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Airbus offers Poland joint ventures, no urgency in share stake
By Wiktor Szary KIELCE Poland (Reuters) - Airbus Group is interested in setting up joint ventures to support the Polish defense industry but has downplayed the question of Warsaw taking a direct shareholding in the European aerospace group. In December, the Polish government said it would consider buying a stake in Airbus Group, then known as EADS. Polish media have said the east European country is interested in taking a 1-2 percent stake in Toulouse, France-based Airbus Group. Talk of integration expanded in July when the head of the company's helicopters division told Reuters that Poland could become Airbus's fifth core nation alongside Britain, France, Germany and Spain, in a partnership designed in part to support its bid for a military helicopter contract.
Switzerland urged to step up fight against ill-gotten funds
Switzerland is not doing enough to rid itself of ill-gotten funds, despite loosening its banking secrecy, and should now beef up its law against money laundering, an global corruption watchdog said on Tuesday. Cobus de Swardt, head of the Berlin-based group Transparency International, said Berne needed to prevent ill-gotten funds from being hidden or laundered, for example through cash purchases of luxury goods or property. In May, Switzerland said it would do away with banking secrecy by joining the growing ranks of countries agreeing to share tax information. While it has a law against money laundering, no substantial checks are required on cash purchases at the many luxury shops, art dealers and jewelers that dot the high streets of cities such as Geneva and Zurich.
U.S. court revives shareholder lawsuit vs. Allergan over Botox
SAN FRANCISCO (Reuters) - A U.S. appeals court on Tuesday revived a shareholder lawsuit against Allergan Inc over allegations that the company improperly marketed and labeled the cosmetic drug Botox. The ruling, from the 9th U.S. Circuit Court of Appeals in San Francisco, said plaintiff shareholders had alleged enough specific facts to proceed. (Reporting by Dan Levine; Editing by Chizu Nomiyama)
Boeing shares slip after first 'underperform' rating since 2009
By Alwyn Scott NEW YORK (Reuters) - Boeing Co shares slipped 1.3 percent on Tuesday after a pair of downgrades from highly ranked analysts, including one who cut the stock outlook to "underperform." The underperform rating by The Buckingham Research Group, a New York-based broker-dealer, marked the first such rating for Boeing's stock since 2009, according to data by Thomson Reuters. In 2009, Boeing was suffering from delays in bringing its 787 Dreamliner to market. Buckingham also cut its price target for Boeing shares to $101, well below the current price of over $125. Analyst Richard Safran, ranked third among 23 Boeing analysts for estimate accuracy and recommendation performance, wasn't immediately available for comment.
U.S. manufacturing sector accelerates in August: ISM
The Institute for Supply Management (ISM) said its index of national factory activity rose to 59.0 from 57.1 the month before. A reading above 50 indicates expansion in the manufacturing sector.
U.S. construction spending hits highest level in 5-1/2 years
Construction spending increased 1.8 percent to an annual rate of $981.31 billion, the highest level since December 2008, the Commerce Department said on Tuesday. July's percentage increase was the largest since May 2012 and reflected gains across all categories, with the exception of federal government. Economists polled by Reuters had forecast construction spending increasing 1.0 percent after a previously reported 1.8 percent drop in June. Construction spending in July was buoyed by a 3.4 percent jump in state and local government projects, which lifted outlays to their highest level since June 2012.
U.S. factory activity expands in August at fastest pace since April 2010: Markit
Financial data firm Markit said its final U.S. Manufacturing Purchasing Managers Index rose to 57.9 in August from 55.8 in July, marking its highest level since April 2010.
Halliburton to settle U.S. Gulf spill claims for $1.1 billion
(Reuters) - Halliburton Co said it reached a $1.1 billion settlement for a majority of claims against the company for its role in the BP oil spill in the Gulf of Mexico in 2010.
Exclusive: 'Back to normal' for AstraZeneca CEO, despite Pfizer rumors
By Ben Hirschler BARCELONA (Reuters) - Though speculation is rife of a new Pfizer bid, AstraZeneca's chief executive is not holed up with advisers in London or New York. Instead, he has spent the last three days immersed in heart science in Barcelona. "The only thing I can tell you is I am here - and imagine where I would be if something was happening!" Pascal Soriot told Reuters on the sidelines of the European Society of Cardiology congress, the world's largest heart meeting. Strict British takeover rules limit what Soriot and other players can say about Pfizer's abortive attempt to buy AstraZeneca and the possibility of a resumption of talks.
Goldman cuts price target on Bombardier; sees further CSeries delay
Goldman Sachs cut its price target on Bombardier Inc and reiterated a "sell" rating on shares of the train and plane maker on Tuesday, warning it expected the CSeries aircraft's entry into service to be delayed again. Goldman's price cut came just days after a Swedish carrier backed out as the first customer to start commercial flights with its new CSeries jet. Malmo Aviation, owned by Sweden's Braathens Aviation, was slated to be the first CSeries customer to take delivery of the new jet in the second half of 2015, but the airline said on Friday that will no longer be the case. "We believe the CSeries will negatively impact Bombardier's financial results and create negative catalysts for the next several years," Goldman analyst Noah Poponak said in a note to clients.
Exclusive: Alitalia, Etihad deal likely to be cleared by end-2014 - source
Italian airline Alitalia and Etihad Airways are expected to seek European Union antitrust approval for their deal this month and win clearance by the end of the year after minor concessions, a person familiar with the matter said on Tuesday. Abu Dhabi-based Etihad clinched a deal last month to buy 49 percent of lossmaking Alitalia for 1.76 billion euros ($2.31 billion), giving it access to Europe's fourth-largest travel market and 25 million passengers. "The deal is expected to be notified to the European Commission this month. A phase 1 review by the EU antitrust authority lasts 25 working days, which is extended by 10 additional working days if companies offer concessions to allay competition concerns.
Futures inch higher ahead of manufacturing data
Investors will eye the final August reading on the manufacturing sector from financial data firm Markit at 9:45 a.m. (1345 GMT). At 10 a.m. (1400 GMT), the Institute for Supply Management's August reading on manufacturing will be released.
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