Business News

EU leaders push banking union despite German reluctance

By Jan Strupczewski BRUSSELS | Fri Jun 28, 2013 10:45am EDT BRUSSELS (Reuters) - European Union leaders said on Friday they want agreement by the end of the year on a way to resolve failed banks at European rather than a national level, signaling work should go on despite German objections ahead of elections in September. German Chancellor Angela Merkel cast doubt o...

28 Jun 3:11 PM 0 Read More...

Consumer sentiment improves in late June

NEW YORK | Fri Jun 28, 2013 10:39am EDT NEW YORK (Reuters) - U.S. consumer sentiment improved in late June, ending the month close to a near six-year high set in May, as optimism among higher-income families rose to its strongest level in six years, a survey released on Friday showed. The Thomson Reuters/University of Michigan's final reading on the overall index on consume...

28 Jun 3:11 PM 0 Read More...

Switzerland charges man with selling bank's client data to Germany

By Emma Thomasson ZURICH | Fri Jun 28, 2013 10:26am EDT ZURICH (Reuters) - Swiss prosecutors have charged a German IT expert with selling client data from private bank Julius Baer (BAER.VX) in Zurich to the German tax authorities, they said on Friday. The man, who was arrested last July and is charged with breaching banking laws, industrial espionage and money laund...

28 Jun 3:11 PM 0 Read More...

Wall Street falls as technology stocks drag

By Chuck Mikolajczak NEW YORK | Fri Jun 28, 2013 10:23am EDT NEW YORK (Reuters) - Stocks opened lower on Friday, as weakness in technology shares outweighed gains in other shares spurred by relief a premature pullback of central bank stimulus measures was unlikely. The S&P 500 .SPX had risen 2.6 percent over the prior three sessions as economic data and comments...

28 Jun 3:11 PM 0 Read More...

Google reveals new London ‘groundscraper’ HQ

By Tom Bill LONDON | Fri Jun 28, 2013 9:25am EDT LONDON (Reuters) – Google has revealed that its new UK headquarters is a building longer than the Shard skyscraper is tall. The so-called groundscraper at the King’s Cross Central development is the latest overseas property deal by the cash-rich U.S. internet group, which will house al...

28 Jun 2:00 PM 0 Read More...

Upbeat Japan data cheers Nikkei, Asia - gold slumps

By Ian Chua SYDNEY | Thu Jun 27, 2013 11:53pm EDT SYDNEY (Reuters) - Asian shares rose for a third day on Friday led by a sharp rally in Tokyo's Nikkei, which is on track to end the first half of the year up a barnstorming 31 percent. Gold, however, plumbed fresh three-year lows with investors battered and bruised after a 30 percent drop this year. Analysts suspect ...

28 Jun 5:06 AM 0 Read More...

Japan business mood seen turning positive: BOJ tankan

By Leika Kihara TOKYO | Thu Jun 27, 2013 11:44pm EDT TOKYO (Reuters) - Japanese manufacturers' sentiment turned positive in the three months to June for the first time in nearly two years, a closely-watched central bank survey is likely to show on Monday in a sign recent market turbulence has yet to hurt the feel-good mood created by the government's reflationary po...

28 Jun 5:06 AM 0 Read More...

Japan prices stop falling but BOJ inflation goal seen a tall order

By Tetsushi Kajimoto and Kaori Kaneko TOKYO | Thu Jun 27, 2013 11:02pm EDT TOKYO (Reuters) - Japan's consumer prices stopped falling in May and labor demand reached its strongest level in five years, but the Bank of Japan's time frame for achieving a 2 percent inflation target still appears unlikely. Industrial output rose at its fastest pace since 2011, in a sign o...

28 Jun 5:06 AM 0 Read More...

Cengage Learning may file for bankruptcy protection soon: WSJ

Thu Jun 27, 2013 9:10pm EDT (Reuters) - Textbook publisher Cengage Learning Acquisitions Inc may file for bankruptcy protection in the coming days, the Wall Street Journal said, citing people familiar with the matter. The publisher, which is owned by British investment firm Apax Partners, is currently negotiating a prearranged bankruptcy restructuring with senior creditors and plans...

28 Jun 5:06 AM 0 Read More...

Europe clinches deals on banks, budget, youth jobless

By Luke Baker and Paul Taylor BRUSSELS | Thu Jun 27, 2013 9:09pm EDT BRUSSELS (Reuters) - European leaders agreed on new steps to fight youth unemployment and promote lending to credit-starved small business on Thursday after deals on banking resolution and the long-term EU budget gave their summit a much needed lift. The 27 leaders resolved to spend 6 billion euros...

28 Jun 5:06 AM 0 Read More...