U.S. citizen detained amid Chinese pharma investigation
BEIJING (Reuters) – An American has been detained in connection with investigations sparked by an unfolding corruption scandal in the pharmaceuticals industry in China, a U.S. embassy official said on Tuesday.
Travelers profit up 85 percent as disaster losses decline
(Reuters) – U.S. insurer Travelers Cos Inc posted an 85 percent rise in quarterly profit, helped by lower disaster losses.
Vodafone says would consider Verizon offer
LONDON (Reuters) – The chairman of the world’s second-largest mobile operator Vodafone said that the group would seriously consider any offer for its stake in its U.S. joint venture Verizon Wireless, but that there was nothing new to announce on Tuesda…
Greek shipowner Restis arrested over bank loans
ATHENS (Reuters) – Greek shipowner Victor Restis was arrested on Tuesday on suspicion of money laundering and embezzlement, police and court officials said, becoming one of just a few prominent businessmen to be arrested since Greece sank into crisis.
China moves send world shares higher, dollar softens
LONDON (Reuters) – World shares pushed on towards five-year highs on Tuesday, helped by China’s efforts to avoid a hard landing for its slowing economy, while gold took a breather after its biggest one-day gain in more than a year.
China must deepen reforms to meet economic challenges: president
BEIJING (Reuters) – China must deepen reforms to address a slew of challenges confronting it, President Xi Jinping said in comments published on Tuesday that emphasize the government’s determination to restructure the slowing economy.
Most big U.S. tech groups slip European tax net
LONDON (Reuters) – Most big U.S. technology companies cut their tax bills by not declaring a tax residence in their main European markets, preventing tax authorities in those countries from even assessing their income, a Reuters analysis of hundreds of…
KPN’s 8 billion euros deal with Telefonica tests Europe antitrust stance
BRUSSELS/MADRID (Reuters) – Dutch telecoms group KPN will sell its German unit to Telefonica Deutschland for some 8.1 billion euros ($11 billion) in cash and shares, in a long-awaited deal that will test regulators’ views in Europe’s largest mobile mar…
Worthless land could prolong Spanish banks’ property woes
MADRID (Reuters) – Spanish banks may have to swallow more losses to shake off the legacy of a property crash, real estate experts warn, as they struggle to sell plots of land that have ended up on their books and which are now worth less than many have…
U.S.-led trade talks gain heft, complexity as Japan joins
KUALA LUMPUR (Reuters) – Japan joined U.S.-led trade talks on Tuesday, adding its weight to a pact that covers two-fifths of the world economy but raising further doubt over whether negotiators can prise open sensitive sectors such as farm goods and st…
