IMF’s Lagarde says U.S. budget cuts ‘inappropriate’
AIX-EN-PROVENCE, France (Reuters) – The U.S. federal budget cuts are an inappropriate measure that will weigh on potential growth, IMF chief Christine Lagarde said on Sunday, urging Washington to present “credible” fiscal plans.
EU’s Rehn welcomes ECB’s rates forward guidance
AIX-EN-PROVENCE, France (Reuters) – The EU’s top economic official welcomed on Sunday guidance by the European Central Bank on low interest rates in the euro zone, saying the move was needed to preserve the recovery of the bloc’s economy.
Fearing contamination, Chinese pay more for imported infant goods
SHANGHAI (Reuters) – Sophie the Giraffe is a teething toy taking over the world one baby mouth at a time. The toy, handmade in France from Malaysian rubber sap, is the rage for parents of toddlers the world over, including China.
Ecuador says China’s CNPC joins $12 billion refinery project
QUITO (Reuters) – China National Petroleum Corp (CNPC) has agreed to help finance the construction of a $12 billion refinery project in Ecuador, the South American country’s government said on Saturday.
Former Standard Chartered chief eyeing Lloyds stake buy: Sky
LONDON (Reuters) – Former Standard Chartered chief executive Mervyn Davies is forming a consortium of sovereign wealth funds and financial institutions to buy as much as half of Britain’s 20 billion pound ($29.77 billion) stake in Lloyds Banking Group …
Renault-Nissan CEO sees 100,000 electric vehicles sold end-June
AIX-EN-PROVENCE, France (Reuters) – French carmaker Renault and its Japanese partner Nissan will have sold a total of 100,000 electric vehicles so far by the end of June, Carlos Ghosn, chief executive of both companies, said on Saturday.
Deutsche Bank CFO sees no capital transfer to U.S. unit: paper
BERLIN (Reuters) – Germany’s Deutsche Bank will not need to transfer capital holdings to its U.S. subsidiary to meet the U.S.’s stricter regulatory requirements, Boersen-Zeitung reported on Saturday, citing an interview with finance chief Stefan Krause…
Canadian quotas sweeten profits for U.S. maple syrup farmers
(Reuters) – For Vermont farmers Cecile and Tom Branon, the decade-long maple syrup boom allowed them to sell their 150 dairy cows and convert a team of working horses to pets while they focused on expanding their lucrative sugaring operation.
Chile annual inflation speeds up in June to 1.9 percent
SANTIAGO (Reuters) – Chile’s consumer price index rose 0.6 percent in June, the biggest increase in eight months and slightly above expectations as costs jumped for accommodation, electricity, fuel products and water, the government said on Saturday.
Siemens, Swiss rail company Stadler mull joint venture: magazine
BERLIN (Reuters) – German engineering group Siemens and Swiss rail company Stadler are considering a joint venture to bundle all business projects in short and long-distance traffic, Wirtschaftswoche reported, without citing the source of the informati…
