ECB sees growth faltering as it presses on with QE
FRANKFURT (Reuters) – Europe has lost some growth momentum and bond market volatility is here to stay, the European Central Bank said on Wednesday, pledging to see through its money printing scheme until its job of lifting the economy is done.
U.S. private sector adds 201,000 jobs in May: ADP
NEW YORK (Reuters) – U.S. private employers added 201,000 jobs in May, compared with a downwardly revised 165,000 jobs in April which were the fewest since January 2014, a report by a payrolls processor showed on Wednesday.
VW does not need chairman until new structure is set: labor chief
WOLFSBURG, Germany (Reuters) – Volkswagen has no need to install a permanent chairman until a new corporate structure has been set, the company’s powerful labor chief told Reuters, adding it should keep expanding with new products like a full-sized pic…
Bund yields inch higher, euro holds ahead of ECB
LONDON (Reuters) – German debt yields added to their biggest jump in almost three years and the euro held on to its gains on Wednesday, as investors waited to hear the ECB’s view of a turbulent run for markets and its hopes for a Greek aid deal.
Pimco shifts focus to capital preservation, likes Aussie bonds
SINGAPORE (Reuters) – Bond fund manager Pimco has turned to Australian government bonds and short-term Japanese government debt as it looks not only for yield, but to protect its capital in an uncertain global fixed-income environment.
Deutsche Bank partners with Microsoft, HCL, IBM in tech lab launch
FRANKFURT (Reuters) – Deutsche Bank will launch three innovation labs this year, partnering with big development firms to speed creation of financial technology for its own uses and will spend up to 1 billion euros ($1.11 billion) on digital developmen…
Investors piling into volatility funds bet on more anxiety ahead
NEW YORK (Reuters) – The U.S. stock market has been strangely calm this year, much to the chagrin of investors who have been betting billions on volatility.
Wall Street ends down; utilities fall as bond yields jump
(Reuters) – U.S. stocks eased on Tuesday as a jump in bond yields hit utilities and other top dividend payers, but energy gains and optimism Greece is near a deal with creditors limited losses.
Takata will ‘rapidly’ cut production of volatile air bag chemical
WASHINGTON/DETROIT (Reuters) – Takata Corp will “rapidly” reduce production of a volatile chemical that has been linked to ruptured air bag inflators, a company executive told U.S. lawmakers on Tuesday.
Exclusive: Teva poised to raise its stake in Mylan – sources
(Reuters) – Teva Pharmaceutical Industries Ltd is looking to buy more shares in Mylan NV , positioning itself for a possible legal challenge to the generics drugmaker that has spurned its takeover bid, people familiar with the matter said.
