WTO failure points to fragmented future for global trade
GENEVA (Reuters) – India has dealt a potentially fatal blow to the World Trade Organization’s hopes of modernizing the rules of global commerce and remaining the central forum for multilateral trade deals.
Upped KKR offer for Australia’s Treasury Wine raises bidding war prospect
SYDNEY (Reuters) – Australia’s Treasury Wine Estates is opening its books to Kohlberg Kravis Roberts & Co LP after the private equity giant hiked its takeover offer to $3.15 billion, raising the prospect of a bidding war for the world’s No.2 winemaker.
Armed with new technology, oil drillers revisit Gulf of Mexico
(Reuters) – Advances in drilling technology are reviving the prospects of oil companies in shallow parts of the Gulf of Mexico, helping to squeeze more from older fields while the U.S. shale bonanza lures others onshore.
HSBC warns of growing risk aversion as profit drops
LONDON (Reuters) – Europe’s largest bank HSBC warned that regulators’ zeal to punish wrongdoing was putting its staff off taking reasonable business risks, as it reported a 12 percent drop in first-half profit.
GE to invest $2 billion to boost African energy, infrastructure
WASHINGTON (Reuters) – General Electric Co on Monday pledged to invest $2 billion in Africa by 2018 to boost infrastructure, worker skills and access to energy, an announcement timed to coincide with a U.S. summit meeting of nearly 50 African leaders.
U.S. chicken farmers latest caught in Russia sanction crosshairs
(Reuters) – Russia’s threatened ban on U.S. poultry imports, the latest move in a sanctions skirmish over Moscow’s support of rebels in Ukraine, has agriculture companies alert to the risks of a conflict that’s already roiled trading of crops ranging f…
Michael Kors posts another quarter of sizzling growth
(Reuters) – Michael Kors Holdings Ltd reported another quarter of blistering sales growth as demand for its handbags and watches surged in North America.
European bank relief lifts stocks, lowers bond yields
LONDON (Reuters) – European stocks rose on Monday and bond yields fell on a banking sector rebound after Portugal prevented the collapse of one of its biggest lenders and shares in the continent’s largest bank jumped in the wake of its latest earnings …
GE’s Immelt says Ex-Im bank closure would hurt US-Africa trade: FT
(Reuters) – Trade ties between the United States and Africa will be hit if the U.S. Congress decides to close the Export-Import bank, the Financial Times reported General Electric Co Chief Executive Jeff Immelt as saying.
China regulator says Microsoft should not obstruct anti-trust probe
BEIJING (Reuters) – Microsoft Corp should not obstruct an anti-trust investigation by Chinese regulators, the State Administration for Industry and Commerce (SAIC) said on Monday, the latest shot fired by China’s government at the U.S. software giant.
