Federal Reserve Chair Janet Yellen signaled that the U.S. central bank will likely start raising borrowing costs later this year, even before inflation and wages have returned to health, but emphasized the return to normal interest rates will be gradual.
Country
Neither Grexit, nor Grexident. Euro and 'drachma' in parallel?
Greece is unlikely to exit the euro, either intentionally or accidentally. But it might be forced to introduce an alternative means of payment, in parallel to the euro, to pay some domestic bills if a reform-for-cash deal with its creditors is not secured soon, several euro zone officials said.
South Korea sees gains for its infrastructure firms from joining AIIB
South Korea hopes its infrastructure companies will benefit from the country joining the China-backed Asian Infrastructure Investment Bank (AIIB), the finance ministry said on Friday.
U.S. Treasury's Lew to press China on currency: officials
U.S. Treasury Secretary Jack Lew will press Chinese officials next week to adopt a more market-determined exchange rate policy, and the Obama administration thinks further yuan appreciation would help the global economy, Treasury officials said on Friday.
As 3G digests Kraft deal, rivals will focus on organic firms
The macaroni and ketchup merger of Kraft Foods Group (KRFT.O) and H.J. Heinz Co may prove a boon to the far smaller natural and organic food companies that have seized market share as consumers shift away from processed foods, bankers and portfolio managers said.
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Toyota Motor Corp (7203.T) said on Thursday it would aim to halve the investment required to retool factories for new models compared with what it was spending before the 2008 financial crisis, as part of a sweeping overhaul of the way it develops and builds cars.
Ford Motor Co (F.N) plans to triple exports from India with a $1 billion plant that will be one of its most heavily automated in Asia, offsetting slower sales inside the country with a push to sell more local production abroad.
Andorra will create a 'bad bank' to group the assets of Banca Privada d'Andorra (BPA) linked to illicit activity, it said late on Thursday, as the principality battles to rebuild the reputation of its banking system.
U.S. energy firm Chevron (CVX.N) is seeking to sell its entire stake in Caltex Australia Ltd (CTX.AX) for about A$4.6 billion ($3.6 billion), exiting Australia's biggest refiner after nearly 40 years as falling oil prices and high costs hurt margins.
India's biggest airline by market share, IndiGo, is preparing to file a draft prospectus by May for a stock listing to raise $300 million to $400 million, two people with knowledge of the plans said, aiming to cash in on a boom in budget air travel.
French energy group EDF (EDF.PA) is considering whether to take a stake in assets belonging to struggling nuclear power group Areva (AREVA.PA), business daily Les Echos reported on Friday, citing an unidentified source close to EDF.
Union Bancaire Privee (UBP) has agreed to buy Royal Bank of Scotland's international private banking business Coutts International, as the Swiss private bank continues to rebuild its asset base in the aftermath of the financial crisis.
Oil prices fell more than $1 on Friday, after sharp gains in the prior session, as worries of a disruption to supplies due to Saudi Arabia-led air strikes in Yemen eased.
Asian stocks were mixed on Friday and the dollar rebounded as rising tensions in the Middle East clouded the investment outlook.
