British bank competition plan falls short of challenger hopes
LONDON (Reuters) – Long-awaited measures to break the market dominance of Britain’s biggest banks, including a cap on fees for unauthorized overdrafts, were criticized on Tuesday by consumer groups as insufficient to boost competition.
Sucked into deflation again – Japan’s $2 cup noodle binge is sign of the times
TOKYO (Reuters) – Japanese consumers can’t get enough of cup noodles, with spending on them surging by more than a quarter over the past year. That sounds like good news, but for a country still struggling to escape deflation it’s a worrying signal.
Saudi Arabia aims to salvage white elephant financial district
RIYADH (Reuters) – The plan to build a financial district from scratch was viewed by Saudi Arabia’s neighbors as among the glossiest excesses of the kingdom’s oil boom profligacy: a white elephant in the making, unlikely to attract tenants and possibly…
Sumner Redstone has power to remove Viacom CEO from his trust
(Reuters) – Sumner Redstone has the power to remove Viacom Inc Chief Executive Philippe Dauman, but not his daughter Shari, from the trust that will control his $40 billion media empire after his incapacitation or death, according to two sources famil…
As Brexit vote looms, U.S. banks review their European commitments
LONDON (Reuters) – If Britain votes to leave the European Union in June, some U.S. banks could give up parts of their business in the bloc altogether.
Takata says latest U.S. recall investigative; cost issues still unresolved
WASHINGTON/TOKYO (Reuters) – Japan’s Takata Corp declared nearly 14 million air bag inflators defective as part of an expanded U.S. recall, but it said it considered the recall investigative, leaving the thorny question of cost-sharing with automakers…
Global stocks rally as Buffett boosts Apple, oil eyes $50
LONDON (Reuters) – World shares rose on Tuesday as technology giant Apple Inc’s biggest rise in over two months and oil’s march higher to within sight of $50 a barrel boosted investor demand for riskier assets at the expense of safe-haven bonds.
Slovenian bank was recipient named in failed Vietnam cyber-heist
HANOI (Reuters) – Cyber-criminals unsuccessfully tried to send 1.2 million euros ($1.36 million) from a Vietnamese bank to a Slovenian bank via the SWIFT network last December, but there have been no other cases of fraudulent transfers in Vietnam, a to…
Syngenta says offer period extended as not all approvals received
ZURICH (Reuters) – Swiss pesticides maker Syngenta said on Tuesday the offer period for ChemChina’s takeover bid was extended because some regulatory approvals were still outstanding.
AstraZeneca boosted by good results for biotech asthma drug
LONDON (Reuters) – AstraZeneca’s drive to rebuild its portfolio of new medicines received a boost on Tuesday with positive results for a biotech drug for severe asthma that the company has previously flagged as a potential $2 billion-a-year product.
