Independent analysts take a bite out of investment banks in Asia
HONG KONG (Reuters) – After 27 years working for investment banks and hedge funds, Hong Kong-based equity research analyst Paul Schulte decided it was time to fly solo.
Ford targets one-third increase in capacity within five years
WAYNE, Michigan (Reuters) – Ford Motor Co mapped out a plan to build one-third more vehicles globally by adding more plants in emerging markets, overhauling its production methods and running most of its factories around the clock by 2017, executives s…
U.S. Supreme Court won’t hear Argentina bond dispute appeal
WASHINGTON/BUENOS AIRES (Reuters) – The U.S. Supreme Court on Monday declined to hear a preliminary appeal filed by Argentina over its battle with hedge funds that refused to take part in two debt restructurings stemming from the country’s catastrophic…
Wall Street falls as no progress seen to resolve shutdown
NEW YORK (Reuters) – U.S. stocks fell on Monday, extending two weeks of losses, as a lack of progress in ending the partial U.S. government shutdown or the debt-ceiling standoff kept investors nervous.
UK’s Cable says Labour ‘irresponsible’ to talk up Royal Mail value
LONDON (Reuters) – British Business Secretary Vince Cable accused the opposition Labour party of irresponsibly talking up the value of shares in the Royal Mail postal service, a day before order books close on Britain’s biggest privatisation in decades…
U.S. consumer credit up, but credit card usage down
WASHINGTON (Reuters) – U.S. consumer credit rose more than expected in August, but a third straight month of decline in credit card usage was consistent with recent tepid consumer spending.
Monte Paschi toughens up revival plan to win over Brussels
MILAN/ROME (Reuters) – Bowing to European Union requests, loss-making Italian bank Banca Monte dei Paschi di Siena unveiled thousands of new job cuts on Monday and asset sale plans in a bid to return to profit and stave off nationalisation.
Mark Cuban tells insider trading trial share sale was long planned
DALLAS (Reuters) – Dallas Mavericks basketball team owner Mark Cuban testified at his insider trading trial on Monday that he had said “on multiple occasions” he intended to sell a stake in an Internet search firm before he learned the stake was about …
Burberry CEO: China 2012 luxury slowdown maybe not temporary
PARIS (Reuters) – China’s slowdown last year was perhaps more than just a passing phase for the luxury goods sector, the head of British fashion house Burberry told French newspaper Les Echos in an interview published on Monday.
VW labor chief backs UAW union bid for U.S. works council
BERLIN (Reuters) – Volkswagen’s top labor leader lent weight on Monday to efforts by U.S. union UAW to represent workers at the German company’s U.S. plant, an issue that has raised hackles among some U.S. politicians and other critics of UAW.
