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Business - Airbus terminates sale of six A380 superjumbos to Japan`s Skymark


Airbus Group NV said on Tuesday it has terminated an agreement to deliver six A380 superjumbo jets to Skymark Airlines Inc after the Japanese discount carrier struggled to raise enough cash to pay installments on the aircraft. In a briefing in Tokyo before Airbus`s announcement, Skymark`s CEO and chief investor, Shinichi Nishikubo, said that the European aircraft maker had refused to consider changes to the 2011 purchase agreement, including reducing the number of aircraft or offering smaller jets and had notified it of the termination in a faxed message on Sunday. `We didn`t get the chance to sit down and have a formal discussion,` Nishikubo said. The termination marks a setback for Airbus in Japan after it won its first order ever from Japan Airlines (JAL) last year which agreed to buy more than 30 A350 jets.


Tuesday, July 29, 2014  10:41

Yahoo

Business - Asia stocks reach three-year peak, China on the rise


Hong Kong`s key stock index rose 0.5 percent to its loftiest level in over 3-1/2 years on optimism that the economy has turned a corner and as investors wagered on more growth-friendly policies from Beijing. The charge had been led by Chinese banks after a Reuters report said the country`s fifth-biggest bank by assets planned to seek more private investors. `The recent rally of Hong Kong and China stock markets is pretty much liquidity-driven due to favourable fund flow. MSCI`s broadest index of Asia-Pacific shares outside Japan added 0.33 percent to be just a whisker from a peak last touched in April 2011.


Tuesday, July 29, 2014  07:34

USATODAY

Top Stories - Libya torn by worst fighting since 2011 revolution


Rival militias engage in severe fighting at Tripoli`s airport.


Monday, July 28, 2014  22:06

Yahoo

World - Dollar Tree to buy Family Dollar to stave off competition


Dollar Tree Inc agreed to buy rival discount chain Family Dollar Stores Inc for $8.5 billion to fend off growing competition from Wal-Mart Stores Inc and fellow discounter Dollar General Corp . Dollar stores have struggled in a weak U.S. economy as Wal-Mart and other large retail chains chase penny-pinching consumers by offering more items priced at $1 or less. The deal will give Dollar Tree more than 13,000 stores across the United States and Canada, vaulting the company ahead of Dollar General to become North America`s biggest discount retailer, with more than $18 billion in annual sales. While the sale is a big win for Family Dollar`s largest shareholder, Carl Icahn, the activist investor responded to the offer by saying there were `a handful of potential buyers` that he believed would be a better fit.


Monday, July 28, 2014  22:33

Yahoo

Business - Consumer Reports wants Toyota to recall older Camry hybrids


By Ben Klayman DETROIT (Reuters) - An influential consumer magazine on Monday called on Toyota Motor Corp to recall about 177,500 older Camry hybrid sedans to address potential power brake defects. Consumer Reports, which many consumers use when studying what vehicles to buy, said the Japanese automaker`s decision to call for a service campaign or a warranty extension on two different problems covering cars from model years 2007 to 2011 does not go far enough. Under a service campaign, an automaker repairs cars as they are brought back to dealers by consumers. `Consumer Reports believes that Toyota should recall these cars,` the magazine said.


Monday, July 28, 2014  22:20

Yahoo

Business - Consumer Reports wants Toyota to recall some 177,500 Camry hybrids


An influential consumer magazine on Monday called on Toyota Motor Corp to recall about 177,500 older Camry hybrid sedans to address potential power brake defects. Consumer Reports, which many consumers use when studying what vehicles to buy, said the Japanese automaker`s decision to call for a service campaign or a warranty extension on two different problems covering cars from model years 2007 to 2011 does not go far enough. Under a service campaign, an automaker repairs cars as they are brought back to dealers by consumers. `Consumer Reports believes that Toyota should recall these cars,` the magazine said.


Monday, July 28, 2014  21:53

Yahoo

World - Aqunio urges support as scandal threatens to hurt Philippine economy


By Manuel Mogato and Karen Lema MANILA (Reuters) - Philippine President Benigno Aquino called on the nation on Monday to support his reforms as he faced the biggest political crisis in his four years in power, a spending scandal that could damage his anti-graft image and undermine reforms. The Supreme Court this month declared partly illegal a 145 billion pesos ($3.34 billion) economic stimulus fund that Aquino created in 2011 from budget savings, sparking a storm of controversy that put into doubt his commitment to fighting corruption. Economists are concerned the controversy over the Supreme Court`s ruling is slowing public spending because officials are more wary about accusations of recklessness and are subjecting decisions to more scrutiny, putting at risk big infrastructure projects.


Monday, July 28, 2014  13:40


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