U.S. consumer prices rise for 11th straight month

WASHINGTON — U.S. consumer prices rose for the 11th straight month in May but at a slower pace amid easing energy prices, official data showed Wednesday. The consumer price index climbed a seasonally adjusted 0.2 percent, the Labor Department said. Year-on-year, prices were up 3.6 percent, chewing away at consumers’ earnings. Core inflation – a […]

Boeing announces plan to build more planes

Boeing Co plans to increase the production rate on its hot-selling 737 narrowbody plane to 42 per month, starting in 2014, the company said on Wednesday. The world’s second-largest plane-maker after EADS unit Airbus produces 31 1/2 737 airplanes per month and expects to increase to 35 per month in early 2012, 38 per month […]

SEC proposes expanded level of scrutiny for brokerages

The U.S. Securities and Exchange Commission proposed expanding scrutiny of how brokerages handle trillions of dollars in client assets in a measure that reflects the enduring regulatory impact of Bernard Madoff’s Ponzi scheme. SEC commissioners voted 5-0 today to seek comment on a rule that would increase disclosures required of broker-dealers who hold investor funds, […]

Departure prompts leadership changes at JPMorgan Chase

NEW YORK — JPMorgan Chase & Co. on Tuesday said the head of its international business will retire from the bank early next year in a realignment that will expand responsibilities for other executives. JPMorgan Chase announced the departure of Heidi Miller a year after she was named president of international operations. The 58-year-old previously […]

Lockheed Martin to slash 1,200 jobs in space systems unit

BETHESDA, Md. – Lockheed Martin is cutting nearly 8 percent of jobs in its space systems unit, a move that will improve efficiencies but affect workers in California and Pennsylvania. The company on Tuesday said about 1,200 employees would be removed in a combination of voluntary and involuntary layoffs. Most of the workers belong to […]