Chinese steel mills offered their first meaningful compromise on iron ore prices on Wednesday, scrambling to salvage annual supply deals with global miners who kept silent one day after a deadline to agree terms.
Auto seating supplier Lear Corp said on Wednesday it would file for Chapter 11 bankruptcy protection in a reorganization supported by key secured lenders and bondholders and that it had obtained $500 million in bankruptcy financing.
Picking through Toyota's suffering U.S. sales performance in June, observers find many well known brands which have suffered at the hands of a down economy but nuggets of positivity in the carmaker's lineup will reveal gains for its Lexus RX sports utility vehicle, Prius hybrid and RAV4, a small SUV.
U.S. auto sales tumbled in June as the economy remained a deep concern for consumers, but Ford Motor Co posted far better results than other large automakers and shot ahead of Detroit rivals passing through federally sponsored bankruptcies.
Major automakers posted better U.S. auto sales for June than in recent months on Wednesday, led by Ford Motor Co as results pointed to signs of some stabilizing in the hard-hit industry.
Boeing Co , the world's second-largest planemaker, is in talks to buy a plant that makes part of the fuselage of its long-delayed 787 Dreamliner, The Wall Street Journal reported on Wednesday.
General Motors Corp (GM) sold a total of 814,442 units from January to June in China, a record for any half-year, the company said in a statement on Wednesday.
Since 2006, U.S. taxpayers have paid nearly $155,000 to send home health nurses to inject twice-daily insulin shots for an elderly, diabetic Miami man.
Major automakers posted better U.S. auto sales for June than in recent months on Wednesday, led by Ford Motor Co as results pointed to signs of some stabilizing in the hard-hit industry.
Ford Fusion was the vehicle with the highest jump in sales for Ford Motor Co. in June, as sales of the majority of the car maker's lineup slipped as summer begins.
The only viable option to save General Motors Corp is a sale of its main assets to a New GM backed by the federal government, a U.S. Treasury official told a bankruptcy court on Wednesday as the automaker sought approval for the deal.
Ford Motor Co said on Wednesday that U.S. sales fell 10.9 percent in June for all of its brands, at the top of its expectations for the only U.S. automaker not supported by emergency government loans.
General Motors said on Wednesday its China vehicles sales rose 38 percent in the first half of 2009 from a year earlier as China's stimulus policies boosted automobile demand.
The only viable option to save General Motors Corp is a sale of its main assets to a New GM, a U.S. Treasury official told a bankruptcy court on Wednesday as the automaker sought approval for the deal.
Celesio's main shareholder Haniel put the brakes on the German drug distributor's foray into the Brazilian market, throwing into doubt a takeover that markets had cheered.
General Mills on Wednesday reported net earnings after tax grew 93 percent to $358.8 million, while net sales grew 5 percent to $3.6 billion.
Constellation Brands Inc reported a better-than-expected quarterly profit on Wednesday as it sold off some alcohol brands and cut costs.
Food maker General Mills Inc reported a jump in net profit, driven by strong sales of its cereals and dough products.
Biogen Idec Inc has licensed rights to Acorda Therapeutics Inc's experimental multiple sclerosis drug outside the United States as the large biotech company expands its MS franchise, the companies said on Wednesday.
Holding company RHJ International posted a sharply wider full-year loss and a 43 percent fall in the value of its portfolio, sparking fresh doubts about its bid for General Motors' Opel unit.
Japan's Shinsei Bank plans to buy rival Aozora Bank in a deal that brings together two loss-making lenders in hopes of building a stronger bank that can return to growth in both retail and corporate banking.
The world's second-biggest brewer SABMiller is to sell 10 percent of its South African unit to black investors in a deal worth $750 million to meet the country's affirmative action rules.
All Nippon Airways Co said it plans to issue shares to raise up to $1.9 billion to shore up its battered finances and buy five more of Boeing Co's long-delayed Dreamliners.
Chinese regulators have given Sichuan Expressway Co final approval to float shares in Shanghai in the mainland's first major IPO since last September, which will raise at least 1.4 billion yuan ($205 million).
Citigroup agreed to sell its Japanese trust bank to a unit of Nomura Holdings for 19 billion yen ($196 million), as it looks to raise cash by exiting businesses in the world's second-largest economy.
Ford Motor Corp. will announce results for its sales in June on Wednesday, with the company's chief U.S. sales analyst saying the industry as a whole is improving and the annualized sales rate could hit 10 million in June sales this year.
U.S. automaker Chrysler Group LLC has stemmed the pace at which it uses cash after emerging from bankruptcy last month as a slimmer company, Chief Executive Sergio Marchionne said in an interview with Bloomberg published on Wednesday.
Major automakers are expected to report the highest sales rate of 2009 when they post results for June, as deep discounts limit industry-wide results to a 30-percent decline.
A U.S. patent research group says it has uncovered evidence that could be used to declare AstraZeneca Plc's patent for its cholesterol fighter Crestor invalid.
Gannett Co. Inc Co, which owns top-selling newspaper USA Today, is laying off more than 1,000 staff to try and combat persistent declines in revenue, the Wall Street Journal reported on Tuesday.
