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  June 2012

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• Breaking News

  • Stock futures hold recent gains as Fed statement looms
    By Rodrigo Campos NEW YORK (Reuters) - Stock futures were up modestly Wednesday, holding on to gains over the last two days ahead of a highly anticipated Federal Reserve statement and news conference. The Fed will release a policy statement at 2:00 p.m. EDT, which will be followed soon after by a news conference with Chairman Ben Bernanke. "The early morning action is not surprising given the fact that we've had two days of position jockeying ahead of the FOMC announcement," said Andre Bakhos, director of market analytics at Lek Securities in New York. ...
  • World Bank watching Fed, ready to respond
    By Paul Ingrassia and Mike Peacock LONDON (Reuters) - The World Bank is concerned about the spillover effects on developing countries of a slowing of U.S. money creation and will move to provide affordable capital when borrowing costs rise, its president said on Wednesday. The U.S. Federal Reserve has sparked a bout of financial market turmoil since its chief, Ben Bernanke, announced on May 22 that the Fed could, before the year is out, begin slowing the pace at which it creates dollars. ...
  • FedEx posts higher than expected profit
    (Reuters) - FedEx Corp posted a bigger than expected quarterly profit as its ground shipment business did well, and the company saw benefits from lower jet fuel prices. FedEx, considered an economic bellwether because of the massive volume of goods it moves across the world, had net income of $303 million, or 95 cents a share for its fourth quarter ended May 31, compared with $550 million or $1.73 a share a year before. But excluding business realignment program costs and aircraft impairment charges, the company earned $679 million, or $2.13 a share. ...
  • Vodafone may trump Liberty with $10 billion cash bid for Kabel: sources
    FRANKFURT/LONDON (Reuters) - Vodafone is discussing a bid of about $10 billion with Germany's No. 1 cable operator Kabel Deutschland and is confident its raised all-cash offer and absence of antitrust issues put it in a better position than rival Liberty Global, two sources familiar with its thinking said on Wednesday. Liberty Global , which owns Unity Media, Germany's No. 2 cable operator, made an 85-euros-a-share offer on Tuesday, two people familiar with the matter said, just days after sources said Vodafone had offered 81-82 euros a share or 7.2 billion euros ($9.6 billion) in cash. ...
  • Tesla recalls some Model S vehicles due to seat-mount defect
    (Reuters) - Electric car maker Tesla Motors Inc said it recalled some Model S cars manufactured between May 10 and June 8 due to a defect in the mounting bracket of the rear seat. "This reduces our confidence that the left hand seat back will be properly retained in the event of a crash," Tesla founder-CEO Elon Musk said in a statement posted on its website. The statement did not specify the number of vehicles affected. Musk said there were no customer complaints and that the company was not aware of any injuries because of the defect. ...
  • Leasing firm CIT orders 30 Boeing 737 MAX planes
    PARIS (Reuters) - Boeing has won an order for 30 of its 737 MAX 8 aircraft worth $3 billion at list prices from leasing firm CIT Group , the two companies said at the Paris Airshow on Wednesday. The deal comprises 10 new aircraft and the conversion of 20 existing 737 orders, with deliveries due in 2019 and 2020, CIT said. It came two days after Boeing announced 737 MAX orders from SkyMark Airlines and TUI Travel . CIT is also "seriously looking" at the 787-10 aircraft that Boeing launched on Tuesday, said Jeff Knittel, president of transportation finance at CIT. ...
  • Obama says U.S. EU free trade deal can boost jobs and growth
    BERLIN (Reuters) - President Barack Obama said on Wednesday a free trade agreement between the United States and the European Union could boost jobs and growth on both sides of the Atlantic and he also stressed the need for economic structural reforms. Speaking at a joint news conference with German Chancellor Angela Merkel in Berlin, Obama also said: "We have a profound stake in each other's success. We agreed that there is more work to do. Not only do we need to grow but we also need to reform our economies structurally." (Reporting by Jeff Mason and Roberta Rampton)
  • Airbus wins A350 order from Air France-KLM
    PARIS (Reuters) - Airbus sealed a long-awaited order for 25 A350-900 aircraft from Air France-KLM worth $7.2 billion at list prices after Rolls-Royce and the airline reached a deal over engine maintenance. The airline also took a further 25 options on the planes, the companies said at the Paris Airshow on Wednesday. Industry sources had told Reuters on Tuesday the carrier was about to announce the deal after talks narrowly avoided collapse. ...
  • China's Wanda aims to launch $1 billion NY hotel project this year: chairman
    BEIJING (Reuters) - Wanda Group, China's largest commercial real estate developer, aims to invest about $1 billion to build a five-star hotel in New York as its third major investment outside its home market, Chairman Wang Jianlin said on Tuesday. The company is now in talks with potential partners for construction of a Wanda hotel and an adjacent apartment building in New York, Wang told Reuters. "It will be announced this year, probably in the third quarter if everything goes smoothly," he said in an interview in his Beijing headquarters overlooking the Chinese capital's busiest boulevard. ...
  • Softbank closer to acquiring Sprint after Dish abandons bid for now
    By Sophie Knight and Sinead Carew TOKYO/NEW YORK (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week. SoftBank Chief Executive Masayoshi Son is now a step closer to sealing the largest overseas acquisition by a Japanese company in history, after winning support from a key shareholder by raising SoftBank's offer to $21.6 billion from $20.1 billion last week. ...

Archive for June 16th, 2012

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