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Deutsche Bank lawyer found dead in apparent NY suicide: WSJ
BERLIN (Reuters) - Calogero Gambino, a senior Deutsche Bank regulatory lawyer, has been found dead in New York in what appears to have been a suicide, the Wall Street Journal reported on Saturday, citing New York City officials and other sources. The 41-year-old man was found early on Oct. 20 hanging by the neck from a stairway banister, the newspaper said. Gambino, an associate general counsel and a managing director who worked for the German bank for 11 years, was found by his wife and pronounced dead by medical practitioners at the scene, according to the paper. ...
UK's Lloyds to cut 9,000 jobs over next three years: sources
LONDON (Reuters) - Lloyds Banking Group will next week announce plans to cut 9,000 jobs over the next three years, sources familiar with the matter told Reuters on Wednesday. The cuts amount to about 10 percent of Lloyds' workforce and will be announced as part of Chief Executive Antonio Horta-Osorio's strategy review next Tuesday, the sources said. Horta-Osorio's new three-year plan is expected to include the closure of some branches as the bank responds to a growing number of transactions being executed online, and the automation of some back-office functions. ...
Areva-Siemens raises claim to $4.4 billion over Finnish reactor delays
HELSINKI (Reuters) - The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO), TVO said late on Friday. TVO and Areva have traded accusations about who is to blame for delays and extra costs, and the International Chamber of Commerce's (ICC) arbitration court is processing a dispute on cost overruns between the two sides. ...
China's auto market growth may halve to 7 percent this year: industry body head
SHANGHAI (Reuters) - Growth in China's auto market, the world's biggest, will halve to 7 percent this year weighed down by a slowing economy, the head of an industry body said on Saturday. "Personally, I think growth this year can reach 7 percent," Dong Yang, secretary general of the China Association of Automobile Manufacturers (CAAM), told reporters on the sidelines of an industry conference in Shanghai. "The economy is slowing. The auto industry would reflect that but typically lags the economic cycle by a bit." CAAM had forecast China's auto market, which grew by 13. ...
India's finance minister favors interest rate cut: paper
NEW DELHI (Reuters) - India's Finance Minister Arun Jaitley favors a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has signal it will not ease policy until it is confident of lower inflation. In May, Prime Minister Modi was elected on promises that his government would create jobs and rejuvenate the Indian economy, but experts were disappointed by Jaitley's first budget and a lack of early progress on fixing structural economic problems. "Currently, interest rates are a disincentive. ...
Wall St. ends lower after shooting at Canadian parliament
By Yasmeen Abutaleb NEW YORK (Reuters) - U.S. stocks erased earlier gains to close lower on Wednesday as a shooting at the Canadian parliament unnerved investors, Boeing and Biogen sold off following results, and energy stocks fell along with oil prices. Indexes had traded in positive territory for much of the session, putting the S&P 500 on track for a fifth straight day of gains. Earnings initially drove the move higher, with technology and material shares up on the back of strong results. ...
AT&T revenue rises less than expected
By Marina Lopes WASHINGTON (Reuters) - AT&T Inc said on Wednesday its quarterly revenue rose but by less than wall street anticipated as a wave of subscribers signed up for equipment financing plans that charge lower service fees. AT&T shares fell 0.9 percent to $33.75 after closing at $34.50 on the New York Stock Exchange. The company reported a record low number of customer defections, but average revenue per phone user fell 8 percent from a year earlier. AT&T added 2 million new wireless customers and 785,000 contract subscribers in the quarter. ...
U.S. prosecutors probe Takata Corp over statements: WSJ
NEW YORK (Reuters) - U.S. federal prosecutors are trying to determine whether Japanese auto parts maker Takata Corp misled U.S. regulators about the number of defective air bags it sold to automakers, including Toyota Motor Corp and Honda Motor Co Ltd, The Wall Street Journal reported on Wednesday. Word of the investigation follows a notice on Tuesday from the U.S. auto regulator, the National Highway Traffic Safety Administration, which increased the number of cars potentially affected by defective air bags made by Takata to at least 7.8 million, up from the roughly 4. ...
U.S. inflation muted in September as energy costs drop
By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer prices rose marginally in September, painting a weak inflation picture that should give the Federal Reserve ample room to keep interest rates low for a while. The Labor Department said on Wednesday its Consumer Price Index edged up 0.1 percent last month as a rise in food and shelter costs offset a decline in energy prices. ...
Boeing profit jumps 18 percent; raises 2014 earnings view
By Alwyn Scott (Reuters) - Boeing Co reported an 18 percent increase in quarterly profit and raised its full-year core earnings forecast for the third time, reflecting booming commercial aircraft demand and increasing profitability in its defense business. But shares of the Chicago-based aerospace and defense giant slipped 1.5 percent in early trading, as analysts viewed the profit gain as a given and raised concern about signs that the costs of the 787 Dreamliner were creeping higher. The company earned $1.36 billion, or $1.86 per share, for the third quarter ended Sept. 30, up from $1. ...
U.S. regulators expand number of vehicles affected by Takata recalls
By Ben Klayman DETROIT (Reuters) - U.S. safety regulators on Wednesday expanded the number of vehicles in the United States that may be affected by recalls for potentially defective Takata Corp air bags that could spray shrapnel at occupants. The U.S. National Highway Traffic Safety Administration (NHTSA) said in a statement the number of vehicles from 10 automakers covered by recalls this year and in 2013 is now 7.8 million, up 28 percent from the 6.1 million announced on Tuesday. ...
Total names refining boss to replace de Margerie
By Michel Rose PARIS (Reuters) - French oil company Total has appointed refining boss Patrick Pouyanne as chief executive to succeed Christophe de Margerie who was killed in a plane crash in Moscow this week. Pouyanne, 51, head of refining, had been considered as possible candidate to succeed de Margerie in the past and has a reputation as a shrewd cost-cutter. The world's fourth largest oil company also named Thierry Desmarest, a former Total CEO, as non-executive chairman. The appointments came less than 48 hours after de Margerie's death. ...
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