Exclusive: U.S. regulators query banks on their ‘Brexit’ contingency plans – sources
LONDON (Reuters) – U.S. financial regulators are demanding regular updates from Wall Street banks about their contingency plans should Britain vote to leave the European Union, banking and regulatory sources told Reuters.
Mitsubishi Motors admits manipulating fuel economy data, shares tumble
TOKYO (Reuters) – Mitsubishi Motors Corp admitted to manipulating test data to overstate the fuel economy of 625,000 cars sold in Japan, knocking its shares down more than 15 percent and wiping $1.2 billion off its market value on Wednesday.
Iran determined to regain oil market share, can handle low price: source
LONDON (Reuters) – Iran is determined to recover its share of the world oil market following the lifting of sanctions, and can withstand low prices since it has sold oil for as little as $6 a barrel in the past, a source close to Iranian oil policy sai…
Fed should better safeguard economic data, internal watchdog says
(Reuters) – The Federal Reserve should beef up its controls over embargoed economic information given to news outlets, the U.S central bank’s internal watchdog said on Wednesday in a 38-page report dated April 15 and released publicly on Wednesday.
Growth still the missing link in emerging markets bounce
LONDON (Reuters) – Three months into an emerging market rally, investors are still waiting for the uptick in growth and exports needed to keep the rebound from fizzling out.
Coca-Cola sales drop on weak Europe demand, strong dollar
(Reuters) – Coca-Cola Co’s sales fell for the fourth straight quarter as demand weakened for its fizzy drinks in Europe and a strong dollar ate into revenue from other markets outside the United States, including Latin America.
Global markets stabilize as likely ECB support offsets weak oil
LONDON (Reuters) – Stocks markets stabilized on Wednesday as expectations of support from the European Central Bank offset a decline in the price of oil.
Russians, Saudis have capacity to ramp up oil output: Russian energy minister
MOSCOW (Reuters) – Saudi Arabia and Russia both have the capacity to steeply increase oil production, Russian Energy Minister Alexander Novak said on Wednesday, and he said he was not confident exporters would be able to agree on freezing their output …
China unveils steps to support exports to help economy
BEIJING (Reuters) – China will take steps to boost exports, including encouraging banks to boost lending, expanding export credit insurance and raise tax rebates for some firms, the cabinet said on Wednesday, in the latest step to underpin growth.
ADB head: Dollar strength ‘corrected’, market turmoil unlikely
TOKYO (Reuters) – Asian Development Bank President Takehiko Nakao said on Wednesday that the “correction” of dollar strength since the start of this year is unlikely to cause market turmoil, with the yuan and other Asian currencies stabilizing.
