Archive for June, 2011
HSBC adds to sweeping bank job cuts in Europe
By Sarah White and Steve Slater LONDON (Reuters) – HSBC Holdings Plc is poised to chop about 700 jobs in its UK retail bank arm, as staff cuts begin in earnest at banks across Europe battling a limp economic recovery, trading woes and tougher regulation. The fresh round of layoffs, affecting Switzerland’s Credit Suisse Group [...]
Senate cancels break as budget battle heats up
By Andy Sullivan and Richard Cowan WASHINGTON (Reuters) – Democrats stepped up their attack in a tense budget battle with Republicans on Thursday as the Senate canceled its July 4 recess and a top lawmaker accused Republicans of deliberately sabotaging the economic recovery. With time running short before a possible default in early August, Senate [...]
FDIC to meet next week on new liquidation powers
By Dave Clarke WASHINGTON (Reuters) – The Federal Deposit Insurance Corp board will meet next week to consider rules for putting into place the agency’s new powers to liquidate large, failing financial firms. The meeting will be the last for Chairman Sheila Bair, who joined the agency in 2006 and is stepping down from her [...]
Midwest business barometer jumps in June
CHICAGO (Reuters) – Business activity in the U.S. Midwest grew more than expected this month, helped by a jump in new orders, a report showed on Thursday. The Institute for Supply Management-Chicago’s business barometer rose to 61.1 in June, above the 56.6 in May and economists’ expectations for a drop to 54. The unexpectedly strong [...]
U.S. Midwest business barometer jumps in June
CHICAGO (Reuters) – Business activity in the U.S. Midwest grew more than expected this month, helped by a jump in new orders, a report showed Thursday. The Institute for Supply Management-Chicago’s business barometer rose to 61.1 in June, above the 56.6 in May and economists’ expectations for a drop to 54. The unexpectedly strong reading [...]
Russia says arming Libyan rebels violates U.N. vote
MOSCOW (Reuters) – Russian Foreign Minister Sergei Lavrov said on Thursday that arming Libyan rebels was a “crude violation” of a U.N. Security Council resolution that imposed a comprehensive arms embargo on Libya from February. “We asked our French colleagues today whether reports that weapons from France were delivered to Libyan rebels correspond with reality,” [...]
Greek lawmakers back reforms, clear way for more aid
By Renee Maltezou and Annika Breidthardt ATHENS/BERLIN, June 30 (Reuters) – The Greek parliament approved detailed austerity and privatisation bills on Thursday in a crucial vote to secure emergency funds and avert imminent bankruptcy, but longer-term dangers still lurk. Prime Minister George Papandreou secured a majority for the legislation after lawmakers backed a 28 billion [...]
Chevy U.S. car sales at highest brand share in 20 years
By Ben Klayman DETROIT (Reuters) – General Motors Co’s U.S. Chevrolet car sales in the first half of the year are set to reach their highest share for the brand in 20 years, outselling trucks in June for the third straight month. Chevy cars accounted for just above 50 percent of the brand’s total U.S. [...]
Delta will decide on plane order by year-end
NEW YORK (Reuters) – Delta Air Lines Inc will make a decision on buying planes by the end of the year, its chief executive said on Thursday. “We’ll make a fleet decision by the end of the year on mid-body replacement,” CEO Richard Anderson said, adding that the decision would likely come before the U.S. [...]
US govs warn against overreaching on fuel standard
DETROIT (Reuters) – Fifteen U.S. state governors urged federal regulators to take jobs and the weak economy into account when drafting new fuel economy standards for 2017 through 2025, warning against “overreaching” when setting the new miles-per-gallon rate. The governors, all of whom are Republicans and most of whom represent states with auto plants, warned [...]
