China and India both reported higher-than-expected inflation readings on Friday, giving fresh ammunition to central bankers and investors alike who are worried about mounting price pressures in the global economy. Get the full story »
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U.S. to ‘protect interests’ in WTO Boeing ruling
By Julie Johnsson and Kathy Bergen | The Obama Administration is open to negotiating a settlement to a long, costly trade dispute with the European Union over illegal government subsidies to planemakers Boeing Co. and Airbus SAS, U.S. Trade Representative Ron Kirk told reporters Thursday.
But Kirk said the Americans won’t return to the table unless the Europeans agree to stop providing launch aid to Airbus’s aircraft development programs, such as the Airbus A350-XWB, Airbus’s response to Boeing’s 787 Dreamliner. Get the full story »
Caterpillar responds to EU review of MWM deal
From Bloomberg News | Peoria-based Caterpillar Inc., the world’s largest maker of construction and mining equipment, offered remedies to European Union regulators examining its plan to buy MWM Holding GmbH.
McDonald’s franchisee IPO raises 43% more
Arcos Dorados Holdings, a large South American franchisee of U.S. fast-food chain McDonald’s sold more shares than originally planned at a price above the proposed range in an IPO on Wednesday, a source familiar with the deal said. Get the full story »
Motorola, Huawei settle patent suit
Motorola Solutions Inc. and Huawei Technologies Co. said Wednesday they have agreed to settle all pending litigation between the companies. Get the full story »
McDonald’s franchisee could see $1B IPO
McDonald Corp.’s biggest franchisee, Argentina-based Arcos Dorados Holdings Inc., is expected to go public this week in an offering whose value could approach $1 billion, the latest sign that the market for initial public offerings is heating up. Get the full story »
IMF urges U.S. to move quicker to cut debt ratios
The International Monetary Fund Tuesday urged the United States to outline credible measures to reduce its budget deficit, pressuring the White House to detail plans to ratchet down record debt levels. Get the full story »
Inflation, oil prices risks to global economy: IMF
Soaring oil prices and inflation in emerging economies pose new risks to global recovery but are not yet strong enough to derail it, the International Monetary Fund said on Monday. Get the full story »
Caterpillar to build transmissions in China venture
Caterpillar Inc. said Friday it agreed to form a joint venture with a Chinese transmission manufacturer that will build drivetrain systems and other components for Caterpillar machinery and produce a line of automatic transmissions for highway travel. Get the full story »
McDonald’s Japanese sales fall 7.3% after quake
The Japanese unit of McDonald’s Corp. said Friday that same store sales in March declined 7.3 percent on year, falling short of year-earlier levels for the first time in four months due to the massive earthquake and tsunami that struck northeast Japan. Get the full story »
Disney begins work on Shanghai theme park
Dancers perform during the groundbreaking ceremony of Shanghai Disneyland. (Ally Song/Reuters)
Walt Disney Co. Chief Executive Robert A. Iger was joined by Shanghai’s Communist Party chief and the city’s mayor Friday to officially commence construction of a long-awaited theme park that will give the Burbank company a critical beachhead in mainland China.
In a carefully staged groundbreaking ceremony interspersed with singing and dancing, Iger said the new park would feature a blend of East and West and underscored the importance of the $3.7-billion project for Disney. Get the full story »
Oil prices ‘great concern’ for economy: Chu
Energy Secretary Steven Chu said on Thursday high oil prices posed a threat to the global economy. “The oil producer countries and the oil consuming countries are concerned because it does have an impact on a very fragile economic recovery. There is great concern,” Chu told a news conference while attending a clean energy conference. Get the full story »
Oil tops $110 after latest Japan quake
Oil prices jumped above $110 a barrel after Japan was hit with another major earthquake. April oil futures rose $1.32, or 1.3 percent, to $110.15 a barrel. Prices had jumped as high as $110.44 – a level not seen since September 2008. Get the full story »
United, Continental cutting capacity to Japan
United and Continental airlines are reducing flights between the U.S. and Japan because of a drop in demand since the March 11 earthquake and tsunami. Get the full story »
Boeing received banned U.S. subsidies: WTO
Guests exit a Boeing 787 Dreamliner aircraft at the Farnborough Airshow, Hampshire, July 18, 2010. (Ben Stansall/AFP/Getty Images)
Boeing Co. benefited from $5.3 billion in prohibited state and federal government subsidies, a panel of World Trade Organization judges determined in a report issued Thursday.
But the total amount that will need to be remedied by the U.S. in the trade case is about half that: $2.7 billion, since the U.S. government has already stopped providing Chicago-based Boeing billions of dollars in export-related tax breaks judged to be illegal by the WTO, U.S. officials said. Get the full story »
