Swiss bank PostFinance to charge millionaire deposit holders
ZURICH (Reuters) – Swiss bank PostFinance [PFAG.UL] will start charging private customers for holding deposits of more than 1 million Swiss francs ($1 million), it said on Friday, blaming the impact of the Swiss National Bank’s negative interest rates …
China coal fumble casts doubt on its global commodities pricing goal
BEIJING (Reuters) – Unprecedented steps by Beijing to snuff out a months-long rally in coal prices are casting fresh doubts on China’s drive to become a global price-setting hub for commodities worth trillions of dollars.
Japan car makers shuffle output, boost imports to meet U.S. SUV demand
TOKYO/MARYSVILLE (Reuters) – Japan’s top automakers are shuffling their U.S. product portfolios and resorting to larger imports of popular models there as they scramble to meet booming demand for gas-guzzling SUVs and trucks in the world’s No. 2 auto m…
VW eyes further brand sales growth, depends on China
BERLIN (Reuters) – Volkswagen expects global deliveries of its core brand to keep growing in the months ahead but sales are driven almost exclusively by Chinese demand, data published by the German carmaker on Friday showed.
Dalian Wanda to invest $14.7 billion in tourism, mall projects in China’s south
HONG KONG (Reuters) – Chinese conglomerate Dalian Wanda Group Co Ltd said on Friday it will increase its investment in the southern province of Hunan by 100 billion yuan ($14.69 billion) to build a mega cultural and tourism project and 15 shopping mall…
Emerging assets slide as surging U.S. yields spark outflows
LONDON (Reuters) – Emerging market shares and currencies slumped on Friday as investors feared higher U.S. interest rates under incoming President Donald Trump will spark capital outflows, while European bond yields were on course for their biggest wee…
U.S. consumer financial agency could be defanged under Trump
WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau, already in legal limbo after an October court decision, could find its powers scaled back by President-elect Donald Trump and a Republican-led Congress, according to members of both …
U.S. multinationals eye foreign profits tax break with Trump win
WASHINGTON (Reuters) – Donald Trump’s White House victory moves Apple , Pfizer , Microsoft and other big U.S. corporations much closer than they have been in years to winning a big tax break on $2.6 trillion in foreign profits.
Trump presidency could prove a salve for pharma merger deals
NEW YORK (Reuters) – Biotechnology companies, whose U.S. shares soared Wednesday after Republican Donald Trump’s presidential election, may soon see another benefit: an uptick in biotech M&A.
Judge orders Amazon refunds for children’s in-app purchases
(Reuters) – A federal judge on Thursday directed Amazon.com Inc to set up a year-long process to reimburse parents whose children made in-app purchases without permission, but rejected a U.S. regulator’s request for a $26.5 million lump-sum payout.
