Deutsche, Citi feel the heat of widening FX investigation
LONDON (Reuters) – Global investigations into alleged currency market manipulation intensified on Wednesday as U.S. regulators descended on Citigroup’s London offices and Deutsche Bank suspended several traders in New York, sources told Reuters.
U.S. producer prices advance, but inflation still tame
WASHINGTON (Reuters) – U.S. producer prices recorded their largest gain in six months in December as the cost of gasoline rebounded strongly, but there were few signs of any sustained price pressures.
Russia rouble float may hurt investors now but help in long run
LONDON (Reuters) – Russia’s move towards a flexible rouble exchange rate may well prove a boon for the struggling economy, but foreign stock and bond investors should brace for short-term losses as the currency finds a new level.
Analysis: BP’s U.S. Gulf oil spill settlement challenges may backfire
(Reuters) – A year after agreeing to a multi-billion dollar settlement with victims of the 2010 Gulf oil spill, BP is aggressively challenging terms of the deal in a legal strategy that could backfire with the judge who will rule on the company’s poten…
Davos prepares for annual parade of powerbrokers
GENEVA (Reuters) – The annual Davos gathering, which draws thousands of the world’s most powerful people, will this year welcome more than 40 heads of state and government to focus on questions about the world’s future, organizers said on Wednesday.
Sears recalls Kenmore fan heaters over fire, burn hazards
WASHINGTON (Reuters) – Sears Holdings Corp has recalled about 42,500 Kenmore oscillating fan heaters after reports some of them overheated and caused injuries, the Consumer Product Safety Commission said on Wednesday.
NYSE says it would take over Nasdaq stock quote system
NEW YORK (Reuters) – NYSE Euronext offered on Wednesday to take over the data processor at the center of the massive Nasdaq trading outage last August after Nasdaq OMX Group Inc indicated it would stop running it.
UK’s Cameron ducks Labour call for RBS bankers’ bonus cap
LONDON (Reuters) – British Prime Minister David Cameron refused on Wednesday to answer a call to cap individual bank bonuses at the largely state-owned Royal Bank of Scotland , but said he would veto any increase in the bank’s overall pay pot.
New GM team says U.S., China growth to offset costs in tougher regions
DETROIT (Reuters) – General Motors Co’s new executive team said modest growth in the United States and China this year would help it fund about $1.1 billion in restructuring costs in other harder-hit regions, including Europe and Australia.
Mini crossover may be missed opportunity for Hyundai in U.S.
DETROIT (Reuters) – South Korea’s Hyundai Motor Co , already struggling with a host of business challenges, is developing another headache: a dearth of product to compete in a fledgling U.S. mini-crossover utility vehicle market even as rivals gear up …
