Steadier China economy offers iron ore hope, but caution stays
SHANGHAI/SINGAPORE (Reuters) – A rally in iron ore prices to five-month highs has spurred optimism a stabilizing economy may help top buyer China absorb rising global supply, prompting some analysts and traders to raise their estimates for the second h…
Finnish adjusted jobless rate 7.7 percent in July
HELSINKI (Reuters) – Finland’s seasonally adjusted unemployment rate was roughly flat at 7.7 percent in July, compared to a revised 7.8 percent in June, Statistics Finland (SF) said on Tuesday.
Lindt growth buoyed by pick-up in Europe, strong U.S.
ZURICH (Reuters) – Swiss chocolate maker Lindt & Spruengli said improving consumer sentiment in its biggest market Europe and buoyant demand in North America helped lift underlying sales by 8.7 percent in the first half of the year.
Detroit bankruptcy challenged on constitutional grounds
DETROIT (Reuters) – Public labor unions took aim at Detroit’s historic bankruptcy filing on Monday, asking a U.S. court to toss the city’s bid for protection from its creditors because it is constitutionally flawed on both the state and federal levels….
Jackson Hole flying little lower this year without Fed chair
WASHINGTON (Reuters) – Central bankers from around the globe gather later this week in Jackson Hole, Wyoming, but for once, the absence of the Federal Reserve chairman means their annual get-together is not likely to spoil the summer vacation of trader…
China to create agency to align financial supervision
BEIJING (Reuters) – China is set to create an agency led by the central bank to coordinate financial supervision, without changing the roles of existing industry watchdogs, the cabinet said on Tuesday.
Oil-by-rail pioneer U.S. Development Group cashing up, not out
NEW YORK (Reuters) – After a major $500 million deal late last year, Texas-based oil-by-rail pioneer Dan Borgen might be forgiven for packing it in.
Judge endorses use of fraud law against Bank of America
NEW YORK (Reuters) – A federal judge has endorsed a broad interpretation of a savings-and-loan era law that the Justice Department is trying to use in cases against Wall Street banks.
Everbright Bank says nepotism played no role in JPMorgan hire: report
SHANGHAI (Reuters) – China Everbright Bank’s decision to hire JPMorgan Chase & Co to underwrite its initial public offering in Hong Kong was not linked to the U.S. bank hiring the son of a high-level executive linked to the Chinese firm, a spokesman for the Chinese bank told state media.
U.S. court gives lawsuit over Barclays disclosures second chance
NEW YORK (Reuters) – A U.S. appeals court on Monday said investors may revive a lawsuit accusing Britain’s Barclays Plc of misleading them in a 2008 stock offering about its subprime mortgage exposure and ability to manage credit risks.
