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| Boeing says talks with SPEEA union will resume Wednesday Friday, Feb 22, 2013 07:38 PM PST  SEATTLE (Reuters) - Boeing Co and its engineering union have agreed to resume talks on Wednesday to replace an expired contract for 7,500 technical workers, another step toward settling negotiations that have continued for nearly a year. Boeing said it had agreed to resume the talks with the Society of Professional Engineering Employees in Aerospace (SPEEA) under the auspices of the Federal Mediation and Conciliation Service, which has been involved in the talks since December. The union also said it had sought talks next week. ... Full Story | Top |
| Investors face another Washington deadline Friday, Feb 22, 2013 06:35 PM PST  NEW YORK (Reuters) - Investors face another Washington-imposed deadline on government spending cuts next week, but it's not generating the same level of fear as two months ago when the "fiscal cliff" loomed large. Investors in sectors most likely to be affected by the cuts, like defense, seem untroubled that the budget talks could send stocks tumbling. Talks on the U.S. budget crisis began again this week leading up to the March 1 deadline for the so-called sequestration when $85 billion in automatic federal spending cuts are scheduled to take effect. ... Full Story | Top |
| LivingSocial investors take "pound of flesh" in financing Friday, Feb 22, 2013 06:20 PM PST  SAN FRANCISCO (Reuters) - LivingSocial was forced to make large concessions to persuade some of its biggest investors to plow another $110 million into the second-largest daily-deal company, analysts and investors said on Friday. Analysts say those investors secured advantageous terms potentially at the expense of LivingSocial's other backers. The nature of those terms shed new light on an investment that Chief Executive Tim O'Shaughnessy declared on Wednesday "a tremendous vote of confidence in our business. ... Full Story | Top |
| Einhorn scores legal victory versus Apple in cash scuffle Friday, Feb 22, 2013 06:08 PM PST  NEW YORK (Reuters) - A U.S. judge handed outspoken hedge fund manager David Einhorn a victory in his battle with Apple Inc on Friday, blocking the iPhone maker from moving forward with a shareholder vote on a controversial proposal to limit the company's ability to issue preferred stock. U.S. District Judge Richard Sullivan in Manhattan granted a motion by Einhorn's Greenlight Capital for a preliminary injunction stopping a vote on that proposal, scheduled for the company's February 27 stockholders' meeting. ... Full Story | Top |
| Boeing proposes full 787 battery fix to FAA: sources Friday, Feb 22, 2013 06:02 PM PST  WASHINGTON/SEATTLE (Reuters) - Boeing Co on Friday gave U.S. aviation regulators its plan to fix the volatile battery aboard its new 787 Dreamliner, even though investigators have not yet determined what caused the batteries to overheat on two planes last month. Boeing did not propose abandoning the lithium-ion batteries and is not working on a backup or longer-term fix for the problem that has grounded its entire fleet of 50 Dreamliners for nearly five weeks, three sources familiar with the plan said. The company and the U.S. ... Full Story | Top |
| Moody's strips Britain of triple-A rating in major blow to Osborne Friday, Feb 22, 2013 05:32 PM PST  LONDON/NEW YORK (Reuters) - Britain suffered its first ever sovereign ratings downgrade from a major agency on Friday when Moody's stripped the country of its coveted top-notch triple-A rating, dealing a major blow to finance minister George Osborne. Moody's said weak prospects for British economic growth, which have thrown the government's deficit reduction strategy off course, lay behind its decision to cut the rating by one notch to Aa1 from Aaa. ... Full Story | Top |
| New York Times received bid of over $100 million for Boston Globe: WSJ Friday, Feb 22, 2013 05:15 PM PST  (Reuters) - The New York Times Co last month received a formal bid that valued its Boston Globe subsidiary at more than $100 million, with about a third of the value from buyers assuming some of the newspapers's pension liabilities, the Wall Street Journal said, citing people familiar with the matter. The Times has been in quiet talks for the past year with the potential buyer group, which included former Boston Globe President Rick Daniels and managing director Heberden Ryan of private equity firm Boston Post Partners, the report said on Friday, citing the same sources. ... Full Story | Top |
| ADB'S Kuroda leading candidate to be next BOJ governor: Asahi Friday, Feb 22, 2013 04:58 PM PST  TOKYO (Reuters) - Asian Development Bank President Haruhiko Kuroda is the leading candidate to be the government's nominee for the Bank of Japan governorship, the Asahi newspaper reported, which would signal a shift toward more aggressive monetary easing. Prime Minister Shinzo Abe will make a final decision soon, in consultation with Finance Minister Taro Aso, and submit the government's nominee for parliamentary approval next week, the paper said on Saturday. ... Full Story | Top |
