Peabody, Glencore Xstrata slash Australian coal mining jobs
PERTH (Reuters) – Peabody Energy Corp and Glencore Xstrata will cut around 500 mining jobs in Australia, a company official and trade publication said on Tuesday, as a global glut in coal supply pushes down prices.
Wal-Mart India head leaves as store rollout struggles
MUMBAI (Reuters) – Wal-Mart Stores Inc , hit by a series of setbacks in its efforts to crack the promising but restrictive India market, said its country head had left the company.
China’s central bank calms markets, but tighter policy looms
SHANGHAI (Reuters) – China’s financial markets calmed down on Wednesday after days of turmoil thanks to the central bank’s pledge to prevent a credit crunch, but stocks struggled as investors braced for tougher conditions in the world’s second-largest …
BoE warns banks of risk of sharp global interest rate rise
LONDON (Reuters) – The Bank of England warned banks and borrowers on Wednesday about risks from a potential abrupt rise in global interest rates, and said banks might need to further bolster their capital cushions to protect against this.
German watchdog says Liberty buying Kabel would be complicated
BONN, Germany (Reuters) – A takeover of Kabel Deutschland by peer Liberty Global would be more complicated from an anti-trust point of view than an acquisition by Vodafone , Germany’s cartel office said on Wednesday.
ECB is ready to act but governments must reform, says Draghi
PARIS (Reuters) – The European Central Bank is ready to take fresh action when needed but its monetary policy cannot create real economic growth, which governments need to support with reforms, ECB President Mario Draghi said on Wednesday.
Direct Line to axe 2,000 jobs in sluggish insurance market
(Reuters) – Britain’s Direct Line Insurance Group Plc , the motor insurer spun out of Royal Bank of Scotland , said it plans to axe about 2,000 positions, joining fellow insurers looking to trim costs and boost profits in a sluggish and competitive mar…
German consumer sentiment at highest in almost six years: GfK
BERLIN (Reuters) – Morale among German consumers rose to its highest level in almost six years heading into July thanks to a robust labor market and strong wage hikes, adding to signs that Europe’s largest economy is slowly recovering after a weak star…
Merck KGaA says liquid crystals momentum to slow in second half
DARMSTADT, Germany (Reuters) – Germany’s Merck KGaA said growth at its liquid crystals business would slow in the second half as its customers, Asian display panel makers, reduce their inventories.
Global supervisors take tough line on bank leverage
LONDON (Reuters) – Global banking regulators have taken a tough line on how much risk banks can take on in a move that will mostly hit those lenders holding large amounts of financial derivatives.
