| | |
| U.S. fiscal cliff, Europe's debt woes worry G20 Sunday, Nov 04, 2012 07:57 PM PST  MEXICO CITY (Reuters) - Leading world economies pressed the United States on Sunday to act decisively to avert a rush of spending cuts and tax hikes, warning that the so-called fiscal cliff is the biggest short-term threat to global growth. Unless a fractious Congress can move swiftly to reach a deal after the U.S. elections on Tuesday, about $600 billion in government spending cuts and higher taxes are set to kick in from January 1 and could push the U.S. economy back into recession. "If the United States fails to resolve the fiscal cliff it would hit the U.S. ... Full Story | Top |
| Hyundai, Kia mileage fiasco seen as key test; shares dive Sunday, Nov 04, 2012 07:43 PM PST SEOUL (Reuters) - Hyundai Motor Co's and Kia Motors Corp's admission that they overstated the fuel economy of some cars will be a crucial test for the two, and may taint the reputation of the automakers that had enjoyed a decade of unbroken success in the United States. Shares in the two South Korean automakers tumbled 7 percent on Monday as investors fretted about the blow to their brands, the potential for lawsuits, as well as the cost of compensating customers. The overstating affects more than a million vehicles. The U.S. ... Full Story | Top |
| Asian shares ease on caution before U.S. election Sunday, Nov 04, 2012 07:23 PM PST  TOKYO (Reuters) - Asian shares fell on Monday and the dollar firmed as investors shied away from risk ahead of the closely fought U.S. presidential election and looked past strong U.S. jobs data to fragile economic growth prospects worldwide. The MSCI index of Asia-Pacific shares outside Japan fell 0.3 percent, retreating from its highest level since October 23 touched on Friday. Japan's Nikkei average eased 0.3 percent, after closing at a one-week high on Friday. South Korean shares dropped 0.7 percent and Hong Kong's Hang Seng index was down 0. ... Full Story | Top |
| Portugal, Greece seek technical advice from World Bank: Kim Sunday, Nov 04, 2012 07:18 PM PST MEXICO CITY (Reuters) - Greece and Portugal have sought technical advice from the World Bank to help their economies recover from deep fiscal crises and talks are at the early stages, bank President Jim Yong Kim said on Sunday at the G20 meeting in Mexico. It is the first time in recent history that developed countries have turned to the World Bank for advice, a major shift for an institution known for its work in the world's poorest nations. "For both Portugal and Greece we are in the very early stages of conversation," Kim told reporters on the sidelines of the G20 meetings. ... Full Story | Top |
| Goldman Sachs trims partner list to help cut expenses Sunday, Nov 04, 2012 07:15 PM PST  (Reuters) - Goldman Sachs Group Inc has cut the number of employees it lists as partners to help streamline expenses. Goldman has reduced the number of partners to 407, down 31 from February, the bank said in a filing with the U.S. Securities and Exchange Commission, without identifying the partners that had been dropped. Becoming a Goldman partner is a coveted title on Wall Street because of its prestige and lucrative compensation. Fewer partners were named this year because of a broad decline in Goldman's staff levels. ... Full Story | Top |
| Canada says "close" to eliminating deficit on schedule Sunday, Nov 04, 2012 06:41 PM PST  MEXICO CITY (Reuters) - Canada will report within two weeks that it is "close" to meeting its target of eliminating the budget deficit in 2015-16, Finance Minister Jim Flaherty said on Sunday, suggesting Ottawa may still be a few billion dollars in the red at that time. Canada ran a fiscal surplus for over a decade prior to the global financial crisis, but then fell into deficit as it injected cash into the economy to stimulate growth. In 2009, the Conservative government pledged to balance the books again in 2015-16 through government spending cuts and economic growth. ... Full Story | Top |
| HSBC profits to gain from cuts to bad debts, costs Sunday, Nov 04, 2012 05:14 PM PST  LONDON (Reuters) - HSBC Holdings is expected to report a jump in quarterly profits on Monday as lower losses from bad debts and a cost-cutting plan outweigh mis-selling charges and the impact of tough economic conditions across the world. Europe's biggest bank will be the last of Britain's major lenders to report and all are facing intense scrutiny on how far they are streamlining operations, the impact of tougher regulations, and their standards as they get hit with fines and compensation charges for past misconduct. ... Full Story | Top |
