European flood claims could hit $3.9 billion: Munich Re
FRANKFURT (Reuters) – The floods that engulfed central Europe last month are expected to cost insurers about $3.9 billion and could be Germany’s costliest natural disaster on record, reinsurer Munich Re said on Tuesday.
Japan plans to switch inflation gauge; may up pressure on BOJ
TOKYO (Reuters) – The Japanese government plans to adopt a different measure of inflation to the central bank’s, an official told Reuters, in a move that could mean it will take longer for Japan to be declared free of deflation and give ammunition to p…
Strong auto sales prompt Sirius to raise subscriber outlook
(Reuters) – Sirius XM Radio Inc said Tuesday that the number of people paying for its radio service rose to 25 million in the second quarter, helped by strong auto sales, and it raised its subscriber expectations for the year.
Chinese buyer of London’s Lloyd’s Building faces vacancy risk
LONDON (Reuters) – The new Chinese owner of the landmark Lloyd’s Building in London could face the financial burden of an empty building as the insurance market considers a move out of its high-maintenance home.
India looks to U.S. in struggle to boost FDI and revive rupee
NEW DELHI (Reuters) – India’s finance minister is in the United States this week to drum up investment from the likes of Lockheed Martin, leaving behind a cabinet far from convinced about his plans to revive the economy and a record low rupee.
Ex-Shell executive named CEO at UAE’s Dana Gas
DUBAI (Reuters) – Dana Gas Co , the UAE energy firm that restructured a $920 million Islamic bond in April, named Patrick Allman-Ward, the general manager of its Egyptian operations, as its new group chief executive, Dana said in a statement on Tuesday…
U.S. pick-up pushes shares to one-month high, dollar firm
LONDON (Reuters) – World shares extended gains on Tuesday and the dollar hovered near a three-year high, spurred on by a good start to the U.S. earnings season that added extra gloss to last week’s strong jobs data.
Danone, Biostime cut China infant milk prices amid probe
HONG KONG (Reuters) – French food giant Danone SA said it had cut prices of its baby milk formula products in China by up to 20 percent following an investigation by Beijing into possible price-fixing and anti-competitive behavior in the sector.
Shell names van Beurden as surprise choice for CEO
LONDON (Reuters) – Royal Dutch Shell named head of refining Ben van Beurden to replace chief executive Peter Voser, a surprise appointment to steer Europe’s biggest oil firm through an industry-wide battle to replace reserves and control costs.
Indonesia allows Freeport to restart underground mining
JAKARTA (Reuters) – Freeport McMoRan Copper and Gold Inc received Indonesian government permission on Tuesday to resume underground operations at the world’s second-biggest copper mine, nearly two months after a tunnel cave-in that killed 28 people.
