Commerzbank says took hit on Detroit exposure in second quarter
FRANKFURT (Reuters) – Commerzbank Chief Financial Officer Stephan Engels said the default of Detroit had dented second-quarter earnings, adding that the lender had made “adequate” provisions.
Russia’s Megafon to buy 4G provider Scartel for $1.2 billion
MOSCOW (Reuters) – Megafon , Russia’s second-biggest mobile phone operator, is to buy next-generation service provider Scartel for $1.2 billion to extend its lead in the race to provide high-speed internet.
Volatile China commodities imports rebound in July
BEIJING (Reuters) – China’s imports of crude and iron ore rebounded from multi-month lows to hit record highs in July, as more raw materials were shipped in to rebuild depleted stocks, amid tentative signs of stabilizing activity in the world’s second-…
BOJ’s Kuroda warns against easing up on fiscal discipline
TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda on Thursday stressed that the Japanese government must keep up efforts to restore the country’s fiscal health.
Italy parliament approves youth jobs measures, sales tax delay
ROME (Reuters) – Italy’s parliament has given final approval to measures to tackle the country’s record-long recession, including tax breaks for firms that hire young people and a delay to a planned sales tax increase.
Costco July same-store sales miss estimates
(Reuters) – Costco Wholesale Corp reported July same-store sales that missed analysts’ estimates, hurt by a stronger dollar that pulled in weak sales from its overseas stores.
NY Times publisher says newspaper not for sale: NYT
(Reuters) – The New York Times is not for sale, its controlling family and publisher have said, the newspaper reported after a week in which both The Boston Globe and The Washington Post were purchased by new owners.
BoE’s Carney says banks must continue to strengthen balance sheets
LONDON (Reuters) – The Bank of England needs to ensure that Britain’s banks change their culture and further strengthen their financial safety nets, new governor Mark Carney said on Thursday.
Rupee over 60: Why Indian currency weakness may be here to stay
As India’s rupee hits record lows, some investors see it headed towards the mid-60s against the dollar, a reflection of weak economic fundamentals and expectations the government will struggle to implement meaningful measures to reverse capital outflow…
Macau casinos bet on China’s rising middle class
HONG KONG (Reuters) – The game is changing for casinos in Macau, the world’s gambling capital, as fun-seeking middle-class Chinese visitors follow high-roller VIP gamblers in ever greater numbers to try their luck in the only place in China where casin…
