GM’s Chevy sales chief in Europe sets September exit
DETROIT (Reuters) – General Motors Co said on Friday its Chevrolet and Cadillac sales chief in Europe, where the entire industry has been suffering through a sales slump, is leaving later this year.
EU to decide who pays when banks fail
LUXEMBOURG (Reuters) – The European Union sought on Friday to forge rules to force losses on large savers of failed banks, a taboo that was broken in this year’s bailout for Cyprus.
Exclusive: Blackstone interviewing banks for Brixmor IPO – sources
(Reuters) – Blackstone Group LP is interviewing investment bankers for a proposed initial public offering of its neighborhood shopping center company Brixmor Property Group Inc, according to two people familiar with the process.
China central bank holds line on shadow banking as rates spike
SHANGHAI/BEIJING (Reuters) – China’s central bank faced down the country’s cash-hungry banks on Friday, letting interest rates again spike to extraordinary levels as it increases the pressure on the banks to rein in rampant informal lending and specula…
FAA decision delayed on lifting ban on gadget use on airplanes
WASHINGTON (Reuters) – A Federal Aviation Administration advisory panel weighing whether to ease restrictions on in-flight use of personal technology devices like e-readers has delayed its recommendations by two months until late September, the FAA sai…
Rosneft to double oil flows to China in $270 billion deal
ST PETERSBURG (Reuters) – Russia’s Rosneft agreed a $270 billion deal to double oil supplies to China on Friday, as the Kremlin energy champion shifts its focus to Asia from saturated and crisis-hit European markets.
Exclusive: FINRA beefs up policing of arbitrators
(Reuters) – Wall Street’s industry-funded watchdog said it was beefing up oversight of its 6,500 securities arbitrators after one of them was criminally indicted and suspended from the practice of law but failed to properly disclose those legal run-ins…
Swiss government delays bid to settle U.S. tax dispute
ZURICH (Reuters) – The Swiss government will consider ways to allow the country’s banks to hand over information to U.S. authorities either next Wednesday or a week later, a spokesman said on Friday, later than previously indicated.
Analysis: China cash squeeze exposes risks from short-term funding
SHANGHAI (Reuters) – The mirror that China’s central bank is holding up in front of the country’s banks is providing uncomfortable viewing. Too many banks are reliant on short-term funding markets to survive, and a shake up in the sector is needed.
Michael Dell urges shareholders to support his buyout bid
(Reuters) – Dell Inc’s billionaire founder Michael Dell said he would oppose any leveraged recapitalization of the company and called on stakeholders to vote in favor of his buyout offer, ahead of a shareholder meeting next month.
