July 6, 2014 / 9:01 PM / 3 years ago


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IMF’s LaGarde hints at cut in world growth forecasts

AIX-EN-PROVENCE, France - Christine LaGarde, chief of the International Monetary Fund, indicates that the IMF may trim the Fund’s growth forecasts, although she says that global economic activity should get stronger in the year’s second half and accelerate in 2015. (IMF/ (UPDATE 2), moved, 437 words)


When CEO has cancer, board must plan for more than succession

NEW YORK - When Goldman Sachs’ then-senior partner, Gus Levy, suffered a stroke in the middle of a client meeting in 1976 and died shortly afterwards, the bank’s management didn’t know who would lead the investment bank. It turned out that Levy left instructions on a note in his top desk drawer. Succession planning at U.S. companies is more sophisticated now. Case in point: JPMorgan Chase & Co, whose Chairman and CEO Jamie Dimon told the bank’s employees and shareholders on July 1 that he has throat cancer. (JPMORGAN CHASE DIMON/MANAGEMENT (ANALYSIS), moved, by Paritosh Bansal and Lauren Tara LaCapra, 1,258 words)

U.S. moves toward opening skies for commercial drones

SEATTLE/NEW YORK - The U.S. air safety regulator is drafting rules to permit small drones to be used for commercial purposes, a step toward allowing remote-control planes and helicopters to be deployed for everything from TV news coverage to monitoring crops.(USA-DRONES/FAA, moved, by Alwyn Scott and Jennifer Saba, 916 words)

U.S. tightens security on electronics at overseas airports

WASHINGTON - The U.S. Transportation Security Administration says it will not allow cellphones or other electronic devices on U.S.-bound planes at some overseas airports if the devices are not charged up.(USA-SECURITY/AIRPORTS, moved, 223 words)


Daimler expects sales to surpass Audi, BMW in China this year

FRANKFURT - German carmaker Daimler expects its Mercedes-Benz brand to overtake rivals Audi and BMW by the number of cars sold in China this year as its new strategy for the world’s biggest car market starts to bear fruit, a board member tells a newspaper.(DAIMLER-CHINA), moved, 302 words)

Spain’s Gowex to file for bankruptcy

MADRID - Spanish wireless networks provider Gowex says it will file for bankruptcy and its CEO has resigned, in a dramatic collapse to a success story in which its stock value grew 22-fold as it sought to conquer the world with its Wi-Fi services. (GOWEX-BANKRUPTCY/(UPDATE 2), moved, by Julien Toyer, 857 words)


How to fix a broken market in antibiotics

LONDON - The drugs don’t work - and neither does the market, when it comes to antibiotics. When sophisticated bugs that medicines used to kill within days start to fight back and win, all of healthcare is in trouble. (HEALTH-ANTIBIOTICS/ (INSIGHT, PIX, REPEAT) moved, by Ben Hirschler and Kate Kelland, 1,430 words)


“Transformers” crushes “Tammy” to lead weekend box office

LOS ANGELES/NEW YORK - “Transformers: Age of Extinction” collects $36.4 million in ticket sales over the three-day July 4 weekend, storming ahead of new films “Tammy,” “Deliver Us From Evil” and “Earth to Echo” to lead the U.S. and Canadian box office for a second consecutive weekend. (BOXOFFICE/), moved, by Ronald Grover and Chris Michaud, 471 words)

+See also: BOXOFFICE/CHART, moved

COLUMN - Wall St Week Ahead

Double-digit profit growth may return in Q2

NEW YORK - With the hoopla over the Dow topping 17,000 out of the way, the market’s next focus is whether double-digit profit growth will return in the second quarter - and whether that will give a reason for U.S. stocks to keep climbing further into record territory. (USA-STOCKS/WEEKAHEAD (UPDATE 2, SCHEDULED COLUMN), Expect by 2130 GMT/ 5:30 p.m., by Angela Moon, 750 words)

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