Autos & Transport

Qantas, British Airways merger talks grounded Friday, 19 Dec 2008

SYDNEY/LONDON (Reuters) - Australia's Qantas Airways and British Airways called off talks for a $6.4 billion merger, leaving the British carrier to consider other combinations with European peers as the sector grapples with falling demand and volatile fuel prices . Full Article

CORRECTED-UPDATE 3-FedEx profit up, but cuts costs Friday, 19 Dec 2008

* CEO takes pay cut, FedEx suspends 401(k) contributions Full Article

SAS agrees Spanair deal; FMI may launch rival bid Thursday, 18 Dec 2008

STOCKHOLM/MADRID (Reuters) - Troubled Scandinavian airline SAS said on Thursday it had signed a preliminary deal to sell a majority stake in its loss-making Spanair unit to a Spanish investor group, the latest step in a multi-pronged turnaround effort. Full Article

More Autos & Transport News

Pentair, Ingersoll warn conditions worsening Friday, 19 Dec 2008

(Recasts lead, adds quotes, stock action, changes dateline from NEW YORK) Full Article

Embraer sees credit crunch hitting 2009 jet orders Friday, 19 Dec 2008

SAO PAULO (Reuters) - Brazil's Embraer , the world's third largest commercial jet maker, expects aircraft orders to decline in 2009 as credit dries up because of the global financial crisis, Chief Executive Frederico Curado said on Thursday. Full Article

Lennar loss narrows on reduced land spending Friday, 19 Dec 2008

NEW YORK (Reuters) - Lennar Corp said on Thursday its quarterly net loss narrowed as it cut land expenditures and tried to clear its backlog of unsold homes, sending shares of the No. 2 U.S. homebuilder up. Full Article

Exelon files with regulators on hostile NRG bid Friday, 19 Dec 2008

NEW YORK (Reuters) - Exelon Corp on Thursday said it has filed with federal regulators for approval of its hostile bid for NRG Energy Inc , even though NRG's management has rejected its takeover proposal. Full Article

Mechel to cut 2009 steel product output 20-25 pct Friday, 19 Dec 2008

* Mechel plans to cut 2009 steel product output by 20-25 pct Full Article

Iberia shares rise on BA-Qantas merger failure Friday, 19 Dec 2008

MADRID (Reuters) - Shares in Iberia rose almost 5 percent on Thursday on improved merger hopes with British Airways after talks about a tie up between the UK airline and Australia's Qantas were called off. Full Article

POSCO cuts steel output, Voestalpine freezes plans Friday, 19 Dec 2008

SEOUL/LONDON (Reuters) - World No. 4 steelmaker POSCO announced its first output cut on Thursday, and Austrian counterpart Voestalpine froze 5 billion euro investment plans as inventories rise and demand tumbles. Full Article

Aer Lingus says not seeking counterbid vs Ryanair Friday, 19 Dec 2008

DUBLIN (Reuters) - Aer Lingus is not actively seeking any airline to mount a counterbid against Ryanair's hostile offer, it said on Thursday, and was unaware of an investor mentioned by media as a potential bidder. Full Article

Chile LAN enters Ecuador domestic flights market Friday, 19 Dec 2008

QUITO (Reuters) - Chile's dominant airline LAN was granted a two-year concession to operate domestic flights in Ecuador, a top aviation official said on Thursday. Full Article