Japan lawmakers urge bourse, regulators to be tough on Toshiba
TOKYO (Reuters) – Japanese lawmakers on Wednesday called for a tough regulatory response to Toshiba Corp’s second postponement of its annual results over accounting woes, saying the scandal could erode foreign investor confidence.
Citi sells Hungary consumer banking business to Erste Group
(Reuters) – Citigroup Inc agreed to sell its consumer banking business in Hungary to Austria’s Erste Group Bank AG as the third-biggest U.S. bank by assets continues to divest non-core operating businesses.
IMF’s Lagarde warns of spillover risks from recent volatility
JAKARTA (Reuters) – Recent volatility in global financial markets shows how rapidly risks can spill over from one economy to the next, the managing director of the International Monetary Fund (IMF) said in Jakarta on Wednesday.
Wall St. turbulence returns as weak China data magnifies fear
(Reuters) – Turmoil returned to Wall Street on Tuesday after a brief rest, with renewed concerns about China’s economy pushing major indexes down almost 3 percent and intensifying fears of a long-term selloff.
U.S. auto sales stronger than expected in August on trucks, SUVs
DETROIT (Reuters) – The U.S. auto industry powered ahead in August, topping sales estimates and shrugging off gyrating stock markets as consumers continued to show their penchant for pickup trucks and SUVs.
Oil retreats more than $5 on weak data, eroding 25 percent rally
NEW YORK (Reuters) – Oil prices plummeted on Tuesday, settling 8 percent lower, as weak Chinese data extended a roller-coaster run that knocked oil to its lowest in 6-1/2 years last week before frenzied short-covering fueled a 25 percent three-session …
Kmart pays $1.4 million to settle U.S. charges over Medicare inducements
WASHINGTON/NEW YORK (Reuters) – Kmart Corp has paid $1.4 million to settle U.S. allegations that it violated the federal False Claims Act by inducing Medicare beneficiaries to fill prescriptions at its pharmacies, the Department of Justice said on Tues…
U.S. says 19 million Takata air bag inflators still need repair
DETROIT (Reuters) – U.S. safety regulators on Tuesday said that about 19 million defective Takata Corp air bag inflators remain installed in U.S. vehicles, and that no root cause to the problem has been found.
Factory slowdown puts wrinkle in U.S. growth outlook
WASHINGTON (Reuters) – U.S. factory activity braked to a more than two-year low in August, but sturdy gains in automobile sales and construction spending suggested the economy remained on solid footing.
China manufacturing contracts, euro zone and U.S. slows
LONDON (Reuters) – China’s giant manufacturing industry contracted and euro zone and U.S. growth eased in August in data published on Tuesday, while the International Monetary Fund cut its forecast for world growth this year.
