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China August factory growth slows to near six-year low, calls grow for more stimulus

BEIJING (Reuters) – China’s factory output grew at the weakest pace in nearly six years in August while growth in other key sectors also cooled, raising fears the world’s second-largest economy may be at risk of a sharp slowdown unless … Continue reading

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Reinsurers flock to Monte Carlo as market storm brews

MONACO (Reuters) – For a financial sector posting a double-digit rise in earnings and boasting large cash piles, reinsurers sure see a lot of storm clouds on the horizon. That’s because they are facing what many see as an unprecedented … Continue reading

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Bosses charged with rebuilding Portugal’s BES bank quit after two months

LISBON (Reuters) – The rebuilding of Portugal’s Novo Banco – the successor to Banco Espirito Santo (BES) after a state rescue last month – was dealt a blow on Saturday with the resignation of the three men handpicked by the … Continue reading

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Brazil prosecutor seeks to freeze $641 mln in Batista’s assets

BRASILIA (Reuters) – Brazil federal prosecutors have filed criminal charges against Eike Batista, accusing the fallen tycoon of market manipulation and seeking to freeze up to $1.5 billion reais ($641 million) worth of his financial assets and properties. The Rio … Continue reading

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Microsoft needs Minecraft to boost mobile ambitions

SEATTLE (Reuters) – Microsoft’s impending purchase of Mojang, the Swedish developer with 100 million players of its open world Minecraft game, is more aimed at pulling users onto the software company’s obscure mobile platform than its better known PC system … Continue reading

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RadioShack mulls $585 million financing package from UBS, Standard General: WSJ

(Reuters) – RadioShack Corp (RSH.N) is evaluating a $585 million financing package led by UBS AG (UBSN.VX) and hedge fund Standard General LP as the U.S. electronics retailer tries to avert bankruptcy, the Wall Street Journal reported, citing people familiar … Continue reading

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Exclusive: Brazil assessing whether to cut key fiscal goal in 2014

BRASILIA (Reuters) – The Brazilian government is assessing whether to cut its most closely watched fiscal target in 2014 because revenues came in worse than expected and onetime expenditures climbed, Treasury chief Arno Augustin told Reuters on Friday. This is … Continue reading

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Labor pension adviser CtW seeks details from Walgreen

BOSTON (Reuters) – CtW Investment Group, an adviser to union pension funds, called on Walgreen Co (WAG.N) to provide more details about a change in projected earnings and questioned the U.S. drugstore chain operator’s appointment of an activist investor to … Continue reading

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Exclusive: State attorneys general probing AT&T deal for DirecTV

WASHINGTON (Reuters) – State attorneys general working to determine whether Comcast Corp’s deal to buy Time Warner Cable Inc is legal have expanded their investigation to include ATT Inc’s plans to buy DirecTV, according to sources close to the merger … Continue reading

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David Rosenberg: U.S. stocks in correction, but bull market intact

NEW YORK (Reuters) – The U.S. stock market has entered into a corrective phase, but the underlying bull market remains in place, David Rosenberg, chief economist and strategist of Canadian asset manager Gluskin Sheff, said on Thursday. “We are in … Continue reading

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