Exclusive: Greek bank access to bailout cash to be restricted
FRANKFURT/BRUSSELS (Reuters) – Greek banks will have restricted access to bailout funds until a fresh injection of equity to recapitalize them several months from now is approved, sources told Reuters on Wednesday.
Greece agrees steps to tackle banks’ bad loans
ATHENS (Reuters) – Greece will take steps to tackle the mountain of bad loans weighing on its banks as part of its deal with international creditors, a draft of the agreement obtained by Reuters showed on Wednesday.
China central bank under pressure to weaken yuan further
BEIJING (Reuters) – China’s move to devalue its currency reflects a growing clamor within government circles for a weaker yuan to help struggling exporters, ensuring the central bank remains under pressure to drag it down further in the months ahead, s…
Alibaba’s Suning deal a riposte to growing might of rival JD.com
BEIJING (Reuters) – “Tragedy” – that was Alibaba Group Holding Ltd founder Jack Ma’s prediction for the fate of rival JD.com Inc in comments published earlier this year.
Stocks, yields tumble after China pushes yuan lower again
LONDON (Reuters) – Markets around the world fell for a second day on Wednesday, with stocks, the dollar and emerging market currencies all under pressure after China pushed the yuan lower again overnight, boosting the appeal of top-rated government bon…
Ford targets emerging markets with frugal India build
NEW DELHI (Reuters) – Ford Motor Co plans to use low-cost engineering it learned in India to develop compact models for other emerging markets, executives said, emulating a strategy used by Asian rivals that outsell it in the world’s fifth-largest auto…
Oil steadies as bullish IEA balances Chinese yuan slide
LONDON (Reuters) – Oil prices steadied on Wednesday after an upbeat report from the IEA balanced the bearish impact of a further weakening of China’s yuan currency and disappointing Chinese industrial output data.
Credit Suisse in talks to settle ‘dark pool’ allegations: WSJ
(Reuters) – Credit Suisse Group AG is in talks to settle allegations related to its Crossfinder “dark pool” trading venue, which could result in a fine running in the high tens of millions of dollars, the Wall Street Journal reported, citing people fam…
Ford moves commercial truck production to Ohio from Mexico
DETROIT (Reuters) – Ford Motor Co on Wednesday will start building its medium-duty F-650 and F-750 commercial trucks at a Cleveland-area plant, moving production out of Mexico for the first time.
American Apparel says may not have enough funds for next 12 months
(Reuters) – Loss-making teen apparel retailer American Apparel Inc said on Tuesday it doesn’t expect to have sufficient funds to keep the business running for the next 12 months, warning shareholders may lose some or all of their investments and it may…
