Flush with orders, aerospace industry retools
PARIS (Reuters) – As airplane makers gathered outside Paris to show off their newest high-tech jetliners on Monday, a less-heralded technology story was unfolding back home on the factory floors of the world’s leading aerospace companies.
Sky’s the limit for civil drones
PARIS (Reuters) – From their roots in spying and stealth military attacks, unmanned planes are spreading into the civilian sphere and could soon be put to work in tasks as diverse as inspecting oil pipelines, catching rhino poachers and even flying tra…
Switzerland buries U.S. tax law, banks seen at risk
BERNE (Reuters) – Swiss lawmakers dealt a death blow on Wednesday to a draft law which aimed to protect the country’s banks from criminal charges in the United States for helping wealthy Americans evade tax.
Porsche plaintiffs bolstered by court ruling: lawyer
BERLIN (Reuters) – Investors suing Porsche SE for more than 4 billion euros ($5.4 billion) over its failed attempt to take over Volkswagen in 2008 may take encouragement from a German court ruling on Wednesday, a lawyer said.
BlackBerry shares fall as analyst downgrades stock ahead of earnings
TORONTO (Reuters) – BlackBerry shares fell nearly 4 percent on Tuesday after a Bernstein Research analyst cut his rating on the stock to “underperform” ahead of the company’s quarterly earnings release next week.
Men’s Wearhouse ousts founder Zimmer
(Reuters) – Apparel retailer Men’s Wearhouse ousted Executive Chairman George Zimmer, the face of the company founded 40 years ago, sending its shares down as much as 6 percent.
Commerzbank to cut around 5,200 jobs
FRANKFURT (Reuters) – Germany’s second-largest lender Commerzbank said on Wednesday it will cut 5,200 jobs, about 12 percent of its 45,000 full-time staff, adding to job-shedding by banks across Europe.
Tesla recalls some Model S cars due to seat-mount defect
(Reuters) – Electric car maker Tesla Motors Inc will recall 1,228 of its 2013 Model S cars manufactured between May 10 and June 8 due to a defect in the mounting bracket of the rear seat.
Dolce and Gabbana sentenced to jail for tax evasion
MILAN (Reuters) – Fashion design duo Domenico Dolce and Stefano Gabbana were on Wednesday handed a suspended prison sentence of one year and eight months for hiding hundreds of millions of euros from the tax authorities.
Local, global trends boost Gulf banks as foreign rivals retrench
ABU DHABI/DUBAI (Reuters) – When British banker Michael Tomalin took the top job at National Bank of Abu Dhabi in 1999, the lender had about $9 billion in assets – tiny by global standards – and its operations were largely confined to the oil-rich emir…
