Growth fears hit global stocks, investors eye Fed and Draghi
LONDON (Reuters) – World stocks fell on Wednesday as a decline in Chinese inflation and weaker European industrial data combined to suggest global growth may be slowing, eclipsing a positive start to the U.S. earnings season.
Apple loses China patent case, separate suit against Apple continues
BEIJING (Reuters) – A Beijing court has ruled against Apple Inc by upholding the validity of a patent held by a Chinese company, clearing the way for the Chinese company to continue its own case against Apple for infringing intellectual property rights…
Retailers swallow online food cost to lock in shoppers
BERLIN (Reuters) – Big retailers are taking a calculated hit to margins to invest in online grocery operations, in the hope they can persuade consumers to add more profitable items like clothes and computers to their orders of fruit and vegetables.
BOJ may slightly cut economic forecast, policy seen steady
TOKYO (Reuters) – The Bank of Japan may trim its economic growth forecast for the current year next week, sources familiar with its thinking said, reflecting soft exports and a bigger-than-expected slump in household spending after a sales tax hike in …
GM Korea workers approve strike as wage talks stall
SEOUL (Reuters) – General Motors’ South Korean workers on Wednesday voted to go on strike over salaries and production volume, signalling tough annual wage talks for automakers already grappling with falling earnings due to the stronger won.
Carlos Slim bows to Mexico telecoms reform
MEXICO CITY (Reuters) – Billionaire Carlos Slim’s America Movil AMXL.MX said on Tuesday it is ready to divest assets in an unprecedented step to cut its market share in Mexican telecoms below 50 percent and escape the burden of tougher regulations.
Citigroup may pay $7 billion to resolve U.S. mortgage probes: source
NEW YORK/WASHINGTON (Reuters) – Citigroup Inc is close to paying about $7 billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis, a source familiar w…
Democrats grapple with own divisions over renewing Ex-Im Bank
WASHINGTON (Reuters) – Democrats are struggling with their own differences over legislation to renew the Export-Import Bank’s charter, an issue that has long been a source of tension between Tea Party and pro-business Republicans.
Pfizer wins dismissal of U.S. investor class action ahead of trial
NEW YORK (Reuters) – Pfizer Inc won the dismissal Tuesday of a long-running shareholder class action accusing the company of misleading investors about the safety of its Celebrex and Bextra pain-relieving drugs.
Ex-Carter’s executives, NY fund manager get prison for insider trading
(Reuters) – Two former executives at Carter’s Inc and a New York hedge fund manager received prison sentences on Tuesday for engaging in an insider trading conspiracy involving the children’s clothing company’s stock.
