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Updated: 2 hours 49 min ago
Accor ousts CEO to speed up strategy
PARIS (Reuters) - Accor SA ousted Chairman and Chief Executive Denis Hennequin on Tuesday and put a transition team in charge of Europe's largest hotel group amid a disagreement over the pace of change.
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Iceland bank debt writedown inevitable, likely next PM says
REYKJAVIK (Reuters) - Iceland's recovery from economic collapse is much weaker than the government proclaims, and a major debt writedown will be needed before crippling currency controls can be lifted, the country's likely next leaders told Reuters on Tuesday.
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Colombia's Sura, Scotiabank buy BBVA Peru fund for $1 billion
LIMA/BOGOTA (Reuters) - Colombian financial group Sura and Canada's Bank of Nova Scotia bought the Peruvian pension fund BBVA Horizonte on Tuesday for more than $1 billion (655.78 million pounds), as competition heats up in the surging sector.
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Accor ousts CEO over pace of strategy shift
PARIS (Reuters) - Accor's board ousted Chief Executive Denis Hennequin on Tuesday in a disagreement over the pace of change of strategy at Europe's largest hotel group.
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U.S. appeals court expedites BP spill claims case
NEW ORLEANS (Reuters) - A federal appeals court has agreed to speed up the process of determining whether BP Plc's settlement with class-action plaintiffs over the 2010 Gulf of Mexico oil spill is being handled properly.
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HSBC to shed 1,149 UK jobs in new round of cutbacks
LONDON (Reuters) - HSBC is cutting 1,149 jobs in Britain in another round of redundancies to save money and slim down Europe's biggest bank.
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Delta, US Air profits top estimates
(Reuters) - Delta Air Lines and US Airways Group posted higher-than-expected first quarter earnings on Tuesday driven by revenue gains and their shares rose despite cautions by both carriers about near-term weakness.
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Investment firm seeks $8 billion in legal fight with Deutsche Bank
LONDON (Reuters) - A legal battle between Deutsche Bank and billionaire investor Alexander Vik began this week in which Vik is claiming $8 billion (5.2 billion pounds) in damages over trades by his company Sebastian Holdings during the financial crisis.
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Lockheed profit beats view; budget cuts hit sales outlook
WASHINGTON (Reuters) - Lockheed Martin Corp , the Pentagon's biggest weapons supplier, reported a better-than-expected 14.8 percent rise in per-share earnings on Tuesday but warned full-year revenue was likely to come in at the low end of earlier guidance due to U.S. budget cuts.
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Chesapeake, Bank of New York, square off in bond trial
NEW YORK (Reuters) - Chesapeake Energy Corp began an expedited trial on Tuesday against Bank of New York Mellon Corp over the energy company's effort to redeem $1.3 billion (852 million pounds) of notes at par.
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UK to extend flagship credit scheme to boost lending
LONDON (Reuters) - Britain will announce a shake-up of its Funding for Lending Scheme on Wednesday in the hope of getting more credit flowing to small and medium-sized firms and kick-starting an economy struggling to show any growth.
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Fiat near to securing finance for Chrysler buyout - sources
FRANKFURT (Reuters) - Italian carmaker Fiat could secure financing by May for a possible buyout of the rest of Chrysler, two people familiar with the matter said on Tuesday.
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Bank of Ireland loses 30 million-pound UK tax case
LONDON (Reuters) - A British tax tribunal has rejected an attempt by Bank of Ireland (BoI) to avoid 30 million pounds in corporation tax by transferring a financial contract between subsidiaries, the UK tax authority said on Tuesday.
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Xerox focuses on services as printer business declines
(Reuters) - Printer and copier maker Xerox Corp forecast current-quarter earnings below estimates as it accelerates efforts to transform itself into a technology services provider.
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Finmeccanica posts $1 billion loss in 2012 on DRS writedown
MILAN/ROME (Reuters) - Finmeccanica reported on Tuesday a 786 million euro (669.7 billion pounds) net loss in 2012 mainly because of a goodwill writedown on its U.S. defence electronics unit DRS.
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FTSE posts biggest gain since January on earnings, ECB rate cut talk
LONDON (Reuters) - The FTSE 100 index jumped 2 percent on Tuesday on strong earnings reports and after weak German data fuelled expectations for a rate cut in the euro zone, the UK's main export market.
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Analysis - Caterpillar cries "uncle" on mining; investors cry "buy"
CHICAGO (Reuters) - An odd thing happened on Monday when Caterpillar Inc , the world's largest maker of earth-moving equipment, posted disappointing profits and cut its full-year forecast, blaming weakness in the mining industry it bet on so heavily in recent years.
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Netflix adds 2 million U.S. streaming customers, shares jump 24 percent
(Reuters) - Netflix Inc reported on Monday a first-quarter profit that beat Wall Street expectations as the dominant video rental service added 2 million new U.S. streaming subscribers, and its shares soared 24 percent.
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U.S. trade panel says Apple did not violate Google patent
WASHINGTON (Reuters) - Apple Inc scored a win on Monday when the U.S. International Trade Commission ruled that it did not violate a Google patent to make the popular iPhones.
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EU's Barnier warns U.S. over "radical" new bank rule
WASHINGTON (Reuters) - A U.S. plan to force foreign banks to hold far more capital could sow discord among supervisors and lead to retaliation from abroad, European Union financial services czar Michel Barnier said on Monday.
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