U.S. hedge fund King Street urges Toshiba to speed up share buybacks
Japan’s Toshiba Corp is “severely undervalued” and should boost share repurchases, U.S. hedge fund King Street Capital Management LP said in a letter on Wednesday.
Oil slips below $85 as Saudi raises output towards record
Oil traded below a four-year high on Wednesday as top exporter Saudi Arabia said it increased output to near a record high and after Reuters reported that Russia and Saudi Arabia had struck a private deal in September to pump more.
Futures rise on hopes of Italy’s budget concessions
U.S. stock futures rose on Wednesday, buoyed by a rebound in European markets after Italy indicated that it was open to reducing its budget deficits in the coming years.
VW’s Skoda needs to boost annual capacity by 400,000 cars: CEO
Volkswagen’s Czech carmaker Skoda Auto needs to increase its capacity in Europe by 400,000 cars annually from the start of the next decade, Chief Executive Bernhard Maier was quoted as saying on Wednesday.
Inflation expectations haven’t gone up as much as wanted: Fed’s Evans
Chicago Federal Reserve Bank President Charles Evans said on Wednesday that U.S. inflation expectations in financial markets hadn’t gone up as much as he would have liked.
Federal Reserve prepares for next crisis, bets it will begin like the last
The Federal Reserve painted a picture of the U.S. economy that was almost too good to be true at its last meeting, with inflation seen contained in the near future despite the lowest unemployment rate in 20 years.
Euro lifted off six-week low by Italian budget cut reports
The euro was lifted on Wednesday by reports that Italy plans to reduce its budget deficit over the next three years, but traders said the gains could be fleeting.
Exclusive: Saudi Arabia, Russia agreed in Sept to lift oil output, told U.S.
Russia and Saudi Arabia struck a private deal in September to raise oil output to cool rising prices and informed the United States before a meeting in Algiers with other producers, four sources familiar with the plan said.
Fed’s Evans says comfortable with a December rate hike
Federal Reserve policymaker Charles Evans said on Wednesday he was comfortable with expectations in financial markets that the U.S. central bank will raise interest rates again in December.
With rates on the rise, Fed must plan for next downturn, Evans says
With the U.S. economy strong, inflation nearly back to the Federal Reserve’s 2-percent goal, and the Fed’s gradual rate hikes likely to begin mildly restraining growth by late next year, it is time to consider how best to fight the next downturn, a U.S…