| Japan PM to work on BOJ head nomination next week Friday, Feb 22, 2013 04:06 PM PST  WASHINGTON (Reuters) - Japanese Prime Minister Shinzo Abe said on Friday he plans next week to seek the backing of a junior coalition partner, the New Komeito party, and opposition parties over the nomination of a new Bank of Japan governor. "I'll be back in Japan on Sunday. From around Monday, I want to make headway on new governor and deputy governors," Abe told a news conference in Washington. "Next week, I would like to ask for help from opposition parties, notify candidates ... and work to win endorsement from New Komeito," he said. Abe did not say who he had in mind for the nomination. ... Full Story | Top |
| U.S., Japan agree on approach to Trans-Pacific Partnership talks Friday, Feb 22, 2013 03:59 PM PST  WASHINGTON (Reuters) - The United States and Japan on Friday agreed on language aimed at giving Japanese Prime Minister Shinzo Abe political cover to bring the world's third-largest economy into negotiations on a U.S.-led free trade agreement in the Asia Pacific region. In a carefully worded statement following Abe's meeting with President Barack Obama, the two countries reaffirmed that "all goods would subject to negotiation" if Japan joins the talks with the United States and 10 other countries. ... Full Story | Top |
| Boeing encouraged by meeting with FAA on 787 grounding Friday, Feb 22, 2013 03:54 PM PST WASHINGTON (Reuters) - Boeing Co said its top commercial airplane official held a productive meeting on Friday with the head of the U.S. Federal Aviation Administration, and it was encouraged by progress being made toward returning the fleet of 50 787s to flight. Boeing released a statement after the meeting between Ray Conner, president of Boeing Commercial Airplanes, and FAA Administrator Michael Huerta, but gave no details about its proposal to avert the battery issues that grounded the world's newest airliner, the 787 Dreamliner. ... Full Story | Top |
| FAA won't return 787 to flight until battery risks addressed Friday, Feb 22, 2013 03:54 PM PST WASHINGTON (Reuters) - The Federal Aviation Administration on Friday said it was reviewing a proposal by Boeing Co aimed at returning the 787 Dreamliner to flight, but said it would not allow that to happen until it was confident that risks with the airplane's batteries had been addressed. Deputy Transportation Secretary John Porcari, FAA Administrator Michael Huerta and other FAA officials met with senior Boeing executives earlier Friday to discuss the status of ongoing work to address 787 battery issues, said FAA spokeswoman Laura Brown. ... Full Story | Top |
| Moody's strips UK of coveted triple-A debt rating Friday, Feb 22, 2013 03:45 PM PST  NEW YORK/LONDON (Reuters) - Britain suffered its first ever sovereign ratings downgrade from a major agency on Friday, after Moody's stripped the country of its coveted top-notch triple-A rating, dealing a major blow to finance minister George Osborne. Moody's cut Britain's rating by one notch to Aa1 from Aaa, with a stable outlook, blaming weak prospects for Britain's economy over the coming years which have thrown the government's deficit reduction strategy off course. ... Full Story | Top |
| UK's Osborne says AAA downgrade is reminder of debt problems Friday, Feb 22, 2013 03:44 PM PST LONDON (Reuters) - British finance minister George Osborne vowed to press on with the government's economic plans on Friday after Moody's Investors Service cut Britain's credit rating to AA1 from AAA. "Tonight we have a stark reminder of the debt problems facing our country - and the clearest possible warning to anyone who thinks we can run away from dealing with those problems," Osborne said in a statement. "Far from weakening our resolve to deliver our economic recovery plan, this decision redoubles it." (Reporting by Michael Holden) Full Story | Top |
| Pentagon suspends F-35 flights due to engine blade crack Friday, Feb 22, 2013 03:33 PM PST  WASHINGTON (Reuters) - The Pentagon on Friday suspended the flights of all 51 F-35 fighter planes after a routine inspection revealed a crack on a turbine blade in the jet engine of an F-35 test aircraft in California. It was the second grounding of the warplane in two months and marked another setback for the $396 billion F-35 Joint Strike Fighter program, the Pentagon's biggest weapons program. The program has already been restructured three times in recent years and may face further cutbacks if Congress does not avert budget reductions due to take effect on March 1. ... Full Story | Top |
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