Police raid Geneva offices of Steinmetz-linked company
GENEVA/LONDON (Reuters) – Swiss police on Thursday searched the Geneva offices of Onyx Financial Advisors, a company providing management services for BSGR, the mining arm of Israeli billionaire Beny Steinmetz’s business empire, an Onyx spokesman said….
Bank of Canada seen hiking rates in fourth quarter of 2014: poll
(Reuters) – The Bank of Canada will likely keep interest rates at their current low level until the fourth quarter of 2014, according to economists in a Reuters poll, even though there are strong signs the U.S. Federal Reserve could soon start scaling …
GDP growth beats forecasts; may boost case for Fed move
WASHINGTON (Reuters) – The U.S. economy accelerated sharply in the second quarter thanks to a surge in exports, bolstering the case for the Federal Reserve to wind down a major economic stimulus program.
AMR bankruptcy judge leans toward reorganization plan approval
NEW YORK (Reuters) – A U.S. bankruptcy judge on Thursday hinted he would approve AMR Corp’s bankruptcy exit plan despite the government’s challenge to its main component: AMR’s planned megamerger with US Airways Group Inc .
China’s Xiaomi poaches Google’s Barra to power global drive
SAN FRANCISCO (Reuters) – Xiaomi Tech, a fast-growing Chinese maker of cheap smartphones, has hired senior Google Inc Android executive Hugo Barra to spearhead its nascent global expansion.
Zurich chairman Ackermann quits over CFO suicide
ZURICH (Reuters) – Josef Ackermann, the former head of Deutsche Bank , resigned on Thursday as chairman of Zurich Insurance over the apparent suicide of the Swiss insurer’s finance chief.
Yellen a better Fed chief for workers: labor leader
WASHINGTON (Reuters) – Labor unions would prefer to see Federal Reserve Vice Chairwoman Janet Yellen as the head of the U.S. central bank over former White House economic adviser Lawrence Summers, a top labor leader said on Thursday.
Activism in energy sector creates obstacles for M&A
NEW YORK (Reuters) – When hedge fund TPG-Axon launched its activist campaign at U.S. oil and gas company SandRidge Energy Inc last year, the activist investor laid out hopes that the company could explore a sale.
Exclusive: Cadillac plans barrage to compete with German luxury brands
DETROIT (Reuters) – General Motors Co’s Cadillac brand is planning to expand its portfolio of premium crossover vehicles by 2017, in part to better compete with similar high-end offerings from German competitors.
U.S. bank industry profits hit record $42.2 billion in second quarter
WASHINGTON (Reuters) – U.S. bank earnings rose to a record-high $42.2 billion during the second quarter as trading income jumped and banks reduced the funds they set aside in case of losses.
