What's News US
Updated: 1 year 5 months ago
The European Central Bank president has told fellow central bankers that a euro exchange rate above $1.30 harms the competitiveness of southern European exports, according to the head of Hungary's central bank.On Thursday, an ECB spokesman denied that Mr. Draghi made the comments on exchange rates.
Vale's shares jumped after the mining company settled a tax dispute with Brazilian authorities that had cast a shadow over the company for years.
Brazil moved to join the global shale oil and natural gas boom, but interest in an auction of exploration concessions was muted.
Ericsson said that India has launched an antitrust probe into whether the royalty payments the Swedish company charges for its cellphone technology are high and discriminatory.
Most of Thursday's action was in London where the Bank of England's announcement it would scale back support for mortgage lending hit housebuilders hard.
Eike Batista's troubled OGX Petroleo e Gas Participacoes SA posted a loss of $913 million for the third quarter, giving it the distinction of showing the most red ink in Latin America for the latest period.
Capital: Columnist David Wessel examines a global economy being tugged in different directions by the major powers—and suggests a more cohesive strategy focused on stoking spending, easing trade barriers and promises of more cooperation in the future.
Investors are piling into bets against the yen, taking another run at a trade that proved lucrative for some of the industry's largest money managers earlier this year.
The Swedish retailer has temporarily halted production of items containing angora wool, following the lead of other Scandinavian retailers after viewing footage of certain harvesting practices distributed by animal-rights activists.
Toyota and Honda ramped up domestic output in October amid robust vehicle demand in the U.S. and a comeback in domestic sales.
Billionaire Li Ka-shing is close to appointing HSBC as an underwriter on an initial public offering of his global retail business next year, which some analysts have valued at over $20 billion.
UBS is restructuring its foreign-exchange business, with the co-head of the unit stepping down, amid a burgeoning investigation into potential manipulation of currencies markets.
The U.S. energy giant is set to sell a 25% stake in its West Qurna-1 oil field in Iraq to China's PetroChina, according to the Iraqi government.
The euro jumped after data showed a pickup in inflation in Spain and Germany, while stock markets inched higher, spurred by a buoyant Asian session.
Rio Tinto plans to increase its annual iron-ore output in Australia by about 25%, in a bet on demand from China.
The Nikkei Stock Average surged Thursday, as another rise in the dollar fed hopes of better profits ahead for Japan Inc.
The head of South Korea's largest lender moved to manage a widespread corruption probe, bowing deeply before the media after the bank admitted wrongdoing by employees.
Transphorm, a U.S. startup pursuing a new technology for saving energy in electronic products, said it would buy rival operations of Fujitsu in a deal that creates a partnership between the companies.
Dish Network's $2.2 billion bid for LightSquared can go forward with the involvement of Dish Chairman Charlie Ergen, a Nevada judge ruled.
Spanish oil company's board accepts the outline of a multibillion-dollar compensation accord.