India unexpectedly raises rates; trims rupee support steps
MUMBAI (Reuters) – Reserve Bank of India Governor Raghuram Rajan surprised markets in his maiden policy review on Friday by raising interest rates to ward off rising inflation, while scaling back some of the emergency measures recently put in place to …
Global shares hold at five-year high after Fed stimulus boost
LONDON (Reuters) – World shares steadied at a five-year high on Friday and bond and commodity markets were consolidating a week of major gains after the U.S. Federal Reserve’s shock decision to keep its flow of stimulus steady.
Ford to halt Romania production on slow EU demand
BUCHAREST (Reuters) – The Romanian unit of U.S. carmaker Ford Motor Co will halt production for 13 days in October, following a planned one week stoppage this month, due mainly to weak demand on the European market, it said on Friday.
Not lifting U.S. debt ceiling would be ‘dumb’: Buffett
NEW YORK (Reuters) – Billionaire investor Warren Buffett said that politicians not lifting the U.S. debt ceiling would be “pretty damn dumb” and viewed a prolonged political standoff on the issue as “disturbing.”
Ryanair pledges to end ‘abrupt culture’ to win new customers
DUBLIN (Reuters) – Ryanair , Europe’s biggest budget airline, has promised to transform its “abrupt culture” in a bid to win customers from costlier rivals, admitting for the first time that it had a significant problem with customer service.
UK watchdog accuses retailers of fixing sports bra prices
LONDON (Reuters) – Britain’s three biggest department stores colluded with a lingerie manufacturer to fix the price of a market-leading sports bra, a competition watchdog alleged on Friday, raising the possibility of punitive fines.
Japan firms resist Abe’s calls to raise wages: Reuters poll
TOKYO (Reuters) – Japanese companies are largely ignoring Prime Minister Shinzo Abe’s calls for higher wages in the face of an expected sales tax increase, a Reuters poll shows, underscoring the difficulties the government faces in trying to defeat ent…
EU, Singapore finalize details of far-reaching trade deal
BRUSSELS/SINGAPORE (Reuters) – The European Union and Singapore have finalized the details of one of the world’s most comprehensive free trade agreements, a pact the EU sees as a stepping stone towards a wider deal with booming economies in Southeast A…
UK estate agent Foxtons makes $1.3 billion share market debut
LONDON (Reuters) – British estate agent Foxtons enjoyed a strong share market debut on Friday with early trading giving the firm a market value of over 788 million pounds ($1.27 billion), despite some concerns that its core property market is overheati…
RBS raises 630 million pounds in Direct Line share sale
LONDON (Reuters) – State-backed Royal Bank of Scotland said on Friday it raised 630 million pounds ($1 billion) by selling a 20 percent stake in Direct Line , the latest stage in an EU-ordered disposal of Britain’s biggest motor insurer.
