Sign of U.S. debt deal boosts shares, dollar
LONDON (Reuters) – Signs of a deal to avert an economically damaging U.S. debt default boosted world equity markets and the dollar on Tuesday, though firm short-term interest rates highlighted concerns that the problem may just be postponed.
China able to achieve major economic targets this year: Premier
BEIJING (Reuters) – China has the basic foundations to meet its major economic targets this year and the upward trend of the economy will continue, Premier Li Keqiang was quoted as saying in remarks published on Tuesday.
China to ban new projects, strengthen market in new overcapacity plan
BEIJING (Reuters) – China will tackle chronic overcapacity problems in sectors such as steel and cement by blocking approvals for new projects and by making better use of the market, according to a new plan issued by the State Council on Tuesday.
Analysis: U.S. debt ceiling crisis would start quiet, go downhill fast
WASHINGTON (Reuters) – If Washington doesn’t reach a deal soon to keep paying its bills, an economic crisis could start unfolding so quietly on Thursday it will give little hint of its potential to throw millions of Americans out of work.
Citigroup, State Street gear up for possible US debt default: WSJ
(Reuters) – Citigroup Inc and State Street Corp have been exploring ways in which they might impose limits on the use of short-term treasury bills due in the coming weeks as collateral, the Wall Street Journal reported, citing people familiar with the …
Toyota to cut up to 100 jobs in Australia as export orders drop
SYDNEY (Reuters) – Toyota Motor Corp said on Tuesday it would cut up to 100 jobs in Australia, a move to downsize its production as export orders dropped.
Savient Pharmaceuticals files for Chapter 11 bankruptcy
(Reuters) – U.S. biotech firm Savient Pharmaceuticals Inc filed for Chapter 11 bankruptcy protection in a Delaware court on Monday and said it has agreed to sell most of its assets to Sloan Holdings CV for about $55 million.
KKR writes new check to help First Data refinance debt
NEW YORK (Reuters) – Private equity firm KKR & Co LP and its co-investors, which took First Data Corp private for $29 billion in 2007, are making a new $300 million investment in the world’s largest payment processing company to help it refinance its debt.
Wall Street watchdog signals new hurdles for clearing brokers’ records
(Reuters) – Wall Street’s industry-funded watchdog issued new guidance late Monday that gives arbitrators more information about their responsibilities in a process that allows securities brokers to request the removal of customer complaints from their…
UK’s Osborne to offer special terms to Chinese banks: FT
(Reuters) – British Finance Minister George Osborne is set to announce on Tuesday special terms that make it easier for Chinese investment banks to expand in the UK, the Financial Times reported.
