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  July 2012

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• Breaking News

  • Wall St. to open little changed as Fed statement looms
    By Rodrigo Campos NEW YORK (Reuters) - Stocks were set to open little changed on 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 briefing 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. ...
  • Orders top $100 billion as Ryanair gives Boeing a boost
    By Alwyn Scott and Maria Sheahan PARIS (Reuters) - Orders at the Paris Airshow surpassed $100 billion on Wednesday, as planemakers Boeing and Airbus cashed in on demand for fuel-efficient jets and growth in both budget carriers and emerging markets. Ryanair, Europe's biggest low-cost airline, finalized an order for 175 Boeing 737-800 aircraft worth around $15.6 billion at list prices on day three of the aerospace industry's showcase event, the largest single order ever placed by a European airline with the U.S. group. ...
  • FedEx shares dip on growth concerns
    (Reuters) - FedEx Corp said on Wednesday it was cutting its capacity between the United States and Asia, sending its shares lower on concerns about future growth, even as the world's biggest air-freight company posted a stronger-than-expected profit. The company, considered an economic bellwether because of the massive volume of goods it moves around the world, is still trying to adjust to increasing demand for cheaper ground transport rather than pricier but faster air shipping. ...
  • 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 cars due to seat-mount defect
    (Reuters) - Electric car maker Tesla Motors Inc said it is recalling 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. "This reduces our confidence that the left hand seat back will be properly retained in the event of a crash," Tesla founder and Chief Executive Elon Musk said in a statement on Wednesday posted on the company's website. The recall blemishes a clean public record for the Model S, which received a near-perfect score from the influential Consumer Reports magazine. ...
  • Lockheed, Mitsubushi Heavy sign deal for F-35 assembly
    PARIS (Reuters) - Lockheed Martin Corp has signed a contract with Mitsubishi Heavy Industries Ltd to begin work on a final assembly and check-out plant for the F-35 Joint Strike Fighter in Japan, it said on Wednesday. Steve O'Bryan, Lockheed vice president on the F-35 program, announced the contract agreement at the Paris Airshow. He declined to give details on the value of the contract. A similar facility built in Italy to assemble F-35 jets in Europe cost an estimated 800 million Euros ($1.1 billion). (Reporting By Andrea Shalal-Esa; Editing by Greg Mahlich)
  • 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)
  • 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. ...
  • 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. ...

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