Japan consumer mood slips in challenge to Abenomics
TOKYO (Reuters) – Japanese consumer confidence slipped in June for the first time in six months as consumers reported slowing income growth and rising prices, exposing the challenges to Prime Minister Shinzo Abe’s plan to revive the economy by generati…
KKR tops rivals with largest Asia fund as valuations drop
HONG KONG (Reuters) – A record $6 billion Asia fund announced by U.S. private equity firm KKR & Co on Wednesday will be deployed at a time when an economic slowdown and emerging market sell-off has knocked the overall value of Asia Pacific corporations to historic lows.
JPMorgan review finds errors in debt-collection lawsuits: WSJ
(Reuters) – JPMorgan Chase & Co made mistakes while suing thousands of its credit card customers over non-payments, the Wall Street Journal reported, citing the bank’s internal review of its debt-collection process.
Analysis: Old normal for bonds rather than fragile new world
LONDON (Reuters) – The global bond market shock of recent weeks may be closer to an ‘old normal’ than some new world of fragile, over-regulated markets posited by many banks and brokers to explain the rout.
Freeport Indonesia resumes underground mining, shipments
JAKARTA (Reuters) – Freeport McMoRan Copper and Gold Inc has resumed copper shipments from its Grasberg mine in Indonesia as it restarts open-pit and underground mining, but expects output this year to drop by a fifth following a near two-month stoppag…
UBS once again the world’s largest private bank as assets surge
ZURICH (Reuters) – UBS won back the title of largest private bank in the world as inflows of fresh client funds surged last year, indicating restored confidence following the financial crisis, according to a study.
Exclusive: Vanguard nets $40 billion from funds that switched benchmark
BOSTON (Reuters) – Vanguard Group Chief Executive William McNabb on Tuesday said the No. 1 U.S. mutual fund company had accumulated $40 billion in net assets during the first half of the year from the funds that switched away from benchmarks provided b…
Fed Chairman Bernanke should not testify in AIG bailout lawsuit: U.S.
(Reuters) – The Federal Reserve chairman should not testify in the lawsuit by American International Group Inc’s former chief Maurice “Hank” Greenberg against the United States over the insurer’s 2008 bailout, the U.S. Department of Justice said.
Microsoft reports hackings linked to report by Google researcher
BOSTON (Reuters) – Microsoft Corp said hackers have attacked some computers by exploiting a bug in Windows first disclosed two months ago by a Google Inc researcher, who came under fire at the time for publicizing the flaw without going to the software…
Wall Street rises for fourth day on earnings hope, FedEx jumps
NEW YORK (Reuters) – Stocks rose for the fourth session in a row on Tuesday as investors bet that companies will be able to surpass the low bar set for earnings season, leaving room for better-than-expected results that could drive the rally further.
