Reuters: Business News

Asian shares struggle, euro wins respite

Mon, 08 Feb 2010 22:54:09 -0500

TOKYO (Reuters) - Asian share markets struggled to hold firmer ground on Tuesday but won some respite from recent losses, while the euro rose tentatively as investors took a break from selling it off over fiscal concerns in the euro zone.

Toyota recalls Prius, other hybrids over brake woes

Tue, 09 Feb 2010 01:52:24 -0500

TOKYO/DETROIT (Reuters) - Toyota Motor Corp said it is recalling nearly half a million of its flagship Prius and other hybrid cars for braking problems as it seeks to address criticism over the handling of its worst safety crisis.

UBS back to profit in Q4, outflows accelerate

Tue, 09 Feb 2010 01:56:24 -0500

ZURICH (Reuters) - Swiss bank UBS posted its first quarterly net profit since Oswald Gruebel took the helm a year ago, but client withdrawals rose well above forecasts, signaling he may need more time to steady the ship.

Toyota pledges more responsiveness to U.S. regulators

Tue, 09 Feb 2010 01:01:43 -0500

WASHINGTON (Reuters) - Toyota Motor Corp President Akio Toyoda wrote in an article published on Tuesday that he has promised the top U.S. transportation official the troubled automaker will be more vigilant in the future about responding to safety regulators.

Macquarie outlook disappoints; shares slide 7 percent

Tue, 09 Feb 2010 01:14:25 -0500

SYDNEY (Reuters) - Macquarie Group , Australia's top investment bank, forecast a disappointing second-half profit and gave an outlook that raised worries about its key equity business, sending its shares sliding 7 percent.

CIT sets John Thain's salary at $6 million a year

Mon, 08 Feb 2010 18:02:54 -0500

NEW YORK (Reuters) - CIT Group Inc said its new Chief Executive John Thain will get an annual base salary of $6 million, most of which is in stock, and a bonus of up to another $1.5 million, in a nod to compensation practices popularized by the Obama administration's pay czar.

Fed's Dudley: Financial reform needs global scope

Mon, 08 Feb 2010 19:22:10 -0500

WASHINGTON (Reuters) - A revamp of the financial system needs to be global in nature to prevent a repeat of the worst financial crisis in some 70 years, a top Federal Reserve policy maker said on Monday.

JAL to stay with American, end Delta talks: source

Mon, 08 Feb 2010 23:23:30 -0500

TOKYO (Reuters) - Japan Airlines Corp will keep its partnership with American Airlines in the Oneworld alliance due to concerns that forging ties with rival suitor Delta Air Lines would make it difficult to achieve a quick turnaround, a source with knowledge of the matter said.

Boeing's new 747 takes flight near Seattle

Mon, 08 Feb 2010 19:38:41 -0500

CHICAGO (Reuters) - Boeing Co flew its twice-delayed 747-8 Freighter for the first time on Monday, a significant milestone in the history of the legendary 747 family and a step that could bolster the credibility of the world's second-largest plane maker.

Electronic Arts outlook disappoints, shares decline

Mon, 08 Feb 2010 20:06:17 -0500

SAN FRANCISCO (Reuters) - Electronic Arts Inc warned that fiscal 2011 earnings would miss Wall Street expectations as it grapples with a lack of blockbuster new games after a succession of missed targets and restructurings.