European shares rise as Fed expectations soothe Brexit fears
LONDON (Reuters) – European shares rose and sterling gained against the dollar and yen on Wednesday as expectations of dovish words from the U.S. Federal Reserve soothed investors on edge over whether Britain will vote to leave the European Union.
China stocks reverse losses as investors shrug off MSCI ‘nay’ decision
SHANGHAI (Reuters) – China stocks reversed early losses and rose more than 1 percent by midday on Wednesday as investors quickly shrugged off MSCI’s decision not to add mainland Chinese shares to one of its key benchmark indexes.
Subjective U.S. bank forecasts to figure in loan loss reserves
NEW YORK (Reuters) – A U.S. accounting regulator plans to release new rules on Thursday that will change how banks set aside money for bad loans, raising fresh questions about the role of forecasts in their financial reports.
Mitsubishi Motors used improper mileage data for other models: media
TOKYO (Reuters) – Mitsubishi Motors Corp used improper fuel economy data for additional models that are no longer being sold and plans to report on the matter soon to Japan’s transport ministry, local media reported on Wednesday.
DoubleLine’s Gundlach says ‘central banks are losing control’
NEW YORK (Reuters) – Jeffrey Gundlach, the chief executive of DoubleLine Capital, said on Tuesday investors are dropping risky assets and turning to safer securities including Treasuries and gold because they are losing faith in central banks.
Viacom director pleads for access to Sumner Redstone
(Reuters) – Viacom Inc’s lead independent director on Tuesday pleaded for a meeting with controlling shareholder Sumner Redstone and warned of further court battles if the media tycoon remained inaccessible to the board.
U.S. retail sales point to strong domestic demand
WASHINGTON (Reuters) – U.S. retail sales rose strongly in May as Americans bought automobiles and a range of other goods, even as they paid more for gasoline, suggesting that economic growth was gaining steam despite a sharp slowdown in job creation.
Wall Street falls as Brexit vote becomes major fear
(Reuters) – Wall Street dropped for a fourth straight session on Tuesday as central bank policymakers weighed the health of the U.S. economy and investors worried about an upcoming vote in Britain on whether to leave the European Union.
Platinum Partners to shut main hedge fund following arrest of associate
NEW YORK (Reuters) – U.S. hedge fund Platinum Partners is returning the majority of its assets to clients following the arrest of a longtime associate on allegations he orchestrated a $60,000 cash bribe to secure an investment from a New York city unio…
Twitter invests $70 million in SoundCloud: Re/code
(Reuters) – Twitter Inc has invested about $70 million in Berlin-based music service SoundCloud, technology website Re/code reported citing people familiar with the deal.
