U.S. consumer spending pauses, but rising confidence offers hope
WASHINGTON (Reuters) – U.S. consumer spending fell in July for the first time in six months, but confidence among households hit a seven-year high in August, suggesting the retrenchment would be temporary.
Sprint grabs lifeline with rural U.S. roaming deals
WASHINGTON (Reuters) – With plans for a T-Mobile US Inc merger in tatters, Sprint Corp is expanding a roaming program with rural cellphone companies that could provide a much-needed way for the debt-laden wireless carrier to cheaply increase its footpr…
Tesco slashes dividend after second profit warning in two months
LONDON (Reuters) – Tesco will slash its dividend and investment spending to give its new boss more firepower to rebuild Britain’s biggest retailer, after a second profit warning in two months showed the scale of the task he faces.
U.S. consumer sentiment rises in final August reading
NEW YORK (Reuters) – U.S. consumer sentiment rose in August, while an index of current economic conditions hit its highest since July 2007, a survey released on Friday showed.
McDonald’s says 12 Russian branches temporarily closed
MOSCOW (Reuters) – McDonald’s said on Friday that a total of 12 of its branches in Russia had been temporarily closed over the state food safety regulator’s allegations of sanitary violations.
Fiat signals Chrysler merger on track
MILAN (Reuters) – Fiat signaled its merger with U.S. affiliate Chrysler was on track on Friday as a tally of shareholders suggested most had chosen not to exercise an option that could derail the plan, a vital step in the Italian carmaker’s turnaround …
Disappearing euro zone inflation set to heighten ECB concerns
BRUSSELS/FRANKFURT (Reuters) – Euro zone inflation dropped to a fresh five-year low in August, data showed on Friday, something likely to concern the European Central Bank but not force it into immediate policy action.
SoftBank’s first Sony smartphone deal takes aim at U.S. market
TOKYO (Reuters) – Japan’s SoftBank Corp and its U.S. mobile carrier Sprint Corp will offer a Sony smartphone for the first time, sources with knowledge of the matter said, as the two technology titans confront daunting challenges in the U.S. market.
European investors cut stocks, eyeing Fed moves, Ukraine tension
LONDON (Reuters) – European asset managers cut their exposure to stocks in August as expectations of rate hikes in the United States pushed many to book profits while shares remained near record highs, a monthly poll shows.
Euro lifts, shares drift as ECB easing bets wane
LONDON (Reuters) – The euro lifted off its lows and the region’s shares sagged on Friday as a new five-year low in euro zone inflation was viewed as not extreme enough to force the European Central Bank back into its increasingly bare policy cupboard.
