EU charges banks with blocking exchanges from derivatives market
BRUSSELS (Reuters) – EU watchdogs have charged 13 top investment banks with blocking exchanges’ access to the lucrative credit derivatives market, hitting the sector with the latest in a growing list of regulatory headaches.
Lockheed Martin creates international arm in sales push
LONDON (Reuters) – Lockheed Martin , the Pentagon’s biggest supplier by revenue, is drawing together its overseas sales efforts in a new international arm as it tries to win more contracts outside the United States.
Exclusive: U.S. drug firms vie to take stake in Celesio – sources
FRANKFURT (Reuters) – Two U.S. drugs distribution groups McKesson Corp and Cardinal Health Inc are both in talks to possibly take a stake in German drugs company Celesio , two industry sources familiar with the situation said.
Fiat says has had no alliance talks with Peugeot
MILAN (Reuters) – Fiat was not among potential investors sounded out by PSA Peugeot Citroen’s founding family, the Italian carmaker’s chairman and controlling shareholder John Elkann said on Monday.
Chinese police investigating local GlaxoSmithKline staff: report
SHANGHAI (Reuters) – High-level Chinese staff at British drugmaker GlaxoSmithKline Plc are being investigated by police in the south-central Chinese city of Changsha on suspicion of unspecified economic crimes, the official Xinhua News Agency reported….
Lufthansa revamps budget airline Germanwings to take on rivals
FRANKFURT (Reuters) – Lufthansa , Europe’s biggest airline, launched its re-branded budget carrier Germanwings on Monday in an attempt to cut costs and win back passengers from no-frills rivals.
Safety regulators close Ford, Hyundai auto defect probes
DETROIT (Reuters) – Safety regulators closed an investigation into defective engine cables in more than 467,000 Ford Taurus and Mercury Sable cars after Ford Motor Co said it would fix the problem without issuing a recall.
Manufacturing grows in June, but hiring down: ISM
NEW YORK (Reuters) – Manufacturing activity grew in June, rebounding from an unexpected contraction the prior month, but hiring in the sector was the weakest in nearly four years, an industry report showed on Monday.
May construction spending approaches four-year high
WASHINGTON (Reuters) – Construction spending rose to its highest level in nearly four years in May as a sharp rebound in public outlays offset a decline in investment in private nonresidential projects, pointing to moderate economic growth.
Intuit to sell financial services unit for $1 billion
(Reuters) – Intuit Inc said it would sell its financial services unit to private equity firm Thoma Bravo for $1.03 billion as it focuses on its core tax-preparation software business.
