Tesco’s UK sales resume decline
LONDON (Reuters) – Tesco , the world’s third-biggest retailer, fell back to an underlying sales decline in its main British market in its third quarter, raising new questions over its recovery strategy.
Morgan Stanley amps up lending to boost wealth margins
NEW YORK (Reuters) – Just a few years ago, Morgan Stanley lacked the expertise, infrastructure or desire to do a lot of lending, but today it is making a big push into loans to bridge a profit gap with rivals.
Wal-Mart pays lawyer fees for dozens of executives in bribery probe
WASHINGTON (Reuters) – Wal-Mart Stores Inc is paying for lawyers to represent more than 30 of its executives involved in a foreign corruption investigation, according to people familiar with the matter, an unusually high number that shows the depth of …
China services industry growth steady in November: HSBC PMI
BEIJING (Reuters) – China’s services industry grew at a steady pace in November, a private survey showed on Wednesday, a further indication of strength in the world’s second-largest economy as the government embarks on a sweeping restructuring drive.
U.S. asks Tesla for additional information on Model S fires
DETROIT (Reuters) – U.S. auto regulators have asked Tesla Motors Inc for records of consumer complaints, property damage claims and other details as part of a federal probe into two Tesla electric cars that caught fire on U.S. roads since October.
Japan regulator to sanction Deutsche Securities for excessive client entertainment: sources
TOKYO (Reuters) – Japan’s securities market watchdog will recommend that a Tokyo-based unit of Deutsche Bank be sanctioned for excessive entertainment of pension fund executives considered public employees under the law, sources with knowledge of the m…
Japan readies $182 billion economic package, no new debt needed: sources
TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe is readying a $182 billion economic package this week in his latest bid to pull the economy out of deflation, but the new measures will not require the government to sell more debt.
Video wades into Lockheed-Boeing battle over Canadian jet orders
WASHINGTON (Reuters) – A new video is circulating on the Internet that pokes fun at Lockheed Martin Corp’s F-35 fighter jet while lauding the F/A-18 built by rival Boeing Co , the latest salvo in an increasingly pitched battle over Canadian fighter ord…
Key witness faces heat in Steinberg insider trading case
NEW YORK (Reuters) – The star witness in the government’s case against SAC Capital Advisors portfolio manager Michael Steinberg faced aggressive questioning on Tuesday from Steinberg’s lawyer, who sought to discredit his earlier testimony.
Fed’s Williams: Cutting rate on banks’ reserves ‘would make sense’
SAN FRANCISCO (Reuters) – The Federal Reserve has more reason than ever to cut a key U.S. lending rate it has kept at just above zero since the depths of the financial crisis, a top Fed policymaker suggested on Tuesday.
