Wall St. drops after Bernanke hints at slowing stimulusBy Ryan Vlastelica NEW YORK (Reuters) - Stocks fell more than 1 percent on Wednesday after Federal Reserve Chairman Ben Bernanke said the central bank would start to reduce its stimulus measures later … More »Wall St. drops after Bernanke hints at slowing stimulus
By Ryan Vlastelica NEW YORK (Reuters) - Stocks fell more than 1 percent on Wednesday after Federal Reserve Chairman Ben Bernanke said the central bank would start to reduce its stimulus measures later this year if the economy is strong enough. Equities have been closely tethered to ultra-loose monetary policy, which has …
US Airways chief warns lawmakers of potential service cutsBy Diane Bartz WASHINGTON (Reuters) - Forcing a combined American Airlines and US Airways Group to surrender slots at Reagan National Airport would risk fewer flights to small and medium-sized cities, … More »US Airways chief warns lawmakers of potential service cuts
By Diane Bartz WASHINGTON (Reuters) - Forcing a combined American Airlines and US Airways Group to surrender slots at Reagan National Airport would risk fewer flights to small and medium-sized cities, US Airways CEO Doug Parker told lawmakers on Wednesday. Parker was testifying to a Senate subcommittee on the impact of …
Switzerland buries U.S. tax law, banks seen at riskBy Ruben Sprich BERNE (Reuters) - Swiss lawmakers dealt a death blow on Wednesday to a draft law which aimed to protect the country's banks from criminal charges in the United States for helping wealthy … More »Switzerland buries U.S. tax law, banks seen at risk
By Ruben Sprich BERNE (Reuters) - Swiss lawmakers dealt a death blow on Wednesday to a draft law which aimed to protect the country's banks from criminal charges in the United States for helping wealthy Americans evade tax. The Swiss government has warned that the bill's failure could prompt impatient U.S. prosecutors to …
Orders top $100 billion as Ryanair gives Boeing a boostBy Alwyn Scott and Maria Sheahan PARIS (Reuters) - Orders at the Paris Airshow surpassed $100 billion on Wednesday, as planemakers Boeing and Airbus cashed in on demand for fuel-efficient jets and growth … More »Orders top $100 billion as Ryanair gives Boeing a boost
By Alwyn Scott and Maria Sheahan PARIS (Reuters) - Orders at the Paris Airshow surpassed $100 billion on Wednesday, as planemakers Boeing and Airbus cashed in on demand for fuel-efficient jets and growth in both budget carriers and emerging markets. Ryanair, Europe's biggest low-cost airline, finalized an order for 175 …
Asia assets hammered on China fears, Fed upsetBy Chikako Mogi and Wayne Cole TOKYO/SYDNEY (Reuters) - Asian markets buckled badly on Thursday after the Federal Reserve heralded an eventual end to free money and China turned the screw on credit even … More »Asia assets hammered on China fears, Fed upset
By Chikako Mogi and Wayne Cole TOKYO/SYDNEY (Reuters) - Asian markets buckled badly on Thursday after the Federal Reserve heralded an eventual end to free money and China turned the screw on credit even as factory activity in the world's second largest economy hit a nine-month low. Shares, currencies and commodities all …
- Men's Wearhouse ousts founder Zimmer
(Reuters) - Apparel retailer Men's Wearhouse ousted Executive Chairman George Zimmer, the face of the company founded 40 years ago, sending its shares down as much as 6 percent. The company, which gave … More »Men's Wearhouse ousts founder Zimmer
(Reuters) - Apparel retailer Men's Wearhouse ousted Executive Chairman George Zimmer, the face of the company founded 40 years ago, sending its shares down as much as 6 percent. The company, which gave no reason for the dismissal, also postponed its annual shareholder meeting scheduled for later on Wednesday in order to …
Mortgage applications tumble as rates rise further: MBANEW YORK (Reuters) - Interest rates on home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on Wednesday. … More »Mortgage applications tumble as rates rise further: MBA
NEW YORK (Reuters) - Interest rates on home mortgages rose last week to hit their highest level in over a year, sapping demand from potential homeowners, data from an industry group showed on Wednesday. Rates climbed 2 basis points to average 4.17 in the week ended June 14, according to the Mortgage Bankers Association. …
Italian designers Dolce and Gabbana convicted of tax evasionBy Manuela D'Alessandro MILAN (Reuters) - Fashion designers Domenico Dolce and Stefano Gabbana were handed a 20-month suspended prison sentence and a heavy fine on Wednesday for hiding hundreds of millions … More »Italian designers Dolce and Gabbana convicted of tax evasion
