U.S. stocks ended sharply higher on Wednesday and the Nasdaq logged a record high close, led by a rebound in technology and healthcare stocks and optimism that Greece would avoid defaulting on its debt.
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China May official factory PMI seen lackluster despite stimulus moves
China's factories struggled to expand in May despite recent interest rate cuts and other policy stimulus, a Reuters poll showed, suggesting the government may have to do more to halt a protracted slowdown in the economy.
Dollar momentum wanes, China stocks take heavy tumble
The dollar took a breather on Thursday after hitting its highest level against the yen since 2002, and stocks stuttered as high-flying Chinese shares tumbled and European officials downplayed talk of an imminent deal to keep Greece afloat.
FCC looks to crack down on robocalls, robotexts
The top U.S. telecommunications regulator wants to make it harder for telemarketers and other businesses to place unwanted robocalls and text messages under changes to autodialing rules proposed on Wednesday.
Oil down about 3 percent again on dollar, awaits supply data
Oil prices fell by up to 3 percent for a second straight day on Wednesday as a resurgent dollar weighed on the market amid concerns that U.S. crude supplies may have started rising again after three weeks of draws.
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Australian Symon Drake-Brockman is on the front line of a revolution in European finance. The former head of global debt markets at Royal Bank of Scotland (RBS.L) now runs Pemberton Asset Management in London's genteel Belgravia, several miles from the "Square Mile" City of London financial district where bankers work.
European banks Deutsche Bank, Barclays and UBS have seen their market share in foreign exchange trading slump in the past year, as U.S. banks led by Citigroup (C.N) grabbed business, according to widely watched industry rankings.
Former Federal Reserve Chairman Ben Bernanke said that China's economic slowdown should not worry markets as there was no risk of a hard landing, and emphasized that a move to raise U.S. rates should be viewed as a positive sign for the world's largest economy.
A string of reversals from sharp moves the previous day marked global financial market trading on Wednesday, with stocks and oil gaining ground and the U.S. dollar falling after its biggest rally in two years.
Charter Communications Inc, seeking to remake the U.S. cable television industry by acquiring larger rival Time Warner Cable Inc for $56 billion, will try to skirt the regulatory obstacles that helped sink Comcast Corp's earlier bid for Time Warner Cable.
Amazon’s decision to change its tax-efficient European business structure could raise its tax bill by as much as $100 million a year but authorities will have to fight for additional money and any payments will be hidden from public view.
When the Federal Reserve raises U.S. interest rates for the first time in nearly a decade, it should weigh the effects on global economies and can expect some bouts of financial market volatility, a top Fed official said on Tuesday.
A gauge of U.S. business investment spending plans increased solidly for a second straight month in April, a hopeful sign for manufacturing activity after a long spell of weakness.
U.S. stocks fell on Tuesday, pushing the S&P 500 to its biggest decline in three weeks, weighed down by concerns about Greece and some upbeat data that fueled expectations that a U.S. rate hike could come sooner rather than later.
