Basel plans to toughens up ‘shadow bank’ capital rule
LONDON (Reuters) – Global regulators proposed on Friday that banks set aside more capital to cover investments in “shadow banks” such as private equity or hedge funds to improve cover for underlying risks.
Basel says how banks add up risks may need reform
LONDON (Reuters) – Global regulators said on Friday the way in which banks add up risks on their main books to determine capital levels varies considerably and changes may be needed.
EU and China close in on solar panel deal: sources
BRUSSELS (Reuters) – The European Union and China are moving towards a deal to defuse a conflict over alleged dumping of solar panels in Europe, people familiar with the matter said on Friday, aiming to agree a minimum price for Chinese importers above…
Portugal president warns of failure to return to markets
LISBON (Reuters) – Portugal’s president warned on Friday that a negative scenario for the country would be if it failed to return to markets as planned in 2014 due to external events or internal politics.
HSBC to exit from retail banking, wealth management in Korea
HONG KONG (Reuters) – HSBC Holdings Ltd , Europe’s biggest bank, will close its retail branch network and wealth management businesses in South Korea, leaving only the global banking and markets unit that serves corporate clients.
Samsung Electronics’ second quarter misses forecast as smartphone worries deepen
SEOUL (Reuters) – Samsung Electronics Co Ltd missed already modest expectations for its quarterly earnings guidance on Friday, deepening worries that its smartphone business may have peaked, as growth in sales of its blockbuster Galaxy phones begins to…
China starts probe into Tetra Pak ‘dominance’: media
SHANGHAI (Reuters) – China is investigating Swedish packaging giant Tetra Pak over the possible “misuse of its market dominance”, state media reported on Friday, as authorities ramp up scrutiny of foreign firms in the world’s second biggest economy.
Uniqlo brings fashion back to the source in Bangladesh
DHAKA (Reuters) – On a bustling Dhaka street full of buyers looking for deals on export rejects and designer fakes, a flight of stairs leads up to an anomaly in a country known for producing international clothing brands – a global high street fashion …
GM’s no-frills “people mover” spins sales in Indonesia
(Reuters) – General Motors Co. is banking on a no-frills “people mover” to help it make inroads into the Japanese-dominated Indonesian car sector, one of Asia’s hottest auto markets.
Steady U.S. job gains to keep Fed’s focus on tapering
WASHINGTON (Reuters) – U.S. job growth probably slowed in June, but not enough to shift the Federal Reserve away from expectations that it will start scaling back its massive monetary stimulus later this year.
