Business News

• Spain calls for new euro fiscal authority June 3, 2012
  MADRID (Reuters) - Spain, the latest combat zone in Europe's long-running debt wars, urged the euro zone to set up a new fiscal authority to manage the bloc's finances and send a clear signal to markets that the single currency project is irreversible. […]
• AOL urges shareholder approval of its board nominees June 3, 2012
  (Reuters) - AOL Inc, waging a proxy fight with activist hedge fund Starboard Value, said on Saturday its shareholders should approve all eight nominees for its board of directors after an advisory service recommended the approval of only six. […]
• Group seeking to buy EFG Hermes to appeal to regulator June 2, 2012
  CAIRO (Reuters) - Shareholders of Egyptian investment bank EFG-Hermes voted on Saturday against a group of investors seeking to buy the bank, but the investors will appeal to Egypt's regulator to suspend the decision, the group targeting the bank said. […]
• Thyssen gets interest for Brazil, U.S. plants: report June 2, 2012
  FRANKFURT (Reuters) - ThyssenKrupp has attracted interest from Brazil's Vale and South Korea's Posco for its struggling steel plants in Brazil and the United States, German weekly WirtschaftsWoche reported. […]
• Wall Street Week Ahead: Time for some more stimulus? June 2, 2012
  NEW YORK (Reuters) - Things are shaping up for another hot summer on Wall Street, and there is a long, long way to go yet. […]
• Scania CEO sees Europe truck market shrinking 10 percent June 2, 2012
  STOCKHOLM (Reuters) - Scania Chief Executive Leif Ostling, who will leave the position to join the board of majority-owner Volkswagen , told Reuters on Saturday he expects the European truck market to shrink by about 10 percent this year. […]
• VW overhauls management to expand in China June 2, 2012
  STUTTGART/BERLIN (Reuters) - Volkswagen elevated China's status within its sprawling empire and reasserted control over its wayward trucks brands with an extensive overhaul of senior management on Saturday as it bids for global market dominance. […]
• American Airlines, flight attendants fail to cut costs June 2, 2012
  (Reuters) - American Airlines failed to agree on cost-cutting measures with its flight attendants' union, setting the stage for a judge to rule on voiding the contract for the bankrupt carrier, a subsidiary of AMR Corp, the union said in a statement late on Friday. […]
• Greco elected after Generali coup ousts Perissinotto June 2, 2012
  MILAN (Reuters) - Europe's third-largest insurer Generali said it named Mario Greco, a top executive at Zurich Insurance Group , as its new CEO on Saturday, after Giovanni Perissinotto was ousted in a rapid boardroom coup. […]
• "Big Four" to audit Spain's banking sector June 2, 2012
  MADRID (Reuters) - Spain has picked the "Big Four" accounting firms KPMG , PwC , Deloitte and Ernst & Young to carry a full, individual audit of its ailing banks, a source with knowledge of the decision told Reuters on Saturday. […]