U.S. takes center stage in EU hedge fund row
Debate over controversial EU laws on hedge funds shifted to the United States on Monday as a key industry body warned of protectionist aspects of the rules which have prompted Washington to lobby for changes. The Alternative Investment Management Association said the planned laws on alternative investment funds create potentially major difficulties and loss of business for funds and investors...
ArcelorMittal eyes $3 bln stainless spin-off
ArcelorMittal, the world's largest steelmaker is looking into a possible joint venture spin-off of its stainless steel business, worth around $3 billion, the Financial Times reported on Monday.
EnerDel, Think Globlal to supply tech to convert Japan Post fleet to EV's
U.S. based battery maker EnerDel and electric car maker Think Global said today Japan Postal Service is testing an electric drivetrain developed by the companies which can convert gasoline-powered delivery trucks to electric vehicles.
Tata Motors Q1 net surges, JLR worries remain
India's Tata Motors Ltd reported an unexpected surge in first-quarter net profit, helped by a change in accounting policy, but concerns remain over its loss-making Jaguar Land Rover unit and how it will strengthen its balance sheet.
Verizon profit falls, eyes 8,000 job cuts
Verizon Communications Inc posted a lower quarterly profit and said it would cut 8,000 jobs in its wireline business, as weakness in wholesale and corporate segments overshadowed wireless growth.
Volkswagen mulls funding options for Porsche deal
Volkswagen, Europe's largest carmaker, is considering a capital increase as one option among many to finance its takeover of debt-laden sports car maker Porsche, bankers familiar with the situation said.
Honeywell CFO sees cost cuts paying off
Honeywell International Inc is counting on the payoff from cost cutting to boost its fourth-quarter results and allow it to hit its lowered 2009 profit target, the diversified U.S. manufacturer's chief financial officer said on Monday.
Mid-Day Minute - July 27
New home sales beat, Verizon job cuts, Oil demand to rise
Honeywell profit meets estimates, trims forecast
Diversified U.S. manufacturer Honeywell International Inc reported a 38 percent drop in earnings that matched Wall Street's forecasts and cut its full-year profit forecast to the bottom of its prior range.
Midday Minute - July 27- Energy
Demand for oil around the world is expected to increase by 900,000 barrels per day to 84.9 million bpd in 2010. The U.S. Department of Energy awarded the states of Nevada, Rhode Island, Vermont and Wisconsin with more than $54 million in funds from the stimulus package, to develop energy efficiency and renewable energy projects.
Palin's farewell speech (Full transcript)
Alaska Governor Sarah Palin stepped down from her position on Sunday at 3p.m. local time and delivered a farewell speech, the following is her speech full transcript:
Wall St drops as outlooks, profit-taking weigh
Stocks dipped on Monday as profit-taking and worrying outlooks from companies such as Aetna Inc overshadowed data that hinted the housing market was stabilizing.
Why Obama wants Healthcare reform?
Health care reform in U.S. is a hot topic discussed everywhere from President Obama to any adult who tried to access affordable healthcare in the past decade.
Company to create Jackson's hair into real diamonds
A Chicago company said on Friday it had obtained some of the hair that Michael Jackson burned in a 1984 Pepsi commercial and planned to create a limited edition of diamonds from it.
Teen escapes jail over bomb hoax
A British teen-ager who phoned the White House and claimed as part of a drunken prank that there was a bomb in the center of New York, escaped jail on Monday.
France's Sarkozy to ease up after dizzy spell
French President Nicolas Sarkozy will reduce his workload for a few days after suffering a dizzy spell brought on by jogging in hot weather and a heavy schedule, his office said on Monday.
EU extends Georgia mission, holds off on U.S. joining
EU nations on Monday extended a ceasefire monitoring mission in Georgia for another year, but did not discuss the possibility of other countries, including the United States, joining the mission.
Iran's Mousavi says protests will continue: website
Iran's opposition leader Mirhossein Mousavi said on Monday the pro-reform protests which erupted after the country's disputed June presidential vote will continue, his website reported.
Volkswagen mulls 4 bln euro capital hike -FT
Volkswagen (VOWG.DE), Europe's largest carmaker, is considering raising up to 4 billion euros ($5.7 billion) ahead of a takeover of Porsche (PSHG_p.DE) to protect its credit ratings, the Financial Times reported on Monday.
Opel labor demands more say in disposal decision
Opel's labor force demanded greater say in the process of selecting a future investor for the German carmaker and called on former parent General Motors GM.UL to forgo any right to buy back a stake at a later point.
India's Tata Motors Q1 up 58 pct, beats f'cast
Tata Motors Ltd (TAMO.BO), India's largest vehicle maker, reported a 58 percent rise in net profit, with a change in accounting policy and lower costs seeing it defy forecasts for a halving of profit and sending its shares up.
Palin steps down as Alaska governor
Republican Sarah Palin stepped down as governor of Alaska on Sunday, vowing in a farewell address to continue fighting for Alaskans but giving no hint on whether she will seek an elective office again.
Japan carmakers Q1 seen weak but trend improving
Japan's top automakers will report weak first-quarter results hit by a stronger yen and production cutbacks, but most expect a steady improvement in coming quarters helped partly by government programmes to encourage car purchases and progress in cost-cutting.
T Rowe, TPG among anchor investors for Adani-sources
U.S. funds T Rowe Price and TPG are among anchor investors for Indian utility Adani Power's initial public offer to raise as much as $623 million, two sources with knowledge of the deal said on Monday.
Nissan says working on hybrid system for smaller cars
Nissan Motor Co is developing a hybrid system that can be used to power smaller cars as an interim solution to improving mileage before pure electric cars can take over, a top executive said on Monday.
U.S. solar startup Suniva gets $75 mln in funding
U.S. solar startup Suniva Inc said on Monday it completed a $75 million financing round led by private equity firm Warburg Pincus.
Obama calls for deeper U.S.-Chinese ties
President Barack Obama called for deeper U.S.-Chinese economic cooperation on Monday and outlined a broad agenda for a positive relationship between two countries that do not always see eye to eye.
Citigroup to close consumer finance in Italy
Citigroup Inc is closing its consumer finance business in Italy and will reduce its employees in the country to about 500 from 1,000 as part of its plans to focus on the Citicorp business.
Coal miner Alpha's net plummets, shares lower
Alpha Natural Resources Inc said second-quarter profit dropped more than 75 percent because of lower demand from power producers and steelmakers.
First Niagara to buy Harleysville National for $5.5/shr
First Niagara Financial Group Inc said it agreed to buy Harleysville National Corp for $5.50 per share, or $237 million, in stock to create a strong foothold in Pennsylvania.
