Closure of Alexandria trade would cost Monte Paschi 1 billion euros
SIENA (Reuters) – The European Central Bank has told Monte dei Paschi di Siena to close a loss-making derivatives trade with Nomura by late July, a move that would generate a pre-tax loss of 1 billion euros ($1.06 billion), according to a letter sent b…
U.S. fast-food workers mark Tax Day demanding higher wages
NEW YORK (Reuters) – Fast-food workers rallied in U.S. cities on Wednesday to demand higher pay, using the April 15 deadline for filing tax returns to publicize their claim that they cannot survive on the hourly wages paid by many U.S. corporations.
China March FDI robust at $12.4 billion, outbound flows up 29.6 percent in first-quarter
SHANGHAI (Reuters) – Foreign direct investment (FDI) into China rose 2.2 percent on the year in March, while outbound flows posted a milder rise, as foreign corporate investors remain undeterred by China’s weakening domestic economic performance.
Bernanke to advise hedge fund Citadel: NYT
(Reuters) – Ben Bernanke, former chairman of the U.S. Federal Reserve, has agreed to become a senior adviser to Citadel Investment Group, a $25 billion hedge fund founded by billionaire investor Kenneth Griffin, the New York Times reported on Thursday….
Carlyle Group names ex-Wal-Mart CEO Duke as operating executive: WSJ
(Reuters) – Carlyle Group LP has enlisted Mike Duke, former chief executive of Wal-Mart Stores Inc , to the executive team that the asset management firm taps for advise on deals, the Wall Street Journal reported.
Electric cars won’t spread even with rapid chargers: Toyota engineer
YOKOHAMA, Japan (Reuters) – Battery-powered electric vehicles don’t have a practical future as a long-range alternative to conventional cars even if technological breakthroughs allow them to be charged quickly, a top engineer at Toyota Motor Corp said …
Unilever first-quarter sales better than expected
LONDON (Reuters) – Unilever reported better-than-expected sales for the first quarter on Thursday, showing improvement from the hammering it took last year from weak emerging markets including a slowdown in China.
McDonald’s Japan sees wider losses this year after food scandals
TOKYO (Reuters) – The Japanese unit of McDonald’s Corp said on Thursday it expects its losses to widen this year as it struggles to bring back customers after a series of food safety scandals.
Yahoo and Facebook shares outperform Google in Frankfurt
LONDON (Reuters) – The Frankfurt-listed shares of Internet companies Yahoo and Facebook outperformed those of rival Google , after media reports that Google would face anti-trust action from the European Union.
Japan’s Sharp, banks near $1.7 billion bailout deal: source
TOKYO (Reuters) – Japan’s Sharp Corp and its main banks are set to agree on Thursday to a $1.7 billion rescue and restructuring plan that will likely include a promise to split off its ailing smartphone display business, a person involved in the discus…
