Is cotton the new aluminum? Warehouse queues rise, along with tempers
NEW YORK (Reuters) – Cotton merchants are waiting months to take delivery of fiber from U.S. warehouses, tightening supplies and fueling fears the niche market is in the grip of a storage game that plunged aluminum trading into crisis.
China Vanke says property sector’s ‘golden era’ over, demand outlook solid
DONGGUAN (Reuters) – The days of rapid growth in China’s real estate sector are over, but the government’s urbanization drive will continue to drive demand for the next 15 years, the country’s biggest residential property developer China Vanke Co Ltd s…
China Vanke says property sector’s ‘golden era’ over, demand outlook solid
DONGGUAN (Reuters) – The days of rapid growth in China’s real estate sector are over, but the government’s urbanisation drive will continue to drive demand for the next 15 years, the country’s biggest residential property developer China Vanke Co Ltd s…
Fed’s Lockhart sees growth rebound, no rush to raise rates
BATON ROUGE (Reuters) – The U.S. economy should rebound to a roughly 3 percent annual growth rate after a rocky start to 2014 and put the Federal Reserve on track to raise rates later next year, Atlanta Federal Reserve Bank President Dennis Lockhart sa…
China CNPC sees to invest at least $2 billion in Peru after Petrobras deal
LIMA (Reuters) – The China National Petroleum Corporation (CNPC) expects to invest at least $2 billion in Peru over the next 10 years, after having recently bought Petrobras’ assets in the country, a top CNPC executive told Reuters on Tuesday.
RBS slashes U.S. mortgage business, hundreds of jobs: FT
(Reuters) – Royal Bank of Scotland has become the latest overseas bank to shrink its business in the United States after announcing it would cut its mortgage trading business by two-thirds, the Financial Times reported on Tuesday.
Nike and Adidas get personal in battle over soccer World Cup
BERLIN (Reuters) – U.S. sportswear group Nike is banking on its sponsorship of more of the world’s best-known soccer stars than Adidas in its battle to overtake the German firm as the sport’s top-selling brand at its World Cup this summer.
Pilgrim’s bid for Hillshire puts Pinnacle deal in peril
(Reuters) – Pilgrim’s Pride Corp on Tuesday offered to buy Hillshire Brands Co in an all-cash deal valued at $6.4 billion, as the world’s second-largest chicken processor seeks to expand its protein footprint with Hillshire’s sausages and lunch meats.
Pimco rehires McCulley, this time as chief economist and public face
NEW YORK (Reuters) – Pimco said on Tuesday it has rehired Paul McCulley, who was previously a portfolio manager and the bond giant’s top analyst of the U.S. Federal Reserve’s policies, in the latest management change after the departure of the firm’s c…
Eliminating blight could cost bankrupt Detroit more than $850 million
WASHINGTON (Reuters) – Wiping out the abandoned and decrepit buildings that are the hallmark of bankrupt Detroit could cost nearly $1 billion, and more over time, according to a report released on Tuesday by a special task force appointed by President …
