Swiss banks prepare to bow to U.S. demands, grudgingly
ZURICH/WASHINGTON (Reuters) – Switzerland’s private banks have until Monday to decide whether to bow to U.S. pressure and ditch the centuries-old culture of secrecy that has made the Alpine state a global vault for the world’s rich.
Argentina-Brazil patch up on trade, look to Europe deal
BUENOS AIRES (Reuters) – Argentina’s recent Cabinet shuffle has smoothed trade friction between South America’s two largest economies and clears the way for a united proposal for free trade with the European Union, Brazilian Trade Minister Fernando Pim…
Venezuela to regulate car prices in war against inflation
CARACAS (Reuters) – President Nicolas Maduro’s socialist government issued a decree on Thursday regulating the prices of used and new cars in the latest move to control the highest inflation rate in the Americas.
Third-quarter GDP revised higher as inventories bulge
WASHINGTON (Reuters) – The U.S. economy grew faster than initially estimated in the third quarter but weak demand and a pile-up in business inventories buoyed the case for the Federal Reserve to keep up its bond-buying stimulus for now.
GM to drop Chevy brand in Europe to focus on Opel
FRANKFURT/DETROIT (Reuters) – In a strategic about-face, General Motors will drop the Chevrolet brand in Europe by the end of 2015 after it failed to build significant market share, and the company will focus instead on its Opel and Vauxhall lines to t…
Airbus leads order race, lags Boeing on deliveries
PARIS (Reuters) – Airbus and Boeing look set for a photo finish in their annual order race this year, but Airbus was well in front of its rival in the first 11 months as negotiators work out the small print of big U.S. deals clinched at the Dubai Airsh…
Britain to close hedge fund tax loopholes
LONDON (Reuters) – The British government said it plans to close tax loopholes used by hedge fund managers as it seeks to show it is forcing the rich to share the burden of tough austerity measures.
Fast-food workers walk off jobs, rally for higher minimum wage
NEW YORK (Reuters) – Fast-food workers in hundreds of cities across the United States kicked off a day of strikes and rallies on Thursday to demand a higher minimum wage. The largest job actions were expected in New York and Washington, organizers said…
UK’s Osborne says vindicated by growth rebound, vows to stay on course
LONDON (Reuters) – Finance minister George Osborne celebrated a sharp turnaround in Britain’s economy as vindication of his austerity push on Thursday, but said he would not relax his grip on public spending in the years ahead.
Analysis: Did smarter shopping kill Black Friday?
NEW YORK (Reuters) – Shopping at Walmart stores across the United States reached a fever pitch at 6 p.m. Thanksgiving Day, when employees across the United States ripped the plastic off doorbuster displays of heavily discounted merchandise.
