Wells Fargo targets big spenders in credit card push
(Reuters) – Wells Fargo & Co, is looking to entice more wealthy customers to use its credit cards as part of a strategy to become a more dominant player in that business, a top executive said on Thursday.
In blow to Putin, Russia slashes long-term growth forecast
MOSCOW (Reuters) – Russia acknowledged for the first time on Thursday that its economy would lag global growth over the next two decades, setting the stage for an era of stagnation that could threaten President Vladimir Putin’s grip on power.
Penney monthly same-store sales rise for first time since 2011
(Reuters) – J.C. Penney Co Inc on Thursday reported its first monthly same-store sales gain in nearly two years on the back of deep discounts and the decision to resume stocking merchandise that the retailer’s long-time shoppers liked.
Wendy’s sales miss estimates, shares fall
(Reuters) – Wendy’s Co , the second-largest U.S. hamburger chain, reported lower-than-expected quarterly revenue, sending its shares down 9 percent in premarket trading.
SocGen, Agricole agree asset swap in strategy shift
PARIS (Reuters) – French banks Societe Generale and Credit Agricole have agreed an asset swap designed to help narrow their business focus, part of efforts to improve their investor appeal in a tough economic and regulatory climate.
China extends graft investigation into shipping industry
HONG KONG (Reuters) – China’s campaign to root out deep-seated corruption has now extended into the shipping industry, after the country’s largest bulk shipper, China COSCO Holdings Co Ltd, said the government was probing one of its top executives.
Bank of England sits tight on policy as recovery builds
LONDON (Reuters) – The Bank of England left policy unchanged on Thursday, sticking to its commitment to keep interest rates at rock-bottom until the country’s recovery is more firmly established.
France’s BNP joins battle for Rabobank’s Polish arm
WARSAW/PARIS (Reuters) – France’s BNP Paribas has joined the bidding for the Polish arm of Dutch lender Rabobank , aiming to strengthen its position in eastern Europe’s largest economy in a deal that could be worth about 1 billion euros ($1.4 billion)….
Deutsche Boerse settles Iran suit with U.S.
FRANKFURT (Reuters) – Deutsche Boerse agreed on Thursday to pay $152 million to settle allegations by the U.S. Office of Foreign Assets Control (OFAC) that the company’s Clearstream unit may have violated U.S. economic sanctions tied to Iran.
Euro, shares steady as ECB decision nears
LONDON (Reuters) – The euro held firm as investors questioned how far the ECB would go on Thursday in hinting at policy easing, though world shares weakened before U.S. data which could set the course for the Federal Reserve’s policy.
