U.S. housing starts fall; prior month’s data revised higher
WASHINGTON (Reuters) – U.S. housing starts and permits fell in August, but upward revisions to the prior month’s data suggested the housing market continued to gradually improve.
Yellen doesn’t comment on policy at conference on savings
WASHINGTON (Reuters) – Federal Reserve Chair Janet Yellen did not comment on the central bank’s most recent policy decisions or the U.S. economy in pre-recorded remarks to a conference on savings among low-income families on Thursday.
Low take-up for cheap bank credit raises pressure on ECB
FRANKFURT (Reuters) – The European Central Bank saw far less demand than expected on Thursday for its new four-year loans to banks, raising doubts about a stimulus package it hopes will stave off deflation and revive the euro zone economy.
China’s house prices fall further, economic gloom deepens
BEIJING/SHANGHAI (Reuters) – Worries that China’s economy may be slowing further intensified on Thursday as data showed home prices fell for the fourth straight month, adding to expectations that Beijing will need to do more to stimulate activity.
Alibaba cash could fund small spending spree at Yahoo
SAN FRANCISCO/BOSTON (Reuters) – Alibaba Group Holding Ltd’s upcoming public offering will give Yahoo Inc billions of dollars for a potential shopping spree that investors hope will jumpstart its comeback.
Julius Baer CEO says any takeover of bank far off: Bloomberg
ZURICH (Reuters) – The head of Julius Baer, a rumored takeover target for larger rival Credit Suisse, said any purchase of the Swiss private bank was unlikely for the foreseeable future, Bloomberg News reported.
ECB outlines new plan that will give more voting power to bigger states
FRANKFURT (Reuters) – The European Central Bank detailed plans on Thursday for changing the way the euro zone governors vote from next year, curbing smaller economies’ potential influence in favor of big countries, like Germany.
Hyundai Motor’s record $10 billion bid for trophy property alarms investors
SEOUL (Reuters) – Hyundai Motor Group will pay a record $10 billion for the site of its new headquarters in Seoul’s high-end Gangnam district, out-bidding Samsung Electronics Co Ltd and sparking investor concerns that it is wasting cash on a trophy pro…
NYSE to provide operational updates for Alibaba IPO
NEW YORK (Reuters) – The New York Stock Exchange said on Wednesday it will hold an industry conference call to provide operational updates for the Alibaba Group Holding Ltd initial public offering.
Air France pilots strike enters fourth day
PARIS (Reuters) – A pilots strike at Air France stretched into its fourth day on Thursday, with the two sides still at odds in a dispute over cost cuts that has forced the airline to cancel nearly 60 percent of its flights.
