Rise in mortgage rates cuts into home buyer demand
NEW YORK (Reuters) – Expectations the Federal Reserve will slow its economic stimulus program by the end of the year pushed mortgage rates higher last week, sapping demand from potential home buyers, data from an industry group showed on Wednesday.
Switzerland to help banks avoid U.S. tax charges
ZURICH (Reuters) – Swiss banks will be allowed to cooperate with U.S. authorities under a government plan agreed on Wednesday aimed at saving the industry from criminal charges of helping Americans evade tax.
Alliance Pharma says unlikely to regain full market share for ImmuCyst
(Reuters) – Britain’s Alliance Pharma does not expect bladder cancer drug ImmuCyst to regain the 90 percent market share it held in the UK as the company gets ready to restart supplies that were halted last year due to problems at a plant.
Service sector growth slows to three-year low in June: ISM
NEW YORK (Reuters) – The pace of growth in the services sector slowed in June to its weakest level in over three years as new orders nearly stalled, though a jump in employment provided an encouraging sign for the labor market.
EU lawmakers soften demands to control fund manager pay
STRASBOURG, France (Reuters) – European lawmakers called on Wednesday for rules to limit the cash bonus paid to fund managers, but shied away from demanding the strict bonus caps that they pushed through for bankers earlier this year.
Airbus reports 722 net orders, 295 deliveries in H1
PARIS (Reuters) – European plane-maker Airbus, a subsidiary of EADS , on Wednesday reported 722 net orders and 295 deliveries for the first six months of 2013.
Weaker global markets, M&A slump to hit Wall Street bank profits
NEW YORK (Reuters) – The second quarter was likely tough for Wall Street bank profits as markets weakened globally and merger advisory revenue dropped, leading analysts to lower their profit estimates in recent days.
Big shareholder Crest ends battle with Sprint over Clearwire
(Reuters) – Crest Financial, which owns a big stake in Clearwire Corp, said on Wednesday it is backing Sprint Nextel Corp’s purchase of the rest of Clearwire, ending a protracted and noisy fight over the wireless service provider.
U.S. private sector adds 188,000 jobs in June: ADP
NEW YORK (Reuters) – U.S. private employers added 188,000 jobs in June, exceeding economists’ expectations, a report by a payrolls processor showed on Wednesday.
Trade deficit widens sharply as imports rise
WASHINGTON (Reuters) – The trade deficit widened sharply in May, as stronger U.S. demand pulled in more imports from China and the rest of the world and sluggish growth abroad pushed exports lower, a U.S. government reported showed on Wednesday.
