Greece’s Varoufakis says debt swap fills Draghi’s ‘soul with fear’
ATHENS (Reuters) – Repayment of what Greece owes to the European Central Bank should be pushed into the future, but it is not an option because it fills ECB chief Mario Draghi’s “soul with fear”, Greece’s finance minister said on Thursday.
U.S. producer prices resume downward trend in April
WASHINGTON, (Reuters) – U.S. producer prices resumed their downward trend in April as the cost of energy fell and a strong dollar kept underlying inflation pressures benign, supporting views that the Federal Reserve will only raise interest rates later…
GM to invest $1 billion in renovating Michigan tech center
(Reuters) – General Motors Co said it will invest $1 billion to expand and renovate its sprawling 60-year-old technical center in Warren, Michigan.
Sharp gains $1.9 billion bailout but restructuring steps disappoint
TOKYO (Reuters) – Japan’s Sharp Corp said it had secured a $1.9 billion bailout, its second major bank-led rescue in three years, after falling deep into the red as its smartphone display business was battered by competition from Asian rivals.
Euro at three-month high, bond yields key
LONDON (Reuters) – The euro hit a three-month high against the dollar on Thursday, drawing further support from a sustained surge in euro zone government bond yields that again kept global stock markets on the defensive.
U.S. companies rush to insulate themselves against Venezuela’s currency, economic woes
CARACAS/NEW YORK (Reuters) – A growing number of U.S. companies say they can’t cope with Venezuela’s sinking bolivar currency, prompting some of them to remove their operations in the South American nation from their consolidated financial reports. In other cases, they have exited the country altogether through a sale or by simply shuttering their businesses there.
IDB puts Islamic finance on AIIB drawing board
SARAJEVO (Reuters) – The Islamic Development Bank (IDB) is in discussions with Chinese officials to study the use of Islamic financing in the planned Asian Infrastructure Investment Bank (AIIB), the head of the Jeddah-based multilateral lender told Reu…
Exclusive: China set to delay maiden flight of C919 commercial jet – sources
SINGAPORE (Reuters) – The maiden flight of China’s only homegrown commercial jet, the Comac C919, is behind schedule and delivery could be pushed back as much as two years, sources familiar with the program said, dealing a blow to its push to challenge…
J.C. Penney posts narrower first quarter loss, lifts margin target
(Reuters) – J.C. Penney Co Inc reported a smaller-than-expected quarterly loss on the back of solid demand for apparel and women’s handbags, and lifted its annual margin target in a sign the department store chain is getting a better grip on costs.
Facebook raises minimum pay for contractors to $15 per hour
NEW YORK (Reuters) – Facebook raised wages for its contract workers, such as cafeteria staff and janitors, to a minimum of $15 per hour amid rising tension over the wage gap between the technology sector’s elite and the lower-paid workers.
