JPMorgan builds up apartment-loan leader from WaMu rubble
NEW YORK (Reuters) – In September 2008, JPMorgan Chase & Co executives sifted through the rubble of Washington Mutual, the failed home loan bank that they had just won in a U.S. government auction.
LVMH’s Donna Karan quits as designer of own name brand
PARIS (Reuters) – Donna Karan has resigned as chief designer of the fashion brand she founded and sold to French luxury goods owner LVMH as the group opts to concentrate on its more accessible DKNY line.
U.S. construction spending rises to 6-1/2-year-high
WASHINGTON (Reuters) – U.S. construction spending rose in May to its highest level in just over 6-1/2-years as outlays increased across the board, the latest sign of momentum
U.S. factory activity eases; slowest pace since October 2013: Markit
NEW YORK (Reuters) – Growth in the U.S. manufacturing sector eased in June, hitting its slowest pace since October 2013, according to an industry report released on Wednesday.
Fed’s Brainard says Fed examining possible drop in market liquidity
WASHINGTON (Reuters) – The U.S. Federal Reserve has launched a study to see if U.S. Treasury markets are being hampered by a lack of liquidity, an issue some investors and others have cited as a potential risk to financial stability, Fed board member L…
Red-hot fuel demand can’t shore up the oil price alone
LONDON (Reuters) – Sales of transport fuels have exceeded all expectations this year, making demand from reviving economies the mantra of bulls who say the oil price is well on the mend.
Special Report: How Greece went bust
ATHENS (Reuters) – It was a small room with a plain wooden table a few feet wide. The Greek Prime Minister Alexis Tsipras sat on one side, along with a translator and Angela Merkel, the German chancellor. On the other sat President Francois Hollande of…
Credit Suisse needs strong balance sheet, new CEO says
ZURICH/BRUSSELS (Reuters) – Credit Suisse’s new chief executive told staff in a memo on Wednesday the Swiss bank needed a strong balance sheet to help it through rough times and the discipline to decide where it wanted to invest.
Fiat Chrysler U.S. sales rise 8 percent on strong Jeep sales
DETROIT (Reuters) – Fiat Chrysler Automobiles U.S. June auto sales rose 8 percent from a year ago, boosted by the continued strength of its Jeep SUV brand.
General Mills profit halves due to $260 million impairment charge
(Reuters) – General Mills Inc , the maker of Cheerios cereal and Betty Crocker cake mixes, said fourth-quarter profit halved as it recorded a $260 million charge to write down the value of one of its frozen and canned vegetable businesses.
