Cheap energy pulls down euro zone producer prices drop in July
BRUSSELS (Reuters) – A drop in the highly volatile energy prices depressed euro zone producer prices in July as expected, underlining disinflationary pressures in the single currency area ahead of the European Central Bank’s monetary policy meeting on …
German August car sales down about 0.5 percent: source
FRANKFURT (Reuters) – Sales of new cars in Germany, Europe’s biggest auto market, declined about 0.5 percent in August, an industry source familiar with the matter told Reuters on Tuesday.
McDonald’s to boost China supplier audits after food safety scandal
SHANGHAI (Reuters) – McDonald’s Corp will increase the number of audits it conducts of suppliers in China, the firm said on Tuesday, after a food scandal in July dented China sales at the U.S. fast food chain and rival Yum Brands Inc.
Basel III deposit challenge looms over Islamic banks
(Reuters) – As banks around the world gear up to meet tough Basel III regulatory standards, Islamic lenders face a source of uncertainty that could prove expensive for them: how regulators will treat their deposits.
Eric Cantor to join investment bank Moelis as vice chairman
(Reuters) – Former U.S. House Majority Leader Eric Cantor will join investment bank Moelis & Co as vice chairman and managing director, the company said, adding that Cantor will also be elected to its board.
China won’t force foreign auto parts makers to form local JVs: EU trade body
SHANGHAI (Reuters) – The European trade body in China said Beijing is not planning to force foreign auto parts suppliers operating in the country to form local joint ventures, dismissing a report last week that had stirred concern among European firms….
U.S. inflation bonds back in vogue
NEW YORK (Reuters) – U.S. investors are back in the hunt for inflation protection for the first time in two years as rising housing costs – particularly for rent – suggest inflation may finally be waking from its post-recession slumber.
China’s Li Ning stumbles from gold medal position to no man’s land
HONG KONG (Reuters) – In 2010, former Chinese gymnast Li Ning led a surging $4 billion sportswear business, a gold-medal pinnacle echoing his victories at the 1984 Olympic Games.
Investors look past Ukraine, focus on ECB
LONDON (Reuters) – World markets advanced on Monday despite the conflict in Ukraine, focusing on whether the European Central Bank will announce plans for economic stimulus when it meets this week.
Hollande, Draghi agree on threat of deflation: official
PARIS (Reuters) – French President Francois Hollande and European Central Bank chief Mario Draghi agreed on Monday that deflation and weak growth were threatening the European Union’s economy, an official in the president’s office said.
