Japan mega banks must help regional peers lend abroad: new banking head
TOKYO (Reuters) – Japan’s biggest banks must do more to involve smaller peers when seeking partners to finance overseas projects, to support a regional banking sector facing an uncertain future without a wider pool of borrowers, Japan’s new banking hea…
IMF still sees advantage for ‘too important to fail’ banks
WASHINGTON (Reuters) – Top banks in the euro zone benefited from an implicit taxpayer subsidy of $90 billion to $300 billion in 2012 due to ongoing state support which makes them “too important to fail,” the International Monetary Fund said in a report…
Swiss, UK watchdogs step up scrutiny on forex traders
ZURICH/LONDON (Reuters) – Swiss and British regulators stepped up their scrutiny of alleged manipulation of foreign exchange markets on Monday, as watchdogs take a closer look at whether banks have a tight enough grip on the behavior of their traders.
The tally is in: Ethanol ‘blend wall’ cost refiners at least $1.35 billion
NEW YORK (Reuters) – Last year’s spike in the price of ethanol blending credits cost independent refiners at least $1.35 billion, more than three times as much as the year before, according to a Reuters’ review of securities filings.
U.S. funds raise cash stakes as stock market wobbles
NEW YORK (Reuters) – U.S.-based fund managers cut their average stock holdings to a five-month low in March and held their highest average position in cash since December, as Russia’s move into Crimea spooked global markets, a Reuters poll showed.
Mixed reaction to weak euro zone inflation data
LONDON (Reuters) – European stocks trimmed gains on Monday while government bond yields and the euro rose after weak euro zone inflation data cemented expectations the European Central Bank will ease policy but also prompted investors to take profit on…
China’s Huawei aims to double last year’s record revenue by 2018
SHENZHEN/BEIJING (Reuters) – China’s Huawei Technologies Co Ltd has targeted 2018 revenue almost double the record reaped last year when the company booked 34 percent profit growth and became the world’s third-biggest smartphone manufacturer.
Hyundai Motor chief earned $13 million last year
SEOUL (Reuters) – Hyundai Motor Co chairman Chung Mong-koo earned a combined 14 billion Korean won ($13.09 million) in pay last year from the South Korean automaker and its two key affiliates in their first such disclosure under new rules.
SocGen facing bribery lawsuit over Libyan deals
(Reuters) – Libya’s sovereign wealth fund has filed a $1.5 billion lawsuit against Societe Generale , accusing it of funneling bribes worth tens of millions of dollars to associates of Saif al-Islam, the son of former Libyan leader Muammar Gaddafi.
New York state joins NYC in suing FedEx for shipping untaxed cigarettes
(Reuters) – New York state joined New York City in suing package delivery company FedEx Corp for allegedly violating state and federal laws by illegally delivering contraband cigarettes to people’s homes.
