Best Buy warns promotions could hurt holiday-quarter margins
(Reuters) – Best Buy Co Inc said on Tuesday it would be competitive on prices during the holiday season as promotional activity by rivals grows fierce, but warned it could hurt margins in the fourth quarter.
U.S. labor costs point to still-benign inflation
WASHINGTON (Reuters) – U.S. labor costs rose marginally in the third quarter, pointing to tame wage inflation that should allow the Federal Reserve to maintain its bond-buying program to stimulate the economy.
IMF sees stable 6.5 percent growth for Sri Lanka this year, 2014
COLOMBO (Reuters) – The International Monetary Fund expects Sri Lanka’s economy to grow at 6.5 percent this year and in 2014, less than the central bank’s forecast, a senior Fund official said, and remains concerned about medium-term risks from high bu…
Lithuania will meet deficit target for euro entry: finmin
LONDON (Reuters) – Lithuania’s budget deficit will be higher than originally forecast this year, but it still expects to meet the criterion for joining the euro zone, the country’s finance minister said on Tuesday.
Investor caution ends share rally, dollar steadies
LONDON (Reuters) – World shares fell on Tuesday as concern that the recent stock rally has been overdone grew after the OECD cut its global economic forecasts, while doubt over when the Federal Reserve may trim its stimulus supported the dollar.
China central bank vows faster FX reform; IPO hopes tempered
BEIJING (Reuters) – China’s officials indicated on Tuesday how they plan to steer reforms on interest rates, the currency and stock markets, following a top-level party meeting that promised sweeping changes over the next decade.
Eurozone recovery fragile but no deflation risk: ECB’s Praet
FRANKFURT (Reuters) – There is no risk of deflation visible in the euro zone economy but its recovery is fragile with inflation low and credit subdued, ECB Executive Board member Peter Praet said on Tuesday.
Tepco to seek $2 billion in private-placement bonds from lenders: sources
TOKYO (Reuters) – The operator of the crippled Fukushima nuclear plant, seeking to revive its finances, will receive $2 billion in funding from its lenders via private-placement bonds, a step that will offer greater protection to creditors, people fami…
OECD sees emerging markets holding back global recovery
PARIS (Reuters) – Slowing emerging markets are dragging on the world’s economic recovery and advanced countries are struggling to pick up the slack after years of debt crises, the OECD said on Tuesday, trimming its global growth forecasts.
Insight: As U.S. default threatened, banks took extraordinary steps
NEW YORK (Reuters) – As the United States threatened to default on its debt last month, major U.S. banks set up war rooms, spent many millions of dollars on contingency planning and, in some cases, even prepared to underwrite federal government benefit…
