IMF likely to cut Russia outlook, eyes risks to central, eastern, south-eastern Europe
LONDON (Reuters) – The International Monetary Fund said on Tuesday that central, eastern and south-eastern Europe faced “an unusual constellation of risks” as the fund prepared to cut its forecasts for Russian growth for the second time in less than a …
VW profit jumps as Audi, Porsche sales hit record
BERLIN (Reuters) – German carmaker Volkswagen posted a quarterly jump in operating profit as Europea’s fledgling economic recovery lifted sales of Audi and Porsche luxury models to record levels.
Nokia names leader of networks business turnaround as CEO
HELSINKI (Reuters) – Nokia named the man who led a turnaround at its main telecoms network business as its new chief executive on Tuesday, boosting investors’ confidence in the future of the company following the sale of its once dominant handset arm.
Bitcoin traders settle class actions over failed Mt. Gox exchange
(Reuters) – U.S. and Canadian customers of failed Tokyo-based bitcoin exchange Mt. Gox have agreed to settle their proposed class action lawsuits that alleged the company defrauded them of hundreds of millions of dollars.
Samsung Electronics tips second quarter pickup, smartphone challenge looms
SEOUL (Reuters) – Samsung Electronics Co Ltd on Tuesday said it expected stronger earnings in the second quarter as a pickup in sales of high-end televisions and smartphones spurs growth, after it posted its second straight fall in quarterly profit.
Corporate news lifts stocks, tight money markets buoy euro
LONDON (Reuters) – European stocks rose on Tuesday, as optimism surrounding corporate earnings and merger moves eclipsed the crisis in Ukraine, while rising euro zone money market rates and strong German consumer confidence supported the euro.
EU unveils tougher bank test in bid to draw line under crisis
LONDON (Reuters) – European banks must show they can survive simultaneous routs in bonds, property and stocks in the toughest test to date by regulators aiming to restore confidence in an industry that had to be rescued by taxpayers in the financial cr…
China April PMI seen ticking up, slowdown may persist
BEIJING (Reuters) – China’s factory activity may have picked up slightly in April as the government uses targeted measures to support the economy, a Reuters poll found, but the slowdown could continue due to a cooling property sector and the impact of …
Haircuts and beef bowls helping BOJ’s Kuroda win converts
TOKYO (Reuters) – Rising prices for budget haircuts and bowls of beef and rice are helping Bank of Japan Governor Haruhiko Kuroda win over doubters in his own ranks of his ambitious drive to cast off deflation.
Deutsche Bank Q1 pretax profit tumbles as trading weighs
FRANKFURT (Reuters) – Deutsche Bank’s pretax profit fell by 30 percent in the first quarter to 1.68 billion euros ($2.33 billion), the bank said on Tuesday, depressed by an industry-wide slump in bond trading revenue.
