BUSINESS

EADS to cut bonuses, not jobs after A400M: exec Posted 21 minutes ago

HELSINKI (Reuters) - Top executives at aerospace group EADS <EAD.PA> will see their bonuses hit after the cost debacle surrounding the delayed A400M military transport aircraft, but staff will mostly be spared, its top personnel executive said on Thursday. Airbus parent EADS last week announced 1.8 billion euros ($2 ...More

Exxon Mobil boosts 2010 spending 4 percent Posted 26 minutes ago

NEW YORK (Reuters) - Exxon Mobil Corp <XOM.N> will increase its capital spending nearly 4 percent this year to $28 billion as it evaluates new fields around the world, but it cautioned that the global economy remained unsteady. Exxon, the world's largest publicly traded oil company, also said it ...More

Simon CEO: General Growth rival plan is uncertain Posted 44 minutes ago

NEW YORK (Reuters) - The chief executive of Simon Property Group Inc <SPG.N> on Thursday said a plan by management of General Growth Properties Inc <GGP.N> to emerge from bankruptcy lacks certainty despite new financial backing. Simon, the largest U.S. mall owner, last month offered to buy General ...More

Jan trade gap narrows unexpectedly due to oil Posted 1 hour, 36 minutes ago

WASHINGTON (Reuters) - The U.S. trade deficit narrowed unexpectedly in January as oil imports fell to their lowest since February 1999, a government report showed on Thursday. The trade gap shrank 6.6 percent to $37.3 billion, the Commerce Department said. U.S. exports declined, but not as much ...More

Jobless claims fall less than expected Posted 2 hours, 2 minutes ago

WASHINGTON (Reuters) - The number of U.S. workers filing new applications for unemployment benefits fell slightly less than expected last week, hinting at a slow labor market recovery. Initial claims for state unemployment benefits slipped 6,000 to a seasonally adjusted 462,000 from 468,000 the prior week, the ...More

Foreclosures drop for 2nd month in February: RealtyTrac Posted 3 hours, 13 minutes ago

NEW YORK (Reuters) - U.S. mortgage foreclosure filings dropped for a second straight month in February, and notched the smallest annual increase in four years as housing-rescue efforts contained activity, a report released on Thursday showed. Foreclosures are by far one of the biggest threats to the U.S. housing ...More

Airlines recovering strongly, still in red: IATA Posted 5 hours, 45 minutes ago

An aircraft flies past the moon over Anterselva

GENEVA (Reuters) - Airlines are recovering strongly from the crisis, as passengers, freight and pricing power return, the airline industry association IATA said on Thursday, halving its forecast for a 2010 loss. With capacity for both passengers and cargo hitting record levels at the end of last year, all indicators are ...More

EU defends hedge fund rules against U.S. critics Posted 6 hours, 33 minutes ago

By John O'Donnell BRUSSELS (Reuters) - The European Union hit back Thursday against U.S. criticism of plans to crack down on hedge funds, saying its push for openness in the industry met a commitment also given by Washington and others. U.S. Treasury Secretary Tim Geithner has complained to ...More

HSBC says Swiss data theft affects 24,000 accounts Posted 6 hours, 34 minutes ago

LONDON/GENEVA (Reuters) - HSBC <HSBA.L>, Europe's biggest bank, said a theft of data by a former employee affected up to 24,000 Swiss client accounts, dealing a hefty blow to the reputation of its private bank. Switzerland's financial regulator FINMA was investigating the theft, it said on ...More

EADS sees no financial hit from U.S. tanker loss Posted 7 hours, 25 minutes ago

PARIS (Reuters) - The apparent loss this week of a U.S. in-flight refueling tanker contract worth up to $50 billion will not affect EADS's <EAD.PA> finances, the European aerospace group's chief executive said on Thursday. On Monday EADS's U.S. partner Northrop Grumman <NOC.N> dropped ...More

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