Tentative China pension reforms tackle inequality, but financing issues remain
BEIJING (Reuters) – China’s latest step to overhaul its pension system to even out payments between urban and rural residents is a move experts say is more symbolic than sweeping.
New orders threaten fragile shipping sector recovery: survey
LONDON (Reuters) – Overcapacity threatens to derail a fragile recovery in the global shipping sector as ship owners and investors place orders for new vessels betting on better times, a survey showed on Thursday.
Samsonite trumps LVMH as China retail moves downmarket
HONG KONG (Reuters) – The world’s biggest luxury brands are slowing their expansion in China as more consumers shop abroad, leaving mall operators holding the bag.
Investment chief of top U.S. pension fund Calpers dies after cancer
(Reuters) – The chief investment officer of Calpers, the largest pension fund in the United States, has died after a battle with cancer, his office said on Wednesday. He was 62.
China’s major banks have not tightened lending in property sector: Xinhua
SHANGHAI (Reuters) – China’s major lenders have not tightened or halted their property-related lending business, the official Xinhua news agency said, after local media reported that some banks had stopped lending to real estate developers.
Slashing jobs and jets, Qantas makes plea for state aid
SYDNEY (Reuters) – Qantas Airways Ltd is axing 15 percent of its workforce, slashing spending and selling gas-guzzling older planes after stiff competition at home and overseas pushed the Australian flag carrier deep into the red in the first half.
U.S. senators scold prosecutors, Swiss bank in tax spat
WASHINGTON (Reuters) – U.S. senators lashed out at federal prosecutors on Wednesday for a lack of zeal in going after Swiss banks that helped Americans dodge taxes, blaming both sides for billions of dollars in missed revenues.
Boeing Black: This smartphone will self-destruct..
NEW YORK (Reuters) – Boeing Co on Wednesday unveiled a smartphone that appears to come straight from a James Bond spy movie.
Bank of America disputes $2.1 billion claim in U.S. fraud suit
NEW YORK (Reuters) – Bank of America Corp said it does not owe the U.S. government the $2.1 billion it is seeking in penalties after a jury found the bank liable for fraud over defective mortgages sold by its Countrywide unit, according to a court fili…
BP loses bid to block seafood fund payments
(Reuters) – A U.S. federal judge on Wednesday denied BP Plc’s request to halt payments from the $2.3 billion fund it has created to compensate commercial fishermen for financial losses claimed after the British company’s 2010 offshore oil spill, accord…
