New York to form first U.S. state Ex-Im bank: Cuomo
NEW YORK (Reuters) – New York plans to form the first U.S. state version of the federal Export-Import Bank to help businesses expand overseas, Governor Andrew Cuomo said on Tuesday, in a vote of confidence in a credit agency that critics have decried a…
Wal-Mart raises healthcare costs, cuts benefits for some part-timers
(Reuters) – Wal-Mart Stores Inc, the biggest U.S. private sector employer, said on Tuesday that its 1.3 million workers would have to pay more for healthcare and it would end benefits for some part-time staff in a move that could prompt other companies…
Wall St. falls 1 percent on global growth concerns
NEW YORK (Reuters) – U.S. stocks ended sharply lower on Tuesday, with major indexes falling 1 percent in heavy trading, as weak data out of Germany raised concerns about the strength of global growth ahead of the start of earnings season.
Prolonged German downturn could prompt stimulus rethink
BERLIN (Reuters) – The last thing the faltering European economy would appear to need right now is a sudden downturn in Germany, hitherto the bloc’s pillar of strength.
Ex-U.S. Treasury Secretary Geithner defends AIG bailout
WASHINGTON (Reuters) – Former U.S. Treasury Secretary Timothy Geithner on Tuesday defended the government’s rescue of American International Group Inc in September 2008, saying it was necessary to prevent the country from plunging into a second Great D…
A thousand miles apart, Janus bond chief Smith embraces Gross
BOSTON/NEW YORK (Reuters) – Before hiring star bond fund manager Bill Gross last month, Janus Capital Group Inc Chief Executive Dick Weil took care to check with the bond chief he already had, Gibson Smith.
Rich shoppers seen boosting U.S. holidays, deep discounts likely
CHICAGO (Reuters) – Wealthier U.S. shoppers are likely to drive the most bountiful holiday season in three years as retailers slash prices to cope with tighter budgets, analysts said on Tuesday, as a new survey showed 2014 retail sales rising 4.1 perce…
U.S. consumer credit posts smallest gain since November
WASHINGTON (Reuters) – U.S. consumer credit increased by the smallest amount since November and growth for the prior month was revised lower, giving a cautious signal about the pace of economic expansion.
IMF cuts growth outlook, warns on euro zone, Japan
WASHINGTON (Reuters) – The International Monetary Fund cut its global economic growth forecasts for the third time this year on Tuesday, warning of weaker growth in core euro zone countries, Japan and big emerging markets like Brazil.
Goldman Sachs ordered to pay Libyan fund’s legal costs
LONDON (Reuters) – Goldman Sachs has been ordered to pay the Libyan Investment Authority (LIA) 200,000 pounds ($321,820) in legal costs as part of a lawsuit brought by the fund over $1 billion in trades that ended up worthless.
