U.S. regulators are asking banks for more detail on their autos financing exposure, as rapid growth in the lending has prompted officials to seek to better assess the risks, according to a person familiar with the matter.
Industry
Facing new oil glut, Saudis avoid 1980s mistakes to halt price slide
Still haunted by its failed attempt to prevent a steep drop in oil prices by slashing production by almost three quarters in the 1980s, the world's top oil exporter Saudi Arabia is determined not to make the same mistake again.
Solvay wins contract to provide plastic for iPhone 6
Belgian chemicals company Solvay SA has won a contract to provide plastic for Apple Inc's latest smartphone iPhone 6 handsets, Bloomberg said on Monday.
France's Iliad drops plan to buy T-Mobile US
French low-cost telecoms operator Iliad SA (ILD.PA) abandoned its attempt to buy T-Mobile US Inc (TMUS.N) on Monday because of resistance from majority owner Deutsche Telekom (DTEGn.DE), becoming the third bidder to walk away from the carrier in three years.
Wall St. leads stocks selloff; dollar slides on Fed views
Stocks on Wall Street tumbled in late selling on Monday as the technical picture soured for the S&P 500, while the U.S. dollar posted its worst day in a year after comments from Federal Reserve officials hinted at delays in expected interest rate hikes.
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European stocks reversed early losses on Monday as airline shares gained after crude oil prices fell to near a four-year low, though broad dollar weakness and a jump in gold signaled investor concern over global economic health.
Saudi Arabia is quietly telling oil market participants that Riyadh is comfortable with markedly lower oil prices for an extended period, a sharp shift in policy that may be aimed at slowing the expansion of rival producers including those in the U.S. shale patch.
As traditional Wall Street moneymakers like stock and bond trading suffer, banks are growing increasingly willing to invest in less glamorous operations: their credit card businesses.
Asian stocks stumbled to seven-month lows on Monday, while crude oil prices were pinned near a four-year trough as promising trade numbers out of China failed to cheer a market still worried about faltering global growth.
One of France's largest banks is teaming up with social network Twitter Inc. (TWTR.N) this week to allow its customers to transfer money via tweets.
The yen scaled a one-month high against the dollar on Monday, as heightened worries about the health of the global economy continued to shore up the safe-haven Japanese currency.
China's export and import performance in September easily beat forecasts, with imports showing unexpected buoyancy, helping to ease concerns about deteriorating domestic demand in the world's second-biggest economy.
Policymakers scrambling to keep the world economy from settling into the "new mediocre" of sluggish growth can no longer rely on global trade to do the heavy lifting.
France and Italy will keep pressure on Germany this week to use government money to revive the euro zone's stagnating economy but in a sign of inertia, a promised list of projects to create growth will not be ready until December.
