LONDON (Reuters) - Global service sector surveys highlighted a growing divergence in economic recovery on Friday with a pick up in growth in China and Germany but slowdowns in Britain and Spain and an expected deceleration in the United States. The data follows sister surveys which earlier this week painted a ...More
LONDON (Reuters) - Banks have acknowledged they need to be more open about the size of their bonus pools and the methodology for paying star bankers after making progress in other areas of reforming pay structures. More policy changes are needed to reduce the excessive risk taking that was blamed for ...More
SYDNEY (Reuters) - Canada's Goldcorp Inc agreed to buy Argentina-focused gold miner Andean Resources Ltd for C$3.6 billion ($3.4 billion), trumping a competing offer from rival Eldorado Gold Corp. The takeover is the latest in a series of gold mining deals this year, including Australia's Newcrest ...More
SEOUL (Reuters) - Samsung Electronics Co Ltd <005930.KS>, the world's No.2 handset maker, expects to sell up to 25 million smartphones this year, exceeding its earlier target, and aims to double shipments next year, media reports said on Friday. JK Shin, head of Samsung's Mobile Communications division ...More
BEIJING (Reuters) - China on Friday offered a rare glimpse into its foreign exchange reserves, confirming that they are overwhelmingly allocated in dollars, while a central banker said the mountain of cash could face depreciation risks. The Chinese government's currency reserves, the world's largest such stockpile at $2.45 ...More
NEW YORK (Reuters) - News Corp <NWSA.O> Chief Executive Rupert Murdoch said the global economy is still in an uncertain state and the media industry is going through a fundamental transformation that is unpredictable "I do not believe we are out of the turmoil yet. Sovereign debt pressures, soaring deficits ...More
DETROIT (Reuters) - General Motors' <GM.UL> new boss Dan Akerson sent his first letter to staff on Thursday, saying he valued the role of organized labor in the company's success as GM heads into negotiations with its union-represented U.S. workers next year. Akerson, 61, is the fourth CEO ...More
NEW YORK (Reuters) - Lehman Brothers Holdings Inc <LEHMQ.PK>, the bankrupt U.S. investment bank, needs at least $550 million to keep its two bank units going as it prepares to sell them or shut them down in 18 months, court documents show. Lehman asked a Federal bankruptcy court judge ...More
