Economy & Finance

Loeb`s Third Point targets `staid` Nestle for change

Loeb`s Third Point targets `staid` Nestle for change

Published 26/06/2017

A Kitkat chocolate bar is pictured in the supermarket of Nestle headquarters in Vevey, Switzerland, February 16, 2017. REUTERS/Pierre Albouy

Activist investor Daniel Loeb's Third Point LLC on Sunday unveiled a stake of more than 1 percent in Switzerland's Nestle SA (NESN.S) and urged the world's largest packaged foods maker to improve its margins, buy back stock and shed non-core businesses.

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South Korea economy to see mild improvement this year: central bank

South Korea economy to see mild improvement this year: central bank

Published 26/06/2017

FILE PHOTO: A South Korea won note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration/File Photo

South Korea's economy is expected to see gradual improvement this year thanks to manufacturing and services, the country's central bank said in a regular report on regional growth on Monday.

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Dollar sags as U.S. yields stay low, rate hike expectations fade

Dollar sags as U.S. yields stay low, rate hike expectations fade

Published 26/06/2017

A U.S. Dollar note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration

The dollar sagged against its major peers on Monday, losing traction as U.S. Treasury yields stayed low amid fading expectations that the Federal Reserve to hike interest rates again later this year.

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Japan`s trade minister: Takata bankruptcy filing was unavoidable

Japan`s trade minister: Takata bankruptcy filing was unavoidable

Published 26/06/2017

Japan's Trade Minister Hiroshige Seko attends the 3rd Inter-sessional Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting in Hanoi, Vietnam May 22, 2017. REUTERS/Kham

Japanese Trade Minister Hiroshige Seko said on Monday that Takata Corp's (7312.T) filing for bankruptcy was unavoidable given the severity of its product recalls.

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Euro zone lenders dampen global banking recovery decade after crisis: BIS

Euro zone lenders dampen global banking recovery decade after crisis: BIS

Published 25/06/2017

FILE PHOTO: An employee of GSA Austria ( Money Service Austria ) holds a wad of new 100 euro banknotes at the company's headquarters in Vienna July 22, 2013. REUTERS/Leonhard Foeger

Although a better economy is helping global banks to turn the corner a decade after the financial crisis began, euro zone lenders remain a dampener on the sector's recovery, the Bank for International Settlements said on Sunday.

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U.S. lawmakers urge Trump to press India`s Modi on trade, investment

U.S. lawmakers urge Trump to press India`s Modi on trade, investment

Published 24/06/2017

FILE PHOTO: Chairman of the House Ways and Means Committee Kevin Brady (R-TX) and Richard Neal (D-MA) listen to testimony before the committee on tax reform on Capitol Hill in Washington, U.S., May 23, 2017. REUTERS/Joshua Roberts

Leading U.S. congressmen have called on President Donald Trump to press Indian Prime Minister Narendra Modi to remove barriers to U.S. trade and investment when they meet for the first time on Monday.

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Abadi leaves Safra National Bank for Morgan Stanley: sources

Abadi leaves Safra National Bank for Morgan Stanley: sources

Published 23/06/2017

Bernal

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State Street appoints Steve Cook senior vice president of U.S. investor services

State Street appoints Steve Cook senior vice president of U.S. investor services

Published 23/06/2017

Financial services provider State Street Corp said on Friday it appointed Steve Cook as senior vice president within its U.S. investment services business.

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ECB seeks greater power over clearing supervision

ECB seeks greater power over clearing supervision

Published 23/06/2017

FILE PHOTO: The European Central Bank (ECB) headquarters in Frankfurt, Germany, July 29, 2016. REUTERS/Ralph Orlowski/File Photo

The European Central Bank has requested enhanced powers to supervise clearing activities, it said on Friday, a move to shore up its authority over London-based euro clearing once Britain leaves the European Union.

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U.S. bans fresh Brazil beef imports over safety concerns

U.S. bans fresh Brazil beef imports over safety concerns

Published 23/06/2017

A man cools cattle on a beached boat in the Amazon river, in the city of Manaus, Brazil, October 26, 2015. REUTERS/Bruno Kelly

The United States halted imports of fresh Brazilian beef on Thursday, the U.S. Department of Agriculture (USDA) said, after a high percentage of shipments failed to pass safety checks.

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