U.S. and euro zone business improves, Asia a concern
LONDON/NEW YORK (Reuters) – Global manufacturing and service sector activity expanded in August at the same pace as in July, with both the U.S. and euro zone doing better than Asia, according to purchasing manager surveys.
Los Angeles drops mortgage discrimination case against JPMorgan
NEW YORK (Reuters) – Los Angeles has dropped a lawsuit accusing JPMorgan Chase , the largest U.S. bank, of discriminatory mortgage lending, ending the first of the city’s four lawsuits accusing major banks of driving up foreclosures among minority borr…
Gun maker Colt says near deal to exit bankruptcy
WILMINGTON, Del (Reuters) – Gun maker Colt Defense and its creditors are close to a deal on a plan to bring the company out of bankruptcy, but if it fails, the business will go on the auction block next month, a company lawyer told a judge on Thursday….
B&G to buy General Mills’ Green Giant frozen foods business
(Reuters) – Snack food company B&G Foods Inc said it would buy General Mills Inc’s Green Giant frozen foods and Le Sueur canned vegetables brands for about $765 million to expand its distribution network and enter the frozen foods market.
Oil up again on Wall Street; volatility after U.S. stockpile hike
NEW YORK (Reuters) – Crude futures rose for a second straight session on Thursday on the strength of equity markets as a respite in bad news out of China and the potential for more European monetary easing added to risk taking in oil.
Ford opens $275 million engine plant in Russia
MOSCOW (Reuters) – U.S. carmaker Ford’s Russian venture, Ford Sollers, opened a $275 million engine plant on Thursday, which will help make its Russian-produced vehicles less dependent on imported components and currency fluctuations.
ECB flags beefed up QE as growth, inflation outlook fades
FRANKFURT (Reuters) – The European Central Bank cut its growth and inflation forecasts on Thursday, warning of possible further trouble from China and paving the way for an expansion of its already massive 1 trillion-euro plus asset-buying program.
Shrinking U.S. trade gap shows economy’s underlying strength
WASHINGTON (Reuters) – The U.S. trade deficit fell in July to its lowest level in five months as exports rose broadly, signaling underlying strength in the economy amid concerns about a global growth slowdown.
As Fed ponders interest rate rise timing, markets overshadow U.S. jobs report
NEW YORK (Reuters) – In calmer times the U.S. employment report due to be published on Friday would be the Federal Reserve’s best and last economic signal before it decides whether to raise interest rates later this month for the first time in nearly a…
VW’s finance chief set to become new chairman
BERLIN (Reuters) – Volkswagen’s finance chief Hans Dieter Poetsch is set to become its next chairman, putting Europe’s biggest carmaker on course for calmer waters after rival factions including ousted patriarch Ferdinand Piech united to back him.
