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Boeing to cut 747-8 production in half as demand slows
Boeing Co said on Thursday it will cut production of its 747-8 jumbo jet in half and take a $569 million charge in the fourth quarter as it faces dwindling sales. “The air cargo market recovery that began in late 2013 has stalled in recent months and slowed demand for the 747-8 freighter,” Ray Conner, chief executive of Boeing Commercial Airplanes, said in a statement. Boeing has disclosed... [Read more]
Yahoo to decide next strategic steps after quarterly earnings: sources
Yahoo Inc will decide on its next strategic steps only after releasing quarterly earnings on Feb. 2, people familiar with the matter said, as the company continues to resist investor calls to explore a sale of its core Internet assets. Yahoo wants to gauge shareholder reaction after presenting its strategic vision during the earnings conference call, one of the people said. Yahoo this month rebuffed... [Read more]
Iraq’s southern oil exports running at 3.3 million bpd, unaffected by clashes
Iraq's exports from its southern region have been running at an average daily rate of 3.297 million barrels per day (bpd) so far this month, higher than December's average and unaffected by tribal clashes, an oil company executive said on Saturday.All the fields are running normally, state-run South Oil Co.'s deputy director general Salah Mahdi told Reuters in an interview in Basra.... [Read more]
Wal-Mart pulls plug on smallest stores, shuts 269 locations
The move includes Wal-Mart's largest-ever single culling in the United States, where the company is closing 154 stores. The world's largest retailer said it hoped to transfer many of the 10,000 U.S. and 6,000 See more here: Wal-Mart pulls plug on smallest stores, shuts 269 locations Read More →
GE moving headquarters to Boston for tech talent, tax cut
By Alwyn Scott NEW YORK (Reuters) – General Electric Co said on Wednesday it will move its global headquarters to Boston, tapping the city's technology talent and likely lowering its tax bill as the industrial conglomerate seeks to lift profit and emphasize digital capabilities. “We want to be at the center of an ecosystem that shares our aspirations” as a leader in digital- The... [Read more]
Ex-politician John Edwards among lawyers vying for lead role in Volkswagen suit
Edwards, who was a trial lawyer in North Carolina before his political career was felled by a sex scandal, sent a letter to U.S. District Judge Charles Breyer of San Francisco last Friday, asking to be appointed to the powerful plaintiffs' steering committee. “This case has ingredients I've spent my life working on,” Edwards told Reuters in an interview on Monday. The litigation... [Read more]
Exclusive: With luxury Acura makeover, Honda aims for brand survival, China revival
As part of a broader makeover, and even the survival, of its stalled luxury Acura brand, Japan's Honda Motor Co will launch a new small crossover sport utility vehicle this year in China to compete with BMW and Audi in the world's biggest car market, two individuals closely involved in the effort said. Reviving Acura is … Go here to see the original: Exclusive: With luxury Acura makeover,... [Read more]
China forex regulator says will ramp up risk control efforts
China's foreign exchange regulator said on Saturday it will ramp up risk control efforts, push ahead with regulatory reforms and look to accelerate the development of the country's foreign exchange market in 2016. The State Administration of Foreign Exchange (SAFE) made the comments in a statement on its website after concluding an internal meeting. It will also continue to promote the orderly... [Read more]
Yahoo looking to slash 10 percent or more of its workforce – Business Insider
“We are not confirming this rumor or commenting further”, Sarah Meron, a spokeswoman for Yahoo told Reuters on Thursday in an e-mail. This move follows activist investor Starboard Value LP's letter to Yahoo on Wednesday ramping up Read the original: Yahoo looking to slash 10 percent or more of its workforce – Business Insider Read More →
United Airlines fined $2.75 million over treatment of disabled, tarmac delays
The U.S. Transportation Department said it fined United Airlines $2.75 million on Thursday for breaking rules protecting air travelers with disabilities and prohibiting long tarmac delays. The airline, part of United Continental Holdings Inc, was also ordered not to break those rules in future, the department said in a statement. Original post: United Airlines fined $2.75 million over treatment... [Read more]