BRICS set up bank to counter Western hold on global finances
FORTALEZA Brazil (Reuters) – Leaders of the BRICS emerging market nations launched a $100 billion development bank and a currency reserve pool on Tuesday in their first concrete step toward reshaping the Western-dominated international financial system…
Europe’s leaders meet to choose candidates for top EU jobs
BRUSSELS (Reuters) – European Union leaders meet on Wednesday to pick the bloc’s new foreign policy chief after choosing Jean-Claude Juncker to head the executive European Commission, but it may take some weeks before other top EU jobs are finally carv…
Yahoo’s long goodbye with Alibaba takes heat off Mayer
SAN FRANCISCO (Reuters) – Yahoo Inc cannot seem to part ways with Alibaba. And with Yahoo’s business continuing to deteriorate, some Wall Street analysts say it is hard to blame the company.
S&P open to paying up to $1 billion to settle DOJ lawsuit: WSJ
(Reuters) – Standard & Poor’s Ratings Services decided to settle a pending lawsuit with the U.S. Department of Justice (DOJ) and is open to paying about $1 billion to settle it, the Wall Street Journal reported citing people familiar with the matter.
Yahoo to keep more of Alibaba, share half of IPO proceeds
SAN FRANCISCO (Reuters) – Yahoo Inc pledged to pay its shareholders at least half the proceeds from Alibaba Group Holding Ltd’s mega-IPO this fall and plans to keep a larger stake in the Chinese e-commerce company than expected.
U.S. court revives BP retirement-plan lawsuit
(Reuters) – A U.S. appeals court on Tuesday revived a lawsuit in which participants in four BP Plc employee retirement savings plans claimed they were deceived into buying and holding BP stock before and after the 2010 Deepwater Horizon disaster.
Intel says worst is over for battered PC industry
SAN FRANCISCO (Reuters) – Intel Corp believes the worst is over for a personal computer industry hammered by the mobile revolution.
JPMorgan pulls back from mortgage lending on foreclosure worries
NEW YORK (Reuters) – JPMorgan Chase & Co, the second-largest U.S. mortgage lender, is backing away from making home loans to less creditworthy borrowers after losing faith in its ability to recover much money from foreclosing on homes, even with government guarantees.
S&P 500, Nasdaq dip on Yellen’s comments; Apple up late
NEW YORK (Reuters) – U.S. stocks pulled back on Tuesday after Federal Reserve Chair Janet Yellen and her fellow Fed policymakers raised concerns about “substantially stretched valuations” in some sectors.
BRICS set up bank to counter Western hold on global finances
FORTALEZA Brazil (Reuters) – Leaders of the BRICS emerging market nations launched a $100 billion development bank and a currency reserve pool on Tuesday in their first concrete step toward reshaping the Western-dominated international financial system…
