Lowe’s outperforms Home Depot in stormy quarter
(Reuters) – Lowe’s Cos Inc reported strong growth in quarterly sales, showing that the No. 2 U.S. home improvement retailer was narrowing the gap with market leader Home Depot Inc.
Exclusive: Chesapeake, Encana near settlements on Michigan collusion probe
NEW YORK/HOUSTON (Reuters) – Encana Corp and Chesapeake Energy Corp are negotiating civil settlements with the state of Michigan to try to end its criminal investigation into whether the energy companies colluded to keep oil and gas lease prices artifi…
Discount stores flourish as recession habits persist
BERLIN/LONDON (Reuters) – Mid-market retailers face pressure to compete on both price and quality as they battle an expansion of discount chains that is powering ahead as recession-era shopping habits become entrenched in post-crisis Europe.
China’s yuan might ultimately challenge dollar: ECB’s Mersch
LUXEMBOURG (Reuters) – China’s yuan currency is gaining importance in international trade and investment and might ultimately challenge the U.S. dollar, European Central Bank Executive Board member Yves Mersch said on Wednesday.
Beyond Mt. Gox, bitcoin believers keep the faith, see more robust system
SINGAPORE (Reuters) – The apparent collapse of Tokyo-based bitcoin exchange Mt. Gox isn’t bothering Anthony Hope and others who have ditched steady careers in government and finance to build bitcoin companies – and who stand to lose money they have in …
U.S. mortgage applications slip in latest week: MBA
NEW YORK (Reuters) – Applications for U.S. home mortgages fell, including both new purchases and refinancings, in the latest week, an industry group said on Wednesday.
Rolls-Royce unveils plans for more efficient aircraft engines
DERBY, England (Reuters) – British engineering company Rolls-Royce unveiled plans on Wednesday for a new aircraft engine which it said would be up to 6 percent more efficient than its latest model and could be ready by the end of the decade.
China’s attack on yuan speculators risks backfiring
SHANGHAI/BEIJING (Reuters) – China’s central bank rattled speculators this week by engineering a sudden fall in the yuan against the dollar, but economists warn that induced downside risk was no substitute for true liberalization in the currency market…
Shares sluggish, semblance of calm returns to China markets
LONDON (Reuters) – World shares struggled to stay above water on Wednesday as concerns over opaque policy moves in China kept investors on edge amid a scarcity of major economic data.
China unlikely to see a sharp correction in property market
BEIJING (Reuters) – China’s property market is likely to see at most a moderate correction in prices in some small cities this year, according to a Reuters straw poll of 13 industry watchers this week, with the chance of a sharp fall in prices nationwi…
