Pharaohs’ shadow an omen in Egypt gold search
EASTERN DESERT, Egypt (Reuters) – Careering around Egypt’s rocky Eastern Desert, Alexander Nubia CEO Mark Campbell peers from his jeep and sees hills so rich with gold they could lure billions in investments and jumpstart the ailing economy. His compa…
Third of WPP investors refuse to back CEO Sorrell’s pay deal
LONDON (Reuters) – A third of investors in Martin Sorrell’s WPP failed to back the advertising boss’s 70 million pound ($102 million) pay package on Wednesday, one of the biggest payouts in British corporate history.
World stocks struggle to build on highs as Europe weighs
MILAN (Reuters) – World stocks struggled to build on six-week highs on Wednesday after mixed Chinese data, weighed down by a weaker session in Europe and political concerns that sent Germany’s 10-year government bond yield to a record low.
OECD lead indicator flags first signs of growth stabilization
PARIS (Reuters) – Signs are emerging that a downturn in the United States and China, the world’s two biggest economies, may have bottomed out, the OECD’s monthly leading indicator showed on Wednesday.
IKEA Group CEO sees full-year sales growing 8-10 percent
ALMHULT, Sweden (Reuters) – The head of IKEA Group, which owns most IKEA furniture stores worldwide, said on Wednesday he expected sales to grow about 8-10 percent in the company’s fiscal year through end-August.
Frustrated in China, U.S. industry hopes for post-election reset to annual talks
BEIJING (Reuters) – As the United States and China wrapped up talks this week touting bilateral cooperation on strategic and economic issues, many in the U.S. business community say the annual dialogue is delivering diminishing returns in resolving com…
China commerce ministry removes curbs on Wal-Mart’s Yihaodian deal
HONG KONG (Reuters) – China’s Ministry of Commerce has removed restrictions on Wal-Mart Stores Inc’s deal in 2012 to raise its stake in online supermarket Yihaodian, and said the move would not impact the already competitive market.
‘Brump’ or ‘Trexit’? Markets may conflate year’s biggest risks
LONDON (Reuters) – Even though market myopia is often used to explain why investors appear to be ignoring November’s U.S. presidential election while trading furiously around this month’s vote on Britain leaving the EU, the two events may end up being …
China central bank holds line on growth forecast but sees more pain to come
SHANGHAI (Reuters) – China’s central bank slashed its forecast for exports on Wednesday, predicting a second straight annual fall in shipments, but said the economy will still grow 6.8 percent this year.
Turkish economy minister expects central bank to continue rate cuts
ANKARA (Reuters) – Turkish Economy Minister Nihat Zeybekci said he expected the central bank, which has cut its lending rate for three straight months, to continue with rate cuts and that a 50 basis point reduction each time was a good level.
