Current account deficit smallest in four years
WASHINGTON (Reuters) – The U.S. current account deficit was the smallest in four years in the third quarter as exports increased and more income was earned abroad, a government report showed on Tuesday.
Analysis: Megaproject tails wag the Big Oil dog
LONDON (Reuters) – The biggest oil and gas projects have become much more costly, complex and unpredictable, outpacing growth in financial firepower among the tiny handful of companies with the ability to develop them.
Mercedes eyes record output as plants run at full steam
BERLIN (Reuters) – Daimler’s Mercedes-Benz division will push output to a new record this year as German plants are running extra shifts to meet strong demand for new compact models as well as the overhauled S-Class flagship sedan.
Genting to spend $3-4 billion in Las Vegas in push for U.S. gaming empire
KUALA LUMPUR (Reuters) – Genting Bhd, Southeast Asia’s biggest gaming group, will spend an initial $3 billion to $4 billion to develop an unfinished resort on the Las Vegas strip, as it seeks to build a U.S. empire of casino and leisure assets.
New Basel study confirms variations in how banks tot up risks
LONDON (Reuters) – Global banking regulators have reinforced their campaign to impose more consistent ways for banks to assess risks on their trading books with a second finding of wide variations between systems in use in the sector.
Germany’s financial fire-fighter steps back, but for how long?
BERLIN (Reuters) – Leaving the spotlight of the European Central Bank for a back-office position in a German ministry that pays a fraction of the salary might look at first glance like professional suicide for Joerg Asmussen.
Chile’s CFR accuses South Africa pension fund of protectionism
JOHANNESBURG (Reuters) – Chile’s CFR Pharmaceuticals has accused South Africa’s state pension fund of protectionism for opposing its $1.2 billion bid for drugmaker Adcock Ingram, a sensitive charge in a country keen to attract capital but wary of forei…
Former UK trader Hayes pleads not guilty to Libor fraud charges
LONDON (Reuters) – Tom Hayes, a former UBS and Citigroup trader, on Tuesday pleaded not guilty in a London court to charges that he had sought to manipulate Libor benchmark interest rates with employees from around 10 leading banks and brokerages.
Mercedes to boost production to more than 1.49 million cars in 2013
BERLIN (Reuters) – Daimler’s Mercedes-Benz division said it will boost production to more than 1.49 million luxury cars this year, a new record, citing strong demand for the flagship S-Class sedan as well as its compact vehicles.
European shares dip, dollar steady as Fed meeting nears
LONDON (Reuters) – European shares and bonds got off to a weak start and the dollar hovered cautiously on Tuesday as the Federal Reserve prepared for a two-day meeting where it may start to wind down its stimulus program.
