Today's Reuters Business News Headlines - Yahoo! News:
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Bombardier says wins $507 million plane order
Sat,30 Jun 2012 05:16 PM PDT
Reuters - TORONTO (Reuters) - Bombardier Inc said on Saturday its aerospace arm had received firm orders worth about $507 million for eight global business aircraft. The Montreal-based manufacturer said the orders from an undisclosed customer consist of three Global 6000 and five Global 8000 jets. The value of the deal is based on the 2012 list price for typically equipped aircraft, it added. ... Full Story | Top |
Wal-Mart suspends Louisiana seafood supplier
Sat,30 Jun 2012 05:15 PM PDT
Reuters - (Reuters) - Wal-Mart Stores Inc has suspended one of its seafood suppliers amid allegations that the company, CJ's Seafood of Breaux Bridge, Louisiana, violated several federal labor laws. The retailing giant launched an investigation of CJ's Seafood following a report published by labor rights group the Worker Rights Consortium that said the crawfish processor abused migrant workers, forced them to work 24 hour shifts and used threats to prevent them from complaining to authorities. ... Full Story | Top |
Airbus' Alabama plant to create 2,500 construction jobs
Sat,30 Jun 2012 09:13 AM PDT
Reuters -  WASHINGTON (Reuters) - Airbus should create about 2,500 construction jobs to build a new $600 million airliner assembly plant in Mobile, Alabama, and 400 to 500 full-time jobs once production starts in 2017, a source familiar with the plans said on Saturday. The European planemaker, owned by EADS, is poised to announce plans to build the plant for its single-aisle A320 passenger jet that will begin producing four planes a month in 2017, according to multiple people familiar with the plans. The announcement may come as early as Monday. ...
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AstraZeneca hungry to refill medicine cabinet
Sat,30 Jun 2012 08:33 AM PDT
Reuters - LONDON (Reuters) - Simon Lowth may only be the interim chief executive of AstraZeneca Plc but he is ready to sign off on bold deals. The decision to pair up with Bristol-Myers Squibb Co to buy diabetes specialist Amylin Pharmaceuticals Inc shows the Anglo-Swedish drugmaker is stepping up its deal-making, despite the management hiatus at the top of the company. AstraZeneca is chipping in $3.4 billion for a half share in Amylin's products for the fast-growing type 2 diabetes market. ... Full Story | Top |
Merkel seen as big loser in euro zone showdown
Sat,30 Jun 2012 07:50 AM PDT
Reuters -  BERLIN/PARIS (Reuters) - Angela Merkel was portrayed across Europe as the big loser of a euro zone showdown in Brussels after the German chancellor was forced to accept the crisis-fighting measures championed by countries struggling with their debts. Newspapers in Spain, Italy and France on Saturday toasted the triumph of their leaders - Mario Monti, Mariano Rajoy and Francois Hollande - in pushing Merkel into a U-turn that would long have been unthinkable. ...
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Germany denies Schaeuble talk of Greece euro exit
Sat,30 Jun 2012 07:42 AM PDT
Reuters -  KREFELD, Germany (Reuters) - A deputy German Finance Minister dismissed a magazine report saying Finance Minister Wolfgang Schaeuble had told conservative members of parliament on Friday to prepare for a looming Greek bankruptcy and euro zone exit. "This report is nonsense," Deputy Finance Minister Steffen Kampeter told Reuters on Saturday on the sidelines of a regional meeting of Christian Democrats in the western town of Krefeld. Kampeter said that Schaeuble had spoken to the conservative MPs on Friday about the need for the austerity and reform measures in Greece to be implemented. ...
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UK orders bank review, calls Diamond to panel
Sat,30 Jun 2012 07:22 AM PDT
Reuters - LONDON (Reuters) - The British government ordered an independent review into the workings of key lending rates between banks, after Barclays was found guilty of rigging them, and summoned the bank's boss to answer questions about the scandal. U.S. and British authorities fined Barclays $450 million for manipulating the London Interbank Offer Rate (Libor), the interest rate on loans that banks make to each other. Barclays was the first to settle in an investigation that is expected to name others and reaches across Europe, Japan and North America. ... Full Story | Top |
Cameroon, China Eximbank sign $467 million loan
Sat,30 Jun 2012 05:18 AM PDT
Reuters -  YAOUNDE (Reuters) - Cameroon and China's Eximbank have signed a loan agreement worth 241.4 billion CFA francsfor the construction of an expressway road linking the capital Yaounde to Cameroon's economic hub and main Douala. Economy Minister Emmanuel Nganou Djoumessi told reporters after the signing ceremony that the road will cut the distance to be travelled between the two cities from 265 km (165 miles) on the existing road to about 215 km. He also hoped the six-lane highway would benefit trade for the Central African sub-region. ...
