EU asks Britain to explain new ‘allowances’ in bankers’ pay
LONDON/BRUSSELS (Reuters) – The European Commission has asked the Bank of England to explain how new allowances in British bankers’ pay comply with an EU bonus cap, an official at the bloc’s executive said, a new flashpoint of friction over the reach o…
World food prices fall in January, seen contained – FAO
ROME (Reuters) – Global food prices fell in January, led by declines in the costs of sugar, vegetable oils, and cereals, the United Nations food agency said on Thursday, adding that robust inventories should contain prices in coming months.
Sony to cut 5,000 jobs, split off PC, TV operations
TOKYO (Reuters) – Sony Corp , under pressure to shore up profitability in its electronics business, unveiled a restructuring plan on Thursday that will cut 5,000 jobs and trim 100 billion yen ($988 million) a year from fixed costs, while splitting off …
Big Pharma pushes for U.S. action against India over patent worries
MUMBAI/LONDON (Reuters) – Global pharmaceutical firms are pressuring the United States to act against India to stop more local companies producing up to a dozen new varieties of cheap generic drugs still on-patent, sources with direct knowledge of the …
Air India Boeing 787 diverted after software glitch
NEW DELHI (Reuters) – Air India Ltd diverted a Boeing Co. 787 plane to Kuala Lumpur after pilots noticed a software glitch during a flight from Melbourne to New Delhi on Wednesday, in the latest incident involving the jet.
Analysis: Emerging markets selloff bruises big-name funds
NEW YORK/LONDON (Reuters) – The plunge in emerging markets is taking a bite out of the performance of funds managed by some of the biggest names on Wall Street, including BlackRock, Brevan Howard and T. Rowe Price.
Ford to cut 300 jobs in Australia, spurs worries about earlier exit
SYDNEY (Reuters) – Ford Motor Co said on Thursday it would cut production in Australia by one third with about 300 jobs to go in June, spurring worries the carmaker may exit the country sooner than its planned 2016 deadline.
Citi to pay $110 million in a lawsuit over force-placed insurance
(Reuters) – Citigroup Inc has agreed to pay $110 million to thousands of homeowners who were forcibly charged expensive property insurance premiums, a court filing showed, as several U.S. banks and insurers were criticized by regulators over such pract…
IBM starts rolling out Watson supercomputer in Africa
LAGOS (Reuters) – IBM began rolling out its Watson supercomputer system across Africa on Thursday, saying it would help to address continental development obstacles as diverse as medical diagnoses, economic data collection and e-commerce research.
U.S. bank leverage rules to include global revisions: Fed governor
WASHINGTON (Reuters) – A top U.S. bank regulator plans to tell lawmakers on Thursday that final leverage rules for U.S. banks will incorporate recent revisions to a global capital standard, which likely means tougher requirements for the institutions.
