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CIT Group reports profit
Commercial lender reports second quarterly profit since emerging from bankruptcy protection and says it plans to restructure some high-cost debt
US renewable energy industry in call for action
In spite of the Obama Administration’s pledge to create green jobs, the US renewable energy industry said it had stalled in the absence of strong federal policy, low power demand and bureaucratic funding.
Lords take long hard look at Big Four
The Big Four accountants dominance of auditing is facing mounting international scrutiny after the UK’s House of Lords launched a review into the firms’ role in the financial crisis
Tomkins investors angry at bid deal
Tomkins shareholders have expressed anger at the price and management incentive package oin an agreed takeover bid from Canadian investors
GE pays $23m after Iraq probe
General Electric has agreed to pay $23.5m to settle allegations from US regulators that its subsidiaries bribed Iraqi officials to win contracts under the UN Oil for Food Programme between 2000 and 2003
Lockheed reports rise in profits
Lockheed Martin, the world’s largest defence contractor by revenues, reports second-quarter results that beat analysts’ earnings estimates but fall slightly short of forecasts for revenues
Google to power Yahoo Japan web search
Google is to power Yahoo Japan’s web search and advertising platform, in a snub to last year’s tie-up between Microsoft’s Bing search engine and Yahoo Inc, a minority shareholder in its Japanese namesake
Brussels to probe IBM mainframe market role
The US technology group is the latest company to come under attack from Europe’s top antitrust watchdog, which is opening two separate cases against it
FedEx raises earnings outlook
The group became the latest big US company to raise its full-year earnings guidance, adding to evidence that the country’s industry is steering its way through an uneven global recovery
Unlocking of iPhones now deemed legal in US
iPhone owners can now legally modify their phones to switch networks and run applications not sanctioned by Apple, as a result of new rules announced by the US Copyright Office
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