World Bank’s Kim warns even U.S. default threat hurts poorest
WASHINGTON (Reuters) – World Bank President Jim Yong Kim on Wednesday said even the threat of a U.S. default could hurt emerging markets and the world’s most vulnerable people.
Saks CEO Sadove to become J.C. Penney director
(Reuters) – J.C. Penney Co Inc said on Wednesday that departing Saks Inc Chief Executive Stephen Sadove will become a director once he leaves his current job, in the latest change that brings more retail experience to the struggling department store ch…
Japan worries about Boeing retreat in wake of JAL defection
TOKYO (Reuters) – For five decades Boeing Co. has awarded bigger and bigger shares of its supply contracts to Japanese firms, but that could change after Japan Airlines’ shock defection to Airbus and as the planemaker seeks to win orders in China.
EU must speed up banking union to gain trust, IMF says
WASHINGTON (Reuters) – The International Monetary Fund urged the European Union to quickly set up an agency that would close or salvage troubled banks across the continent as part of an effort to shed a mountain of bad debt impeding economic recovery.
Yellen news soothes US fears, dollar gains
LONDON (Reuters) – News that Janet Yellen will be nominated to head the U.S. Federal Reserve lifted the dollar and soothed fears over the impact of a budget deadlock on Wednesday, though world shares fell for a third straight day.
Family Dollar profit up but same-store sales flat, cautious on 2014
(Reuters) – Family Dollar Stores Inc posted a higher quarterly profit on Wednesday, as it worked on keeping its costs down while shoppers’ focus on everyday purchases such as food pressured sales, and said it has a cautious approach to 2014.
U.S. mortgage applications edge up on more refinancing: MBA
(Reuters) – Applications for U.S. home loans rose in the latest week as demand for refinancing outpaced purchases, data from an industry group showed on Wednesday.
Wall Street’s hot trade: compliance officers
WASHINGTON (Reuters) – The kings of Wall Street used to be the traders and investment bankers who said yes to big deals and big trades, but today’s power brokers increasingly are the compliance officers who quite often say no to risky proposals.
China arrests chairman of world’s largest tin producer for bribes
BEIJING (Reuters) – Chinese authorities have arrested and charged the chairman of the world’s largest producer of refined tin, Yunnan Tin Co, for accepting bribes, a provincial government said, in the latest example of the country’s crackdown on graft….
Regulator orders updated report on Mizuho mob loans
TOKYO (Reuters) – Japan’s banking regulator on Wednesday ordered Mizuho Financial Group Inc to submit an updated report on its failure to stop loans to organized crime members a day after the bank admitted its top management knew of the illicit transac…
