Recovery hopes leave European shares hovering at two and a half month highs
LONDON (Reuters) – European stocks rose to 2-1/2 month highs on Monday on signs that China’s slowdown has run its course and expectations that data this week will point to the euro zone pulling out of its longest recession on record.
Italian police seize houses, hotels in Fondiaria-Sai probe
MILAN (Reuters) – Italy’s tax police said on Monday they are seizing houses, hotels and other assets totaling 250 million euros ($336 million) as part of an investigation into alleged false accounting and market manipulation by the former owners of ins…
Kenya Airways CEO says losses from airport fire $4 million so far
NAIROBI (Reuters) – Kenya Airways chief executive Titus Naikuni said the airline has so far lost about $4 million in revenue as a result of last week’s fire at Jomo Kenyatta International Airport (JKIA) in Nairobi, local media reported on Monday.
America Movil wants to ‘unlock value’ in KPN: report
AMSTERDAM (Reuters) – Mexican billionaire Carlos Slim’s America Movil wants to ‘unlock value’ from Dutch telecoms group KPN and is not just interested in its German business E-Plus, a Dutch newspaper reported on Monday, quoting the Mexican group’s fina…
China to set up more private banks to help small firms
BEIJING (Reuters) – China’s cabinet has unveiled plans to set up more private banks to boost financial support for cash-starved smaller firms, in the latest bid to bolster the slowing economy.
Wealth advisers pounce on retirement nest eggs of American Air pilots
(Reuters) – When American Airlines dumped about $3.5 billion of retirement money into the laps of its pilots late last month, the winners were the wealth managers who got a piece of the action.
Japan PM adviser Hamada: no need to hurry with sales tax hikes
TOKYO (Reuters) – Japan’s government has no need to hurry to raise the sales tax and could consider delaying its scheduled increase by one year, an adviser to Prime Minister Shinzo Abe said after data showed the economy expanded less than expected in t…
NY regulator issue subpoenas to firms tied to Bitcoin: WSJ
(Reuters) – New York’s top banking regulator has issued subpoenas to several companies associated with Bitcoin as part of an inquiry into business practices of the virtual currency industry, the Wall Street Journal reported, citing people familiar with…
GM plans gradual pullout of South Korea as labor costs surge
SEOUL (Reuters) – General Motors Co. has begun gradually cutting its presence in South Korea after mounting labor costs and militant unionism triggered a rethink of its reliance on the country for a fifth of its global production, three individuals fam…
Japan’s Abe: economy steadily rising, will keep eye on pro-growth policy
TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe said on Monday that the country’s economy is steadily rising since late last year and that the government will continue to focus on the economy with an eye on a pro-growth policy towards autumn.
