Fed hosts meeting with banks, regulators on LIBOR alternatives
WASHINGTON (Reuters) – The Federal Reserve said it is hosting a meeting on Monday with banks and regulators to discuss the development of a reference rate alternative to LIBOR, the London interbank rate that was at the center of a global rigging scanda…
Pfizer dampens Astra bid hopes with German Merck cancer deal
FRANKFURT/LONDON (Reuters) – Pfizer dampened investors’ expectations of a renewed bid for AstraZeneca on Monday by signing a major cancer drug deal with Germany’s Merck KGaA , reducing the U.S. firm’s need for Astra’s products.
Japan’s recessionary slide hits stocks, oil
LONDON (Reuters) – Data showing Japan slipped into recession in the third quarter raised concerns on Monday about global economic health, hitting stocks and the price of oil.
H&M’s October sales up 14 percent, above expectations
STOCKHOLM (Reuters) – Hennes & Mauritz , the world’s second-biggest fashion retailer, posted on Monday a 14 percent rise in October sales from a year ago, beating forecasts.
China says FTA with South Korea may be effective in 2015
BEIJING (Reuters) – A free trade agreement between China and South Korea should be effective in the second-half of next year if all goes well, a top commerce ministry official said on Monday, ending negotiations that started in 2012.
Toray in expanded $8.6 billion carbon fiber deal with Boeing
TOKYO (Reuters) – Japan’s Toray Industries said it will be the sole supplier of carbon fiber for Boeing Co’s 777X passenger jet in addition to the 787 Dreamliner and expects orders to exceed $8.6 billion for both planes.
Money flows to mainland as landmark Hong Kong-Shanghai stock link opens
SHANGHAI/HONG KONG (Reuters) – International buyers snapped up Chinese stocks on Monday at the debut of an exchange link that allows Hong Kong and Shanghai investors to trade shares on each other’s bourses, a major step towards opening China’s tightly …
Ford: Mustang driver injured by air bag fragment in North Carolina crash
DETROIT (Reuters) – Ford Motor Co said on Sunday night it was cooperating with U.S. safety regulators investigating a report the driver of a 2007 Ford Mustang was injured in August by a metal fragment from the car’s air bag.
Canada’s Onex leads bidding for packaging firm SIG: Bloomberg
TORONTO (Reuters) – Canadian buyout firm Onex Corp is leading the bidding for Swiss juice-box maker SIG Combibloc Group, Bloomberg reported on Sunday, citing unnamed people familiar with the matter.
Forex fines show still much to do on UK banking reform: lawmakers
LONDON (Reuters) – An international settlement over allegations of manipulation in the foreign exchange market shows reform of Britain’s banking system is still badly needed and must not be diluted, a group of British lawmakers said on Monday.