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BMW to hire thousands of permanent staff: report
Sat,30 Jun 2012 05:12 AM PDT
Reuters -  FRANKFURT (Reuters) - BMW plans to hire thousands of permanent staff after cutting the number of its temporary workers by half, a German magazine reported on Saturday. BMW's management has struck an agreement with the company's works council that will see the number of temporary workers fall to around 6,000 from about 12,000 currently, Wirtschaftswoche magazine reported in an article released ahead of publication on Monday. ...
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France urges Peugeot to tell plant plans
Sat,30 Jun 2012 04:57 AM PDT
Reuters -  PARIS (Reuters) - French Industry Minister Arnaud Montebourg called on the management of struggling car maker PSA Peugeot Citroën to divulge its intentions for the future of several of its plants quickly, as fears mount over future job cuts. Europe's second-biggest automaker is looking for ways to make more cost savings this year and preparing to shut down one of its two Paris plants, union officials said on June 28. ...
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EU deal for Spain, Italy buoys markets but details sketchy
Sat,30 Jun 2012 04:29 AM PDT
Reuters -  BRUSSELS (Reuters) - Under pressure to prevent a catastrophic breakup of their single currency, euro zone leaders agreed on Friday to let their rescue fund inject aid directly into stricken banks from next year and intervene on bond markets to support troubled member states. They also pledged to create a single banking supervisor for euro zone banks based around the European Central Bank in a landmark first step towards a European banking union that could help shore up struggling member Spain. ...
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Wall St ends sharply higher; down for quarter
Sat,30 Jun 2012 02:08 AM PDT
Reuters -  NEW YORK (Reuters) - U.S. stocks surged on Friday to close out a sour quarter on a high note as investors cheered an agreement by European leaders to stabilize the region's banks, a pact that helped remove some of the uncertainty that has plagued markets. Based on the latest available data, the Dow Jones industrial average shot up 277.83 points, or 2.20 percent, to en unofficially at 12,880.09 for the day. The Standard & Poor's 500 Index climbed 33.12 points, or 2.49 percent, to finish unofficially at 1,362.16. The Nasdaq Composite Index jumped 85.56 points, or 3. ...
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Nigeria fx reserves fall 2 pct in June to $36.8 bln
Sat,30 Jun 2012 01:29 AM PDT
Reuters - LAGOS (Reuters) - Nigeria's foreign exchange reserves dropped 2.17 percent month-on-month to $36.82 billion by June 27, compared with $37.64 billion a month ago, after a central bank intervention to support the naira, figures from the central bank showed on Friday. The reserves were back to the level they were on May 10, at $36.85 billion, but were higher than the $32.01 billion Africa's second biggest economy had in reserve a year ago. The naira has fallen in the last three months due to an exit of offshore investors from the local debt market and strong demand for the dollar. ... Full Story | Top |
Nigeria raises 134.5 bln naira in Tbills, yields mixed
Sat,30 Jun 2012 01:28 AM PDT
Reuters - (Reuters) - Nigeria sold a total of 134.56 billion naira in treasury bills with maturities ranging from three months to one year at its bi-monthly auction, with yield performance mixed compared with the previous auction, the central bank said on Friday. The bank said it sold 21.84 billion naira worth of 91-day paper at a return of 14.09 percent, slightly higher than the 14.05 percent at the previous auction. It issued 52.73 billion naira worth in 182-day bills at 15.31 percent, the same return as at the previous auction. A total of 60 billion naira worth was issued in the 364-day bill at 15. ... Full Story | Top |
Niger signs MOU with Chad on oil pipeline
Sat,30 Jun 2012 01:25 AM PDT
Reuters -  NIAMEY (Reuters) - Niger has signed an agreement with neighbouring Chad to construct a 600 km (373 miles) pipeline linking it to the Chad-Cameroon pipeline which will enable it to export its crude, Niger's oil minister said on Friday. Niger is expected to begin operating reserves on four fields at its Agadem bloc by early 2014, and increase its production to 80,000 barrels-per-day of which 60,000 will be exported through the pipeline. ...
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