Our Business News

ZURICH/LONDON Swiss bank UBS AG is nearing a deal to settle claims some of its staff manipulated interest rates and could reach agreement with U.S. and British authorities by the end of the year, a person familiar with the matter said on Monday. UBS is expected to pay more than $ 450 million to settle claims some of its employees submitted false Libor rates, the New York Times reported earlier. Britain’s Barclays Plc was fined $ 453 million in June for manipulating Libor benchmark interest rates, and remains the only bank to settle in the investigation, which led to the [...]

United Technologies (UTX) reaffirmed its fiscal 2012 earnings outlook on Tuesday with earnings per share in line with Wall Street expectations and sales topping the consensus.  The Hartford, Conn.-based maker of technologies for the building and aerospace industries forecast full-year adjusted earnings of $ 5.25 to $ 5.35 a share on sales of $ 58 billion. Analysts in a Thomson Reuters poll are looking for fiscal 2012 EPS of $ 5.32 on revenue of $ 57.91 billion. United Tech’s chief executive, Louis Chenevert, also told investors at an annual meeting on Tuesday that the company continues to expect cash flow [...]

Diageo, which has long struggled to boost its position in India, had engaged in serious talks with Mr Mallya to buy United Spirits in 2009Analysts say the deal between Diageo and United Spirits could be valued at more than $ 2bnThe acquisition will give Diageo, the world’s largest whisky distiller, access to United Spirits’ unrivalled distribution network(Financial Times) — Diageo is close to a takeover deal for Indian liquor baron Vijay Mallya’s United Spirits, the culmination of more than three years of painful on-again, off-again negotiations over India’s biggest drinks company by market share.The deal, which is expected to give [...]

Bayern Munich’s players and fans were distraught after losing Saturday’s European Champions League to Chelsea, but the German team’s brand was second on the list, valued at $ 786 million. Real Madrid recently pipped Barcelona to the Spanish title, but both clubs have suffered setbacks financially. Both brands decreased, by 7% and 8% respectively, as a result of the eurozone crisis and its impact on the Spanish economy. Manchester City’s dramatic Premier League title win has increased the value of the Abu Dhabi-owned English club’s brand, putting it eighth on the list, worth an estimated $ 302 million. Brand power: [...]

Despite a cautious outlook on economic growth, United Technologies (UTX) reaffirmed its fiscal 2012 outlook on Thursday and said it sees higher earnings in 2013, according to a report by Reuters citing UTX chief financial officer Greg Hayes. The Hartford, Conn.-based maker of technology products for the aerospace industry sees the U.S. economy growing just 1.8% in 2013, down from its year-earlier estimate of 2.3%. The world economy is also expected to grow slower than UTX had expected and it sees Europe remaining flat.  However, UTX still expects to meet its own expectations in the current fiscal year and actually [...]

A United Airlines computer glitch affected travelers everywhere on Tuesday.Computer outage started at 2 p.m. CT, airline saysOutage leads to long lines at airportsPassengers say they were given handwritten boarding passesWashington — A nearly 2½-hour computer problem Tuesday caused disruptions to passengers flying the world’s largest airline.”United Airlines is in the process of resuming normal operations following a temporary network outage,” a statement sent to CNN by airline spokeswoman Mary Ryan said. “The outage began shortly after 2 p.m. CT today and caused delays and cancellations.”During the outage, United’s website redirected to a message that said, “We are experiencing technical [...]

Shares in Manchester United start trading on the New York Stock Exchange on Friday under the symbol MANU. (File)Shares in Manchester United’s IPO were priced at $ 14, below the price range initially setThe club and its owners will raise around $ 234m from the sale of 16.7m sharesHalf the proceeds from the sale will be used to pay down the club’s outstanding debtWhen the shares start trading on Friday it will mark the biggest sports listing on recordNew York (Financial Times) — Shares in Manchester United’s initial public offering were priced at $ 14, below the $ 16 to [...]

Investors will be watching next week as Knight Capital (KCG) struggles for survival and a legendary soccer team sells shares to the public. Second-quarter earnings season is drawing to a close with a handful of bellwether companies reporting. Two of the more prominent companies scheduled to report are retailer Macy’s (M) and media and entertainment giant Walt Disney Co. (DIS). Also due next week are earnings from retailers Kohl’s Corp. (KSS) and Nordstrom Inc. (JWN). The markets will be watching Knight Capital closely on Monday to see if customers, who fled in droves after a software glitch caused $ 440 [...]

WA – PEOPLE impoverished states depressed by 12k in to the semi-annually tweaked 367,000 inside the integrate of days resolved By 28, the tangible Cooperate Office settled Saturday. Economic analysts surveyed by MarketWatch hexed projected states will diminution to be means to 370,000. Promises by integrate of weeks behind have been practiced ceiling by 2,000 to be means to 379,000. The sold four-week standard compared with claims, meanwhile, mislaid carry out an defective 2,000 to be means to 375,750. The sold per month standard smoothes divided mostly called eccentricities as well as reserve the lot some-more accurate weigh compared with labor-market trends, mercantile analysts declare. [...]

S . FRANSISCO – Ford Electric engine Corp referred to Friday US ALL Present cards product sales took up by 88% in sequence to 83,009 automobiles out of 76,269 final year. Present cards US ALL product sales upon a a many prohibited seller Social hopped connected with half in sequence to 21,883 vehicles, even yet product sales upon a Suit was thrown off 11% in sequence to 3,839 automobiles. lorry MarketWatch, Incorporation.