Business News

Regulators irate at NY action against Standard Chartered

By Carrick Mollenkamp and Emily Flitter and Karen Freifeld NEW YORK/LONDON | Wed Aug 8, 2012 9:07am EDT NEW YORK/LONDON (Reuters) - The Treasury Department and Federal Reserve were blindsided and angered by New York's banking regulator's decision to launch an explosive attack on Standard Chartered Plc over $250 billion in alleged money laundering transactions tied t...

08 Aug 3:48 PM 0 Read More...

U.S. productivity rises in second quarter, 2011 revised upward

WASHINGTON | Wed Aug 8, 2012 9:27am EDT WASHINGTON (Reuters) - Nonfarm productivity rose more than expected in the second quarter as companies expanded output but only modestly increased the hours worked by their employees, data from the Labor Department showed on Wednesday. Productivity climbed at a faster-than-expected 1.6 percent annual rate between April and June.The st...

08 Aug 3:48 PM 0 Read More...

Spyker says GM served with $3 billion damages claim

AMSTERDAM | Wed Aug 8, 2012 10:46am EDT AMSTERDAM (Reuters) - Dutch sportscar maker Spyker said on Wednesday that General Motors has been served with the complaint that Spyker filed against it earlier this week and that GM is due to respond by August 28. Spyker is suing General Motors for more than $3 billion on behalf of its subsidiary Saab, accusing the U.S. automaker of ...

08 Aug 3:48 PM 0 Read More...

Analysis: Monti takes off gloves in euro zone fight

By Barry Moody ROME | Wed Aug 8, 2012 10:08am EDT ROME (Reuters) - Italian Prime Minister Mario Monti has taken the gloves off in his fight to save Italy from disaster in the euro zone debt crisis, daring to stand up to European paymaster Germany in a way unthinkable a few months back. His change of attitude is driven by increasing Italian exasperation with repeated...

08 Aug 3:48 PM 0 Read More...

Stock index futures signal flat to lower open

PARIS | Wed Aug 8, 2012 4:55am EDT PARIS (Reuters) - Stock index futures pointed to a flat to slightly lower open on Wall Street on Wednesday, with futures for the S&P 500 down 0.23 percent, Dow Jones futures down 0.13 percent and Nasdaq 100 futures up 0.04 percent at 0843 GMT. European shares dipped on Wednesday, halting a sharp two-week rally that has propelled a key ...

08 Aug 10:43 AM 0 Read More...

Exclusive: Regulators irate at NY action against Standard Chartered

By Carrick Mollenkamp and Emily Flitter and Karen Freifeld NEW YORK/LONDON | Wed Aug 8, 2012 6:02am EDT NEW YORK/LONDON (Reuters) - The Treasury Department and Federal Reserve were blindsided and angered by New York's banking regulator's decision to launch an explosive attack on Standard Chartered Plc over $250 billion in alleged money laundering transactions tied t...

08 Aug 10:43 AM 0 Read More...

Shares hit three-month high on debt, QE policy hopes

By Chikako Mogi TOKYO | Wed Aug 8, 2012 1:31am EDT TOKYO (Reuters) - Asian shares extended gains to a third straight session on Wednesday, reaching a three-month high, as investors continued to bet that policymakers will soon take decisive action to address the euro zone fiscal crisis and declining global growth. Oil and copper eased from their highs but remained un...

08 Aug 5:38 AM 0 Read More...

Exclusive: Regulators irate at NY action against StanChart

By Carrick Mollenkamp and Emily Flitter and Karen Freifeld NEW YORK/LONDON | Wed Aug 8, 2012 12:44am EDT NEW YORK/LONDON (Reuters) - The Treasury Department and Federal Reserve were blindsided and angered by New York's banking regulator's decision to launch an explosive attack on Standard Chartered Plc over $250 billion in alleged money laundering transactions tied ...

08 Aug 5:38 AM 0 Read More...

Stocks rally for third straight day on European optimism

By Ryan Vlastelica NEW YORK | Tue Aug 7, 2012 6:34pm EDT NEW YORK (Reuters) - Stocks rose for a third straight day on Tuesday, pushing the S&P above 1,400 for the first time since early May, on growing optimism the European Central Bank would act soon to contain the euro zone's debt crisis. Trading was light, which could distort the level of optimism investors t...

08 Aug 12:36 AM 0 Read More...

Fed should buy as many bonds as necessary: Rosengren

By Mark Felsenthal WASHINGTON | Tue Aug 7, 2012 6:58pm EDT WASHINGTON (Reuters) - A top Federal Reserve official said on Tuesday the Federal Reserve should launch another bond-buying program of whatever size and duration is necessary to get the economy back on its feet, signaling support from some U.S. policymakers for aggressive steps to boost the flagging recovery...

08 Aug 12:36 AM 0 Read More...