Talks with Greece have gained momentum but still long way from target: IMF
BERLIN (Reuters) – Global lenders’ negotiations with Greece, which have been moving at a crawl recently, have gained some momentum but remained a long way from the finish line, the International Monetary Fund’s European head told a German newspaper.
Asia slips, China stocks erase stimulus-triggered gains
TOKYO (Reuters) – An index of Asian shares slipped on Monday and Chinese stock markets erased earlier sharp gains made after China’s central bank boosted banks’ lending power by reducing their reserve requirements.
VW supervisory board seeks to smooth leadership crisis – report
FRANKFURT (Reuters) – The leaders of Volkswagen’s supervisory board plan to meet soon to try to iron out an effective working relationship between Chairman Ferdinand Piech and Chief Executive Martin Winterkorn amid a leadership crisis at the automaker,…
Morgan Stanley, NY attorney general in $500-million talks to settle probe: WSJ.com
NEW YORK (Reuters) – Morgan Stanley is in discussions to pay $500 million to settle an investigation by New York’s attorney general into whether the Wall Street bank misled investors in taking mortgage bonds that lost value during the financial crisis,…
Japan, U.S. report progress on trade talks, though Tokyo stands tough on rice
TOKYO (Reuters) – Japan and the United States reported progress in top-level trade talks on Sunday that could pave the way for a broader trans-Pacific trade deal, although Tokyo cautioned that a bilateral accord was unlikely in time for a summit next w…
Some banks tried to renege on deals after SNB’s policy U-turn: Bloomberg
(Reuters) – After the Swiss National Bank abandoned its price cap on the franc in January, some dealers such as Bank of America Corp , Barclays Plc and Goldman Sachs Group Inc approached customers about changing some trades, Bloomberg reported, citing …
Greece’s Varoufakis warns of Grexit contagion
MADRID (Reuters) – Greece’s Finance Minister Yanis Varoufakis said in an interview broadcast on Sunday that if Greece were to leave the euro zone, there would be an inevitable contagion effect.
Shanghai GM to spend $16 billion developing new vehicles
SHANGHAI (Reuters) – Shanghai GM, a joint venture between General Motors and China’s SAIC Motor Corp , plans to spend 100 billion yuan ($16 billion) over the next five years developing new vehicles, Shanghai GM President Wang Yongqing said on Sunday.
China makes big cut in bank reserve requirement to fight slowdown
BEIJING (Reuters) – China’s central bank on Sunday cut the amount of cash that banks must hold as reserves, the second industry-wide cut in two months, adding more liquidity to the world’s second-biggest economy to help spur bank lending and combat slo…
Chairman Piech’s grip on Volkswagen weakened by row with CEO
BERLIN/HAMBURG (Reuters) – Volkswagen Chairman Ferdinand Piech’s iron grip on the German carmaker has been severely weakened following a dramatic confrontation with senior board members last week that nearly resulted in a push to oust him, sources told…
