New Belgian finance minister nominated
03/06/2013 2:58am
A Belgian government spokesman says economics professor Koen Geens has been nominated to head the finance ministry.
Swatch surprises investors with report in dialect
03/06/2013 5:21am
How to show your attachment to your small Alpine country when you're a globally known watch manufacturer? Try writing your annual financial report in the local dialect impenetrable to outsiders.
France starts shaking up labor laws
03/06/2013 5:35am
France's Socialist government has unveiled a plan to relax and simplify labor laws in hopes of stemming job losses that are threatening Europe's second-largest economy.
Thomas Cook considers 2,500 job cuts
03/06/2013 5:54am
Vacation tour operator Thomas Cook says it is considering cutting about a fifth of its workforce as it enters the next phase of a three-year program to restructure its operations.
Egyptian steel tycoon jailed for profiteering
03/06/2013 6:21am
An Egyptian court on Wednesday convicted a Hosni Mubarak-era steel magnate of profiteering and squandering public funds, and handed him a 37-year prison sentence and $296 million fine _ the heaviest penalty yet against a former regime official since the longtime autocrat's fall two years ago.
Renault CEO: Let shareholders vote on exec pay
03/06/2013 6:25am
Just days after Swiss voters struck a blow against corporate greed, Renault's CEO Carlos Ghosn gave his support to the idea of giving shareholders more power over pay packages.
As middle class grows, global brands hit Nigeria
03/06/2013 6:34am
Inside this 1950s-style American diner, waitresses softly sing along to Aretha Franklin as they sling hamburgers and whip up milkshakes. The jukebox belts out Ritchie Valens as a customer wearing a Muslim prayer cap and flowing blue robes ambles in.
Germany: Will fight female boardroom quotas
03/06/2013 6:34am
Germany's foreign minister says Berlin will fight a European Union proposal to introduce mandatory quotas for the number of women on the boards of private companies.
EU probes Germany's energy discounts for industry
03/06/2013 6:37am
The European Commission formally launched an investigation Wednesday to find out whether energy price cuts granted to industrial clients in Germany is a hidden form of state aid.
Vattenfall cuts 2,500 jobs, most in Germany
03/06/2013 8:27am
Swedish power company Vattenfall says it will slash nearly 2,500 jobs, most of them in Germany, in an effort to cut costs by 4.5 billion kronor ($700 million) by the end of 2014.
New Chinese carmaker eyes European market
03/06/2013 8:30am
A Geneva Motor Show newcomer is threatening to shake up the European automotive industry.
UK civil servants to strike over pay, pensions
03/06/2013 9:22am
British civil servants are planning to strike this month amid an ongoing dispute over pay, pensions and working conditions.
News Summary: EU probes Germany's energy discounts
03/06/2013 10:06am
PULLING THE PLUG? The European Commission formally launched an investigation to find out whether energy price cuts granted to industrial clients in Germany is a hidden form of state aid.
Nasdaq, SharesPost team up on private stock market
03/06/2013 10:15am
Nasdaq OMX Group Inc. said Wednesday it will partner with private stock exchange SharesPost to develop a new market for unlisted companies.
Minimum wage; investment in education; and good news in housing
03/06/2013 10:17am
Is increasing the minimum wage good for business? Why funding education is a sound investment and the finicky housing market is on an uptick.
Delta boosts Los Angeles flying
03/06/2013 11:11am
Delta is adding flights in Los Angeles, continuing a slow-but-steady buildup in one of the world's biggest markets for air travel.
Exxon Mobil predicts lower production this year
03/06/2013 11:16am
Exxon Mobil Corp. expects production to decline by about 1 percent this year due to weaker output of natural gas, then rise in the next few years as new projects start up.
Ferrari and McLaren unveil hybrid supercars
03/06/2013 11:36am
Hybrids aren't just for fuel economy any more.
GM to hire 1,000 for tech center near Phoenix
03/06/2013 12:01pm
General Motors says it will hire 1,000 workers to staff an information technology center in suburban Phoenix.
How the Fed compiles the Beige Book, at a glance
03/06/2013 12:21pm
Eight times a year, the Federal Reserve issues the Beige Book, a snapshot of business conditions in each of the Fed's 12 regional bank districts. The findings are all anecdotal; there are no numbers. The Beige Book is updated two weeks before each meeting of the Fed's policymaking meeting in Washington.
Chavez death brings uncertainty, hope to oil patch
03/06/2013 12:23pm
Following Tuesday's death of Hugo Chavez, Venezuela faces near-term political uncertainty that could bring further turmoil to its oil industry.
Vornado confirms it's sold 40 pct of Penney stake
03/06/2013 12:29pm
The latest blow to struggling J.C. Penney: One of its biggest shareholders confirmed that it's sold more than 40 percent of its stake. Vornado Realty Trust's move is perhaps the biggest indicator yet that investors are losing patience with a turnaround strategy that has failed to win over shoppers.
Rosneft buys stakes in Exxon Gulf of Mexico blocks
03/06/2013 2:05pm
Russian oil company Rosneft is buying a 30 percent share of 20 exploration blocks held by ExxonMobil in the deep waters of the Gulf of Mexico.
Stocks edge up following record day for the Dow
03/06/2013 2:21pm
The Dow Jones industrial average is pushing further into record territory, a day after surging past its previous all-time high.
Highlights from the Fed's US economic survey
03/06/2013 2:39pm
A Federal Reserve survey released Wednesday found the U.S. economy grew in most parts of the country in January and February, helped by stronger auto sales, better hiring and further gains in housing.
Fired employee sues Deutsche over whistleblowing
03/06/2013 3:04pm
A former employee is suing Deutsche Bank, saying he was fired in retaliation for raising questions about problems with the bank's systems and charges that were erroneously slapped on some customers as a result.
Taco Bell fans mad after Cool Ranch tacos hiccup
03/06/2013 3:40pm
Some Taco Bell fans are angry after they couldn't get their hands on the chain's new tacos made with Cool Ranch Doritos shells a day early.
Coca-Cola puts new sweetener in U.K. Sprite
03/06/2013 4:00pm
It's about to get difficult finding a can of regular Sprite in the United Kingdom.
Disney shareholders back exec compensation plan
03/06/2013 4:43pm
The Walt Disney Co. says its shareholders voted in favor of the company's board member recommendations and executive compensation plan at the entertainment company's annual meeting.
Staples 4Q hit by charges, forecast misses view
03/06/2013 5:03pm
Costs related to Staples turnaround plan helped drive down the office supplier's fourth-quarter net income by 72 percent. Its quarterly revenue and financial outlook for the year missed Wall Street's expectations.
Time Warner spinning off Time Inc. magazines
03/06/2013 6:30pm
Time Warner Inc. said Wednesday that it will spin off the magazine unit behind Time, Sports Illustrated and People into a separate, publicly traded company by the end of the year, ending a media marriage that has lasted more than two decades.
Kia concept car 'Provo' reminds some of IRA terror
03/06/2013 6:55pm
Kia's new concept car, the Provo, is designed to provoke comment. But to many across Britain and Ireland, the name sounds like a celebration of terrorism.
Asset sales help triple Carrefour's 2012 profits
03/06/2013 11:57pm
French big box retailer Carrefour's pullout of struggling underperforming markets and asset sales more than tripled its profits in 2012.
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