Credit Suisse in talks to pay $1.6 billion to resolve U.S. tax probe: source
WASHINGTON/ZURICH (Reuters) – Credit Suisse Group AG is in talks with the U.S. Justice Department to pay as much as $1.6 billion to resolve an investigation into the bank’s role in helping Americans evade U.S. taxes, a person familiar with the matter s…
Barclays earnings hit by sharp fall in investment bank
LONDON (Reuters) – Barclays Plc said a collapse in investment bank revenue had hit first-quarter profit and was still hurting income in April, throwing a spotlight on an overhaul of the flagging business due to be unveiled in two days by the British ba…
Wells Fargo releases two new credit cards aimed at high spenders
(Reuters) – Wells Fargo & Co, trying to increase its credit card market position, said it is issuing two new credit cards through a partnership with American Express Co in its latest effort to woo more wealthy customers.
France, Germany push for ‘Robin Hood’ tax, seen falling short of early goal
BRUSSELS (Reuters) – France and Germany led a group of countries on Tuesday in pushing for a tax on financial trading although the levy is set to fall far short of what was pledged at the height of the financial crisis and may be pared back further.
Dollar wilts to 6 1/2-month low; shares drift
LONDON (Reuters) – The dollar fell to a 6 1/2-month low on Tuesday as investors looked past signs the U.S. economy is emerging from a winter-induced slowdown and focused on the improving picture in Europe.
UK services hit 2014 high, house prices in focus
LONDON (Reuters) – Britain’s dominant services sector grew in April at its fastest pace so far this year, suggesting the broader economy is picking up more speed and raising questions about the Bank of England’s determination not to raise interest rate…
UK lawmakers summon Pfizer and AstraZeneca
LONDON (Reuters) – Representatives from U.S. drugmaker Pfizer and British pharmaceutical firm AstraZeneca will be called before a British parliamentary committee to discuss a potential takeover deal in the coming weeks, a committee spokesman said on Tu…
U.S. economy to see faster growth after winter freeze: OECD
WASHINGTON (Reuters) – U.S. economic growth is set to rebound strongly in the second quarter as the scars of a brutally cold winter fade, but inflation pressures will remain tame through 2015, according to the Organization for Economic Cooperation and …
Euro zone businesses off to bumper start in second quarter: PMI
(Reuters) – Euro zone businesses had a solid start to the second quarter of the year with activity picking up at its fastest pace in almost three years, surveys showed on Tuesday, suggesting a broad-based recovery is taking hold in the bloc.
France’s Hollande says GE must improve Alstom bid
PARIS (Reuters) – French President Francois Hollande said General Electric’s bid for Alstom’s energy business is not acceptable as it stands and that the government’s aim is to get better offers.
