Wealthier U.S. shoppers are likely to drive the most bountiful holiday season in three years as retailers slash prices to cope with tighter budgets, analysts said on Tuesday, as a new survey showed 2014 retail sales rising 4.1 percent.
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Top 20th-century art collection could sell for $85 million at auction
A major collection of modern and contemporary art assembled by two of the 20th century's most prominent collectors is expected to fetch more than $85 million when it hits the auction block next month, Sotheby's said on Monday.
China services sector growth weakens slightly in September: HSBC PMI
Growth in China's services sector weakened slightly in September as new business cooled, a private survey showed on Wednesday, reinforcing signs of a slowdown in the world's second-largest economy that could prompt more stimulus measures.
Banks need overhaul, but risk to recovery, IMF says
A much-needed pruning of banks across the world could stifle lending and dampen economic recovery, the International Monetary Fund said on Wednesday.
Swisscom weighs $6.3 billion Fastweb sale as Vodafone lurks - sources
Telecom operator Swisscom (SCMN.VX) is considering a possible sale of its Italian broadband firm Fastweb, which is worth up to 5 billion euros ($6.3 billion) and has been a target for Vodafone (VOD.L), sources familiar with the situation said.
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Wal-Mart Stores Inc, the biggest U.S. private sector employer, said on Tuesday that its 1.3 million workers would have to pay more for healthcare and it would end benefits for some part-time staff in a move that could prompt other companies to follow suit.
U.S. stocks ended sharply lower on Tuesday, with major indexes falling 1 percent in heavy trading, as weak data out of Germany raised concerns about the strength of global growth ahead of the start of earnings season.
GT Advanced Technology Inc shares were attracting the most volume on the Nasdaq on Tuesday morning a day after the sapphire glass maker filed for bankruptcy.
Outflows from Pimco may be far from over as many investors have yet to decide whether to stick with the Newport Beach, California-based asset manager.
A second day of weak German data sent European markets into retreat on Tuesday with stocks, the euro and periphery euro zone government debt all knocked by the mounting evidence of an abrupt slowdown in the bloc's economic engine room.
Billionaire Patrick Drahi's cable and telecoms company Altice SA is looking to acquire the Portuguese assets of Brazilian carrier Oi SA, a source familiar with the matter told Reuters.
The World Bank cut its 2014-2016 growth forecasts for developing East Asia, noting that China was likely to slow due to policies aimed at putting the economy on a more sustainable footing, and it also cautioned of capital-flight risks to Indonesia.
The Bank of Japan on Tuesday maintained its massive asset buying program but offered a bleaker view on factory output, following signs that the world's third-largest economy was hit harder than expected by a sales tax increase in April.
Samsung Electronics Co Ltd (005930.KS) is heading for its first annual earnings drop since 2011 after it revealed its July-September profit would be the lowest in more than three years and said short-term prospects for smartphones were uncertain.
