Industrials

Moody's shares slide on lawsuit worries

Shares in credit rating agency Moody's Corp slid 6 percent on Friday as it faces a possible federal fraud lawsuit over its pre-crisis debt ratings.

Sabic's Geleen chemical plant drops output as workers strike

KHOBAR, Saudi Arabia (Reuters) - A strike by workers at the SABIC Europe Chemicals Geleen plant in the Netherlands has lowered production, the company's Saudi Arabian owner said on Saturday, without specifying by how much.

Analysis: China upturn underscores need to rebalance economy

China's recovery from its longest slowdown in growth since the global financial crisis is being driven by the two forces posing the biggest risks to the economy's increasingly urgent need to rebalance - investment and property.

South Africa's Amplats to shed mines and 14,000 jobs

Anglo American Platinum , the world's top platinum producer, said it will mothball two South African mines, sell another and cut 14,000 jobs in moves to restore profits that may provoke a repeat of last year's strikes when about 50 people died.

Manufacturing problem likely caused F-35B engine failure: sources

Pentagon and industry investigators have pinpointed a manufacturing quality problem as the most likely cause of an engine failure that led to the grounding of the Marine Corps version of the Lockheed Martin Corp F-35 fighter jet, sources familiar with the investigation told Reuters.

Pentagon, industry seek answers on issue that grounded F-35B

Pentagon and industry officials worked through the weekend to determine what caused the failure of a fuel line on the Marine Corps version of Lockheed Martin Corp's s F-35 fighter jet that prompted the plane's grounding on Friday.

Bumi says Indonesia probe fails to prove misconduct

London-listed coal miner Bumi Plc said an independent probe had not been able to prove misuse of funds at its Indonesian units, as documentary evidence had been obtained illegally and key witnesses had refused to cooperate.

Thyssen chairman admits to mistakes but won't quit

ThyssenKrupp AG Chairman Gerhard Cromme admitted on Friday to making mistakes that contributed to massive losses at the German steelmaker, but didn't bow to pressure from some shareholders to step down.

EU's China ambassador says no trade war with Beijing

The European Union will not be drawn into a trade war with China, the EU's ambassador to the country said on Wednesday, a day after trade sources said the European Commission found that Beijing illegally subsidizes Chinese steel producers.