China’s $12 trillion corporate debt pushes up refunding costs, drives mergers
BEIJING/HONG KONG (Reuters) – China’s corporate debt has hit record levels and is likely to accelerate a wave of domestic restructuring and trigger more defaults, as credit repayment problems rise.
BOJ Kuroda: Japan getting on track towards reaching price target
TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Wednesday that Japan’s economy is getting on track towards achieving a 2 percent inflation target as price hikes spread to a broader range of goods on the back of a narrowing output gap.
Many big U.S. corporations pay very little in taxes: study
(Reuters) – Many of the most profitable U.S. corporations paid little or no federal income tax from 2008 to 2012, according to a five-year study issued on Tuesday by a left-leaning tax activist group.
BofA under probe over U.S. housing program, forex
(Reuters) – Bank of America Corp may have a new mortgage problem on its plate, saying on Tuesday that federal investigators are looking into whether the bank violated requirements of a U.S. government housing program.
JPMorgan compliance chief leaves firm: WSJ
(Reuters) – JPMorgan Chase & Co’s compliance chief has quit the largest U.S. bank, roughly a year after being appointed to the position, the Wall Street Journal reported on Tuesday.
RBS to pay $920 million in bonuses for 2013: Sky News
(Reuters) – Royal Bank of Scotland has received approval from Treasury agency UK Financial Investments to pay about 550 million pounds ($920 million) in staff bonuses for 2013, Sky News reported late on Tuesday.
Boeing wins $2.1 billion contract for 16 more P-8 spy planes
WASHINGTON (Reuters) – Boeing Co has been awarded a $2.1 billion contract to build 16 P-8A Poseidon long-range maritime spy planes for the U.S. Navy, the U.S. Defense Department announced on Tuesday.
Food and drink industry makes progress on development: Oxfam
BERLIN (Reuters) – Many of the world’s top food and beverage companies are taking steps to improve their social and environmental impact on poor countries, although there is still much more to do, development group Oxfam said on Wednesday.
SAC to shrink legal entities, hire surveillance officer: letter
BOSTON (Reuters) – SAC Capital Advisors, the once powerful hedge fund that plead guilty to insider trading charges last year, is streamlining its business units and will hire a chief surveillance officer as it transforms itself into a family office.
Tennessee VW workers challenge UAW objection to plant vote
(Reuters) – Five Volkswagen workers moved on Tuesday to undercut the United Auto Workers’ appeal to an election that resulted in the union’s failure to organize VW’s Chattanooga, Tennessee plant earlier this month, an anti-union group said.
