Euro left reeling after ECB’s liquidity splurge
LONDON (Reuters) – The euro was deep in the red on Friday, having suffered its steepest fall in three years after the European Central Bank stunned markets by cutting interest rates and embarking on a trillion-euro asset-buying binge.
Starbucks plans new store designs – upscale in Seattle, speedy in New York
(Reuters) – Starbucks Corp on Friday announced two new types of stores aimed at capturing the growing demand for upscale reserve coffee and a separate test of an “express” store in Manhattan offering speedy service in a city where a “New York minute” i…
Japan PM’s stance on next tax hike ‘utterly neutral’: econmin
TOKYO (Reuters) – Prime Minister Shinzo Abe stands “utterly neutral” on whether to decide in December to raise the sales tax again next year but he will be very cautious in his decision given the potential blow to the economy, Japan’s economy minister …
Mercedes-Benz passenger car sales jump 9.7 percent in August
FRANKFURT (Reuters) – Daimler sold 118,887 Mercedes-Benz passenger cars in August, a 9.7 percent improvement on the year thanks to small car sales and record deliveries in China and the United States.
Nigeria nurtures its once-unloved cocoa industry as prices flourish
AKURE Nigeria (Reuters) – College graduate Omatayo Adeniyi stands in a humid tropical forest of southwest Nigeria and explains why he chose cocoa farming over a white collar job in the city.
As cocoa price soars, chocolate makers devour substitutes
SINGAPORE/NEW YORK Sep 5 (Reuters) – Chocolate makers in the fast-growing Asian market are replacing a bigger proportion of cocoa butter, which gives confectionery its melt-in-the-mouth texture, with cheaper palm oil-based alternatives.
Apple to add security alerts for iCloud users, says Cook: WSJ
(Reuters) – Apple Inc is planning additional steps to keep hackers out of user accounts in the face of the recent celebrity photo scandal and will aggressively encourage users to take stricter security measures, CEO Tim cook told the Wall Street Journa…
U.S. interest rates are too high: Fed’s Kocherlakota
HELENA Mont. (Reuters) – A top Federal Reserve official on Thursday said he believes U.S. interest rates are too high, and had no “good answer” when asked why the Fed is reducing its efforts to push borrowing costs down.
BP ‘grossly negligent’ in 2010 U.S. spill, fines could be $18 billion
HOUSTON/NEW YORK (Reuters) – A U.S. judge has decided that BP Plc was “grossly negligent” and “reckless” in the Gulf of Mexico oil spill four years ago, a ruling that could add nearly $18 billion in fines to more than $42 billion in charges the company took for the worst offshore environmental disaster in U.S. history.
Fed’s Powell says alternative to Libor needed as soon as practical
WASHINGTON (Reuters) – The U.S. Federal Reserve will accelerate its search for a substitute to the Libor benchmark interest rate to stave off what would be “a horrible mess” if the current system collapses with no alternative, Fed Governor Jerome Powel…
