Analysis: As Facebook grows up, grand ambitions get reality check
SAN FRANCISCO (Reuters) – Facebook, which once seemed poised to take over the Internet, is showing its limitations: a host of newer services are gaining ground among trend-setting youth; a much-hyped smartphone app has received a tepid response; and gr…
Japan’s Abe targets income gains in growth strategy
TOKYO (Reuters) – Prime Minister Shinzo Abe pledged to raise incomes by 3 percent annually and set up special economic zones to attract foreign businesses in the third tranche of measures aimed at boosting growth in the world’s third-biggest economy.
Euro zone GDP contraction slows in first quarter, April retail sales worse than forecast
BRUSSELS (Reuters) – The pace of the euro zone’s economic contraction slowed quarter-on-quarter in the first three months of this year, EU statistics showed on Wednesday, but retail sales in April pointed to continued weakness in household demand.
Fiat and Chrysler to refinance loans before deal
LONDON (Reuters) – Fiat has launched the first part of a three-stage multibillion-euro financing package, seeking to refinance loans taken out by Fiat and Chrysler before the Italian group’s looming purchase of the rest of the U.S. carmaker, bankers sa…
China ready to start deposit insurance system: cenbank report
BEIJING (Reuters) – Conditions are ripe for China to launch a long-awaited deposit insurance system after a consensus was reached within the government, according to the central bank’s 2013 financial stability report, sources with knowledge of the repo…
Dollar, shares fall on concerns about Japan, Fed stimulus
LONDON (Reuters) – The dollar sank below 100 yen and global shares fell on Wednesday, as modest additions to Japan’s growth strategy and renewed concerns of a cut in U.S. stimulus efforts hit demand for riskier assets.
China hits back at EU wine over solar panel duties
BEIJING (Reuters) – China hit back at European wine exports on Wednesday in response to the European Union’s decision to impose duties on imports of Chinese solar panels, as tensions increased between two of the world’s biggest trading blocs.
Euro zone slump eases slightly in May, growth remains elusive: PMI
LONDON (Reuters) – Euro zone business activity shrank at a slightly slower pace last month, but a chronic shortage of new orders means an economic recovery still looks some way off, business surveys showed on Wednesday.
Toyota says will recall 242,000 hybrids for brake design flaw
TOKYO (Reuters) – Toyota Motor Corp is recalling about 242,000 gas-electric hybrid vehicles worldwide, including the bestselling Prius model, due to a brake design flaw, the automaker said on Wednesday.
HTC operations exec steps down amid management changes
TAIPEI (Reuters) – HTC Corp’s chief operating officer has stepped down in the middle of a management restructuring intended to improve product quality and supply chains, following delays in the launch of the Taiwanese firm’s flagship new phone.
