Japan April retail sales rebound, ease pressure on BOJ
TOKYO (Reuters) – Japan’s retail sales rebounded modestly in the year to April after three straight months of falls, bolstering the central bank’s case that consumer spending is reviving to underpin a steady economic recovery.
IMF’s Lagarde says still much work to do in Greek debt talks
DRESDEN, Germany (Reuters) – The head of the International Monetary Fund (IMF) said in a German television interview on Thursday that there was still a lot of work to do before Greece and its international lenders could clinch a cash-for-reforms deal.
ECB’s Nowotny says no to loosening funding for Greece now
FRANKFURT (Reuters) – A European Central Bank policymaker played down the prospects for an immediate loosening of funding for cash-strapped Greece, saying that when it came to accepting the country’s bonds as security for central bank credit, the answe…
OPEC sees rivals boosting oil output despite weak prices
LONDON (Reuters) – The North American oil boom is proving resilient despite low oil prices, producer group OPEC said in its biggest and most detailed report this year, suggesting the global oil glut could persist for another two years.
Technology replaces schmoozing: the future of private banking
ZURICH (Reuters) – No longer is schmoozing over long lunches and fine wines enough; Swiss private bankers are turning to video games and virtual reality to attract a new generation of skeptical clients and see off digital rivals.
Millennial ‘NOwners’ follow Uber with new fashion trading model
NEW YORK (Reuters) – Allison Armour loves fashion, but doesn’t need to keep it in her closet.
Star managers battered by rocky ride in yields, currencies
NEW YORK (Reuters) – Some of the biggest names in the investment world have been whipsawed by the recent rise in global yields and the strength in the euro against the dollar, with investors bracing for more sharp moves later this year stemming from ce…
Tech, healthcare lead Wall St. higher; Nasdaq hits record
(Reuters) – U.S. stocks ended sharply higher on Wednesday and the Nasdaq logged a record high close, led by a rebound in technology and healthcare stocks and optimism that Greece would avoid defaulting on its debt.
U.S. judge puts GM ignition-switch suits on ice, for now
NEW YORK (Reuters) – A U.S. bankruptcy judge on Wednesday put on hold dozens of lawsuits accusing General Motors Co of concealing an ignition-switch defect while the plaintiffs in those cases appeal an earlier ruling that found their cases were barred….
EU officials dismiss Greek statement on aid agreement being drafted
ATHENS (Reuters) – Greece’s government on Wednesday said it is starting to draft an agreement with creditors that would pave the way for aid, but European officials quickly dismissed that as wishful thinking.
