Wall Street slips for third day on Fed uncertainty
NEW YORK (Reuters) – U.S. stocks lost ground for a third consecutive session on Wednesday on growing uncertainty over when the Federal Reserve may start to wind down its stimulus, which has been a driving force behind the rally in equities this year.
New economic signposts needed as China targets consumer-led growth
BEIJING/SYDNEY (Reuters) – Forget electricity production and iron ore imports. China watchers today pore over box office receipts or furniture sales to judge where the country is heading as Beijing plots a course toward consumption-led growth.
Bank of England chief struggles to demystify recovery for Britons
LONDON (Reuters) – If Mark Carney planned his first media outing as ‘superstar’ chief of the Bank of England to reassure the British public of the bank’s efforts to juice up Britain’s weak recovery, he could be back at the drawing board this evening.
Analysis: More than dairy scare needed to topple top pick New Zealand dollar
SINGAPORE/WELLINGTON (Reuters) – A sudden slump in the New Zealand dollar this week as the country’s biggest dairy exporter was hit by a contamination scare put the spotlight on a currency that is one of world’s top investments.
Chic and cheap: China takes shine to South Korean cosmetics
SEOUL (Reuters) – Cosmetics brand Laneige has a French name and luxurious blue-and-white packaging but its legions of fans in China, the world’s third-largest beauty products market, love it because it is South Korean and affordable.
Judge orders BP to pay $130 million fees to Gulf claims program
NEW ORLEANS (Reuters) – BP Plc must pay $130 million to a court-appointed administrator overseeing payments to thousands of people who claimed they were hurt by the 2010 Gulf of Mexico oil spill, a federal judge ruled on Wednesday, in a fresh legal set…
Mondelez profit beats Street; share buyback amount raised
(Reuters) – Mondelez International Inc , the maker of Cadbury chocolate, reported quarterly earnings that topped Wall Street views even while falling from a year earlier and dramatically raised its share buyback authorization on Wednesday.
Potash Corp sees BPC breakup as short term
WINNIPEG, Manitoba (Reuters) – Potash Corp of Saskatchewan Chief Executive Bill Doyle said on Wednesday he doesn’t expect the breakup of Belarusian Potash Co (BPC) to last long, and he disputed predictions that the split would spur a steep potash price…
U.S. consumer credit rises less than expected in June
WASHINGTON (Reuters) – U.S. consumer credit rose less than expected in June, Federal Reserve data showed on Wednesday, as loans for items such as cars and education increased while credit card use fell by the most in a year.
Exclusive: TPG explores $3 billion sale of specialty drugmaker Aptalis
NEW YORK (Reuters) – TPG Capital LP has been exploring a sale of Aptalis Pharma, a specialty drugmaker it has owned since 2008 and values at more than $3 billion, four people familiar with the matter said on Wednesday.
