The Treasury Secretary Jacob Lew warned Wednesday that the government will have no more flexibility after October 17 to operate under the US debt cap. Lew told Congress that after months of juggling spending to meet government commitments without added…
Broker Icap on Wednesday said it had settled with British and US regulators to pay fines totalling $87 million (64 million euros) after staff attempted to manipulate a Libor inter-bank lending rate. The US Department of Justice (DoJ) said in a separate…
New orders for manufactured durable goods in August increased $0.3 billion or 0.1% to $224.9 billion, the U.S. Census Bureau reports. … Read more
THE French are steeling themselves for yet more tax increases when the finance minister, Pierre Moscovici, unveils the 2014 budget on September 25th. The government is planning an extra €3 billion ($4 billion) of taxes next year, which will push up…
Sept. 24 (Bloomberg) — Cliff Asness, co-founder of AQR Capital Management, and Lawrence Schloss, chief investment officer for New York … Read more
The fate of a Canadian gold mine project in the heart of Transylvania that has sparked public anger and massive protests hangs on a river protected by European law, Romanian Environment Minister Rovana Plumb said Tuesday. Canadian company Gabriel Resources…
JPMorgan Chase has offered to pay about $3 billion to settle an array of pending Justice Department probes, The Wall Street Journal reported Tuesday, citing a person familiar with the discussions. The Justice Department argued JPMorgan would need to…
India’s giant Tata Motors announced Tuesday it is closing its Spanish bus and coach manufacturing factory next month due to “huge losses” in a shrinking European market. The shutdown of the Tata Hispano Motors Carrocera plant in Zaragoza, after it racked…
Shares in Japanese bathroom giant Lixil Group tumbled Tuesday following a report it is in advanced talks to buy Germany’s Grohe for more than $4 billion. The Wall Street Journal quoted several people close to the deal as saying Lixil — which groups…
Energy giant Wintershall, Germany’s largest producer of crude oil and natural gas, will invest $3.35 billion to drill for oil in southern Argentina, sources here said Tuesday. Under the 10-year deal, Wintershall, which is owned by BASF, will search…
A Chinese state investment vehicle has taken a 12.5-percent stake in Russia’s leading potash producer Uralkali, the company said on Tuesday, in a new sign of China’s interest in the fertiliser. “On 24 September, 2013 the company was notified by Chengdong…
China will on Sunday open its first free trade zone, an ambitious effort to transform its commercial centre of Shanghai into a global hub, state media reported on Tuesday. The project — which received official approval last month — will allow liberalised…
Component shortages during ongoing strikes have severely slowed car production at major manufacturers in South Africa, auto companies said Tuesday. Volkswagen, Ford, Mercedes and Toyota reported stopped or limited production since Monday, while General…
The European Union and Japan will speed up talks towards achieving what could be one the world’s biggest free trade deals, European Trade Commissioner Karel De Gucht said on Tuesday. “The EU-Japan trade agreement remains a key priority and we hope to…
Sweden’s Volvo Group, the world’s second biggest lorry manufacturer, announced Tuesday a 5 billion kronor (580 million euros, $780 million) restructuring plan over two years. “The programme encompasses both reduction of white collar employees and consultants…