Source Match Industrial News
Wall Street falters in volatile session on Fed worries
By Angela Moon NEW YORK (Reuters) - Stocks fell on Wednesday
with the S&P 500 posting its biggest decline in three weeks,
after minutes from the latest U.S. Federal Reserve meeting showed
some officials were open to tapering large-scale asset purchases as
early as at the June meeting. Trading was volatile - the Dow and
the S&P indexes both rose more than 1 percent during the
morning, but fell more than 1 percent in the afternoon. ...
HP profit down 32 percent, shares up as results beat estimates
SAN FRANCISCO (Reuters) - Hewlett-Packard Co's quarterly profit
slid 32 percent but the world's largest personal computer maker
raised the lower end of its full-year outlook after earnings per
share beat forecasts, sending its stock 10 percent higher. Net
income fell to $1.08 billion, or 55 cents a share, from $1.59
billion, or 80 cents a share, a year earlier. The company earned 87
cents per share on an operating basis during the second quarter on
revenue of $27.6 billion. ...
Starbucks veteran Michelle Gass leaving for Kohl's
(Reuters) - Starbucks Corp executive Michelle Gass, who was
instrumental in the world's biggest coffee chain's post-recession
U.S. turnaround, is leaving after more than 16 years to become
chief customer officer at retailer Kohl's Corp . Gass, known for
having led many big initiatives at Starbucks, including the
development of Frappuccino blended drinks, will join Kohl's in the
newly created position on June 17, the low-price department store
said on Wednesday. ...
Electric carmaker Tesla pays off U.S. loan
DETROIT (Reuters) - Electric carmaker Tesla Motors Inc on
Wednesday said it has paid off its U.S. Department of Energy loan,
using money raised last week in a stock and notes offering. The
automaker said it wired $451.8 million to repay the full loan with
interest. "I would like to thank the Department of Energy and the
members of Congress and their staffs that worked hard to create the
(Advanced Technology Vehicle Manufacturing) program, and
particularly the American taxpayer from whom these funds
originate," Tesla Chief Executive Elon Musk said in a statement. "I
hope we did you proud. ...
Tesla uses stock, note sale to repay government
HP's slumps deepens in 2Q as earnings fall 32 pct
Bernanke says more progress needed before stimulus pullback
By Pedro da Costa and Alister Bull WASHINGTON (Reuters) - The
Federal Reserve's monetary stimulus is helping the economy recover
but the central bank needs to see further signs of traction before
taking its foot off the gas, Fed Chairman Ben Bernanke said on
Wednesday. A decision to scale back the $85 billion in bonds the
Fed is buying each month could come at one of the central bank's
"next few meetings" if the economy looked set to maintain momentum,
Bernanke told Congress. But minutes from the Fed's most recent
meeting released on Wednesday showed the bar was still relatively
high. ...
Bob Lutz, Chinese parts maker offer $20 million for Fisker: sources
DETROIT (Reuters) - China's largest auto parts maker and a
boutique car company led by former General Motors Co executive Bob
Lutz have offered $20 million to buy "green" carmaker Fisker
Automotive, people familiar with the matter said on Wednesday.
Wanxiang and VL Automotive are looking to buy Fisker, which has not
built a car since July, through a prepackaged bankruptcy deal. A
separate team of investors is looking to buy out the U.S.
Department of Energy's position in Fisker. A spokesman for VL
Automotive declined to comment. Pin Ni, president of Wanxiang's
U.S. ...
PepsiCo rethinks U.S. pricing to attract more everyday buyers
(Reuters) - PepsiCo Inc said it is tweaking its drink-pricing
strategy in some parts of the United States, as it aims to wean
consumers off the habit of buying soda only when it is on sale. The
strategy, which PepsiCo refers to as "hybrid everyday value,"
involves narrowing the gap between soda prices on holidays and
regular days. It aims to lessen the discounts on holidays, when a
12-pack of 12-ounce cans can cost as little as $2.50 to $3, and
lower prices throughout the rest of the year, when the same package
can cost as much as $5.99. ...
Europe targets Switzerland in fight against bank secrecy
By John O'Donnell and Martin Santa BRUSSELS (Reuters) - Europe
edged closer to lifting banking secrecy on Wednesday after Austria
said it was ready to share data on foreign depositors but Vienna's
support could fade should efforts to strike a similar deal with
Switzerland fail. Austria's dropping of objections allowed EU
leaders to commit to an exchange of bank information between
countries by the end of the year, as cash-strapped states seek to
stop tax evasion and close loopholes highlighted by Apple Inc's use
of a base in Ireland. ...
Oil falls near $94 on small drop in supplies
Fiat Industrial aims to shift tax home to Britain
Delta Airlines wants to stop Ex-Im help on big jets
By Alwyn Scott (Reuters) - Delta Air Lines Inc wants the U.S.
Export-Import Bank to stop helping state-owned foreign airlines buy
wide-body jets from Boeing Co , and would be willing to forgo such
support for its own purchases if all such subsidies were
eliminated, its chief executive said on Wednesday. "We would be
perfectly willing, if we had a total moratorium on narrow-body and
wide-body financing, to forego" export credit help on narrow-body
jet purchases from Bombardier , Delta CEO Richard Anderson said in
an interview with Reuters. ...
Fed weighed slowing its pace of bond purchases
Home sales close in on three-and-a-half year high
By Lucia Mutikani WASHINGTON (Reuters) - Home resales rose in
April to the highest level in nearly 3-1/2 years and prices surged,
offering the economy a buffer from the stiff headwinds posed by
belt-tightening by Washington. The National Association of Realtors
said on Wednesday existing home sales advanced 0.6 percent to an
annual rate of 4.97 million units, the highest level since November
2009. The data underscored the housing market's improving fortunes
as it starts to regain its lost glory. Resales were 9.7 percent
higher than the same period last year. ...
Innodisk Releases World's First Industrial-Embedded SATA uSSD - nanoSSD
Cheesecake Factory sets opening date at Twelve Oaks
Research and Markets: Industrial Diamond Market Review 2013
Could Science Hatch the Perfect Fake Egg?
First UL Listed Industrial GFCI from Littelfuse Protects Workers
Solar industry pushes for more use in Ga.
H&M Says Garments Made in Cambodian Factory Without Approval
Industry's First 802.11ac 4x4 Reference Design Specifies ANADIGICS' WiFi FEICs
Summit Industrial Income REIT Announces Strong Growth in First Quarter 2013
Russia April Industrial Output Slowed Less Than Forecast
Culver Company to Address Industry Safety Practices at the Utility Public Safety Alliance
Fiat Industrial considers making tax home in UK
Factory setting example to employ women in farm sector
Genomics Reveals Great Famine Culprit
Fiat Industrial plans U.K. HQ for tax reasons
Fiat Industrial seeks UK residence to cut tax bill
News Summary: GM invests $44.5M in Lansing factory
Government plans policy sweeteners for insurance industry
Scale Computing Adds Industry Veteran Vanessa Alvarez
GM to invest $44.5M in Lansing Cadillac factory