China banks lend $209 billion to margin lender to lift stock prices: media
BEIJING (Reuters) – China’s biggest banks have lent 1.3 trillion yuan ($209.4 billion) to the country’s state-backed margin lender to halt a meltdown in Chinese shares, local media said on Friday, underlining the government’s determination to support s…
A 10-percent rise in dollar cuts U.S. GDP by 0.5 percent: New York Fed
NEW YORK (Reuters) – A 10 percent increase in the dollar in a quarter would reduce U.S. economic growth by half a percentage point over a year and by another 0.2 point the following year, according to a New York Federal Reserve blog post on Friday.
GE gives rosier 2015 outlook as industrial profits rise
(Reuters) – General Electric Co raised its 2015 outlook for its industrial manufacturing businesses on Friday as it reported a 5 percent increase in its quarterly industrial profits, helped by stronger performance in its power division offsetting weak …
Strong U.S. groundbreaking, building permits boost housing outlook
WASHINGTON, July 17 (Reuters) – U.S. housing starts rebounded strongly in June and building permits surged to a near eight-year high, pointing to a rapidly strengthening housing market.
Deutsche Bank disputes regulator’s Libor report allegations
FRANKFURT (Reuters) – Deutsche Bank has disputed allegations by Germany’s financial watchdog, sources close to the lender said, in its official response to a preliminary report into interest rate manipulation which threatens sanctions against the bank …
Dollar, stocks look set for biggest weekly gains in months
LONDON (Reuters) – The dollar headed for its biggest weekly rise since May on Friday as economic data reinforced expectations of a U.S. interest rate hike this year. European shares steadied on the view that Greece will secure a bailout.
Europe moves to restore funding to Greece after bailout vote
ATHENS (Reuters) – Europe moved to re-open funding to Greece’s stricken economy on Thursday after the parliament in Athens approved a new bailout program in a fractious vote that left the government without a majority.
Samsung scrapes to victory in proxy battle over $8 billion merger
SEOUL (Reuters) – Samsung Group’s founding family on Friday scored a narrow win in a landmark proxy battle, fending off an activist investor opposed to an $8 billion deal that cements its grip as a new generation prepares to take the reins of South Kor…
Exclusive: Toshiba probe finds top executives involved in company-wide scandal
TOKYO (Reuters) – A panel investigating an accounting scandal at Toshiba Corp has found that top executives were involved in improper practices, confirming the institutional nature of the abuses, a person directly involved in the investigation said on …
Google rallies as profit beats forecasts on ad revenue growth
BENGALURU/SAN FRANCISCO (Reuters) – Shares of Google Inc rose nearly 12 percent after the Web search leader’s profit beat forecasts for the first time in the last six quarters, boosted by strong advertising revenue and comments by its new chief financi…
