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.
U.S. small business confidence edges lower, still near six-year high
WASHINGTON (Reuters) – U.S. small business sentiment weakened in June, pulling back from a six-year high because firms felt less confident the economy would improve in the coming months.
India says private funds will help rail system, but details unavailable
NEW DELHI (Reuters) – Prime Minister Narendra Modi’s new government has nudged up spending on India’s wobbly railways and will seek private funding for new projects, the rail minister said without giving details on how he will attract investors.
Europe’s stocks, periphery bonds dip amid bank fines, dim QE hopes
LONDON (Reuters) – Europe’s main stock indices and lower-rated government bonds slipped on Tuesday amid reports of new U.S. fines for banks and dimming prospects the European Central Bank will launch an asset purchase program.
M&S hails womenswear progress as new website holds back sales
LONDON (Reuters) – British retailer Marks & Spencer reported a small rise in sales of its flagship womenswear on Tuesday, saying it was a sign years of investment were starting to pay off despite a 12th consecutive quarterly drop in overall general merchandise sales.
Car maker Tesla sued in China for trademark infringement
SHANGHAI (Reuters) – U.S. electric car maker Tesla Motors Inc is being sued in China for trademark infringement, a surprise development that casts a shadow over CEO Elon Musk’s ambition to expand rapidly in the world’s biggest auto market.
China says GSK-linked trial being handled according to law
BEIJING (Reuters) – The trial of a couple arrested last year following work they did for British drugmaker GlaxoSmithKline PLC in China will be handled according to the law, China’s foreign ministry said on Tuesday, brushing off U.S. concern about the …
Ambition, investor greed fuel rise and fall of Dubai’s Arabtec
ABU DHABI/DUBAI (Reuters) – From a 59-storey tower in Abu Dhabi, the offices of Arabtec look out over the Gulf towards Middle Eastern and Asian nations where the construction firm hopes to expand. It is a symbol of the company’s ambitions – and the way…
Vatican bank clean-up and account closures wipe out profit
VATICAN CITY (Reuters) – The Vatican bank has blocked the accounts of more than 2,000 clients and ended some 3,000 “customer relationships” as part of a clean-up process that nearly wiped out its profit, its 2013 financial statement showed on Tuesday.
Europe’s stocks, bonds dip as bank fines mount, QE hopes dim
LONDON (Reuters) – Europe’s main stock indices and bond benchmarks dipped on Tuesday amid reports of new U.S. fines on banks and dimming prospects for an asset purchase programme from the European Central Bank.
