India industrial output tipped to fall, raising stakes for rupee
NEW DELHI (Reuters) – India is expected on Monday to report a second straight contraction in industrial production in June, underscoring the challenge for policymakers to stabilize the battered rupee without hurting economic revival.
Banks test U.S. IRS anti-tax shelter weapon in STARS wars
WASHINGTON (Reuters) – A sharp tool in the U.S. government’s fight against corporate tax shelters will be put to the test in the months ahead as the Internal Revenue Service grapples with four major banks over structured transactions done a decade ago …
Insight: Flip that mansion: investors see riches in luxury U.S. homes
LOS ANGELES (Reuters) – Jan Brzeski stands in a sun-filled, beautifully refurbished living room high in the Hollywood Hills, looking out at a swimming pool and, miles (km) below, stunning views of Los Angeles.
Global Economy: Seeking European signs of sturdier global rebound
LONDON (Reuters) – A tentative view that the global economy is emerging from its lull could harden into conventional wisdom by the end of this week if, as expected, data show the euro zone’s lengthy recession has ended.
Steel Americas cloud hangs over Germany’s ThyssenKrupp
FRANKFURT (Reuters) – Pressure is growing on ThyssenKrupp to shore up its strained balance sheet by raising new capital as talks on selling its loss-making steel mills in the Americas drag on.
UK’s Labour says Tesco and Next shun local workers
LONDON (Reuters) – Britain’s opposition Labour party is to accuse supermarket giant Tesco and clothing retailer Next of turning away British workers where possible to exploit cheaper migrant labour.
For Dell, buyout uncertainty adds to poor PC sales outlook
SAN FRANCISCO (Reuters) – Months of public bickering, secretive backroom negotiations and eleventh-hour deals for control of Dell Inc belie the fact that the combatants are vying for a company facing steadily declining sales prospects.
Analysis: Mexico aims for NAFTA-style growth boost from energy reform
MEXICO CITY (Reuters) – Mexico’s plans to break a 75-year state monopoly on energy could boost flagging growth and double foreign investment, potentially providing the biggest leg-up to its economy since the North American Free Trade Agreement two deca…
Reprivatization of RBS bank ‘unrealistic’ in next five years: UK minister
LONDON (Reuters) – Britain’s largely state-owned Royal Bank of Scotland is unlikely to be reprivatized before 2018, Business Secretary Vince Cable said in an interview published on The Telegraph newspaper website on Saturday.
Analysis: Detroit crisis may give lift to muni bond insurers
NEW YORK (Reuters) – At first glance, it is hard to see Detroit’s bankruptcy filing as anything but another body blow for downtrodden U.S. municipal bond insurers, which could be on the hook to investors for hundreds of millions of dollars in losses on…
