phoenix NewsRoom: Business & Finance

Fed's Lockhart says world will feel U.S. slowdown

phoenix — Sat, 17 May 2008 13:52:04 GMT

WASHINGTON (Reuters) - U.S. exports have been helped by a weaker dollar and this is providing a boost to an otherwise weak economy, Federal Reserve Bank of Atlanta President Dennis Lockhart said on Saturday.

AIG to set up services, data centers in Malaysia

phoenix — Sat, 17 May 2008 13:08:04 GMT

KUALA LUMPUR (Reuters) - American International Group Inc plans to establish a global shared services and data centers in Malaysia through one of its subsidiaries, the insurance giant said on Saturday.

American Axle and UAW reach tentative agreement

phoenix — Sat, 17 May 2008 06:30:05 GMT

DETROIT (Reuters) - The United Auto Workers and American Axle & Manufacturing Holdings Inc reached a tentative contract agreement late Friday aimed at ending an 11-week-long strike that had triggered thousands of layoffs and cost General Motors Corp at least $1 billion.

EADS to roll out A400M on June 26

phoenix — Sat, 17 May 2008 17:52:04 GMT

PARIS (Reuters) - European aerospace group EADS plans to roll out the A400M heavy airlifter for its first public viewing on June 26, the company said on Saturday.

Cathay Pacific mulls route cuts on high fuel: paper

phoenix — Sat, 17 May 2008 05:52:04 GMT

HONG KONG (Reuters) - Cathay Pacific Airway Ltd <0293.HK>, Hong Kong's dominant airline, is considering cutting its money-losing routes amid soaring fuel prices, South China Morning Post said on Saturday, citing the airline's chief executive as warning in an internal newsletter.

Motorola's chief strategy officer quits

phoenix — Sat, 17 May 2008 01:08:05 GMT

NEW YORK (Reuters) - Rich Nottenburg, Motorola Inc's chief strategy and technology officer, has become the latest senior staff member to exit since activist investor Carl Icahn strengthened his influence, a spokeswoman said on Friday.

Morgan Stanley cut 1,500 jobs this week: source

phoenix — Fri, 16 May 2008 22:52:04 GMT

NEW YORK (Reuters) - Morgan Stanley cut 1,500 jobs this week across its investment banking, trading and asset management businesses, a person familiar with the situation said Friday, a 5 percent reduction of non-broker employees.

Airport slot auctions proposed for Newark, JFK

phoenix — Fri, 16 May 2008 22:30:05 GMT

WASHINGTON (Reuters) - The U.S.government proposed on Friday to auction some takeoff and landing rights at the New York area's two international airports, as a way to boost competition, a plan that drew sharp criticism from airlines.