Analysis: Canada’s cold shoulder to Target a cautionary tale
TORONTO (Reuters) – U.S. retailers looking north in their quest for growth should consider the frosty reception Canada has so far given trendy discounter Target Corp a cautionary tale: what looks like a simple border crossing can easily go wrong.
Britain’s Cameron defends GSK’s business practices in China
SHANGHAI (Reuters) – British Prime Minister David Cameron on Tuesday mounted a robust defense of GlaxoSmithKline’s business practices in China – where it is being investigated for alleged bribery – calling the firm “very decent”.
OGX, creditors near accord to swap debt for stock: sources
SAO PAULO/RIO DE JANEIRO (Reuters) – OGX Petróleo e Gas Participações SA and its creditors are close to a deal to transform some of OGX’s $5.1 billion debt into stock, stripping Brazilian businessman Eike Batista of a controlling stake in the oil company, two sources with direct knowledge of the situation said on Tuesday.
Hong Kong’s next hot IPO banks on China funeral growth
HONG KONG (Reuters) – When it comes to making a killing on the Hong Kong IPO market, buying into a cemetery custodian is not the first strategy which springs to mind.
Dow, S&P fall for third straight day; retail weighs
NEW YORK (Reuters) – The Dow and the S&P 500 fell for a third straight day on Tuesday, dropping from record levels in a broad decline as investors took profits amid signs of a weak holiday shopping season.
Sturdy jobs report eyed, may put December Fed taper on table
WASHINGTON (Reuters) – U.S. job growth likely remained solid in November, with the unemployment rate falling, which could bring the Federal Reserve a step closer to curtailing its massive monetary stimulus.
EU readies multi-million euro benchmark rigging fines: sources
BRUSSELS (Reuters) – EU antitrust regulators will impose record multi-million euro fines on six banks including Citigroup, Deutsche Bank and Royal Bank of Scotland on Wednesday for rigging key interest rate benchmarks, sources said.
Iran’s Indian bank looks to life after sanctions windfall
MUMBAI (Reuters) – An obscure Indian bank has been an unlikely beneficiary of Western sanctions against Iran, handling billions of dollars from frozen oil payments that boosted its interest margins, but is now having to prepare itself for life after th…
U.S. senator seeks information on carmaker efforts to thwart hackers
BOSTON (Reuters) – A U.S. senator has asked 20 of the world’s biggest automakers for information on how they secure their vehicles from cyber attacks, in light of reports by security experts who say they have identified ways to hack into cars.
Auto sales rise in November, boosted by discounts
DETROIT (Reuters) – Major automakers reported their best U.S. sales month in six and a half years in November as aggressive discounting and the continued popularity of big pickup trucks helped trounce Wall Street forecasts.
