PIMCO’s Gross says stimulus measures stunting business growth
NEW YORK (Reuters) – Bill Gross, founder and co-chief investment officer of bond giant PIMCO, on Tuesday said in his latest letter to investors that global stimulus measures are lowering companies’ desire to invest in future production.
BlackRock launches cross-border ETF to grow European market
LONDON (Reuters) – BlackRock , the world’s largest fund manager, plans to issue Europe’s first cross-border exchange-traded fund (ETF) in a move it expects will reduce trading costs and attract more investors to the product.
April home prices see biggest yearly gain in seven years: CoreLogic
NEW YORK (Reuters) – Home prices racked up their biggest annual gain in more than seven years in April as the recovery in the sector picked up traction, a report from CoreLogic showed on Tuesday.
Lenovo planning smartphone venture in expansion drive
SINGAPORE/HONG KONG (Reuters) – China’s Lenovo Group Ltd, the world’s No.2 PC maker, is in detailed discussions on a smartphone venture with NEC Corp, a Japanese partner in PCs whose mobile business is faltering, as it eyes partnerships and acquisition…
UK lawmakers mulling option of RBS breakup: sources
LONDON (Reuters) – Splitting up part-nationalized Royal Bank of Scotland (RBS) will be put forward as an option by lawmakers examining standards in British banking, political and industry sources said on Tuesday.
IMF tells France to step up reforms, rein in spending
PARIS (Reuters) – France must lower labor costs, open up regulated professions, deepen its labor and business reforms and cease tax hikes to get back to growth and bolster competitiveness, the IMF said on Tuesday.
Dollar, shares rebound as U.S. data calms stimulus fears
LONDON (Reuters) – The dollar and global shares recovered from one-month lows on Tuesday and German Bund futures eased, after weak U.S. data calmed concerns about an early cut in central bank stimulus.
Exclusive: Abe to urge review of Japan’s public fund strategy – sources
TOKYO (Reuters) – Japan’s government is set to urge the nation’s public pension funds – a pool of over $2 trillion – to increase their investment in equities and overseas assets as part of a growth strategy being readied by Prime Minister Shinzo Abe, a…
Former Porsche CFO fined for credit fraud in VW case
STUTTGART, Germany (Reuters) – Former Porsche SE finance chief Holger Haerter has been fined 630,000 euros ($820,000) for misleading French bank BNP Paribas in loan negotiations in early 2009.
Beijing’s forced sale of Glencore Peru mine may play into China’s hands
HONG KONG (Reuters) – Beijing’s demand that Glencore Xstrata Plc sell a copper mine in Peru may bring rich dividends for China Inc., as two companies linked to Chinese state-backed groups are weighing rival bids for the $5 billion-plus project.
