Greek banks’ bad loans at around 45 percent: local paper
ATHENS (Reuters) – Greek banks’ bad loans, which peaked after capital controls were imposed in late June, have dipped to around 45 percent of their loan books and are likely to fall further, daily newspaper Kathimerini said on Tuesday, citing bankers’ …
Uber to enter 100 more Chinese cities in next 12 months: CEO
BEIJING (Reuters) – U.S. ride-hailing service Uber Technologies Inc [UBER.UL] will enter 100 more Chinese cities over the next year, doubling a previous goal set just three months ago, Chief Executive Travis Kalanick said on Tuesday.
JPMorgan uses its might to cut costs in credit card market
NEW YORK (Reuters) – JPMorgan Chase & Co. is cutting prices for a group of its credit card customers and getting Visa Inc to shoulder at least some of the burden of the lost revenue, underscoring how the largest U.S. bank’s size can help it hang onto business in fiercely competitive markets.
Exclusive: Safety deadline may exempt U.S. railroads from freight obligations
WASHINGTON (Reuters) – U.S. railroads may not be obligated under federal law to carry freight including crude oil and hazardous materials from Jan. 1 if they fail to meet a year-end deadline for implementing new train safety technology, according to a …
Pilots’ union calls Lufthansa strikes for Tuesday, Wednesday
BERLIN/FRANKFURT (Reuters) – The German pilots’ union will extend its strike at Lufthansa into Wednesday after a walkout already planned for Tuesday in a long-running dispute over pay, benefits and cost cuts.
China forex reserves in record fall as Beijing tries to calm markets
SHANGHAI/BEIJING (Reuters) – China’s foreign exchange reserves posted their biggest monthly fall on record in August, reflecting Beijing’s attempts to halt a slide in the yuan and stabilize financial markets following its surprise move to devalue the c…
Glencore leads European share rebound, but China hits Asia
NEW YORK (Reuters) – European stocks rose on Monday, lifted by mining and commodities giant Glencore after it pledged to slash its debt by a third, and countering a fall in Asian markets led by weakness in China following a four-day break there.
Glencore reins in debt as commodity price slump persists
(Reuters) – Mining and trading company Glencore acknowledged on Monday the severity of the global commodity market slump as it suspended dividends and said it would sell assets and new shares to cut heavy debts built up through years of rapid expansion…
Tesco sells South Korean arm to private equity group for $6.1 billion
LONDON/SEOUL (Reuters) – Tesco is selling its South Korean arm to a group led by private equity firm MBK Partners for $6.1 billion, it said on Monday, as the British supermarket retreats from foreign markets to focus on reviving its troubled domestic b…
Exclusive: Apple ups hiring, but faces obstacles to making phones smarter
(Reuters) – Apple has ramped up its hiring of artificial intelligence experts, recruiting from PhD programs, posting dozens of job listings and greatly increasing the size of its AI staff, a review of hiring sites suggests and numerous sources confirm….
