Japan to let carriers remove 787 emergency beacons
TOKYO (Reuters) – Aviation regulators will allow Boeing 787 Dreamliners to operate in Japan without locator beacons which have been identified by British investigators as a likely source of a fire on board one of the aircraft in London last week, two a…
China frees up lending rates in major reform
BEIJING (Reuters) – China’s central bank removed controls on bank lending rates, effective Saturday, in a long-awaited move that signals the new leadership’s determination to carry out market-oriented reforms.
Stora Enso delays China investment to protect cash
HELSINKI (Reuters) – Finnish paper and packaging group Stora Enso deferred a 1.6 billion euro ($2.1 billion) project in China in a move to safeguard cash flow that analysts said pointed to a slowing down in vital transformation plans.
Whirlpool profit surges as sales rebound, shares jump
CHICAGO (Reuters) – Whirlpool Corp posted a stronger-than-expected jump in quarterly profit and raised its full-year outlook on Friday, citing sales gains in all of its markets, including Europe and North America.
Schlumberger soars on global drilling boom, Baker hit at home
(Reuters) – A three-decade high for drilling activity outside North America lifted Schlumberger Ltd to a seventh straight estimate-topping quarterly profit, while U.S.-focused Baker Hughes Inc came up short in a tough quarter closer to home.
Former brokers in UK court on Libor fraud charges
LONDON (Reuters) – Two former brokers, who appeared in court on Friday on fraud charges, conspired with employees at UBS, HSBC , Rabobank, Citi and Tullett Prebon to manipulate Libor rates, UK prosecutors alleged in court documents.
India police agency says Wal-Mart violated investment rules
MUMBAI (Reuters) – Wal-Mart Stores Inc violated Indian rules governing foreign investment, the country’s top police agency said in a letter to a member of parliament seen by Reuters.
GSK sends three executives to China to handle crisis
LONDON (Reuters) – GlaxoSmithKline has sent its head of emerging markets and two other top executives to China to lead the drugmaker’s response to an unfolding crisis over alleged bribery and corruption.
Manpower expects cost cuts to help second-quarter profit
(Reuters) – ManpowerGroup Inc , the world’s No.3 staffing company, reported a strong adjusted quarterly profit as cost cuts propped up margins even though European sales declined sharply, and said margins could slightly expand in the second quarter.
Morgan Stanley stock traders rebuild burned bridges
NEW YORK (Reuters) – As Morgan Stanley’s share price went on a headlong descent during the financial crisis in 2008, then-Chief Executive John Mack personally lobbied regulators to stop short-selling temporarily.
