Indian rupee hits record low before central bank lends support
MUMBAI (Reuters) – The Indian rupee fell past 64 to the dollar for the first time on Tuesday and bond yields spiked to a five-year high before the central bank stepped in to support the currency, as Asia’s third-largest economy bore the brunt of the gl…
Riggio suspends plan to make offer for Barnes & Noble stores
(Reuters) – Barnes & Noble Inc’s chairman, founder and top shareholder Leonard Riggio said on Tuesday he has suspended his efforts to make an offer for the company’s retail business.
Exclusive: Goldman Sachs’ inside track on the U.S. oil-by-rail boom
NEW YORK (Reuters) – While the role of Goldman Sachs Group Inc in global metals markets has fallen under a harsh regulatory spotlight this summer, the bank has also quietly enjoyed a privileged front-row seat to one of the most dynamic trading trends t…
Deutsche Wohnen bids $2.3 bln for property rival GSW
FRANKFURT (Reuters) – Deutsche Wohnen offered to buy rival property group GSW Immobilien for 1.75 billion euros ($2.3 billion) to expand in Berlin’s booming real-estate market, as a tentative pick-up in Europe’s economy attracts international investors…
Fed unease sends shares to one-month low, emerging markets suffer
LONDON (Reuters) – World shares sank to their lowest level in more than a month and emerging markets endured another wave of selling on Tuesday, as unease about an expected cut in U.S. stimulus and related gains in bond yields left investors on edge.
China oil imports to overtake U.S. by 2017: WoodMac
LONDON (Reuters) – China will overtake the United States as the world’s biggest crude oil importer by 2017 as Chinese motorists drive domestic oil demand higher, consultancy Wood Mackenzie said on Tuesday.
BHP delays $14 billion Canada potash push as profit drops
MELBOURNE (Reuters) – BHP Billiton’s new chief has put his stamp on the top global miner, mapping out a cautious approach to expanding into the potash market, which it sees as its next big growth business beyond 2020.
Kia Cadenza beats Toyota Avalon in Consumer Reports list of large sedans
DETROIT (Reuters) – Kia Motors Corp’s Cadenza debuted on Tuesday in second place on Consumer Reports magazine’s list of top large sedans, edging out the former standard-bearer in the segment, the gasoline-powered version of Toyota Motor Corp’s Avalon.
ECB’s Asmussen to check up on Greek reform progress
FRANKFURT (Reuters) – European Central Bank Executive Board member Joerg Asmussen will visit Greece on Wednesday to discuss progress on reforms needed to ensure more bailout money, the ECB said.
Former executive from China Mobile parent under investigation
(Reuters) – A former senior executive from China Mobile Ltd’s state-owned parent is being investigated for “severe discipline violations,” coming at a time when a slew of investigations is gripping the country’s corporate sector.
