Lloyds’ PPI compensation bill to rise to 8 billion pounds: Sky News
(Reuters) – Britain’s Lloyds Banking Group will have to spend at least another 700 million pounds ($1.13 billion) to compensate customers who were mis-sold payment protection insurance (PPI), Sky News reported, without citing sources.
U.S. factory, housing data suggest economy losing steam
WASHINGTON (Reuters) – U.S. manufacturing output barely rose in September and contracts to buy previously owned homes recorded their largest drop in nearly 3-1/2 years, the latest signs the economy’s momentum ebbed as the third quarter ended.
Why Wells Fargo’s loan losses are plunging
(Reuters) – Wells Fargo & Co’s loan book is performing better than many of its peers and better than even the bank expected in the middle of the last year, thanks to factors including higher house prices and tougher loan standards.
Deutsche Boerse gets offer from U.S. to settle Iran case
FRANKFURT (Reuters) – German exchange operator Deutsche Boerse said on Monday it had received an offer from the United States to settle an investigation into the possible violation of U.S. sanctions against Iran for $152 million.
VW’s ‘new era’ vehicle platform seen putting a drag on profits
BERLIN (Reuters) – Volkswagen may face a new challenge to its bid for the top slot among global carmakers, as the very platform the German giant has spent the last six years creating to take it to a higher level in the rankings may not be working to pl…
Analysis: Kenya shutdown tempers east African oil ambitions
NAIROBI (Reuters) – Tullow Oil’s suspension of drilling in Kenya after weekend protests shows that popular impatience for a share of the spoils is compounding the problems energy firms face building an oil and gas industry from scratch in east Africa.
Vivendi and Lagardere agree 1 billion euro Canal+ buyout
PARIS (Reuters) – Vivendi has reached an agreement to buy out partner Lagardere’s 20 percent stake in pay-television operator Canal+ France for 1.02 billion euros ($1.41 billion), the companies said on Monday.
Penney reiterates sales trends are improving, shares up
NEW YORK (Reuters) – J.C. Penney Co Inc told investors for the third time in less than five weeks that sales trends are improving and reaffirmed its forecast calling for positive comparable-store sales results coming out of the third quarter.
Merck’s Januvia, animal health products slump; shares off
(Reuters) – Merck & Co Inc reported lower sales of its Januvia diabetes treatment, fresh evidence its biggest product is losing ground to newer drugs, and also spooked investors with falling quarterly sales of its animal health products.
South Africa’s AMCU union says members vote for Implats strike
JOHANNESBURG (Reuters) – South Africa’s Association of Mineworkers and Construction Union said on Monday its members voted to strike at Impala Platinum , but it would not immediately give the company a 48-hour notice, suggesting a stoppage might still …
