UBS is seeking to offload its private bank in Australia to the unit's management following a review of underperforming businesses at the Swiss bank, a source with direct knowledge of the matter told Reuters on Monday.
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Oil drops below $65 on U.S. shale outlook, dollar
Oil fell below $65 a barrel on Tuesday, pressured by the possibility that U.S. shale oil producers could increase drilling activity and by a stronger dollar.
ECB's Visco says deflation fears eased but asset purchases must go on
The European Central Bank must continue its asset-purchasing program to ensure that euro area inflation returns to target levels, despite signs that deflation fears have eased, ECB governing council member Ignazio Visco said on Tuesday.
Amazon pays $16 million tax in Germany, while making $11.9 billion sales
Internet retailer Amazon.com Inc.'s (AMZN.O) main German operating unit paid just 11.9 million euros ($16 million) in tax in 2014, despite the group recording $11.9 billion in sales to German customers last year, regulatory filings show.
Wall Street opens lower as stronger dollar weighs
Wall Street opened lower on Tuesday after the dollar jumped to a one-month high on data showing that U.S. business investment spending plans increased solidly for a second straight month in April.
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Central bankers should be aware of the potentially destabilizing effects of super-easy policy on financial systems, a top U.S. Federal Reserve official said on Monday, even if monetary policy should not be used as a main tool to prevent bubbles.
Time Warner Cable Inc is nearing an agreement to be acquired by smaller peer Charter Communications Inc for about $55 billion, combining the second and third largest U.S. cable operators, people familiar with the matter said on Monday.
Loss-making Malaysia Airlines is set to undergo a complete overhaul as it is restructured into a new company, with a rebranding that will be unveiled next week and changes planned to its fleet and network strategies.
An Iraqi bank controlled by Jordanian interests plans to open five more branches in Iraq by the end of this year, a sign that there is still money to be made in much of the country despite civil war and low oil prices.
Brazilian Finance Minister Joaquim Levy said on Monday that the size of the budget freeze announced last week was "adequate," but he expressed concern about the forecast for government revenues this year.
The dollar hit a one-month high against a basket of major currencies on Monday after stronger-than-expected underlying U.S. inflation bolstered the Federal Reserve's case for an interest rate hike later this year.
Crude oil futures edged lower toward $65 a barrel as the dollar strengthened on Monday, with a public holiday in the United States and much of Europe keeping trading muted.
China's state planning agency on Monday released a list of more than 1,000 proposed projects totalling 1.97 trillion yuan ($317.75 billion) that it is inviting private investors to help fund, build and operate.
European shares fell in thin trade on Monday while the dollar powered ahead after U.S. Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates this year.
