Holders of U.S. government debt draw up contingency plans for default
LONDON (Reuters) – No one expects it to happen, but everyone’s making sure they’re prepared for it.
U.S. crisis should not distract G20 from growth plan: Canada
OTTAWA (Reuters) – The U.S. gridlock over government finances will dominate a meeting of G20 finance officials this week but should not slow down the group’s work on an action plan to bolster growth, a senior Canadian financial official said on Tuesday…
Retailers see ‘click and mortar’ as way to beat Amazon
PARIS (Reuters) – Traditional stores can take on e-commerce and keep their major role by reinventing themselves faster to best combine shopping in stores and online, top retailers said on Tuesday.
IMF sees U.S. default as unlikely, but could be ‘devastating’
WASHINGTON (Reuters) – A U.S. debt default is an unlikely event, but one that could have catastrophic consequences for the world, the International Monetary Fund said on Tuesday.
JPMorgan banker sees Brazil firms borrowing for longer
SAO PAULO (Reuters) – Brazilian companies will have a more diversified base of funding in coming years, with longer maturities and different structures, that will benefit firms with a focus on infrastructure and other capital-intensive activities, the head of JPMorgan Chase & Co’s unit in the country said on Tuesday.
Former World Bank president rejoins Goldman Sachs
(Reuters) – Goldman Sachs Group Inc said on Monday that former World Bank Group president Robert Zoellick will rejoin the investment bank as chairman of its international advisory board.
Aston Martin scraps Cygnet city car after dire sales
LONDON (Reuters) – Aston Martin has abandoned its attempt to tap into the popularity of so-called city cars after selling fewer than 150 of its “Cygnet” model, an embarrassing blow to the struggling 100-year-old British luxury sports car maker.
Computer-driven hedge fund Density to shut down
LONDON (Reuters) – Sweden-based hedge fund Density is to close after a poor performance, its manager told Reuters on Tuesday, as computer-driven funds struggle to cope with markets dominated by central bank money-printing.
J.C. Penney says September same-store sales show improving trend
(Reuters) – Struggling department store operator J.C. Penney Co Inc reported a smaller decline in same-store sales for September, compared to August, and said it was seeing positive signs in many areas of its business.
U.S. default could devastate global economy, says JPMorgan’s Brazil head
SAO PAULO (Reuters) – A political impasse between Republicans and Democrats that led to a U.S. government shutdown in recent days could have devastating consequences for the global economy if it translates into a debt default, the head of JPMorgan Chase & Co’s Brazilian unit said on Tuesday.
