Dreamliners, following a fire earlier this month that was traced to one of the units, made by Honeywell Inter…
Daimler to take stake in Aston Martin in new engine deal
LONDON (Reuters) – Luxury sports car maker Aston Martin is to team up with Daimler’s high-performance Mercedes-AMG GmbH division to develop a new generation of bespoke V8 engines for the British firm, it said on Thursday.
UK prosecutor sees more Libor charges within months
LONDON (Reuters) – Britain’s leading fraud prosecutor hopes within months to charge more individuals over the Libor rate rigging scandal as it tries to reassure critics it won’t hesitate to pursue senior industry figures or even institutions.
