TORONTO - The recent purchase by Chinese aluminum group Chinalco of a stake in world No. 2 miner Rio Tinto adds fire power to Rio’s rejection of BHP Billiton’s hostile takeover bid, Rio Tinto’s top executive has said on Wednesday.
CHICAGO - Philip Morris USA has said on Wednesday it has asked the United States International Trade Commission to stop illegally imported cigarettes bearing PM USA’s trademarks, including those of top selling Marlboro brand, from entering the United States.
WASHINGTON - Sovereign wealth funds, which have drawn criticism for recent multi-billion dollar injections into battered United States banks, are a good thing but could be more transparent, senior United States officials has said on Wednesday.
WASHINGTON - Federal Reserve districts all saw decelerating economic growth in early 2008, even as prices pressed upward almost everywhere, the central bank’s “Beige Book” report on economic conditions has said on Wednesday.
NEW YORK - Bond insurer Ambac Financial Group Inc has said on Wednesday it plans to sell at least $1.5 billion of stock and convertible securities, to help preserve the top-tier credit ratings critical for its main insurance business.
NEW YORK - Boeing Co expects to have a meeting with the United States Air Force on Friday to discuss the defense company’s loss of a $35 billion refueling tanker contract, the chief of its defense unit has said on Wednesday.
NEW YORK - Yahoo Inc extended its deadline to nominate board directors, gaining time to seek alternatives or negotiate friendlier terms to a $41.7 billion purchaseout offer from Microsoft Corp .