The U.S. trade deficit narrowed much more than expected in October, as exports rose a robust 3.2 percent and imports declined slightly in the face of slackening demand for industrial and petroleum products, a Commerce Department report showed on Friday. Get the full story »
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Dec. 10, 2010 at 10:25 a.m.
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Filed under: Economy, Government, International, Trade, Updated U.S. trade gap narrows in October
Unilever approved to buy Sara Lee Kenya unit
Kenya granted Anglo-Dutch consumer goods group Unilever approval to buy Sara Lee’s subsidiary in the east African nation, a government notice showed on Friday. Get the full story »
Fed: Foreign central banks’ U.S. debt holdings fall
Foreign central banks’ overall holdings of marketable securities at the Federal Reserve fell in the latest week, data from the U.S. central bank showed on Thursday. Get the full story »
Unilever bid for Alberto Culver could be reviewed
From Bloomberg | Unilever’s $3.7 billion takeover of Melrose Park-based Alberto Culver Co. may be reviewed by U.K. antitrust regulators, who said in a statement that they are looking at whether the deal could trigger “a relevant merger situation” and whether it was likely to reduce competition.
Aon to bid $86 million for South Africa’s Glenrand
Aon Corp. will bid as much as $86 million to buy South African insurance firm Glenrand MIB Ltd., giving the world’s largest insurance broker a bigger presence in Africa’s top economy. Get the full story »
Equity Intl. CEO: Brazil demand outweighs fears
Brazil might be an exception to the rule of thumb that says avoid the asset everyone’s piling into, according to the chief executive of Equity International, the international arm of real estate mogul Sam Zell. Get the full story »
Americans say China’s economy is No. 1
Only one in five Americans believe that the U.S. has the world’s strongest economy, while 47 percent believe that China deserves that honor, according to a new poll released Wednesday by Northbrook-based Allstate Corp. and the National Journal.
It’s the first time that the Allstate-National Journal Heartland Monitor Poll has posed the question.
The survey also found that 67 percent of Americans believe that their financial situation will get worse or remain the same in 2011, rather than improve. Get the full story »
Yum Brands: China to be top profit driver this year
Yum Brands said China would surpass the United States as the fast-food restaurant operator’s top profit generator this year, and the Chinese market’s potential is still largely untapped.
Yum has more than 3,700 restaurants in China, mostly KFC outlets, and has a big lead over Western rivals like McDonald’s in the world’s fastest-growing major economy. Get the full story »
Corn Products to invest $75M to $100M in Brazil
Corn Products International Inc., which refines corn for use in food and industrial products, said Tuesday it plans to invest $75 million to $100 million over the next several years in its Brazilian business. Get the full story »
Sara Lee sells rest of body care brands to Unilever
Sara Lee Corp. has completed the $1.6 billion sale of its body care and European detergent segments to Unilever NV, the food company said Monday. Get the full story »
Mapping firm Navteq opens R&D lab in Mumbai
Chicago-based digital mapping company Navteq has opened a new research and development center in Mumbai, India.
The Mumbai center will employ 150 people and is located near another Navteq facility in the same city. The company’s other R&D centers are in the U.S., Germany, the United Kingdom, Korea, Bosnia and Slovakia. Get the full story »
Continental ordered to pay in Concorde crash
A French court has ordered Continental Airlines Inc. to pay Air France SA more than $1.3 million in damages over the crash of a supersonic Concorde jet outside Paris a decade ago that killed 113 people. The court, in a lengthy verdict Monday, also found a Continental mechanic guilty of manslaughter.
The presiding judge confirmed that titanium debris dropped by a Continental DC-10 onto the runway at Charles de Gaulle airport before the Concorde took off was to blame for the crash. Investigators said debris gashed the Concorde’s tire, propelling bits of rubber into the fuel tanks and sparking a fire.
U.S.-South Korea trade pact nears with tariff deal
South Korea has agreed to give the United States five years to phase out a 2.5 percent tariff on Korean-built cars, rather than cut the tariff immediately, clearing the way for a deal on a stalled U.S.-South Korea trade pact, the Wall Street Journal reported on Friday.
Spain OKs new austerity measures to calm markets
Spain's Finance Minister Elena Salgado speaks on the country's new austerity measures. (AP/Victor Caivano)
The Spanish government has approved a package of new austerity measures and economic stimulus that it hopes will ease investor fears about its debt.
The moves include selling off nearly third of its national lottery, partially privatizing airports, cutting a jobless benefit and trimming taxes for small companies.
The measures were agreed to at a weekly cabinet meeting Friday. Get the full story »
Jet suppliers cite potential gain from Airbus move
Aircraft suppliers Rockwell Collins and Goodrich said on Thursday they could gain new business as a result of this week’s announcement that EADS unit Airbus would upgrade its A320 plane with better engines that offer 15 percent fuel savings.
Airbus, the world’s largest plane maker, said it would spend roughly $1.3 billion to improve efficiency of the narrowbody aircraft. Its main rival Boeing is also mulling whether to upgrade its competing 737 plane. Get the full story »
