Japan eyes private sector to manage part of its $1.27 trillion forex reserves
TOKYO (Reuters) – Japan is looking to allow private sector funds and trust banks to manage a part of its $1.27-trillion pool of foreign exchange reserves in a drive to manage them better, a government source told Reuters on Sunday.
Global finance chiefs ready defenses ahead of Fed exit
WASHINGTON (Reuters) – Global finance chiefs on Saturday told the IMF to stand ready to aid emerging market economies that could be destabilized by a sudden flight of capital when the U.S. Federal Reserve and other central banks back away from ultra-lo…
UK court to hear evidence ahead of landmark Libor ruling
LONDON (Reuters) – A British court will this week consider whether attempted manipulation of the benchmark interest rate Libor can invalidate loans and other deals or show that banks mis-sold products that were based upon the rate.
Global finance chiefs ready defenses ahead of Fed exit
WASHINGTON (Reuters) – Global finance chiefs on Saturday told the IMF to stand ready to aid emerging market economies that could be destabilized by a sudden flight of capital when the U.S. Federal Reserve and other central banks back away from ultra-lo…
Templeton’s Mobius urges ‘fair and equitable’ TNK-BP buyout
MOSCOW (Reuters) – Emerging markets fund manager Mark Mobius appealed on Saturday for Russian oil company Rosneft to make a “fair and equitable” offer to buy out minority shareholders in oil company TNK-BP.
World top bankers warn of dire consequences if U.S. defaults
WASHINGTON (Reuters) – Three of the world’s most powerful bankers warned of terrible consequences if the United States defaults on its debt, with Deutsche Bank chief executive Anshu Jain claiming default would be “utterly catastrophic.”
Wall Street Week Ahead: Debt-ceiling battle may overshadow earnings
NEW YORK (Reuters) – U.S. stock investors, hoping to leave politics aside to focus on fundamentals, aren’t going to get their wish yet as lawmakers battle over raising the debt ceiling.
BMW eyes record China sales, to recall cars
BEIJING (Reuters) – German luxury car maker BMW said it is set to sell another record number of cars in China this year, an upbeat outlook accompanied by a separate announcement that it would recall over 25,000 defective cars in the nation in 2014.
Italy’s PM says Alitalia should enter alliance quickly: report
MILAN (Reuters) – The investment of state-owned Poste in Alitalia is an emergency move to keep the struggling airline in business and allow it to search for foreign partners without humiliating itself, Italy’s Prime Minister Enrico Letta told an Italia…
Tepco creditors agree to roll over loan: Nikkei
TOKYO (Reuters) – Sumitomo Mitsui Banking Corp. and 27 other financial institutions have agreed to roll over a roughly 77 billion yen ($783 million) syndicated loan for Tokyo Electric Power Co. due to mature at the end of the month, the Nikkei business…