By Manuela D'Alessandro MILAN (Reuters) - Fashion designers Domenico Dolce and Stefano Gabbana were handed a 20-month suspended prison sentence and a heavy fine on Wednesday for hiding hundreds of millions of euros from the Italian tax authorities. The design duo, who are nearly as famous as the stars they dress, were not …
Softbank closer to acquiring Sprint after Dish abandons bid for nowBy Sophie Knight and Sinead Carew TOKYO/NEW YORK (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp … More »Softbank closer to acquiring Sprint after Dish abandons bid for now
By Sophie Knight and Sinead Carew TOKYO/NEW YORK (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint Nextel Corp, as rival bidder Dish Network Corp declined to make a new offer after SoftBank sweetened its own bid last week. SoftBank Chief Executive Masayoshi Son …
Bernanke says Fed likely to reduce bond buying this yearBy Alister Bull and Pedro da Costa WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy is expanding strongly enough for the central bank to begin slowing the … More »Bernanke says Fed likely to reduce bond buying this year
By Alister Bull and Pedro da Costa WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Wednesday the U.S. economy is expanding strongly enough for the central bank to begin slowing the pace of its bond-buying stimulus later this year. Bernanke's confirmation that the Fed is getting closer to pulling back …
Analysis: Sprint should raise Clearwire bid to avoid Dish tensionBy Sinead Carew and Liana B. Baker NEW YORK (Reuters) - Sprint Nextel Corp should consider raising its offer price for Clearwire Corp or risk being saddled with a contentious relationship with Dish Network … More »Analysis: Sprint should raise Clearwire bid to avoid Dish tension
By Sinead Carew and Liana B. Baker NEW YORK (Reuters) - Sprint Nextel Corp should consider raising its offer price for Clearwire Corp or risk being saddled with a contentious relationship with Dish Network Corp, controlled by feisty billionaire Charlie Ergen. Shareholders of Clearwire, already majority owned by Sprint, …
U.S. banks failed to follow mortgage standards: monitorBy Margaret Chadbourn and Emily Stephenson WASHINGTON (Reuters) - Four of the largest U.S. mortgage servicers failed to adhere to some of the new standards set out in a landmark settlement meant to help … More »U.S. banks failed to follow mortgage standards: monitor
By Margaret Chadbourn and Emily Stephenson WASHINGTON (Reuters) - Four of the largest U.S. mortgage servicers failed to adhere to some of the new standards set out in a landmark settlement meant to help consumers facing foreclosure, a court-appointed monitor said on Wednesday. Bank of America, Citigroup, JPMorgan Chase …
Bank of Canada in uncharted territory, says new chief PolozBy Euan Rocha and Peter Henderson BURLINGTON, Ontario (Reuters) - The Bank of Canada cannot rely on its usual models to assess the economy because of unexpectedly high levels of uncertainty, with the biggest … More »Bank of Canada in uncharted territory, says new chief Poloz
By Euan Rocha and Peter Henderson BURLINGTON, Ontario (Reuters) - The Bank of Canada cannot rely on its usual models to assess the economy because of unexpectedly high levels of uncertainty, with the biggest risks coming from abroad, the new central bank chief, Stephen Poloz, said on Wednesday. Answering audience questions …
- Europe braces for competition from low-cost U.S. satellite launcher
By Irene Klotz PARIS (Reuters) - Space Exploration Technologies is not among the 2,200 companies exhibiting at the Paris Airshow, but its cut-rate Falcon rocket, which has already shaken up the U.S. satellite … More »Europe braces for competition from low-cost U.S. satellite launcher
By Irene Klotz PARIS (Reuters) - Space Exploration Technologies is not among the 2,200 companies exhibiting at the Paris Airshow, but its cut-rate Falcon rocket, which has already shaken up the U.S. satellite launch industry, is raising eyebrows in Europe. The privately owned, California-based firm, known as SpaceX, is …
China factory activity hits nine month low, policy action eyedBy Kevin Yao BEIJING (Reuters) - China's factory activity weakened to a nine-month low in June as demand faltered, a preliminary survey showed, heightening the risk of a sharper second quarter slowdown … More »China factory activity hits nine month low, policy action eyed
By Kevin Yao BEIJING (Reuters) - China's factory activity weakened to a nine-month low in June as demand faltered, a preliminary survey showed, heightening the risk of a sharper second quarter slowdown and increasing the heat on the central bank to loosen policy. China's economy grew at its slowest pace for 13 years in …
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