BoE: no action now on housing, to focus on hedge fund rate risks
LONDON (Reuters) – Britain’s housing recovery does not require any action from regulators but will need to be watched closely, the Bank of England’s Financial Policy Committee said on Wednesday.
Volkswagen steps up southern China push with Guangdong expansion
FOSHAN, China (Reuters) – Volkswagen AG plans to double production capacity at a newly opened factory in the southern Chinese city of Foshan, its China chief executive said on Wednesday, as Europe’s No.1 carmaker ramps up efforts to grab more market sh…
Top EU banks have Basel capital shortfall of 70 billion euros
LONDON (Reuters) – The top 42 banks in the European Union would need an extra 70.4 billion euros ($95 billion) of capital to comply with new rules that take full effect in 2019, the bloc’s banking watchdog said on Wednesday.
Monte Paschi shares down after turnaround plan delayed
MILAN (Reuters) – Shares in Italian lender Banca Monte dei Paschi di Siena opened lower on Wedensday after the bank’s board delayed approval of a new restructuring plan aimed at winning a greenlight from the European Union for a state bailout.
Australia’s Telstra to cut 1,100 jobs
CANBERRA (Reuters) – Australia’s largest phone company, Telstra Corp Ltd , said on Wednesday it will cut 1,100 jobs, or around 3.6 percent of its Australian workforce, by mid-2014 as part of a company-wide restructuring.
Airbus secures commitments for 43 A320s from two new Chinese airlines
BEIJING (Reuters) – Airbus has secured commitments for more than 40 of its A320 family of aircraft from two new Chinese airlines, the company said at an industry event.
German consumer morale hits highest level in six years: GfK
BERLIN (Reuters) – German consumer confidence rose to its highest level in six years heading into October, supporting expectations strong consumer spending will help Europe’s largest economy to post moderate growth in 2013.
Airbus launches new version of A330-300 jet in China
BEIJING (Reuters) – Airbus unveiled a short-range “regional” version of its A330-300 jet at an airshow in China on Wednesday, saying the new plane would seat 400 passengers and offer cost savings of 15 percent.
Lufthansa CEO says open to forming alliance with Gulf carriers
SEEHEIM, Germany (Reuters) – Lufthansa is leaving the door ajar to forming an alliance with any of the Gulf airlines, the German carrier’s chief executive said, even though currently it sees no benefit in a partnership.
Consumer groups sue U.S. over delay in backup camera rule
DETROIT (Reuters) – A group of consumer advocates sued the U.S. Department of Transportation on Wednesday for repeatedly delaying a potentially life-saving rule requiring backup cameras in new cars sold in the United States.
