Sun shines on ASOS as Inditex and H&M feel the chill
MADRID/STOCKHOLM (Reuters) – Cold weather in recession-weary Europe left spring collections on the racks of the world’s biggest clothing retailers, Inditex and H&M, while small British rival ASOS beat the seasons with soaring demand for its cost-conscious online offering.
Euro zone industrial output shows surprise rise in April
BRUSSELS (Reuters) – Industrial output from euro zone factories defied market expectations of a month-on-month decline and rose in April, data showed on Wednesday, but the pace of expansion was slowed by a drop in production of energy and durable consu…
Export slowdown threatens emerging Asia’s credit-fuelled boom
KUALA LUMPUR (Reuters) – A deepening slump in exports is sending tremors through Asia, threatening to undermine some booming emerging economies that have surged ahead in recent years on a heady combination of easy credit, buoyant consumer demand and st…
Global shares, dollar recover after steep selloff
LONDON (Reuters) – The dollar and world shares edged higher on Wednesday, clawing back some of the previous day’s steep losses as investors sought out bargains with one eye on central bank stimulus.
Princely Liechtenstein bank keen for clarity on tax
ZURICH (Reuters) – Prince Max von und zu Liechtenstein, chief executive of Liechtenstein’s biggest bank LGT, said it was striking how fast opinions on tax evasion had shifted since 2008, when stolen data revealed hundreds of Germans had hidden assets i…
EU tax chief calls for wider bank data swap to fight tax dodging
BRUSSELS (Reuters) – The European Commission proposed to expand the kind of customer information that banks must surrender to authorities around the European Union, as political momentum grows to clamp down on tax dodging.
JPMorgan stays top of investment banking in first quarter: study
LONDON (Reuters) – JPMorgan Chase kept its top spot for investment banking in the first quarter after bringing in $6.9 billion in revenues, putting it ahead of four rivals tied for second place, a study showed on Wednesday.
Bermuda premier says UK territories won’t sign tax deal before G8
LONDON (Reuters) – Britain’s overseas territories will not sign up to an international convention aimed at tackling tax evasion ahead of the G8 summit in Northern Ireland next week, the premier of Bermuda said on Wednesday.
Analysis: Emerging market crunch may cause Fed to think twice
LONDON (Reuters) – If currency turbulence in emerging markets escalates into full-scale investor flight, the Federal Reserve may have a fresh headache in deciding when to slow its dollar printing policy.
NY regulator calls for moratorium on “shadow insurance” practice
(Reuters) – New York’s top financial regulator has called for a national moratorium on certain transactions by life insurance companies that potentially put policyholders and taxpayers at greater risk, according to a regulatory report.
