Analysis: Sober summer markets may defuse September strife
LONDON (Reuters) – Investors have been braced for a stormy September for so long now it’s getting difficult to see this month’s stiffening gales blowing them off course for long.
India services activity shrinks again in August, weakest since 2009
BANGALORE (Reuters) – Indian services activity shrank in August at its quickest pace since the depths of the global financial crisis as new business dried up, a survey showed, the latest evidence that Asia’s third-largest economy is rapidly losing stea…
Ford’s Vignale to join European upmarket car chase
FRANKFURT (Reuters) – Ford has drawn on the latest European design trends with its new luxury concept car, tempting the driver with a quilted cream-colored Nappa leather interior to complement its chrome and mocha-hued bodywork.
Savior or slayer? Either way, Nokia’s Elop a contender for Microsoft chief
SEATTLE/HELSINKI (Reuters) – When a British bookmaker installed Stephen Elop as favorite to take over the soon-to-be-vacant CEO slot at Microsoft Corp last week, most tech observers laughed it off as a publicity stunt.
China services PMI at five-month high, adds to signs of recovery
BEIJING (Reuters) – Growth in China’s services sector hit a five-month high in August, underpinned by optimism over government policy measures, a private survey showed, the latest evidence that the world’s second-largest economy may have avoided a shar…
BofA exits stake in China’s CCB with $1.5 billion sale
HONG KONG/NEW YORK (Reuters) – Bank of America Corp raised $1.47 billion by selling its remaining stake in China Construction Bank Corp (CCB) , ending an eight year-old investment that generated a paper profit more than five times the original cost.
Australia economy marks 22 years of growth in Q2
SYDNEY (Reuters) – Australia’s economy grew moderately last quarter as modest gains in consumer and government spending offset a very flat performance elsewhere, though there was still scant sign of a much-needed recovery in business investment.
UAW president pushes for ‘works council’ at VW Tennessee plant
(Reuters) – United Auto Workers President Bob King met with Volkswagen AG and German labor leaders last Friday in an attempt to move toward German-style worker representation at the VW plant in Chattanooga, Tennessee, German union sources said on Tuesd…
Analysis: Under new management, scandal-hit PetroChina changes course
HONG KONG (Reuters) – PetroChina Co Ltd’s days of super-charged spending may be over as the Chinese national oil giant seeks to steer clear of the legacy of former chairman Jiang Jiemin, now under an official corruption probe.
JPMorgan, ex-Bear Stearns managers win dismissal of BofA lawsuit
NEW YORK (Reuters) – JPMorgan Chase & Co and former Bear Stearns Cos managers Ralph Cioffi and Matthew Tannin won the dismissal of a lawsuit in which Bank of America Corp accused them of causing heavy losses by lying in a desperate bid to prop up two failing hedge funds.
