June 19, 2010 at 3:44 p.m.
Filed under:
China,
Construction,
International
By Reuters
Caterpillar Inc. , the U.S. machinery giant that sells billions of dollars of earth-moving equipment and other products to China each year, said on Saturday it was heartened by China’s move to gradually make the yuan more flexible, saying it would help lift U.S. exports.
“Caterpillar is encouraged by this development,” said Rich Lavin, a group president with the company who is responsible for emerging markets, “and we believe over time that a stronger Chinese currency will promote more exports from the U.S. to China.” Get the full story »
June 14, 2010 at 4:59 p.m.
Filed under:
International,
Stock activity
By Gail MarksJarvis | The stock market was back to its old tricks again today — trading up through most of the day, and then down again within minutes of the markets’ close. It wasn’t terrible. The Dow just lost 20 points in a day that saw commodities climb. And some analysts were claiming that the recent downturn has left bargains. But the old concerns were there — Europe and the euro.
June 11, 2010 at 11:35 a.m.
Filed under:
China,
International,
Manufacturing
Reuters | Caterpillar Inc and Navistar International Corp are finalising a 4
billion yuan ($586 million) truck and engine manufacturing tie-up with
China’s Jianghuai Automobile, a source with direct knowledge of the deal
said on Friday.
Initial investment in the project will be twice as much as the amount
previously disclosed — 2 billion yuan — as Jianghuai and Navistar are
also planning a separate 50-50 diesel engine tie, the source told
Reuters.
“There will actually be two joint ventures. The engine venture is meant
to be a supplier for the truck project,” said the source.
Get the full story »
June 11, 2010 at 6:33 a.m.
Filed under:
Autos,
Computers,
International,
Manufacturing
Reuters | Circuit protection products maker Littelfuse Inc.
raised its second-quarter outlook as electronics demand continued to
grow, but said third-quarter sales would be hit by $2 million to $3
million due to lower production at its Taiwan facility. Equipment
failure caused a fire in a limited area at its factory in Taiwan that
was brought under control, the company said.
Get the full story »
June 11, 2010 at 5:49 a.m.
Filed under:
Economy,
International
Associated Press | Japan could face a financial mess like the
one that has crippled Greece if it does not deal urgently with its
swelling national debt, the new prime minister warned Friday.
While Japan is on firmer financial footing than Greece because most of
its debt is held domestically, Prime Minister Naoto Kan’s blunt talk
appeared designed to push forward his agenda, which may involve raising
taxes.
Get the full story »
June 10, 2010 at 10:40 a.m.
Filed under:
International,
Pharmaceuticals
Reuters | Hospira Inc (HSP.N) has won European approval for a version of Amgen Inc.’s white-blood cell boosting drug Neupogen, as it makes more inroads in the fledgling market for generic biotechnology medicines.
Get the full story »
June 10, 2010 at 9:33 a.m.
Filed under:
China,
Economy,
International,
Policy
Reuters | U.S. Treasury Secretary Timothy Geithner said on Thursday that reform of China’s exchange rate is “critically important” to the U.S. and global economies, and that a more flexile yuan was in China’s interest.
Get the full story »
June 9, 2010 at 12:59 p.m.
Filed under:
Food,
International,
Trade
Reuters | U.S.-Sino trade relations got even stickier Wednesday
after a senator accused China of “honey laundering” — mislabeling its
honey to avoid U.S. anti-dumping duties.
Senator Charles Schumer told the U.S.-China Economic and Security
Review Commission, a watchdog panel created by Congress, that China was
avoiding U.S. anti-dumping laws imposed years ago by shipping honey
through countries such as Indonesia and Malaysia.
Get the full story »
June 4, 2010 at 6:13 a.m.
Filed under:
Airlines,
Design,
International
Reuters | U.S. aircraft and defense firm Boeing said on Friday
it expects to boost its international sales to compensate for a
slowdown in its home market as the U.S. government tries to rein in
defense spending.
Dennis Muilenburg, President and CEO of Boeing Defense, Space and
Security, told reporters in Singapore that international sales would
grow to 20-25 percent of total revenue in the next five years from 16
percent in 2009.
Get the full story »
June 3, 2010 at 8:40 a.m.
Filed under:
Chicago executives,
International,
Law firms
By Ameet Sachdev | A
Brazilian will become the new chairman of Baker & McKenzie, the
Chicago-based law firm that is one of the largest in the world. The
firm said Thursday that Eduardo Leite was elected head of the firm’s
executive committee, which is its primary management team. He will
succeed John Conroy on Oct. 30.
Get the full story »
June 1, 2010 at 7:56 a.m.
Filed under:
Insurance,
International,
M&A
By Ameet Sachdev | Two Chicago area insurance brokers have expanded into new markets through acquisitions. Arthur J. Gallagher & Co. of Itasca said Tuesday that it purchased
London-based Risk & Reward, its first acquisition of a
employee-benefits consulting firm in the United Kingdom. Terms of the
transaction were not disclosed.
Chicago-based Hub International Ltd., a Gallagher rival, acquired Risk
Transfer Insurance Alliance LLC, based in Southborough, Mass. RTIA,
which has annual revenues of about $3 million, focuses on healthcare
industry clients. Terms of the deal were not disclosed.
Get the full story »
June 1, 2010 at 6:18 a.m.
Filed under:
International,
Stock activity
Associated Press | Major U.S. indexes are set to resume their
slide due to fresh concerns about the health of Europe’s economic
recovery. Stocks fell late Friday ahead of the long holiday weekend
after Fitch Ratings cut its view on Spain’s debt. A slowdown in
manufacturing in China is also worrying investors.
The Dow Jones industrial average fell 122 points Friday. Dow futures are down another 114 points early Monday.
Get the full story »
June 1, 2010 at 6:06 a.m.
Filed under:
Airlines,
International
Reuters | U.S. aircraft maker Boeing has won an order from a
Russian state company for up to 65 planes, nearly half its net order
for 2009, beating European rival Airbus and a Russian manufacturer.
Get the full story »
June 1, 2010 at 5:59 a.m.
Filed under:
Insurance,
International,
M&A
Associated Press | Bailed-out U.S. insurer AIG said Tuesday it
won’t accept a lower offer for its Asian insurance business from
Prudential, which proposed a $5 billion cut to calm rebellious
shareholders who thought the price was too high.
London Stock Exchange-listed Prudential PLC initially agreed to pay
$35.5 billion for AIA, the Asian insurance business of American
International Group Inc. Faced with the growing possibility that it
could not win 75 percent backing from shareholders, Prudential lowered
the offer to $30.375 billion.
Get the full story »
June 1, 2010 at 5:44 a.m.
Filed under:
International,
M&A
Reuters | European Union regulators extended their probe of Unilever’s bid for
Sara Lee Corp’s body care business after the Anglo-Dutch company
declined to offer concessions to address competition concerns. The
European Commission, the EU competition watchdog, said on Tuesday that
it would decide by Oct. 5 whether to clear or block the $1.3 billion
deal. Its previous deadline was May 31.
Get the full story »