| Toyota set to raise profit outlook but still much work to do Sunday, Nov 04, 2012 04:50 PM PST  TOKYO (Reuters) - Toyota Motor Corp is set to tweak its full-year profit forecasts higher, local media reported, in revisions that will come with a likely trebling of quarterly profit to almost $3 billion. Even so, it's too early to say it has emerged from years of crisis. Toyota will likely lift its annual operating profit forecast by 5 percent to 1.05 trillion yen ($13 billion) and nudge up its net profit outlook on strong sales in North America and Southeast Asia as well as cost cuts, public broadcaster NHK said. Toyota shares rose 1. ... Full Story | Top |
| American Airlines pilots union close to finalizing labor deal Sunday, Nov 04, 2012 04:09 PM PST (Reuters) - A negotiating committee representing American Airlines pilots union said on Sunday it is close to finalizing contract language for a labor deal with airlines management. It expects to present a final product to the union board later this week. The board would then review the contract, and if approved, would send it to union members for a ratification vote. Remaining points of the contract which have not yet been agreed upon include language around pay, furlough protection and outsourcing work to pilots who are not represented by the American Airlines union, the group said. ... Full Story | Top |
| G20 summit meeting in Mexico Sunday, Nov 04, 2012 03:53 PM PST The following are highlights of comments by leaders and officials at the Group of 20 finance ministers and central bankers meeting in Mexico City on Sunday. For a TAKE A LOOK of the G20 meeting: JAPANESE FINANCE MINISTER KORIKI JOJIMA "I'll tell the G20 about Japan's economic situation as we are at a critical stage of rebuilding (from last year's quake). Of course we'll assert our stance on global economy as well. ... Full Story | Top |
| Australia's Swan says China still supporting global growth Sunday, Nov 04, 2012 03:37 PM PST MEXICO CITY (Reuters) - China will continue to buoy the global economy even if the Asian giant's growth stabilizes at current levels of 7-8 percent a year, Australian Treasurer Wayne Swan said on Sunday. Swan, in Mexico to attend meetings of Group of 20 finance ministers and central bankers, said a lack of growth was weighing on the global outlook and urged policymakers to act swiftly to fix problems. But he said China's slowdown from breakneck growth rates of more than 14 percent in mid-2007 to an expected 7.5 percent this year had been misrepresented. ... Full Story | Top |
| G20 may punish bank capital reform delinquents: officials Sunday, Nov 04, 2012 02:59 PM PST MEXICO CITY (Reuters) - The world's biggest economies will soon discuss how to punish countries that fail to implement tougher new bank rules in a crucial test of their resolve to prevent another financial crisis, officials said. Countries that miss the deadline for introducing new rules -- called Basel III -- could be named and shamed as the world's top policy makers try to sew up reforms to ring-fence the global economy from problems at financial institutions. ... Full Story | Top |
| Drugmakers offer to cap Greece's medicines bill Sunday, Nov 04, 2012 02:39 PM PST LONDON (Reuters) - International drug companies have offered to cap the total amount the Greek government has to pay for its medicines in a bid to resolve a crisis that is jeopardizing both the supply of drugs to patients and drugmakers' profits. The proposal was set out by the trade group the European Federation of Pharmaceutical Industries and Associations (Efpia) in a letter to the Greek ministers of health and finance, a copy of which was seen by Reuters. In exchange for a ceiling on outpatient pharmaceutical expenditure of 2.88 billion euros ($3. ... Full Story | Top |
| U.S. gasoline prices post biggest fall in nearly 4 years: survey Sunday, Nov 04, 2012 02:08 PM PST NEW YORK (Reuters) - The average U.S. price for a gallon of regular gasoline took its biggest drop since 2008 in the past two weeks, due to lower crude oil prices, a big price drop in pump prices in California and Hurricane Sandy, according to a widely followed survey released on Sunday. Gasoline prices averaged $3.5454 per gallon on November 2, down 20.75 cents from October 19 when drivers were paying $3.7529 at the pump, Lundberg said. The decline was the biggest two-week price drop since the survey recorded a 21. ... Full Story | Top |
| France could cut labour charges for some sectors: minister Sunday, Nov 04, 2012 01:59 PM PST  PARIS (Reuters) - The French government could propose cutting labour charges for selected sectors and companies as part of its plan to kickstart competitiveness, the junior minister for small and medium-sized business said on Sunday. In an interview with TV channel France 5, Fleur Pellerin said small-to-medium enterprises will play an important role in a government plan due to be outlined on Tuesday, the day after the publication of a government-commissioned report by industrialist Louis Gallois on how to improve competitiveness. ... Full Story | Top |
|
No comments:
Post a Comment