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Daily Outlook - August 3 - Industries

Clunkers boost sales, Lowes hurt by investments, Opel positives

Germany upbeat on prospects for Opel talks this week

The German government has seen encouraging signals in recent days in negotiations to take over Opel and has positive expectations for talks this week, a government spokesman said on Monday.

Germany, GM to meet Opel bidders Tues: government sources

German government officials and General Motors representatives will meet the remaining bidders for Opel on Tuesday to work on forging a deal on who takes over the GM unit, government sources said on Monday. Two rounds of talks are planned, one with Canadian auto parts supplier Magna and one with RHJ International , a Belgium-based financial investor that traces its or...

Germany, GM to meet Opel bidders Tuesday: government sources

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Germany ups pressure on GM for Opel deal: report

German Foreign Minister Frank-Walter Steinmeier phoned GM's chief executive to underscore Germany's expectations for the sale of GM's Opel unit, a newspaper reported on Saturday.

BP, Total hit by refinery shutdowns

British oil major BP shut Europe's second largest oil refinery on Friday after a power outage, while gasoline units were closed in France and Germany by Total and a joint venture including Shell.

Executive pay limits advance in U.S. Congress

Eye-popping Wall Street bonuses could be banned by the U.S. government if pay packages are deemed to encourage inappropriate risks, under a bill approved on Friday by the U.S. House of Representatives.

Unity Media prepares $1 billion listing: sources

Unity Media, Germany's No. 2 cable operator, is preparing for an initial public offering toward the end of this year, raising as much as 1 billion euros ($1.4 billion), people familiar with the matter said.

Continental AG cap hike passes, CEO under fire

Continental AG won a vote to repair its stretched finances but may lose its chief executive and faces pressure to sell its tires business as a power struggle with its main shareholder drags on.

British Airways costs down, says more cuts needed

British Airways said on Friday it had cut operating costs by around 6.6 percent since last October as it fights to slim down during the downturn, but it had seen no signs of improvement in trading conditions.

World record in the women's 50 swimming smashed by China's Zhaojing

China's Zhao Jing smashed the world record in the women's 50 and won the second gold medal of swimming for China at the FINA World Championships, local Businesstimes reported on Friday morning. Zhao clocked a stunning time of 27.06, which crushed Anastasia Zueva's world record of 27.38.

JP Morgan German head sees lessons from crisis

Karl-Georg Altenburg, head of JP Morgan's German business, said he expects companies to learn from the financial crisis and aim for a stronger capital base in the longer term, according to a German paper.

Opel Task Force member does not see deal by August 3

A member of the German government's Opel Task Force told Reuters on Thursday that negotiations between General Motors GM.UL and the two competing bidders for Opel could drag on longer than expected.

U.S. trust in business bounces back from low

Trust in business has rebounded from 10-year lows in the United States, but the majority of Americans still do not count on corporate America to do what is right, according to a survey released on Thursday.

Asian shares gain, Shanghai see-saws

Chinese stocks see-sawed in skittish trade on Thursday, as the central bank reaffirmed loose monetary policy, while other Asian markets regained enough poise after the previous day's shakeout to edge back to 2009 highs.

Japan carmakers in black, PSA, Daimler turn red

Japanese car manufacturers unexpectedly posted profits on Wednesday and Mercedes-maker Daimler forecast improving performance this year but clear signs of sustained recovery for the world's battered auto sector remained elusive.

Daimler sees earnings improvement after loss

Daimler expects a gradual improvement in the group's operating profitability in the course of this year, it said on Wednesday, after it beat expectations for an even worse second-quarter operating loss.

Japan carmakers stay in black, PSA, Daimler turn red

Japanese car manufacturers unexpectedly posted profits on Wednesday and Mercedes-maker Daimler forecast improving performance this year but clear sings of sustained recovery for the world's battered auto sector remained elusive.

Stock futures signal losses; eyes on Yahoo

U.S. stock index futures pointed to a lower open on Wall Street on Wednesday, as the market braced for more corporate earnings and after a late afternoon sell-off in Chinese stocks rattled investors.

Offshore wind could be next wave for U.S.

The Cape Cod resort area, famous for sandy beaches and centuries-old fishing villages, could in the next few years claim a new title of home to the United States' first offshore wind farm.

Windows Mobile App Store Submission opens

Microsoft Corp has started accepting submission of mobile phone software applications from registered developers.

Magna sweetens Opel bid to soothe critics -sources

Canadian auto parts maker Magna offered to increase the amount of upfront capital it would invest in Opel as part of a bid for the General Motors' European unit, several sources said on Tuesday.

Michael Phelps upset by Biederman, as world record falls

Michael Phelps of the U.S. was upset by Paul Biederman of Germany on Tuesday in the 200-meter freestyle at the world swimming championships in Rome.

Man bites dog? Chinese sue U.S. firms for patent infringement

A Chinese manufacturer filed a patent infringement suit against U.S. retailer giants, marking a rare case that a Chinese firm seeks to enforce patent rights in a U.S. court.

Deutsche Bank ups provisions for economic slump

Deutsche Bank AG braced for an economic slump by raising loan loss provisions in the second quarter, overshadowing a nearly 70 percent rise in net profit driven mainly by its investment bank.

Deutsche Bank profits rise, but loan provisions jump

Deutsche Bank AG's second-quarter net profit rose 68 percent to 1.092 billion euros ($1.56 billion), boosted by its investment banking arm, but loan provisions rose sharply as economic slowdown took its toll.